Tuesday, March 14, 2017

Buffet and The $1 Million bet

Protégé Partners has likely found itself on the losing end of a $1 million bet with Berkshire Hathaway chairman Warren Buffett after a group of hedge funds it selected failed to beat a Vanguard Group index fund for almost a decade.

The outcome of the wager, which concludes at the end of this year, is the latest reminder of the momentum that low-cost passive investing has gained since the financial crisis. Investors have increasingly favored index funds, which track benchmarks, over paying higher fees to money managers who make active picks in the stock and bond markets.

Buffett, a billionaire investor and outspoken critic of fund managers who profit from high fees at the expense of their clients, bet in 2007 that a Vanguard S&P 500 index fund would beat five funds of hedge funds selected by Protégé Partners over the next 10 years. Buffett laid out evidence in his 2017 annual letter to Berkshire Hathaway shareholders that he’s set to win the wager as none of the funds outperformed the index fund from 2008 through 2016.

Jeffrey Tarrant, founder and CEO of Protégé Partners, an asset manager based in New York, didn’t immediately return a phone call seeking comment.

The $3 trillion hedge fund industry, which has been struggling to outperform stock and bond markets, could see assets shrink by as much as 30 percent in the next three years if performance continues to disappoint, according to a report this month from Boston Consulting Group. By contrast, Vanguard, whose name is synonymous with index funds, attracted more money from investors in 2016 than all mutual funds and exchange-traded funds combined, preliminary data from Morningstar earlier this month showed.

“Though there are thousands of professional investment managers who have amassed staggering fortunes by touting their stock-selecting prowess, only one man — Ted Seides — stepped up to my challenge,” Buffet said in his letter, signed Feb. 25. So If you also want to have an edge on Investing you could also use a Percentage Calculator.

Seides was then co-manager of Protégé Partners, a fund-of-funds firm that focuses on emerging hedge fund managers. The Oracle of Omaha said in his letter that the five funds Seides selected had invested their money in more than 100 hedge funds, which meant the results wouldn’t be “distorted” by the performance of a single manager.

“I hadn’t known Ted before our wager, but I like him and admire his willingness to put his money where his mouth was,” Buffett said. “He has been both straight-forward with me and meticulous in supplying all the data that both he and I have needed to monitor the bet.”
Seides, who left Protégé in 2015 and is now a managing partner at Hidden Brook Investments, said in an email that he couldn’t comment on the bet because technically it belongs to Protégé.

According to Buffett, the five funds-of-funds gained 2.2 percent on an compounded annual basis in the nine years through 2016. “That means $1 million invested in those funds would have gained $220,000,” he said. “The index fund would meanwhile have gained $854,000.”

Under terms of the wager, the winnings will go to a charity. Buffet said the performance of the funds of hedge funds leaves “no doubt that Girls Inc. of Omaha, the charitable beneficiary I designated to get any bet winnings I earned, will be the organization eagerly opening the mail next January.”

Thursday, February 23, 2017

"Black Edge" Biggest Insider-Trading Scandal in Wall Street

Every trader needs an edge, but not all edges are created equal. Recently I got in contact with Sheelah Kolhatkar, and agreed to write an article on her latest book. It is a must read! it gives a clear perspective on the use of Information while trading and we all know that in the Investing and trading scene, one of the most powerful edges is information. At SAC Capital, Jason Karp color coded information to teach his analysts "what was safe and what might be illegal." The white edge was "readily available information" - completely safe but not worth much. The gray edge might be (and probably was) material, nonpublic information. At SAC, the only way to be sure it wouldn't get the firm into trouble was to talk to its legal counsel, something few traders were eager to do. So gray slid into white. Black edge information was obviously illegal. Karp warned his analysts: "If you do one thing wrong, you're in jail and your life is ruined. There is no trade that's ever worth it." So check your Investment goals carefully with this ACalculator and the end of the second post for more Info
And yet. As one trader, asked if he knew of any fund that didn't traffic in inside information, answered: "No, they would never survive." The author adds: "In this way, black edge is like doping in elite-level cycling or steroids in professional baseball. Once the top cyclists and home-run hitters started doing it, you either went along with them or you lost."
   Agreement with Sheelah to write this post.      
Sheelah Kolhatkar's Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street (Random House, 2017) chronicles the government's ultimately disappointing effort to build a case of insider trading against the legendary Steven A. Cohen of SAC Capital. The story, extensively reported at the time, transfixed the hedge fund world and financial news junkies. A lot of people were cheering for the government.
Kolhatkar, a staff writer for The New Yorker and author of the widely discussed article "What If Women Ran Wall Street?", worked as a risk arbitrage analyst at two hedge funds before becoming a journalist. For this book, she relied not only on published press sources but on "hundreds of interviews with more than two hundred people, as well as voluminous court transcripts, exhibits, deposition testimony, SEC interview notes, notes taken by FBI agents during witness interviews …, diary entries, written correspondence, and other documents." Predictably, Cohen refused to be interviewed.

