Two decades of unscrupulous deals that made Isabel dos Santos Africa’s wealthiest woman and left oil- and diamond-rich Angola one of the poorest countries on Earth.
For a certain sort of nineteenth-century person—the sort with high risk tolerance and little revulsion to brutality—a natural career lay in whaling. The odds of success here were, by almost every measure, poor. An expedition first needed to find whales in the vastness of the oceans.
The private equity CEO with a fearsome reputation skates on the edges of other people’s catastrophes and manages to walk away richer.
Want to improve your investment results? The deadly sins below are not only among the most serious financial transgressions, but also they’re among the most common. I firmly believe that, if you eradicate these 12 sins from your financial life, you’ll have a better-performing portfolio. 1.
The complex financial schemes that helped Africa’s richest woman amass a fortune at vast cost to the Angolan state can be revealed for the first time after a huge leak of confidential documents from her business empire.
Perhaps, cribbing from the lyrics to the viral song “Old Town Road,” David Tepper is going to take his horse and ride till he can’t no more. That is essentially the sentiment conveyed by the founder of hedge fund Appaloosa Management to CNBC on Friday.
The insistent refrain "new all-time record" has been played so often recently that it sounds like a broken record.
There are 2,153 billionaires globally, and, in 2019, they held more wealth combined than 4.6 billion people, according to the report, which uses data from the Credit Suisse Global Wealth Report and Forbes’ billionaire rankings.
In my 30 years of professional experience, I've worked as an auditor, investor, tax preparer and financial consultant — and I've witnessed the impact of financial literacy (or lack thereof) on countless adults of all ages. Teaching your children about money doesn't have to be complicated.
These last two articles have focused on how common it is for early retirees to continue making money after they say goodbye to the cubicle. I share stories like that because I’ve seen it happen in so many lives, including my own. Plus, if you do it right, work is fun.
A while back, I was asked to give an hourlong presentation where I talked about my key principles of personal finance. I chose to give a presentation where each slide was available for about a minute with one simple rule on each slide, giving me a minute to discuss that rule.
Shane Parrish was a cybersecurity expert at Canada’s top intelligence agency and an occasional blogger when he noticed something curious about his modest readership six years ago: 80 percent of his followers worked on Wall Street. The blog was meant to be a method of self-improvement, helping Mr.
There are as many investment strategies as there are investment opportunities. Some are good; many are terrible. Here’s the one that I lean on the most when I’m looking for low risk and above average returns. Goal: An investment algorithm to lean on hard when it is available.
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Ruja Ignatova called herself the Cryptoqueen. She told people she had invented a cryptocurrency to rival Bitcoin, and persuaded them to invest billions. Then, two years ago, she disappeared.
Vicki Robin had no idea she’d become a millennial icon.
THINK OF THE upper echelons of the money-management business, and the image that springs to mind is of fusty private banks in Geneva or London’s Mayfair, with marble lobbies and fake country-house meeting-rooms designed to make their super-rich clients feel at home.
Growing up in poverty in rural China, where her family collectively lived on as little as $0.44 a day, Kristy Shen learned to make decisions based on pragmatism rather than passion from a young age.
In 2011, my parents gave me a sum of money that was both outrageous and, in the real estate terms of major cities, quite reasonable: 10 percent down on the 250-square-foot apartment I still own in Fort Greene, Brooklyn.
It's difficult to overstate how crushing America's student loan debt situation is. The amount of money adults in the US owe due to educations is over $1.3 trillion and jumps up by more than $2,000 every second. The average borrower owes $28,000, though some owe much more than that.
Meb Faber asked a bunch of us bloggers to give him our top 3-5 most read blog posts of the year. I looked back at my trusty Google Analytics for the first time in a while and discovered that two of my top three in terms of readership were personal finance-related posts.
I’ve never liked talking about the future. The Q&A sessions always end up more like parlor games, where I’m asked to opine on the latest technology buzzwords as if they were ticker symbols for potential investments: blockchain, 3D printing, CRISPR.
The smiling boy visited Sunnybrook Yachts in the summer of 2017, after the value of Bitcoin had reached an all-time high, having tripled in five months. Sunnybrook is the largest yacht brokerage on Canada’s east coast.
I was halfway through a job interview when I realized I was wrinkling my nose. I couldn't help myself.
