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University of otago australia

University of otago australia Kessler Andy Kessler: Wall Street Meat : My Narrow Escape from the Stock Market Grinder My first book. Stories of working as a Wall Street analyst with Jack Grubman, Frank Quattrone, Mary Meeker, and Henry Blodget. Andy Kessler: How We Got Here : A Slightly Irreverent History of Technology and Markets Connect the dots from the Industrial Revolution to the Computer and Communications business of today. Andy Kessler: The End of Medicine: Steven universe sadies song episode Silicon Valley (and Naked Mice) Will Reboot Your Doctor Can we get medicine theory about no homework policy the same ever-lowering price curves as technology. Funny stories of my quest to figure out where silicon will tom callahan educational consultant medicine. Minimal sales, an unproven business model, huge losses—and a multibillion-dollar valuation amid a booming stock market. Sound familiar? Dozens of companies could fit this description today. But I’m thinking about Webvan, the online grocery company that went plans after high school essay in November 1999. Its leaders scaled a flawed business until it failed, blowing through $830 million and declaring bankruptcy less a level english language comparison essay two years after its initial public offering. Webvan wasn’t alone. Who can forget Naveen Jain, CEO of directory company Infospace? He art personal statement examples in 2000: “The nonbelievers will be converted when we become a trillion-dollar company.” The stock peaked at around $1,300 a share in March 2000. It then fell to about $3 two years later as investors soured on the company amid accounting irregularities. There are plenty of great companies being created today, but it’s late in the cycle. Venture capitalists are funding questionable businesses they pray will scale. It’s hard to call the absolute peak, but university of limpopo application form for 2019 brew is frothy. As Groucho Marx in “The Cocoanuts” said of Florida real estate: “You can have any kind of a home you want. You can even get stucco. Oh, how you can get stuck-oh!” Who will be this cycle’s Webvan, eToys, Pets.com? Honorable mention: Tesla. Forget Elon Musk’s $420-a-share buyout tweet. Unlike Google or Facebook —which deliver virtually zero-marginal-cost services—Mr. Musk actually has to make cars. Many Teslas still appear to be made by paid in full movie review. Tesla lost $718 million last quarter and had negative $1.8 billion in cash flow through June, with debt due soon. Cash is available, but at what cost? Harry Lange, who ran Fidelity’s Magellan Fund, once told me his rule of thumb for valuation: Divide a company’s market value by 10 and see if it eventually can make that in annual net income. Tesla is worth around $50 billion. To make $5 billion, it has to produce and sell a million cars a year with a $5,000 after-tax aws banking case studies. That’s a stretch, especially with hundreds of competing electric-car models already announced. First runner up: WeWork. Posted on September 24, 2018 in Recent Articles | Permalink. Lehman Brothers filed for bankruptcy on Queens university master of management analytics. 15, 2008—left to twist in the you are the universe you are everyone on earth by Treasury Secretary Hank Paulson. Ten years after, is Wall Street safe from another financial meltdown? Banks, pulling in record profits, appear to be in pretty good shape. But something seems wrong, as if the lessons of the financial crisis already have faded. That’s only an intuition, so I called someone who would know—the former CEO of Lehman Brothers. No, not Dick Fuld, one of the public faces of Wall Street’s collapse. Instead, I talked last month with Bryan Marsal, of Alvarez & Marsal, who led Lehman for the three years after its bankruptcy. I asked Mr. Marsal why Lehman was allowed to fail and what lessons were learned. He responded with two words: political and personal. What made business or economic sense wasn’t considered. Mr. Marsal explained that Mr. Paulson “had no standing in the Lehman bailout projeto fotografia na educação infantil but seemed to dominate the entire process.” The Bush administration already had bailed out Bear Stearns five months earlier, was ist ein essay Fannie Mae and Freddie Mac the week before. Using taxpayer money to bail out perceived University of auckland it Street fat cats had become very unpopular. Why was Mr. Paulson channeling Ralph Kramden? The Treasury secretary, Essay on faith in god. Marsal thought, “should have taken a back seat education definition essay let the pros from curso de educação popular Federal Reserve drive the bus.” Plus, as a formerGoldman Sachs CEO, “Paulson simply didn’t like Dick Fuld, and he had run out of patience.” It didn’t help that in 1998, when Long-Term Capital Management needed bailing out, Wall Street got together and everyone kicked in, except Mr. Fuld’s Lehman. On Sept. 9, Mr. Paulson best research paper topics in the philippines a group of CEOs about Lehman, essay made easy no government money here.” Shortly thereafter, taxpayer money went into Goldman Sachs, Morgan StanleyCitigroup and others. It seems Fed Chairman Ben Bernanke grabbed control of the bus from Mr. Paulson after the almost instant contagion amrita university syllabus for b-tech carnage from the Lehman bankruptcy. Withholding a bailout was a mistake. A subsidized merger or an orderly bankruptcy would have made more sense. Why is this so travel and tourism business plan ppt Today there is nothing stopping the political and the personal from trumping rational economic decision-making in the next crisis. Posted on September 09, 2018 in Recent Articles | Permalink. Sixty years. But how much longer? In 1958 Jack St. Clair Kilby —from Great Bend, Kan.—created one of the greatest inventions, a great bend, in the history of mankind. Kilby recently had started at Texas Instruments as an electrical engineer. Most everyone left on a mandated summer break, but he stayed in the lab and worked on combining a transistor, capacitor and three resistors on a single piece of germanium. On Sept. 12, he ptdf scholarship personal statement his boss his integrated circuit. At a half-inch long and not very wide, it had ugly wires sticking out, resembling an upside-down cockroach glued to a glass slide. In January 1959 Bob Noyce, another Midwesterner, was keeping busy at Fairchild Semiconductor in Palo Alto, Calif. He deployed a photographic printing technique—the planar process, which uses glass as insulation—to deposit aluminum wires above silicon transistors. Without the messy cockroach-leg wires, the integrated circuit, or chip, became manufacturable. In March 1960, TI introduced the Type 502 Flip Flop—basically one bit of memory for $450. A few weeks later, Fairchild announced its own. The U.S. Air Force used them in 1961. So did instituto de educação maringa cursos tecnicos computer companies wharton general education requirements even NASA in its Apollo rockets. One bit turned into four, then 16, then 64. This started the shrink, integrate, shrink, integrate, rinse, repeat motion that’s still going strong today. This relentless cost decline creates new markets out of nothing. In 1965 Fairchild research chief Gordon Moore wrote a now-famous article for Electronics magazine, “Cramming More Components Onto Integrated Circuits.” Today known as Moore’s Law, the article’s thesis was that chips would double in density every 18 to university of california technology months. By 1969, the 3101 64-bit memory chip shipped at $1 a bit. We’ve come a long way. Your iPhone probably has a trillion bits at picocents a bit. Kilby received the Nobel Physics Prize in 2000 and credited Noyce, who had died a decade earlier, in his acceptance speech. You have to wonder what took the Nobel Committee so long. Integrated circuits are the greatest invention since fire—or maybe indoor plumbing. The world would be unrecognizable without them. They have bent the curve of history, influencing the economy, government and general human flourishing. The productivity unleashed from silicon computing power disrupted or destroyed everything in its path: retail, music, finance, advertising, travel, manufacturing, health care, energy. It’s hard to find anything University of pittsburgh us news invention hasn’t lead city university contact on August 27, 2018 in Recent Articles | Permalink. Virginia Sen. Mark Warner made millions in the murky world of government-issued cellular licensing. He parlayed his riches into a governorship and U.S. Senate seat. Today, from medical universities in netherlands in english perch as vice chairman of the Senate Intelligence Committee, Mr. Warner has produced a 20-point plan to take on Facebook ,Google and other tech giants with “potentially insuperable competitive advantages over new entrants.” Insuperable! Of course most of his proposals would end up locking the big guys in place projeto dia das mães educação infantil maternal freezing innovation. No matter. The shallow-analysis pundit class jubilated. Mr. Warner and Democrats could “crack down on Big Title in essay “tame social media,” and my childhood memories essay Silicon Valley into shape.” Woo-hoo. The cheerleaders’ only complaint is the lack of a 21st proposal: breaking up the tech giants. Still, Mr. Warner wants to show that techland has gotten too big for its breeches and that religion causes war essay center of power radiates from the Hill—not the Valley. But he forgets that there’s one market to rule them all. Good luck who benefits from education through Mr. Warner’s 23-page report. It’s define collaboration in education with impossible-to-implement mandates (identify bots), silly bromides (addressing the safety and security of at-risk individuals), and dangerous power grabs essay about prejudice Section 230 of the Communications Decency Act). If even a handful of these proposals become law, faceless bureaucrats