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The Best Places For Guys To Shop

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The Best Places for Men to ShopWe recently asked you to vote for the best places for guys to shop.  

The results are in, and we're ready to reveal where men like to get their apparel and accessories. 

Classic brands won out overall, though several newcomers in the e-commerce category had strong showings. 

J. Crew and Banana Republic were clear winners in several categories, revealing the trend that people are willing to pay more for items they think are high-quality. 

The popularity of e-commerce wasn't surprising considering 39% of readers said they preferred shopping online to any other venue. 

More than 850 Business Insider readers took the survey. Of the respondents, 96% were male, and most were between the ages of 21 and 30 and lived in urban areas.

Best work pants: Banana Republic (40%).

J. Crew came in second place with 27% of the votes. E-commerce site Bonobos was also popular, capturing 15% of the votes. Other options included Express (8%), Gap (6%), and Club Monaco (5%). 

 



Best Button-Down Shirts: J. Crew (44%).

J. Crew emerged as the favorite place for shirts, probably in part because of its large selection. Banana Republic scored high (31%), followed by H&M (9%), Johnston & Murphy (8%), Topman (4%), and Gap (3%). 


Best Suits: Brooks Brothers (35.3%).

Our readers prefer quality: the classic menswear brand narrowly defeated Hugo Boss (34.8%). Other options were Men's Wearhouse (11%), online retailer Suit Supply (11%), and Jos. A. Bank (8%). 



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21 Buildings You Need To See In Your Lifetime

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golden temple kyoto

The first buildings were built some 12,000 years ago

We've come a long way since then — creating temples to our gods, houses for our operas, and museums for our art that rival nature's beauty.

Here are 21 buildings you need to see before you kick the bucket.

The Burj Khalifa in Dubai, UAE, is the world's tallest building, standing at 2,717 feet.



You can see why the National Center for the Performing Arts in Beijing gets its nickname, 'The Egg.'



The City of Arts and Sciences in Valencia, Spain, houses an aquarium, an opera house, and an IMAX theatre all in one.



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Why You Should Never Thaw Frozen Steaks Before Cooking Them

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thawed steak versus frozen steak America's Test Kitchen

Cooking with fresh beef will always be the ultimate way to prepare a steak, but it turns out that using a frozen steak is your next-best option.

That’s according to Dan Souza, a Cook’s Illustrated senior editor. He experimented in America’s Test Kitchen (first spotted by Food Republic) with eight strip loin steaks cut in half. He froze the steaks, then thawed a half of each steak in the fridge over night, keeping the other side frozen.

Souza then seared both sets of steaks in a hot skillet for 90 seconds on both sides before transferring them to a 275-degree oven until they were cooked to medium rare (125 degrees).

His team discovered that the frozen steak not only lost less moisture and cooked more evenly, but it also tasted better than its thawed counterpart. The frozen steak had a much thinner band of overcooked meat (known as a “gray band”) surrounding the pink interior than the thawed beef, too.

thawed steak versus frozen steak America's Test KitchenThe frozen steaks also browned nearly as fast as the thawed steaks in the skillet, though they did take 18 to 20 minutes of cooking time in the oven (compared with 10 to 15 for the thawed steaks).

Of course to get these results, the steaks need to be frozen properly. Simply storing them in a bag can cause ice or moisture to form on the steak, which can in turn cause flare-ups when you’re searing the steak in oil. 

Instead, Souza said the best way to freeze the steaks was to set them on a baking sheet lined with parchment. Once they’re fully frozen, wrap each steak in plastic wrap and put them into a plastic bag.

Watch the video below to see how frozen steak trumps thawed steak.

Full instructions below (recipe here):

  • Heat skillet filled 1/8 inch deep with oil

  • Sear until browned (90 seconds per side) 

  • Transfer to wire rack set in rimmed baking sheet

  • Cook in 275-degree oven until desired doneness (18 to 20 minutes for a 1-inch-thick steak)

SEE ALSO: I'm No Chef, But Here's How I Made The Perfect Steak At Home

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7 Things We Know So Far About 'Interstellar'

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Matthew McConaughey, Christopher Nolan, InterstellarStrange as as it may seem, we've seen a surprising number of original science-fiction films emerge over the last few years.

From Chronicle to Looper to Elysium to Gravity, studios have begun taking a chance on interesting filmmakers with big ideas.

Later this year we will see a continuation of this pattern with the release of the new blockbuster epic Interstellar.

But what do we actually know about the film so far? Who will star in it? How is it being filmed? To keep you up to date on all of the Interstellar movie's developments, we’ve constructed another one of our What We Know So Far guides. What’s the deal with Interstellar?