Early last month, the security team at Coinbase noticed something strange going on in Ethereum Classic, one of the cryptocurrencies people can buy and sell using Coinbase’s popular exchange platform. Its blockchain, the history of all its transactions, was under attack.
Welcome to Reading Lists, comprehensive book guides from the Strategist designed to make you an expert (or at least a fascinating dinner-party companion) in hyperspecific or newsworthy topics, from microdosing and psychedelic therapy to French cooking.
Warren Buffett is one of the greatest investing and business minds today. But aside from his exponential investing success, Buffett is probably most famous for his humorous insights, colorful commentary and wise advice.
The grid’s main purpose is to show long it will take you to retire given various changes in your income and spending levels.
1. “The economy is like a machine.” The bottoms-up way Ray Dalio approaches the economy is analogous to value investing. You start with the simplest possible system since that is the easiest system to understand. For a value investor that relatively simple system is an individual company.
My name is Zach, and I write at Four Pillar Freedom, where I tend to tackle financial topics through data visualization. While J.D. is on vacation, I offered to explore one of his favorite topics: the effects of saving rate versus investment returns.
Investing is one of those things in life people know they should start doing — but never get around to actually doing it. And … why? Especially since there are so many reasons to get started:
One afternoon in October 2009, a former banking executive named Aaron Siegel waited impatiently in the master bedroom of a house in Buffalo that served as his office.
The world needs a more precise way to describe wealth. “Millionaire” is too broad, covering everyone from random pikers with a scant $1 million in net worth all the way up to people just shy of billionaire status. “Billionaire” has the same problem.
Negative interest rates effectively mean that a bank pays a borrower to take money off their hands, so they pay back less than they have been loaned. Jyske Bank, Denmark’s third largest, has begun offering borrowers a 10-year deal at -0.
It’s a bright September morning in San Carlos, California, and Masayoshi Son, chairman of SoftBank, is throwing me off schedule. I’d come, as he had, to meet with the people he’s tapped to run the Vision Fund, his $100 billion bet on the future of, well, everything.
For an investor whose story was featured in a best-selling book and an Oscar-winning movie, Michael Burry has kept a surprisingly low profile in recent years.
Go claim your $125 from Equifax. Right now. Even if $125 isn’t a sum of money that matters to you, even if you don’t feel you were really directly affected by the breach.
This article originally appeared on VICE UK. Like you and every other person in the world, I am no good at New Year puritanism. Two months in, I'm still often drunk and just as unfamiliar with kettlebell squats.
More and more, I'm meeting people who want to know how to retire early. There's been a lot of buzz in the media lately about early retirement, and that's led folks to wonder how much money they would need to quit their jobs — or if early retirement is even something they should consider.
I spent years as a wealth advisor. Now, I run a firm that helps the ultra-rich protect their wealth. Here are my best pieces of money advice: We cannot escape taxes, as they impact not only our earnings but also our investments.
What do professors, real estate agents, farmers, business executives, computer programmers and store clerks have in common? They’re not immune to the harsh reality of living paycheck to paycheck, according to dozens of people who responded to a Washington Post inquiry on Twitter.
This story was co-published with The Atlantic. In the summer of 2008, William Pfeil made a startling discovery: Hundreds of foreign companies that operated in the U.S. weren’t paying U.S. taxes, and his employer, the Internal Revenue Service, had no idea. Under U.S.
At 7:12 on a mild late-summer morning in New York City, WeWork's registration papers hit the Securities and Exchange Commission's website. The filing, called an S-1, was expected.
Amazon’s founder is America’s richest person, but the company paid no corporate income tax last year. How can that be?
In the history of capitalism, this is the hardest time ever to invest. People are going broke, losing their jobs, and fear more than greed rules the news and tries to rule thoughts. In short: people are scared.
[This piece originally appreared in McSweeney’s new issue, The End of Trust, a collection featuring over 30 writers investigating surveillance, technology, and privacy, with special advisors the Electronic Frontier Foundation.
It’s not too hard to build a basic budget, and a few tips and tricks can help you make it really solid. But even a good budget can go awry. There are a handful of mistakes that throw people off, but the good news is: these mistakes are easy enough to fix.
Since millennials first started entering the workforce, their spending habits have been blamed for killing off industries ranging from casual restaurant dining to starter houses.
No, skipping your morning caffeine boost will not make you a millionaire. Welcome to the Smarter Living newsletter! Every Monday, Tim Herrera emails readers with tips and advice for living a better, more fulfilling life. Sign up here to get it in your inbox.
