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3 things every young Wall Streeter needs to know going into bonus season

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It is the most wonderful time of year on Wall Street.

That's because it's bonus season!

We spoke with a veteran bank analyst and hedge fund portfolio manager, and he had three rules for young Wall Streeters going through the bonus process.

We've included them below. Take notes.

**If you have any insights into bonus season (comp numbers, expected dates, tips, advice, tales of success, excess, or horror stories) feel free to send an email to jlaroche@businessinsider.com. We'll be discreet!

1. Clearly outline your goals.

"There will definitely be people that kiss up to the managing director. That's part of Wall Street," the person said.

But there's something that works even better than that — setting goals with your boss. 

At the beginning of the year, the boss will go over your progress and goals going into the next year. 

"Let's say I'm an executive director and I say that 'my goal is to make managing director.' My boss will say, 'Look that's a big ambitious goal, but here's what I'm going to need to see from you in order to fight for you to be a managing director.'"

During this conversation, you'll want to clearly state your goals. Those goals are usually around titles, not money. However, you can suggest that you weren't happy with your previous bonus number and that you want to work really hard to reach a certain level next year.

"By the end of the year, your boss can refer to the goals that you set. At the very least, the boss can say, 'We know you wanted a bigger bonus, but look at the goals you gave me, and you didn't hit those goals.'" 



2. Put your name on game-changing projects.

"Young people suffer with managing directors getting credit for the project that young person really did. MDs know this. You have to have your name on that successful project. The whole thought of 'I worked I hard, I hope people noticed' doesn't work. It's not that easy. You need to strategically work on projects that add value to the firm and are impactful."

The person said that either your boss will put you on that project or you can raise your hand when an opportunity arises.

"Sell-side doesn't pay for the current year. It's based off your future potential to the firm. If they think you will be a rock star and you have your name on the right projects, you're the person they're going to over pay. That's who you want to be."



3. Don't take vacation right before the bonus.

This might sound pretty simple, but it is surprisingly important.

"If you take a vacation, take it after bonus season. Don't make the mistake of taking a two-week vacation right before the bonus." 



See the rest of the story at Business Insider

I WAS A CES NEWBIE: Here's what I learned in Las Vegas swarming with 170,000 nerds

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ces 2016 fitness climbing

This year, I made my first pilgrimage to CES, the Consumer Electronics Show, the world’s largest tech event.

With over 170,000 registered attendees, CES is a daunting trip for anyone.

But if you can survive the crowds, the travel headaches, and the Uber surge pricing, you can learn a lot about the future of tech — from driverless cars to all--smart everything to a Shaq Attack.

Here are the key things I learned at CES 2016.

SEE ALSO: 17 amazing facts you probably didn't know about Apple

Las Vegas is the perfect place to host the world's largest tech event. Not only does it have the infrastructure to handle 170,000 attendees, but the Vegas casino floor is also full of slot machines that are actually showcases for the latest big-screen curved displays and chair-mounted subwoofers.



The hottest technology of CES 2016, beyond a doubt, was anything having to do with cars. Faraday Future kicked things off with its 1,000-horsepower electric car concept...



...but really, it seems like a lot more of the showfloor buzz was around the more mundane, but still crucial, technology that goes into connecting cars and smartphones, including Google Android Auto and Apple CarPlay.



See the rest of the story at Business Insider

The complete guide to Hong Kong street food

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In the past year, Hong Kong's street food has enjoyed an explosion of interest in the culinary world, thanks to a groundbreaking mention in the Michelin Guide.

However, any true local will be quick to point out that things aren't what they used to be: the real golden age of the city's street dining culture was the '70s and '80s, when government licensing was lenient and people were hungry for cheap-and-easy ways to fill up. 

Food back then was peddled on the streets by vendors with pushcarts. Nowadays, it would be nearly impossible to happen upon an old lady selling homemade pastries next to a zebra crossing. The government simply wouldn't stand for it. 

A handful of vendors have since relocated to brick-and-mortar stores, with a high concentration around the Sham Shui Po and Mongkok areas. Despite the setbacks, street food is still very much thriving: People are still yearning for a cheap snack on the go, whether in a brown paper bag or on skewer. Here are the tasty (and at times, absolutely weird) classics to look for on your next street food crawl. 

