Patrick Boyle On Finance – Details, episodes & analysis

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The British government is closing in on a bailout of the Chinese owned British Steel in which taxpayers would inject £600 million pounds into the group.

British Steel is one of only two manufacturers of “virgin steel” in the UK alongside Tata Steel at Port Talbot in Wales which some industry experts claim is strategically important. Tata is in more advanced talks of its own with the government over a similar bailout.

The British government wants the steel mills to switch from using blast furnaces to more environmentally friendly electric arc furnaces at a cost of £1.25 billion to help achieve Britain's net zero goals.

Unions warn that even if the deal is approved, 2,300 jobs would be lost, because EAF is far less labor-intensive than traditional production methods.

Patrick's Books
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

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Useful Links
Ed Conway Blog:
https://edconway.substack.com/p/does-it-really-matter-if-we-cant
Material World by Ed Conway: https://amzn.to/3z3LORc

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In recent years, a number of companies have been caught claiming to use artificial intelligence while in reality, outsourcing this work to humans. The SEC recently settled with two funds who were misleading investors about their use of the technology. While artificial intelligence has been widely used in industry for decades, not all companies have been truthful with their claims of AI breakthroughs.
In today's video we discuss to what extent have big firms been faking AI?

Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://buymeacoffee.com/patrickboyle

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle
Patrick Boyle on YouTube

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Every year, people around the world lose millions of dollars to a sophisticated scam known as “the pig butchering romance scam”.
 
The scam takes its name from the victims, who the scammers call “pigs” that they "fatten up" before slaughter.  It usually begins with a text message that appears to be a wrong number. People who respond are lured into a long conversation with a good-looking and wealthy stranger who eventually offers to teach them how to make money with crypto investments. The investments are (of course) fake, and once victims send enough of their money, the scammers disappear. Victims frequently lose their life savings, and often the crime goes unreported because the victim is so embarrassed by what happened. A Kansas banker embezzled almost $50 million dollars from his bank as part of a pig-butchering scam, leading to the bank's failure.

In the bestselling book - Number Go Up by Zeke Faux, it was revealed that the people sending the messages are frequently victims themselves.  In today's video we explore how the scam works and why cryptocurrencies like tether are to blame for the huge scale of this crime.

Patrick's Books:
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance
Buy Me a Coffee: https://buymeacoffee.com/patrickboyle

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle
Patrick Boyle on YouTube

Zeke Faux - Number Go Up: https://amzn.to/3XJV7Q1
BBC Pig Butchering Documentary: https://www.youtube.com/watch?v=bW4wYV0V-5s
Griffin & Mei Paper: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4742235#:~:text=The%20perpetrators%20interact%20freely%20with,Binance%2C%20Huobi%2C%20and%20OKX.

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The new chief executive of FTX, an insolvency professional who oversaw the liquidation of Enron, has said that the bankruptcy of the crypto group is the worst case of corporate failure he has seen in more than 40 years.

John Ray III, who was appointed to run the FTX bankruptcy, said in a US court filing that he had never seen “such a complete failure of corporate controls and such a complete absence of trustworthy financial information”.

Patrick's Books:
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patrick Boyle YouTube Channel

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FTX, the cryptocurrency exchange recently valued at $32 billion dollars, has filed for bankruptcy protection in the US.

The filing in Delaware federal court on Friday included the main FTX international exchange, FTX US a US crypto marketplace, Sam Bankman-Fried’s proprietary trading group Alameda Research and about 130 affiliated companies.

In today's video we discuss what went wrong at FTX, and discuss the influencers who pitched FTX to their audiences.

Patrick's Books:
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patrick Boyle YouTube Channel

Investment Insights You've Never Heard

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The term robber baron is frequently used to describe men like Cornelius Vanderbilt, John D. Rockefeller and Andrew Carnegie, along with other powerful 19th-century American industrialists. These men came from nowhere and made fortunes building out Americas industrial infrastructure.  In their pursuit of wealth, they put railroads in place, provided energy to American homes and manufactured the steel that built American cities.  Many of the 19th Century American industrialists ended up giving away the majority of their fortunes in great acts of philanthropy.  Is it right to call them Robber Barons?

Patrick's Books:
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patrick Boyle YouTube Channel

Investment Insights You've Never Heard

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China’s crackdown on property developers and its “Zero Covid" policy are harming its economy and the economies of countries selling raw materials to China. But there is an upside to Xi's actions, these policies are reducing inflationary pressures in the rest of the world. 

Patrick's Books:
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patrick Boyle YouTube Channel

Support the show

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Russian oligarchs have kept their money in London for twenty years, encouraged by British bankers' lawyers and politicians. Critics say that the 'London laundromat' cleans dirty money from kleptocrats all over the world. This video looks at where dirty money comes from, how money laundering works why it took Russia's invasion of Ukraine to put this issue in the spotlight. 

From One Hyde Park to Bishops Avenue. Where is oligarch money kept in London?

Patrick's Books:
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patrick Boyle YouTube Channel

Investment Insights You've Never Heard

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The United States has introduced new export controls to restrict Chinese companies access to the most advanced computer chips which can be used to develop cutting-edge technologies with military applications.

The commerce department announced these restrictions last week which will make it extremely difficult for Chinese companies to obtain or manufacture advanced computer chips and will slow their progress in artificial intelligence.

The measures are also designed to make it much tougher for China to develop supercomputers with military applications that range from modelling nuclear weapons to developing hypersonic weapons.

These restrictions come days before the Chinese Communist party holds its 20th national congress at which President Xi Jinping is expected to seal a third term as leader.

Book Suggestion:  Chip War by Chris Miller https://amzn.to/3yA3Xmg

Patrick's Books:
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patrick Boyle YouTube Channel

Investment Insights You've Never Heard

Listen on: Apple Podcasts   Spotify

Support the show

Send us a text

The Bank of England had to step in to calm markets after the British government's economic plan sparked a fall in the pound and caused borrowing costs to surge.

The Bank warned that if the market volatility continued there would be a "material risk to UK financial stability."

Patrick's Books:
Statistics For The Trading Floor:  https://amzn.to/3eerLA0
Derivatives For The Trading Floor:  https://amzn.to/3cjsyPF
Corporate Finance:  https://amzn.to/3fn3rvC

Patreon Page: https://www.patreon.com/PatrickBoyleOnFinance

Visit our website: www.onfinance.org
Follow Patrick on Twitter Here: https://twitter.com/PatrickEBoyle

Patrick Boyle YouTube Channel

Support the show