Formulation E keep away from F1-style controversy which noticed Lewis Hamilton lose title after race is ended behind security automotive

FORMULA E avoided an F1-style controversy in the Middle East after the Round 2 race in Saudi Arabia was ended behind the safety car.

Unlike bungling F1 race director Michael Masi, who fudged the outcome of the Abu Dhabi GP, his opposite number at the all-electric series, Scot Elkins, stuck to the rules as the race ended under yellow flags.


Formula E driver Edoardo Mortara almost fell victim to same fate that befell Lewis Hamilton in the Abu Dhabi Grand PrixCredit: GREGORY LENORMAND / Every Second Media / DPPI
But Mortara won round two of the Saudi race as officials stuck to protocol


But Mortara won round two of the Saudi race as officials stuck to protocolCredit: GERMAIN HAZARD / Every Second Media / DPPI

Swiss racer Edoardo Mortara held on to win his third ePrix for the Venturi team, whose CEO, Susie Wolff is married to Mercedes F1 boss Toto Wolff.

Mortara said: “I am glad to bring the win to the team and I have now won three races.

“This was a strategic race. It was difficult for the nerves because I didn’t have much battery energy.

“It was the same for my colleagues around me, who tried to put me under pressure. But I tried to keep my head cool and it worked.”

The Abu Dhabi debacle – which resulted in Sir Lewis Hamilton being controversially pipped to a record-breaking eighth F1 title by Max Verstappen – is still being investigated by the FIA.

A statement on Saturday read: “At this stage, no decision has been taken on the outcome of the detailed analysis currently underground into the events of the last Formula 1 Abu Dhabi Grand Prix.

“As previously announced, the findings of this detailed analysis will be presented at the F1 Commission meeting in London on 14th February after an open discussion with all F1 drivers and then finally have to be approved at the World Motor Sport Council meeting on 18th March in Bahrain, under the authority of FIA President Mohammed Ben Sulayem.”

Hamilton, 37, has remained tight-lipped since the race and reportedly won’t decide his future until the outcome of the inquiry is known.

But Williams team boss Jost Capito recons the seven-time F1 king should make way for a younger driver.

Capito told German outlet RTL: “I don’t care about it.

“I don’t really care whether he drives or not. [It’s] totally irrelevant, really totally irrelevant.”

Lewis Hamilton has yet to decide his future since being pipped to an eighth F1 title by Max Verstappen


Lewis Hamilton has yet to decide his future since being pipped to an eighth F1 title by Max VerstappenCredit: PA

“They always say there are not enough places for young drivers and then I think, if someone has been World Champion seven times.

“He has actually done enough and could make room for a youngster, why not?”

The new F1 season, in which Dutchman Verstappen will bid to defend his controversially-claimed world title, will get commenced on March 20.


Israel, Bahrain folks lose vaccination standing with out boosters

A medic from the Israeli medical service Magen David Adom will administer the third vaccination of the Pfizer-BioNTech Covid-19 vaccine in Holon on August 24, 2021.

Ahmad Gharabli | AFP | Getty Images

Israel and Bahrain want eligible residents to get their Covid Booster vaccinations – and those who don’t risk losing their fully vaccinated status and privileges.

In Israel, vaccinated people receive a so-called “Green Pass”, which gives them access to hotels, restaurants and many other indoor locations.

People who have recovered from Covid-19 can also get a green passport under other guidelines.

On October 3rd, Israel changed the criteria for the Green Pass and shortened its validity. According to a government recommendation, the pass expires six months after receiving the second dose.

“Anyone who had a green passport and does not meet the new criteria after 3/10 will lose the green passport,” a spokesman for the Israeli Ministry of Health told CNBC.

A third shot must be administered before a new green passport can be issued, at least a week after the refresher. This pass also expires six months after the third dose.

It is unclear whether more booster vaccinations may be needed in the future to be considered fully vaccinated. The health ministry spokesman said the development of the virus situation and morbidity will determine the “continued validity of the green passport” six months after the third dose.

Protests against the new policy broke out in Israel and an estimated 2 million could lose their green pass. Associated Press reported.

