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15 Life Lessons From Top Hedge Fund Managers

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Paul Tudor Jones and Glenn Dubin

The hedge fund industry is full of some of the brightest people in the world who are immensely successful in trading and investing. 

While they can definitely offer some valuable advice about investing, they are also full of bits of wisdom about life in general.    

We've included a round up of life lessons, principles and advice from a few of the brightest fund managers out there. 

Paul Tudor Jones: Shame can be a lifetime companion for which you better prepare yourself."

Backstory: Right after college, PTJ was working for prominent cotton trader Eli Tullis in New Orleans. After a night of partying in New Orleans, he fell asleep at his desk and was fired.  But he earned a lesson from it. 

"Today, I will put my work ethic up against anybody's on Wall Street. Failure will give you a tattoo that will stay with you your whole life, and sometimes it's a really good thing. One other side note, to this day, I've never told my parents that I got fired. I just told them wanted to try something different.  Shame can be a lifetime companion for which you better prepare yourself." 



PTJ: 'Everything happens for a reason.'

"So here is the point: you are going to meet the dragon of failure in your life. You may not get into the school you want or you may get kicked out of the school you are in. You may get your heart broken by the girl of your dreams or God forbid, get into an accident beyond your control. But the point is that everything happens for a reason. At the time it may not be clear. And certainly the pain and the shame are going to be overwhelming and devastating. But just as sure as the sun comes up, there will come time a time on the next day or the next week or the next year, when you will grab that sword and point it at that dragon and tell him, 'Be gone, dragon. Tarry with me and I will cut your head off.  For I must find the destination God and life hold in store for me!'"

Source: Commencement Speech to the Buckley School in 2009



Glenn Dubin: Failure is inevitable

"...you will experience failures both in your personal life and career.  I hope you won’t fail as spectacularly as I did and get rejected on your first 29 job interviews, but some failures in life are inevitable. Work through them and, most importantly, learn from them."

Source: Stony Brook University



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If Congress Can't Compromise, Then America Will Have A 'Hollow Army'

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Air Force Graveyard BoneyardAutomatic budget cuts that could hit on Mar. 1 have top military leadership scrambling, with Army General Ray Odierno warning that they will reduce the service to a "hollow Army."

While the U.S. military could benefit from cutting some fat, the blunt and sudden terms of sequestration have the Pentagon in a panic.

The cuts for 2013 total $85.4 billion, with $42.7 billion hitting defense spending, according to The Washington PostThe cuts will also affect communities and industries that support the military, demonstrating broader effects that the Army projects will result in serious job losses across the nation.

Congress will have to reach a deal soon to avert the sequester, with Democrats looking for a mix of tax increases and spending cuts and Republicans seeking a different package of spending cuts.

Combat training for soldiers is going to drop by 80 percent

Funds that keep the Army functioning and allows training are known as Operations & Maintenance, or O&M funds. According to Gen. Ray Odierno, there's a "mismatch of funds" due to the continuing resolution, and sequestration is going to make it much worse.

The current shortfall is $6 billion, with sequestration adding another $5.4 billion. That means the Army needs to direct much of its money at soldiers in Afghanistan and other forward-deployed areas and sacrifice training at home.

According to the Department of Defense, there will be an 80 percent drop in training, which will mean less time for soldiers at the shooting range, or participating in training exercises that often help them later in combat.



Forces in Afghanistan may be stuck there longer

The Pentagon is adamant about protecting funds for troops deployed to combat in Afghanistan, but the sequester could still hit them in another way.

"We're funding, totally, Afghanistan. We're going to fund, totally, Korea, and sustain the readiness level in Korea," Odierno said Tuesday at The Brookings Institution. "What that means is the rest of the forces that are now back in the United States will not be able to train."

Without crucial training, Odierno may have to keep troops overseas beyond their return date, which would have devastating effects on morale:

"I then have to send forces that aren't ready, or I have to extend forces that are already there," he said. "That'll be a decision I have to make as we get closer. We will continue to try to divert money so we do not have to extend people in Afghanistan."



Military health care will be slashed

Military leaders and the President have maintained that the troops' compensation will not be affected by sequestration, and that service men and women don't need to worry about getting their basic pay or housing allowances.

