This week in Trader Digest we see how one trader makes a desperate error, party boy Steve Madden releases a book about his company and his debaucherous lifestyle, and the New York Times claims that lockdown has made us all socially awkward...
WHAT WE’RE READING
The Fraud and Drug Binges That Helped Create a Billion-Dollar Shoe Company
‘At 6 a.m. on June 20, 2000, police and federal agents in riot gear swarmed into shoe designer Steve Madden’s apartment on Mercer Street in New York with a warrant for his arrest.’ BLOOMBERG
How Bot Trading Influences the Crypto Market, Explained
‘Trading bots are simply programs that watch market conditions and place trades based upon predefined algorithms, allowing for automated and often high-frequency trading to occur.’ COIN TELEGRAPH
Stocks Post Biggest Rout Since June as Tech Sinks: Markets Wrap
‘U.S. equities tumbled by the most in almost three months as the rotation away from high-flying tech stocks gained steam, with investors questioning the sustainability of lofty valuations.’ BLOOMBERG
What Does Warren Buffett Want With Japanese Trading Houses?
‘Berkshire Hathaway gambles on five businesses that look a lot like his own’ THE ECONOMIST
Trader Fat Finger Blamed for Accidentally Selling 5 Million Company Shares
‘The chairman of TCL Technology Group Corp. said a trader accidentally sold 5 million company shares using his account - an incident that comes as the stock nears a record high.’ BLOOMBERG
Yet Another IPO: Bumble Eyes Going Public In 2021 With A Valuation Of More Than $6 Billion
‘Dating app Bumble, which markets itself as empowering women by letting them make the first move, is the latest company to gear up for an initial public offering, eyeing a valuation of between $6 billion and $8 billion, Bloomberg first reported.’ FORBES
We’re All Socially Awkward Now
‘As the school year begins amid a pandemic, many are concerned about the negative impact that virtual or socially distanced learning may have on children’s developing social skills.’ NYTIMES
WHAT WE'RE LISTENING TO
How A New Type of Money Caused the Financial Crisis
‘It's fun to talk about what money is, but often it's hard to connect the dots and make it actually relevant to the discussion of the economy and markets. But, in this episode, we do just that.’ BLOOMBERG
What Has Four Years of Donald Trump Meant For the Climate Crisis?
'The United States is one of the most polluting nations in the world – its factories, power plants, homes, cars and farms pump billions of tonnes of carbon dioxide into the atmosphere each year.' THE GUARDIAN
WHAT WE’RE WATCHING
‘A detective superintendent battles her own personal demons as she tries to get inside the head of a serial killer hiding behind a family-man facade.’ NETFLIX