Everything we know about Christopher Nolan's new movie >

Christopher Nolan Is Directing

He started getting attention with his first feature, Following; broke out with his second, Memento; became an A-list director with the help of Batman Begins; and brought started bringing big ideas to the blockbuster stage with Inception. In a strange way it seems like Christopher Nolan’s entire career has been leading up to the making of Interstellar.

The British filmmaker officially signed on to direct the film in March of last year, and it will be the first time that his films take us beyond the boundaries of Earth. Like he did with both The Dark Knight and The Dark Knight Rises, he is using IMAX cameras to shoot a great deal of footage – including some shots involving a Learjet



The Script Was Written By Nolan's Brother, Jonah

Interstellar is an immensely high-profile project thanks to Christopher Nola's involvement, but the truth is that he actually isn’t the first A-list filmmaker to be attached to the long in-development film. Jonah Nolan, Christopher’s brother, first started working on the script back in 2007 when Steven Spielberg was going to helm. Back then the movie was devised as a sci-fi epic about wormholes and time travel, but since Christopher Nolan became attached it’s been said the screenplay has received a bit of a tweak. 

In January of last year it was reported that Christopher Nolan would be combining his brother’s script with another idea he has been developing for a long time, and while it’s unclear what those changes were, they will certainly be revealed as we get closer to the release date and the filmmaker opens up about his process crafting the movie.



Matthew McConaughey Will Star

A big reason why Matthew McConaughey has been able to turn his career around is because of his commitment to working with the best of the best filmmakers. In the past few years he has been working alongside the likes of Richard Linklater, William Friedkin, Jeff Nichols, Steven Soderbergh, and Martin Scorsese, and the reward has been excellent parts in exceptionally interesting projects (plus an Academy Award).

He continues his streak of working with the best of the best by teaming with Christopher Nolan on Interstellar. Our lack of knowledge about the plot prevents us from knowing any concrete details about the part McConaughey will play in the movie, but he is playing the lead role



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Stunning Photos Of Europeans Who Have Abandoned Civilization To Live Off The Land

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Back in 2010, French photographer Antoine Bruy began hitchhiking around Europe without any fixed route. Along his travels, he met people who had entirely abandoned city life in favor of an isolated country existence they found more fulfilling. 

Bruy began seeking out people who lived off-the-grid. After three years on the road, staying in makeshift houses and on community farms, he has released Scrublands, a documentation of the lifestyle. While each living situation is different, Bruy found that all the people he met shared a common desire to escape the rat race and achieve a quieter life in harmony with nature. 

Bruy shared a number of photos from Scrublands here, but you can check out the rest on his website. Bruy is currently running a crowdfunding campaign to continue his project in the United States, which you can donate to here.

Over the last 30 years, numerous Europeans have begun to move out of the cities and head for sparsely populated areas like the Sierra de Cazorla mountains in Spain (shown here), the French Pyrenees mountains, and parts of Switzerland. Bruy began meeting such people after volunteering at farms through WWOOF, an organization that places traveling volunteers at organic farms throughout the world.



This property in the French Pyrenees is owned by a German man, who moved with his family here 25 years ago. He has since renovated the shack to be a completely self-sufficient house. There are no electrical appliances, but the solar panel powers small lights in the house.



Although his family has left, the German continues to live here with four other people and a revolving door of 20 or so travelers.



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Take A Look Inside Porsche's Stunning Secret Warehouse

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Porsche's Secret Warehouse Car Magazine

A few blocks away from Porsche's swanky museum in Stuttgart, Germany sits a plain and rather unremarkable warehouse whose contents are anything but unremarkable. The facility is where Porsche stores many of its most coveted prototypes and race cars.

Porsche intends to keep the warehouse hidden from public eyes. Fortunately, Car Magazine's editor-at-large, Chris Chilton, not only got a sneak peak, but also shot video inside the closely guarded facility. 

The video, which has been posted to YouTube, is part of a larger story on the warehouse from the magazine's August 2014 issue

In the facility, Porsche keeps everything from design studies to failed prototypes to the all-conquering race cars that propelled the company to mythical status in the motorsports community.

The warehouse stores its priceless contents 'Costco' style, with cars like this early 1990s 968 convertible parked in the aisle alongside racks of 911 and 944 sports cars.



Other Porsches are neatly tucked away under wraps...



The warehouse also houses some of Porsche's most famous race cars, from the brand's illustrious motorsports history. That includes 16 outright victories at the 24 Hours of LeMans and a pair of Formula 1 championships with McLaren.