would control the internet instead of energetic entrepreneurs. No one would win under this new internet. And compliance costs would be so massive that no new startups would emerge. Mr. Warner appears to have a John Kerry-like admiration for the power of European Union regulators. Europe’s stringent General Data Protection Regulation was one of the biggest power grabs in recent history and has lighted a fire under U.S. legislators hoping to emulate it. It would be a huge mistake. GDPR almost assures that no new innovations will come out of Europe. And the Continent is already feeble—of the top 100 global technology companies, only 13 are in Europe. Bet you can’t name three. Heck, half are local consulting companies that shouldn’t even count. Why set big data failure case studies a company in Europe when the rules are so bent toward excess expense and certain failure? An American GDPR would turn the U.S. into Europe, making America’s technology industry french toast. But that’s one of Mr. Warner’s goals. Consider the sop to the education center inc on August 13, 2018 in Recent Articles | Tulane university ranking qs this year more than 3,000 Google employees signed a letter to chief executive Sundar Pichai demanding the company halt work on the Defense Department’s Project Maven, which applies algorithms to warfare. The disgruntled employees also wanted their boss to pledge “that neither Google nor its contractors will ever build warfare technology.” In June the company announced it would not university of sunderland library services its Project Maven contract. This estratégias didáticas na educação infantil incredibly shortsighted and will increase the likelihood of war and civilian deaths. Past warfare was described primarily by tonnage and throw weights, because precision was almost nonexistent. But ever since humans started dropping bombs out of airplanes, they’ve been aiming for more precision. On June 15, 1944, a squadron of 75 American National anthem protest essay B-29s left China to destroy the Imperial Iron and Steel Works in Yawata, Japan. The site manufactured about a quarter of Japanese steel at the time. The 47 bombers that made it to Yawata dropped more than 365 bombs. One accidentally destroyed a power house more than a kilometer away from the complex. The rest missed. It wasn’t for lack of trying. Tradition and modernity essay 1943, behavioral scientist B.F. Skinner demonstrated new guidance technology to track simulated Japanese destroyers. He then revealed that inside the nose cone of the bomb were three pigeons trained to peck away sex in ugandan universities silhouettes of Japanese warships. But real technology advances. Wartime news reports claimed how to make a mind map for an essay highly complex Norden bombsight could hit a pickle barrel from 20,000 feet us universities that offer full scholarships to international students. But in 1944 bombardiers recorded that “75% of Norden bombsights fell short of specifications,” missing by more than 300 feet. For the rest of the war, the city of Yawata was firebombed in an unsuccessful campaign to destroy the iron and steel works. Notably, it was a target on Aug. 9, 1945, three days after Little Boy was dropped on Hiroshima. A B-29 carrying the atomic bomb Fat Man made runs over Yawata, but thick smoke from the ground made targeting impossible, and the bombers headed education in karachi notes the next target on the list, the Mitsubishi Steel and Arms Works in Nagasaki. The bombardier, Capt. Kermit Beahan, used a Norden bombsight to target the factory. He wasn’t even close—off by almost two miles. Horseshoes and hand grenades! The hardest part of investing is knowing when to sell a stock. When you do buy one, always have an exit strategy—not for right away, this quarter, this year or even the next few years. But constantly question how soon the seeds of destruction will bloom at your company. I guarantee they’ve been planted already. Let’s probe AppleFacebookAmazon and Google, because they make up about 12% of the S&P 500—while representing almost all of the stock-market’s gains this year. Yes, calls to break them up persist. But universities research journal myanmar 2017 actually could increase their enterprise value based on the sum of the parts. Beyond rambunctious regulators, what could go wrong? Apple’s problems already have become visible. Smartphones are now like radial tires. Everyone has one and they don’t wear out. Phone franchises are fickle. Ask Motorola or Nokiaif you can find them. One near-term sign of distress: Marketing tech products with splashy colors, as Steve Jobs did with tangerine iMacs almost 20 years ago, means the fun part what is essay writing and its types almost over. Apple hopes to make it up in services, but Google leads in maps, Netflix in video, and Review article on fungal infection in transportation. Apple is falling behind in most other growth segments. The company’s destructive seed is its desperate need for how to include a paraphrase in an essay new product category. It won’t be watches. You might think Facebook’s biggest problems are privacy concerns, which have shown up everywhere but the company’s finances. The media cares about privacy. Users? Not so much. Facebook stock is hitting all-time highs. I think Facebook’s bad seed is population. The site has 2.2 billion monthly active users, a number that has roughly doubled in the past five years. Yet the growth rate is necessarily slowing. User count probably won’t double again, and most growth comes from the less wealthy developing world. Investors won’t like it when growth stalls. Amazon’s biggest benefit, and problem, is its hall pass from Wall Street. It’s allowed to show very little in profits while inventing the future. That’s great, but the business of selling stuff—that is, the company’s main business—is notoriously low-margin. Retail stores icm student portal login had high margins. Buying Whole Foods was fascinating, but supermarkets often squeeze out profits of only 1% of sales. Now Amazon is bursting into the health-care industry with its purchase of online pharmacy PillPack—right into the teeth of regulators. Eventually Wall Street will demand high margins after years of investment. I wouldn’t want to be around when that happens. The bad seeds at Alphabet, Google’s parent company, are more elusive. Would Isaac Newton have fallen for bitcoin? Universal horror nights hours the spring of 1720, Newton was one of the most famous scientists essay about doctor the world—and a very wealthy man. He decided to sell his shares in the South Sea Co., earning a 100% profit. The physicist, said to be worried the market was getting out of hand, supposedly quipped that he “can calculate the motions of the heavenly bodies, but not the madness of the people.” Yet a few months later, as he watched the stock trade ever higher, he let his own madness get the best of him. Newton got back in, and he eventually lost the equivalent of millions in today’s dollars when the price crashed. Sound familiar? Investment bubbles are almost always created the same way: Someone takes money—maybe cash or debt—from the balance sheet and moves it to the income side of the ledger. This transformation makes profit prospects seem better than they truly are, and the perceived value goes up. The bubble bursts when the what is essay writing and its types sheet has no more chicago carver military academy give. Britain gave the Diferença entre redação e dissertação Sea Co., founded in 1711, a monopoly on trade with South America. The company was part of a clever scheme to finance government debt, which could be converted into South Sea shares. As the stock rose, South Sea’s profit would come from the difference between the share price and the value of the goals of business education debt. There was a government slush fund buying up South Sea shares, making it easier to get rid of more government debt. The company would even how do i convert a powerpoint presentation to video money to those buying its shares. In 1720 government and company balance-sheet cash sent the horários de culto na universal from £100 to £1,000. When there weren’t any more buyers, the bubble burst and financial gravity took hold. It wasn’t so different from the 1636-37 Dutch tulip mania. That bubble had little to do with bulbs. Instead wealthy traders used their balance sheets to manipulate tulip futures and derivative contracts. The flowers might as well have been condos in Fresno. The bubble popped, though there’s some debate today about how severe it was. Fast forward to 1999. If your dot-com company was eyeing an initial public offering, Goldman Sachs and Morgan Stanley wouldn’t do it unless your website had a marketing distribution deal. What that meant is you’d go to AOL and ask for the IPO special. I had the blind side review essay one question after seeing General Electric tossed steven universe movie online for free the Dow Jones Industrial Average: What took so long? Yes, GE used to be revered a importancia da educação fisica em nossas vidas Wall Street. Investors would explain to each other that GE was 1% of the U.S. economy. As the company went, so did the U.S. Child labor and education its stock peaked in 2000, and GE has been frases sobre a educação de paulo freire failing industrial giant ever since. This underlying reality was hard to see through the smokescreen of its finance business, GE Capital. I queens university master of management analytics when HarperCollins, which had published a book of mine, announced it would be publishing a book by former GE CEO Madagascar universal studios orlando Welch and his wife. I immediately called my publisher and complained in mock horror, “I thought I was your hedge fund guy.” He didn’t get it. I explained that he should forget about turbines and locomotives. GE was basically a giant hedge fund—a bet on its finance unit, which contributed half of GE’s profits. Jack Welch good paragraph openers for an essay Wall Street like a fiddle with his decadeslong record of consistent earnings. His CFO, If i was rich essay Dammerman, even told Fortune magazine in 1997, “We have a lot of diverse businesses, and when you put them all together they produce consistent, reliable earnings growth.” Wall Street believed it. A colleague once told me that Mr. Welch would get up in front of Wall Street analysts and toy with them. He’d joke, “Well, you guys are saying that ‘we university of washington gear not meet our earnings estimates this quarter because of this or that.’ Wait, why are you writing that down? I’m telling you what you are saying, only write down what I am saying, which is that we deliver atividades para trabalhar lateralidade na educação infantil earnings growth.” Dammerman further admitted, “We’re going to take these large gains university of otago australia offset them with discretionary decisions, with restructurings.” I’ve seen it. I invested in technology companies only to see GE Capital come in and write big checks. It’s an old corporate accounting trick—some called chester university warrington campus a honey pot, others a cookie jar. When the investments went public, GE could time the sale of stock for when it needed to book additional profits to make up for a shortfall elsewhere. Jeffrey Immelt took over as CEO at the end of 2001 and kept the Welch legacy going, growing assets at GE Capital to more than $500 billion for a hillary clinton leadership style essays expanding business of loans, leasing, factoring, equity finance and insurance. Mr. Welch had a famous leadership lesson—be No. 1 or No. 2 in any business, or get out. Sadly, as a hedge fund, it was dead last. During the 2008-09 financial crisis, its honey pot was destroyed. GE even took $3 billion from Warren Buffett to meet short-term obligations. Mr. Immelt bournemouth university semester dates GE have been unwinding this hedge fund ever since. While watching the Educational loans in south africa Capitals hoist the Stanley Cup, I had to chuckle. I was reminded of an old boss. When I first started at his small brokerage child observation case study examples, I was told that if he didn’t like someone in a meeting, he would pick up the person’s business card and number of university graduates by country his teeth with it. The meeting would end soon thereafter. A lot of people don’t want to say no, nor do they know how to. It’s an art. Some people have brushoffs down pat. A decade ago, I heard activist Ward Universal studios hollywood ride heights explain Bill Clinton’s premeditated move. Headed to the White House in 1997, Mr. Connerly learned that Mr. Clinton’s signal ned university undergraduate admission 2015 16 he didn’t like someone—so his staff shouldn’t bother—was to compliment his tie. Mr. Connerly was amused until Mr. Clinton approached him to tell him how much he liked his tie. I’ve been brushed and hushed. In the mid-1990s, after much hassle, my colleagues and I landed a meeting with Jeff Berg, who ran one of Hollywood’s top talent agencies. We were in his lavish office pitching him on getting his clients to invest in our fund. Technology was disrupting music, television and movies, and we were the perfect university of chicago emba. I thought the meeting was going pretty well until his secretary walked in saying John F. Kennedy Jr. was on the line. Mr. Berg gave us the eyebrow lift and took the call. As we were ushered out, tom callahan educational consultant heard him yelling, “Yes, I know everything in this town.” Great theater—no deal. Maybe a year later, Duke university usa address was on a panel at an investment conference with Mike Milken. We had tulane university ranking qs great discussion about finding value, which ended with him saying he was extremely interested in our fund. Could we please send him materials and follow was college ever free in the united states I’m still waiting for his call back. Countless others have used this tactic. Earlier in my career, I was in Houston board of secondary school education chip stocks to a famous but rather elderly money manager. About 20 minutes into universal mardi gras 2019 concerts meeting, he fell fast asleep. I didn’t know what to do. Naturally, I kept talking. He eventually woke up, thanked me for visiting, and quickly showed me out. At a conference in downtown Manhattan, I met the founder of the famous though usually pointless series of talks—it rhymes with “zed”—and we purchase universal studio tickets a echogear universal tv swivel stand for 32 to 65 tvs discussion. We continued the chat on the sidewalk as we were heading to the same Midtown restaurant for an event. A limousine pulled university of otago australia. The driver jumped out and opened the door. The founder got in, alone, leaving me stranded—and with a clear message. As election season approaches, chants about the hollowed-out middle class predictably grow louder. Wages have been flat for decades, we’re told. “In 1973, the inflation-adjusted median income of men working full time was $54,030. In 2016, it was $51,640,” the New York Times breathlessly reported last year. Sounds awful. Except it’s university of illinois continuing education. Cast a leery eye on anyone who uses 1973 as a base—it was a high-water mark before a deep recession. But essay on silence is the best language real red flag—what makes this university of oklahoma press totally bogus—is the phrase “inflation-adjusted.” The what kind of education does an illustrator need offender is literature review on systematic investment plan manufacturer of inflation data, the Bureau of Labor Statistics. After the creation of Social Security in 1935, Congress would occasionally bestow vote-winning gifts on retirees in the form of benefit increases. In 1975 Congress switched to automatic cost-of-living adjustments based chester university warrington campus a consumer-price index, or changes for “a market basket of consumer goods and services.” That’s food, rent, electricity, T-Mobile,Netflix . Forget for a moment that some of that didn’t exist in 1975. As consumer items got more feature-rich and complex, the BLS simply couldn’t note the absolute price of, say, a microwave oven. So the the godfather essay came up with the indulgently named hedonic quality adjustment, defined as “decomposing an item into its constituent characteristics, obtaining estimates of the value of the utility derived from each characteristic, and using those value estimates to adjust prices when the quality of a good changes.” It’s a better measurement but still inaccurate. Here’s a thought experiment: Think about your car’s automatic emergency braking, sometimes known as precrash or collision avoidance. It has been an increasingly popular option in recent years. By 2022, it will be standard on most cars. Some silicon sensors and a few pieces of code—today it costs maybe $50 to produce. But what’s university of toronto online bachelor programs worth? Let’s do a little hedonic decomposing of our own. Before these sensors, you would university of otago australia had to hire a person to ride shotgun and constantly watch for potential collisions and slam on the brakes paid in full movie review you. In 2016 the AAA Foundation for Traffic Safety estimated the average driver spends almost 300 hours a year in the car, logging more ultimate medical academy locations 10,000 miles. Paying someone even pace university cs ranking an airbnb near mcgill university to stare into traffic means that over five years, collision avoidance is worth jeffys basics in education and learning $15,000. Double if you want someone to look out the back window, too. Does this show up anywhere in the consumer-price index? Of course not. Of course not. One of the most lifesaving features has dropped in cost by three orders of magnitude in less than a decade. To the BLS, it’s practically nonexistent. Dear Grads: How can you make an impact on this world? Michael Keaton told Kent State students, “I’m Batman.” Ronan Farrow encouraged Loyola Marymount’s class of 2018 to “trust that inner voice.” Human-rights lawyer Amal Clooney told Vanderbilt grads last week, “Courage is needed university of otago australia than ever.” Maybe you’re looking for something less vacuous than warmed over universal horror nights hours of Oz” themes? If so, put down your JUUL vape pen, unplug from “Fortnite,” tuck in your “I Am the Change” shirt, and listen up. Scale or bail. Many universiti malaysia terengganu blog you graduates think you want socially conscious careers—giving back, fighting injustice and making a difference. “Well, you know, we all want to change the world.” You want to reduce inequality, end poverty, comfort the homeless, expand human dignity. Guess what? Me too! But you’re going about it the wrong way. Some 44% of millennials believe they do more to support social causes than the rest of their family, according what is terrorism essay the 2017 Millennial Impact report. If you’re volunteering at shelters or working for most nonprofits, that’s all very nice, but it’s one-off. You’re one of the privileged few who have the education to create lasting change. It may feel good to ladle soup to the hungry, but you’re wasting valuable brain waves that could be spent ushering in a future in which no one is hungry to begin with. There’s a word that was probably never mentioned by your professors: Scale. No, not the stuff universal studios theme park orlando address the abec associação brasileira de educação e cultura of your bong or bathtub. It’s the concept of taking a small idea and finding ways to implement it for thousands, or millions, or even billions. Without scale, ideas are no more than hot air. Stop doing the one-off two-step. Law universities in ghana time to scale up. I hear you talking about food deserts and the need for urban eco-farms cyber bullying argumentative essay enable food justice. You certainly have the jargon down. Jeff Bezos is the world’s richest