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 NFA is holding a Town Hall Webinar on Tuesday, April 20, at 9:30 a.m. CT. NFA Board Chairwoman Maureen Downs, NFA Public Directors Ron Filler and Doug Harris, President and CEO Thomas Sexton and NFA’s officers will provide a short update on NFA’s recent initiatives and respond to questions submitted by members.
Intercontinental Exchange, Inc., announced that its new Murban Crude Oil futures contract traded 14,419 contracts on April 7 and a total of 38,712 traded on ICE Futures Abu Dhabi since its launch.
The University of Chicago is putting $20 million behind quantum startups, in the school’s latest move to become a top player in a hot new technology, Crain’s Chicago Business reports.
The New York Times has a story titled Investing Made Simple for Beginners and Everyone Else; Managing your money for the long run can be easier than you might imagine. Yes, you read it here, investing can be simple. The easy answer is to give your money to a robot, one with a good track record.
It turns out one of the hobbies people have taken up during the pandemic is making maple syrup. The New York Times has this sweet story.
One of the things my church, St. Peter’s United Church of Christ in Elmhurst, Illinois, did during Lent was to encourage members to do random acts of kindness. This could be buying the person in line behind you their coffee or dropping off cookies at the local fire station. A good example of a random act of kindness was in the news yesterday featuring Shaquille O’Neal, or Shaq for short. He paid off a random guy’s engagement ring in a jewelry store he was visiting. Shaq is known for doing all kinds of random acts of kindness like this. Shaq is an accomplished businessman who has parlayed his millions from playing basketball into a nice portfolio of investments, including in the Papa John’s pizza company. Nice work Shaq!
In South Korea, there is a highway with solar panels in the middle that has a bicycle path underneath – cyclists are protected from the sun, isolated from traffic, and the country can produce clean energy. H/t @ValaAfshar
We had three new donations to the JLN MarketsWiki Education GoFundMe campaign: Brian Rice of ever.ag, Drew Mauck, formerly of Strategics, and Ernesto Pinto of Trading Technologies. Brian is a longtime JLN reader and industry broker specializing in risk management for the dairy and grain sector and beyond. ever.ag also offers insurance and technology solutions to market those sectors. Drew Mauck is a longtime JLN reader and friend who launched his own public relations firm, 3Points Communications. 3PTS is a PR firm for TT and many other firms in the markets space. Ernesto Pinto is the São Paulo, Brazil country manager for TT. Thank you to Brian, Drew and Ernesto and all who have given and all who have yet to give. Thank you also to TT for matching these donations. Support our efforts to preserve industry history by giving to our GoFundMe campaign and have TT match your donation.
Have a great day and stay safe and treat people the same way you want to be treated: with respect, equality and justice.~JJL
CFTC Commissioner Dan Berkovitz published his take on cryptocurrency futures exchange ErisX‘s NFL gambling contracts proposal yesterday, seemingly in an effort to warn ErisX off a substantially similar resubmission of the contract. In addition to saying that the exchange had not sufficiently demonstrated the economic purpose of the contracts, Berkovitz took issue with ErisX’s proposed limitation to selected participants who are ECPs (eligible contract participants): “It would be anticompetitive to allow bookmakers to trade these contracts on the exchange so they can sell them to the public at casinos, racetracks, and other betting establishments, while at the same time prohibiting the public from obtaining those contracts through open, transparent, competitive trading on the exchange.” ErisX certified the contracts on December 15 of last year and withdrew its proposal shortly before the CFTC was expected to act on it two weeks ago. ~Thom Thompson
Going global: Exchange Analytics, a U.S. provider of regulatory compliance training and support services founded by Larry Israel and led by former OCC chief compliance officer Joseph Adamczyk, on Wednesday announced a strategic partnership with Ekur Advisors, a Geneva-based advisory firm that also specializes in governance, risk and compliance. More details are here.~SC
Exchange Analytics and Ekur Advisors Announce Strategic Partnership
Exchange Analytics, a leading provider of regulatory compliance training and support services, today announced a strategic partnership with Ekur Advisors, a Geneva-based boutique advisory firm specializing in governance, risk and compliance, serving clients across the globe. Joe Adamczyk, President of Exchange Analytics, said, “I have known Brian Lewis for nearly 15 years, and his new advisory practice with Phillip Goodswen will be an excellent complement to our current product offering. This partnership will allow for cross marketing of each other’s services.
***** EA is a company on the move.~JJL
After Working at Google, I’ll Never Let Myself Love a Job Again; I learned the hard way that no publicly traded company is a family.
Emi Nietfeld – NY Times
I used to be a Google engineer. That often feels like the defining fact about my life. When I joined the company after college in 2015, it was at the start of a multiyear reign atop Forbes’s list of best workplaces. I bought into the Google dream completely. In high school, I spent time homeless and in foster care, and was often ostracized for being nerdy. I longed for the prestige of a blue-chip job, the security it would bring and a collegial environment where I would work alongside people as driven as I was.
*****You can have a bad boss anywhere, but when you have drunk the Google Kool-Aid it makes it that much more difficult and painful. This is a good story about sexual harassment and the way it can influence a woman’s career. We need to do better.~JJL
Investing Made Simple for Beginners and Everyone Else; Managing your money for the long run can be easier than you might imagine.
Paul B. Brown – NY Times
“I know you may not believe me, but managing your money can be simple.” That’s the way I began the conversation I had with each of my children when they got their first real jobs and had questions about retirement plans and how they were going to prepare for their financial futures. Boiled down, it amounted to this:
******It is as easy as 1, 2, 4.~JJL
Wednesday’s Top Three
The most widely read story on Wednesday was from the Financial Times, How Ken Griffin rebuilt Citadel’s ramparts. The second most read story was from Bloomberg Opinion, The Pandemic Isn’t Over, But We’re Over It. And third was an Associated Press story via Yahoo News, Nearly half of new US virus infections are in just 5 states.