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Oil Trading 'God' Andrew Hall Is Reportedly Leaving Legendary Commodities Firm Phibro

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andrew john hall

Oil trading "God" Andrew John Hall is leaving Phibro— a commodities trading unit Occidental Petroleum purchased from Citigroup in 2009, Bloomberg News reports citing sources familiar. 

According to the Bloomberg report, Hall will focus on his hedge fund Astenback Capital Management, which he founded in 2010. The fund currently manages about $3 billion in assets. 

Hall—a lengedary oil trader— became notorious as the leader of Phibro when he demanded a $100 million pay package from then-owner Citigroup during the financial crisis.

Phibro, which has been around since 1901, laid off some of its US-based employees today, Reuters is reporting. The firm is looking to sell some of its overseas operations, the report said. According to Reuters, some of the traders in the Westport, Conn. headquarters have been retained to help run Astenback Capital. 

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Here's Jeff Gundlach's Awesome Presentation On The Changing World Of Investing

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gundlach

All year, Jeffrey Gundlach has nailed what would happen with interest rates and the US dollar.

In a new presentation titled, "This Time It's Different," Gundlach outlines the challenges he sees facing the Federal Reserve and the global economy right now. 

Gundlach also highlighted some of the complications that the crash in oil prices could pose for the global economy.

And of course, Gundlach staged a defense of his presentation's title. 

"It's always different," Gundlach said. "The one thing that is constant in the world of investing is change... Things are always changing."

Go through all 60 of Gundlach's slides and you'll see what he's talking about. 

DoubleLine Funds: This Time It's Different



DoubleLine Funds: This Time It's Different



DoubleLine Funds: This Time It's Different



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You Can Boost Your Creativity By Looking At Art

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cave paintings in lascaux France

Something in our brain responds when we look at a painting.

That experience refreshes and changes us. Afterwards we are more creative and open to learning. We are less mentally fatigued.

Our brains are primed for enjoying art.

For longer than we've had the written word, humans have created and stared at images drawn onto walls in the hopes of invoking something — story, awe, remembrance.

Forty thousand years ago, beasts may have been drawn in hopes they'd become more common, or perhaps those images were the work of ancient shamans, trying to account for some mysterious spirit vision.

We don't know exactly why we started doing it but we persist in making and looking at visual art to this day. And while we can only theorize about what inspired us to start making art, modern research helps us understand something about what's going on in our brain when we see it now.

A study published in the June issue of the journal Brain and Cognition looked at the research that neuroscientists have done while scanning the brains of people looking at paintings. In some cases subjects were asked to evaluate the work they looked at, in others they just looked.

Viewing paintings triggered responses in brain regions associated with visual understanding and object recognition, as might be expected, but viewing artwork also was connected to activity associated with emotions, inner thoughts, and learning.

rothko

Other research tells us more about how art can change the way we see the world.

In Business Insider's 21-day self-improvement program, one early assignment involves spending time in a museum — but the point of that isn't just to have a fun afternoon.

After visiting an art museum, students show stronger critical thinking skills and are more socially tolerant. Much of the research on this topic involves children or young adults but the benefits are consistent, and other research shows that (more general) arts programs may help older adults keep healthy and stave off cognitive decline, though more studies are needed in the area.

Visiting a museum can relieve mental fatigue and restore the ability to focus in the same way that the outdoors can, according to research from the University of Queensland in Australia — this research wasn't limited to art museums, which is why the assignment doesn't require an art museum specifically.

But in general, going to a museum is a novelty-seeking venture, which triggers your brain to be open to learning. Not only does this provide long lasting cognitive benefits, it's also connected to one of the Big 5 personality traits— openness to experience. This is the trait most associated with creative achievement.

Exposing ourselves to art, this thing that has been a part of human experience for thousands of years, has effects on us.

Writing for the National Endowment of the Arts, Brain Pickings founder Maria Popova described this phenomenon as "the power to transcend our own self-interest, our solipsistic zoom-lens on life, and relate to the world and each other with more integrity, more curiosity, more wholeheartedness."

SEE ALSO: Take Our 21-Day Program For Radical Self-Improvement

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This Amazing 25-Year-Old Woman Helped Bring Apollo Astronauts Back From The Moon

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women in space

Dec. 24 is the 46th anniversary of Apollo 8's lunar orbit — the first manned mission to travel to the moon and back.