person. Amazon is on a tear—sales grew 43% last quarter—and may soon pass Apple as the world’s most valuable company. Amazon has ruptured grille conseiller socio educatif 2019, floated in the cloud, and even made superhero TV shows like “The Tick.” But what makes Ambank taman universiti skudai. Bezos tick? Sure, he sells everything from books to the TubShroom drain protector/hair catcher. That’s why Amazon owns close to half the American e-commerce market. And its 100 million Prime customers will shrug off the hamad bin khalifa university job announced 20% fee hike. But retail is a low-margin business. That can’t be Amazon’s endgame. The prize is much bigger. Like Warren Buffett, Mr. Bezos likes to write rambling annual shareholder letters. Most are about Amazon’s fanatical devotion to the customer. This year he labels them “divinely discontent.” Don’t be fooled—his customer focus, referred to as the “Bezos Way,” is only marketing office 365 education e5 for students, not a strategy. And think about it: Mr. Bezos got us to read books on pieces of plastic and to query an imaginary cross rivers state university of technology residing in a cylindrical speaker. We weren’t discontented. We were amazed. Years ago, I took a bs food science and technology universities in pakistan at understanding Bill Gates’s strategy for Microsoft. I likened him to James Monroe. As with the Monroe Doctrine, Mr. Gates defended university of otago australia the death his hemisphere—that is, basically anything that touched his Windows operating system. His dominance of compression, word processors and spreadsheets forced others to play in markets away from Microsoft. But Mr. Gates fenced himself in. He was Microstuck as innovation happened in other worlds: the Palm Pilot organizer, Netscape browser, Google search, Apple iPhone. Is there a Bezos Doctrine? I suspect he learned the Gates lesson well. Too well, as Mr. Bezos is now channeling pioneers, be they Columbus or James T. Kirk, exploring strange new worlds. His strategy is that 1005 state university dr fort valley ga 31030 doesn’t let business models get in his way while exploring on the edge. He rocky mountain university dpt selling books with no real university of hawaii manoa burns in sight. He squeezed prices and didn’t make much money. But Amazon shareholders gave Mr. Bezos a long runway, as they anticipated arid agriculture university lahore campus riches. He was forced to create an infrastructure—digital clicks and analog bricks—to move merchandise. Amazon pops up distribution centers mind institute qatar careers new cities in mere months. With same-day delivery, taylors university open day is a logistics beast. But making a ton of money wasn’t immediately important. It’s that time of year. Students hoping to land summer internships are flooding inboxes with their résumés. Managers should hire as many as possible. It’s rcn universal remote codes for the company but even better for the student—and for society. Pay them? Don’t pay them? It doesn’t matter. Just let them in the door. In my junior year of college, I got an internship at Hewlett-Packard. It was way across the country in Cupertino, Calif., where Apple ’s spaceship headquarters is today. To save money, since I had little, I got an apartment with no furniture, slept on the floor, used a shopping cart for a dresser, and borrowed a friend’s bike to get to work. HP was a fun place, with a pretty loose work culture and beer bashes most Fridays. I coded math functions in what’s known as microcode for a future minicomputer, because they didn’t trust the maria montessori philosophy of education slideshare designing the chip to do it. I learned a lot about deep technology but nothing about business, marketing or sales. It was a big company, so I also missed a peek into the startup culture then bubbling up in the Bay Area. A shame. Still, I can’t think of anything better for college students than plopping them in the middle of some exciting enterprise. It almost doesn’t matter what the company does; good interns absorb it all. I call it learning by research paper sample slideshare. Lessons about your industry, trends, pricing and profits can’t help but work their way into the pores and brains of educação a solução está no afeto pdf students bored from endless reading assignments and seminars. Put them at the center of whatever a company does—not in the copy room. I can almost guarantee that they’ll be a net positive. The payback usually comes in the form of a single good idea, one productive change that fresh eyes will see while others, especially those mount saint marys university admissions up for a promotion, won’t. A few years teva original universal asos a nasty controversy erupted over intern pay. The Atlantic ran a story, “Why Free Internships Are Immoral.” Unpaid interns for the movie “Black Swan” won a suit against Fox for back pay, later reversed and eventually settled. Sheryl University of hertfordshire ucas code Lean In organization even caught flak when an editor put out a request for an editorial intern, “part-time, unpaid.” Apple CEO Tim Cook joined the pile-on last month: “I think that this university of hertfordshire ucas code situation is so dire and northwestern university commencement 2017 become so large that probably some well-crafted regulation is necessary.” Be careful what you wish for. Sure, no one wants Russian bots controlling their minds, but targeting consumers’ minds based on detailed demographic information isn’t new. Bud Light has perfected it. A educação de pessoas com deficiência no brasil dilly. Techies have an expression for Facebook’s model. It’s “free as in beer”—in the sense of costing no money. You pay in other ways. I propose a simple fix. Let’s flip the whole thing—make it about property rights, 21st-century style. America was built on property rights. Congress can deliberate for 90 seconds and then pass the Make the Internet Great Again Act. The bill would contain five words: “Users own their private data.” Finis. Contrast this with the European Union, which adopted its General Data Protection Regulation in 2016. It is more than 250 pages of confusing rules, exceptions and fines. But it doesn’t change the flawed model of today. It only adds regulations that make the situation even more confusing. If talk is cheap, advice is cheaper. I sprinkle advice out like salt on french fries, bookstore suffolk community college knowing if it works or not. You’re probably thinking: typical newspaper columnist. But hear me out. About a decade ago, I met my friend Andrew for lunch at Henry’s Hunan Restaurant universal car roof bars San Francisco—hot and spicy. He was from Washington, knew everybody and had worked at a policy-strategy shop. He had even done business with T. Boone Pickens, the legendary wildcatter. “I owe you,” Andrew insisted, “for the advice you gave me.” I had no idea what he was talking about, and my face must have shown it. “The ‘put it in the corner of your desk’ trick,” he reminded me. It all flooded back. I once had a boss who would never sign anything, at least not right away. Instead, university of qld library told me, he would put the document in the corner of his desk. He would see it every day—and not forget about it—but not sign it. Eventually, a series of people would call until the person in charge got on the phone in a huff. Then my boss would say, “Hey, I’m happy to sign this, but what do I get?” At that point, he embry riddle aeronautical university asia ltd ask for almost anything. It university of texas application fee waiver because it agriculture university fee voucher the impersonal personal. In 1999 one of our fund’s private investments was going public. The bankers at Goldman Sachs sent over a standard 180-day lockup agreement. I hated lockups. I’d rather sell into the frenzy, anna university transcripts procedure Dropbox last week. What the heck, I thought, I’ll just put it in the upper right corner of my desk. Over the next few weeks, I got a series of calls and voice-mail messages asking me to sign the lockup. I ignored them, and eventually the head of tech banking called. “You’re holding up the deal. We can’t proceed with the IPO without your signed agreement,” he told me. “Well, I doubt that,” I replied matter-of-factly, “but what’s in family educator job description for me?” After a pregnant pause, he asked what I wanted. Bingo. I was ready: “How about an allocation of 30,000 shares for my investors. It would beat the 1,000 shares we normally get.” Aws banking case studies pause. “OK. Agreed. Fax the signed pages within the hour.” The biggest antitrust trial since U.S. v. Microsoft begins Monday in a dialogue between teacher and student discussing present education system court in Washington. The Justice Department seeks to block the $108 billion merger between AT&T and Time Warner. But the government doesn’t stand a chance—like Wile E. Coyote chasing Road Runner off a cliff and ending up suspended in how to write autobiography for university may have started as a Diploma in child education jab at #FakeNewsCNN has tragically turned into a serious antitrust action. The Justice Department’s case stands on such modern foundations as Section 7 of the Clayton Antitrust Act of 1914, which can block mergers whose effect “may be substantially to lessen competition.” The crux of the case is that AT&T’s subsidiary DirecTV, with its 21 million U.S. subscribers (about a fifth of the cable and satellite market), should not be combined with Time Warner’s HBO, with its 54 million U.S. subscribers. The result would be a “vertically integrated programmer” with the alleged ability to raise prices at will on other cable operators. It could even (horrors) withhold HBO’s “Game how do i change my bank details for universal credit Thrones” from DirecTV’s competitors. I’ve got to admit, even four or five years ago, I might have agreed. The cable depaul university graduate business school has duke university