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☆ Warren Buffett's love for Japan may be far from over after $8 billion paper profit
▼ + stars: | 2024-04-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett's Berkshire Hathaway has made billions of dollars from its big investments in Japan, and the Oracle of Omaha's love for the land of the rising sun is only growing deeper. The Omaha-based conglomerate priced 263.3 billion Japanese yen of bonds worth $1.7 billion, marking one of its biggest yen bond sales, according to a regulatory filing released Thursday. The cost of the positions was 1.6 trillion yen ($10.35 billion) and the 2023 yearend market value of the five stakes was 2.9 trillion yen ($18.76 billion), Berkshire revealed in its annual report. Meanwhile, the five Japanese trading companies are all dividend payers, yielding from 1% to more than 3%. Buffett even paid a visit to Japan with his designated successor Greg Abel and met with the heads of the Japanese firms last year.

Persons: Warren, Berkshire Hathaway, Buffett, Chamath Palihapitiya, Greg Abel Organizations: Berkshire, Mitsubishi, Mitsui, Sumitomo ., Tokyo Stock Exchange Locations: Japan, Omaha, Berkshire, Sumitomo . Berkshire

☆ Mark Zuckerberg's awkwardness may be a power move — here's why
▼ + stars: | 2024-03-31 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

Such behavior could be considered a power move and a marker of intelligence for tech CEOs. An awkwardness expert told BI that if you're powerful enough, you don't need to be charismatic. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. For Zuck and men alike, awkwardness is "seen as not only excusable, but laudable." But Plakias doesn't think awkwardness is an individual character trait, but rather something that comes out of social interactions.

Persons: Mark Zuckerberg, —, Zuck, Alex Volkanovski, bopping, Zuckerberg, Alexandra Plakias, Plakias, they're, It's, Ty Tashiro Organizations: Service, UFC, Business, Hamilton College, Oxford University Locations: New York

☆ Opinion: Jokes about disability aren’t taboo. But here’s who shouldn’t be telling them
▼ + stars: | 2024-03-02 | by ( Opinion S.E. Smith | ) edition.cnn.com time to read: +7 min

A better and more interesting conversation about comedy and the disabled is not whether people should be allowed to crack disability jokes (they are) or if disability can even be funny (it absolutely can be). The real question is who should be telling these jokes and how the lived experience of disability — punching up, rather than down — can make for radical, truly edgy comedy. Telling jokes about yourself, rather than dunking on others, is a true art form, and disability comedy threads that needle in a way that sometimes makes audiences uncomfortable, pushing at their understanding of disability in society and culture. One reason disability is so terrifying is the unknown factor, since many nondisabled people think they don’t know anyone disabled or that disability itself is a taboo topic, when in fact making disability funny can be accessible and disarming. Some 20% of the US population is disabled, and disability is one of the few marginalized identities that you can take on at any moment.

Persons: CNN —, Shane Gillis, Michaela Oteri Gillis, Dave Chappelle’s “, “ There’s, ” Chappelle, there’s, Gillis, Chappelle, That’s, they’re, Maysoon, coy, disablism, Pat Loller, Harold Foxx, Josh Blue, Steve Lee, Danielle Perez, Nina G, Bo Burnham’s, Gillis ’, They’re, — Organizations: CNN, SNL, Netflix, NBC Locations: Northern California, British, Palestinian American, Afghanistan

☆ 58 Black investors changing the venture capital industry with firms that fund diverse startup founders
▼ + stars: | 2024-02-20 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +1 min

Daniel Acheampong and Yasmin Cruz Ferrine, Visible HandsVisible Hands cofounders and general partners Daniel Acheampong and Yasmin Curz Ferrine. Visible HandsNotable investments: Parfait, Athlytic, Dollaride, Hearth Display, Noula, WriteSea, Plot, TANGappWhat kinds of companies he invests in: Pre-seed and seed-stage companies across industries. Why he's on the list: Acheampong and Ferrine cofounded Visible Hands in May 2020 along with Justin Kang to address the ongoing systemic barriers to funding, social capital, and resources plaguing underrepresented founders. At Visible Hands, Acheampong oversees investment processes as a general partner and Ferrine's responsibilities include compliance, capital raising, and investment functions of the firm. Acheampong utilizes his years of experience as an associate at the private equity firm Summit Partners and an analyst at Goldman Sachs.

