According to Barron's, Jeffrey Epstein had a bigger problem than running a child sex trafficking ring: He just wasn't that good of an investor. Based on data from court filings, the so-called billionaire was really "only" worth a few hundred million. And, worst of all, his fund trailed the market.
 | |  Good morning. According to Barron's, Jeffrey Epstein had a bigger problem than running a child sex trafficking ring: He just wasn't that good of an investor. Based on data from court filings, the so-called billionaire was really "only" worth a few hundred million. And, worst of all, his fund trailed the market.
It's almost as though someone with dirt on dozens of high-society types was more interested in collecting regular blackmail payments than maximizing his market returns—and what better way to avoid being caught in a blackmail scheme then to claim the money was a fund management fee? While we don't need to see the sector regulated to death, a better way of ensuring private funds are being used for legitimate investment purposes rather than blackmail payments would seem to be in order. | | | | | | | | |  | DOW 27,222.97 | +0.01% | | | | S&P 2,995.11 | +0.36% | | | | NASDAQ 8,207.24 | +0.27% | | | | | *As of market close | | | • | Stocks traded slightly higher on Thursday, shrugging off earlier earnings-related drops. | | | | • | Oil continued its slide, but came off its lows on news that the United States shot down an Iranian drone. Gold and cryptocurrencies rallied. | | | |
| | | Netflix Shares Drop Over 10 Percent as Subscriber Count Misses | | 
| | Media giant misses on key metric for investors. | | On Wednesday after the close, Netflix (NFLX) reported solid earnings. Revenue grew by 26 percent to $4.92 billion. The company's operating margin rose 250 basis points to 14.3 percent.
However, the company only grew subscribers by 2.7 million. With an expectation of 5 million, the market saw slower subscriber rates as a potential danger for the company's performance going forward, and shares dropped over 10 percent as a result.
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| | Philadelphia Fed Survey Jumps to Highest in a Decade | |  | | Major surge in manufacturing outlook. | | On Thursday, the latest regional survey from the Philadelphia Federal Reserve Bank, revealed a rise of 5.0 points to 21.8, a massive shift from the 0.3 read June. This is the biggest month-over-month jump since June 2009, as the economy was hitting the bottom of the Great Recession.
Nearly just about every read on the survey showed a gain, including the highest rate of manufacturing employment for the history of the survey.
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| | Insider Activity: Unit Corp (UNT) | |  | | Director adds to stake of energy exploration company. | | On Wednesday, director Bailey Peyton picked up another 3,000 shares of Unit Corp (UNT), where he serves as a director. The stake cost $21,900 and increased his shares take to 74,652, an increase of 4.2 percent.
This follows on buys made back in May by Peyton, as well as two other directors, at prices ranging from 28 to 38 percent higher than today.
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| | | | Unusual Options Activity: Cloudera, Inc (CLDR) |  | | Bet on shares heading higher. | | Shares of Cloudera (CLDR) may be heading higher between now and February, based on a surge of the $5 call options there.
On Thursday, over 8,200 of the calls traded against a prior open interest of 123—a 67-fold surge in volume. With shares trading at $5.50, the options are also about 10 percent in-the-money, meaning they should move penny-for-penny, less the decline in the time premium.
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| | | | TOP | | | PM | 8.217% | | | | KLAC | 6.311% | | | | UNP | 5.895% | | | | ADS | 4.816% | | | | IBM | 4.585% | | | | BOTTOM | | | NFLX | 10.272% | | | | URI | 7.894% | | | | GPC | 4.51% | | | | MTB | 4.506% | | | | APA | 3.799% | | | | |
| | |  | | Given the tone of the central banks… it somehow feels like there is a known unknown out there that clearly has them spooked. While whatever it is may be under-appreciated in the market, it isn't lost on them. It sure isn't fear of earnings season. Or a sudden realization that inflation, as they choose to measure it, has failed to rise to the level of their mandates | - –Former fund manager Richard Breslow on growing uncertainty for traders  | |
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