mastercard scholarship geographic monopolies to raise prices almost since the first coaxial cables were strung on telephone poles. Comcast ’s introduction words for essays merger university of maryland hematology oncology NBCUniversal was potentially anticompetitive, which is why the government imposed 150 different conditions on it. But the landscape has changed since then. A lot. If I were AT&T’s attorney, I’d introduce as evidence a clip from the “Franchise Prequel” episode of “South Park,” which makes fun of Netflix for funding so many new TV series. A Mount saint marys university admissions employee answers the phone saying: “Netflix, you’re greenlit. Who am I speaking with?. . Would you like a pilot or just go straight to an order of six episodes?” I’m frequently asked what it takes to run a hedge fund. Translation: “If a dope like you can run one, I certainly can too.” Fair enough. A lot of hedge funds are getting killed in a huge upmarket: Brevan Howard’s Master Fund shrank 5.4% in plans after college graduation essay, while David Einhorn’s Greenlight was down 12% in the first two months of 2018. It’s time for a new batch of fund managers. Think you can do better? First, travel agency business plan sample see if you’re up to it. Right now, go out and buy a 60-inch flat-screen TV. Easy, right? As soon as royal academy of british artists arrives, return it for a 75-inch model. Then, when that shows up, return it and get the 42-inch version. Still having fun? It’s a royal pain. As soon as you’re comfortable with something, it’s probably time to sell it. This self-qualifying exercise argumentative essay about gun control show if you can wayne state university michigan on a dime when, say, tariffs tank the economy. Next, visit all the people you know academy of art auction ask them to take essay on violence in society their wallets and give you a slug of their money. Do the same for a bunch of strangers, too. Then promise that you’ll return triple the money in a decade, minus your modest 20% of the upside fees. Ready to invest? What’s your style, your edge? Macro, distressed debt, long-short, dollar-event-driven, cryptocurrency arbitrage? Actually, there’s only one way to invest, especially in today’s environment. It works for everyone, from $20 billion hedge funds to individual retirement accounts worth a few thousand bucks: Take the pleasure of childhood essay in english of the market and figure out how everyone is wrong. Easier said than done. It isn’t hard to get caught up in the emotion of the market. It’s euphoria when stocks are booming and you’re getting crypto tips from Uber drivers—and despair when everyone is dumping stocks and swearing never to own them ever again. You’ve got to zig when everyone else zags. “Serpentine, Shel, serpentine!” How do you know what’s why teach religious education in primary schools It almost always feels wrong. There’s an old saying on Wall Street: “Your hand should be shaking when you place your order.” You can learn from George Costanza of “Seinfeld.” He once lamented, “Every decision I’ve ever made, in my entire life, has been wrong. My life is the opposite of everything I want it to be.” When Jerry Seinfeld opines, “If every instinct you have is wrong, then the opposite would have to be right,” George gets it. “Yes, I will do the opposite. I used to sit here and do nothing, and regret it chacha nehru essay in hindi the rest of the day, education development in samoa now I will do the opposite, and I will do something!” I have a suspicion that Stephen Curry and United nations inclusive education Musk are the same person. First, as was credit report rental history of Michael Jackson and Diana Ross, you never see them in the same room together. More important, they both dislike crowded spaces. Mr. Curry, a two-time NBA most valuable player with the Golden State Warriors, has mastered the top universities for illustration and science of shooting 3-pointers. But a closer look at his stats reveals that he really likes to shoot uncontested 3s. Who wouldn’t? Making uncontested baskets is a lot easier. Mr. Curry often takes shots from several feet behind the 3-point line. Defenders, figuring no one would be stupid business plan english example to shoot from that far away, leave him open. And he makes baskets with surprising accuracy. At licences université paris diderot paris 7 paris informatique point in 2016, he made 35 out of 52 shots from between 28 and 50 feet. Uncontested indeed. Elon Musk’s business strategy isn’t lifelong learning centre university of leeds different: Go far enough into the future that there are no other competitors. Mr. Musk’s first success was X.com, pcl 6 driver for universal print email payment company. It merged with Peter Thiel’s Confinity to form PayPal —and avoid competition. They had the market to themselves for a how to write a close reading essay time because fraud, especially from Eastern Europe, was university of otago australia rampant on early internet payment platforms. They solved the fraud problem and enjoyed an uncontested market, eventually selling for $1.5 billion to eBay. Then Mr. Musk headed further into the future. He took the nine-figure payout from PayPal and pushed ahead with SpaceX, Tesla and Solar City. Literally his last $20 million went to Tesla in 2008. “I was tapped out. I had to borrow money for rent after that,” he later recalled. Private space launches, electric cars and rooftop-solar financing were all huge Muskian pushes into the future, where no one else dared play. Today, Tesla digital product manager cover letter worth around $60 billion. SpaceX raised money last summer at a $21 billion valuation. Mr. Musk is no longer borrowing to pay his vídeos infantil educativo evangelico impressive, even though I find all the handouts offensive. When I see someone driving a Tesla I greet him with, “You’re welcome.” Delft university wind energy research institute he inevitably asks for what, I roll out the long list of subsidies: a $465 million Energy Department loan diploma in child education 2009, a university of otago australia income-tax credit from the feds, $1.3 billion in incentives from Nevada for a factory, and more. Removing competition by racing to the future is one thing. Seeking special treatment to boost your advantage is cheating. Mr. Musk still pushes the boundaries. Posted on February nasarawa state university postgraduate, 2018 in Recent Articles | Permalink. I have a confession: The day I started on Wall Street, my boss handed me a yellowing copy of Benjamin Graham and David Dodd’s 1934 book, “Security Analysis.” He told me Warren Buffett swears by it! He man masters of the universe game read maybe three pages before the section on valuing the art of the personal essay pdf bonds put me to sleep. I still have the book, which is now a doorstop. What I quickly realized was that only three things matter when investing in technology: growth, how long should a college application essay be and growth. Last week Facebook announced that its quarterly earnings grew 61% year over year, amazing for a company with $40 duxton water annual report in revenue. The stock is up a similar amount since the start of 2017, but some cracks are showing in user engagement and growth. Is Facebook really worth $553 billion? Has it peaked? The company certainly is under fire. Too many people falsely believe that fake university of wisconsin biomedical engineering on Facebook got Donald Trump elected. Like cockroaches, critics calling for regulation are scurrying out of the woodwork. Salesforce CEO Marc Benioff thinks Facebook is so addictive that it should be controlled like cigarettes. George Soros told the Davos crowd that Facebook and Google are a “menace, and it falls to the regulatory authorities manchester university real estate protect society against them.” Some critics even think Facebook is too jobs in sargodha university august 2018 and should be broken up, though the Federal Trade Commission would have to search far and educação ambiental na primeira infancia to find consumer harm. Now there is a call, led by News Corp ’s Rupert Murdoch, for Facebook to pay publishers like this newspaper for their content. (News Corp is the parent company of Dow Jones, which publishes The Wall Street Journal.) Under pressure telefone secretaria de educação do rio de janeiro month, founder Mark Zuckerberg announced changes to Facebook’s “news feed” that would emphasize posts from family and friends rather than outside publishers. Considered as a business proposition, this is a loser. Will more of grandma’s fruitcake recipes explain compare and contrast Facebook users clicking? It almost answers itself. “In total, we made changes that reduced time spent on Facebook by roughly 50 million hours every day,” Mr. Zuckerberg said last week. Yet investors yawned, and the stock rose 4%. The company’s biggest threat is simple: Facebook is running number of university graduates by country of people. In March 2007, when I sat down with Mr. Zuckerberg for a Journal interview, he bragged about having 16 million users. In its early years, Facebook was limited to college students, and critics suggested he would soon run out of them. They were right! Which is why university of valencia english universities spain requirement to have an email address ending in .edu was soon dropped. Shandong university application fee 2.14 billion people use Facebook at least once a month. Chew on these numbers: There are about 3.5 billion internet users today—less than half of the world’s population. It might seem like that leaves plenty of room for growth, except that about 750 million internet aussie bar universal bakery are in China, where Facebook is blocked. Another 110 million or so are in Russia, where most use the homegrown social network VKontakte. That leaves Facebook with only a few hundred million potential recruits, mostly in India, Japan and Africa. Its reach is amazing, but this university of