Wednesday, February 8, 2017

Hacker One gets $40 Million in Funding

It is definitely a good time of the year to start thinking vulnerabilities on different web platforms, I just started a new project within regards of publishers and advertisements within this blog, and the information I managed to get is impressive so now while trying to avoid spying software at all cost I will  also do a total clean up and at the same time maximize every single opportunity for publishers and advertisers this idea came right on hand since Hacker One was very busy last year finding vulnerabilities in some of the most sensitive software used by the United States military. The Department of Defense selected HackerOne to run the US federal government’s first bug bounty challenge, Hack the Pentagon. 

             Some valuable stats about this blog Copyright 2017

Over the course of a month, hackers working with the company found 138 vulnerabilities. The challenge cost $150,000 to run and saved the DoD over $1 million, according to former defense secretary Ash Carter.

Next up the DoD also awarded HackerOne a $3 million contract to Hack the US Army. Between November 30th and December 21st, participating security researchers discovered 118 vulnerabilities, the first of which was found in just five minutes.

HackerOne is one of several startups, such as Synack and Bugcrowd, that organize bug bounties and vulnerability disclosures for companies. These bug bounties work by organizing security researchers to find vulnerabilities for HackerOne’s customers; the hackers in turn receive a cash reward from the company.

Today HackerOne announced a Series C financing round of $40 million, which was led by Dragoneer Investment Group. The company will use the funds “to invest further in technology development, expand market reach, and continue to strengthen the world’s largest and most diverse hacker community,” according to a press release. Among HackerOne’s other customers are Adobe, Yahoo, Uber, GitHub, Twitter, Slack, Nintendo, General Motors, Airbnb, and Qualcomm.

“Together we hit harder and the results speak for themselves,” HackerOne CEO Marten Mickos said in a press release. “There’s no such thing as perfect software and bug bounty programs are the most efficient and cost-effective solution for finding security vulnerabilities in live software. With support from Dragoneer we are in the best position to rapidly scale and empower the world to build a safer internet.”

The company currently has more than 100,000 hackers registered to hunt bugs on the platform. So far, they have resolved over 37,000 security vulnerabilities for more than 700 customers. HackerOne’s payouts for hackers are also rather high. So far, the company has awarded over $13 million in bug bounties, $7 million of which was awarded in 2016, according to a press release.
A 2016 study by the Ponemon Institute found that the average consolidated total cost of a data breach is $4 million, while the average cost of a breach in the US is $7 million. Bug bounty programs such as HackerOne have their skeptics, though, with security analysts and even founders of bug bounty startups saying that these programs are by no means a silver bullet for cyber-security issues.

It is now time to see the real results for the future, so if you have a profitable idea on this issue or if you want to publish some valuable information drop me a line or two. Meanwhile let's all be safe!

Monday, January 16, 2017

New Year +New Job = New Life and the Millions

The start of a new year is an ideal time to look for a new job – you're fresh with enthusiasm from making New Year's resolutions and you're ready to make changes to improve your life. If you're in a job that just isn't doing it for you, let me tell you something this is the time to stop and get the best job you can get,  this is the time to do it, seize this opportunity to focus more clearly on where you'd like to head career-wise this 2017 and extricate yourself from the old ways.

1-Be Positive about your abilities and the available jobs. While the economic times are not the best, your worth shouldn't be; you're a valuable asset to any company and this is how you need to think about yourself. Whatever the downturns in the economy, there are still jobs for the right person in your field, and this year it's going to be you. If you've been hunting around for a time, use the vibe of 2017 to reinvigorate your search and to get back into the swing of searching further afield with eagerness. It is important to keep in mind that your attitude and posture will impact the way that a potential employer feels about you, so if you're not feeling positive, this will come across in the interview.

Do things that maintain your confidence up: write a blog, exercise, join social events, market yourself. The gratitude and the positive feedback will help to maintain your morale high and  can continue to show your interest in what you're doing, as well as your continued updated experience.

If you're feeling low after a period of searching and not getting far, this is a good time to regroup and think about ways to bolster your confidence. If you're concerned that you may be suffering from a very low dip in self-esteem, get your full energy friends around and consider talking to your close friends and relatives overcome this fallen resilience.