SEE ALSO: The best street food to eat in 28 European countries

Curry Fish Balls

You can't say you've been to Hong Kong without having tried fish balls. These chewy golden spheres have been a staple of the local food culture for decades. Apparently only 20 percent fish, this delicacy is never seen without its perfect partner: curry sauce. Boiled in a sweet curry broth for hours on end, Tung Tat's fish balls are full-bodied and flavorful. The nearby Chan Kee sells a hotter version, though the curry sauce is only dripped over the skewer upon serving. Non-spicy alternatives are available, but skip those—they are usually inferior. Tung Tat — 48 Pitt Street, Yau Ma Tei, Kowloon, Hong Kong. Chan Kee — 38 Pitt Street, Yau Ma Tei, Kowloon, Hong Kong.



Put Chai Ko

These sticky rice puddings are oh-so-filling and incredibly cheap. Served on toothpicks in the olden days, the pastries come in two flavors: Brown and white sugar. Red beans are typically added for texture. Kwan Kee's generously sized put chai kos are all prepared in the old-fashioned way: Steamed in earthen bowls and air cooled. Ask for skewer sticks instead of plastic bag packaging for an extra kick of nostalgia. Kwan Kee — 115-117 Fuk Wa Street, Sham Shui Po, Kowloon, Hong Kong.



Egg Waffles

Hard on the outside and supple within, these coin-shaped pancakes are best enjoyed hot. The yummy treat is created by pouring egg batter into a griddle and flipping it over every few seconds. The wildly popular Lee Keung Kee (pictured above) is a solid option for the classic flavor. Adventurous types will love Oddies Foodies, a dessert shop that frequently experiments with unexpected egg waffle tastes, from miso to Chinese sausage. Lee Keung Kee492 King's Road, North Point, Hong Kong. Oddies Foodies — 149 Wan Chai Rd, Wan Chai, Hong Kong.



See the rest of the story at Business Insider

Here's a look inside the house from 'Silence of the Lambs' that no one wants to buy

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If you live in a house that's featured in a popular movie, you expect people will come by taking pictures, and some may be itching to buy it if it goes on the market.

Who wouldn't be proud to live in the house from "A Christmas Story" or "Home Alone"?

But sometimes it's not a selling point, like when you're living in the house that was serial killer Buffalo Bill's torture compound in "The Silence of the Lambs."

Scott and Barbara Lloyd have lived in the Fayette, Pennsylvania, house since 1976 and allowed the movie to use their property, but the retired couple have decided to sell it and downsize.

The house was the second-most clicked listing on Realtor.com in 2015, but that hasn't led to many offers. That could be because it's the "Buffalo Bill house," Pittsburgh is an hour away, or it's a four-bedroom house with only one bathroom. Whatever the case, the house was originally listed at $300,000 in August, but has been dropped to $249,900.

That could be a steal, depending on your point of view. Let's take a look inside:

SEE ALSO: 23 of the most interesting categories on Netflix and how to find them

The house is a three-story Victorian, and no, it doesn't have a torture pit in the basement. That portion of the movie was shot on a soundstage.



It has a quaint feel to it, ...



... including a nice-size living room ...



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11 mind-melting photos will make you realize how shockingly small Earth is

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Jupiter Earth comparison

Earth feels pretty large, and we feel pretty tiny living on it.

But we rarely, if ever, stop to think about the vast beyond. And we should!

Former astronomer Carl Sagan wrote in his book "Pale Blue Dot: A Vision of the Human Future in Space":

There is perhaps no better demonstration of the folly of human conceits than this distant image of our tiny world. To me, it underscores our responsibility to deal more kindly with one another, and to preserve and cherish the pale blue dot, the only home we've ever known.

So just how small is Earth compared with the rest of outer space? These photos will help put our planet in perspective.

This humbling photo, taken by NASA's Cassini spacecraft in 2013, shows what Earth, indicated by the tiny white arrow, looks like from 898 million miles away.

NASA Goddard Spaceflight Center



Here, North America is superimposed next to Jupiter's Great Red Spot. As you can see in this to-scale image, Jupiter's giant storm would completely swallow the entire continent.

Courtesy of John Brady, who founded the blog Astronomy Central.



Saturn's rings are a beautiful spectacle of the cosmos, but they look much better on Saturn than on Earth.

Courtesy of John Brady, who founded the blog Astronomy Central.



