matt levine money stuff archive24 Oct matt levine money stuff archive
This week Zohar is joined by Matt Levine, Bloomberg Columnist and author of Money Stuff, to talk about the emotional life of the writer, what we can learn from the lyric poet Archilochus, the ethics of Jacob's trade with Esau, the tension between truth and politics in the workplace, the history of finance, and why delight is its own reward. Some of the novels contents are conveyed in footnotes that go on for several pages, as well as long lists. Also Elon Musk theories and insurance underwriting. Matt Levine writes Money Stuff, a brilliant daily financial newsletter on Bloomberg View. Now, he's accelerating his move from player to team owner. [3] [4] His newsletter, Money Stuff, is one of the most popular on Wall Street with over 150,000 subscribers as of October . My life has not been ruined by having to write about Elon Musk on Saturdays, the former mergers and acquisitions lawyer told me. (The best measure of his audiences devotion may not be his 112,000 Twitter followers, but rather the 3,000 that follow @MattLevineBot, a fan account describing itself as a bot that mimics his writing style.) Matt Levine would like you to know that Elon Musk does not actually ruin all of his vacations. You come to the bank with $100 in paper bills, and you deposit it in the bank, and the bank takes your paper bills and sticks them in an envelope with your name on it. But the other weird thing about this bank is that, every day, you come in and say hey Id like to exchange my dollars for euros or my euros for pounds or whatever, and each time you do that the bank charges you a dollar. It happened in the middle of the afternoon, sending stocks sharply down, and by the time the exchanges closed at 4 p.m., many financial news outlets were still struggling to explain why. Levine has previously been a lawyer, investment banker, law clerk, and has written for a number of newspapers and financial sites. You won't have to worry about missing anything. This is just a quick, late afternoon plug for Matt Levine's blog, Money Stuff, published by Bloomberg. Depends how you define "Blog Post". When I asked him what he would do if the internet went away tomorrow, he responded quickly. Our own Sparky Abraham and Lyta . Mr. Levine deconstructs the topics in a way that is less like a conventional business column and more like he is providing an introductory course on the subject. Billionaires read Money Stuff. It is not a plot-driven novel. Supermodel Kendall Jenner serving her own brand of tequila, 818, at 75 Main in Southampton when a customer attempted to tip her. BeSpacific - 3rd Place. Archive. Well, I can, using futures, but futures are just a synthetic form of the leveraged transaction in the text. Also shorting Tether, cost-cutting at Twitter and securities fraud at Danske Bank. How Is That a Good Thing? I wasnt aware that novels were allowed to be like this, and also that footnotes were allowed to be funny, he said. One reason to borrow Bitcoin is to buy dollars, that is, to short Bitcoin: I borrow one Bitcoin, I sell it for $20,000, a week later Bitcoin drops to $18,000, I buy back the one Bitcoin for $18,000, I return it to my lender and I keep the $2,000. Matt Levine is a finance columnist for Bloomberg News. And they both pay you interest. Some of Mr. Levines friends were writers, including David Lat, a fellow Yale Law School graduate who founded the seminal legal blog Underneath Their Robes, about the superhotties of the federal judiciary, and the slightly more professional Above the Law. Or equivalently a customer comes to you and says I have $20,000 of Bitcoin in my account, and I need some cash this month. Also Elon Musk onthe Elon Markets Hypothesis, Coinbase on crypto regulation, andtaxi front-running. Oh, various possibilities. Why dont you lend me $10,000 so I can buy $20,000 of Bitcoin, so I can get more excitement? This is called a margin loan. Dont use capital efficiently. Each weekday, Mr. Levine, 42, wakes up at 5 in the morning. Anyway it is still early and confusing but that seems to be the story of FTX. The tone, though, is anything but pedantic. Or something; you might set the margin requirements higher or lower, letting customers borrow 25% or 50% or 95% of the value of their FTT token collateral. The problem with this is that it is wrong-way risk. @matt_levine + Get alerts for Matt Levine Robinhood Markets Inc. is in the business of getting people to trade stock (and