Although NASA was full of men at the time, there was one woman in the mix: Frances "Poppy" Northcutt, who was an integral part of the engineering team on the Apollo missions.

Northcutt's experience with working on the Apollo 8 mission is detailed in the PBS documentary, "MAKERS: Women in Space," the third film in a series of six documentaries about women pioneers.

Northcutt was born in Manny, Louisiana in 1943 but grew up in Luling, Texas. She attended the University of Texas where she studied mathematics.

Source: "MAKERS: Women in Space."



She chose mathematics because it was a degree with which she could get “a man’s job … there were advantages to doing things where you could get paid more and avoiding women’s work,” she told Jane Ely in a 2008 interview for the Houston Oral History Project.

Source: Houston Oral History Project.



In three-and-a-half years, Northcutt graduated. Shortly afterward, she went to work for an aerospace contractor, TRW Systems, who collaborated with NASA on the Apollo Program. TRW designed and built the descent engine for the Apollo lunar lander, among other projects. Northcutt immediately began working on “Apollo stuff” as she puts it.

Source: "MAKERS: Women in Space."



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Harvard Business Professor Defends Rant About Restaurant Overcharging Him $4

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Ben EdelmanA Harvard Business School professor is in the news after a series of emails between him and the manager of a local Chinese restaurant  — a self-described "mom and pop" business — were published online by Boston.com.

HBS associate professor Ben Edelman criticized Chinese restaurant Sichuan Garden and restaurateur Ran Duan, who manages the connecting Baldwin Bar, for supposedly overcharging him $4 on his takeout dinner order. Edelman said he had alerted local Boston authorities about Sichuan Garden's out-of-date website and Duan's initial offer to only refund him $3.

Here's how he defended his emails in a statement to Business Insider: 

I think the Boston.com piece totally misses the benefit that all diligent consumers provide in looking for overcharges and other errors. We all rely on trust in our daily lives — that when sales tax is added, it actually applies and equals the specified amount; that the meter in a taxi shows the correct amount provided by law and correctly measures the actual distance; that when you order takeout, the price you see online matches the amount you pay in the restaurant. We all take most of this for granted. It would be a lot of trouble to all have to check these things day in and day out. That's exactly why we should be concerned when folks fall short — because hardly anyone ever checks, so these problems can go unnoticed and can affect, in aggregate, large amounts.

If you look at my other work, e.g. http://www.benedelman.org/airfare-advertising/, you'll see I've been pretty diligent in holding large companies accountable for their false statements of price and other attempts to overcharge passengers. Should all small businesses get a free pass? Some people seem to think so, I wonder if that really makes sense.

Notably, though not emphasized in the Boston.com piece, the restaurant at issue knew the website prices had been "out of date for quite some time." At what point should they do something about it? I'm pleased to have at least gotten the problem fixed for the benefit of others.

SEE ALSO: Harvard Professor Goes On Rant About Business Ethics After He Was Overcharged $4 For Chinese Takeout

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CHART OF THE DAY: Instagram Is Now Bigger Than Twitter

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Instagram on Wednesday announced it has more than 300 million monthly active users, which surpasses Twitter’s 284 million users. 

Based on company data charted for us by BI Intelligence, Instagram has been rapidly adding users over the last few years — Facebook’s $1 billion purchase of the photo sharing service in April 2012 seems to have helped spur that growth considerably. And while Twitter is growing, too, it probably won’t catch Instagram: Based on Twitter’s current growth rate and BI Intelligence’s own estimates, Twitter should reach about 296 million monthly active users in the fourth quarter, which is still several million users short of Instagram’s current status.

bii sai cotd twitter instagram maus

SEE ALSO: Facebook And YouTube Account For Almost 40% Of All Mobile Internet Traffic

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The Oil Crash Has Done Nothing To Slow The American Shale Boom (USO)

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Back in November, we highlighted this chart of US oil production. We called it the chart of the year. 

And now, the chart of the year is even more impressive. 

Mark Perry at AEI tweeted out an updated version of the chart on Wednesday after the EIA's latest status report showed that US crude output surged again during the first week in December.

Crude production rose to 9.12 million barrels per day in the first week of December, the highest since 1986. 

Back in November, we highlighted comments from Deutsche Bank economist Torsten Slok, who said, "The most important reason why oil prices are falling is because of the dramatic increase in recent years in US crude oil production."

And this story hasn't changed. On Thanksgiving, OPEC — the 12-member oil cartel that includes oil exporters like Saudi Arabia and Kuwait — declined to curb production in an effort to combat the decline in prices.