See the rest of the story at Business Insider

The must-read guide to the key issues at every major Wall Street bank

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Wall Street

Wall Street banks had a rough end of 2015, and now analysts are looking ahead at what's to come this year.

Societe Generale bank analyst Geoff Dawes and his team put together a "Banks Handbook" for the year ahead and took a deep dive into the issues facing the top banks in the US and Europe.

Among other things, they listed the three biggest strategic challenges each of the banks is facing.

These range from adapting to new regulatory hurdles to following through on restructuring plans.

The handbook is particularly timely, as JPMorgan kicks off fourth quarter earnings season on Thursday January 14. 

We put together a list of 10 major banks and the the biggest challenges they must overcome this year, via Dawes' note.

SEE ALSO: One bank could win out in 2016 — in good times and bad

Goldman Sachs

Maintaining growth in banking revenues after a period of robust growth.

In the third quarter of 2015, Goldman Sachs produced year-to-date net revenues of $5.48 billion— it's highest performance for that period since 2007.

Ensuring large share buyback policy can be resumed after being impacted by 2015 DFAST process

DFAST refers to the Dodd-Frank Act stress test, which assesses whether large banks have enough capital to absorb losses in the event of an economic crisis. Goldman had to submit a revised dividend and stock-buyback plan to the Fed, after finding that the initial plan would have left the bank short of capital in a stressed scenario. 

Managing potentially large RWA inflation from the BCBS Trading Book review

RWA refers to "risk-weighted assets," which measures a bank's assets weighted according to their riskiness. The BCBS Trading Book review refers to a revised market risk framework from the Basel Committee on Banking Supervision which looks set to increase some risk weightings, which in turn will likely inflate total RWAs.

That is important, as it could mean banks will have to hold more capital against those assets.

RWAs are used to calculate bank capital ratios (a measure of stability), and any RWA inflation could lead to a need for more capital.



Morgan Stanley

Implementing management's strategy to improve wealth management operations.

Wealth management has been a key focus for Morgan Stanley since the financial crisis and is its most profitable business. The president of the wealth management division, Greg Fleming, unexpectedly left the bank last week, and that team is now under the purview of president Colm Kelleher.

Deleveraging the FICC business adequately to improve ROE.

In November, news broke that Morgan Stanley would lay off 25% of its fixed income, currencies, and commodities team to help improve the bank's return-on-equity. UBS bank analyst Brennan Hawken estimated at the time that a 25% FICC cut could boost ROE by 125 basis points or more, if reinvested into other divisions of the firm.

Managing the RWA impact from the BCBS Trading Book review.

Like at Goldman Sachs, the impact of the Basel Committee trading book review on risk-weighted assets is a concern for Morgan Stanley too.



JPMorgan

Optimising overall business risk, complexity, size and manage potential GSIB related add-on in stress tests

JPMorgan tops a number of global bank rankings in terms of how interconnected it is with other banks, how difficult it would be to replicate or replace, and how complex its business is. 

Regulators are focused on these kinds of institutions, which now have to hold more capital than smaller, less-interconnected institutions. 

Optimizing client relationship while minimizing the downside risks to business/revenues

JPMorgan has been focusing on cutting the numbers of clients it deals with. Daniel Pinto, chief executive of the corporate and investment bank at JPMorgan, alluded to the effort in a November presentation, saying: "What we have done in the last few years, and we are really more and more focused in the last couple, we do a lot of work on client planning." 

Whether to step-up investments in Asia to bolster presence/growth

JPMorgan finished 2015 as the number one investment bank in the US, and the number one investment bank in Europe, according to Dealogic. In Asia, it ranked seventh.

 



See the rest of the story at Business Insider

10 tiny vacation homes you can buy right now

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Minimal maintenance requirements and an idyllic location are two of the most important features when it comes to purchasing a vacation home. With that in mind, what could be more ideal than a sustainable micro-home in a scenic setting?

The following ski chalets, beach cottages, lakefront cabins, and mountain retreats focus on strategic “tiny home” construction with the bare essentials — because in naturally beautiful locales like these, why not spend more time in the great outdoors? Wherever your dream getaway is, the following tiny homes are ready to hand over the keys to your personal paradise.