Divided into boosters

Bahrain has different criteria for each of the vaccines offered. However, most people over the age of 18 are entitled to a booster dose six months after the second dose.

Data from the kingdom found that from July 1 to October 1, 52% of those infected did not take a booster dose. In comparison, 3% of confirmed cases were in people who received a third dose.

“So it is clear that booster vaccinations increase immunity.” it says in a government press release.

– CNBC’s Berkeley Lovelace Jr., Rich Mendez, Natasha Turak, and Robert Towey contributed to this report.

This story has been updated with comments from the Israel Ministry of Health that came after the article was first published.

Asante expects to lose cash throughout COVID-19 surge

MEDFORD, Oregon – Since the COVID-19 pandemic began, Asante has helped provide financial relief for COVID-19 patients. Now, with the recent surge, Asante says they expect to lose money.

“We wrote off millions of dollars that we would have asked of the patient in the past,” said Heather Rowenhorst, Asante’s chief financial officer.

Rowenhorst said the hospital was getting a flat rate from insurance companies that averaged about $ 14,000 per patient. After that, the hospital will write off the remaining costs. As a rule, the hospitals could cope with the flat rate. But with the recent surge that overwhelmed Asante’s hospitals, it is now putting a strain on the hospitals’ finances.

“We have come to a point where we may need to rethink this approach,” said Rowenhorst.

Asante said there have been significant increases in costs in recent months, including labor costs. Many front line medical workers are working extra shifts every day.

“That’s a million dollar premium we pay out that we haven’t had to pay in the past,” said Rowenhorst.

Asante typically budgets $ 100,000 for travel medical workers, they are now spending nearly $ 400,000.

“We have tried to complement each other with as many traveling nurses as possible, which comes at a significant cost,” said Rowenhorst.

A price, she said, was worth it just to give her regular workers a break.

“You work hard. You are dealing with families who are going through some of the worst things in their lives,” said Rowenhorst.

Asante also covers medicines for COVID-19 patients, which can range from $ 5,000 to $ 6,000 per visit. Not to mention laboratory work. Each COVID-19 test costs Asante $ 25; if they outsource the test, it’s an additional $ 65. Last week alone, they spent about $ 200,000 on COVID-19 testing alone.

“Sometimes we get a refund and sometimes we don’t. If it is an inpatient treatment, it is only summarized in this flat fee. On the outpatient side, we get reimbursement, ”said Rowenhorst.

In addition to the labor force, laboratories and pharmaceutical hospitals pay huge amounts of PPE, rollaway beds and oxygen. They also cancel elective surgeries, which actually makes money for the hospital.

“August financials are not going to look good. July financials were not good. That was before this major climb, ”said Rowenhorst.

Asante said that something has to change in our community in order for them to come out on the other end of this pandemic. She hopes more people will change their minds about the vaccine. If this continues, Asante may not be able to cover the additional COVID-19 costs.

NBC5 News reporter Katie Streit is from her hometown of Las Vegas. Katie attended the Hank Greenspun School of Journalism & Media Studies at the University of Nevada, Las Vegas.

While in Las Vegas, Katie won a Student Emmy for reporting on the Las Vegas Shooting Anniversary. She also hosted and produced the university’s political news show interviewing Nevada Governor Steve Sisolak and Congressman Dina Titus (NV-1). Her passion for politics became a coveted internship at the US Capitol in Washington DC. In her final months in the Las Vegas area, she was recognized by the Nevada Broadcaster’s Foundation for her journalistic achievements.

Katie looks forward to telling the stories of local Southern Oregonians and Northern Californians. Please contact them at [email protected]

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‘We Do not Wish to Lose Cash’ – Pep Guardiola Delivers Robust Response to Man Metropolis Spending Critics

The Premier League champions expect a sensational fall for Tottenham striker Harry Kane after securing the arrival of Aston Villa’s Jack Grealish for a club record £ 100m in early August.

Ahead of the Manchester team’s league opener against Tottenham on Sunday, the Catalan coach was asked about the Liverpool manager’s remarks on the way several top English clubs invested in their squads during the summer transfer window.