But the troops do need to keep on eye on their health care coverage. The Defense Health Program is one notable exception that is eligible for sequester, and is set to receive $3 billion in cuts unless Congress moves money from another account to cover the shortfall.

Budget cuts to the Defense Health Program could affect the military Tricare program, and medical research, including studies of post traumatic stress, traumatic brain injury, and infectious diseases. 



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Meet The Victoria's Secret Angel Poised To Take Over The Brand

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victoria secret fashion show 2012, armory, bi, dng, lingerie, models, cute, attractive, hot, beautiful, sexy, underwear, modelWhile more than 30 women walk the Victoria's Secret runway each year, the brand highlights a few "Angels" whom it grooms to be superstar ambassadors.  

These models, like Tyra Banks, Gisele Bundchen, and Adriana Lima, have become synonymous with the brand. 

During its annual Fashion Show, Victoria's Secret made it very clear whom it's grooming to be the next superstar: 24-year-old Candice Swanepoel.

Swanepoel is a South African farm girl who has emerged as one of the most successful models in the world. 

"Candice has become a superstar," a creative director said during the airing of the Victoria's Secret Fashion Show, where Candice was the only model to have her very own segment. 

Candice was born in the small farming village of Mooi River, South Africa in 1988.



She says that as a child she was a "tomboy" who did chores on her family's dairy farm, not far from a Zulu village.



A modeling scout discovered Candice when she was 15 and shopping at a local flea market.



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Rihanna Posts PDA-Heavy Photos With Chris Brown From Her 25th Birthday Party

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Rihanna birthday cake

Rihanna celebrated her 25th birthday yesterday by having a blowout bash with her friends and family in Hawaii.

After jet skiing with Chris Brown during the day, the singer partied with friends and family that night.

From photos of the cake to PDA-heavy shots of Rihanna and Brown, take a peek inside Rihanna's 25th birthday celebrations -- all posted by the singer to her Instagram account.

The Hawaii trip started yesterday with this photo of Rihanna sitting on Chris Brown's lap. It has a whopping 536K likes on Instagram.



The singer then posted this photo of the on-again couple. It has 200K likes and counting.



After jet skiing during the day, Rihanna celebrated her 25th birthday with a party at night.



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ATLANTIC CITY IS DOOMED — But It's Still A Fun Place To Visit!

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Atlantic City Boardwalk Entrance

These are hard times for Atlantic City, which recently recorded its sixth consecutive year of falling gambling revenues and saw an ambitious new casino prepare for bankruptcy.

You can blame the economic downturn as well as the rise of competing casinos in neighboring states.

Hurricane Sandy didn't help either. The casinos were ordered to remain closed for almost five full days, and lost an estimated $5 million in gambling revenue combined each day.

But you know what? The "World's Playground" is still an awesome place to visit, with plenty of exciting new attractions aimed at targeting leisure travelersinstead of gamblers, and revitalizing its boardwalk. Atlantic City is also getting buzz from HBO's hit show, Boardwalk Empire.

Atlantic City is huge, but most people only think about the boardwalk and pier.



It reached its boom period in the 1920s thanks to prohibition and illegal gambling — it even called itself the World's Playground.

Source: Press of Atlantic City



The '20s were so glamorous that they are even the subject of HBO's Boardwalk Empire, starring Steve Buscemi as the political boss and racketeer Enoch "Nucky" Thompson.

Source: HBO



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8 Ultra-Gold Bulls Who Look Foolish Right Now

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gold price chart

There's no question that gold prices have been in a jaw-dropping long-term bull market for basically a hundred years.

This has led some expert like George Soros to call it the "ultimate bubble."

But with global central banks expanding the money supply as they embark on ultra-easy monetary policy, many gold bulls like Marc Faber and David Rosenberg have called for prices to go higher.

There are also the ultra-bulls who think gold is headed for the stratosphere.  For whatever reason, they argue that it could be worth multiples of where it is today.  We've heard targets from $5,000 to $10,000.

There's even a rationale for gold at $46,000/Oz.

With prices plummeting, we thought it would be a good time to revisit some of the wildest gold price targets we've heard in the last year.

$5,000 — BofA Merrill Lynch's MacNeil Curry

"Minimum upside targets are seen to the 6-month range highs at 1789/1803, with potential to the Sep’11 highs at 1921 and a resumption of the secular bull trend that ultimately targets a price of $3000 to $5000 an ounce."