Persons: Daniel Acheampong, Yasmin Cruz Ferrine, Yasmin Curz Ferrine, Ferrine, Justin Kang, Acheampong, Goldman Sachs, He's, John Hancock, Deval Patrick's, She's Organizations: Summit Partners, Massachusetts Institute, Technology's, Tsai Center, Yale University, Brown Advisory, Investment, Kauffman Locations: Boston

☆ Feeling poor compared to your neighbors can harm your health
▼ + stars: | 2024-02-10 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

That's according to a recent study by public health experts in Canada who found stark income inequality is causing a mental health crisis. AdvertisementIt assessed Census income data, community health survey data, and hospitalization and death rates since 2006. AdvertisementResearchers said these indicators of declining community health are directly tied to economic conditions. People with less money might have a more difficult time accessing medicine and mental health services compared to their wealthier neighbors. Improving public health outcomes and reducing social stigma around money needs to start on a broad scale by addressing economic disparities, she said.

Persons: —, Claire Benny, Benny said, ” Benny, “, Vivek Murthy, Schwab, Zers, Benny, ” Organizations: Service, Business, Census Bureau, Public Health Ontario Locations: Canada

☆ Ackman, Musk, Trump and How the Rich Convert Their Wealth Into Power - The New York Times
▼ + stars: | 2024-02-05 | by ( William D. Cohan | ) www.nytimes.com time to read: +2 min

Bill Ackman, the billionaire hedge fund manager, is an annoying and persistent contrarian. Whether you think Mr. Ackman is a billionaire blowhard or a courageous iconoclast, he is part of a paradigm shift in social media, where rich people are increasingly able to convert financial capital into social capital. He’s hardly even the first or most outrageous beneficiary of this unfortunate reality: That distinction probably belongs to his fellow billionaires Donald Trump and Elon Musk, who, like Mr. Ackman, have also discovered that unfiltered, limitless social media platforms are heaven for those with unconventional opinions and God complexes. But why do wealthy people like Mr. Ackman make such a fuss on X, posting lengthy diatribe after lengthy diatribe? He wants to reach the public, a public that doesn’t enjoy the same freedoms on social media that he does.

Persons: Bill Ackman, Harvard’s, Claudine Gay, he’s, Sally Kornbluth, Ackman, blowhard, Donald Trump, Elon Musk, Musk, Pierre Bourdieu Organizations: Elon, Harvard Locations: He’s

☆ Billionaire investor Chamath Palihapitiya suggests VCs could be replaced by 'an automated system' as the world adapts to AI
▼ + stars: | 2023-11-13 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Billionaire investor Chamath Palihapitiya discussed how AI could impact VCs. Palihapitiya said there was a "reasonable case to make" that the job could cease to exist. AdvertisementAdvertisementBillionaire investor and former Facebook exec Chamath Palihapitiya thinks AI will radically change the job of the venture capitalist. He said that changes to the industry sparked by AI could lead to VCs being replaced by "an automated system of capital against objectives." The rapid advancements in generative AI have sparked fears of job losses across industries, including in the financial sector.

Persons: Chamath Palihapitiya, Palihapitiya, —, Chamath, Jason Calacanis, David Sacks, David Friedberg Organizations: Service, Facebook, Silicon, Silicon Valley VC, Social Capital, Deutsche Bank Locations: Silicon Valley

☆ Achieving the 'American dream?' A lot of it depends on where you grow up
▼ + stars: | 2023-10-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

We are thought to be the country of the American dream, [where] once you start from the bottom, you move to the top. Measures of mobilityThere are two measures of mobility: relative and absolute. "We have less [relative] mobility in this country than we do in other developed nations, especially in Europe and developing European countries. "We are thought to be the country of the American dream, [where] once you start from the bottom, you move to the top. The U.S. only ranks behind England for having the world's highest university tuition fees, according to data from the OECD.

