Big banks invest in BioCatch
Barclays, Citi, HSBC and National Australia Bank have invested $20 million in Israeli behavioral biometrics company BioCatch, topping up a Series C funding round.
Uri Rivner on RSAC TV
Head of Cyber Strategy, Uri Rivner, spoke to RSAC TV about BioCatch and his talk at the conference.
Meet The 10 Billion Dollar Banker | Chris Naghibi
On today’s podcast I had Chris Naghibi on. Chris is a man of many different talents. He has a real estate portfolio of over $50 million! He’s also a lawyer who does pro bono work. The biggest thing he’s doing currently is being apart of a bank doing over $10 billion worth of investments last year! He helped start it, made it public, and is continuing to help grow that business. In this podcast, we talked about a lot of different things going on in the economy, especially as it relates to banks. As a guy who has had mixed feelings about banks over the years, I got to ask him what exactly goes on behind the scenes with banks, why they have a negative stigma, what happens when I deposit money, how to they make loans, and where they get their money. It was really interesting to listen to! Along with that, I get his perspective on going public. He ended up taking his bank public about 7 years ago, and he provided me with good insight as I could potentially take a company public one day. He also goes over the do’s and don’ts, and why it may not make sense for most people to go public. Towards the end of the podcast is my favorite part. We starting getting into some conspiracy theory! There are some interesting things happening in the economy…We’ve got a war going on, a lot of money printing, and we discuss if interest rates will go up and really what’s happening in the media. I think you should watch all the way to the end and see why it’s one of my favorite episodes we’ve done!
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Instagram – @chrisnaghibi
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Chris was not the greatest student but his parents were very aggressive about his education. Chris used basketball as an outlet and actually wanted to pursue it as his career. He knew that his basketball wouldn’t bring his as much monetary success as other paths would do, so he pursued business instead.
Chris went to law school, but didn’t enjoy it. He was working in real estate already and loved that. Eventually, he had an opportunity to help start a bank. He started at a low position but has risen to Executive Vice President Chief Credit Officer!
He took and passed the bar exam in order to open up his own law firm that focuses mostly on pro bono work.
Chris and I talk about NFT’s, crypto, and how banks, real estate, and other entities should be adapting. We also dive deep into conspiracy theories regarding the media and media censorship as well as other conspiracies regarding to current events regarding the economy.
Banking, banking behind the scenes, how crypto will affect banks, how crypto will affect the economy, real estate investing for beginners, how to start real estate investing, how a company goes public, should my company go public
What investors should know ahead of Big Banks earnings
Jason Goldberg of Barclays and Charlie Bobrinskoy of Ariel Investments join CNBC’s \”Closing Bell\” team to discuss markets ahead of big bank earnings.
Big U.S. banks J.P. Morgan Chase, Bank of America and Citigroup will benefit from a rebound in trading revenue in the fourth quarter, but that might matter less than what executives say about this year’s guidance.
Last month, executives at the three banks all cited increased trading results in the final three months of 2019. J.P. Morgan CFO Jennifer Piepszak said trading would be “meaningfully” higher versus a year ago, while Citigroup CFO Make Mason said it would rise by a percentage “in the high teens.” Bank of America CEO Brian Moynihan said markets revenue would be 7% to 8% higher than a year earlier.
The rebound comes from banks’ fixed-income trading operations, projected to rise 25% on average, versus a 3% bump in stock trading revenue, KBW analyst Brian Kleinhanzl wrote last month.
J.P. Morgan, Citi and Wells Fargo will release results Tuesday morning, while Goldman Sachs and Bank of America will post on Wednesday, and Morgan Stanley on Thursday.
Bank stocks finished 2019 on a tear, outpacing the broader stock market in the fourth quarter as investors rushed into an under-owned sector. The biggest U.S. banks climbed more than 30% on average last year, exceeding the gain of the Standard & Poor’s 500.
But banks may face pressure this year as interest rates stay low or are even slashed further. The Federal Reserve cut its benchmark rates for the third time in October, and that pressures net interest income, or the revenue that banks garner from collecting loan payments, minus the interest it pays to depositors.
So it makes sense that analysts and investors are keen to hear management give guidance for 2020, particularly on net interest income and the impact of rates, as well as about expenses and loan growth.
“We expect the 2020 outlooks to garner more attention than actual results,” Barclays analyst Jason Goldberg said in a research note this week.
In fact, new guidance is expected from Goldman Sachs as it nears its first-ever investor day this month and CEO David Solomon explains the results of his year-long internal review. And new Wells Fargo CEO Charles Scharf will address analysts for his first earnings report and may speak about the strategic review he has undertaken.
With that looming over lenders, analysts have been busy cutting their recommendations on big banks whose shares have outperformed last year, including J.P. Morgan, Bank of America and Citigroup. Several analysts upgraded Goldman Sachs on its reasonable valuation, the potential settlement of its 1MDB scandal with the U.S. government and its growth initiatives.
The fourth quarter is typically when banks announce unexpected charges or expenses, Goldberg noted. Banks may also begin grappling with a new accounting rule called credit loss accounting that may result in one-time hits to reserves.
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