Chelsea broke their own record transfer amount by signing Inter Milan’s Romelu Lukaku for £ 97.5m, while Manchester United spent more than £ 110m to win Jadon Sancho and Raphaël Varane ahead of the new season.

CONTINUE READING: The city is “confident” to get the second £ 100 million signature this summer

CONTINUE READING: Midfielder is approaching City exit with Serie A as a target

“I don’t judge other clubs by what they do; they do what they believe. Some owners want to profit, our owners don’t,” Guardiola said in his pre-game press conference, quoted by Manchester evening news.

“You want to reinvest in the team. We invest what we can invest. We could spend £ 100m on Jack Grealish because we sold for £ 60m. In the end we spent £ 40m (net) the club said to me. I don’t know what will happen in the future. “

City’s antics in the transfer market have come under heavy scrutiny over the years, but Guardiola insisted that the Premier League champions abide by Financial Fair Play (FFP) rules.

CONTINUE READING: City fans recognize a possible important striker transfer tip during training

CONTINUE READING: Riyad Mahrez gives an honest admission of the performances in 2020/2021

The 50-year-old added, “We have limits to financial fair play. If you (the city’s transfer critics) disagree, you can file a statement in court and we will defend ourselves. Financial fair play is the rule.” for us, and we absolutely obey the rules, what happened in the end was that we were innocent in 2014, I believe, and we are now in 2021.

“Every season we (City) pass the FFP. I say the same thing, there are owners who want the advantage for themselves. Our club, of course, they don’t want to lose any money, if they can spend money we can do that.” A few years ago other clubs would always spend a lot of money for a lot on multiple players.

“We (the city) spend because we can, we don’t spend if we can’t. In the end, we have to present the balance sheet and say that is who we are, what we have and what we can do . “

Follow us on Twitter for live updates: @City_Xtra

Navy households and veterans extra prone to lose cash to scams

TUCSON (KVOA) – Service members, military spouses and veterans all reported a higher likelihood of losing money and higher average dollar losses to scammers, the company said 2020 BBB Scam Tracker Risk Report.

The report was made by the BBB Institute for Marketplace Trust (BBB Institute) the study analyzes cases of fraud reported to BBB Scam-TrackerSMhighlighting the latest consumer fraud risks. Veterans reported an average loss of $ 133, military spouses reported an average loss of $ 132, and active duty members reported an average loss of $ 269 – all higher than the average loss of $ 115 incurred for all consumers in 2020 was reported.

“Historically, we have reported higher mean casualties from the military community,” said Melissa Trumpower, executive director of the BBB Institute. “However, 2020 was the first year we also saw higher rates of military consumers losing money to scammers.”

The probability of loss for all consumers in 2020 was 46.4%. Veterans stated a slightly higher probability of loss of 46.8%. Military families gave the highest probability of loss with 50.8% for military spouses and 59.7% for military members.

“The biggest factor that contributed to these higher loss probabilities across the board was the increase in Online purchase fraud and online scams in general, ”says Trumpower. “When you consider that in 2020 most people made more online purchases than normal, this was an expected change, but one that is alarming. In a BBB survey of over 5,000 people who reported scams to BBB Scam TrackerSM in 2020, 43.1% said they spent more time online because of the pandemic, and 57.1% said they were because of the pandemic Having made more online purchases.

Online purchase fraud has been the riskiest type of scam for service members and veterans, with the riskiest type of items purchased online Pets and pet supplies. Riskiest military spouse scam in 2020 was Employment fraud. This included flexible ways to work from home that were found online and that were often involved counterfeit check or Returns fraud.

“We continue to work with our partners to fight fraud targeting the military and share prevention messages through BBBs serving communities across North America,” Trumpower said.


To learn more about BBB’s Military and Veterans Initiative, visit

In hotter climates, male dragonflies lose their trademark type

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Male dragonflies lose their wing pigmentation in hotter climates, researchers report.

Less pigmentation will keep them cool, but could make it difficult to find a partner, according to their new study.

