(Bloomberg) -- Billionaire Mark Cuban has been trying to do his part to help hospital workers get more protective equipment, working with a non-profit group and delving into the market himself to find gold-standard N95 respirator masks he could buy for medical personnel.He uncovered something else instead. What he found poking around in that marketplace is leading him increasingly to believe that respirator maker 3M Co. is shirking its duty to keep prices low and get masks where they’re needed most during a national emergency. The problem, he says, is that 3M sells the masks through a network of resellers who aren’t held accountable for raising prices and don’t have to direct their sales to hospitals.“3M lists all its distributors online, the ones buying and selling these things, and these distributors are making as much money as they possibly can,” Cuban said in an interview. “It’s wrong, it’s criminal.”A representative for...
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]...
Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]...
(Bloomberg) -- There are few corners of the global financial market that have been upended as spectacularly, or as oddly, by the coronavirus pandemic as gold trading.Not only are prices swinging in an erratic fashion -- surging one moment and crashing the next -- that is undermining the metal’s vaunted status as a haven in times of crisis, but unprecedented logistical disruptions have also kicked off a frantic hunt for actual bars of gold.At the center of it all are a small band of traders who for years had cashed in on what had always been a sure-fire bet: shorting gold futures in New York against being long physical gold in London. Usually, they’d ride the trade out till the end of the contract when they’d have a couple of options to get out without marking much, if any, loss.But the virus, and the global economic collapse that it’s sparking, have...