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How Jony Ive Became One Of The Most Influential Designers In The World (AAPL)

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Jony Ive Apple Portrait Illustration

Jony Ive, Apple's senior vice president of design, turned down a job at the company before being hired in 1992. Now, more than two decades later, he's among the most powerful people at the company. 

Ive is responsible for designing Apple's most iconic products, from the original iMac to the iPod to the first iPhone.

His design philosophy has not only shaped Apple's gadgets, but entire product categories throughout the industry too.

As Apple gears up to release its new mobile products this fall, here's a look at how Ive came to be one of today's most influential designers. 

Ive exhibited a deep curiosity about how things worked when he was a child. He would dismantle radios to learn about how they were put together and how the pieces fit.

Source: Leander Kahney, “Jony Ive: The Genius Behind Apple’s Greatest Products”



Ive drew much inspiration from his father — a skilled silversmith. His favorite Christmas gift from his father was unlimited access to his workshop for one day.

Source: Leander Kahney, “Jony Ive: The Genius Behind Apple’s Greatest Products”



Ive received his Bachelor of Arts from Northumbria University, which was then called Newcastle Polytechnic, where he studied industrial design.



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The Colleges With The Highest SAT Scores

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High school students across the country compete each year for spots at the most selective universities. They need high GPAs and well-rounded extracurricular activities on their resumes, but a stand-out SAT score is crucial to get into a top school, and could even make or break an application.

We compiled a list of the 25 colleges with the highest SAT scores. This 2013-2014 preliminary data came from the National Center for Education Statistics (NCES). The NCES data gave us the 25th and 27th percentiles for each test section, which we then averaged and added up to get the average overall score for each school.

25. (TIE) Carleton College

Average SAT Score: 2135

Critical Reading: 705

Math: 725

Writing: 705

Carleton College is a highly ranked liberal arts school in Northfield, Minnesota, with about 2,000 undergraduate students.



25. (TIE) Carnegie Mellon University

Average SAT Score: 2135

Critical Reading: 690

Math: 745

Writing: 700

Carnegie Mellon has an urban campus located in Pittsburgh, Pennsylvania, and accepts just 27.8% of its applicants.



23. (TIE) Amherst College

Average SAT Score: 2155

Critical Reading: 715

Math: 725

Writing: 715

Amherst College in Amherst, Massachusetts, is ranked No. 2 among liberal arts colleges in the U.S., according to U.S. News.



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LaGuardia Airport's Stylish New American Express Lounge Is Fantastic

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American Express Centurion Lounge The American Express Centurion Lounge is something entirely different for travelers passing through New York's LaGuardia Airport. Located inside Terminal B (home to American, United, Southwest, Jet Blue, Air Canada, Spirit, and Frontier Airlines), the swanky enclave is a drastic departure from the often drab domestic lounges that populate most major airports around the country.

In addition to the stylish setting, the Centurion also signals a major upgrade in culinary fare for LaGuardia's domestic rest stops. Visitors will be treated to a variety of fine dining options, specially paired wines, and signature cocktails. 

Like most airport lounges, access to the Centurion comes at a price. All American Express card holders may drop in by buying a $50 day pass. If you hold a Platinum or Centurion cards, however, membership is included. 

Business Insider got a sneak peak of the lounge, which is expected to open later this month. 

The Centurion Lounge is on Level 3 of Terminal B. It's located before the security checkpoints, so passengers from other terminals can drop in.



The LaGuardia location will be the third Centurion Lounge in the U.S., joining lounges at Las Vegas McCarran International and Dallas/Ft. Worth International that are already in operation.



Instead of over-the-top opulent, the lounge is stylish and comfortable. The design is chic, modern, and tastefully restrained.



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Here's The Outrageous Proposal To Build A Tramway To The Bottom Of The Grand Canyon

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grand canyon

A new construction project being proposed for the eastern rim of the Grand Canyon has conservationists, members of the Navajo tribe, and nature lovers across the United States up in arms.

The project, known as the Grand Canyon Escalade, would create a large tourist area on the rim of the Canyon, complete with shops, restaurants, and hotels. It would also boast a tramway that would take visitors on a gondola ride to the canyon floor. There, they would access a riverwalk with an ampitheatre and another restaurant.

Proponents of the development argue that the project would allow visitors unprecedented access to the Canyon basin, an area they argue is currently inaccessible to less adventuresome tourists. They also say it will create more jobs and revenue for the Navajo people, who control the 420 acres and who are desperate for an economic boost. 

Protestors of the plans, however, say the project would be built on sacred lands and endanger the resources and ecosystem of the fragile Canyon. They also say that the Grand Canyon is a national treasure, one which would be irrevocably blighted by the construction of such a tourist complex. 