Read more here >



$6,000 — Ben Davies

"...But people are ultimately exiting out of these fixed income assets, this sovereign debt, and they are going to be going into gold. I can see that the Asian demand is still very palpable. In fact it’s increased from last year quite dramatically. That is the buyer in the market. The question is, will they (China) be there over the summer months?

"Look, if you were to run M4, M3 numbers, etc, and assert a value to gold on an appropriate metric relative to that, obviously gold would be at stupendous prices. I believe that gold has considerable room to go to the upside, four or five times (Gold price above $6,000). I think that’s not an inappropriate suggestion."

Read more here >



$6,300 — Citi's Tom Fitzpatrick

"When we look at the move in 2006/2007, if we follow that trajectory it should take gold up towards $2,400.  But we see no reason why this gold trend cannot perform as well as the last bull market in gold between 1970 and 1980.  If you replicated that move exactly, it will take gold to $6,300."

Read more here >



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These Are The Last Meals Of Innocent Men Who Were Executed

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Amnesty International last meal innocent executed

Amnesty International launched a jarring anti-capital punishment campaign that depicts the last meal requests of executed men who were later proved or presumed innocent.

One example is Cameron Todd Willingham, who was convicted and executed in Texas for starting a fire that killed his three daughters. Thirteen years later, the Texas Forensic Science Commission ruled that the evidence that supposedly proved the fire was caused intentionally as an act of arson was based entirely on "flawed science"— other scientists also claimed there was no evidence of arson. Willingham is presumed innocent.

For his last meal, Willingham requested tater tots, ribs, enchiladas, onion rings, and two slices of pie before he was put to death. The text reads, "If you can't stomach this, act," prompting people to sign a petition on Amnesty's Facebook page.

David Spence requested fried chicken, french fries, tea, coffee, chocolate ice cream, and a Coca-Cola for his last meal.



David Spence was executed in 1997 but presumed innocent in 2000.

Spence was charged and executed for the torture and murder of Kenneth Franks and Jill Montgomery, 18 and 17. The violent crime was thought to be the result of a botched murder-for-hire. No physical evidence linked him to the crime.

Following his execution, The New York Times wrote a piece that claimed, "Those who believe that David Spence did not commit the crime for which he died include the lieutenant, now retired, who supervised the police investigation of the murders; the detective who actually conducted the investigation, and a conservative Texas businessman who, almost against his will, looked into the case and became convinced that Mr. Spence was being railroaded."

A later report said that prisoners who testified against Spence in court were bribed with alcohol and conjugal visits.



Ruben Cantu asked for fried chicken and rice for his last meal.



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18 Secret Menu Items You Can Order At Fast Food Restaurants

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In and Out's Animal Style Fries

Companies are adding secret menu items as a way to connect with customers.

Panera Bread is currently figuring out how to "promote" its own hidden menu of breakfast salads, NPR reported. 

But secret menu items have existed organically for years. 

"If you have a secret menu or if customers know the secret menu, they feel like they're insiders," Bret Thorn, senior food editor of Nation's Restaurant News, told NPR. 

We've compiled a list of some of the most impressive (and horrendous) secret combinations that are out there today. They aren't always available at every location, but they're worth asking for next time you're ready to chow down.

Panera Bread's Power Breakfast salads

Panera actually went out of its way to manufacture a secret menu. 

The "Power Breakfast" items are a series of salads that aren't on the menu. 

Options include egg bowls with turkey and steak. 

See all the options here



McDonald's McGangBang

The McGangBang, a McChicken sandwich wedged between a double cheeseburger, is the holy grail for carnivorous fast food eaters.

While not available at all McDonald's locations, hungry customers can still get this triple meat treat by employing a little ingenuity and creative manipulation of regular menu items.

By taking two items off of the Dollar Menu, diners can create this super sandwich for just $2.16.



Chipotle's Quesarito

Many people don't realize that the fast casual Mexican food chain Chipotle offers a secret menu, featuring items like cheese quesadillas, nacho-filled burritos, and the Quesarito, a customized burrito wrapped in a cheese quesadilla.

But diners who are aware of these hidden treasures often trade in Chipotle's regular fanfare for these savory alternatives.