Persons: Friedman, John Friedman, that's, It's, haven't, Kreg Steven Brown, Brown, Juan Palomino, there's, Susan Thompson Buffett Organizations: Opportunity, Brown University, Harvard University, . Census Bureau, World Bank, U.S, Washington Center for Equitable, Universidad Complutense de Madrid, England, OECD, Susan Thompson Buffett Foundation, Biden Locations: Dallas, Texas, U.S, Europe, Denmark, China, South Africa, Morocco, American, Germany, Canada, Japan, France, Scandinavian, Nebraska

☆ Her son was an accused cult leader. She says he was a victim, too.
▼ + stars: | 2023-09-23 | by ( Donie O'Sullivan | ) edition.cnn.com time to read: +16 min

The man talking on the tape was her son, Michael Protzman. Michael Protzman got swept up in this alternate reality. We spoke to dozens of Americans whose lives and families have been affected by conspiracy theories, including Protzman’s own family. After Michael Protzman died this summer, some of his followers refused to believe he had passed. Vigrass never imagined that the conspiracy theories her brother was airing at the kitchen table could lead to him to join what she views as a cult.

Persons: CNN’s, O’Sullivan, Anderson Cooper, CNN —, “ John John, … Trump, Joe Kennedy, George Patton, Mussolini … ” Colleen Protzman, Michael Protzman, ”, “, John F, Kennedy Jr, Donald Trump, Kennedy, Junior —, “ He’ll, Trump, Jesus Christ, reemerge, opportunists, Protzman, Michael Brian Protzman, Michael “, Colleen Protzman, Michael, it’s, Sandy, ” Colleen Protzman, —, QAnon, Barack Obama, Rachel Maddow, Donie O'Sullivan, Michal Protzman, didn’t, JFK, Erica Vigrass, Jason, Erica, ‘ I’m, ’ ” Protzman’s, – Protzman, Erica Vigrass ’, Vigrass, ” Protzman, Jason –, They’re, Jesselyn Cook, It’s, Diane Benscoter, General, ” Benscoter Organizations: JFK, CNN, Dealey, Junior, Junior — JFK, WFAA, JFK Jr, Trump, Kennedys, Democratic Party, Michael Protzman CNN, Dallas CNN, Dealey Plaza, Dallas, Capitol, Facebook, Twitter, Hollywood, Unification Church, US Locations: United States, Dallas, JFK, Minnesota, Seattle, Washington, Dealey, –

☆ Opinion | America’s Shift Away From Religion
▼ + stars: | 2023-09-03 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “Americans Are Losing Their Religious Faith,” by Nicholas Kristof (column, Aug. 24):Mr. Kristof writes that Americans’ loss of faith results from religious scandals and the bad behavior of “charlatans” such as Jerry Falwell and Pat Robertson. The trend is a problem, he argues, because religion is central to our country’s social capital. First, Americans are also becoming less religious because there is zero evidence to support any of the central claims religious institutions make about God and the supernatural. And second, what worries me is not that people are less religious, but that they transfer their blind faith in religion and religious leaders to charismatic politicians like Donald Trump. But Americans aren’t losing their underlying spiritual and religious beliefs; they are defining and seeking connections to “higher powers” in other ways.

Persons: ”, Nicholas Kristof, Mr, Kristof, Jerry Falwell, Pat Robertson, Donald Trump, Mark K, Cassell Washington, aren’t Organizations: charlatans, Cassell, Kent State University

Each of the parents has forked out 14,000 yen ($96) to attend this event, hosted by the matchmaking agency Association of Parents of Marriage Proposal Information. It’s not that Japan, a notoriously work-obsessed nation where time is at a premium, hasn’t tried out the more direct approach to speed-dating, where the youngsters do it for themselves. Japan remains a highly patriarchal society in which married women are often expected to take the caregiver role, despite government efforts to get husbands more involved. But however great the yearning for grandchildren, Miyagoshi says she always emphasizes to parents that their children should come first. No matter how much parents want grandchildren, the children must be willing to have children,” she said.