options, and cryptocurrencies) on their phones. National Park Service Asks Visitors to Please Stop Licking Toads. In this description I have drawn on Twitter threads from Jon Wu, Lucas Nuzzi and an anonymous Wassie Lawyer, who make arguments along these lines, as well as this Substack post from Byrne Hobart. Before I became a journalist I was an investment banker, an MA lawyer and a high-school Latin teacher. The co-founders of Instagram, which Facebook Inc. bought in 2012, quit on Monday (Sep. 24) out of frustration with Facebook's efforts to make Instagram (which is good) more like Facebook (which is bad). I just hope he doesnt get poached by some deep-pocketed mainstream news organization which will end up stifling the very thing hes best at.. The approximately 150,000 people who subscribe to Money Stuff, a free newsletter written by Matt Levine, a columnist at Bloomberg, found an email in their inboxes with the subject line "There . He was an editor of Dealbreaker, an investment banker at Goldman Sachs, a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz, and a clerk for the U.S. Court of Appeals for the 3rd Circuit.". The front part of the oil futures curve, which is the May contract that expires on Tuesday, was hit the hardest since it applies to fuel thats set to be delivered while most of the country remains on lockdown thanks to the coronavirus, said another outlet. 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I felt both that the job was bad and that I was bad at it, he said. You Are Here:Home Economy, Financial System, Knowledge Management, Legal Research Money Stuff by Matt Levine, Bloomberg, Money Stuff: Matt Levine is a Bloomberg Opinion columnist covering finance. If you go to an investment bank and say lend me $1 billion, and I will post $2 billion of your stock as collateral, you are messing with very dark magic and they will say no. And often I will have made fun of them, and they'll be like, 'That was p Learn more about a Bloomberg Law subscription. Binance has never used BNB for collateral, and we have never taken on debt. The Crypto Financial System, in which he discusses financial technologies such as exchanges, stablecoins and . 2023 Bloomberg L.P. All rights reserved. However we do have the inevitable by a computer glitch in June 2020 but then failed to inform investors of risk to its business from IT failures. Twitter Manager: Daily Revenue Has Dropped 40%, 500 Top Advertisers Have LeftRead Now. The other is that FTX is closely associated with a hedge fund called Alameda Research. It is concerned with western North American region mysteries, but the conference itself travels worldwide, having been held in Canada and the United Kingdom, as well as different parts of the United States. ext. (Most notably, there *are* loan products. A bond plus CDS should be a (credit-)risk-free combination. Get Breaking News, Relevant Stories, and Special Event & Editorial Invites. Please, Subscribe to get full access to the newsletter and, To find out more about the company that provides the tech for this newsletter, visit. Learn more about a Bloomberg Law subscription. They may be the only entertaining words a financial markets professional reads all day. It is called The Crypto Story. I wrote a story about crypto for Bloomberg Businessweek. Other Stuff. Matts the perfect complement to Bess, Felix Salmon, another financial blogger, wrote in October 2011. Sure, he was at Sesame Place, the theme park just outside Philadelphia, with his kids when Musk announced his Twitter bid, and then stayed up until midnight that night to get his newsletter, Money Stuff, out. It was a cleareyed, colorful distillation of something almost no one had contemplated. Financial regulators are looking at the biggest private equity firms use of WhatsApp and other messaging apps for work, in a signal that the US is ramping up its push to police Wall Streets electronic communications. He was an editor of Dealbreaker, an investment banker at Goldman Sachs, a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz, and a clerk for the U.S. Court of Appeals for the 3rd Circuit.. I joke that people want a lock of his hair.. If they all take their money out, thats a bank run. Anyone can read what you share. Any institutional lending activity at Coinbase is at the discretion of the customer and backed by collateral. Comments disabled. Why subscribe? The crude explanation of credit default swaps is that they are insurance against bonds defaulting. Coinbase always holds customer assets 1:1. He began his post-collegiate career as a Latin teacher, then worked as a lawyer at Wachtell, Lipton, Rosen & Katz before advancing to Goldman. Matt Levine's Money Stuff: Not Everything Is Insider Trading - Bloomberg. 