SEC to Review Guggenheim’s Bob Diamond-Linked Investments (BBG)
Guggenheim has been a shareholder of Diamond’s African banking venture, Atlas Mara Ltd., since its 2013 initial public offering. Over time, the relationships have spread and gotten deeper, as Guggenheim mutual funds and insurers associated with the firm have invested in multiple Diamond-related companies.
Star Fidelity Manager Gavin Baker Fired Over Sexual Harassment Allegations (WSJ)
A star stock picker at the mutual-fund giant Fidelity was fired last month for allegedly sexually harassing a junior female employee, according to an attorney for the female employee and other people familiar with the matter. Gavin Baker was one of the Boston-based investment firm’s most well-known fund managers, placing bets on technology companies such as Uber and Tesla during his eight years at the helm of the $16.4 billion Fidelity OTC Portfolio. He is also well known in Silicon Valley among venture capitalists and startup firms, as well as in the asset management industry.
Bond Wizard Chris Rokos Hits a Bump (WSJ)
London-based Rokos Capital chalked up a 20% gain in 2016 in one of the hottest hedge-fund launches of recent years. But this year, the fund is down 1.2% through September.
Short-Seller Marc Cohodes Goes Long on Overstock (BBG)
“When he started reaching out to me, I was worried about, you know, was he going to plant a bomb in my living room or something,” Byrne said, joking about Cohodes. “I couldn’t believe that my old enemy was reaching out to me,” he said. Still, he welcomes the development. “How strange it is that we have found, after it all, that we could bury the hatchet, and not in each other’s necks?”
This Is Not Arthur Laffer’s Famous Napkin (NYT)
Among the clues: It is cloth, while the original napkin was paper. It is dated 9/13/74, while the original meeting took place after the November 1974 midterm elections. And it is inscribed to Donald H. Rumsfeld, then Ford’s chief of staff. Mr. Laffer met with Dick Cheney, Mr. Rumsfeld’s deputy. Mr. Laffer said he did draw on the Smithsonian’s napkin, but he most likely did so several years later, at the request of the journalist Jude Wanniski, who wanted a keepsake of the famous moment.
How would ETFs fare in a market downturn? (FT)
As Mr Bregman tells it, the flows since the financial crisis out of actively managed equity funds and into ETFs meant a surge of money heading for the largest, most liquid stocks. The original ETF idea has since been tweaked so fund managers do not need to hold every single underlying stock or bond in the index, to “fully replicate” in the jargon, but can hold the largest constituents and still mimic the index’s return (see box). The largest stocks are attracting money purely on account of their size — hence the fears of a bubble.
Bitcoin's market value is now larger than Goldman Sachs and Morgan Stanley (CNBC)
Bitcoin would be the 15th largest component of the Nasdaq and 58th largest by market cap on the NYSE. SEE ALSO: The Higher Bitcoin Gets, the Faster Bitcoin Goes
Even Pokémon Go used by extensive Russian-linked meddling effort (CNN)
The donotshoot.us website in turn links to a Tumblr account. In July 2016, this Tumblr account announced a contest encouraging readers to play Pokémon Go, the augmented reality game in which users go out into the real world and use their phones to find and "train" Pokémon characters. Specifically, the Don't Shoot Us contest directed readers to go to find and train Pokémon near locations where alleged incidents of police brutality had taken place.