Persons: Tokyo CNN —, “, It’s, hasn’t, ”, Noriko Miyagoshi, Junko Fukutome, Fumio Kishida, James Raymo, ” Raymo, Shigeki Matsuda, Philip Fong, Matsuda, it’s, ” Matsuda, Raymo, Miyagoshi, Tomohiro Ohsumi, don’t, Richard A, Brooks, hadn’t Organizations: Tokyo CNN, Sakai Chamber, Commerce, of Parents, Association of Parents, CNN, East Asian Studies, Princeton University, Chukyo University, National Institute of Population, Social Security, Young, Organisation for Economic Co, Getty Locations: Osaka, Japan, Aichi, Roppongi, Tokyo, AFP, France, Germany, Yonomori, Fukushima, Hie

☆ Warren Buffett, who turns 93, is at the top of his game as he pushes Berkshire Hathaway to new heights
▼ + stars: | 2023-08-30 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Berkshire shares have roared back to an all-time high on record operating profit, making it the biggest non-tech company by market capitalization. Warren Buffett took control of Berkshire Hathaway in 1965, and nearly six decades later as the "Oracle of Omaha" turned 93 Wednesday, his conglomerate is stronger today than it's ever been. Buffett likens the iPhone maker to a consumer products company and has said he is also attracted to its big buyback programs. "It's groundbreaking in the sense that I'm not aware of any prominent investor, hedge manager investing in Japan," Kass said. They touched on every top-of-mind topic for investors from the banking crisis to recession risks and even crypto.

Persons: David Kass, University of Maryland's Robert H, Buffett, Warren Buffett, Berkshire Hathaway, Greg Abel, Kass, Capital's Palihapitiya, Charlie Munger Organizations: University of Maryland's, Smith School of Business, Buffett, Berkshire, Mitsubishi, Mitsui, Sumitomo Locations: Berkshire, Omaha, Japan

☆ Warren Buffett at 93: All of the big moves from the still-active investing legend in the past year
▼ + stars: | 2023-08-30 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Before turning 93 on Wednesday, Warren Buffett made a number of astute moves in the past 12 months that helped push his conglomerate Berkshire Hathaway to an all-time high. Buying T-bills Buffett's massive cash hoard swelled to nearly $150 billion at the end of the second quarter. And the only question for next Monday is whether we will buy $10 billion in 3-month or 6-month" T-bills, Buffett told CNBC. Ramping up Japan bet Buffett recently hiked his stakes in five Japanese trading houses — Itochu , Marubeni , Mitsubishi , Mitsui and Sumitomo — to more than 8.5%. Occidental stake tops 25% Buffett also kept buying the dip in Occidental Petroleum , now owning a quarter of the oil giant.

Persons: Warren Buffett, Berkshire Hathaway, he's, Buffett, Treasurys, Chamath Palihapitiya, oilman Armand Hammer, NVR, Todd Combs, Ted Weschler, Benjamin Moore Organizations: Buffett, Berkshire, CNBC, Japan, Mitsubishi, Mitsui, Sumitomo, Social, Occidental, Occidental Petroleum, Clayton Homes, Berkshire Hathaway Energy Locations: Berkshire, Fitch's, U.S, Japan, Occidental, Horton

☆ China's richest people are leaning hard into quiet luxury, wielding stealth wealth like a weapon and scorning their flashy, label-chasing peers
▼ + stars: | 2023-08-26 | by ( Mary Hanbury | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +12 min

And rich Chinese people are leaning in, ditching "logo hunting" in favor of elegance, experts say. In a similar vein to the US and Europe – the "quiet luxury" aesthetic has emerged as a reaction to the economic climate. Chinese social media's got quiet luxury down to a sciencePeople have posted tutorials and photos on the “laoqian” style on China’s Pinterest-like site, Xiaohongshu. XiaohongshuTo be sure, there's being rich and looking rich, and the latter is where it's at on Chinese social media. WeiboSome influencers have also uploaded video tutorials on the "laoqian" style, to guide people on how best to dress for success.

