Finance. Here s a rundown of the must-know stories from the past week:
Lee Ainslie tells investors Maverick Capital is poised to take advantage of the post-GameStop-frenzy
How
The inside track on the next big innovations in IPOs and direct listings
Read our roundup of Wall Street power moves
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Generation Robinhood: How the trading app conditioned inexperienced users to obsessively play the market
The app aims to make trading easy and fun for a simple reason: The more users trade, the more money Robinhood makes. The startup s business model, in fact, is based in large part on what is known as payment for order flow (PFOF) - taking the buy and sell orders that users place and selling them directly to large trading firms.
Get the full rundown on Seth Turkeltaub s new fund. See more here. Tapestry
A former Goldman partner has accused IT billionaire Thai Lee of manipulating his biotech stock that was collateral for a $38 million loan. She denied it. Read more here. Robert Cortright, DriveWealth CEO DriveWealth
The CEO of a fintech that has played a key role in the rise of retail trading spoke about how the spike in trading last week, and the troubles that came from it, was a long time coming. Read more here. Klarna markets itself as a smoooth shopping experience. Thomas Concordia/Getty Images
Buy now, pay later companies are getting the attention of regulators due to concerns over young people falling into debt. Read more here.
Morgan Stanley s killer year - Buy now, pay later explosion - Ex-Goldman banker cheated by billionaire
Dan DeFrancescoFeb 3, 2021, 16:48 IST
Tourists pose for a photo with the Charging Bull during a morning snow in New York s financial district near Wall Street February 13, 2014.REUTERS/Brendan McDermid
Good morning and welcome to Insider
Finance. I m Dan DeFrancesco, and here s what s on the agenda today:
Morgan Stanley CFO Jon Pruzan shares some thoughts on how the bank has positioned itself for big growth.
Jide Zeitlin, a former Goldman partner, said he was cheated by an IT billionaire who lent him $38 million.
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Morgan Stanley global CEO James Gorman, at West Kowloon, Hong Kong. 13NOV17 SCMP / David Wong (Photo by David Wong/South China Morning Post via Getty Images)David Wong/South China Morning Post via Getty Images
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Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Israel Englander, Chairman and CEO, Millennium Partners Phil McCarten/Reuters This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
Seth Turkeltaub is the latest portfolio manager from Izzy Englander s Millennium to start his own fund.
Turkeltaub s new fund is called Concentric Capital Strategies, he confirmed to Insider.
He joins a list of dozens of other former Millennium investors who have started their own funds.
Seth Turkeltaub has left Millennium after more than a decade managing money for Izzy Englander to start his own fund.