Photo: Bill Jelen (Unsplash)

Trader Digest: Elon Musk Overtakes Warren Buffet

This week in Trader Digest we see Elon Musk overtake Warren Buffet on the billionaire leaderboard, even after Tesla had to make cuts on their newest model. We also see China slap sanctions on top Republicans, and a fascinating documentary on Donald Trump's tweets...

WHAT WE'RE READING

Tesla Shaves $3,000 Off Model Y Price Months After Sales Start
‘Tesla Inc. has cut the price of its Model Y crossover by $3,000 less than four months after starting sales.’ BLOOMBERG

The Trading Apps Accused of Turning Stocks into a Game
‘Robinhood says it wants to ‘democratise’ markets — but critics warn it is luring young people into taking huge risks’ THE TIMES

Federer-Backed Swiss Shoe Company Eyes an IPO
‘Swiss sports shoe company On is preparing for an initial public offering that could be held next year, NZZ am Sonntag reported, without saying where it obtained the information.’ BLOOMBERG

Hedge Funds Look to Algo Trading to Reduce Market Impact in Volatility
‘Results from The TRADE’s 2020 Algorithmic Trading Survey reveal that hedge funds are increasingly using algos to reduce market impact, as the buy-side continues to focus on trade performance and price efficiency.’ THE TRADE

Hong Kong Gets Zero-Fee Trading in Blow to Brokers
‘Less than a year since Charles Schwab Corp. reshaped the U.S. discount broker industry with zero-fee trading, a Hong Kong firm is following suit in a move set to deepen the pain for the city’s many hard-pressed trading houses.’ BLOOMBERG

Working from Home Will Make Us All Less Human
‘As lockdown lifts and the nation takes tentative steps towards the pub it’s worth remembering that some restrictions continue.’ THE TIMES

Elon Musk Soars Past Warren Buffett on Billionaires Ranking
'Elon Musk is now richer than Warren Buffett.' BLOOMBERG

Xinjiang: Rubio and Cruz Hit With Tit-for-Tat China Sanctions
'China has announced sanctions on top Republicans after the US imposed sanctions on Chinese officials for alleged human rights abuses against Muslim minorities in Xinjiang province.' BBC

New York City Reaches Milestone With No Reported Virus Deaths
'New York City, once the epicenter of the nation’s coronavirus outbreak, has just reported its first day with zero confirmed or probable virus deaths since the pandemic hit New York State.' BLOOMBERG

WHAT WE'RE LISTENING TO

Facebook, White Nationalists and Becoming the Target of a Hate Campaign
‘In mid-November, Guardian US tech reporter Julia Carrie Wong reported on the continued presence of white nationalist organisations on Facebook. She had provided Facebook with a list of groups that were using its platform despite its stated policies against white nationalist hate, and Facebook had again failed to take action against them.’ THE GUARDIAN

WHAT WE'RE WATCHING

Trump in Tweets
'Examining how Trump used Twitter to change US politics, exploring why this technophobe became a serial tweeter and witnessing the impact his tweets have on the world.' BBC IPLAYER