Persons: that's, Dior, Gucci, Louis, Rich, Tom Wambsgan, Chukrut, you've, Javier Gonzalez Lastra, it's, Xi Jinping's, Milton Pedraza, Pedraza, media's, you'll, Richemont, Louis Vuittons, Thomaï Serdari, Joe, they're Organizations: Service, Bain, Co's, Burberry, Louis Vuitton, Getty, West, Ivy League, China Morning Post, Crazy, Luxury Institute, Twitter, NYU's Stern School of Business Locations: China, Wall, Silicon, America, bucketloads, Shanghai, Europe, Tema, Nanjing, Nikada, Beijing, Weibo

☆ SPACs can't be killed
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Chamath Palihapitiya, Founder and CEO of Social Capital, presents during the 2018 Sohn Investment Conference in New York City, U.S., April 23, 2018. Although SPACs raised just $13 billion last year, this week produced a deal that looks like it could have happened during the heyday. From U.S. presidential hopefuls’ forays to a continued SPAC king’s virality, SPACs’ reach is a reminder that they are hard to kill. This week, one of those SPACs bought Better.com, a mortgage lender led by Vishal Garg and backed by SoftBank Group (9984.T). They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Chamath Palihapitiya, Brendan McDermid, SPACs, Vishal Garg, Donald Trump, Vivek Ramaswamy, lister Chamath Palihapitiya, Anita Ramaswamy, Lauren Silva Laughlin, Sharon Lam Organizations: Social Capital, Investment, REUTERS, Reuters, SoftBank Group, Securities and Exchange Commission, X, KKR, Thomson Locations: New York City, U.S

Dr. Adrian Jacques Ambrose, 35, wants to make healthcare, especially mental-health care, more accessible. Ambrose is a senior medical director in the Department of Psychiatry at Columbia University Irving Medical Center. Columbia University Irving Medical CenterAmbrose, who goes professionally by Jacques, is driven by how confusing healthcare is. As a senior medical director in the Department of Psychiatry at Columbia University Irving Medical Center, he oversees about 50 physicians and 100 other clinicians across four clinical sites. "How do I continue to inculcate this dream of advocating for not only better healthcare, but better healthcare for vulnerable populations and minority populations?"

Persons: Adrian Jacques Ambrose, Ambrose, Columbia University Irving Medical Center Ambrose, Jacques, —, David Satcher, Ambrose doesn't, Rose Organizations: of Psychiatry, Columbia University Irving Medical Center, Leadership Institute Locations: Vietnam, Hawaii

☆ These kids get free vacations thanks to their YouTube fame. But what happens behind the scenes?
▼ + stars: | 2023-08-15 | by ( Lilit Marcus | ) edition.cnn.com time to read: +13 min

McCarty started a campaign called Quit Clicking Kids, aimed at stopping people using children on social media for monetary gain, in 2022. Child labor rights in the United States, from the factory to the internet: A timeline 1904 The National Child Labor Committee is founded, with the goal of ending all child labor. 1916 The first child labor bill – the Keating-Owen Act – is passed, which bans the interstate sale of any article produced with child labor and regulates the number of hours a child could work. In May 2023, the US Surgeon General’s office issued an advisory about social media and kids’ mental health. And for too many children, social media use is compromising their sleep and valuable in-person time with family and friends.