SEE ALSO: This tiny home comes with a huge price tag

Chatham, Massachusetts

209 Shore Rd Unit 3, Chatham, MA

For sale: $599,500

If a petite windmill home by the beach sounds like a fable to you, think again. Located by Chatham Harbor, this 437-square-foot seaside cottage has 1 bedroom and 1 bathroom, paired with a lovely backyard patio and garden.

See more homes for sale in Chatham.

 



Skykomish, Washington

11920 876th Pl NE, Skykomish, WA

For sale: $169,000

Situated closer to Stevens Pass Ski Resort than any other home, this 580-square-foot cabin offers a rare opportunity for skiing and snowboarding enthusiasts. Functioning completely off-the-grid, this 2-bedroom, 1-bathroom home can be enjoyed year-round, with summertime activities like rafting and hiking within arm’s reach.

See more Leavenworth homes for sale.



Warwick, Rhode Island

91 Namquid Dr, Warwick, RI

For sale: $154,900

Affording stunning views of Narragansett Bay, this 522-square-foot waterfront cottage is a hop, skip, and a jump from the beach. The 1-bedroom, 1-bathroom home features cathedral ceilings and a huge deck overlooking the water.

See more listings in Warwick.



See the rest of the story at Business Insider

10 ways to improve your finances in a single day

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laptop outside new york city

Starting on the path to financial health can be overwhelming.

But as you start paying attention to your money management techniques, you’ll notice that it’s not the big things as much as it is your small, daily decisions that truly impact your finances — for better or worse. 

In just an hour or two, you can complete a small task to make a big improvement in your financial situation.

Read: 13 Easy Ways to Save More Money According to Experts

 

SEE ALSO: The 15 most affordable cities in the US for single people

1. Do what you’ve been dreading.

Often, emotions win out in the struggle to wisely manage money, and negative feelings like shame or fear can make it seem easier to just avoid the financial tasks hanging over your head. Don’t give in to these emotions. Be proactive — the only thing that will actually make financial problems better is facing and fixing them.

If you have a financial task that you’ve been dreading and avoiding, like calling a collections agency that you owe or setting up a payment plan for back taxes, now’s the time to take care of it. Doing so will give you peace of mind and relief. But most importantly, it will give you the chance to directly address and handle any issues before they end up costing you even more money and stress.



2. Set up automatic savings transfers.

If you set savings goals but can’t ever seem to stick to them, setting up automatic transfers to your savings account makes it easy and simple to stay on course. Figure out your savings purpose and goal — maybe you’re hoping to buy a car in a few months or want to step up your retirement contributions.

Once you have a dollar amount for your total savings goal, calculate how much you’ll need to save each paycheck to reach it. Then use your bank’s online tools to set up a recurring transfer that moves money into your savings account as soon as you get paid.



3. Purge recurring expenses.

If you’re paying for subscriptions to magazines you never read or are paying more for your cable bill than you do for car insurance, it’s time to purge your recurring expenses. Spend about an hour reviewing recent expenses, keeping an eye out for monthly charges like cable bills and subscription fees as well as services you could do yourself, like housecleaning. Look for services you don’t use much or could live without and cancel them.

For services you need, contact your service provider ask if there are any current offers, promotions or discounts that you could take advantage of to secure a lower rate. Or, you could try and get an upgrade at the same price you’re currently paying.

If you can’t get a deal from your current service provider, shop the competition to see if other companies are willing to offer a discount to give you a reason to switch over. The best part about cutting or lowering monthly expenses is that it’s a one-time effort that will help you save money long term.

Related: 10 Ways to Cut $500 Off Your Monthly Bills



See the rest of the story at Business Insider

Jeff Gundlach thinks oil is a disaster, rates could finally head higher, and gold could hit $1,400 (DIA, SPX, SPY, QQQ, TLT, BOND, BND)

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Jeff Gundlach just wrapped up his latest webcast on the markets and the economy.

The big takeaways:

  • There is no reason to be bullish on oil over the long term.
  • Interest rates could move higher but 2016 is a year to "wait and see" and then react to the markets rather than make a bold call.
  • The dollar's rally is probably done for now, especially in light of how consensus says the dollar is continuing to rally.
  • Wages are going up and profits are going to remain under pressure.

Over the last year Gundlach has gotten a lot of attention for his views on oil. In December 2014, Gundlach said oil falling to $40 a barrel would indicate considerable geopolitical tensions building in the world. On Tuesday, crude oil was trading at $30 and Gundlach said — as he did in December — that there are problems in the world.