The proposed development would be built at the site known as the Confluence, where the Colorado and Little Colorado Rivers meet.



The development on the rim will include retail and gift shops, fast food and finer dining restaurants, a museum, a hotel and multiple motels, a lodge with a patio, and ample parking for both cars and RVs, according to the Grand Canyon Escalade's website.



It would be built on currently untouched land. Developers are hoping to open the complex by 2018.



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11 Ways To Make Your PC Run Faster (MSFT)

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woman on laptop working computer

Computers are notorious for slowing down with old age, but there are a few tips and tricks to give them a speed boost.

From small tweaks to your settings to purchasing some new RAM, there's plenty of options for everyone's budget and skillset.

So before you toss your computer aside for a new one, try out these suggestions to get your PC chugging along again.

Run cleanup programs frequently.

CCleaner is an amazing app that will help you find and delete caches and temporary files in many of your applications. You can download CCleaner here.

 



Remove unnecessary visual effects and animations.

Yes — some of these things you'll be removing make your operating system look nice, but wouldn't you rather have a speedier computer?

On Windows 7, try disabling the pretty albeit resource-hungry "Aero" theme. Right click your desktop and then click "Personalize." Choose the "Window Color" tab and then uncheck "Enable transparency."



Update and use your antivirus software.

Viruses and malware can bog down your computer in a hurry, so it's best to prevent them in the first place. If you're using a free trial of antivirus software whose notifications are as annoying as a virus itself, uninstall it and try using Microsoft's free Security Essentials antivirus software, which won't bombard you with ads.

To stay diligent, try scheduling daily quick scans and weekly full scans.

 



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In Memory Of Robin Williams, Here Are 10 Of His Best Moments On Film

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robin williams good will hunting

Actor and comedian Robin Williams died Monday at his home in California in an apparent suicide. He was 63.  

Williams, who got his breakout role in the 1978 sitcom "Mork and Mindy," had an incredible range. 

The talented star made us laugh in movies like "Mrs. Doubtfire" and won best supporting actor at the 1998 Oscars for the character he portrayed in the drama "Good Will Hunting."

In memory of Williams, we've compiled some of his best moments on screen that display both his comic genius and ability to make us cry. 

In "Moscow on the Hudson" (1984) Williams plays a Russian sax player who comes to New York City. His comic skills shine in the grocery store scene where his character Vladimir Ivanof is overwhelmed by the variety of coffee selections.

(This video may take a moment to load.) 



Williams demonstrates his range of on-screen personalities starring as a radio D.J. in the film"Good Morning Vietnam" (1987) for which he earned an Academy Award nomination.



Williams' "seize the day" speech in "Dead Poet's Society" (1989) also led to an Oscar nod. In the movie, Williams plays an inspirational English teacher, John Keating, who famously tells his students: “Now in this class you can either call me Mr. Keating, or if you’re slightly more daring, O Captain My Captain.”



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Here's What $5 Million Buys In Housing Markets Across The Globe

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Tuscany 5 million home

If you're looking for a pricey vacation home for the end of summer, we've checked out what $5 million can get you in real estate around the world. 

Our friends at Point2Homes helped us find everything from a tiny apartment in Monte Carlo to a 16,000-square-foot mansion in Qatar. 

Needless to say, $5 million should get you pretty far no matter what city you live in.

In Singapore, $5 million buys a 6,000-square-foot, semi-detached home with five beds, five baths, and a pool.

Price: $5,038,790 (6,300,000 SGD)

Click here to see the home.

 



In Moscow, for $4.94 million you can get a furnished home with eight beds, eight baths, a pool, and an elevator in a 7,427-square-foot house.

Price: $4,943,779 (179,042,740 руб)

Click here to see the home.

 

 

 



In San Francisco, for $4.95 million you can get a 3,426-square-foot townhouse with three beds, a zen garden, and a roof deck with water views.

Price: $4,950,000

Click here to see the home.

 



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Take A Look Inside These Million Dollar Homes In A California Trailer Park

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Paradise Cove Malibu residents aren't only clamoring for palatial mansions with gated entries — many have been forking over millions for mobile homes in a trailer park.

But this isn't your run-of-the-mill trailer park. The pristine location of Paradise Cove Mobile Home Park, set on a cliff side along the Malibu beach, means these trailers are selling in the millions

Paradise Cove mobile home park was built in the early 1960s as a beach rental vacation spot, and at the time had only 71 homes. A decade later, the park was sold to the infamous Kissel developers, who built 200 more spaces.