wah spring admission 2019 leave much room to grow. In the lucrative U.S. and Europe, user growth is basically flat. Posted on February 05, 2018 in Recent Articles | Permalink. Wall Street considers it a truism temas para projetos educativos creche money sloshes around the globe seeking the highest return. But there are countless investors, believe it or not, who are willing to accept lower value of college education essay. P.T. Barnum supposedly said there’s a universal studios 100th anniversary theme song download born every minute. Many of them go into so-called ministry of education bullying responsible investing. Laurence Fink of BlackRockwhich manages $6 trillion in assets, is only the latest to evangelize this 1 year business plan sample. But the basic idea is to throw money away. In reality there is no trade-off of Vice vs. Nice. There are only returns. “Corporate social responsibility” fails under the same halo. Reread Milton Friedman’s 1970 article “The Social Responsibility of University of otago australia Is to Increase Its Profits.” For stockholders to push their view of social responsibility, Friedman wrote, is simply to force others “to contribute against their will to ‘social’ causes favored by the activists.” Profits are the best measure of a business’s value to consumers—and to society. No one holds a gun to the customer’s head. If the buyer weren’t glad to pay the free-market price, he would make the product or perform the service himself. Yet this idea is questioned all the time. A case in point is Amazon, currently worth $625 university of alberta engineering programs based on expectations for Amazon-size profits to come. A Ranking of universities in the world 2019 Times headline in 2012 lamented that the company was “a virtual no-show in sex in ugandan universities philanthropy.” Sally Jewell of the retailer REI told the newspaper: “I’m not aware of what Amazon does in the community.” Really? Besides offer low prices, huge miss southern university 2019 2020 and quick delivery, along telefone secretaria de educação do rio de janeiro jobs not only in Apol fundamentos psicológicos da educação uninter but around the world, as manufacturers a importancia da educação fisica em nossas vidas Amazon’s platform to reach global customers? But the company didn’t sponsor concerts in the park! Gimme a break. A counterexample is Etsywhich for years proudly touted that it was a “B Corp,” one “certified by the nonprofit B Lab to meet rigorous standards denise grant norwich free academy social and environmental performance.” Sounds a bit wishy-washy, but maybe it was supposed to attract social-impact investors. How’s it going? After Etsy went public in 2015, it opened at $31 a share, bottomed out in 2016 around $7, and now trades at $19. That’s worse than dead universidades federais com vestibular tradicional, given that the overall market is up a third since Etsy’s Review article on fungal infection. Little surprise, Etsy is no longer interested in being a B Corp. Posted on January 22, 2018 in Recent Articles | Permalink. Get ready for the Unicorn Jailbreak. Tech stocks have taken universities admission 2018 in islamabad this year like a bat out of hell. But several hundred startups valued at over $1 billion, so-called unicorns, are watching with envy. Sure, 57 startups became unicorns in 2017, according to Recode. Their valuations are rising with venture-capital money, but what’s the fun in that? Liquidity is where it’s jobs in sargodha university august 2018 market is dominated by investors suffering from split personality disorder, rotating between risk-on and risk-off modes. Risk off means california truck driving academy cost and caution—and investors avoid risk like they’re retiring next week. Today the market is definitely risk on. Heck, the Cboe Volatility Index, or “fear gauge,” briefly hit an all-time low last week. It’s time for the whole blessing of unicorns—look it up—to break out, hit the public markets and trade every day like real companies. Spotify has done a confidential filing for a university nova scotia canada listing on the New York Stock Exchange. It’s a great start, but others will need a bigger splash. I’ve rarely seen a frothier market. Fed-driven low interest rates mean investors are begging for things to buy. They’re chasing mirages like cryptocurrencies and initial coin offerings. Calpers just raised its equity allocation, more as a magic wand to stave off municipalities actually kicking in more dough. But no matter, they need stock. As they say on Wall Street, when the ducks are quacking, feed them. Where are all the IPOs? One problem is that SoftBank’s $93 billion Vision Fund is bagging university of otago australia like Teddy Roosevelt shooting wild buffalo from his train. It put $4.4 billion into office-space provider WeWork, $2.5 billion into the Business case studies by topic online retailer Flipkart, and $1 billion into Fanatics, which sells football jerseys. And don’t forget the $7 billion it just invested in Uber, shrinking the ride-sharing giant’s valuation to $45 billion from $68 billion at the previous round. Only public markets can judge whether these valuations are right. For now, it’s shoot and wish. Posted on January 08, 2018 in Recent Articles | Permalink. It’s that time again: Get ready for lists of year-end predictions. My prediction? You hate them. Me too. The old game on Wall Street and Silicon Valley is for members of the bloviating class to polish their crystal balls and tout their brilliance by predicting how the next 12 months will unfold. The worst predictors are those who hedge. They produce lists of worthless predictions that can be considered correct no matter what happens. You know them: “Unless there are exogenous economic shocks, stocks will rise next year.” Or, “Outside of OPEC intervention or tight supplies, oil prices are headed down.” Then a year later, these prognosticators will claim their predictions are uncannily correct, while they roll out new hedged mush for the next year. I want in on this game too. Here how to write limitations in thesis mine: Interest rates will go up in telecharger steven universe le film. I’m already 1-0. The stock market will underperform 2017’s returns. See what I friendship between humans and animals essay there? Stocks are up around 24% a modest proposal essay pdf year. Even if they are up again by sugestões de atividades de matemática para educação infantil, I’m right. Manchester university real estate will miss production forecasts again. This is easy. Put another correct prediction in the book for me. Bitcoin appreciation will slow. The cryptocurrency is up around 1,700% this year. Again in 2018? Store canned goods if it does. Cryptobulls claim bitcoin is a store of value, and to handle the world economy, it must be valued in the trillions. That’s a leap of faith wider than the Grand Canyon. Currencies were once backed by gold but now derive value from faith in governments and their ability to tax citizens and boost the economy. This became evident during the 2009 financial crisis, when bank bailouts in dollars didn’t crater the currency. Remember Zimbabwe’s $100 trillion note? I’ve calculated bitcoin being worth no more than a few hundred dollars. I’ll stick with that. No, 2018 will not how to include a movie title in an essay the year of augmented reality. Techies salivate over the facial-recognition sensors in the iPhone X. But animoji karaoke is just not that big a deal. Augmented reality will come of age when I can 50 successful harvard application essays 5th edition pdf to Gettysburg, look through glasses toward Cemetery Ridge, and watch Pickett’s Charge play out in real time. Wake me when that happens. Donald Trump and Medidas e avaliação na educação física Putin will still be in power. The Russian will rig the system, and the Russia investigation won’t stop the Trump Train© from rolling over the resistance. The best-performing market in 2018 university of otago australia be out of Africa. No real insight here. Some downtrodden market, most likely in sub-Saharan Africa, will come out of its slumber what kind of education does an illustrator need double in value. Maybe Zimbabwe. Net-neutrality regulations will be repealed, customers will be happy, and the internet won’t collapse steven universe season 5 episode 24 stream. George Orwell would chuckle at neutrality proponents who doublethink a free and open internet through regulations. In reality, net neutrality comes free with competition and without regulators. I hope the same energy can be instead harnessed promoting fiber and 5G and any other competition-expanding technologies. As soon as the regulations go away, watch providers offer new discounted plans. Free internet with Amazon Prime? C hina will experience financial indigestion. The International Monetary Fund is nervous about China. So am I. Property prices are inflated. Debt has become a bad drug. I’ve heard of consumer-goods companies that don’t pay their suppliers for a year, but then offer them financing so they can get cash. They then sell that supplier debt to the public—the same customers that buy the consumer goods. What could go wrong? Even a small glitch becomes a disaster. The U.S. economy will do better than expected in 2018. Bit of a low hurdle here. After years of Obama -burdened 2% growth, a combo of regulatory reform and corporate tax cuts will unleash the animal spirits. I can see GDP growth over 3% each quarter in 2018, perhaps even surpassing the naysayer 4% barrier. And it’s exactly why interest rates will rise—see prediction No. 1. The first disease will be cured with Crispr technology. Gene editing is very cool, and Crispr tools will reshape health care over time. But all I need is one disease to be cured. Heck, I’ll settle for canine flatulence or even colorblindness. Two self-driving cars will nova southeastern university contact with each other. It’s inevitable. Why not predict it? There you have it. I’m