Former Enron Trader John Arnold Is Going To Save The World

john arnold

The Wall Street Journal‘s Brad Reagan has a monster profile of hedge funder and former Enron natgas trader John Arnold about his plan to change the way billionaires donate their money.

Arnold’s plan, Reagan writes, is to take on massive societal problems, like obesity and criminal justice reform, over the long haul, rather than focus on short-term giving.

Here’s one example of what it looks like:

…the Laura and John Arnold Foundation is bankrolling a $26 million nutrition study by Attia’s nonprofit, an effort that involves the use of metabolic chambers and that Attia likes to call “the Manhattan Project of obesity

Reagan also has a pretty funny description of Arnold himself:

Arnold, who turns 40 next year, is clean-cut and polite—he is the sort of man many Southern mothers hope their daughters will bring home, even if his net worth didn’t include nine zeroes. If you ran into him in one of the recreational soccer leagues where he has been known to play on the weekends, you would likely think he was an accountant or the manager of a rental-car agency, not a hedge-fund titan.

Anyway, a colleague of Arnold calls his plan the “Moneyball” approach to giving — using large volumes of data to better allocate charitable funds.

Check out the full thing on WSJ.com >

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Living Below the Line: 5 Lessons From Living on a $1.50 a Day Food Budget

No matter how frugal a food-budgeter you are, eating on a $1.50 a day?the amount a person living in extreme poverty has to spend on their food?isn?t easy. Having just completed the Live Below The Line challenge, a campaign that tasks participants with eating on $1.50 a day, for five days, to raise funds to [...]

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Oil Services Stocks: 12 Holds, 1 Sell

NEW YORK (TheStreet) — So far in 2013, crude oil has formed a trading range between its Jan. 31 high at $98.24 and its April 18 low at $85.61. As a result of this range-bound trading the oils-energy sector became the cheapest of the 15 overvalued sectors, being overvalued by 6.2%.

Back on April 4, I wrote, Oil Services Stocks: Hold ‘Em or Fold ‘Em? In this post, I profile the 25 stocks in the Market Vectors Oil Services ETF. OIH has also set a trading range down from $45.12 on Feb. 14 to $39.42 on April 17. Today I profile updates for 13 of the oils services stocks. Each of these stocks still have the same ratings as on April 4 — 12 rated hold and one rated sell.

The daily chart for Nymex Crude Oil ($93.11) shows declining momentum with the 21-day, 50-day and 200-day simple moving averages (SMA) at $92.89, $93.16 and $92.14. My monthly and quarterly value levels lag at $88.34 and $79.66, with a weekly pivot at $93.82 and annual risky level at $115.23….

Click to view a price quote on OIH.

Click to research the Financial Services industry.

    



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Exploring The Four Most Important Criteria Before Applying For A Loan

If you are considering applying for a personal loan, then it is important to consider three different factors: 1/ The APR (Annual Percentage Rate) of the Loan. This is the aspect of the loan that is the most important. It determines how much money you will end up having to pay back, and can vary dramatically depending on the type of lender. A loan wide needs to be viewed from the perspective that you will eventually have to pay the money back, and so you should really try to shop around as much as possible for…

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How To Get Out Of Debt

The first thing you have to do before you can get out of debt is to know how you got there in the first place. After this, you need to make some corrections in your spending habits. You gain little if you get out of debt only to be back there a few months later.

Next, you need to assess your financial situation. This includes getting an accurate assessment of your currents assets and liabilities and calculating your debt-to-income ratio. You should ideally include mortgage payments in this ratio, since it gives a better overall picture.

To get out of debt and stay out, you need to have a better understanding of how credit works. Unintelligent credit card spending is the root cause of most debt in the world today. If your debt is heavy, you should seek the services of an agency specializing in credit counseling. Such an agency can provide you with general budgeting guidelines and give you money management advice to ensure that you do not have debt problems in the future.

There are various means of getting out of debt ? including taking a consolidating loan, renegotiating your existing debt, availing of debt consolidation or going in for debt settlements ? but there is no magical way. All these methods are good ways to begin, but none is a sure-fire fixit solution. If you want to get out of debt – and stay out ? you must change your lifestyle and spending habits. There are no magic wands to wave to make debt go away. You will finally have to pay all of it.

The first lifestyle change is to make your debt as low as possible. In this way, you can pay off your debt at a faster rate. Remember that most companies fear that you will never pay off your debt, and this means that many are willing to extend you better terms by ways of debt negotiation. They may even take a reduced amount by ways of debt settlement to ensure that they get some of their money back.

If you opt for debt negotiation or debt settlement, your debt negotiator will evolve a new debt amount. Often, it is possible for you to pay only 60-70% of the original loan. In case you do not have the option of a lower payment, your creditors may permit you a lower interest rate. Either method benefits both you and your creditor.