Paradise CoveToday, the park comes with some major perks. It's a community with 270 homes, all with direct access to the private beaches of Point Dume. Some of the trailers even have superb ocean views.

All the residents also have access to a large clubhouse, tennis court, basketball court, and children’s playground.

Paradise CoveOne of these homes recently hit the market for an all-time high of $3.75 million, according to the Wall Street Journal. The four-bedroom home was 2,200-square-feet with a hot tub and two-car garage. 

Paradise CoveAnother home that sold for $1.275 million included a fireplace and walk-in closet in the master bedroom, plus stone bathrooms, multiple decks, and a spa.

Paradise Cove The park attracts more upscale residents. One couple who retired from the film industry purchased a two-bedroom, 1,800-square-foot trailer for $1.25 million dollars. Actors Matthew McConaughey and Pamela Anderson were even residents of Paradise Cove at one point.

Paradise CoveAnd while these properties may not look like the average trailer home, "all of them have a trailer axle hidden somewhere underneath and can be moved, at least technically,"according to the Wall Street Journal.

Paradise Cove

SEE ALSO: 21 Buildings You Need To See In Your Lifetime

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12 Insightful Quotes About Cars From Jay Leno

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Jay Leno EcoJet AP

Former "Tonight Show" host and comedy legend Jay Leno is one of the most prominent car guys in the Hollywood. Housed in a series of airplane hangars at Burbank Airport, his collection of over 200 cars and motorcycles are the envy of many around the world. Not only does Leno drive the cars, but he, along with a team of mechanics, also help to maintain and restore many of his priceless collection. In addition, the late night legend also possesses a near encyclopedic knowledge of automobiles and its history.

Recently, Business Insider had the chance to chat with Leno, and he imparted some of his automotive wisdom.

On what draws him to a particular car

"I like cars that are ahead of their times, and that were noble failures because they were built to a higher standard than the consumer needed. Cars like the Wills Sainte Claire or the Duesenberg."* 

*Wills Sainte Claire and Duesenberg were two upstart car companies from the 1920-30s who technologically advanced cars.



On safety regulations

"Corporations complained about [safety] regulations, but let's face it, people walk away from accidents now that would have killed them when I was a kid"



On how society will adapt to future challenges

"I believe engineers will save the world."



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The 20 Most Inspiring Companies Of 2014

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Many companies make it a priority to give back to their communities, whether it's a core part of their missions or not.

This year we've seen many companies go above and beyond to protect the environment, help the less fortunate, and solve some of the world's biggest problems.

We found 20 of the most inspiring companies based on their actions for good this year. These inspiring institutions, listed alphabetically, are role models for their efforts in social responsibility.

Brilliant Earth sells conflict-free diamonds and other precious stones.

Inspired by the owners' struggle to find a conflict-free engagement ring, Brilliant Earth was founded in 2005 in San Francisco to provide those seeking beautiful, ethically sourced jewelry with a place to get it.

Brilliant Earth is dedicated to socially and environmentally responsible sourcing of precious stones. The company makes careful partnerships only with suppliers who adhere to strict labor and environmental standards when it comes to mining gems. Brilliant Earth also donates 5% of profits to benefit communities harmed by dirty practices in the jewelry industry.



Cisco brings the internet to victims of natural disasters.

Cisco's Tactical Operations ("TacOps") team always has one eye on the weather report, ready to re-establish internet and phone connections in areas affected by natural disasters.

The team works globally, not just in the U.S. When Typhoon Haiyan hit the Philippines last November, Cisco sent in 10 paid and another 300 or so volunteer employees to make sure rescue workers had the technical connections they needed to complete their work. Cisco covers all costs associated with work done by the TacOps team.



Colgate-Palmolive is committed to reducing its carbon footprint.

In 2011, Colgate developed a four-year sustainability strategy that has gained the company worldwide recognition for its commitment to people and the planet.

Colgate has reduced its water use by nearly 33% and its greenhouse gas emissions by about 16% per ton of production. The company also partners with Water for People, an organization that brings clean drinking water to thousands of people in India and Guatemala who would not otherwise have access.



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15 Rich And Famous People Who Were Once Homeless

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halle berry

Before they rose to fame, many of the world's wealthiest and most recognized celebrities struggled for money.

And some weren't just poor — they were homeless. 

Here are 15 incredible stories of famous people who at some point in their lives had nowhere to sleep but the streets. 

They all eventually turned their lives around, becoming an inspiration to anyone who dreams of a professional career, despite starting from nothing.

Jim Carrey once lived out of a VW camper van and in a tent on his sister's front lawn.

