In our weekly Trader Digest we bring you our recommended trader reading, listening and watching. This week we have an explosive high-profile view on Bitcoin, great analysis on clothing prices and iPhones, and another excuse for us to try our sorry puns...
'Bitcoin is a FRAUD': JP Morgan boss Jamie Dimon says he will FIRE staff trading bitcoin
JP Morgan boss Jamie Dimon pulled no punches on the topic of Bitcoin in this story from the Express last week. As well as comparing the cryptocurrency boom to the 17th century Tulipmania, he also outlined how he'd treat any employee of his found trading Bitcoin, saying he'd “fire them in a second. For two reasons: It’s against our rules, and they’re stupid. And both are dangerous”. Read the full interview here.
Retailers' Inflation Sideshow
As is the common conclusion to make for any market analysis these days, the biggest increase in clothing prices on record has been blamed on the aftermath of last summer's Brexit vote. But as Bloomberg argue in this interesting blog post, suggesting that actually there are many other factors at play, and many of them are determined by the retailers themselves.
Why Investment Banks Reject You, Even With Top Grades
An interesting piece from eFinancialCareers for anyone making repeated applications to investment banks and wondering why they never hear back. Read it here to get some insight into how to improve your applications.
Geneva Police Confiscate Euro Bills Clogging Up Toilets
Bloomberg tell of a peculiar tale from Geneva, where Swiss prosecutors are trying to figure out why someone tried to flush tens of thousands of Euros down the toilet at a Geneva branch of UBS Group AG. Which, while taking the term "flush with money" to a new level of literal, also gives a new meaning to Swiss Roll...
Yellen Legacy Burnished by Job Market Hunch, Crisis Policy Exit
Yahoo Finance touches on the subject of the legacy and potential future of the first woman to chair the Federal Reserve, Janet Yellen. With unemployment falling and President Trump endorsing the Fed chair, could she continue? Read it here.
What to Watch
Now that Apple has unveiled iPhone X, should you dump the stock?
In a title that does exactly what it says on the tin, Business Insider's ever-brilliant Henry Blodget looks at Apple stock in the days and weeks following high-profile product launches, in the wake of their recent iPhone X release. Watch his analysis here.
For the Headphones
Interview with Rayner Teo
Trend Following Radio
If you enjoyed trader Rayner Teo's Desert Island Traders for us here at TraderLife the other week (you can read it here), then make sure to tune in to Michael Covel's latest episode of Trend Following radio, where he interviews the ex-prop trader from Singapore. Topics include the importance of charting wins and charting losses, his time in the military, and how to deal with social media trolls. Listen here.