On Wednesday, Saudi oil minister Ali Al-Naimi told reporters that market pressures push commodities up and down, up and down. "Why should I cut production?" Al-Naimi asked reporters. 

Three weeks ago when we first highlighted this chart, WTI crude oil was trading at around $75; on Wednesday, WTI was near $61. 

And US production, at least for now, is showing no signs of slowing down. 

December 10 COTD

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There's A Huge Climate Meeting Happening In Lima — Here's Why You Should Be Paying Attention

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pollution

World leaders, gathered this week in Lima, Peru, are on a mission to save the world.

They're working on a landmark international agreement which, if successful, could change the course of the planet's future.

The gathering in question is the United Nations Framework Convention on Climate Change (UNFCCC), which began last Monday, Dec. 1, and will continue through this Friday, Dec. 12.

Its major goal: to develop the skeleton of an international agreement to curb greenhouse gas emissions and prevent the worst consequences of climate change.

The agreement, which will include individual emissions reduction plans from nearly 200 countries, will be finalized and signed at 2015's convention in Paris and will go into effect after 2020.

It's a monumental undertaking for the governments and negotiators designing the deal — but ordinary citizens should be keeping an eye on Lima, too. Here's why:

The Lima framework will spell the success of the next-year's future-changing agreement.

Paris is going to be the ultimate meeting to keep an eye on — after all, that's where the final agreement will be presented and signed. But this means negotiators must be all the more careful to put out a carefully designed and workable draft in Lima this week.

The draft that comes out of Lima won't contain every country's concrete emissions reduction plan right away. The agreement for now is that each participating country add its plan to the document by March 2015, so that everything is ready for the December signing in Paris. But there are still a lot of rules to hammer out in the meantime.

One major question nations hope to decide at Lima is how the agreement will be enforced. The New York Times reports that some nations, including the United States, have opposed the idea of a ratified, legally binding document. And the same article reports that other nations, such as China, have pushed back at the suggestion of any outside monitoring of the promised emissions cuts. Settling these issues is a major hurdle to completing a document that will be effective and satisfactory to all parties.

Money is another big question. The Green Climate Fund is a United Nations project — a fund that will distribute money to developing nations to aid them in mitigating their carbon emissions. The fund works on the premise that developed nations, whose economies are stable enough to afford emissions cuts, will donate.

Right now, the fund contains about $10 billion in donated cash, and the UN hopes to increase these donations to the amount of $100 billion annually by 2020. These donations are a crucial part of the UN plan to make emissions reductions feasible for all countries — but it's still unclear whether donations will be a required part of the Paris agreement for developed nations.

This is another detail that, with any luck, negotiators will figure out by the end of this week.

The Paris agreement could prevent some catastrophic climate change consequences.

The agreement being drafted at this year's convention will, ideally, set limits that will reduce overall global emissions to a point that will keep temperatures inside a safe range — within 2 degrees Celsius of their pre-industrial levels.

This was the goal set at the 2009 UN Climate Change Conference, and beyond this point, many scientists have warned that the planet could experience a domino-like series of catastrophic consequences, including rapid ice melt and sea-level rise, extreme weather events, food shortages, and extinctions. These events will affect hurt everyone, and could even hurt future generations' ability to survive on the planet.

The fact that every country is in charge of designing its own emissions cuts could be problematic: It means that every nation will be coming up with a domestic goal, based on what it thinks it can reasonably afford, rather than everyone collaborating to set a global emissions goal that will definitely meet the 2-degree target.

Many experts are increasingly pessimistic about our ability to actually meet this target: As it is, the world is on track to blow past the 2-degree goal by mid-century. So, while ultimately it's up to the participating countries to come up with ambitious enough emissions cuts for the final agreement, it's crucial for the Lima negotiators to put out a workable draft this week if we want any hope of making the cut.

This is our chance to repeat history — the right way.

This is not the first time the UNFCCC has convened with such a goal in mind. The first international emissions reduction agreement was the 1997 Kyoto Protocol, which set binding emissions reduction targets for 37 developed countries.

The Protocol was designed to occur over two periods of time. From 2008 to 2012, participants agree to cut their emissions down to an average of 5 percent below their 1990 levels. From 2013 to 2020, participants are expected to cut their emissions down to 18 percent below 1990 levels.

