The Reddit geek who raked in $100,000 with 2 trades is ‘taking a small break’

The Reddit geek who raked in more than $100,000 with two trades is taking a break from investing. Eddie Choi turned less than $800 into nearly $108,000 by purchasing puts on Roku stock and SPY — the S&P 500 exchange-traded fund — then profiting enormously when they fell, Bloomberg reported. Choi returned to WallStreetBets, the […]

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The Reddit geek who raked in $100,000 with 2 trades is ‘taking a small break’

The Reddit geek who raked in more than $100,000 with two trades is taking a break from investing. Eddie Choi turned less than $800 into nearly $108,000 by purchasing puts on Roku stock and SPY — the S&P 500 exchange-traded fund — then profiting enormously when they fell, Bloomberg reported. Choi returned to WallStreetBets, the […]

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Boeing slides on report that employees may have misled the FAA on the doomed 737 Max (BA)

Shares of Boeing traded as much as 4% lower Friday after Reuters reported that employees of the airplane manufacturer may have misled the Federal Aviation Administration in 2016 regarding the 737 Max. Boeing reportedly turned over internal messages between two employees to the FAA that suggest the company may have lied about a key safety […]

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Messages reveal a top Boeing pilot knew about problems with the 737 Max’s ‘egregious’ behavior before 2 deadly crashes

Boeing’s chief technical pilot on the 737 Max project told another employee in 2016 that there were “egregious” problems with the jet’s automated MCAS system. The pilot made those observations at least two years before the first of two deadly crashes involving the 737 Max, in October 2018 and in March 2019. Internal instant messages […]

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$8.8 billion ExodusPoint’s head of data strategy is out, but the hedge fund’s 15-person data team has no plans to slow down

ExodusPoint lost its head of data strategy Chris Petrescu last week, sources tell Business Insider. Petrescu was in charge of finding alternative datasets for the hedge fund’s portfolio managers to use, and was a frequent panelist at data conferences. Exodus, Michael Gelband’s $8.8 billion hedge fund, still has a 15-person data team, a person close […]

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The highest credit score is 850, but you don’t need it to get the best interest rates

The highest credit score is 850. You don’t need a perfect score to qualify for the best interest rates on loans, but your score will need to fall within the Good to Excellent range. If you’re looking to improve your score, making on-time payments is most important. But you’ll also want to pay attention to […]

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Chase recently added Emirates as a transfer partner — here are the best ways to use points for award flights and seat upgrades

Several Chase credit cards, including the Chase Sapphire Reserve and Chase Sapphire Preferred Card, earn Ultimate Rewards points, which you can transfer to airline and hotel travel partners. While Chase’s rewards program is among the most valuable, it’s made updates in response to other programs like Amex Membership Rewards and Capital One adding new travel […]

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Legalist, a firm that funds third-party lawsuits, has hired an investment director from SoftBank as CFO

Legalist, which invests in commercial litigation that requires less than $1 million in funding, raised $100 million for its second fund this year. Sean Lieu, a former SoftBank investment director who helped set up the firm’s Shanghai office, joined Legalist as CFO. SoftBank, known for its big bets on tech companies, has had a rough […]

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One Wall Street firm just slashed Beyond Meat’s price target by nearly 25% (BYND)

Bernstein lowered its Beyond Meat price target to $130 from $172 in a Friday note. Shares slid as much as 6.8% on the news. The lower target stems from Bernstein’s reduction of the company’s enterprise-value-to-sales multiple to 15 times from 20 times. Bernstein still expects that Beyond Meat will post solid full-year sales, but says […]

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‘Like 4chan found a Bloomberg terminal’: Here’s how one Reddit user raked in a 14,000% return on two simple trades (ROKU, SPY)

A member of the Reddit page WallStreetBets grew $766 into $107,758 in two late-September trades, Bloomberg reported Thursday. Eddie Choi first purchased put options for Roku stock, profiting $49,787 when the streaming provider’s shares tanked more than 19% on September 20. The trader then used his profits to buy put options for the SPDR S&P […]

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Photo of ex-Goldman CEO Lloyd Blankfein loving retirement shows how dramatically he’s ‘lost stature’

Former Goldman Sachs CEO Lloyd Blankfein posed with Harvard’s men’s basketball team and comically took a jab at his height amongst the collegiate athletes. “I knew I’d lose stature when I left my old job,” he wrote in a tweet. “Thank you Harvard basketball team for rubbing it in!!” Now read more markets coverage from […]

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Morgan Stanley’s big bet on winning over unicorn startup employees is starting to pay off (MS)

Morgan Stanley’s chief financial officer said Thursday that the firm’s newly acquired Solium Capital — now known as Shareworks by Morgan Stanley — has won 265 corporate clients the deal closed in May. Shareworks runs a platform for tracking a host of companies’ employees’ stock awards and options — typically enjoyed by many start-up employees […]

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PayPal and Synchrony are teaming up to launch a Venmo credit card in 2020

This story was delivered to Business Insider Intelligence Payments & Commerce subscribers earlier this morning. To get this story plus others to your inbox each day, hours before they’re published on Business Insider, click here. The product, expected to debut next year, will be issued in partnership with Synchrony Financial and will “round out” what […]

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US Bank customers are becoming increasingly digitally active despite lagging digital loan sales

This story was delivered to Business Insider Intelligence Banking subscribers earlier this morning. To get this story plus others to your inbox each day, hours before they’re published on Business Insider, click here. US Bank’s Q3 2019 earnings revealed that of its Consumer Banking customers active in at least one channel in the previous 90 […]

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3 reasons to invest in real estate, according to a financial planner who owns 10 rental properties

Brent Sutherland is a certified financial planner and real-estate investor. In an article published on CoachCarson.com, Sutherland explains why he recommends real estate investing as a tool for building wealth — and why most financial advisers don’t. He says real estate can diversify your income, produce near-immediate results, and help you become financially independent sooner. […]

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The maker of Absolut vodka is getting whacked by China’s crackdown on organized crime

Pernod Ricard, the maker of Absolut vodka and Malibu rum, is feeling the pain from China’s anti-crime campaign. The liquor giant’s sales of Chivas Regal whisky fell last quarter as the Chinese government cracked down on money laundering, drug dealing, and prostitution by forcing nightclubs and karaoke bars or “KTVs” to close earlier. The campaign […]

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