Scroll through the slides and commentary below for an overview of some of the key topics Gundlach covered.

SEE ALSO: Jeff Gundlach warned of 'terrifying' consequences if oil fell $40 — today it fell below $30

Here's the title slide of Gundlach's webcast, "Just Markets."

Gundlach says the image on this title slide is a metaphor for the Fed keeping rates near 0% for a long time, which pulls return forward and markets are now having a hard time keeping up with these returns.



Last year was one of the worst years for the "best return" ever.

"It was a hard time making money last year," Gundlach says, noting that 2015 was the worst year since 1937 for the "best" asset an investor could've owned.

Gundlach adds that this is a preserving-money not a making-money environment right now. Gundlach also expects pressure in junk bonds and notes that Tuesday's announcement from the S&P that the downgrade/upgrade ratio for corporate debt will be higher than it's been.

On the Fed, Gundlach thinks it needs to dial down its rhetoric regarding rate hikes because he doesn't think there's going to be a window to raise rates up to four times in 2016.



The market and the Fed don't agree.

The market thinks the Fed will raise rates just once or twice this year, while the Fed thinks they're going to raise rates four times.

Given the current stock market chaos — which was a catalyst for the Fed holding off on raising rates, Gundlach notes — it appears that the market is the early leader.



See the rest of the story at Business Insider

25 jobs that might not be around in the future

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Thanks in part to advances like email, Facebook, and Twitter, mail carriers may be all but obsolete in the not-so-distant future.

By 2024, the US Bureau of Labor Statistics projects a 28% decline in postal-service jobs, totaling around 136,000 fewer positions than 2014.

Mail carriers aren't the only ones whose jobs are disappearing. Technology and market shifts have affected a wide range of fields.

Based on the BLS's occupational outlook data, here are 25 jobs that could be on their way out of the US:

SEE ALSO: The 21 best jobs of the future

DON'T MISS: The 27 jobs that are most damaging to your health

25. Textile winding, twisting, and drawing out machine setters, operators, and tenders

According to the BLS, they set up, operate, or tend machines that wind or twist textiles; or draw out and combine sliver, such as wool, hemp, or synthetic fibers. 

Median annual pay:$26,680

Number of people who held this job in the US in 2014: 26,000

Predicted number of people who will hold this job in 2024: 20,300

Projected decline: 21.7%



24. Grinding, lapping, polishing, and buffing machine tool setters, operators, and tenders (metal and plastic)

According to the BLS, they set up, operate, or tend grinding and related tools that remove excess material or burrs from surfaces, sharpen edges or corners, or buff, hone, or polish metal or plastic work pieces.

Median annual pay:$34,150

Number of people who held this job in the US in 2014: 71,400

Predicted number of people who will hold this job in 2024: 55,800

Projected decline: 21.9%



23. Patternmakers (metal and plastic)

According to the BLS, they lay out, machine, fit, and assemble castings and parts to metal or plastic foundry patterns, core boxes, or match plates.

Median annual pay:$41,670

Number of people who held this job in the US in 2014: 3,800

Predicted number of people who will hold this job in 2024: 2,900

Projected decline: 23.4%



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The 5 types of banks you can invest in

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bank teller prostesterIf you want to invest in bank stocks, you first need to know what type of banks match your investment objectives. By my count, there are five types, with each offering benefits and detriments from the perspective of an individual shareholder.

1. Universal banks

The biggest banks in America are universal banks. JPMorgan Chase, Bank of America, and Citigroup all fall into this category.

Universal banks offer a variety of services, including:

  • traditional banking (taking deposits and making loans)
  • investment banking (advising on mergers and acquisitions as well as underwriting debt and equity offerings)
  • market making (buying and selling their clients' securities)
  • wealth and asset management

The biggest benefit to a universal bank from an investor's perspective is that they're diversified across multiple business lines and a wide range of geography. This helps banks like JPMorgan Chase, Bank of America, and Citigroup offset the negative impact from, say, an unexpected change in interest rates.

In terms of geography, moreover, history speaks clearly to the benefit of a wider reach. Virtually every major bank in Texas failed in the 1980s due to overconcentration in the then-ailing energy sector. Meanwhile, although oil prices are tracing a similar path today, the energy industry is just one of many that JPMorgan Chase, Bank of America, and Citigroup lend money to around the world.