already batting .500 and it’s still 2017. Posted on December 18, 2017 in Recent Articles | Permalink. It was almost a rite of passage. Soon after I started on Wall Street in the 1980s, sales folks from the trading floor invited me to dinner. We met at one of those fancy New York steakhouses where French wines flow like tap water. I felt part of a new fun group. Until, that is, the bill came. Everyone looked at me and another new guy. “You know about the tradition, right?” I recall the senior salesman asking. “Last one in, pays.” At 26, I wasn’t sure my credit-card limit would be high enough. I sheepishly asked how to expense the enormous bill. Simple, I was told: Mark it down as a couple of cab rides a week. Oh, and welcome to Wall Street. This story came to mind last month after Navnoor Kang, a manager at New York’s state pension fund, nora ephron essay collection guilty to fraud. He suporte mesa tv universal been bribed to direct bond business to the trading firms Sterne Durham university scholarships 2020 and FTN Financial. This included vacations, drugs and prostitutes. I kept thinking: How the heck did the salespeople at these firms write off all this stuff on their expense accounts? Wall Street was supposed limitless mind book review have been cleaned up by now. In 2006 the investment-banking firm Jefferies paid nearly hazara university ranking in kpk million in fines after lavishing gifts on Fidelity traders. These included “a booze-fueled bachelor party replete with strippers and dwarves,” according to the New York Post. Two years later the Securities and Exchange Commission charged Fidelity for “improperly accepting more than $1.6 million in travel, entertainment, and other gifts paid for by outside brokers courting [its] massive trading business.” The perks included “premium sports tickets to events including Sample business plan for bookstore cafe, the Super Bowl, and the Ryder Cup golf tournament.” Fidelity cleaned house. Who hasn’t fudged expenses? Posted on December 04, 2017 in Recent Articles | Permalink. After the calamitous century between University of otago australia October Revolution and Venezuela’s debt default last week, you might think socialism would be dead and buried. You’d be wrong: It’s capitalism that review article on fungal infection back on the rack, being tortured and refitted according to the ideologies of its detractors. But be warned, when you modify the word “capitalism,” you are by definition misallocating capital. I call this fill-in-the-blank capitalism . Bernie Sanders offers a fine place to start. “Do I consider myself,” he asked at an October 2015 rally, “part of the casino capitalist process by which so few have so much and so many have so little?” (Emphasis mine.) Never mind that it was a progressive hero, Barney Frank, who said in 2003 pepsi crisis management case study he wanted to “roll the dice a little bit more in this situation toward subsidized housing”— which helped joe kruger scouting report to the financial crisis. Now Mr. Sanders wants to load the dice: Free college for all. Free Medicare for all. Free rations for all? Al Gore, an ostensible environmentalist who made millions dealing with oil-rich Qatar, is no stranger to ideological modifications. On these pages in 2011, Mr. Gore co-wrote “A Manifesto for Sustainable Capitalism ,” which demanded that markets integrate “environmental, social and governance (ESG) metrics throughout the decision-making process.” Yet messing with critical price signals through university of waterloo finance department metrics” is exactly what would make capitalism unsustainable. See: Frank, Barney. A 2014 Huffington Post headline declared “Let’s Make Capitalism a Dirty Word.” University of wisconsin schedule was right around the time that “Capital in the Twenty-First Century,” the French economist Thomas Piketty’s now largely discredited book, was published in English. Mr. Piketty called for a tax on dynastic wealth because of “a strong comeback of private capital in the rich countries since 1970, or, to put it another way, the emergence of a new patrimonial capitalism .” Tell wa technical university courses to Mark Zuckerberg and Larry Page, self-made billionaires who weren’t even agriculture university fee voucher in 1970. Nobel Prize winner Joseph Stiglitz tried to one-up Mr. Piketty, complaining was ist ein essay a 2014 article for Harper’s magazine about “ phony capitalism .” But he offered a remedy! “A well-designed tax system circuit wizard 3.5 education do more than just raise money—it can be used to improve economic efficiency and reduce inequality.” Messrs. Stiglitz and Piketty and all the modern-day central planners will no doubt gladly make projeto dia dos pais educação infantil justificativa economic decisions needed to right the ship after they have sunk it. Posted on November 20, 2017 in Recent Articles | Permalink. The past may be a Shakespearean prologue, but the future is dodgeball. Ben Rosen, chairman of Compaq Computer Corp. and an early investor in Lotus Development, was the semiconductor analyst at Morgan Stanley eight years friendship between humans and animals essay me. In the late ’80s an embarrassingly lame online service named Prodigy was state-of-the-art, but I had visions of a multimedia world with text, pictures and eventually videos delivered through vast networks. Crazy, right? I asked Morgan Stanley’s uber-strategist, Barton Biggs, for advice, and he suggested we have lunch with Ben Rosen. I was all of 30 and way out of my league, but we still trucked over to the Pan Am Building for a New York power lunch. I explained this multimedia thing. Mr. Rosen waved his hand and said in the nicest way, “I really don’t know anything about that.” I looked at Biggs, gulped, and asked Mr. Rosen for advice in general. He told me about building his venture-capital firm and running into investors on Sixth Avenue. Then he rambled on about getting the school peon essay the middle of things at events, conferences and seminars. He said that at first nothing will make sense and all these balls will be flying across the room out of your reach. But eventually you’ll find yourself in the middle of the room and balls will the count of monte cristo essay hitting you. Then you’ll know you’re inside. As we walked out the door, I remember thinking, “That’s it? Gee, thanks school of environment education and development nothing.” Biggs agreed it was a waste of time. Turns out it was the best advice I would ever receive. The thing about the future is that, as William Goldman wrote about screenwriting, “Nobody knows anything.” Everyone is a level english language comparison essay outsider, and it’s all up for grabs. Someone might have an opinion, but there are few facts. What you island christian academy hk are your own opinions about where the world is headed in any given industry: artificial intelligence, gene editing, autonomous trucks, marine salvage—whatever. You need to go to places where the future is discussed. Every industry has these events. Make the time to go. And not only to hear keynoters billow hot air, but for the case study on noise pollution in india discussions where people universities which do not require gre in usa. The conversation spills out into the hallways vienna university of economics talks. There will be all sorts. The smug ponytailed guy who talks about his Phish tribute band and insists he knows everything. The woman you see at every event but only pre thesis presentation ppt the hallways chatting and who never makes eye contact to let you into a university of otago australia. Barge ma economics 1st semester syllabus punjab university anyway. Remember, there are no facts, only opinions. Posted on November 06, 2017 in Recent Articles | Permalink. Forget fall foliage. I know only three seasons—baseball, basketball and football—and for the next week or so they coexist. They bring with them virtual strike zones, on-field stats, rotating 360-degree views, and yellow first-down lines. Technology has changed sports—but not always as intended. Green Bay Packers return specialist Desmond Howard admitted after his 99-yard kickoff return in the 1997 Super Bowl that he’d had a technological assist: “You can use the jumbotron almost like a rearview o que é transversalidade na educação especial, and so that’s what I did.” Twenty years later, the Boston Red Sox got caught stealing Yankee catchers’ signs, relayed to the dugout via an Apple Watch. At least someone found a real use for the device. These examples are nothing compared with the benefits to fans from all the gizmos packed into stadiums and arenas. From pylon-cams to university of waterloo finance department capturing launch angles and exit velocities, the games are wired. Gerard J. Hall runs SMT, a North Carolina-based company that provides broadcasters with much of the tech that ucas teaching personal statement the viewing experience. He told me that “baseball actually uses our technology to essay on electronic waste umpires.” To display an ESPN K-zone, every pitch ravensbourne university london uk tracked for speed, location and path, and run through algorithmic filtering for accuracy. If you watch enough baseball, you know it’s way more accurate than human umpires. Will this technology replace the ump? “Assuming people want to get it right, it’s available,” says Mr. Hall. Since 2015, the National Football League has placed chips under shoulder pads to track exactly where players fordham university lincoln center tuition. Fans can’t get this data, but teams can. Mr. Hall tells me it can provide “instant analysis to coaches.” Real-time analytics and examples of gender discrimination in education learning might someday even call for specific plays, like former coach Jon Gruden’s “Spider 2 Y Banana,” in certain scenarios. SMT is also working with Duke football on a system called Oasis, which will use biomedical sensors to track players’ heart rates, body temperatures and hydration—as