One reviewer recently exclaimed, "The Quesarito tastes like a toasted burrito but the quesadilla burrito wrapper provides a mouthful of warm, melted cheese in every bite."



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7 Eye-Popping Details From The TIME Cover Story On Health Care Costs

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Ellis Island Hospital

In a new Time Magazine cover story, reporter Steven Brill writes a rather lengthy piece about the huge problem with health care costs in the United States.

The piece, titled "Bitter Pill: Why Medical Bills Are Killing Us," goes in-depth on the big problems facing hospitals, insurance companies, and the pharmaceutical industry — with patients often bearing the burden.

It's a $2.6 trillion problem, according to 2010 data from The Kaiser Family Foundation — a health expenditure increase ten-times the $256 billion spent in 1980.

There is plenty of blame to go around: Rising prescription drug costs, administrative costs, and changes in the nature of illness. And unlike other industries, new medical technologies have pushed costs up rather than down.

Patient bills can be marked up by as much as 400 percent.

In the opening page, Brill introduces readers to Sean Recchi, who is diagnosed with non-Hodgkins lymphoma. Although Recchi and his wife Stephanie had insurance, it was not comprehensive, forcing them to pay the hospital almost $50,000 before Recchi was ever even seen by a doctor.

But the real problem came when the Recchis found out what the total cost for treatment would be: $83,900. 

Their bill is laden with medical terminology and incomprehensible numerical codes, but some things stick out. A single pill of 325 mg acetaminophen — a generic version of Tylenol — costs $1.50. You can buy 100 of those pills on Amazon.com for $1.49.

For a simple X-ray, Recchi was billed $283; Medicare would only pay just over $20 for the same service. A cancer wonder drug called Rituxan cost $13,702, a 400 percent markup from the average price paid by all hospitals for this dose. 

Source: Time



Routine services cost thousands of dollars.

Then there's "Janice S.," a 64-year-old woman in Stamford, Conn. who started feeling chest pains. One year shy of coverage under Medicare eligibility, she rode an ambulance four miles to the emergency room.

It turned out to be only indigestion, but the good news was tempered with a very large bill:

  • $995 for the ambulance ride.
  • $3,000 in doctors' fees.
  • $17,000 for the hospital.

That worked out to a total just under $21,000, which included charges for Troponin — a drug that measures levels of certain proteins in the blood — at a price of $199.50 each. If she could have held off having indigestion bad enough to cause chest pains for a year and had coverage, Medicare would have paid only $13.94 for the drug. 

Source: Time



'Non-profit' hospitals are often a city's most profitable business.

Non-profit hospitals enjoy a tax-exemption that gives them quite an edge over others. Brill writes:

... the American health care market has transformed tax-exempt “nonprofit” hospitals into the towns’ most profitable businesses and largest employers, often presided over by the regions’ most richly-compensated executives. And in our largest cities, the system offers lavish paychecks even to mid-level hospital managers, like the 14 administrators at New York City’s Memorial Sloan-Kettering Cancer Center who are paid over $500,000 a year, including six who make over $1 million.

In a survey looking at 2,900 non-profit hospitals conducted by McKinsey and Bank of America, the results reveal higher operating profit margins for non-profit hospitals than for "the 1,000 for-profit hospitals after the for-profits’ income-tax obligations are deducted. In health care, being nonprofit produces more profit."

Source: Time



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Big Beautiful Photos Of Google's New Touchscreen Laptop, The Pixel (GOOG)

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google chromebook pixel

Google unveiled its latest laptop today, the Chromebook Pixel. 

The Chromebook runs Google's Chrome operating System, which is pretty much just the Chrome Web browser. There's also a classic-looking desktop mode that stores icons for your Web apps.

The Pixel is marketed as a premium device and starts at a whopping $1,299, placing it in direct competition with high end Windows Ultrabooks and Apple's MacBooks.

The Chromebook Pixel comes with a massive 1TB of cloud storage space via Google's Drive service.

There is also a LTE version of the laptop available for $1,449.

The Chromebook Pixel is 16.2 millimeters thin.



...and it weighs in at 3.34 pounds.



Some specs: There are two USB 2.0 ports, a mini display port, and SD card port for more storage. You also get a 32GB solid state drive (64GB on the LTE version).