Yahoo reported that the comedian dropped out of high school and lived in a VW bus with his family parked in different places throughout Canada. They eventually moved into a tent on his older sister's lawn and parked the van in the driveway.

Carrey said it was during these tough financial times growing up when he developed a sense of humor. 



Oscar winner Halle Berry once stayed in a homeless shelter in her early 20s.

When she first moved to Chicago to become an actress, Berry ran out of money, and her mother decided the best thing would be to not send her daughter more cash. 

During these struggling times, the actress acknowledges, she stayed in a homeless shelter.

In an interview with Star Pulse, Berry said:

It taught me how to take care of myself and that I could live through any situation, even if it meant going to a shelter for a small stint, or living within my means, which were meager. I became a person who knows that I will always make my own way.



America’s most famous psychologist once lived in a car with his father.

According to BusinessPundit.com, when Phil McGraw (Dr. Phil) was 12 years old, he was homeless and living in a car in Kansas City with his father, who was interning as a psychologist.

McGraw later went on to obtain his own bachelor’s, master’s, and Ph.D., and he joined his father’s psychology practice in Texas.

In the 1990s, Oprah Winfrey invited McGraw to appear on her show. He later became a regular on “Oprah” and eventually launched his own syndicated advice program. 

Today the author and TV personality is worth an estimated $280 million.



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5 Things To Do Before You Invest In New York City Real Estate

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new york city manhattan skyline

New York City is one of the most stable real estate markets in the world because it is both highly transparent and under-leveraged.

As a result, it's a hot location for people looking to invest in property who don't necessarily plan to live there.

“Everyone has access to the same inventory,” Wei Min Tan, a Manhattan condominium buyer's broker for real estate firm Rutenberg Realty NY, explained to Business Insider. “In a lot of countries the market is not so open and only one broker may have access to those listings. Here, everyone has the same access.”

And in order to buy, you must be a good fit financially. “To own property in NYC, you have to be financially responsible,” Jarrod Randolph, founder of JGR Property Group, told us. “And when I say responsible, it’s more than just having the money in the bank.”

Both Wei Min Tan and Jarrod Randolph specialize in crunching the numbers for their high net-worth clientele to help them make the most informed investments in Manhattan real estate.

And while they both represent some very wealthy foreign buyers, their advice holds true for everyone investing in New York City residential properties. Here are five things you should know before you invest.

1. Condo Vs. Co-op

The biggest question buyers face is co-op versus condominium.

“The majority of property in NYC is cooperative,” Randolph said. “A very simplistic breakdown is that on the island of Manhattan, there are 847,000 residential units. Only 22.7% are privately held. That’s roughly 192,000 units — that’s it. Of that 192,000, two-thirds (or 128,000 units) are cooperative. And the other 64,000 are condominiums and townhouses.”

Because there are more co-ops, they are usually significantly cheaper (by as much as 30% to 40%). But cost isn’t everything. The approval process and rules for a co-op are much more strict than for a condo, requiring proof of net worth, liquid assets, tax returns, and brokerage statements, not to mention a down payment of at least 20% of the purchase price.

“With condos, there’s a lower barrier to entry, and they’re not as stringent,” Randolph said. “They also have the flexibility — you can rent to whoever you want, you can sell without issue. It’s an easier format for ownership.”

Of course, stringent requirements aren’t necessarily a negative. Strict entry rules generally mean your neighbors will be financially secure.

The major downside with co-ops is that they can be hard to rent out. “A condo may be more expensive, but a condo let’s you rent it out whenever you want and it doesn’t require board approval,” Tan told us.

If you’re going to buy a condo, your best bet is to invest in a new development. “It appreciates disproportionately higher to the rest of the market,” Randolph explained. “There’s no barrier to entry, plus the business economics are more stable, appliances are warranted, and it’s usually higher quality.”

But buyers have to act fast to get a new condo. Of the 64,000 condos in Manhattan, Randolph told us only about 10% of that marketplace is considered “new development” (property built in the last 5 years).

times square new york city 22. Know Your Neighborhood

Location is important, but don’t worry too much about neighborhoods, especially if you’re investing in Manhattan properties where many zip codes are considered prestigious.

This is especially important for foreign buyers who plan to rent their properties out. “Most of my foreign buyers only know a few locations,” Tan said. “They know Times Square, Fifth Avenue, Central Park, and Wall Street. But just because an apartment is in Times Square doesn’t mean it’s going to be desirable to tenants.”

So instead of focusing solely on a “hip” neighborhood, know what’s in walking distance. “One of the key components you want to look at are the auxiliary services around the development: the proximity to the subway, where the closest nail salon or dry cleaners is located, where’s the grocery store, and so on,” Randolph said. “Your retail landscape and transportation options are what make up a neighborhood.”

