This week’s bumper Trader Digest investigates the trading habits of Millennials, uncovers the mystery trader who rubbed Wall Street up the wrong way, and finds the world's first Bitcoin ATMs...
Reading List
Why are millennials investing less and trading more?
"To make long-term investments, an investor must be patient. As these investments take their time to bear fruits, it does not go so well with the millennials who like quick results." IIFL
The mystery trader who roiled Wall Street
“Former Blackstone executive used complex credit derivatives to become a feared hedge fund manager but left behind a trail of recriminations" FT
What I learned working with Millennials at Morgan Stanley & Goldman Sachs
"If you're a young person in an investment bank, you're a high achiever. You're probably also keen to make an impression and to advance up the banking hierarchy. I know: I've been there myself - I spent over eight years in banking, first at Goldman Sachs and then at Morgan Stanley. " eFinancialCareers
Binance, the world's largest crypto exchange, plans $1 billion investment fund
"The upstarts of crypto aren't just aiming to disrupt the startup status quo, some are rivaling traditional venture capital investors, too. That's particularly evident today after Binance, the world's largest crypto exchange based on daily trade volumes, announced a $1 billion fund to back blockchain and crypto startups." Yahoo
Now, blockchain can turn carbon credits into tokens for trading
"Companies are developing a crypto token that represents carbon credits to be traded on a blockchain ledger, creating a more efficient and transparent method for exchanging the valuable certificates tied to reducing greenhouse gas emissions." Computer World
How Social Media Is Transforming The Trading World
"Since 2008, many firms have begun to use Twitter as a form of communicating news to consumers and investors because of its appeal and focus on the 140 characters enabling people to communicate concise, valuable information. For traders, there are specific reasons why they are willing to put their money into their social media mouths." Forbes
Fed proposes changes to rule limiting risky trading on Wall Street
"The Fed proposed to ease the Volcker Rule, which bars banks from high-risk activity for their own profit with depositors’ money" Guardian
Crypto On the Go: Prague Subway Gets 10 New Bitcoin ATMs
"GENERAL BYTES, a Prague-based bitcoin ATM manufacturer, has installed 10 new cryptocurrency ATMs throughout the Prague subway. With this latest move, commuters using the busy Prague Metro can buy and sell virtual currencies on the go. One of the busiest metros in Europe, over 1.2 million people pass through the Prague subway daily." Yahoo Finance
Rogue Traders: Alexis Stenfors
He’s the man who lost his bank $456 million and was handed a five-year trading ban. We speak to former Merrill Lynch trader Alexis Stenfors and find out what he’s up to now…
What to Watch
Billions
"Season 3 continues as Paul Giamatti and Damian Lewis star in this bold drama set in the ego-driven world of New York high finance." Sky Atlantic
For the Headphones
145: Forex Trader Motivation / Advice From Top Traders Around The World
"This short episode is a compilation of advice from traders I’ve interviewed on the Desire To Trade Podcast over the past 2+ years. Use this as motivation to reach your Forex trading goals or as Forex trader advice to listen to on-the-go." Desire To Trade