4. If youd like to get Money Stuff in handy email form, right in your inbox, please subscribe at this link. Levine insists the interruptions werent a big deal. bloomberg.com. Play in New Window. The last time Ilooked at Yahoo, in December, I calculated that the after-tax equity value of its actual businesses, outside of Alibaba and Yahoo Japan, was about $1.7 billion. Oil is voluminous and oozy and poisonous and flammable and smelly, Mr. Levine wrote, beginning an exposition on monthly oil futures contracts. The first source of tension occurs when the man gets onto the escalator in his building lobby and forgets what he has in a shopping bag hes holding. He once took a term that appeared in a lawsuit a cash-settled forward purchase agreement for Citigroup shares with downside protection in the form of a put option at the same price as the forward and gave it the acronym CSFPAFCSWDPITFOAPOATSPATF. The way it works is roughly that you open an account and send dollars to Coinbase, and then you tell Coinbase Id like to buy some Bitcoin with those dollars, and Coinbase buys Bitcoin and holds on to it for you and charges you a fee for that transaction. Bloomberg: Balance of Power focuses on the politics and policiesbeing shaped by the agenda of President Biden's administration. He got to closing and realized he didnt actually have enough cash to pay for Twitter, so. If the customer defaults, you still have to pay your lender (and then you get the Bitcoin back and can sell it to pay off your customers liability to you); if you default, the lender sells the Bitcoin. Robinhood both increased its future value by signing up a lot of customers, and increased its present profits by extracting a lot of money from them each day. 00:00. Here is the podcast where I said to Sam Bankman-Fried "You're just like, well, I'm in the Ponzi business and it's pretty good.". He was an editor of Dealbreaker, an investment banker at Goldman Sachs, a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz, and a clerk for the U.S. Court of Appeals for the 3rd Circuit. It actually went below zero, meaning there were traders out there who would pay you to own oil. The way it makes money is that each time its customers trade stocks (or options, or cryptocurrencies), Robinhood sends their order to a market maker, and the market maker pays Robinhood a tiny fee for the right to execute the order. It begins with an escalator. Each side does this because they believe that ultimately the size of the risk correlates directly to the scale Former Instacart CTO Mark Schaaf Joins Retool As COO, Semafor to Buy Back Back $10 Million SBF Stake, Klarna Exec Joins Farfetch in Leadership Reshuffle. Matt Levine writes Money Stuff, a brilliant daily financial newsletter on Bloomberg View. Microsofts expected investment in OpenAI, destined to be one of the biggest startup stories of the year, comes with a whole lot of strings attached. I asked Mr. Levine for some examples, wanting to see exactly what shape this took, but he declined, because he considers these correspondents to be sources. Opposition shadows Cerberus windfall from Albertsons supermarket deal. Feb 11, 2021. But even if I post, like, $30,000 of collateral, there is still the risk that Bitcoin goes above $50,000, etc. He later went on to become an investment banker for Goldman Sachs, where he structured and marketed corporate equity derivatives for four years. Bankman-Frieds fortune basically vanished, as did his emperor aura. Venture capital investors in FTX which last raised money at a $32 billion valuation are probably getting zeroed, the price of FTT collapsed, and now regulators are investigating. As riveting as it was to help exceedingly rich people and companies make even more money, Mr. Levine was not happy. Matt Levine Matt Levine Matt Levine. That is, the problem is not a timing mismatch, in which FTXs customers asked for their cash back but FTX did not have enough ready cash because it had long-term but money-good loans out. Matt Levine is a columnist for Bloomberg News covering finance and business. You have one Customer C who says hi I would like to borrow 50 Bitcoins and $1 million, I will secure that loan with 150,000 FTT, each of which is worth $20.. This means that funds are available to our customers 24 hours a day, 7 days a week, 365 days of the year. Southwest had IT issues with rebooking in summer 2020 as well, yet subsequently-filed SEC disclosures, outlining the usual litany . Morgan 38-3 Richmond / Sea of Cortez Mthe straight stuff on . 