• Investing

    Square and PayPal emerge as whales in the crypto market

    The PayPal application can be seen on a mobile phone. Felix Kästle | picture alliance | Getty Images Fintech companies are helping fuel demand for bitcoin as they open the floodgates for millions of people to trade it. By one firm’s analysis, PayPal and Square clients have been buying the majority of the new bitcoin supply entering the market each day. Hedge Fund Pantera Capital estimates that Square clients have accounted for 40{a87f602f9b65d268d2531d6307ed39cfde24e475374069973d0be7fc923da513} of bitcoin that enters the market in the two years since the product launched. PayPal may be responsible for even more demand since launching just a few weeks ago. The payment company partnered with crypto firm Paxos…

    Comments Off on Square and PayPal emerge as whales in the crypto market
  • Investing

    Top analysts say buy stocks like Amazon & Yelp

    Jin Lee | Bloomberg | Getty Images Out on Wall Street, stocks are taking a breather from this month’s rally. Despite encouraging updates on a potential coronavirus vaccine, disappointing unemployment data and a spike in coronavirus cases have spooked investors. Not helping investor sentiment, New York City Mayor Bill de Blasio announced that schools would return to remote learning to mitigate the virus’ spread. “The market has really been in a celebratory mode since Election Day and rode through it again last week. I think the idea now is people are beginning to consider taking some profits ahead of expectations that taxes related to capital gains could rise in 2021.…

    Comments Off on Top analysts say buy stocks like Amazon & Yelp
  • Investing

    Former Chewy CEO Ryan Cohen urges GameStop to become the Amazon of video games

    Game Stop store in New York City. Michael Brochstein | LightRocket | Getty Images The shift away from brick-and-mortar retailers in favor of online shopping has hurt GameStop over the past decade, pushing the company’s stock down nearly 40{a87f602f9b65d268d2531d6307ed39cfde24e475374069973d0be7fc923da513} in that time period. But Ryan Cohen, the former CEO of Chewy, thinks the maligned video-fame retailer can turn itself around by shifting its focus away from physical stores in favor of a building robust e-commerce platform. Cohen thinks GameStop can use its brand and large customer base to make that transition. He has taken a large stake in the company to try and push it in that direction. Company: GameStop…

    Comments Off on Former Chewy CEO Ryan Cohen urges GameStop to become the Amazon of video games
  • Investing

    Most day traders lose money

    Day traders have terrible track records.  Academics who study stock pickers have long observed that the vast majority of professional money managers – about 85{a87f602f9b65d268d2531d6307ed39cfde24e475374069973d0be7fc923da513} – underperform their benchmarks over a multiyear period. Now those professionals are turning their sights on retail day traders, warning that the same poor results apply to them as well.  “I don’t confuse day traders with serious investors,” Princeton professor Burton Malkiel, author of “A Random Walk Down Wall Street,” wrote in a blog for Wealthfront, where he is chief investment officer.  “Serious investing involves broad diversification, rebalancing, active tax management, avoiding market timing, staying the course, and the use of investment instruments such as…

    Comments Off on Most day traders lose money