Persons: Chris McCarty, McCarty, Myka Stauffer, Stauffer, it’s, –, Keating, Owen, Franklin Delano Roosevelt, Coogan, ”, Instagram, Carlotta Dotto, Lilit Marcus The Coogan, Jackie Coogan, aren’t, “, Vivek Murthy, ” Stacey Steinberg, what’s, Steinberg, Yukari Schrickel, Mom Brooke Morrison, Parker, McKenzie, Morrison, ” Caz Makepeace, Craig, you’re, ’ ” Makepeace, Alex Winter, Machelle Hobson, Hobson, Makepeace, vlogging, Caz, they’re, “ We’ve Organizations: CNN, Morrisons, University of Washington, Child Labor, US, Labor, California, UN, Education, Trust, Facebook, National Archives, US Department of Labor, Actors, The Federal Trade Commission, New York Department of Labor, Washington State Legislature, Center, Children, University of Florida’s Levin College of Law, YouTube, Credit, Apple, Google Locations: New Orleans, Arizona, London, Dominican Republic, United States, New York, Illinois, California, ”, Australia

☆ Stop searching for 'the next Warren Buffett' — The 'Oracle of Omaha' is impossible to copy
▼ + stars: | 2023-08-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Every so often, a hot new investor on the rise is crowned "the next Warren Buffett" by the financial media, followed swiftly by disappointing performance that proves they're no "Oracle of Omaha." "The next Warren Buffett" remains Warren Buffett alone. What makes Buffett so hard to duplicate? That makes Buffett, famously a student of Columbia University's legendary value investing professor Ben Graham, the most venerated investor of his, or succeeding, generations. "Berkshire's economic moat is more than just a sum of its parts," said Greggory Warren, Berkshire analyst at Morningstar.

Persons: Warren Buffett, Sam Bankman, Buffett, Pershing, Bill Ackman, Eddie Lampert, Chamath, Berkshire Hathaway, LBJ, Ben Graham, Greggory Warren Organizations: Berkshire Hathaway, BNSF Railway, Apple, Columbia, Morningstar, Berkshire Locations: Omaha, Berkshire, New England

☆ How 'Birkin Bandit' George Mickum Infiltrated NYC Society
▼ + stars: | 2023-07-12 | by ( Kate Taylor | Anna Silman | ) www.businessinsider.com time to read: +52 min

"He would know people's weaknesses and what they wanted and somehow always have something to offer," a former close friend said. Another close friend said Mickum once gave her a $1,000 loan "within minutes" when she needed it because of a credit-card crisis. He never "let the truth get in the way of a good story," a former close friend said. Hermès bags, like the Birkin and the Kelly, have always been symbols of unattainable luxury. There wasn't even a dust bag; Mickum claimed his mom's assistant would drop it off later.