 If you're just feeling flat, use this time to spruce up your image by getting a new haircut, buying something new to wear to interviews, or changing something about your clothes, fashion style, or makeup that represents the slightly older, slightly wiser you this year.

2-Look back over your previous job-hunting effectiveness for the past year. If you've been job-hunting for a while, this may suggest that it's time to reassess your approach and you need to inject new strategies into your job-hunting. Even if you haven't been looking until spurred by a New Year's resolution, the following tips are a good steer:

Think about unsuccessful applications and interviews. Try to pinpoint what you did or didn't do that probably lost you the opportunity and a make a decision to remedy that part of your job-hunting.

Go through your CV. Look at how to improve it and how to represent yourself in a stronger light. What areas are you underselling yourself in? Just as some people exaggerate their values, quite a few more people make the opposite mistake of downplaying their skills and accomplishments.

Think about what you have done so far and look for transferable skills and experiences that you can offer a new employer – this will help you to step out of the rut of staying within your same job type and will open up many more job possibilities. Stick to the truth, use concrete examples to back up your transferable skills and move yourself beyond your current or previous job description.

Have someone else read through your CV to pick up on mistakes and to check that it is making sense in the most concise way possible. If possible, have someone familiar with the industry you're aiming at working in read through your CV to see if it would make their radar pick up. It is important not to be defensive about needing help from other people to prepare yourself as best as possible for the job market; find people you can trust and who resonate with you and you'll receive invaluable guidance.

3-Consider whether you need to brush up your professional or technical skills. This might be a great time of year to enrol in courses that build on or extend your existing knowledge, as a way to improve your job prospects. If you're already working, look for courses offered within your organization. If not, there are many opportunities offered through, summits, classes, and other courses that can boost your existing skills, all these could only add up to your college degree. Sometimes it's the smaller but more specific skills that can set you apart from the other equally qualified people seeking the same job, and if having an up-to-date first aid certificate or computing skill can boost your chances, then give the course some consideration.

4-Start looking for suitable positions. The broader your potential job pool, the better chances you'll have at finding a new job this new year. Don't be shy at selecting as many relevant jobs as possible that match your skill set and are realistically doable for you.

Think beyond where you live. While this might be a scary thought initially, if you are prepared to relocate from where you currently live, you widen the potential job pool even more, especially if you're prepared to move to a place that is a hub for the skills you've got. Even overseas might prove a promising option if you're keen and able to move this far.

Network more. Networking is important for socializing, and drop the stress, at the moment I´m also running this Social Networking Club of Helsinki feel free to join it could also help you to relax and meet new and successful people but it can also help you into  finding your new dream job, and normally people are more inclined to feel positively about someone they've met and connected with positively than only knowing a cover letter and CV. Don't overdo the job hunting around them though; simply be positive, interesting and interested in them, and try to keep in touch with them after meeting.

Take great care with your cover letter. One-size-fits-all cover letters are the least likely to get you the job; personalize the cover letter to the job in question every single time. Make sure the cover letter is addressed to the person who will be reading it, clearly point out how you meet the requirements outlined in the job description and keep it short.

5-Prepare well for Interviews. Common interview mistakes include dressing down, not knowing much (or anything!) about the place you'd like to work for, and poor interview mannerisms. If you have problems with interviews, it is possible to get coaching (contact me) but if that's not an affordable option, at least read as much as possible about interview techniques, and even better, have a friend or family member role play interview situations with your, using a range of normal to tricky questions. This will help to build your confidence, as well as getting you habituated to being interviewed and answering questions quickly but well.

Anticipate the key questions such as telling the interviewer your strengths and weaknesses what you bring to the job, what interests you about the company and position, your willingness to work extra hours/travel/relocate, the ways in which your previous experience is relevant, and being asked if you have any questions. For some industries and jobs, it is also important to have a realistic but fair idea of what salary you believe is appropriate.

6-Be Patient. While this is your New Year's resolution, changing or getting a new job can take time and much of the year may pass before you find a new job. Provided you're expecting it to take time, you're less likely to fret and more likely to persist, which is important in ensuring that you don't lose sight of what you really want from your resolution to get a new job.

Plan a timeline. While you're still feeling enthusiastic and full of renewed vigor about the New Year, making a plan for the coming year's job search is useful because it can determine your goals for job-hunting this year and it will serve as a reminder of where you're headed should you find yourself feeling off course later during the year.

So let´s go out there and let´s get the Best Job we can for this 2017 because we only live once, we can make it happen! share your ideas, tips or suggestions on the comments. And if you have the best job out there check my profile and let me know!