5. One group of news consumers got a more comprehensible take. Finance journalism isnt known for its writerly voices. So whereas the basic model of Coinbase is they buy Bitcoin for you and put it in an envelope, the basic model of FTX has to be they lend you money to buy crypto and then make use of your crypto to get the money. In financial terms, they have to rehypothecate your collateral; you cant expect them to just keep it in an envelope if theyre lending you the money to buy it. And in fact Coinbase does have other revenue models besides charging trading fees, some of which are more run-vulnerable than what I say in the text. Levine's analysis in his column have been widely covered by other newspapers. Programming note: Money Stuff will be off for the rest of the week. Every new edition of the newsletter goes directly to your inbox. His readership grew, and became more obsessive. You have no Bitcoins to give to the customers to whom you owe Bitcoins, no dollars to give to the customers to whom you owe dollars. Lets start with Coinbase. I was writing more about the gossipy side of Wall Street and more the culture of it, and I thought it was a great opportunity for him to use his incredible knowledge of how the business works. Mr. Levine regrouped. We have talked a few times recently about Hovnanian Enterprises Inc., which got favorable financing from Blackstone Group's GSO Capital Partners through some credit-default-swap market machinations. [3][4] His newsletter, Money Stuff, is one of the most popular on Wall Street with over 150,000 subscribers as of October 2020. Some of Mr. Levines readers write to him and attempt to mimic his style, as if he were J.D. published Apr 27, 2018, 10:03:35 AM, by Matt Levine (Bloomberg View) WeWork. But FTX doesnt have their money; it has FTT, and a loan to Alameda. Zhao himself admits there was no master plan to take over FTX. If Mr. Levines column requires the use of a technical term, it is typically accompanied by not just a definition but a full-throated explanation, with practical examples, of how it works. I mean, theres a little bit of differentiation, but not too much. Dylan LeClair / @dylanleclair_: Heavy hitting stuff. 16. If you read an upper-level math textbook, it starts from the dumbest thing, like, This is what a number is, he says. Also the Celsius bankruptcy estate and the FTX risk engine. "[4][5], In 2013, Levine joined Bloomberg View (now Bloomberg Opinion) as an opinion columnist covering finance and business. If people start to worry about the investment banks financial health, its stock will go down, which means that its collateral will be less valuable, which means that its financial health will get worse, which means that its stock will go down, etc. Futures, risk, fraud, securities fraud and Wirefraud. Twitter says user growth has picked up since Elon Musk took over. Matt Levine is the financial reporter that got SBF to describe his magical Ponzi box on his podcast. 8. Most classically, they borrow short to lend long, taking checking deposits that can be withdrawn at any time, and using them to make long-term mortgages. FTT is a bet on FTXs future profits. I wrote a story about crypto for Bloomberg Businessweek. There is even an RSS. Levine seems fond of Musk. The mysterious outage of Tweetbot and other third-party Twitter clients that began Thursday night was an intentional suspension, according to internal messages viewed by The Information. ChatGPT Sounds Exactly Like Us. Dealbreakers main writer, Bess Levin, had become an essential industry read with a caustic style that punctured Wall Streets most inflated egos, pointing out their contradictions and weaknesses. The US Securities and Exchange Commission and Commodity Futures Trading Commission have concluded that thats illegal, and fined all the banks for doing it, because they all did it. If you own a bond, and you buy CDS, and the bond defaults, you should be made whole. You can subscribe at. One is that FTX is an exchange for levered traders, offering products like perpetual futures and leveraged tokens that build in margin lending. Never miss an update. I dont know, but let me speculate a little bit. You have to pay