Wonder what traders are talking about today?
We’re here with the top 10 stories we’re sharing with colleagues today, covering topics like:
So check out these links right now and get up to speed:
1) Don’t laugh — that $1,000 iPhone could be a genius move for Apple (MarketWatch)
Is the $999 price tag for the iPhone X too high?
Some people clearly think so. They think Apple has finally overreached. They think this thing could be Tim Cook’s folly. Apple stock, which had risen on news of the new cellular Apple Watch, slid after the high-end phone was unveiled.
2) Markets Are Hard: Seth Klarman Edition (A Wealth of Common Sense)
Klarman isn’t as well known to the general investing public as some of his peers but his track record ranks right up there in terms of the greatest of all-time.
When someone like Klarman makes these types of warnings it’s hard to ignore.
3) Secrets of Successful Speculation: Riding the FMSA Rocket (T3 Live)
A trader’s job is to narrow one’s field of vision and cull for the very best setups: the more one tries to see, the less one sees.
In this game, there is so much going on that it’s easy to get overwhelmed. As the old saw goes, less is more.
4) Top House Tax Writer Says Overhaul Framework Coming Week of Sept. 25 (Bloomberg)
Kevin Brady, the chief House tax writer, told the chamber’s Republicans that White House advisers and congressional leaders working on a tax plan will release a framework the week of Sept. 25.
Specifics, including such basic matters as where to set the corporate tax rate and how to set up individual tax brackets, have yet to emerge.
5) Brazil police detain JBS CEO Batista on suspicion of insider trading (Reuters)
Brazil’s federal police on Wednesday detained the chief executive officer of JBS SA, the world’s No. 1 meatpacker, saying he used insider information to avoid hefty losses related to a plea bargain signed earlier this year.
6) Pandit Says 30% of Bank Jobs May Disappear in Next Five Years (Bloomberg)
Vikram Pandit, who ran Citigroup Inc. during the financial crisis, said developments in technology could see some 30 percent of banking jobs disappearing in the next five years.
Artificial intelligence and robotics reduce the need for staff in roles such as back-office functions, Pandit, 60, said Wednesday in an interview with Bloomberg Television’s Haslinda Amin in Singapore.
7) 9 Ways to Destroy Your Account with Options (T3 Live)
Options trading is fun. Options trading is sexy.
And options trading can destroy your account if you don’t know what you’re doing.
8) Why Is North Korea So Interested in Bitcoin? (FireEye)
In 2016 we began observing actors we believe to be North Korean utilizing their intrusion capabilities to conduct cyber crime, targeting banks and the global financial system. This marked a departure from previously observed activity of North Korean actors employing cyber espionage for traditional nation state activities.
9) U.S. middle-class incomes reached highest-ever level in 2016, Census Bureau says (Washington Post)
The incomes of middle-class Americans rose last year to the highest level ever recorded by the Census Bureau, as poverty declined and the scars of the past decade’s Great Recession seemed to finally fade.
10) Miami Nun Uses Chainsaw to Remove Downed Trees (CBS Miami via YouTube)
Hurricanes Harvey and Irma did untold amounts of damage to countless families. But it’s also brought out the best in Americans all across the country, as everyday people step up to help their neighbors.
In this video, watch a nun pick up a chainsaw to clear trees in her Miami neighborhood.
As a YouTube commenter pointed out, she wasn’t exactly following chainsaw safety protocol, but it’s heartwearming nonetheless…