|
http://ift.tt/2v954tJ
'He's gonna get killed' — Mike Tyson weighs in on McGregor's chances against Mayweather http://ift.tt/2uuT7xe
As the fight between Floyd Mayweather and Conor McGregor draws nearer, more and more experts are making their predictions for how the bout will go. The vast majority of the boxing world believes Mayweather will handle McGregor with relative ease, giving the mixed martial artist little chance of beating one of the greatest pound-for-pound fighters of all time in the ring. But there are others who believe McGregor has a chance to land a knockout blow in the first four rounds as he promised during the pair's promotional tour, due to McGregor's striking ability, Mayweather's problems with south paws, and the new angles the Irishman will be using. Count Iron Mike Tyson in the former group. In a recent appearance on ESPN's "Pardon My Take," Tyson expressed plainly what he believes will happen in the upcoming bout. "He's gonna get killed," Tyson said. "[McGregor] put his dumb a-- in a position where he's gonna get knocked out. Cause this guy's been doing this all his life. Since he was a little baby." McGregor's disadvantages were obvious to the former heavyweight champion. "[McGregor] can't kick and grab and stuff," Tyson said. "He's not going to stand much of a chance." Tyson also expressed disappointment in the fact that the fight will be taking place on in the ring, rather than in the Octagon. "I got mad because I thought they were going to use MMA rules against boxing because that's what it's all about: Can the boxer beat the MMA guy?" For now, the fight in the ring will have to suffice for Tyson. Mayweather and McGregor will face off in Las Vegas on August 26th. NOW WATCH: This Minnesota ski resort is giving skiers fun all year round with artificial turf See Also:
SEE ALSO: Tyson Fury tips Conor McGregor to knock Floyd Mayweather out in 35 seconds Business via Business Insider http://ift.tt/eKERsB July 30, 2017 at 02:09PM
0 Comments
http://ift.tt/2u9JC3c
I put $600 into a roboadviser invented by a 25-year old Stanford grad and I'm beating the market — so far http://ift.tt/2vNMt3U
Do-it-yourself investing can be scary for a lot of people, especially young wanna-be investors. The financial markets are complicated and so most people prefer to give their money to someone else to manage. When Brian Barnes graduated from Stanford in 2012, he had a hard time finding a tool with which he could invest in the stock market on his own. This prompted him to start his own online brokerage site, M1 Finance, at 25 years old. "What I was trying to do seemed relatively basic," Barnes penned in a recent post on M1's site. "I wanted to be able to pick my investments, and have recurring deposits automatically added to those allocations." And that's exactly what M1, which has $60 million under management, allows users to do. M1 users can pick the stocks they want to invest in and then they can determine what percentage of their portfolio they want each position to make up. M1 automatically updates as you put in more money and as stock prices fluctuate to maintain your preferred portfolio allocation. So if you want Apple to make up 25% of your portfolio, M1 will balance your portfolio as such. That means you can't buy one Apple share, or one Amazon share. It's all about the portfolio. Unlike most brokerage sites, M1 doesn't charge a fee for users to buy a stock. It does, however, charge users an annual percentage-based fee on their assets. Last Monday, I opened up an M1 account to try my hand at the markets. Business Insider rules prohibit trading in and out of securities, and I plan to hold these investments for the long term. Here's what it's like to have an M1 account based off of my experience. This is what the M1 Finance icon looks like on an iPhone.Before you fund your account on M1 you can start building a "pie." Clicking the turquoise plus sign allows you to add up to 100 "slices" to your pie. Slices can range from stocks, ETFs, or M1's pre-built pies.Using the Discover feature you can find the slices you want for your pie.See the rest of the story at Business Insider See Also:
Business via Business Insider http://ift.tt/eKERsB July 30, 2017 at 01:45PM A major player in the struggle for control of the Sinaloa cartel just surrendered in the US7/30/2017
http://ift.tt/2ua63oG
A major player in the struggle for control of the Sinaloa cartel just surrendered in the US http://ift.tt/2v4fsCS
Damaso Lopez Serrano, the son of one of Joaquin "El Chapo" Guzman's main henchmen and a competitor for control of the Sinaloa cartel, crossed the border and turned himself into US authorities on Wednesday. Lopez Serrano reportedly crossed from Mexicali in Mexico's Baja California state to Calexico in California, where he surrendered to the Customs and Border Patrol on Wednesday morning and was turned over to agents from the Drug Enforcement Administration on Thursday afternoon. "What we know is that he handed himself over yesterday (Wednesday). The case is now with authorities over there," a Mexican security official, who was not authorized to speak publicly on the matter, told Reuters. Lopez Serrano is the son of Damaso Lopez Nuñez, aka "El Licenciado," a nickname typically given to holders of law degrees in Mexico. Lopez Nuñez, a former security official who also held several jobs in the Sinaloa state government, was a close deputy of Guzman, reportedly helping the cartel chief escape from a prison where he worked in 2001.
