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A Greenwich, Connecticut-based hedge fund is behind the purchase of a block of 46 taxi medallions that were snapped up in a foreclosure auction this week.

The medallions — the metal plates on yellow cab hoods allowing them to legally pick up street-hails — have plunged in value since the arrival of Uber and other ride-sharing services in the city.

They once fetched as much as $US1 million but were sold for $US186,000 each at the auction, an industry source told Business Insider.

In other news, legendary investor Laszlo Birinyi — who hass nailed the bull market at every turn — shares the hidden secret of future stock gains. Traders are making huge bets that the Toys R Us bankruptcy will crush one of its main suppliers. And here’s why Amazon is still such a threat to Toys R Us, in one chart. Meanwhile, Best Buy is the latest victim of the retail apocalypse.

144 years ago, the stock market shut down for the first time because of a panic — here’s what happened.

In markets news:

Republicans’ last-ditch effort to repeal Obamacare is really all about tax cuts. Trump’s attempt to rewrite NAFTA pushes a provision that is ‘senseless — and unnecessary,” according to Jeffrey Schott, senior fellow at the Peterson Institute for International Economics.

The Fed risks repeating a ghastly mistake it made right before the past 2 recessions.

And North Korea’s biggest trading partner is China — and it’s not even close.

Last but not least, the best time to look for a new job isn’t when you hate your current one. It’s when you love it.

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