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Instant messaging and twitter may allow traders to be more profitable than when they work alone or under centralized command.
A new study by a team at the Kellogg School of Management found that internet tools that allow traders to collectively process information without central coordination can increase trading profits.
The emotional investor roller coaster is on hyperdrive as the nuclear situation in Japan remains unknown. With 2011 gains wiped out and now the Yen soaring the markets wait to see if the central banks will intervene.
With all these questions weighing on the markets, I asked Mark Zandi, Chief Economist at Moody's Analytics to offer us his insight.
Ever since the nuclear plants began deteriorating in Japan, there's been no shortage of coverage in the media. But it's been very hard to find anything on the bottom line: how bad could this get? If everything goes wrong, if we get multiple meltdowns, what happens? What's the worse case scenario?
Aid Groups Temper Their Contribution Aid groups say Japan, one of the world's wealthiest nations, has the ability to deal with the disaster's aftermath on its own [Wall Street Journal]
Japanese helicopter-dumping water on reactor — in what some see as a Hail Mary pass to avert disaster. [CNBC]
LIBOR probe widens! [CNBC via FT]
Yen approaches all time high. [Reuters]
[Reuters | Hat Tip: ZeroHedge]
Fukushima's Heroes . [NY Post]
An analysis of mortgage fraud settlement—and how it may benefit the banks. [DealBook via ProPublica]
Don't wear green, it's cheesy. And don't kiss people you know, it's creepy. Just carry like any other Friday eve:
A wiretapped telephone conversation played earlier this week during the trial of Galleon founder Raj Rajaratnam reveals then-Goldman Sachs director Rajat Gupta disclosing confidential board information to Rajaratnam in 2008.
Oddly enough, it may wind up being the best defense Gupta has against civil charges of insider trading.
The Japanese Yen has been gaining strength against the dollar following the tsunami and Japan's subsequent nuclear crisis—so much so that I thought I was reading the chart backwards.
The general explanations given for the Yen's appreciation are currency repatriation and risk aversion.
In an article in the business blog City AM, Boris Schlossberg, Director of Currency Research, at GFT Forex explains :
A Chinese coal baron has just purchased a red Tibetan mastiff for 10 million yuan, which is about $1.5 million.
If Japan's nuclear disaster has made you wonder which of the 104 US nuclear plants is the riskiest, the Nuclear Regulatory Commission is one step ahead of you.
In fact, the NRC has even calculated the risk of "catastrophic failure" at a US nuclear plant caused by an earthquake—which is precisely the scenario that ultimately occurred in Japan.
JPMorgan Chase will cut about 5,000 jobs over the next year, as the bank closes branches and slims down operations, The Wall Street Journal reported.
Banks have been outperforming the market, and in the long term, technician Rich Ross sees a "beautiful breakout."
After Dick Fuld's first public speech since the crisis, this PR guy had one thing to say: Don't call it a comeback.