“Our study shows that male dragonfly wing pigmentation evolves so consistently in response to climate that it is among the most predictable evolutionary responses ever observed for a mating-related trait,” says Michael Moore, postdoc at the Living Earth Collaborative at Washington University in St. Louis.

“… male dragonflies may have to adapt to global climate change by developing less wing color.”

“This work shows that mating-related traits can be just as important for the adaptation of organisms to their climate as survival-related traits,” he says.

Many dragonflies have dark black pigment spots on theirs wing which they use to woo potential partners and intimidate rivals.

“Aside from their function in reproduction, a lot of dark pigmentation on the wings can heat dragonflies up to 2 degrees Celsius, a pretty big shift!” Moore says that would be roughly a 3.5 degrees Fahrenheit change. “While this pigmentation can help dragonflies find mates, additional heating could also cause them to overheat in places that are already hot.”

The researchers were interested in whether this additional warming could force dragonflies to develop different wing pigmentations in different climates.

For this study, the scientists created a database of 319 dragonflies species based on field guides and citizen science observations. They examined the wing ornaments shown in photographs submitted to iNaturalist and gathered information about climate variables in the locations where the dragonflies were observed. The researchers also directly measured the amount of wing pigmentation on individual dragonflies from nearly 3,000 iNaturalist observations in a focused group of 10 selected species. For dragonflies in each of these 10 species, the scientists assessed how populations differ in the warm and cool parts of their geographic distribution.

Whether comparing species with hotter and cooler geographic areas or populations of the same species living in warmer areas to cooler areas, the researchers saw the same thing: male dragonflies almost always responded to warmer temperatures with lower wing pigmentation.

Sorting the observations differently, the researchers found that male dragonflies sighted in warmer years tended to have less wing pigmentation than male dragonflies of the same species in cooler years (the database included observations recorded during the 2005-19 period ).

“Given the expected further warming of our planet, our results suggest that the male dragonflies may have to adapt to the global world at some point Climate change by developing less wing color, ”says Moore.

The study includes projections based on global warming scenarios that suggest that pigmentation on male wings will continue to shrink over the next 50 years as the Earth warms.

But the changes do not happen in the same way for both sexes.

“… the consequences are something we don’t know very much about yet.”

“In contrast to the males, female dragonflies do not show any major changes in the change in their wing color with the current climate. We don’t yet know why males and females are so different, but that shows that we shouldn’t assume that the sexes adapt to climate change in the same way, ”says Moore.

Dragonflies have different amounts of pigment on their wings that help males and females of the same species to identify each other. One of the interesting implications of this research is that females may no longer recognize males of their own species if the pigmentation of the male wings develops in response to rapid climate changes and the female pigmentation develops in response to something else.

This could result in them mating with males of the wrong species.

“Rapid changes in pairing-related traits could hinder a species’ ability to identify the right mate,” says Moore. “Although our research suggests that these pigmentation changes are likely to occur as the world warms up, we don’t yet know much about the consequences.”

The study will appear in the Proceedings of the National Academy of Sciences.

Other researchers from Washington University in St. Louis and Saint Louis University contributed to the work.

Source: Washington University in St. Louis

Girls, veteran and minority restaurant house owners lose COVID reduction cash after lawsuit

Money intended for women, minority and veteran restaurants was taken away after a group of white men filed charges of discrimination.

SEATTLE – A federal aid program designed to help women, minorities and experienced restaurant owners survive the pandemic backfired on them.

It was all Chelley Bassett could do to keep the doors of her beloved Murphy’s pub open during the pandemic.

“It was really tough,” she said. “We did everything to stay open. We reduced the staff to myself, my business partner, the chef and a cook.”

With her money from the paycheck protection program, Bassett petitioned the federal agency Restaurant Revitalization Fund and received $ 89,000.

She thought it was a godsend that would help keep the drinks flowing at the Seattle pub like they have for the past 40 years.

“I was so happy because it was the last little boost we needed to keep things going,” said Bassett.

But that hope soon turned into fear. As quickly as the federal government approved this money, it took it away again.