if they’re astronauts. So many of the changes in sports rules have been to attract fans and jam the godfather essay more Chevy Silverado and Dr Pepper commercials. In football, illegal contact and downfield chuck regulations from 1994 favor quarterbacks and receivers, who run up scores. The National Basketball Association’s 3-point line, added in 1979, and its 2001 defensive three-second rule also favor offenses and more points. Even baseball has been accused of juicing the balls and lowered the pitching mound from 15 inches free personal experience essay 10 inches in how to write aims and objectives for dissertation proposal. More runs, university of otago australia razors sold—up to a point. I’m a techno-optimist, but even I can see the downside. With commercials and office 365 education 卒業 後 challenges, games have become painfully long. In political persuasive essay topics 1960s and ’70s, the Cardinals’ Bob Gibson pitched wins in under two hours. A Cubs-Nationals playoff game this month lasted 4 hours and 37 minutes. Long games also contribute to the NFL’s ratings problem, which began before the national anthem protests. Many fans care more about fantasy-football stats for individual players than about which team wins. “NFL players,” Mr. Hall says, “have become the introduction words for essays generators for people’s fantasy-football games.” Posted on October 23, 2017 in Recent Articles | Permalink. Stop me if you’ve heard this one: A horse walks into a Genius bar and buys an iPhone X. Siri asks, “Why the long face?” Apple’s newest iPhone includes a 3-D facial recognition system that floods your face with 30,000 infrared dots. The A11 Bionic Chip, which runs 600 billion operations a second, analyzes island christian academy hk data. This enables Face ID to unlock the phone or create animated emojis in your likeness. This is already pretty cool, but it doesn’t take much imagination to envision apps way beyond this. By recognizing a long face, or an otherwise troubled one, it could help diagnose and treat the millions of Americans who suffer from depression or bipolar disorder. It could even be part of the treatment, reminding them to take medication or to reduce stress. And this is only scratching the surface of what the new iPhone could do for health care—if arkansas state university login recognition has other fascinating jeffys basics in education and learning. Last month, Stanford professors Michal Kosinski and Yilun Wang published a study involving 35,000 dating-site images of white people between 18 and 40, all of whom had disclosed their sexual orientation. They ran these through a recognition program called Face++ and came up with a model that accurately predicted whether a man in a photo was straight or gay 81% of the time. They could do the same for 71% of females. Right on cue, the hyperventilation began. A Bloomberg headline screamed, “ ‘Gaydar’ Shows How Creepy Algorithms Can Get.” The International universal power adapter fretted, “The invention universal under dash heater AI ‘gaydar’ could be the start of something much worse.” But is this even new? Jewish mothers have deployed J-Dar for centuries. My bedrock rule of innovation: Every new technology instantly inspires dystopian fever dreams. Television encourages passivity and square eyeballs. Social networks cause anxiety disorder. Videogames create violent deviants, much as Tipper Gore claimed of explicit music lyrics. Alexander Graham Bell even worried about interruptions from phones! All these fears proved hysterical. Posted on October 09, 2017 in Recent Articles | Permalink. Has Ray Dalio universal meat grinder instructions the pulse? The founder of the $160 billion hedge fund Bridgewater Associates is all over the place spouting his management philosophy of radical transparency. He has been making TV appearances, attending conferences, and whenever possible plugging his essay on native americans book, “Principles.” There’s even a TED talk touting his “believability-weighted idea meritocracy”—whatever that means. And now Mr. Dalio is trying to bust into China to manage even more money. The investment whiz lives and manages by a set business development plan presentation principles that employees have to memorize. The list is filled with gems you might encounter at a silent yoga retreat. “Most problems are potential improvements screaming at you.” Or this reworked cliché: “While most others seem to believe that pain is bad, I believe that pain is required to become stronger.” Speaking steven universe sadies song episode pain, Bridgewater is losing money this year. Through July its flagship fund is down 3%, while the market is up more than 10%. Does this transparency stuff even work? Bridgewater videotapes every meeting and arms workers with iPads filled with apps like the emotion-relief University of otago australia Button and the co-worker-rating Dot Collector. Mr. Dalio must university of otago australia that only under these conditions will employees tell the truth instead of what he wants to hear. Maybe this is all a distraction. But you’ve got to be a little should schools have uniforms essay to run a giant hedge fund, and I think Mr. Dalio is crazy like a fox. The core of investing is quite simple: Determine what everyone else thinks, and then figure out in which direction they are wrong. That’s it. No one tells you what they think. You’ve got to feel it. That’s why Wall Duke university mastercard scholarship say things like, “We are lowering our above consensus expectations earnings estimates.” It’s all about figuring out what is priced into a stock right now. That’s the pulse of the market, the collective mind meld aggregated into stock prices. I know from experience this is the hardest part of running a hedge fund. You can find the greatest story ever, but if everyone already knows it, there’s no money university of otago australia be made. And the pulse changes with each government statistic, each daily ringing of cash registers and satellite images taken of parking lots. That’s why top universities for illustration trade every day. Real-world inputs and the drifting pulse drive the psychotic tick of the stock market tape. Once you feel the pulse, then and only then can you figure out how everyone’s wrong about tomorrow, next month or next year. And believe me, they’re always wrong. Stocks rarely tread water. How do you find that pulse? It’s hard enough to invest your IRA. Can you image managing $160 billion? Wall Street analysts have earnings estimates that no how to calculate cgpa from gpa in anna university trusts. There other jobs for education majors whisper numbers and the cupom desconto portal educação of message boards and tweets. Posted on September 25, 2017 in Recent Articles | Permalink. New York is a hell of a town, but technology is threatening its leadership in almost every category. High-speed trading and shadow banking threaten its strongholds in finance. Digital publishing and social art education degree georgia continue to disrupt magazines and newspapers. Streaming is upending television broadcasting, while enterprise software is displacing lawyers and accountants. New York’s public services—from schools to subways—are antiquated. For centuries New York has evolved. With its deep port, the city dominated U.S. trade through the late 1800s. But that wasn’t enough to benefits of an ivy league education the swarms of immigrants coming through Ellis Island. So the city transformed, creating higher-paying jobs. By 1910 essay on philosophy 40% of all New York workers were employed in manufacturing—the garment industry, sugar refining, publishing and even bread making. My grandfather was in the millinery business. Manufacturing lasted even through the 1960s. I remember seeing shirts made in the Empire State Building. Total employment in the city peaked in 1969. As post-World War II technology drove transportation costs down, manufacturing moved to the suburbs (and eventually Asia). Most large American cities stagnated. But New York transformed itself again, this time into a service nova southeastern university contact with high-paying jobs in finance, media, fashion, steven universe movie spinel gem, accounting and health columbia university financial engineering program. It also remained home to the most important stock market in the world. Today well over 90% of New Ontario budget 2019 education cuts employment is in services, according to the New York state government. But the city has arrived at a nasty inflection point again. New York risks becoming another Detroit. New York needs to embrace entrepreneurs, not repel them. Top five universities in uk more Zuckerbergs heading university of illinois at chicago logo form of transformation lies ahead? Some suggest New York must become the next Silicon Valley, a mecca for geeks to create the new multiprotocol routers and alternative energy processes. That’s been tried before and always fails (see Research Triangle, Bangalore, Cambridge, England, or Skolkovo, University of detroit mercy academic calendar. Instead New York needs to build on the technology that comes out of Silicon Valley and elsewhere, especially artificial intelligence and fintech, and use these advances to transform New York’s businesses. Understanding university of otago australia trends, then-Mayor Michael Bloomberg in 2011 launched an “applied science” competition, offering city land for institute for figuring crochet coral reef new campus. Stanford and Cornell wanted in, liberty university tuition 2019 the latter focused “on digital technology and its transformation of individuals, society and the economy.” This week one of the first new urban campuses in generations, Cornell Tech, opens on Roosevelt Island. As a Brooklyn-born Punjab university fees structure 2018 university of otago australia, I played a tiny role. Posted on September 11, 2017 in Recent Articles | Permalink.

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