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HERE IT IS: David Einhorn's Massive Presentation On What Apple Should Do

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Greenlight Apple presentation

Hedge fund manager David Einhorn, the CEO of $8 billion Greenlight Capital, wrapped up an hour-long conference call about Apple.

Einhorn, whose fund owned ~1.5 million Apple shares at the end of the fourth quarter, has been taking aim at the tech giant's massive cash hoard.  

Einhorn has been urging Apple investors to vote "No" on Apple's Proposal 2 in its proxy later this month that will eliminate the company's ability to issue preferred stock.

During his call today, he laid out his plan for Apple.  Essentially, what he wants Apple to do issue perpetual preferred stock — what he calls "iPrefs." 

What's more is Einhorn said that Apple wouldn't even have to use that massive $137 billion cash pile, which he called a "war vault." 

"In the last week, Mr. Cook has called the idea 'creative,' and said that Apple would study the  proposal carefully.  We look forward to meeting with Mr. Cook and his team shortly," Einhorn said on the call.

We've included screenshots of his webcast presentation in the slides that follow. 





"We’re going to start with how conventional thinking has led Apple and other large tech companies into having such bloated balance sheets. We’ll talk about the usual solutions, and why they don't align well with Apple's priorities. Then we're going to walk you step by step through our idea."



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Al Qaeda's 22 Tips For Avoiding Drone Detection

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DroneLocal Timbuktu mat-seller Leitny Cisse al-Djoumat couldn't hide his shock at the sheer amount of mats these strange fellows bought.

"It's the first time someone has bought such a large amount," al-Djoumat told the Associated Press. "They didn't explain why they wanted so many."

Well, AP reporters later figured it all out when they found a xeroxed copy of 22 tips to avoid drone detection.

We've put together the list, which serves as critical intel al-Qaeda in Mali.

(The items have been lightly edited for clarity.)

Use devices that broadcast frequencies or pack of frequencies to disconnect the contacts and confuse the frequencies used to control the drone. "The Mujahideen have had successful experiments using the Russian-made 'Rascal.'"



Spread the reflective pieces of glass on a car or on the roof of the building.



Place a group of skilled snipers to hunt the drone, especially the reconnaissance ones because they fly low, about six kilometers or less.



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40 Obvious And Painless Ways For The US To Cut Its Budget

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jeff neely gsa las vegas bathtubThe U.S. government is one week away from the sequester deadline, when $1.2 trillion of across-the-board spending cuts will go into effect. 

The budget slashing is set to hit everything from NASA to food inspectors, and members of both parties are alternately playing the blame game and trying to come up with a solution to avoid the cuts. 

Still, it's worth noting that there are some things the government spends money on that could definitely go. 

Each year, the conservative Heritage Foundation combs through the budget and points out some particularly egregious expenditures and redundancies.

Here are forty cuts they've identified that the government can totally afford to make. 

The government wasted $115.3 billion in improper payments, paying money either to the wrong person, in the wrong amount, or for the wrong reason.

Source: Heritage Foundation



Amtrak lost $84.5 million having food and beverage services, a total of $833.8 million in 10 years. It has never broken a profit on serving food.

Source: Heritage Foundation



The Conservation Reserve Program of the Department of Agriculture pays farmers $2.1 billion every year not to farm in order to reduce soil erosion.

Source: Heritage Foundation



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Someone Sent Us 2 Bottles Of Wine Wrapped In Shredded Dollar Bills

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wine

Folks in our newsroom get promotional packages from PR representatives on a daily basis.

Most of it is junk that winds up on our office kitchen table, untouched.

But today we got one from a winery called Cecchetti Wine Company that we actually thought was pretty funny.

Here's why it worked (and no, not because it included two bottles of wine).

The return address and heavy weight of the package tipped us off pretty quickly that we'd been sent wine. But the heavy cardboard box felt nice.



Austerity — what kind of name is that for a wine?



A quote from Buffett, and an addendum from the owner of the wine company. Nice touch.



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10 Resorts Where American Blue Bloods Go To Escape

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Vanderbilt Grace, Newport oyster

Want to live like a Rockefeller on your next vacation?

Or want a voyeuristic peek into the world of the rich and powerful?