The funds gave priority to restaurants owned by women, minorities and veterans in the application process. Some white male-run businesses in Tennessee and Texas alleged discrimination. You sued and won.

Now Bassett and about 3,000 other restaurants have nothing.

“I wanted to advertise. I don’t have the money to do it now,” said Bassett. “We want to give people a raise. We can’t give a raise. What should I do?”

CONNECTED: Some restaurants are struggling to find staff as Washington allows the return to full capacity

Anthony Anton, who heads the Washington Hospitality Association, says the pandemic left the average restaurant $ 150,000 in debt.

Anton urges people to get Congress to redeem all of these grants.

“The court’s decision is the court’s decision,” he said. “There’s nothing we can do about it. Without the return of the Restaurant Relief Fund, we’ll see more restaurants close. That’s just the truth. Debt is pretty high for many small businesses and there is only a limited amount that you can do keep it up.”

A bipartisan law has been introduced in the country’s capital to fund any restaurants that have asked for help. It remains unclear whether this is possible.

Back at Murphy’s, Bassett and all these other women, minorities, and veterans find themselves at the bottom of the line if Congress decides to run another round of funding.

“We are the industry that is hurting the most and we survived through fighting and now this is happening,” she says. “That is not right.”

Census Reveals South Florida May Lose Energy and Cash – NBC 6 South Florida

South Florida could lose political power and receive a smaller share of federal funding after new census figures show Palm Beach, Broward, and Miami-Dade counties grew more slowly than other parts of the state.

This could have far-reaching consequences, as census data are used by organizations and local governments to compete for federal and state contracts and programs.

Florida generally grew slower than many people expected – and just added a new convention center. Many thought the state would get two.

The data shows that growth in South Florida was slower compared to the rest of the state, which surprised some researchers as South Florida has historically been a political powerhouse and an economic engine.

According to the census data, central Florida and southwest Florida outpaced southern Florida population growth.

“We were never the center of the state, but we were the center of attention. Now the center of the state is becoming the center of attention,” said Dr. Maria Ilcheva, the assistant director of the Florida International University Metropolitan Center – which was part of the local census committee.

Knowing the ramifications, local leaders spent much of 2020 urging the people of South Florida to fill out census forms and be counted.

“We’ll never get the money we make if we don’t know how many people live in our city,” said Miami Mayor Francis Suarez in 2020.

“The dollar amount we are leaving on the table could be $ 30 billion over ten years,” former County Commissioner Steve Bovo said at the time.

Ilcheva provided NBC 6 with numbers from the US Census Bureau’s population estimate program that showed that South Florida has grown 10.8% over the past decade. Central Florida, including Orange, Lake, Polk, and Osceola counties, grew 23.7%. Southwest Florida, including Counties Lee and Collier, grew 22.9%. Northeast Florida, including Saint John, Nassau, and Duval counties, grew 16.3%.

“Whether it is early childhood education, Pell Grants, student aid or financial support is an essential part of it, as is health care,” said Ilcheva.

According to Ilcheva, the expansion in central Florida has two reasons: lower cost of living and more job opportunities for newcomers to the area.

Ilcheva looked deeper into the numbers and said another thing had struck me. Native Floridians leave Miami-Dade County. The new growth is coming from outside the US.

It is important to keep in mind that more detailed information will be released in August and December, which will include more information on poverty, demographics and family situations.

This 40%-Discounted Fund Is A Nice Approach To Lose Cash

Angry frustrated young man


One of the things that we contrarian closed-end fund seekers (CEFs) love is that they often sell for less than they are worth.

The discounts from CEFs are particularly attractive these days as the market floats into the stratosphere. Because if you buy stocks through a CEF that trades, for example, at a 10% discount on net asset value (NAV or the value of the investments in its portfolio), you can get into great companies such as Apple (AAPL), Microsoft (MSFT) or Visa (V) for 90 cents on the dollar.

This is a great trick that you can’t find in ETFs or mutual funds. Plus, CEFs averaged 7.3% return today, so you get a monster payout on top of your discount.

But you can’t just buy the lowest discounted CEF and name it a day because sometimes a CEF is “cheap for a reason”. This is often the case when a fund’s discount becomes extreme – 20% or more.