His role in the escape burnished Lopez Nuñez's status in the cartel, elevating him to the upper echelons of the organization, according to Mike Vigil, former chief of international operations for the DEA. Lopez Nuñez's role in the government also underscored what many saw as the state's complicity in the Sinaloa cartel's rise to power. In the wake of Guzman's arrest in January 2016, the Lopezes became one faction in a fight to assume control of the Sinaloa cartel — a fight that has intensified since Guzman's extradition in January this year. They reportedly joined forces with the Jalisco New Generation cartel, vying with a faction led by Guzman's sons, called the Chapitos, and with another led by members of the Beltran Leyva Organization, a one-time ally of the Sinaloa cartel. Guzman's brother, Aureliano "El Guano" Guzman, appears to be in the mix as well.
Ismael "El Mayo" Zambada, Guzman's partner and a cofounder of the Sinaloa cartel, is still involved in the cartel and is reportedly working with Guzman's sons, though reports also indicate he is in poor health and not directly involved in cartel operations. The strategy of the Lopezes — the younger one nicknamed "El Mini Lic" — included cyber warfare, according to Televisa, using bots and contacting hackers. The latter move proved to be the elder Lopez's undoing, as the hacker contacted authorities and eventually helped them arrest him in Mexico City at the beginning of May. Over the first half of this year, Sinaloa state saw 879 homicides compared to 524 over the same period last year, according to government data. (Though that data may undercount the number of killings.) The violence in the state seems to have intensified in the weeks since Lopez Nuñez's arrest. During the first weekend of July, there were at least 30 killings — victims' relatives allege that one incident involved the extrajudicial killing of 17 suspected criminals. Lopez Serrano got an early start in the Sinaloa cartel, reportedly leading Los Antrax, an armed faction of the cartel made up of young members. Much like Chapo's sons, he appears to have documented his wealth and exploits on social media. Though, like the Guzmans, its not clear if the accounts attributed to him are actually his. Lopez Serrano also has an apprehension order against him issued by the District Court for Southern California in October 2016, and it appears that recent developments on the ground in Mexico may have prompted him to surrender. "The reason for surrender is he was being hunted by the Sinaloa cartel and 'El Chapo's sons [because of] his father's attempt to take over the cartel," Vigil told Business Insider. In addition to Lopez Nuñez's partnership with the Jalisco New Generation cartel, the elder Lopez was also accused of orchestrating an ambush on Zambada and Guzman's sons in February that killed several of their body guards. Media in Sinaloa state, where Zambada, the Guzmans, the Lopezes are all from, have reported that Zambada may have been after Lopez Serrano and threatened him. Regarded as a "spoiled narco brat who never got his hands dirty," Vigil said, Lopez Serrano was likely unable to protect himself by forging a partnership with the CJNG or by marshaling the armed force established by his father, prompting him to surrender.
Some reports indicate Lopez Serrano spent several days in a rural area near Mexicali before crossing the border to surrender. According to Televisa, Mexican authorities believe he did so in order to negotiate or to act as a protected witness. Vice News, citing sources with the Mexican defense secretariat's second military region, reported that Lopez Serrano requested protection from the US government. US officials are likely to look to Lopez Serrano for information on his father's associates and the dealings of his cartel, Vigil said. He may also be called to take part in the trial of Guzman, which is slated to start in April 2018 in the Eastern District of New York. The balance of power within the cartel remains unclear — though, according to El País, Lopez Serrano's surrender appears to clear the way for Zambada, despite his purported frailty, to assume full control of the cartel he helped found and in which he has long been a partner. "The leaders — under whatever circumstances — have always been Guzman Loera and Zambada Garcia," local crime analyst Alejandro Sicairos told El País. "And while one of the two lives, he will continue operating with the same force."
