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Opening Bell 12.17.18

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Robinhood-rat [The Water Coolest]

More money, more problems. Robinhood, the go-to app for college kids looking to lose their parents hard earned money in the markets, is facing backlash after releasing what it called savings and checking account products. Not only were the accounts actually money market accounts, but the Securities Investor Protection Corporation which insures investors cash against brokerage's failure, hadn't so much as gotten a phone call from the makers of the app.

Robinhood to re-launch, rebrand its savings account plan after widespread criticism [CNBC]

Show me the money [The Water Coolest]

If this isn't bulletin board material for the Chuck Rhoades of this world, I don't know what it. Despite a slew of hedge funds closing their doors, others losing a literal f*ck ton of client money and others still falling well short of expectations, hedge fund professionals can expect a 16% increase in compensation vs. last year according to a survey by Odyssey Search Partners. By this logic, crypto fund manager's bonuses are going to look like Ken Lay's circa 1998.

Hedge Fund Employees Expect Fatter Paychecks in Beleaguered Year [Bloomberg]

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