That brings me to the fund I want to look at today: the NexPoint Strategic Opportunities Fund (NHF), Holder of a whopping 40% discount. NHF is a diversified CEF debt security that specializes in loans that real estate developers take out to pay for their properties. The fund can best be viewed as a kind of developer-focused investment bank.

As you can probably guess, the pandemic has had a huge impact on NHF: with COVID-19 shutdowns and lower property use, NHF’s portfolio has taken a hit.

The funny thing is, as you can see above, NHF’s portfolio has almost completely recovered to pre-pandemic levels. Investors remain cautious however, which is why NHF’s total return is still in double digits based on market price. This interruption is the reason why the fund gives this huge discount of 40% on the net asset value.

So what’s going on here? The truth is that investor caution is well founded – and goes well beyond the battles some commercial real estate rental companies have faced due to COVID-19.

NHF is a black box

NHF had already announced in the middle of last year that it would convert its legal status from a registered investment company to a real estate investment trust (REIT). It would remain a closed-end fund in the short term, but management hopes that switching to a REIT will help NHF “reduce the fund’s historical discount to net asset value, as REITs have on average traded cheaper than closed-end funds relative to net asset value . “

In reality, the announcement did little to shrink NHF’s discount. In fact, it got bigger in the weeks following the announcement.

This is because NHF’s portfolio contains many illiquid assets that are difficult to value: only about 20% of its holdings are regularly valued at market value. Most of the others are so-called “Level 3 assets” with values ​​that can be subjective and can be assessed with great difficulty. These holdings, which include the real estate assets shown in the breakdown below, are also valued far less often than those that are traded on the stock exchange.

NexPoint portfolio allocation


The REIT’s announcement worried investors that these assets are currently overvalued and the conversion could cause the fund’s net asset value to fall rather than meeting management’s hopes that the change would result in an increase in the market price of NHF .

Add in the fact that NHF’s return is well below the CEF average at 5.2% and you see why investors are refusing to buy the fund at anything other than a fire sale price.

The future of NHF

This does not mean that NHF is a disaster. Indeed, some tailwinds could help the fund perform well.

Most notably, these include rising interest rates, which are beneficial to some of NHF’s assets, particularly the Collateralized Loan Obligations (CLOs) that increase with interest rates. In addition, the rapid pace of vaccination in the US and NHF’s focus on American assets could lead to an increase in demand for real estate in the Fund’s portfolio portfolio and the real estate that supports the loans it invests in and the net asset value and the Increase net asset value This will quickly shrink the discount.

Needless to say, such a bet is speculative at best, as the discount could last for some time given the uncertainty surrounding the conversion.

However, the wide range of the NHF discount on the net asset value in just three years (from 3.6% in January 2018 to 64% in March 2020) underscores a key strategy that we always apply when investing in these funds: buying the stark discounted funds when the market mispriced them and sell them when their discount becomes too small. The best part is that CEFs give you high returns of 7% or more (sometimes a lot more) while you wait for the discount to go away.

Michael Foster is the lead research analyst for Contrarian Outlook. For more great income ideas, click here for our latest report. “Indestructible Income: 5 bargain funds with safe dividends of 8.3%.

Disclosure: none

Did You Lose Cash on Your Funding? Contact Johnson Fistel Relating to Investigation