These iconic resorts across the country — from a Gilded Age Palm Beach estate to a Newport mansion to a Long Island Gold Coast castle — will make you feel like your blood runs blue.

Click through to see where American royalty stay and play.

The Breakers Palm Beach, Florida

There’s a reason The Breakers’ reputation precedes it.

This 140-acre resort, first built in 1896 (and reconstructed in 1926), resembles a Renaissance palace, and it’s seen more than it’s fair share of American royalty over the years; Andrew Carnegie, J.P. Morgan, William Randolph Hearst, and various Astors, Rockefellers, and Vanderbilts have all walked the halls at this posh spot.

No other hotel in Palm Beach can come close to matching the luxury found at this iconic property.

Get a closer look at The Breakers Palm Beach.



The Plaza, New York City, New York

This New York hotel is synonymous with luxury, and has carved out a prominent place in 20th-century culture.

Truman Capote threw his famous Black and White Ball here; in North by Northwest, Cary Grant was captured by spies in the hotel’s famous Oak Bar; and F. Scott Fitzgerald staged part of The Great Gatsby here.

When The Plaza first opened its residences, Mr. and Mrs. Alfred Gwynne Vanderbilt were the first to sign up.

Get a closer look at The Plaza, New York City.



Chatham Bars Inn, Cape Cod, Massachusetts

The Cape has long been a cherished spot for the American rich to summer, and the Chatham Bars Inn has been drawing America’s wealthy and powerful since it opened in 1914: Past guests include Henry Ford, Henry Morganthau, and William Rockefeller.

The true Cape-Cod style architecture is complemented by lovely interiors— upholstered wingback chairs, antique-style turned-leg furnishings, and seafaring decor.

Get a closer look at the Chatham Bars Inn.



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The Awkward Way People Flirt On Tinder, A Very Popular Dating App

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flirt schmooze talkIt's always nerve-wracking the first time you talk to an attractive stranger.

Tinder is a new mobile app that's used by millions of people to meet singles nearby. It's the equivalent to Hot or Not, but if both Tinder users find each other attractive, they're allowed to start sending text messages. More than 35 million Tinder profiles have been rated on the app.

Whoever sends the first message to the attractive stranger needs to come up with something pretty creative to get a response.

We polled friends for their best and worst Tinder pick-up lines.

Here are the lines that either failed or succeeded spectacularly.

Some people just want to make sure that little kid in one of your photos isn't actually yours.



Some try to get the ball rolling with a question. Which Disney princess would you be?



And, would you rather fight one horse-size duck or 1,000 duck-size horses?



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GOLDMAN: Hedge Fund Managers Love These 50 Stocks

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butterflies

Goldman Sachs recently released its Hedge Fund Trend Monitor, a massive report detailing the fourth quarter investment moves made by the world's biggest hedge funds.

The big news was that Apple lost its spot as hedge funds' favorite stock.

Believe it or not, Apple got dethroned by AIG, the beleaguered insurance company that was at the center of the financial crisis.

AIG and Apple are constituents of Goldman's "Hedge Fund VIP (Very-Important-Positions)," a basket of 50 stocks that "mattered most" to hedge fund managers.  The all of the stocks rank among the top ten holdings of many of the biggest funds.

"While Very Important Positions that “mattered most” surged 23% last year, the typical fund returned just 8%, lagging the S&P 500 by over 800 bp," wrote Goldman.

50. Realogy Holding Corp.

Ticker: RLGY

No. of funds with stock as top 10 holding: 13

Sector: Real estate services

Equity cap: $6 billion

Percent of equity cap owned by hedge funds: 77%

Total return, over the past year: 8%

Source: Goldman Sachs



49. Pioneer Natural Resources

Ticker: PXD

No. of funds with stock as top 10 holding: 13

Sector: Oil and gas exploration and production

Equity cap: $16 billion

Percent of equity cap owned by hedge funds: 14%

Total return, over the past year: 22%

Source: Goldman Sachs



48. MetroPCS Communications

Ticker: PCS

No. of funds with stock as top 10 holding: 13

Sector: Wireless telecommunications services

Equity cap: $4 billion

Percent of equity cap owned by hedge funds: 31%

Total return, over the past year: 3%

Source: Goldman Sachs



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The Best Apps To Organize Your Home (AAPL)

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messy room

Daily life is tough enough.

