The John Lothian Daily Update is a podcast turning the daily JLN hits and takes comments, our original content and the stories and quips in the top box of First Read into a daily podcast.
Hits & Takes
The women of WILD are holding an online auction and spooky trivia event to support their “Next Generation Women in Finance Scholarship FUNraiser.” The auction started on October 16 and culminates the night of the spooky tribal night, on October 28. The group notes 100% of the proceeds go to the Next Generation Women in Finance Scholarship. The trivia teams will be randomly formed. The auction URL is HERE. Trivia night, where costumes are recommended, will be held from 6 p.m. to 7 p.m. CT on October 28.
The Hedge Fund Association is holding a webinar on the LIBOR transition on Thursday, November 5 at 12:00 p.m. to 1:00 p.m. ET. The speakers will address questions including: What project approaches are others adopting? Where are exposures being identified and which products are being used to replace LIBOR? What are the pain points others are seeing? And how is everyone reviewing the mountains of legal contracts they need to get through?? Register for the webinar HERE.
The Federation of Euro-Asian Stock Exchanges, in cooperation with the CCP12, a global association of CCPs, organized a special workshop for FEAS Members and FEAS Friends, on October 20, 2020. The workshop looked at “How to Start a CCP Business.”
Drawbridge Lending Digital is holding a webinar on October 28 at 1 p.m. CT with an outstanding group of speakers to talk about CFTC Guidance for FCMs holding client virtual currencies. The webinar will be led by DBL’s Matt Lisle, the chair of the Global Digital Asset & Cryptocurrency Association (Global DCA). Featured speakers are U.S. CFTC Commissioner Brian Quintenz; Galaxy Digital President Chris Ferraro; Bakkt Head of Institutional Markets Laura Edelman; Phillip Capital VP David Klotz; and ED&F Man Capital Chief Risk Officer Stephen Hood. You can register HERE.
FT Partners Research announced the publication of their 115-page Q3 2020 FinTech Insights, which provides a comprehensive review of global FinTech deal activity with analysis across private company financings, IPOs and M&A statistics.
Thank you to Monica Mulvihill of Marex for her donation to the JLN MarketsWiki Education GoFundMe campaign. Monica is a savvy industry veteran who also happened to be in my graduation class from Glenbrook South High School in Glenview, Illinois.. Thank you to Monica and all who have given and those who are yet to give. Support our efforts to preserve industry history by donating to our GoFundMe campaign.
We have added to the remembrances reflections page on JohnLothianNew.com. The additions come from Jeremy Grant, Ed Tilly, Jim Kharouf, Ryan T. McNally, Tom Scanlan and Kelly Brown. If you would like to share a remembrance, please email me at firstname.lastname@example.org
Over the weekend my weight loss reached 31 pounds. When I shared my dieting discipline before, Tom Ascher reached out to me to share something he likes to have for a healthy breakfast. He is a customer of a small dairy operation in Vermont called Gammelgården Creamery. They offer a yogurt competitor called skyr. I liked what Tom sent me so much, I ordered more for myself. You can check out Gammelgården Creamery online HERE. Thank you Tom for the recommendation!
Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL
Nasdaq is hosting a panel discussion and fireside chat on “The Economics of the 2020 Election” on Thursday, October 29, from 11:30 a.m. to 1:20 p.m. ET. The panel, hosted by CNBC’s Guy Adami, will include Jim O’Sullivan, chief U.S. macro strategist at TD Securities, and Phil Mackintosh, chief economist at Nasdaq. A fireside chat with Nasdaq CEO and President Adena Friedman is at 12:40 p.m. ET. You can register HERE.~SC
Covid-19 herd immunity theory dealt blow by UK research; Testing of more than 350,000 people shows that antibodies fade within few months
Anna Gross – FT
The proportion of people in Britain with antibodies that protect against Covid-19 declined over the summer, according to research that adds to evidence that natural immunity can wane in a matter of months. The number of people with antibodies fell by a quarter, from 6 percent of the population in June to 4.4 per cent in September, according to a study of hundreds of thousands of people, one of the largest of its kind to date.
*****So much for that theory.~JJL
Loeffler and Sprecher’s $31 million year; Senator outspends all 20 opponents combined
Patricia Murphy, The Atlanta Journal-Constitution
When Kelly Loeffler was appointed to the U.S. Senate in December of 2019, the wealthy financial services executive made it known she was prepared to spend at least $20 million of her own money to win election in 2020.
*****Sen. Loeffler said she was going to spend $20 million of her own money, she (with her husband ICE CEO Jeff Sprecher) has loaned $23 million to the campaign and given another $8.5 to strategic allies.~JJL
Investor Bill Gross accused of blaring ‘Gilligan’s Island’ song on loop to torment neighbor
Laurence Darmiento – LA Times
A dispute between bond king Bill Gross and his next-door neighbor over a $1-million outdoor sculpture has devolved into police calls to their Laguna Beach mansions, multiple legal actions — and allegations that the billionaire investor blared the “Gilligan’s Island” theme song on a loop at all hours to annoy his neighbor.
*****Not the music I would choose to annoy a neighbor. That is what “It’s a Small World” is for.~JJL
What’s been driving US equities? insights from FTSE Russell, CME Group & iShares
FTSE Russell recently hosted market, derivatives and ETF experts from FTSE Russell, CME Group and iShares in a special webinar focused on US equity market outperformance in 2020 and the drivers behind the underlying differences in performance between US small- and large-cap stocks. In the webinar for clients and the news media, moderated by FTSE Russell director of product management Catherine Yoshimoto, the group shared perspective on the key drivers behind 2020 performance for the Russell 1000 and Russell 2000 Indexes, investor use of US equity index-based ETF and derivative tools to address opportunities and manage downside risk.
*****Here is a recap of the FTSE Russell panel from last week.~JJL
Pandemic Fatigue Is Real—And It’s Spreading; Collective exhaustion with coronavirus restrictions has emerged as a formidable adversary for governments
Stacy Meichtry, Joanna Sugden and Andrew Barnett – WSJ
From the corridors of Washington to the cobblestones of Paris, the coronavirus is roaring back and authorities are ramping up restrictions again. This time around, however, everyone is tired. Hospital staff world-wide are demoralized after seven months of virus-fighting triage. The wartime rhetoric that world leaders initially used to rally support is gone. Family members who willingly sealed themselves off during spring lockdowns are suddenly finding it hard to resist the urge to reunite.
******Take a deep breath. Find a way to find the energy to keep on keeping on.~JJL
Monday’s Top Three
Our most-read story yesterday was people sharing their memories of Peter Wind. He will be missed. You can read them at John Lothian News Peter Wind Remembrances and if you have any memories of your own to share please email email@example.com and we will add them there. Second was Crain’s Chicago Business Regional resiliency discussing what Chicago, as a city, needs to do to thrive after the pandemic. Our third most-read story was the sad news from John Lothian News, Peter Wind, Longtime Industry Colleague and Mentor, Passes Away