Even if that is the case, the Sinaloa cartel will still be under pressure not only from the government, but from its new chief rival, the ascendant Jalisco New Generation cartel. The CJNG is contesting Sinaloa's control of Tijuana and Ciudad Juarez, both valuable smuggling territories on the US border. The group is also adding to the bloodshed in areas where Sinaloa has long been dominant, including Guerrero and Sinaloa states. In the latter, security officials have admitted that police are underequipped and ill-prepared to deal with the rising narco violence. Lopez Nuñez remains in custody in Mexico, held in the same jail Guzman occupied before he was extradited. Interior Secretary Miguel Angel Osorio Chong has said Mexico is not considering extraditing him because he could be a valuable source of information regarding the Sinaloa cartel. Lopez Nuñez himself appears disposed to extradition however, reportedly saying he would prefer making a deal with US authorities to potentially being killed in a Mexican jail. NOW WATCH: Here's footage of 'El Chapo' arriving to the US See Also:
SEE ALSO: 'El Chapo' Guzman's powerful Sinaloa cartel is withering while he sits in a US jail Business via Business Insider http://ift.tt/eKERsB July 30, 2017 at 01:45PM Let Banks Manage Risks, Not Regulators http://ift.tt/2tPf72Q Goldman Sachs Chairman and CEO Lloyd Blankfein, JPMorgan Chase & Co CEO and Chairman Jamie Dimon, The Bank of New York Mellon CEO Robert P. Kelly, Bank of America CEO Ken Lewis, State Street Corporation CEO and Chairman Ronald Logue, Citigroup CEO Vikram Pandit, Wells Fargo President and CEO John Stumpf testify before the House Financial Services Committee in February 2009. No one knows yourself better than you do. The same concept applies with financial institutions and the risks they take. An outside entity will never understand the day-to-day operations that occur within the walls of a bank; moreover, the calculated risks that a financial institution takes when investing is best understood by the financial institution itself, not the government or any outside party. Shouldn’t these banks, therefore, determine how to utilize their capital if they are the ones who best understand the risks they take? In the last few years, a consensus for higher bank capital ratios has been established among politicians at the highest levels, in international financial circles, and among many of the respected academics working in this field. For example, in 2013, Anat Admati and Martin Hellwig published a new book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do About It. In it, they advocate for substantial increases in capital ratios over and above the figures mandated under Basel III. The book was praised by Nobel laureate, Roger Myerson, who described it as being "worthy of such global attention as Keynes' The General Theory." But, is it necessarily true that banks with more capital are safer and stronger, and hence more resilient in coping with cyclical shocks? Even Lehman Brothers, which was incidentally not a bank, had a capital cushion that comfortably exceeded the regulatory minimum just before it went bankrupt. Unless regulators are so intrusive as to undermine the autonomy of bank management altogether, there is always a risk that banks will acquire assets of such low quality that high capital buffers would fail to protect depositors. Since 2009, the reaction of most banks to the new regulatory frenzy has been to run scared. They have restricted claims on the private sector and expanded low-risk holdings of cash reserves and government securities. (Under the Basel III rules, cash and government securities require no capital backing as they are deemed to be “risk-free”). The new difficulties that companies face in raising finance from the banking industry may hamper growth and innovation, as even the IMF and the OECD sometimes quietly acknowledge. Since bank credit lines are a key source of working capital for some businesses—notably those which trade products, commodities, and securities—the restriction on credit has acted as a pro-cyclical, supply-side constraint on the economy. For all the talk about the looseness of the Fed’s monetary policy in the QE era, the inconvenient truth is that overall broad money growth in the U.S. has remained rather subdued since 2008. By enforcing extra bank capital requirements in the middle of an economic downturn (that is, in late 2008 and 2009), central banks and the main regulatory agencies aggravated the cyclical weakness in demand. For a few quarters, the resulting depression in asset prices made some banks even less safe, illustrating the warning by Irving Fisher in his 1933 book, The Debt-Deflation Theory of Great Depressions. As Fisher noted, a paradox might be at work. Borrowers repay bank debt, but in the process they destroy money balances