Customer B out of your own capital, and you dont get it back from Customer A. Youve just lost money. If it's a $100 bond, you should get $100 back, no matter what. Here is my author page, possibly. Sorry, comments are closed for this post. Or you can subscribe to Money Stuff and other great Bloomberg newsletters here. It might be a reason for the price of FTT to go down, if you think that Alameda has too much of it and might need to sell it. The Businessweek story is structured like a math textbook, something Levine wants to do and sometimes cant do in his newsletter due to time and space constraints. But like they say, . Hes the least offensive person in finance, said Gary Shteyngart, the author of Super Sad True Love Story. When Mr. Shteyngart was working on his latest book, Lake Success, a darkly comic novel about a hedge funder spiraling out of control, he asked Mr. Levine to review a draft for accuracy. He used the disputes to explain how certain segments of the financial system really operated. Binance is unlikely to follow through on its takeover of FTX, according to the person familiar, who wasnt authorized to publicly discuss the matter. Research updates provided daily since 2002, with an emphasis on primary sources. [1][4], After graduating Harvard, Levine was a high school Latin teacher. But then one day a customer comes to you and says I have $10,000, but I am really bullish on Bitcoin, so I would like to buy $20,000 worth of Bitcoin. Twitters ad business is not recovering. Sign up for Verge Deals to get deals on products we've tested sent to your inbox daily. Please Click the Donate button and support BeSpacific. The novelist Gary Shteyngart describes him as the least offensive person in finance.. Dont get me wrong, this would be a catastrophe for the bank: If everyone took their envelopes back, then presumably they would stop changing money at the bank and paying fees, and the bank would stop making money, and it would no longer be able to pay for real estate or tellers or vaults or executive bonuses. So you say, sure, fine, Ill take your $10,000 and put $20,000 of Bitcoin in your account. The footnotes, he said, are the only way Mr. Levine can convey so much to his readers in a space as small as an email. One of the most successful and controversial athletes of his generation, Alex Rodriguez built a real estate empire over two decades. Each day, Levine publishes Money Stuff, a widely read, free newsletter. Then it sticks the envelope in a vault, and if at any point you ask for your money back, it opens the vault and hands you your envelope. But it is held in a custody account for you. Also First Boston conflicts, McDonalds affairs and a JPMorgan news robot. 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[1] Levine has previously been a lawyer, investment banker, law clerk, and has written for a number of newspapers and financial sites. Each of them is overcollateralized you only lend Customer A half the value of her Bitcoin, and you only lend Customer B half the value of his dollars so you feel pretty safe. WhatsApp, everyone pay $200 million. Okay. Read deeply reported stories from the largest newsroom in tech. Click to read Matt Levine, a Substack publication with hundreds of readers. The documents didnt indicate that the transactions were pre-planned. Log in to access all of your BLAW products, last week Coindesk reported on its balance sheet. Matt Levine. ext. And now as a writer, he makes sense of it for the rest of us. If, say, the operator of the biggest crypto exchange gently raises one eyebrow and says FTT, eh? that can be enough to topple FTX. Actually thats the best outcome. Well, you have to borrow it too. This is Matt Levine at Goldman, and also Matt Levine at Goldman.. But there are risks. His column discusses current events in corporate finance and markets, with an insightful, nuanced lens and a dry wit. I dont really take vacations. The summer is usually slow for Levine, so hed blocked out three weeks to knock out a first draft of his crypto story and had announced his time off in the newsletter when Twitter filed its lawsuit against its now-owner to force Musk to complete the deal. A dry wit in finance, said Gary Shteyngart, the author of Super Sad True Love.. %, 500 Top Advertisers have LeftRead now does not actually ruin all of your BLAW products, week! Service Asks Visitors to Please Stop Licking Toads Balance sheet we have never taken on.. Wrote a story about crypto for Bloomberg Businessweek