One retail broker once told me that retail traders are like grass. Grass goes up. You have to get all these new retail traders and at that time they might blow up. So basically you're cutting the lawn and then you have to find new retail traders. Retail traders look to where there's volatility and so they'll move. A lot of people are saying that you're they're seeing retail traders move into gold because there's more volatility than gold or they're seeing more volatility in copper so they're moving into cop ...

According to Bloomberg, Coinbase Global has received conditional preliminary approval from the OCC to establish a National Trust Bank. The federal trust charter will provide a unified regulatory framework for its custody business, enabling Coinbase to offer regulated services including digital asset custody, tokenized asset management, and trade settlement.https://t.co/P5xEN6BrvT ...

JUST IN: 🇺🇸 Coinbase gains conditional approval for a US national trust company charter. ...

JUST IN: Coinbase receives conditional approval from US regulator OCC to operate the 'Coinbase National Trust Company' 👀🇺🇸 https://t.co/yZTiU2KnxM ...

Algorithmic-trading firm XTX Markets’ earnings rose roughly 33% last year as the firm’s revenue from market making and proprietary trading increased https://t.co/EQP3DZl5XK ...

🚨BREAKING: GLOBAL PLATFORM KROLL ASSIGNS INVESTMENT-GRADE RATING TO RIPPLE PRIMEGlobal credit rating agency Kroll has officially assigned an investment-grade (BBB) issuer rating to @Ripple Prime.The rating reflects the prime brokerage platform's financial strength, business expansion, and disciplined execution within the digital asset sector.Ripple Prime operates at the intersection of traditional and digital finance, providing institutional clients with well-capitalized brokerage services.This designation ...

Legal stuff:Securities offered by Coinbase Capital Markets (member SIPC, FINRA). Listed futures and swaps are offered by Coinbase Financial Markets ("CFM"), a NFA member firm. Crypto offered by Coinbase, Inc. Trading involves substantial risk and may result in the loss of your entire investment. Information provided for informational purposes only. Not investment advice or recommendation to purchase a particular asset or security or to employ a particular investment strategy. ...

🚨 CRYPTO: ETORO GOES LIVE WITH CRYPTO TRADING IN NEW YORK, EXPANDS ACCESS TO 48 US STATES@eToro has launched crypto trading for New York residents, making it one of just 33 entities to activate the coveted New York BitLicense for live services. The platform now offers digital asset trading alongside stocks, ETFs, and options across 48 US states.The go-live follows years of regulatory engagement with NYDFS to secure both the BitLicense and Money Transmitter License, among the most rigorous frameworks in the ...

KKR’s non-traded business development company KKR FS Income Trust, a type of private credit fund for retail investors, curbed redemptions after receiving an increase in such requests, according to a shareholder letter https://t.co/apSBmwAANh ...

Summary of China Best Business Models Version 2 Conference Call Industry Overview - The conference focuses on the **China Equity Strategy**, specifically the launch of **China Best Business Models Version 2** by Morgan Stanley, which identifies 26 companies in China with sustainable competitive advantages [1][2]. Core Insights and Arguments - **Identification of Best Business Models**: The framework aims to identify publicly listed Chinese companies with superior return on equity (ROE) and valuation premiums, which are expected to generate sustainable medium-term alpha despite market volatility [3]. - **Performance Metrics**: The identified stocks offer an ROE that is **1.5 times higher** than the benchmark, with a back-tested **3-year Sharpe Ratio of 1.2** [1][8]. - **Portfolio Construction**: The portfolio consists of **26 high-quality companies** across **16 industry groups**, designed to deliver superior risk-adjusted returns and profitability [5][40]. - **Historical Performance**: The portfolio has demonstrated a **101% total return since 2023**, outperforming the MSCI China index by **83%** over the same period [8][33]. Methodology Enhancements - **AI Adaptability**: The framework incorporates AI exposure as a key stock selection criterion, focusing on companies that are AI enablers or adopters while avoiding those at risk from AI disruption [4]. - **Global Thematic Alignment**: The portfolio aligns with four global themes: **AI & Tech Diffusion, Future of Energy, Multipolar World, and Societal Shifts** [4]. - **Sector Allocation**: A proactive approach to sector allocation emphasizes long-term growth trajectories and policy support, resulting in a higher representation of **Materials, Industrials, and Information Technology** compared to the MSCI China index [4]. Key Statistics - **Portfolio Composition**: The portfolio includes a **19% weight** in Information Technology, **19% in Industrials**, and **12% in Materials** [8]. - **Valuation Metrics**: The portfolio exhibits a forward P/E of **14.4x** and a price-to-book ratio of **2.5x**, indicating attractive valuation metrics [8]. - **Market Capitalization**: The median market capitalization of the companies in the portfolio is **US$26 billion**, with a range from **US$587 billion** (Tencent Holdings Ltd.) to **US$4 billion** (Insilico Medicine) [40]. Additional Insights - **Analyst Ratings**: Of the 26 companies, **24 are rated Overweight** and **2 are rated Equal-weight** relative to their industry coverage, indicating strong analyst confidence in these selections [40]. - **Upside Potential**: On average, there is a **37.9% upside** to Morgan Stanley analysts' price targets, with a median upside of **36.7%** [40]. - **Risk-Adjusted Returns**: The portfolio is designed to generate sustainable earnings growth with resilience across market cycles, supported by superior risk-adjusted returns [8]. This summary encapsulates the key points from the conference call regarding the China Best Business Models Version 2, highlighting the strategic focus on quality, profitability, and valuation metrics in the context of the evolving Chinese equity market.