Cutting szn

[The beef 675] [I'm an image] “The bright side? It’s better to have been fired by Morgan Stanley than to work at Wells Fargo.” - Jeff [Read The Beef Online - Click Here]( Hey there carnivores, Markets fell on Monday as fears of the looming December 15th tariffs sent investors for the exits. Today we’re diving deep on some big bank job cuts. Keep raging, Jeff & Jason [Image] [I'm an image] Cutting szn Imagine getting fired this week, right before getting together with family for the holidays. That would suck… Welp, from 1.5k employees at Morgan Stanley that nightmare is about to play out in real life. The bank announced yesterday that [it is laying off employees]( in the tech and operations divisions, including several managing directors. Back-office problems, amirite? That number represents roughly 2% of the bank’s entire workforce on a global level. The “indefinite holiday” is part of a theme around the world as investment banks have been trimming staff… and letting the machines take over. MS expects to take a $150M to $200M hit on the cuts this quarter. But wait, there's more! Morgan has been dealing with another headache in the form of some questionable valuations at its currency-options desk. The bank is evaluating whether or not some traders concealed up to $140M in losses thanks to the esoteric nature of the currencies they were working with. Of course, it could be worse, MS could be Wells Fargo. Despite the recent issues, Morgan’s stock price is up 25% this year. HSB C-ee you later Some big names in the C-Suite at HSBC [are getting the ax]( as interim Chief Exec Noel Quinn prepares to make his role more permanent. Quinn announced that the London and Hong Kong bank’s Investment Chief, COO, and CRO are all being replaced as part of a broad restructuring. The moves are fallout stemming from the [departure]( of CEO John Flint after just 18 months in office. Sounds stable... Foreign profits Turns out HSBC’s chairman Mark Tucker is the real orchestrator (read: grim reaper) behind the sweeping cuts and the bank’s expected focus on its Asia business. Tucker laid out plans to reduce trading in Western markets and sell part of its French retail business… which would lead to more job cuts. The bottom line... With technology making man-power less mission-critical, expect to keep seeing a reduction in staff in the industry. Citibank and Deutsche Bank [have already gone through]( massive rounds of cuts... and with that comes savings. Talk about an investor's wet dream... Bottom line: “Allow me to play the world’s tiniest violin for HSBC’s C-suite.” [I'm an image] You probably know who profits when a private company IPOs… But do you know who doesn’t profit? Spoiler: it’s you. You don’t have to be a VC, private investor or early employee to profit off of an IPO any more. Our buddy Ben Sturgill built the [IPO Pay Day strategy]( with a proprietary trading calendar so it’s literally impossible to miss a trade. [TELL ME MORE]( [I'm an image] ☑️ WATCH IT! I'M DRIVIN' HERE! A Tesla Model 3 sedan that was operating with Autopilot [hit a parked police cruiser]( on a Connecticut highway over the weekend. The collision occurred around 12:40 AM, leading to the obvious question “Was the Model 3 doing a bit of boozin?” + Apparently, Teslas [also had issues]( with stationary objects over the weekend. Elon himself hit a traffic pylon with his Cybertruck prototype after leaving dinner on Saturday. Fun fact: it isn’t entirely clear if the truck was street legal. ☑️ Write it down. One of Juul’s earliest investors, Tiger Global Management, [wrote down its investment]( of the e-cigarette startup to $19B. This is a far cry from the $38B that Tiger valued Juul at last December... long before parents cared about the kids vaping during recess. Tiger wasn’t the only one to write down the value of the e-cig company, as Juul wrote down its own valuation from $38B to $24B as of the end of Q3. ☑️ RIP In Peace. Paul Volcker, the namesake to the Volcker Rule ([WTF is that?](), passed away Monday at the tender age of 92. He [served the public]( for almost three decades and was the chairman of the Fed in the 80’s during the worst recession in 40 years. He famously pushed interest rates as high as 20% to get runaway inflation under control. In response to being questioned about his bold decision, he said “I’m not sorry about it.” Neither am I Paul, neither am I. ☑️ The fire and the flame. Another day, another reminder that only you can prevent forest fires. PG&E [will pay $4.9B in connection]( to a new $13.5B victim's settlement agreement for those affected by the devastating California wildfires. This brings the total fire-related charges to $25B, which is $8.4B more than PG&E initially offered to resolve the claims. This settlement should, however, remove a substantial roadblock for PG&E to emerge from bankruptcy. Shares rose 15.85% on the day. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. 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