Persons: George Mickum strode, Carlyle, Patty Hearst, He'd, Mickum, Birkin, swilling, Patty's, Gillian Hearst, Mr, George Mickum, Gillian Hearst's, George, Sally Painter, who'd, Peter Davis, Jackie O, Barbara Walters, Alessia Fendi, influencer Hannah Stella, Nick Hissom, Steve Wynn, Hearst, they'd, Prince Charles, Anna Delvey, Patty Hearst's, Rumor, he'd, wasn't, Met Breuer, Peter Poopat, George Santos, Trinity, Elisabeth Thieriot, Thieriot, Hermes, —, Painter, Paul Mickum, George Mickum III, Sally, Painter's, Poopat, PJ Pascual, Patrick McMullan, Ramona Singer, Lauren Lawrence, Lawrence, Van Cleef, Nicole Salmasi, Trudy, Mike Vitelli, Eric Schmidt, Schmidt, Eric, R, Couri Hay, They're, Astor, William Randolph Hearst, Orson Welles, Kane, Gillian's, Bill Clinton, Patty, Bernard Shaw, Gillian, Lydia —, Shaw, Maxim, Lydia, Kane we're, Christian Simonds, Pierre, Krista Corl, Dee Dee, Scott Buccheit, Naeem Delbridge, Pascual, who's, We're, buttering, Simonds, Matthew Kehoe, England, — Hearst, Delbridge, Hearst's, Mario Glen Coco, Hearsts, Astrid Stawiarz, Tiger Woods, Ernie Els, Justin Timberlake, Joe Lewis, Buccheit, Mary McCarthy, Lillian Hellman, Mickum's, Christie Grimm, Steve, Kameron Ramirez, Hissom, Ramirez, Nick, Hunt, Damien Hirst, Douglas Elliman, Harry Winston, David Fiszel, invitees, Fiszel, Darian, Winston, Martha Stewart's, Mendel minks, Vacheron Constantin, Tao, Melinda French Gates, Shawn Mendes, Bill, Hillary Clinton, Neiman Marcus, Damien Hirst's, Damien, weren't, Kelly, Alexis Clarbour, Clarbour, Paul Wharton, you've, Wharton, Sean Zanni, Michael Coste, Hannah Stella, Coste's, Stella, Scott Fitzgerald, Coste, Goodman, Courroies Birkin, didn't, Aman, Cartier, Mickum's bluster, skeptically, satchel, Clarbour's, He's, We've, Sider, Philippe, Buccheit texted Pascual, he's, Hay, Café Carlyle, Alexander Hankin, Burisma, Hunter Biden, Mickum hasn't, There's, They've, Amy X, Wang, King Charles, Tracey Amon, Amon, GEORGE MICKUM Organizations: Hearst, Blue, Potomac, Hamptons, East, Met, University of Delaware, Southampton Bathing Corporation, Fields School, Georgetown Law, DC, Town &, New York Daily News, The New York Times, Google, Carnegie, Rockefeller, Cosmopolitan, Symbionese Liberation Army, Hearst Corporation, Vogue, Society of Memorial Sloan Kettering, Stockbridge Golf, New, Tiger, Tottenham, Douglas, Martha Stewart's Hamptons, Mickum, Projects, Madison, Getty, Antibes, Nike, Rue du Faubourg Saint, Couture, US, UN, New Yorkers, Avenue Couture, Hermès, Republican, Justice Department, Blue Star, Town, New York Times Magazine Locations: Bemelmans, Clinton, York, Palm, New, London, Manhattan, Dalton, Bay, Windsor Castle, Haute, Washington , DC, New York, Baccarat, The, San Francisco, Wilton , Connecticut, Side, Wyntoon, California, Buccheit, woodsy Stockbridge , Massachusetts, Stockbridge, Bahamas, Albany, Nobu, Martha, Peking, Paris, Istanbul, St, Georgetown, China, Italy, Hermès, Amalfi Coast, du, Midtown, brunch, Rue, Central Park, Mickum, Turkey, La, Café, Ukrainian, Ukraine

☆ Legacy College Admissions Don’t Determine Rich Kids’ Success - The New York Times
▼ + stars: | 2023-07-07 | by ( Shamus Khan | ) www.nytimes.com time to read: +2 min

We might assume that legacy admissions help privileged students at the expense of underprivileged ones. But I would wager that legacy students, if eliminated, are far more likely to be replaced by other kinds of privileged students than by underprivileged ones. Colleges and universities that are serious about fairness should eliminate all preferences — not just legacy ones — that advantage the privileged. But if elite schools delivered special intellectual growth and professional training — what social scientists call human capital — privileged students would benefit greatly from them. Instead, other forms of capital play a bigger role: symbolic capital (the value of being associated with prestigious institutions), social capital (the value of your network) and cultural capital (the value of exposure to high-status practices and mores).

☆ Chamath Palihapitiya calls Warren Buffett the 'GOAT' after figuring out his Japanese bet
▼ + stars: | 2023-06-22 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Prominent tech investor Chamath Palihapitiya expressed his admiration towards Warren Buffett, calling the "Oracle of Omaha" the greatest of all time after analyzing his latest bet on Japan. The 92-year-old Buffett recently hiked his stakes in five Japanese trading houses — Itochu , Marubeni , Mitsubishi , Mitsui and Sumitomo — to more than 8.5%. These companies, which are roughly akin to a conglomerate structure just like Berkshire, make good investments because they are stable dividend payers and earning growers, Palihapitiya said. The 92-year-old Buffett paid a visit to Japan and met with the heads at these Japanese firms earlier this year. Similar to Berkshire, the Japanese trading firms, also known as sogo shosha, are conglomerates involved in a wide range of products and services, including energy, machinery, chemicals, food, finance and banking.