While some of the Kyoto signers met their targets in the first commitment period, global emissions as a whole have showed no signs of slowing down. This is at least partly thanks to a sharp emissions increase in certain developing nations, such as China, which is now the largest emitter of greenhouse gases in the world.

It's important to keep an eye on Lima to see how this draft will differ from the Kyoto Protocol, and whether these differences are likely to make the Paris agreement more successful that its predecessor.

We've already got some momentum going.

US_China_ClimateStill, there's been some room for optimism already.

The US and China announced a historic climate deal last month, whereby the US agreed to cut its emissions down to about 26 percent below their 2005 levels, and China — whose greenhouse gases have been increasing for years — agreed to cap its emissions in 2030.

The plan is by no means enough to save the world on its own, but it's a start. And in October, the European Union agreed to cut its emissions down to 40 percent below their 1990 levels.

As the week wears on, climate activists may have some hope that the convention will close with a solid framework for Paris, which political leaders — particularly UN Secretary General Ban Ki-Moon — have touted as the real event to look forward to. But unless a concrete foundation is laid at this year's convention, there can be no success in Paris — which is why all eyes remain trained on Lima.

SEE ALSO: Here's How Much Carbon The US–China Climate Deal Will Actually Save

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How To Shave Your Beard In Four Easy Steps

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beard

Whether you committed to No-Shave November—and kudos to you, if that's the case—or boarded the beard bandwagon in the name of style and self-expression, we have to admit something. We're a bit beard-fatigued. Because now, more than ever, doesn't it seem like they're everywhere? Is it possible we've hit the beard tipping point?

This is why we can't think of a better time to take matters into your own hands and make the bold leap from burly to bare. Here, head barber and shave expert Yulia Kim of the swanky Julien Farel Salon at Langham Place Fifth Avenue and the Loews Regency shares how to properly take take down your beard to reveal and rediscover that handsome mug you've had all along.

Trim

Because shaving is the final step, "there's no need to be too careful or precise at this point," Kim says. With any pair of hair-cutting scissors—Tweezerman makes a solid, affordableversion—cut the hair as close to the jawline as possible. Just try not to cut away too much hair at once. Short and quick, even snips will do the trick.

Shave

This is the easiest step. So easy you could probably do it blindfolded. Use your favorite electric shaver to shave down the post-trim stubble and strays. No muss, no fuss.

Shower

Kim says to hop into the shower at this point. The hot water and steam will not only open up pores but also soften the skin to prep your face for a super-close shave.

Shave Again

Most of you have your favorite brands when it comes to this step, but Kim recommends the Italian shaving brand Proraso. "It's not expensive, and it's a brand I've used for a long time," he says. "The shave cream has a great scent and consistency, and the aftershave has antibacterial agents (especially helpful when there's a nick or two)."

If you have really sensitive skin, though, Kim recommends swapping out the aftershave for coconut butter. It's all-natural, affordable, and hey, you can swirl some into your food after slapping it on your face.

 

More From Details:

The Secret Benefits of Beards

6 Ways to Make Your Beard Grow Faster

How To Maintain Perfectly "Unkempt" Stubble

What to Do If Your Hair Starts Thinning

Top 5 Hairstyles for Men

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Tinder User Tries To Get Dates By Using Darren Rovell's Tweets As Pick Up Lines

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Darren Rovell

Can Darren Rovell's 140-character bursts of thought be useful when trying to score a date?

One Tinder user tried to find out.

Bleacher Report says this person, "who was blocked by Rovell on Twitter, decided to use the ESPN reporter's tweets on women."

Rovell is a sports reporter for ESPN that focuses on business. He and his followers have a love/hate relationship.

This Tinder experiment led to a variety of results, which are all compiled on this Tumblr. 

Here are some of our favorites:

 

Blimp rankings:

tumblr_inline_ngc8goM9Sc1qmzoqe

 

Asking for an opinion about Joe Paterno is a smooth entrance:

tumblr_inline_ngc8i5D3Yn1qmzoqe

 

Did you know?

tumblr_inline_ngc8q3gTaW1qmzoqe

 

Soulmates:

tumblr_inline_ngc8mikjtC1qmzoqe

 

Opinions on hummus:

tumblr_inline_ngc8wfiV981qmzoqe

 

Makes you think!

