by Don Quijones, Wolf Street:
Criminal organizations in Mexico have branched out into a lucrative new market and revenue stream: big data. They have developed innovative practices to obtain sensitive user information by lifting data from the databases of government agencies such as Condusef, Consar and Buró de Crédito. They call bank customers and spoof on the caller ID screen the phone number of the bank they claim to represent. To gain the target’s trust, they give the credit card security code to the target and ask if it matches what they see on the back of their card. And it goes from there. Now, they’re about to be gifted an invaluable cache of data: the biometric identifiers of Mexican bank customers.
by Marin Katusa, Katusa Research:
The energy industry absolutely dwarfs the mining industry.
In fact, a company like Exxon dwarfs all of the mining companies combined.
Every week, I get pitched by the last flock of people through the door trying to start a new junior company. It ranges from blockchain, marijuana and resource companies planning on going public… to companies looking to fund the next drill program that will change the game. If it’s funded and public, the bankers, financiers or entrepreneurs have come through our office with their best pitch.
by Dave Kranzler, Investment Research Dynamics:
This commentary is emphatically not an endorsement of Trump as President. I have not voted since 1992 because, when the system gives the public a Hobson’s Choice, voting is pointless.
An age-old adage states that “people vote with their wallets.” The chart below suggests that this adage held true in 2016:
Mix of Morons, True Believers & Spaghetti-Code Algos Tripled the Price of my Stock-Scam Hero in 3 Days before Getting Gored by the SEC
by Wolf Richter, Wolf Street:
$2 billion just went POOF, from one second to the next.
This is just too funny. Longfin [LFIN], my favorite “blockchain company” and hero among scam stocks that I have lambasted since December, is at it again. But this time, it’s likely the last time.
On April 2, I published a piece titled, “What Kind of Hyper-Enthusiastic Market is this that Blindly Keeps Pursuing Scams to Make a Fortune Overnight, even if They Already Crashed the First Time?” It was all about Longfin, which went public on the Nasdaq last December, though it has nothing in the US, and whose CEO lives in Singapore.
On Friday, April 6, at 10:30 a.m., the Nasdaq halted trading in LFIN after shares had tripled in three days, reaching a market cap of $2.1 billion. The tripling occurred after shares had crashed 89% in the prior seven trading days.