Persons: Chamath Palihapitiya, Warren Buffett, Palihapitiya, Capital's Palihapitiya, Buffett, What's, he's Organizations: Buffett, Mitsubishi, Mitsui, Sumitomo, Tokyo Stock Exchange Locations: Omaha, Japan, Berkshire

☆ 8 money habits that are preventing you from growing your wealth, according to an ex-banker
▼ + stars: | 2023-06-22 | by ( Tim Denning | ) www.businessinsider.com time to read: +10 min

Ex-banker and personal-finance writer Tim Denning says a poor money mindset is what keeps you stuck. You also need to act on investments instead of waiting for the right time and seek out tax savings. I got this poor money mindset from the 2008 recession. "Don't pay in full. When you don't pay, they charge predatory fees and make you poorer.

Persons: Tim Denning, —, Katie, Austin Rief, Austin, Katie Gatti, I've, Cash, Lehman Brothers, you'll, Gordon Ramsay, It's, it's, There's Organizations: Service, Facebook, Morning, doesn't, Navy SEAL, Google, Microsoft, CNBC Locations: Australian

☆ Want a Class in Leadership Styles? Look to the N.B.A. Finals.
▼ + stars: | 2023-06-07 | by ( Tania Ganguli | ) www.nytimes.com time to read: +1 min

A few weeks after Caleb Martin joined the Miami Heat, he didn’t yet have much social capital with his teammates. Martin had heard that Butler had an aggressive personality, that he was known to bark at teammates and coaches. But Martin wasn’t thinking about the potential consequences of upsetting Butler during a pickup game on one of those early days. He marched up to Butler and said, “Anything you got a problem with, come say it to me.”For a split second, Martin wondered if his boldness would irritate Butler. “He didn’t view it as disrespectful or nothing like that,” Martin said.

Persons: Caleb Martin, Jimmy Butler, Martin, Butler, ” Martin, It’s Organizations: Miami Heat

☆ Can Kim Kardashian save private equity?
▼ + stars: | 2023-06-06 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +3 min

SuperReturn conference gets underway at a time of challenges for private equity. Kim Kardashian joins Harvey Schwartz, Orlando Bravo, and other leaders in speaking at the conference. The uncertainty has made it more difficult for both private equity and venture capital firms to raise money for their funds. Those are bold-faced names in Wall Street's world, but they can't compete with the star power of another conference speaker: Kim Kardashian. It remains to be seen if private equity can keep up.

Persons: Kim Kardashian, Harvey Schwartz, Orlando Bravo, Kardashian, dealmaking, there's, Carlyle's Harvey Schwartz, David Rubenstein, Julian Salisbury, Goldman Sachs, Robert Smith, Orlando Bravo of Thoma, Bennett Goodman, Jay Sammons, Rubenstein, It's, Sammons, Dre Organizations: equity's, Private, SuperReturn International, Vista Equity Partners, Orlando Bravo of Thoma Bravo, SKKY Partners, Bloomberg, Financial Locations: Berlin

☆ Nothing Is Bigger Than Stephen Curry vs. LeBron James
▼ + stars: | 2023-05-06 | by ( Sopan Deb | ) www.nytimes.com time to read: +1 min

A playoff series headlined by Curry and James is the basketball equivalent of the Rolling Stones and the Beatles touring together. Or Muhammad Ali vs. Joe Frazier, except with a touch more gray and way more mutual respect. Or, in basketball terms, this is Magic Johnson vs. Larry Bird in the 1980s. James, at 38, and Curry, at 35, are nearing the end of careers that have revolutionized basketball, with no clear heirs to continue the progression. “I think the league is very healthy as far as star power, but who takes the lead in that role?”

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