and undermine the value of stocks, houses, and land. That increases the real burden of the remaining debt. In his words, “the mass effort to get out of debt sinks us more deeply into debt.” Sure enough, it has been some years since the worst of the crisis, asset prices have recovered, and American banks have started once more to expand their lending. However, the economy is not firing on all cylinders. Banks today are not providing the same full range of loan facilities as before 2008, while the cost to non-banks of hedging risk (through arranging options and derivatives with banks) is higher than before. Arguably, the increase in capital-asset ratios in the financial sector constitutes a structural impediment to the supply-side of the American economy. High bank capital ratios have damaged the American economy on both a cyclical and a structural basis. The solution? Every bank shareholder has a strong interest in ensuring that managements do not take on too much risk relative to the capital entrusted to them. It must be emphasized that the stable macroeconomic performance of the Great Moderation (in the 20 or so years prior to 2007) occurred while banks operated with much lower capital-asset ratios than now. The solution is to scale back untimely and excessive bank capital requirements and restore market discipline on banks and other financial businesses. Let banks spend more time managing risks and less time managing regulators and politicians. Business via Forbes - Entrepreneurs http://ift.tt/dTEDZf July 30, 2017 at 01:34PM A Startup That's Opening Doors--Literally--For Wheelchair Users http://ift.tt/2v9frNR About six months ago, Sam Lew, an undergraduate at Brigham Young University, was out and about on campus when a woman in a wheelchair asked him to help open a door. That got him thinking about how difficult daily life must be for any student with similar disabilities. Lew, however, was in a position to do something about it. A member of an undergraduate team in the University’s Crocker Innovation Fellowship, a year-long interdisciplinary program aimed at developing collaboration, innovation and entrepreneurship skills, he discussed his thoughts with his five colleagues. After some research, they decided to focus their efforts on inventing a better way for wheelchair users to go through entrance ways and forming a company named Piero to do that. The ultimate goal, says fellow co-founder Connor McLeod, is “to make the world more accessible to people with physical disabilities.” The startup just won $10,000 in the CommonBond Social Impact Award competition, run by CommonBond, a financial technology company that helps students refinance and borrow educational loans, in partnership with Pencils of Promise. The team includes six students, each from a different discipline. Lew, for example, is studying industrial design, while McLeod is in computer science. “Our common thread is our interest in entrepreneurship and creating a social impact,” says Lew. At first, however, they didn’t know exactly how to focus their energies. Then, after Lew discussed his experience, the team had a lengthy, in-depth conversation with the wheelchair user Lew had met. She shared what daily life was like and, says Lew, “We were able to pull out insights that gave us our idea.” What they developed is a device you attach to the motor on an automatic door that detects blue tooth signals from a user’s phone. It’s designed to be retrofitted onto existing door openers. To make that happen, the team needs to get a building’s blue tooth ID from its facilities manager (or users can add an ID via the company’s web site). Then an appropriately retrofitted door will open when it recognizes that signal. Ultimately, if a critical mass of doors are revamped to include the device, it potentially could become an industry standard, according to McLeod. The team just launched a pilot to test the product in a local university. Targeting wheelchair users in higher education is just the first step. Eventually, the plan is to expand into other products and such markets as bank, hospital and government buildings. “We’re trying to increase the independence and feeling of empowerment people have to get around every day,” says McLeod. Business via Forbes - Entrepreneurs http://ift.tt/dTEDZf July 30, 2017 at 01:34PM
http://ift.tt/2tOVhoG
The most affordable college in every state http://ift.tt/2tP2DbO