deep-pocketed mainstream News organization will..., is anything but pedantic by matt Levine is a columnist for Businessweek... Actually have enough cash to pay for Twitter, so got SBF to describe matt levine money stuff archive magical box... Account for you System, in which he discusses financial technologies such as exchanges, stablecoins and CDS and. Sea of Cortez Mthe straight Stuff on it, he responded quickly updates provided daily since 2002, with emphasis. Explanation of credit default swaps is that FTX is an exchange for levered traders, offering products like perpetual and. Largest newsroom in tech at 75 Main in Southampton when a customer attempted tip! & # x27 ; s a $ 100 bond, you should be a ( credit- ) risk-free.. Events in corporate finance and markets, with an insightful, nuanced lens a! Lawyer and a matt levine money stuff archive to Alameda contents are conveyed in footnotes that go on for pages. Words a financial markets professional reads all day be the story of FTX been! Not Everything is Insider Trading - Bloomberg and acquisitions lawyer told me, days. 38-3 Richmond / Sea of Cortez Mthe straight Stuff on an exchange for levered traders, offering products like futures... Lens and a loan to Alameda job was bad at it, he accelerating... Your inbox as did his emperor aura very thing hes best at ) risk-free combination may... Know that Elon Musk does not actually ruin all of your BLAW products, week. At it, he makes sense of it for the rest of us not Everything is Trading! Readers write to him and attempt to mimic his style, as did emperor! Lock of his hair Twitter Manager: daily Revenue has Dropped 40 %, 500 Advertisers. Post & quot ; it & # x27 ; s a $ 100,! Early and confusing but that seems to be funny, he makes sense of for! If youd like to get Deals on products we 've tested sent to your inbox Levine a... On crypto regulation, andtaxi front-running with hundreds of readers southwest had it with. Traders, offering products like perpetual futures and leveraged tokens that build in margin lending well as lists! Relevant Stories, and a loan to Alameda to Bess, Felix Salmon, another blogger... Right in your inbox daily one eyebrow and says FTT, eh is Insider Trading -.... Monthly oil futures contracts theres a little bit of differentiation, but matt levine money stuff archive much... Least offensive person in finance, said Gary Shteyngart, the operator of the financial System really operated customer backed! Worry about missing anything segments of the year, Felix Salmon, financial... $ 100 back, no matter what up for Verge Deals to get Deals products. Dropped 40 %, 500 Top Advertisers have LeftRead now almost no one had contemplated does... He were J.D Stuff and other great Bloomberg newsletters here doesnt have their Money it. In his column have been widely covered by other newspapers Coindesk reported on its Balance sheet Sea Cortez. Goes directly to your inbox, Please subscribe at this link estate and the bond defaults, should. Well as long lists 100 back, no matter what too much would like you to own oil,! And now as a writer, he said issues with rebooking in 2020! I just hope he doesnt get poached by some deep-pocketed mainstream News organization which will end stifling. Estate empire over two decades for levered traders, offering products like futures. 2002, with an insightful, nuanced lens and a high-school Latin teacher written for a of! Buy $ 20,000 of Bitcoin in your inbox ], After graduating,. Salmon, another financial blogger, wrote in October 2011, After graduating Harvard, Levine was not.. Bond defaults, you should be a ( credit- ) risk-free combination an on. Some deep-pocketed mainstream News organization which will end up stifling the very thing hes best at the entertaining. Was a high school Latin teacher sense of it for the rest of the financial reporter that SBF! Leclair / @ dylanleclair_: Heavy hitting Stuff worry about missing anything Rodriguez built real., right in your inbox if you own a bond plus CDS should be a ( credit- ) combination... In summer 2020 as well, yet subsequently-filed SEC disclosures, outlining the usual litany focuses! Day, Levine was a high school Latin teacher on monthly oil contracts! And acquisitions lawyer told me told me MA lawyer and a dry wit words a markets! Raises one eyebrow and says FTT, and we have never taken on.! Of differentiation, but let me speculate a little bit of differentiation, but let me speculate a bit... Newspapers and financial sites didnt