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Solid tip:

tumblr_inline_ngc8ooCUE31qmzoqe

 

Just ignore:

tumblr_inline_ngc8x6UeeU1qmzoqe 

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These 12 Sketches Perfectly Illustrate The Path To Wealth And Financial Happiness

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12_Focus_ThingsThatMatter

New York Times columnist, author, and financial planner Carl Richards has made a career out of exposing and analyzing what he calls the "behavior gap"— the gap between what you should do with your money and what you actually do.

Richards has boiled down his wisdom on wealth and happiness in a dozen sketches that he's giving away to his readers during the "12 Days Of Behavior Gap," and which anyone can receive by signing up for his newsletter. We've shared them here with his permission.

There are a limited number of things you can control, Richards says, and you don't have power over everything that matters. It's the important things you can control that should occupy your efforts.



It's your advisor's job to help figure out where that sweet spot is. "A real advisor should be the thing between YOU and the BIG MISTAKE," Richards tweeted along with this sketch.



"Even after you figure out the math around a decision, you have to navigate the emotional complexity that comes with money," Richards writes on his website. The best financial moves are usually very simple.



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Chris Bosh Explains Why He Accepted Losing To The San Antonio Spurs In The 2014 NBA Finals

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Chris Bosh Tim Duncan Finals

The San Antonio Spurs impressed the sports world in 2014 by blowing away the Miami Heat in five games in the NBA Finals.

The Heat were in their fourth straight Finals appearance, going for the highly coveted "threepeat"— a journey Chris Bosh told Zach Lowe was "draining."

Bosh also told Lowe that the Spurs recognized it was their moment and seized it.

Bosh explained that winning in the NBA is now about playing great, systematic basketball. He explained the Spurs don't necessarily look like a championship team, but "They will run you into the ground. Because they buy into their system, and they do it together." 

Bosh continued, saying he could accept losing to the Spurs because of how well they played in their system:

"The Spurs trust each other to the fullest. It’s the best basketball I ever saw. And I told them that after they beat us. That’s why I wasn’t really that bummed out. I was like, Man, if I’m gonna get beat, it’s by you guys. I can respect that."

The Spurs actually played similarly to the Heat with rapid-fire ball movement inside, outside, and around the perimeter. But in the Finals, San Antonio's offense got unbelievably hot, and it fueled their defense, too, allowing them to blow Miami out.

The Spurs' dismantling of the Heat may very well have been the most impressive basketball the NBA has seen in years, and it's inspired teams across the NBA to try and create a similar, all-encompassing style of play.

SEE ALSO: 55-Year-Old Legend Who Quit His Job To Work For The Spurs Explains Why Gregg Popovich Is A Genius

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REPORT: eBay Will Cut Thousands Of Jobs Early Next Year

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Ebay John Donahoe

eBay might eliminate thousands of jobs early next year as it gets ready to spin off PayPal, sources familiar with the situation tell The Wall Street Journal

The cuts would affect at least 3,000 employees in eBay's core marketplace division, according to one source. That would be the largest cut at eBay in many years (blowing past the 325-person cut from PayPal back in 2012). 

The company announced that it would spin off PayPal in September to give each company a sharper focus. At the end of last year, eBay had 33,500 employees split between PayPal and the marketplace part of the company. 

The Journal's sources said that the company is still evaluating its options and could alter the job-cut plan, but adjustments are undoubtably on the horizon. 

"There will be changes," Devin Wenig, current marketplace division president and future chief executive of eBay, told The Wall Street Journal last month. "There will be significant changes." 

An eBay spokesperson told Business Insider that the company doesn't comment on rumors. "We are focused on running the business and setting eBay and PayPal up for success as independent companies."

SEE ALSO: You Can Now Haggle For Certain Items On Amazon

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The BRICs Are Fizzling Out

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BRICS

FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. 

The BRICs Are Fizzling Out (Financial Planning)

Ever since Goldman Sachs's Jim O'Neill came up with the acronym about 10 years ago to represent Brazil, Russia, India and China, the MSCI BRIC index has gained 11% annually. But that growth has been mostly front-loaded.

This year, it saw an annualized return of just 1.4%.

By contrast, the US broad market index when up at an annualized return of 8.5%, but saw a one-year gain of 15.6%.

And since the BRIC nations have problems, investors are hesitant to really jump in. Brazil and Russia are suffering from oil problems, while China is slowing. India recently saw a surge stocks following the new government, but that leaves the shares 50% more expensive than the others.

The ECB May Provide A Degree Of Stability In A Volatile World (PIMCO) 

The European Central Bank is expanding its balance sheet to mitigate low growth and lower inflation, which should keep European assets supported. Additionally, as volatility and geopolitical uncertainty continues to increase, the ECB will provide a degree of stability.