3. Research The Building And Developer

If you’re buying a condo, it’s important to research the building’s developer and have a good understanding of their past. “You want to know that the developer has some kind of track record,” Randolph advised. “Work with a broker and do your own research. Know their past products, how they’ve performed, and that will tell you if you’re buying into a quality product.”

If you’re buying a co-op, find out everything you can about the cooperative board and have a good understanding of what future changes could be made to the building. Knowing whether the co-op rules might change to no longer allow pets or if there are plans to completely redo the lobby (requiring you to pay a large monthly assessment) could sway your desire to live in the building.

4. Know Your Best Price

Your “best price” doesn’t mean the best deal, because there’s really no such thing as a “good deal” in New York City real estate.

Instead, it’s about knowing why you’re investing. Ultra-net worth individuals may be buying $20 million+ condos as pied-à-terres that they can use whenever they’re in the city. “They’re buying them because they’re hedging bets against the marketplace,” Randolph explained. “Within the next 3-5 years, they’re hoping the condo will be worth 1.5x more than what they purchased it for.”

Those buyers may leave their apartments empty for months at a time. The vast majority of investors, however, are buying condos and apartments to rent out and turn a profit, which has a vastly different price point.

“For renting purposes, the price is up to $3.5 million, and that can be for a 2-bedroom or a 1-bedroom,” Tan says. “A cheap price gets you cheap rent, and a higher price point gets higher rent. The very expensive apartments have difficulty getting rented since it’s rare for someone to want to spend $15,000 renting a one bedroom, and your average 1-bedroom is often around $4,000.”

Randolph agreed. “The best investment if you’re looking to buy something to rent out would be a 2-bedroom apartment in the $2 million to $5 million price range,” he said. “Two to three bedrooms rent at higher rates per square foot because you can have multiple tenants in the apartment.”

5. See It For Yourself

“I always advise my clients that if its your first time investing in the city, you need to go and see the apartment,” Randolph said.

If you can, get a feel for the neighborhood, make sure there are no hidden downsides to the apartment, and check out the building.

But if coming to see the apartment is not a possibility, get a trusted broker to tour the place for you. “90% of my clients go and see [the place],” Randolph said. “But there are some clients where I send them the floor plan and tell them about the area and they’re all for it.”

Tan also stresses seeing the apartment, but notes that technology has rendered it almost unnecessary for foreign buyers. “Some of my clients only come here to close, and some of them don’t even come here at all,” he said. “It’s not like in the olden days where there was no Skype or FaceTime and they had to go and touch the apartment.”

SEE ALSO: This Is The $20 Billion Future Of Manhattan's West Side

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Startling Photos Show Yazidis Under Siege By ISIS Fleeing Into Syria By The Thousands

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Yazidi

As ISIS terrorizes northern Iraq and Kurdistan, they’ve picked out one group in particular to attack: the Yazidis.

The Yazidis are a small Kurdish minority who belong to a religion that blends Sufism, Judaism, Christianity, Hinduism, and Zoroastrianism. 

The Islamic State sees Yazidis as devil-worshippers and have made it their mission to force them to convert or be killed.

After ISIS began to advance towards Yazidi towns in Iraq's north, many fled their homes into the nearby mountains. As many as 70,000 Yazidis have been trapped on Mount Sinjar for the past week.  

As ISIS has pushed closer to Yazidi positions on Mount Sinjar, the Yazidis have been forced to take their chances with a dangerous route and flee towards the Syrian border.

Over the weekend, Syrian Kurds successfully carved out an escape route for those trapped on Mount Sinjar to make it into Syria, according to the Sydney Morning Herald. It is estimated that around 20,000-30,000 have made it out so far. sinjar yazidi mapTemperatures on the mountain and in the region are in the 90s. They have little water or food, which makes traveling difficult. yaz2That has begun to change, as U.S., British, and Iraqi forces are dropping humanitarian  supplies to trapped Yazidis. This image from U.S. Central Command shows Yazidis approaching humanitarian bundles after they've been dropped by U.S. forces.yaz8The journey, which most have to do on foot, is particularly arduous for the many Yazidis who are women, children, elderly, or disabled.yaz12Some have been able to find donkeys to ride across the border.yaz1The Kurdish peshmerga have been overseeing the operation, but that hardly makes it a safe route. ISIS militants have been attacking the Kurds along the route. yaz3There are some vehicles to carry Yazidis, but hardly enough for all those attempting to flee.yaz4Many Yazidis who have made it across have settled at refugee camps in Derike, Syria. yaz13For those who continue, the route leads to the Fishkhabur crossing, which brings them into Iraqi Kurdistan, according to The Guardian. Though under siege by ISIS, Kurdistan remains possibly the safest place in the area for the Yazidi right now.yaz6

SEE ALSO: A Small Religious Sect Is Being Butchered In Iraq And Now Faces Total Disaster

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Here Are The Investing Giants That Built The Hedge Fund World As We Know It

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sistine chapel god creation adam ceiling michelangeloThe government has clamped down on Wall Street banks, but that doesn't mean money goes to sleep.