You should not be averse to explain your money and credit situation honestly. By being transparent, you can come to an agreement and one successful negotiation can be the stepping-stone to eliminating your debt.

Debt consolidation is yet another option to get you out of debt. In debt consolidation, you avail of a lower interest loan and use it to pay off all your higher interest loans, for example credit cards. Debt consolidation is a risky step for some, because paying off credit card debt is not sufficient if you give in to further temptations to overspend on your credit card. It is best to stop using credit cards altogether after debt consolidation in context with credit cards. Else, you are in danger of getting into more debt than you were before debt consolidation.

Finally, controlling your expenses is the only long-term solution to get you out of debt. For this, you must first understand what your expenses are. Keeping a record of everything you spend is the only way to ensure that you know your spending patterns. After this, you will have sacrifice many frills in your lifestyle and learn to live on a budget.

Remember that it takes discipline and sacrifice to get out of debt. You can rest assured that enforcing discipline and sacrifice will be worth it, because staying on budget equals investing in your future.

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Approaching a Friend or Family Member About Being a Guarantor

Having recently experienced its worst times for over 20 years, the UK’s economy is still in an unstable state and many households are still feeling the effects of this. While the cost of living is continuously rising household incomes are a stagnating and in some cases even shrinking. This has meant that the pressure on household budgets has increased dramatically.

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5 Ways to Ensure Your Contractor Accountant Provides You Complete Services

Limited companies use contractor accountants for handling their financial matters assuming the work done by them is fully accurate, and they are managing the work by the law. But, how can you be certain the work is fine and to the point for you and the law. Well, here are 5 ways, follow them to find out how authentic is your accountant – 1) Choose a regulated accountant – Any accountant can keep books, complete tax returns, file accounts and handle financial matters on behalf of the firm, they work for.

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Effective Ways During Tight Economy

Tipping in a recession is a dilemma. Do you stick with the 18 to 20 percent formula or retreat to 15 percent? Do you skip an appetizer, a glass of wine or a dessert to lower your dining bill and thus your tip?

It’s a subject that millions of diners and travelers are wrestling with.

A lot of people whose income has vanished or shrunk because of layoffs, salary cuts and shrinking fixed incomes have cut back. Instead of going out to dinner every week, they settle for once a month. If they take a trip, they trade down, choosing less-expensive accommodations and restaurants.

As a result, minimum-wage wait staff, bellhops and hotel housekeepers have taken a huge hit, if they’re not among the nearly 10 percent of workers who are jobless. There is nothing wrong with cutting back, but give pause when you think about stiffing your waiter or hotel maid to save a few dollars.

“I believe that customers are tipping a smaller percentage of the bill,” said Michael Lynn, a professor at Cornell University’s School of Hotel Administration. “I base that on anecdotal encounters, lots of things on the Internet – servers say they are making less money.” A server quoted in The New York Times put it this way: “In New York, the average tip is 20 percent, though some tip as low as 15 percent and some as high as 30 percent. These days our tips are closer to 17 percent, with a range of 10 to 25 percent.

“This drop in tips registers to $60 less a night. Over five shifts a week that is $300 less per week! But we are working just as hard as we used to, perhaps even harder, trying to get people to forget their troubles for a few hours. … It’s not fair for people to take out their economic troubles on the server. If one cannot afford to tip, then perhaps that person should be ordering less.” Lynn, who has done extensive research on tipping, said that “during bad economic times, people become more price-sensitive.”

At hotels, Lynn said, only two-thirds of guests normally tip maids, who should get $1 to $2 a night.

In bad times and good, Lynn said, servers can increase their tips by using tested techniques found in Mega Tips, published by Cornell’s Center for Hospitality Research and available for free on the Internet (Google “mega tips”).

Among Lynn’s 14 points (most effective in casual-dining restaurants): Wear something unusual, introduce yourself by name, smile, squat next to the table, repeat customers’ orders and write “thank you” on the check.

At hotels, it’s hard to miss the bellhop, who usually gets $1 to $2 a bag, unless you are traveling light and politely wave him off. But there is little a housekeeper can do to earn a few extra bucks except to hope that guests remember.

If you are traveling abroad, where there also is a recession, keep in mind that tipping customs vary by country, so consult with your travel agent, a government tourist office or the worldwide tipping chart.

In Europe, many hotels and restaurants add a service charge to your bill, so additional tipping isn’t necessary. In Japan, tipping is considered an insult. That feeling is changing, but it’s best to inquire about the proper way to reward someone.

Even in a recession, there are no hard and fast rules for tipping. And whether at home or abroad, tipping is a personal matter. But however you feel about tipping, keep in mind that workers at the service end of the business are getting hit as hard as if not harder than anybody. Why not give ‘em a break?

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