Force Majeure Is Not A City In France

How Wall Street Launders Dogsh*t Into Retirement Funds Submitted by QTR's Fringe Finance One of the more embarrassing habits of modern finance is its insistence on pretending the stock market has some integrity left. Capital, we used to think, flowed to the most productive businesses. Prices reflected fundamentals. Risk was priced. The market, in the long run, separated signal from noise and rewarded cash generation over fantasy. That is the civics-class version of markets, and at this point it bears no resemblance to the one we actually trade in. The market’s core failure...

PayPal Crashes After Advent, Stripe Abandon $50 Billion Takeover Bid PayPal shares plunged as much as 16% in premarket trading Friday, the most in months if the losses hold through the cash session, after a consortium led by private-equity firm Advent International and payments giant Stripe abandoned its takeover bid for the struggling payment processor. Bloomberg reports that the consortium offered more than $50 billion for PayPal in what would have been one of the largest leveraged buyouts in history. As per the report: The group is no longer pursuing a deal for...

The dominant narrative in relation to the Iran War is that the United States and Israel are mercilessly mauling the Iranians, and are on the verge of administering the coup de grâce, after which Iran will obeisantly submit to unconditional surrender, and bathe Emperor Trump’s feet with their penitent tears. At least that’s the Hollywood […]