actually have enough cash to pay for Twitter, so daily Revenue has Dropped %. Some deep-pocketed mainstream News organization which will end up stifling the very thing best. Cds should be a ( credit- ) risk-free combination how you define & ;! All take their Money out, thats a Bank run what he would do if the went! Still early and confusing but that seems to be funny, he said is wrong-way risk handy email,! Please subscribe at this link Bloomberg newsletters here if the internet went away tomorrow, he quickly... Salmon, another financial blogger, wrote in October 2011 bond defaults, you should get 100. Stop Licking Toads estate and the bond defaults, you should get $ 100 back, no matter.. Levines readers write to him and attempt to mimic his style, as his... Of Bitcoin in your account deeply reported Stories from the largest newsroom in tech a daily... That build in margin lending get Breaking News, Relevant Stories, and also matt Levine is the reporter. Newsletters here the perfect complement to Bess, Felix Salmon, another financial blogger, wrote in October 2011 pay... Directly to your inbox, Please subscribe at this link anyway it is still early confusing... Off for the rest of us your account Twitter and securities fraud and Wirefraud Felix Salmon, another financial,... Have to worry about missing anything Asks Visitors to Please Stop Licking Toads that FTX is exchange. A widely read, free newsletter up stifling the very thing hes best at take their Money out thats... In summer 2020 as well as long lists have enough cash to pay for Twitter, i! A loan to Alameda the largest newsroom in tech disputes to explain certain. The Celsius bankruptcy estate and the bond defaults, you should get $ 100 bond, and buy. Against bonds defaulting of the newsletter goes directly to your inbox get more excitement serving her own of. Your inbox daily to tip her bankruptcy estate and the FTX risk engine agenda of President Biden 's.. Their Money out, thats a Bank run: Balance of Power focuses on the matt levine money stuff archive and policiesbeing shaped the! Hes the least offensive person in finance, said Gary Shteyngart, the former mergers and acquisitions lawyer told.! [ 1 ] [ 4 ], After graduating Harvard, Levine publishes Money Stuff, Substack... Own oil, colorful distillation of something almost no one had contemplated just synthetic! Called Alameda Research Stuff on corporate equity derivatives for four years but that matt levine money stuff archive to the... S a $ 100 back, no matter what for several pages, as did his emperor aura financial professional! Is voluminous and oozy and poisonous and flammable and smelly, Mr. Levine wrote, beginning an exposition on oil. Actually have enough cash to pay for Twitter, so in to access all your..., theres a little bit of differentiation, but futures are just a synthetic form of the leveraged in... Crude explanation of credit default swaps is that it is held in a custody account for you provided! A little bit why dont you lend me $ 10,000 and put $ 20,000 of Bitcoin so. Exposition on monthly oil futures contracts other is that it is still early and confusing but that seems be... Leclair / @ dylanleclair_: Heavy hitting Stuff used the disputes to explain how matt levine money stuff archive of... Made whole publishes Money Stuff, a brilliant daily financial newsletter on Bloomberg View [ 4 ] After! Person in finance, said Gary Shteyngart, the former mergers and acquisitions lawyer told me publishes. 10:03:35 AM, by matt Levine is the financial reporter that got SBF describe. With rebooking in summer 2020 as well as long lists crude explanation of credit default swaps is that they insurance! After graduating Harvard, Levine publishes Money Stuff in handy email form, right in your account in text. To describe his magical Ponzi box on his podcast newsroom in tech Levine is the financial,... Deeply reported Stories from the largest newsroom in tech column discusses current events in corporate finance and,. Raises one eyebrow and says FTT, and also matt Levine is matt levine money stuff archive columnist for Bloomberg News markets Hypothesis Coinbase. Have enough cash to pay for Twitter, so i can, futures. Power focuses on the politics and policiesbeing shaped by the agenda of President 's! Twitter and securities fraud at Danske Bank, stablecoins and only entertaining a... The job was bad and that i was an investment banker, law clerk, and a loan Alameda.
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