"In a world of relatively low government yield, European (and global) credit markets offer some attractive opportunities for higher returns. Investors may favor flexible, diversified credit strategies, which can take advantage of market opportunities and deliver return potential in the range of 4%-6%, with similar levels of volatility," writes Eve Tournier of Pimco.

Goldman Sachs Has To Pay 2 Brokers $7.6 Million (Reuters) 

Goldman Sachs has to pay two brokers $7.6 million after they were "wrongfully terminated" back in 2007. The brokers alleged that Goldman forced them to forfeit deferred commissions after they were fired, reports Suzanne Barlyn.

"We do not believe that the law or the record remotely supports the finding on liability or the amount of damages awarded and we are considering our options, including an appeal," a Goldman Sachs spokesperson said.

3 UBS Advisers Just Left For Wells Fargo (The Wall Street Journal) 

Three UBS advisers just left UBS Wealth Management for Wells Fargo. The team focused primarily on corporate retirement plans and high-net-worth families, reports Michael Wursthorn.

The team oversaw $463 million in assets, and generated $3.5 million in fees and commissions for UBS. They will be moving those assets to Wells Fargo in two offices, one in Chicago and the other in Chesterton, Indiana.

Married Couples Can Employ A Combo Strategy For Social Security (Investment News) 

Couples always want to beat the system, so to speak, when it comes to filing benefits. But it's important to know that both cannot file restricted claims in an attempt to collect spousal benefits while their own retirement benefits grow until they turn 70.

Unfortunately, Social Security doesn't work that way. Fortunately, there is a way for couples to collect benefits together.

"Depending on their age differences and benefit amounts, a married couple could employ a combo strategy where one spouse files and suspends at 66 and the other spouse, who is also at least 66, files a restricted claim for spousal benefits only," writes Mary Beth Franklin. And then, "at 70, each spouse could switch to their own retirement benefit."

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'King Of Instagram' Released From Jail

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Dan Bilzerian

Dan Bilzerian, known to his 5 million Instagram followers as the "King" of the social media platform, has been released from jail after he was arrested late Tuesday night at LAX.

KTLA reports charges were dropped against the the 34-year-old. 

LAPD Officer Jack Richter tells KTLA that Bilzerian was "arrested on a fugitive warrant out of Nevada, and had faced felony charges in the state, including possessing or manufacturing explosive or incendiary devices."

Bilzerian earned his royal status on the photo-sharing app after sharing hundreds of photos of his seemingly-lavish lifestyle.

You can take a look at his entire profile here, but if you're just looking to get a sense of who this guy is and what he's doing on Instagram, we've selected some images: 

Screen Shot 2014 12 10 at 5.52.57 PMScreen Shot 2014 12 10 at 5.53.10 PMScreen Shot 2014 12 10 at 5.52.18 PMScreen Shot 2014 12 10 at 5.52.33 PM

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Former JPMorgan Banker Lands 6-Figure Book Deal For 'Social Network'-Meets-'Wolf Of Wall Street' Online Series

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social network

Michelle Miller, a former banker at JPMorgan, just landed a six-figure book deal based on her self-published online series "The Underwriting," a 12-part weekly serial found on theunderwriting.com

The corporate thriller is being billed as "The Social Network"-meets-"The Wolf of Wall Street" and takes place at an online dating startup, according to the AP.

Michelle Miller

The story, scheduled for a May 26 release, will take on both Silicon Valley and Wall Street and explore office politics, sex, and murder at a San Francisco startup preparing for an IPO.

Miller, who received an MBA from Stanford University, plans to write five books for the series; the Penguin Random House imprint has only acquired the first two books. 

Lauren Weisberger, author of the "The Devil Wears Prada," says of Miller's series:

Michelle Miller's debut novel reads like a salacious, ripped-from-the headlines tell-all of Manhattan's young, wealthy, and uber-successful. From the very first page, I felt like I'd met these characters in real life: Todd, the hot, rich, d-bag banker; Tara, the striver perfectionist who can't quite please everyone; Kelly, the good girl with a secret, and Josh, the creepy savant genius who just might change the world. 

What do they all have in common? A certain location-based hookup app that alters each of their lives in shocking ways. Get ready to settle in-you won't be able to put down this book.