Dealer arrested as WallStreetBets phenomenon hits Japan

(Bloomberg) – An individual investor buys shares in a small business, promotes their position on social media, and inspires a horde of followers to do the same. The share price goes to the moon – before falling back to earth. It’s an all-too-familiar story to anyone watching the market in 2021, but this wasn’t GameStop Corp. It wasn’t even in America. And it happened in 2018. It was in the Japanese city of Osaka that a day trader known by the nickname Tonpin hit a tiny precision tool and mold maker called Nichidai Corp. and posted this on Twitter, where he has more than 55,000 followers. The stock rose more than six-fold in the first three months of 2018 before losing most of its profits. The person behind the nickname was Toru Yamada, a former money manager, and he and another man were just arrested for market manipulation, according to Japanese media reports. He was arrested not for bringing up the stock on Twitter, but rather on suspicion of keeping the stock price low – although that would have lifted restrictions on margin trading, causing stocks to hit new highs in the incident shows how regulators sift through unusual trading patterns and often come to conclusions years later. This could pique the interest of protagonists and observers of the recent meme stock rally in the US, such as users of the Reddit forum WallStreetBets.Yamada, which has not yet been charged and it is not clear whether it will. And while no one is suggesting that U.S. traders use tactics similar to the ones they allegedly used, the case shows the risks that can be involved in becoming a high profile social media investor. While you’re in the public spotlight, you may also be caught in the crosshairs of regulators: “Everyone will be on their toes,” said Taketsugu Agari, the investor known as Takezo on Twitter, where he has nearly 100,000 followers. “People don’t know what’s right and what’s wrong,” he said. “People don’t know the rules.” Calls and direct Twitter messages to Yamada went unanswered. The Osaka District Procuratorate declined to comment. The Securities and Exchange Surveillance Commission, Japan’s market observer, was not immediately available for comment. According to local media reports, the prosecution did not make it clear whether the men had approved or denied the charges. A regulatory filing shows that Yamada’s first disclosed purchase of Nichidai shares was on December 8, 2017 and he was gradually increasing his stake. When he first tweeted about it on February 1 of the next year, stocks had nearly tripled. In March of this year, Yamada and another man placed a large number of sell orders below market price reports shortly before the close of trading, according to media reports. Their intent was to keep the stock price below a certain level to ensure that restrictions on new margin trading on the stock were lifted, the reports said. The stock was exempt from the measures and rose up to 18% on March 12 on its next trade. In a tweet on March 10, Yamada appeared to be discussing this process, showing screenshots of Nichidai trades just before the close of trading, although this is unclear aside from his arrest, Yamada has had a lot of arguments on Twitter over the years over his discussions about his investments. “The authorities need to put some regulations in place,” said Soichiro Iwamoto, a longtime trader whose company gives new advice to investors, said in an interview about the practice of talking stocks on social media. “The investors here don’t have enough financial knowledge.” Others wondered what exactly Yamada had done wrong. “It is amazing that selling to lift margin restrictions is being treated as market manipulation,” Akira Katayama, a busy day trader named Gogatsu, wrote after his arrest. Japanese retail investors have advocated the country’s thousands of thinly traded stocks online for more than a decade, starting with the bulletin boards popular in the mid to late 2000s before moving to Twitter, the dominant platform in recent years. Locust Lords “are known to attract a swarm of day traders. Yamada was the last of the Lords to fall silent in June when he said he was taking a break from Twitter after his account was briefly suspended. Okansanman, an anonymous account with 175,000+ followers and known for its quick delivery of Breaking News, went dark in early 2019 and has not re-emerged. Mysterious Twitter user Drawing a Swarm of Japan TradersYamada worked for two Chinese state funds before starting day trading in Japan in 2013, he told Bloomberg News last year. He shared the opinion on Twitter even before his arrest with devoted followers who copied his deals and others who accused him of being a manipulator, and used his influence to pump up stocks before they were dumped. “When a lot of Japanese lose, they want to blame it on someone else,” he said last year, wiping off his critics. Followers may have to wait to learn of Yamada’s fate. Under Japanese law, he can be held for up to 23 days before charges are brought. Meanwhile, many of his colleagues in the country who enjoy discussing stocks are moving from Twitter to other places, including encrypted messaging apps like Line and new platforms like Clubhouse, according to investor Agari. That makes it harder for regulators to monitor, he said. Read More: GameStop Frenzy Is Lost In Translation For Japan’s Day Dealers. If the Japanese experience matters, regulatory action may be a long time coming, if it happens at all. “This has been so for over a decade, since people have used bulletin boards,” Agari said, referring to retail investors talking about stocks online. “America is starting to look like Japan.” (Updates with more details) For more articles like this, visit Sign up now to keep up with the most trusted business news source. © 2021 Bloomberg LP