Opening Bell: 1.31.17

Deutsche Bank to Pay Nearly $630 Million to Settle Probes Into Russian Trades (WSJ)

The U.K. and New York regulators cited repeated shortcomings in Deutsche Bank’s controls to vet clients, including failing to determine their identities and sources of wealth, and to detect suspicious trades. The lender executed more than 2,400 pairs of so-called “mirror trades” between April 2012 and October 2014 alone, the U.K. regulator said.

Buffett Bought $12 Billion of Stock From Election Through Friday (BBG)

“We’ve, net, bought $12 billion of common stocks since the election,” he said in an interview with Charlie Rose that aired on Friday. Buffett didn’t identify the securities that he picked. Purchases of that magnitude represent a major pickup in activity for Omaha, Nebraska-based Berkshire. During the first nine months of last year, the company bought $5.2 billion and sold or redeemed roughly $20 billion worth of stocks, according to a regulatory filing. In 2015, Berkshire bought about $10 billion of equity securities.

‘Becoming Warren Buffett’ Goes Beyond a $74 Billion Fortune (NYT)

The movie doesn’t shy away from portraying Mr. Buffett, now 86, as something of a remarkable human computer, gifted with numbers and less so with interpersonal relationships. He is the kind of man who straightforwardly says that he can’t remember the colors of his bedroom walls, and the kind of husband who when his wife had the flu and asked for a pot to keep by her bedside, instead fetched a colander.

Stock Markets and the Rule of Law (Reformed Broker)

How many multiple points on the S&P 500 are at risk if the populace gets to a place where they no longer believe we are a country of laws – laws that apply to everyone, including the politicians who happen to be in control at a given a moment? I don’t know the answer, but I guarantee you it’s not zero. It’s a number for sure.

Wall Street is going to regret how lazy it's been on Trumpenomics (BI)

So far Deutsche Bank has been horribly wrong about the "defining feature of Trump's economic approach." It hasn't been deregulation and an "expansionary fiscal policy" (fancy words for stimulus), it has been trade (or rather opposition to it).

Court Orders Justice Dept. to Release Fannie Mae and Freddie Mac Documents (NYT)

“It is clear from the Court of Appeals’ unanimous ruling that the vast bulk of the 11,000 documents withheld by the government will now have to be disclosed to the plaintiffs and the courts, and we are confident that these documents will further discredit the government’s defense narrative.”

Elliott turns up CEO pressure blending activism with buyouts (Reuters)

When LifeLock's managers sat down with Elliott last June, the leader of its new private equity team revealed that Elliott was interested in buying the entire company. Just like that, the auction for LifeLock began. In the end, the winning bid came from Symantec Corp, which also counts Elliott among its major shareholders. LifeLock's $2.3 billion sale agreement in November handed Elliott an 80 percent return on its five-month investment. The deal shows how the hedge fund is rewriting the activist investor playbook, ramping up its ability to act both as an engaged shareholder and a potential buyer of the whole company.

Trump's voter fraud expert registered in 3 states (AP)

Gregg Phillips, whose unsubstantiated claim that the election was marred by 3 million illegal votes was tweeted by the president, was listed on the rolls in Alabama, Texas and Mississippi, according to voting records and election officials in those states. He voted only in Alabama in November, records show.

My captain friend sent me this photo. Saudi prince bought tickets for his 80 hawks. (Reddit)