Conversely, the biggest downside to investing in a universal bank is that new regulatory rules require them to hold more capital relative to their assets than their smaller, simpler peers. This reduces leverage and depresses profitability -- though it remains to be seen whether the latter will be offset by these enormous banks' economies of scale.

The heightened capital requirements for "too big to fail" banks is a consequence of the financial crisis, during which the federal government had to pump $800 billion into Bank of America and Citigroup alone in the form of cash and government guarantees to ensure they didn't fail. By requiring the nation's biggest banks to hold more capital, the belief is that they'll be able to survive a future severe economic downturn without going hat in hand to taxpayers.



2. Traditional banks

A traditional bank does what most people think banks do -- accept deposits and make loans.Wells Fargo, US Bancorp, and M&T Bank are prominent lenders in this category.

While traditional banks tend to be smaller than universal banks -- Wells Fargo being an exception, as it's about to pass Citigroup to become the third biggest bank in America -- they make up the majority of the industry. Of the nation's 6,270 banks, only 110, or 1.8%, have more than $10 billion in assets on their balance sheets. And most (5,564) have less than $1 billion.

Traditional banks earn the majority of their revenue from interest rate arbitrage. In the first nine months of 2015, 61% of Buffalo, New York-based M&T Bank's top line came from net interest income.

JPMorgan Chase, by contrast, earned less than 46% of its net revenue from arbitraging interest rates; the rest came from fee-based businesses such as investment banking and wealth management.

Paradoxically, even though traditional banks aren't as diversified as universal banks, the best among them have generated the industry's highest shareholder returns over the past 30-plus years.

Since 1990, for instance, Wells Fargo and U.S. Bancorp have convincingly blown away their counterparts in the universal banking space, as you can see in the chart above.

The two principal downsides to investing in traditional banks are that, as already mentioned, they're less diversified than universal banks, and they tend to be less efficient because they don't get as of a boost from economies of scale.

The typical traditional bank with less than $100 million in assets spends more than 80% of its net revenue on operating expenses, compared to only 62% for the average $10-plus billion bank, according to FDIC data.

Importantly, Wells Fargo and U.S. Bancorp are exceptions to this. Both of these banks run notoriously lean operations, with efficiency ratios that have historically trended toward 50%. The significance of this can't be overstated, as the efficiency ratio is arguably the single most important metric when it comes to identifying great bank stocks.



3. Investment banks

Publicly traded investment banks are somewhat of a misnomer in the aftermath of the financial crisis, as few emerged as independent, stand-alone entities. One that did is Lazard, a $4.1 billion firm that specializes in advisory work and asset management.

Meanwhile, three of the five biggest investment banks on the even of the crisis either failed or were acquired by better capitalized commercial banks in 2008:

  • JPMorgan Chase bought Bear Stearns
  • Bank of America acquired Merrill Lynch
  • Lehman Brothers went bankrupt

The two others, Goldman Sachs and Morgan Stanley, survived only by converting to bank holding companies. This gave them access to the Federal Reserve's discount window, pre-empting likely liquidity crises at both. But it also means that the storied Wall Street firms have as much in common with universal lenders as they do with pure-play investment banks.

This nuance aside, the benefit of investing in firms like Goldman Sachs and Morgan Stanley (and Lazard) is that they expose your portfolio to some of the best and brightest minds on Wall Street, if not across America. The detriment is that they do so without the offsetting diversification of a universal bank, which counterbalances its investment banking business with consumer and commercial lending.



See the rest of the story at Business Insider

Before-and-after photos show how dramatically presidents have aged while in office

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U.S. President Barack Obama holds his end of the year press conference at the White House in Washington December 18, 2015. REUTERS/Kevin Lamarque

As President Barack Obama reflects on his seven years in office, he has a way of acknowledging his waning time in the position: A joke about his graying hair.

"The first thing I want from young people is to stop calling me old," Obama said earlier this year. "When I came into office, I had no gray hair, and now I have a lot. I don't dye my hair, and a lot of my fellow leaders do. I won't say who, but their barbers know, their hairdressers."

Indeed, despite his close-cut hairstyle, it’s impossible not to notice the trademark presidential graying, as the president’s short black hair has become more of a salt-and-pepper color.