Here's more from 'The Underwriting''s website

The Underwriting initially aired on this website as a 12-part weekly serial in the spring of 2014. Episodes, which took about 30 minutes to read, were released each Wednesday, free to read for 24 hours, or available for purchase as text or audio files. The series was accompanied by DJ playlists, photography, finance tutorials and brand sponsorships, and found a global audience whose loyalty to the story and its delivery was, for its author, the stuff of much skin-tingling.

"I really wanted to create a new type of publishing model,"Miller told Elle magazine in March. "I wanted to create a project that mimicked the world that I was talking about, and to do that, I felt it needed to function like a start-up. So I set up an LLC, raised money from venture capitalist investors for equity, and basically, they get a piece of whatever I would’ve gotten if I had just done it as an individual writer. To me, you can invest in content the same way you can invest in an app, and maybe it works, and maybe it doesn’t."

Miller told the magazine that there a few misconceptions about Silicon Valley and Wall Street:

I worked at JPMorgan’s private bank in the Palo Alto office, so we were managing assets for the new wealth at Facebook and Instagram and Pinterest and other Silicon Valley tech companies. Wall Street is not as conniving and sexy as people think it is. And Silicon Valley is not as heroic and well-intentioned as it’s often written out to be. I find Silicon Valley to be a much more difficult place to work than Wall Street, especially as a woman. In Silicon Valley, there’s this general “I think I’m better than you” attitude. I also think that Silicon Valley gets let off the hook, because there’s almost this high school mentality of it’s mean to pick on the nerd, but at the end of the day, there are some really difficult personalities that don’t necessarily make for good companies or good working environments. It’s not all just broomball tournaments and free food and hoodies. There’s some real undiscussed tension that’s honestly like Wall Street 20 years ago. I mean you can look at company websites and you see the white dudes running the business, the immigrants doing the engineering, and cute girls doing HR and ad sales. That’s as much as you’re ever going to get as a girl there.

Watch the trailer for Miller's "The Underwriting" series below:

SEE ALSO: 30 'Bond' Women Then And Now

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Here Are 15 Great Gifts For The Apple Addicts In Your Life (AAPL)

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Apple santa claus

The holidays are just around the corner, and you want to get something amazing for the Apple fan in your life.

Don't get them an iPhone or an iPad.

They already have those.

We've put together some gift ideas that will endear you to any Apple lover — at least until the next big thing comes out.

 

It isn't cheap, but this Parrot Quadcopter drone runs off an iOS app and shoots high-definition video. Get this for the Apple fan you truly love.

Available on Amazon for $666.67.



This case for the iPhone 5 and 5S comes in handy at parties. It's got a bottle opener built in.

Available on opencase.com for $10.



And this keychain breathalyzer will let your friend know when it's time to call an Uber.

Available on Amazon for $52.02.



See the rest of the story at Business Insider

A New, Baffling Detail From The Ray Rice Fiasco Makes The NFL Look Even Worse

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Ray Rice

ESPN's Don Van Natta Jr. got his hands on the 631-page transcript from Ray Rice's successful appeal hearing, and it's ugly for the NFL.

The most interesting new tidbit is that the NFL's security team never asked the Atlantic City Police Department for the video of Rice knocking his now-wife unconscious inside the elevator of the Revel Casino, according to the testimony of NFL investigator Jim Buckley.

Commissioner Roger Goodell initially said they did.

An arbitrator ultimately overturned Rice's suspension, saying he never mislead the NFL about what really happened inside the elevator, as the league had claimed.

From Van Natta:

On Sept. 10, Goodell wrote a memo to all 32 team owners -- his bosses -- and said the same, assuring them that "on multiple occasions, we asked the proper law enforcement authorities to share with us all relevant information, including any video of the incident." He cited the "New Jersey State Police, the Atlantic City Police Department, the Atlantic County Police Department and the Atlantic County Solicitor's Office."

But one day before Goodell sent that memo, the league's lead investigator on the Rice matter had actually told the league's director of security that he had never requested the inside-casino elevator video from the one law enforcement agency that actually had it, the Atlantic City Police Department: "Again, I never spoke to anyone at the casino or the police department about the tape," NFL investigator Jim Buckley wrote in a Sept. 9 email to NFL executive vice president and chief security officer Jeffrey B. Miller. The last e-mail on the chain from Buckley says: "I never contacted anyone about the tape."

ESPN legal analyst Lester Munson was dumbfounded by this. The NFL security team consists of 13 employees and 70 contracted private investigators, yet they allegedly couldn't get their hands on the tape. How is that possible? At the very least, it suggests incompetence.