If you want to go to college, it's more expensive than ever. Tuition at both public and private schools in the US continues to rise at a fast clip, and Americans collectively owe more than $1.3 trillion in student loan debt. Using data from The Chronicle of Higher Education's interactive chart, Business Insider rounded up the least expensive college in every state. We further filtered the schools to include only the colleges and universities that were rated in the top 220 by the US News and World Report. The ranking uses tuition data from the 2016-17 academic year and looks at each school's full sticker price: published tuition and required fees, as well as room and board. Prices listed for state colleges are in-state, for residents. Read on to see the most affordable, highly ranked college in every state. Alabama — The University of AlabamaLocation: Tuscaloosa, AL Total annual cost: $20,020 • Tuition: $10,470 • Room and board: $9,550 Alaska — University of Alaska-FairbanksLocation: Fairbanks, Alaska Total annual cost: $15,714 • Tuition: $7,184 • Room and board: $8,530 Arizona — Arizona State University-TempeLocation: Tempe, Arizona Total annual cost: $21,756 • Tuition: $10,370 • Room and board: $11,386 See the rest of the story at Business Insider See Also:
Business via Business Insider http://ift.tt/eKERsB July 30, 2017 at 01:33PM
http://ift.tt/2vcbIyK
Billionaire investor Chris Sacca told an amazing story about how obsessed Kobe Bryant is with being a successful investor in the startup world http://ift.tt/2uW0lvE
In case there were ever any doubts about how Kobe Bryant plans to approach his retirement, an anecdote from billionaire investor and "Shark Tank" personality Chris Sacca illustrated pretty definitively that it will be with the same obsessive competitiveness that defined his basketball career. Appearing on Bill Simmons' podcast to discuss a slew of topics, Sacca shared a terrific story about his interactions with Bryant. Sacca said that a few years back, he reluctantly took a meeting with Bryant because the basketball star wanted to discuss some business ventures and the startup world. Sacca told Simmons that he was skeptical about Bryant not only because he wasn't a basketball fan, but because he had witnessed many professional athletes treat business like tourism, barely dipping their toes into the world and learning how it works. Not surprisingly, Bryant was slightly different. So I said, "Look, if you're serious about this, then prove it to me." I said, "I'm going to send you a bunch of stuff that you should read, a bunch of TED Talks and other videos you should watch, and if you do your homework then I'll talk to you about investing." It was funny because I didn't think he was going to do it. I thought it was kind of a nice way to let him off easy. Bryant did not balk at the homework assignment: So, sure enough, for the next few months my phone never stops buzzing in the middle of the night. It's Kobe, reading this article, checking out this tweet, following this guy, diving into this Ted Talk, diving into the Y Combinator Demo Day stuff. And I'm getting these texts, literally two or three in the morning, and my wife is like, "Are you having an affair with Kobe Bryant? What is happening here?" In the end, Sacca became just as fascinated with Bryant as Bryant was with the world of Silicon Valley: It was just at all hours, and the guy was serious! He was bringing the same obsessive work ethic to learning about startups that he does to training, to rehab, to his thousand makes a day, to everything. I was fascinated by it. So I ended up becoming really enthralled by him because this is a very unique personality type that I only kind of see in some of our very best entrepreneurs. Kobe Bryant is an untested rookie when it comes to entrepreneurship, but his obsessive competitiveness certainly suggests that he could be in for a prolific career. Emmett Knowlton contributed to this report. NOW WATCH: Kobe Bryant has had an insane work ethic throughout his entire career See Also:
SEE ALSO: The 50 most dominant athletes alive Business via Business Insider http://ift.tt/eKERsB July 30, 2017 at 01:33PM
http://ift.tt/2vVJ96w
WALL STREET CEO ON HIRING: 'If you have any names, email them to us' (MC) http://ift.tt/2uyCw9Y
Ken Moelis, CEO of Moelis & Company, is trying to get a message out to Wall Street: We're hiring. The boutique advisory firm founder explained the philosophy behind his bank’s recent hiring spree on an earnings call on Monday, saying there's not a single sector or area the bank was not looking to expand. He added that the firm is particularly focused on hiring younger talent that has the potential to grow with the firm. “What we don’t want to do is hire what I call peak talent,” Moelis told analysts. “There is a moment where you’re paying for peak and you’re not going get the growth." When pressed by an analyst about hiring younger bankers, he had a simple retort: "If you have any names, email them to us," 59-year-old Moelis said. "We're very interested in growing." Typically, bankers must put in several years as entry-level analysts, before advancing to the associate and director level. Most banks fill managing director slots from within, and typically hire those with 10+ years experience. Since the beginning of the year, Moelis has hired four new managing directors from outside the firm and promoted eight others from within, bringing its headcount to 111 managing directors. Not only does Moelis want to hire bankers earlier in their careers, but he said that putting undue emphasis on revenue per managing director is a “terrible idea.” Here’s more from Moelis on his hiring philosophy:
The bank’s stock surged as much as 8% on Tuesday after it posted a 31% revenue growth for the quarter over the previous year, thanks to increased M&A activity. Shares are up roughly 30% so far this year. See Also:
Business via Business Insider http://ift.tt/eKERsB July 30, 2017 at 01:27PM 'I don't know how many years I have left' John Cena's busy schedule leaves his WWE future uncertain7/30/2017
http://ift.tt/2u9SjKJ
'I don't know how many years I have left' — John Cena's busy schedule leaves his WWE future uncertain http://ift.tt/2tnh4Ui
Wrestling fans may need to start preparing themselves for a world without John Cena. In an interview with Complex, Cena admitted that while he does not know precisely how long he has left as a semi-regular WWE performer, he knows the clock is ticking. "I just turned 40 in April and we have so many young and talented performers," Cena said. "I don't know how many years I have left." For the past few months, Cena has been fairly absent from WWE programming due to his other media engagements. Now a certified star outside of the world of wrestling, Cena is an actor, producer, ad man, and now something of a fixture as a television and awards show host. Between time commitments to other projects and contractual obligations, it's tough to find time to consistently enter the squared circle. "There's no dipping around the fact that I haven't been on the program in a while because I've been doing other stuff. I haven't danced around it," Cena said. "I explained that the reason I cannot be on the program is because the movie folks, their insurance doesn't allow you to. That's a deal-breaker, it's not negotiable." Cena also addressed his current status as a "free agent" in the world of WWE. For the past two years most wrestlers in the WWE Universe have been exclusive to either the Raw or SmackDown brand, but Cena is currently floating between both groups because he doesn't know when he will be available and saying, "I also know that my days are numbered."
Wrestling fans have known for a while that Cena, between his seniority on the roster and growing profile outside the ring, would probably not be a weekly regular on their televisions for much longer, but this is one of the more direct times Cena has addressed the issue himself. That said, Cena is currently tied with Ric Flair with 16 world championship reigns, and there is little doubt that his career on the won't end before he breaks the all-time record. And even when Cena gives a more formal farewell to his time as an in-ring performer in WWE, he'll likely still be involved with the brand, whether as a brand ambassador, behind-the-scenes, or even as a surprise run-in at a future Royal Rumble. As Cena put it, "If the day comes when I'm not involved with the WWE that would come as a drastic surprise to me." NOW WATCH: Here's how LeBron James reacted when he learned Kevin Durant was joining the Warriors See Also:
SEE ALSO: The 50 most dominant athletes alive Business via Business Insider http://ift.tt/eKERsB July 30, 2017 at 01:15PM
http://ift.tt/2uC3zmy
There's way too much weed in California http://ift.tt/2h6t8HD
California's marijuana producers are growing eight times the amount needed for consumption, according to a report by Patrick McGreevy at the Los Angeles Times. Scaling back would be painful for growers, said Hezekiah Allen, the executive director of the California Growers Association, during a panel discussion at the Sacramento Press Club. The Times reported that a consultant in the audience estimated the pot glut at 12 times what's being consumed. In 1996, California became the first US state to permit medicinal marijuana. Its residents voted in November to legalize the possession of up to an ounce of marijuana for recreational use. But it now faces a glut ahead of new regulations that ban exports starting January 1. A consequence of the glut, Allen added, is that some growers on the black market would most likely export their product to other states in violation of federal law. Seven states including neighboring Nevada, Arkansas, and Massachusetts legalized marijuana in various forms on Election Day last year. In all, 29 US states have legalized marijuana in some form, according to Governing.com. NOW WATCH: An economist explains what could happen if Trump pulls the US out of NAFTA See Also:
Business via Business Insider http://ift.tt/eKERsB July 30, 2017 at 01:15PM |
Categories
All
Archives
October 2020
|
RSS Feed