And though some dermatologists maintain that Obama is the latest victim of the expedited presidential aging process, appearing to age faster due to the stress of the office, others say that it’s more attributable to natural aging than stress.

Other studies, including a comprehensive analysis of elections dating back to the 1700s, have found that heading a nation can take years off a leader's life. The December analysis, from the Harvard Medical School, found that elected heads of government, on average, have lives almost three years shorter than the candidates they defeat.

But not everyone is bothered by the aging process. At least one top candidate to succeed Obama says she’s ready for it.

"All our presidents come into office looking so vigorous," Democratic presidential front-runner Hillary Clinton said. "Think about what they look like on Inauguration Day. And then we watch them — they grow grayer and grayer. And by the time they leave, they are as white as the building they live in."

"Now let me tell you, I'm aware I might not be the youngest candidate in this race, but I have one big advantage: I've been coloring my hair for years," she quipped.

Here’s how the country's past presidents have looked near the beginnings and ends of their respective terms.

SEE ALSO: POWER RANKINGS: Here's who has the best chance at being the next US president

Obama takes the oath of office on Inauguration Day, January 20, 2009.



The president wraps up a National Security Council meeting in December 2015.



Former President George W. Bush makes a phone call shortly after the 2000 election.



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Step inside 'El Chapo' Guzmán's secret hideout

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home jiq el chapo amanda

On the corner of Río Quelite and Jiquilpan Boulevard in Los Mochis, Mexico, sat a peculiar home with no known owners. It became the site of Mexico's operation "Black Swan," the raidthat eventually led to the recapture of notorious drug lord Joaquin "El Chapo" Guzmán.

Step inside the high-walled, secret hideout of the world's most infamous drug baron.

SEE ALSO: Here's the intense moment Mexican marines stormed 'El Chapo' Guzmán's hideout

The unknown buyer instructed workers to plant large olive trees around the home.

Source: The Guardian



Here's a view of the living room and kitchen after operation "Black Swan."



Here's a close-up of the modern kitchen. The home underwent renovations a year after it was bought.

Source: The Guardian



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The 16 trendiest neighborhoods in the world, according to Airbnb

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The only thing cooler than living in a cool city is living in the coolest part of a city. 

To track the trendiest places to visit, Airbnb crunched the numbers of 40 million stays at Airbnbs around the world in 2015 and found the neighborhoods that had the greatest upswing in stays. 

Onto the hoods.  

Constitución in Buenos Aires, Argentina, saw 125% growth. It's centered around the Constitución train station.



Richmond in Melbourne, Australia, saw 126% growth. It has awesome street art.



The Bukit Peninsula in Bali, Indonesia, saw 130% growth. This is the aptly named Dreamland Beach.



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This is what 5 of your favorite Pixar movies looked like in early sketches before they hit the big screen

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It takes a lot of work, and a lot of trial and error, to bring an animated world to life.

This is especially true for Pixar, which continues to put out some of the most beloved animated films of all time.

But before they can go from a computer to the big screen, the movies must first be sketched out with pen and paper.

An exhibit at the Cooper Hewitt Museum in Manhattan called "Pixar: The Design of Story" shows off some of the most beloved Pixar films and characters in their earliest forms, from Woody in "Toy Story" to Sadness in "Inside Out."

Check out what some classic Pixar characters originally looked like:

SEE ALSO: 8 important scenes from 'Star Wars: The Force Awakens' that didn't make it into the movie

A number of critics and fans think "Wall-E" is still Pixar's best film.



Wall-E is a very sophisticated robot. Putting him together took a lot of thought and attention to intricate details.



Early sketches focused on how exactly the robot's arms would move.



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Before 'Star Wars,' John Boyega used to be a stock photo model

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Before he suited up as a Stormtrooper in "Star Wars: The Force Awakens," actor John Boyega flashed his pearly whites as a stock photo model.

A set of Getty stock photos went viral over the weekend after a student at the University of Nebraska-Lincoln noticed a campus flier that used one of the images featuring Boyega and posted it to Imgur.

The photos, by British photographer Chris Schmidt, show a group of young adults in business-casual dress hanging out on a campus. Here they are in all their glory.

h/t Mashable's Sam Haysom, who discovered the Imgur post that started it all.

