As a young child, did you ever dream of having $1 million in the bank?I used to think that way, but my perspective changed over the years. $1 million is no longer a guarantee of financial freedom. For someone spending $200,000 a year in good health, $1 million won’t go very far during retirement. For someone else who spends $40,000 annually and has Social Security income, saving less than $1 million may be appropriate……….
SBI Group, a Tokyo-based financial services firm that launched (last year) the first bank-owned digital currency exchange in Japan, has invested $15 million in Tangem, a Switzerland-based developer of “smart physical banknotes” for cryptocurrencies. As explained on Tangem’s official website, the company has designed proprietary slimline hardware wallets for digital assets – which it refers to as “smart banknotes………
‘Bond King’ Jeffrey Gundlach, founder of DoubleLine Capital LP, an investment firm with $200 billion under management, gave his 2019 outlook on stocks and Bitcoin during his annual “Just Markets” webcast on Wednesday. Gundlach, who called the stock market sell-off in December 2018, says Bitcoin could bounce 25%. “I don’t recommend anything with Bitcoin, but if you really want to speculate, I think it could make it to $5,000. Talk about an easy 25%.”…….
By now, we’ve just about heard it all from crypto skeptics. From some of the world’s wealthiest investors such as Warren Buffet to economists such as Nouriel Roubini. This time, however, the skepticism is coming from another party: the Indian police. Police from the Northern Indian state of Jammu and Kashmir recently issued a warning to Indians against investing in cryptos. Cryptos aren’t backed by the government or the reserve bank. They thus pose a heightened risk to their investors and could lose them money. Cryptos also use an encrypted distributed ledger, making the transactions private. This makes them highly susceptible to drug trafficking and terror funding, the police explained.
What would you do if you suddenly had $10,000 in cash at your disposal? Would you splurge for a trip to some far-flung corner of the world? Trade up for a nicer vehicle? Buy new furniture and a hot tub for your backyard deck? Those ideas might be the first that come to mind, but they may not be ones you will feel proud of ten or twenty years from now. Unless you have high interest debt you could pay off, your best bet with any “found money” is always going to be investing it for the long haul…..
Singapore’s law enforcement authorities have extended their criminal probe against the Malaysian state investment fund 1Malaysia Development Berhad (1MDB) to include Goldman Sachs, according to a Bloomberg report.
Although the city-state’s authorities have been investigating Goldman Sachs’ involvement with the Malaysian scandal-plagued firm since 2017, now they are focusing on the firm’s local unit. The primary focus of the investigation is to see if Goldman’s Singapore subsidiary was involved in moving around $600 million acquired from the three controversial bond deal sales from 2012 to 2013.
The Scandal Explained
1MDB came under the limelight soon after its establishment in 2009, which was then chaired by the former Malaysian Prime Minister Najib Razak. Leaked financial documents surfaced that huge sums of money were borrowed via government bonds and syphoned into bank accounts in Switzerland, Singapore, and the US.
When hedge fund Trian Partners in October 2015 disclosed a $2.5 billion investment in General Electric GE -1.85% in support of Jeff Immelt’s efforts to reshape the conglomerate, it was the culmination of a multiyear effort by GE’s then-CEO. Two years prior, Immelt had invited Trian’s billionaire cofounder Nelson Peltz to speak at a corporate offsite to GE’s top brass, including some board members, and prod the century-old Dow giant to rein in overhead. After, the hedge fund kept an open dialogue with Immelt as he made some of his biggest decisions as CEO and repositioned the company from a near-death experience during the 2008 crisis…………..
From an office suite on the 26th floor of the iconic Frost Bank Tower in Austin, Texas, a little-known recruiting firm called Crossover is searching the globe for software engineers. Crossover is looking for anyone who can commit to a 40- or 50-hour workweek, but it has no interest in full-time employees. It wants contract workers who are willing to toil from their homes or even in local cafes. The best people in the world aren’t in your Zip code,” says Andy Tryba, chief executive of Crossover, in a promotional YouTube video. Which, Tryba emphasizes, also means you don’t have to pay them like they are your neighbors. “The world is going to a cloud wage……………
Nigerian-born serial entrepreneur John Orajiaka, 43, is the founder of Adnol Multimedia a $14 million (annual revenues) Pan-African value-added telecommunication service provider. Active in more than ten African countries including Nigeria, South Africa, Liberia, Cameroon, Rwanda and Swaziland, Adnol Multimedia provides everything from basic messaging and voice applications to digital lifestyle solutions using short codes for subscription services such as caller ring-back tunes, mobile advertising, mobile health, coupon services and mobile games to more than 7 million customers……….
While more than $600 billion of cryptocurrency wealth has been wiped out in the last several months amid a market meltdown, the man who facilitates a big chunk of the nation’s cryptocurrency trading has become a billionaire. In late October, Brian Armstrong, the CEO of cryptocurrency exchange operator Coinbase, oversaw a financing round in which the company he cofounded raised $300 million at a valuation of $8 billion………..