In a shift decades in the making, the hedge fund world has exploded in size, filling the void banks have left open to take finance's biggest risks and reap its greatest rewards.

Sebastian Mallaby's book 'More Money Than God,'documents the rise of hedge funds, from the very first venture in 1949 to the giants that they are now. It also provides insight into how many of today's star hedge fund managers go their starts.

We've gone through Mallaby's book for you, and highlighted the most important people that made hedge funds into the powerful, driving market force it is today.

Alfred Winslow Jones started then first hedge fund when he discovered the benefits of "hedging"— short selling some stocks to offset risks of buying others.

Fund: A.W. Jones & Co. (1947 – Present)

Background: Alfred Winslow Jones was a man in his 40s with almost no experience in finance. He had dabbled in public service, Marxist rebellion, and journalism. But by 1949, Jones had a family and two kids, and needed to make money. Jones raised $60,000 from his friends and threw in $40,000 of his own money.

Strategy: Jones created the hedging strategy, which used short selling to mitigate or "hedge" the risks from buying long. He financially incentivized brokers to provide him with their best stock picks to fill his portfolio. Jones also began the standard of charging a 20% performance fee on top of the flat management fee.

Major wins/losses: In 20 years running, Jones saw a return of almost 5,000%. But leading up to the market crash of 1969, Jones' segment managers started taking too many leveraged risks, and Jones lost 35% of his investors' money.

How they changed the game: Jones' "hedged fund" led to a flood of imitators and the start of a new financial movement. By 1968 there were 40 more hedge funds, and by 1969 there were anywhere between 200 and 500. 



Legendary trader Michael Steinhardt then used the same model, but to bet against conventional wisdom.

Fund:Steinhardt, Fine, Berkowitz & Company / Steinhardt Partners (1967 – 1994)

Background: Steinhardt graduated from University of Pennsylvania at age 19, and by 25 had already made a name for himself on Wall Street. Steinhardt known for his temper and contrarian attitude.

Strategy: Steinhardt developed an invaluable relationship with block traders. As investors began to pour money en masse into Wall Street, block traders stepped up to facilitate large trades and provide liquidity. Traders would come to Steinhardt because he controlled big decisions and big trades.

This allowed Steinhardt to take advantage of inefficient prices in the short-term, buying low and selling high. Steinhardt's firm was also the first to utilize monetary analysis and predict interest rates.

Major wins/losses: Steinhardt's firm was the only profitable hedge fund in 1971 because of its massive short positions during the 1969 market crash, with a total return of 361% since it started in 1967.

However, in 1994, Steinhardt lost a fortune in a huge European bond dump. His hedge fund wasn't able to recover, and he left the market shortly afterwards.

How they changed the game: Steinhardt's firm turned hedge funds from a method of controlling market exposure into a method of betting against conventional wisdom. The success of Steinhardt, Fine, Berkowitz & Company showed the hedge funds' capacity for contrarianism.



F. Helmut Weymar led one of the first 'quant' hedge funds that used mathematical models to trade commodities.

Fund: Commodities Corporation (1969 – 1997)

Background: Weymar wrote his PhD dissertation on predicting the price of cocoa by using historical data. As a graduate student, he built a mathematical model to evaluate prices of frozen orange juice, which ended up turning him a profit. He cofounded Commodities Corporation with friends, after a stint trading at Nabisco with his cocoa price model.

Strategy: Commodities Corporation focused on econometrics, building models, and forecasting market conditions. The firm built a computer trading system that found price trends in data and traded based on these patterns, which was one of the first automated trading systems used by hedge funds.

Major wins/losses: After a corn catastrophe, Commodities Corporation's capital was decimated from $2.5 million to $900,000 in less than a week. Weymar then turned around the fund with a new approach to risk taking. By the end of the 1970s, Commodities Corporation had risen to $30 million in capital.

How they changed the game: Commodities Corporation was one of the first "quant" hedge funds, using data to guide trades. However, its failure in 1971 also warned against placing too much confidence in mathematical models.



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