This may look like any ordinary crop of University of Nebraska-Lincoln students ...

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But look a little closer and you'll find, it's John Boyega in the center!

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Dressed in slacks and a grey cardigan, he looks ready to take on the First Order — or an internship.

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These are the coolest things I saw at the 2016 Detroit Auto Show

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The Detroit Auto Show is the biggest in the world for the auto industry. When you come to Motown, you expect to see cars and lots of them. I saw plenty of cars this week, but I saw a few other things, too.

Check them out:

SEE ALSO: Acura is doubling down on performance in a battle with other luxury automakers

Acura's Precision Concept is actually a four-door! It has "suicide" rear doors that hinge in the opposite direction from the main doors. If Acura ever builds it, they need to retain this feature!



This customized Kia SUV reminded me of a groovy van from the 1970s.



Ferrari is absent in Detroit, but the new 488 GTB supercar isn't, thanks to Brembo, a company that makes high-performance brakes. Not my favorite Ferrari color, but it'll do.



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12 states where Americans are moving in, big time

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Moving is stressful: securing a new place to live, packing everything in boxes, shipping them to the new location, unpacking, rearranging in the new place, and more.

Despite the hassle, the US Census Bureau estimates that nearly 45 million people moved in 2014. While around 84% of those moves occurred in the same state, Atlas Van Lines, a national moving company assembled data from 77,705 interstate moves and found that there are 12 states experiencing migration inflows.

Nearly half of the states on the list are in the South, while the top-two states come from the Northwest.

We've compiled the 12 states, along with the number of moves into and out of the state, net-inflow migration, and percentage of moves into the state.

12. Washington

Number of Inbound Moves: 2,722

Number of Outbound Moves: 2,226

Net Inbound Moves: 496

Percentage of Moves Inbound: 55%



11. Rhode Island

Number of Inbound Moves: 233

Number of Outbound Moves: 180

Net Inbound Moves: 53

Percentage of Moves Inbound: 56.4%



10. Texas

Number of Inbound Moves: 7,077

Number of Outbound Moves: 5,326

Net Inbound Moves: 1,751

Percentage of Moves Inbound: 57.1%



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These 3 charts explain why Warren Buffett loves railroads

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BNSF represented a big change to Buffett's Berkshire Hathaway(NYSE:BRK-A)(NYSE:BRK-B) when the Omaha conglomerate purchased the company in 2010. Railroads are capital-intensive and tend to carry large financial burdens like employee pensions, generally making them polar opposites to Buffett's earliest investments.

But when you're cursed with the blessing of billions of dollars in surplus cash, as Buffet is, base hits are more plentiful than home runs. And though BNSF is unlikely to be a one-decade 100-bagger for Berkshire, it's an investment that is clearly paying off for Berkshire shareholders.

 

 

 

If you study BNSF's results over the last 15 years, you'll find the stodgy business hasn't changed all that much. It's simply continued to move stuff across its rails. As the chart below shows, it's actually doing less today than it did in 2006, when freight volume reached a pre-crisis peak.



Of course, volume isn't everything. Even though BNSF is moving less stuff, it's making way more money. BNSF has slowly benefited from rising revenue on a per-car basis, which grew at an impressive compounded rate of 4.9% per year from 2000 to 2014.



Some freight is worth more than other types. Agricultural products are worth the most, at an average of nearly $4,300 per car in 2014.

But BNSF's rising revenue per car can't be explained entirely by the fact it's moving more grain and fewer consumer goods. The shipments that generate the least revenue, and which have seen the slowest increases in pricing -- consumer products -- have consistently made up 47% to 53% of its freight by cars from 2000 to 2014.



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Here's Jeff Gundlach's eye-opening presentation on 'Just Markets' in 2016

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Bond guru Jeff Gundlach of DoubleLine Capital laid out his outlook for 2016, and it doesn't look cheery for energy investors.

Gundlach made a number of calls including oil staying at its incredibly low prices. In his opinion, the elevated levels of production will keep supply up and prices lower for longer.

Additionally, he believed that the Fed will only hike rates twice in 2016, not the 4 times they are saying now. He pointed to the current mess in the stock market as evidence.

In a new presentation titled "Just Markets," Gundlach shared all the charts that he considered before making his calls. Each one is worth a close look.

Check them out below.

 







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