Why not use some apps to relieve the burden, even if it's just a little bit?

From inventory apps to souped-up to-do lists, these are the best apps for managing your household.

Home Inventory

This app lets you build an inventory of the items in your house, saving all kinds of pertinent data like model numbers and serial numbers. Use it to save receipts and add any other info you might need on a given item. It's a good way to know just what's in your house and an awesome tool to have if you're making an insurance claim.

Price:$19.99



Brightnest

We've previously profiled BrightNest, a free web-based tool to help you optimize your house and make it safer, cleaner, and more affordable. It will periodically remind you when it's time to do tasks like clean out the fridge or test your fire extinguishers.

Price:free



TaskRabbit

Just hire someone to come clean and organize your house for you. TaskRabbit will get you in touch with someone ready, willing, and able to do that for a fee.

Price:varies



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Prince Harry's Girlfriend Is NOT A Burberry Model Or A Serious Actress

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Cara Delevingne French Model for Burberry

Yesterday, the story broke that Prince Harry is dating British socialite/actress/model Cressida Bonas.

cressida bonasThat's an impressive résumé for a 24-year-old college grad.

The only problem is, it doesn't appear to be true.

The Daily Mail, The Christian Post, The Telegraph, and The Mirror UK have all reported that Bonas was a Burberry model and fledgling actress.

 But when we reached out to the luxury brand, a representative for the company told us that "Cressida has never been associated Burberry."

The confusion most likely stems from July 2012 when The Daily Mail reported that Prince Harry was seen leaving London nightclub Salon with actual Burberry model Cara Delevingne.

But The Mail got it wrong: The woman leaving the club (and the picture accompanying the article) was none other than Cressida Bonas.

It's an honest mistake. The British socialite and French model look eerily similar, and it's unsurprising they were confused for one another. Both women are gorgeous 20-somethings with pale skin, dark eyebrows, and long blonde hair.

But just to be clear: Cara Delevingne is a Burberry model. Cressida Bonas is not.

Cressida isn't much of a serious actress either — the only acting experience we could find was when she performed the role of Desdemona in Othello while attending Leeds University.

Her half sister Isabella Gough-Calthorpe, however, is a fairly well-known British actress.

SEE ALSO: Prince Harry Is Dating A Gorgeous Socialite Named Cressida Bonas

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A Developer Found A Hole In Facebook's Security That Gave Him Access To Every Account (FB)

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zuckerbergA developer found a way to access any and all Facebook accounts. He reported this to Facebook, which responded by fixing the problem.

Developer Nir Goldshlager found a flaw in Facebook's code that allowed him to take full control over any Facebook account.

"By exploiting this flaw I could steal unique access tokens that provides me full control over any Facebook account," Goldshlager writes in a blog post.

He says the flaw gave full permission allowing access to the messages inbox, outbox, page management, ad management, and private photos and videos.

Click here to see how he did it >

Goldshlager said that the flaw even allowed access to accounts that are protected with 2-step verification.

Fortunately, Goldshlager reported the broken code to Facebook, which has now fixed the problem.

A Facebook PR rep told us:

We applaud the security researcher who brought this issue to our attention and for responsibly reporting the bug to our White Hat Program. We worked with the team to make sure we understood the full scope of the vulnerability, which allowed us to fix it without any evidence that this bug was exploited in the wild. Due to the responsible reporting of this issue to Facebook, we have no evidence that users were impacted by this bug. We have provided a bounty to the researcher to thank them for their contribution to Facebook Security.

He even gives step by step instructions of how he made the exploit work.

just to clarify there is no need for any installed apps on the victim's account, Even if the victim never allowed any application in his  Facebook account, I could still be getting full permissions (This bug works on any browser)

To make this exploit work, The victim only need to visit a webpage,
So OAuth is used by Facebook to communicate between Applications and Facebook users, Usually users must allow/accept the application request to access their account before the communication can start.

Any Facebook application might ask for different permissions.

The "victim" must have Facebook applications installed. Goldshlager uses Diamond Dash and Texas Holdem Poker as examples...



This part gets complicated but it has something to do with the domain of the app and Facebook OAuth, which is what Facebook uses for authorization.



Next, Goldshlager got blocked with a general error message, but he didn't stop there...



See the rest of the story at Business Insider

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