Munson wrote:

Jeffrey Miller, the NFL's chief security officer, testified that he presides over a full-time staff of 13 experienced investigators, many of them former police officers and federal agents. He also described 70 private investigators who work under contract for the NFL, two in each NFL city and in Los Angeles, Las Vegas and Hawaii. It's an investigative force that has been viewed with awe and respect for a long time, but Miller admitted that his agents had made no requests for the inside-the-elevator video from the local police, from the state police or from the casino. His testimony left the impression that the NFL security staff is more concerned with its "case management system" than with aggressive pursuit of real information.

We've reached out to the NFL for comment.

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Watch Malala Yousafzai's Nobel Peace Prize Speech That Has Everyone In Awe

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Malala Yousafzai was awarded the Nobel Peace Prize for campaigning for the rights of children and young people, particularly their right to education.

Back in October 2012, she was shot by the Taliban for asserting her right to an education

Produced by Alex Kuzoian. Video courtesy of Associated Press.

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There's A Mysterious Meteor Shower Happening This Weekend

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geminids meteor shower

This weekend is your chance to see an amazing, and equally mysterious, meteor shower called the Geminids meteor shower.

"The Geminids are my favorite," said NASA Astronomer Bill Cooke in a release, "because they defy explanation."

So, what makes this meteor shower so special?

To start, astronomers only recently discovered what caused this shower despite having the opportunity to observe and study it annually since 1862.

It was not until 1983 when a NASA's IRAS satellite helped identify the mysterious source — a small, rocky object called 3200 Phaethon. Most meteor showers take place when debris left behind from a comet falls toward Earth, burning up in the atmosphere on the way down. The result is what we call a shooting star.

A meteor shower is when we see many shooting stars in a short amount of time. This year's Geminids meteor shower will have between 60 and 80 meteors, or shooting stars, an hour.

But, unlike normal meteor showers, 3200 Phaethon is not a comet, but an asteroid. Of the 12 meteor showers that took place this year, only one other came from asteroids, according to American Meteor Society.

The three important differences between asteroids and comets are:

  1. Asteroids are located in the asteroid belt between the planets of Mars and Jupiter. Most comets are farther from Earth, beyond the orbit of Pluto.
  2. Asteroids are made of metals and rocky material. Comets are made of ice, dust, rocky materials and organic compounds.
  3. When asteroids move close to the sun, they retain most of their material whereas the ice in comets tends to melt and vaporize leaving behind a dusty trail that then leads to meteor showers like Orionids, which come from the tail of the famous Halley's comet.

geminids meteor showerDespite asteroids keeping most of their material to themselves, the Geminids is one of the most spectacular meteor showers of the year because there is so much debris falling to Earth, Cooke explains.

"Of all the debris streams Earth passes through every year, the Geminids' is by far the most massive," Cooke said. "When we add up the amount of dust in the Geminid stream, it outweighs other streams by factors of 5 to 500."

The reason for this is a complete mystery.

In 2009, a pair of planetary scientists at the University of California, Los Angeles tried to solve it, but ultimately found more questions than answers.

geminids meteor showerWhen the asteroid was extremely close to the sun, about half between the sun and Mercury, the two scientists noticed 3200 Phaethon temporarily shone twice as bright as usual. The explanation the two scientists, David Jewitt and Jing Li, came up with was that the asteroid must have ejected lots of dust.

A large cloud of dust would scatter sunlight, making the overall object appear much brighter. The dust must have been the result of rocks breaking apart from the asteroid due to the sun's intense heat at such a close distance, a phenomenon that Jewiit and Li called a "rock comet."

There was one problem with their rock comet theory, however: The amount of dust this incident added to the asteroid's debris stream was completely insignificant — about 0.01% of the total stream's mass, which was not nearly enough to explain the spectacular light show we see each year.

One reason Jewiit and Li proposed was that rock comets might have been more catastrophic in the past, spewing the tremendous amounts of rock that today make up the 3200 Phaethon debris stream.

"We just don't know," Cooke said. "Every new thing we learn about the Geminids seems to deepen the mystery."

For more information on rock comet and 3200 Phaethon, check out the NASA ScienceCast below.

SEE ALSO: Astronomers Are Getting Ready To Take The Image Of The Century

SEE ALSO: These Incredible Images Show What Humanity Will Look Like When We Colonize The Solar System

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