There is a story that is commonly told in Britain that the colonisation of India - as horrible as it may have been - was not of any major economic benefit to Britain itself. If anything, the administration of India was a cost to Britain.
Several weeks ago, I met up with a friend in New York who suggested we grab a bite at a Scottish bar in the West Village. He had booked the table through something called Seated, a restaurant app that pays users who make reservations on the platform.
Millions of students will arrive on college campuses soon, and they will share a similar burden: college debt. The typical student borrower will take out $6,600 in a single year, averaging $22,000 in debt by graduation, according to the National Center for Education Statistics.
Almost every weekday between the fall of 2011 and early 2015, a Russian broker named Igor Volkov called the equities desk of Deutsche Bank’s Moscow headquarters. Volkov would speak to a sales trader—often, a young woman named Dina Maksutova—and ask her to place two trades simultaneously.
In 2017, I decided to quit my job working for a London publisher and move to Japan. I enjoyed my work and had a great social life, but was craving something new and different.
LONDON — Humanity is always moving forward with innovation after innovation improving global quality of life. The last 150 years have seen the most remarkable advancement of technology in history.
WHEREVER I go these days, at home or abroad, people ask me the same question: what is happening in the American political system? How has a country that has benefited—perhaps more than any other—from immigration, trade and technological innovation suddenly developed a strain of anti-immigrant, a
In 2009, I made myself two promises when I started Financial Samurai: 1) write 3X a week on average for 10 years and 2) never lose money again. We had just gone through a financial beating where my net worth got slashed by 35% – 40% in just six months.
Change is a constant and continuous process in life. As we grow older, we change how we dress, what we eat, where we live and who we become friends with.
Bitcoin envy, the ultramodern malaise. News reports are full of this magic internet money’s rocketing value – currently $16,000 – and Facebook is dotted with people who picked some up at $500, $50 or even 50 cents. But the cryptocurrency ship hasn’t yet sailed.
A decade ago this week, Wall Street imploded. Read our special coverage. The global financial crisis is fading into history. But the roots of the next one might already be taking hold.
Life has changed in many cities over recent years, as an astonishing number of people worldwide embrace a new lifestyle based on sharing: They sleep on strangers’ couches when traveling the globe. They drive cars or bikes at any time without ever owning one.
The cost of family health coverage in the U.S. now tops $20,000, an annual survey of employers found, a record high that has pushed an increasing number of American workers into plans that cover less or cost more, or force them out of the insurance market entirely.
The first thing you should know about a woman I know, who I’ll call Annie, is that she volunteers to sit at the hospital with people who are going to die alone, who have no family or friends to be with them during their last moments.
We’ve got budget, retirement account, credit, information security and insurance advice for your independent adult, college student, gap-year taker or future soldier. The summer after high school graduation inevitably includes monthslong encounters with various to-do lists.
With health care and other costs skyrocketing in the U.S., many soon-to-be retirees are considering what once might have been unthinkable: taking their retirement savings and moving overseas for their senior years.
Want to see a five-figure balance in your bank or investment account? Two things to know.
Financial independence means you have enough wealth to live on, without working.
It’s time to declutter.
ProPublica is a nonprofit newsroom that investigates abuses of power. Sign up for ProPublica’s Big Story newsletter to receive stories like this one in your inbox as soon as they are published. The IRS audits the working poor at about the same rate as the wealthiest 1%.
Last week a received a call from a reporter from VICE named Allie Conti, who is setting out on a journey to learn about managing money. Like many of her fellow Millennials, Ms. Conti doesn't have much experience with the markets, investing or even general personal finance:
If you have stellar credit, you want a card with the most competitive offer. After all, if your credit qualifies you for the best, you deserve the best. With so many credit card offers, it’s hard to determine which cards are worth their salt.
Uber, Lyft, Airbnb and Pinterest plan to go public. California’s newly minted rich will be hungry for parties, houses, boats, bikes — and ice sculptures. Here comes the big one! SAN FRANCISCO — Big wealth doesn’t come in monthly paychecks.
If you’re lucky enough to be a member of the global 1%, last year was another good year to be alive (every year is pretty great, though). Your wealth bracket increased its share of global riches so that it holds just over half of global wealth, according to a new report from Credit Suisse.
Everyone says the blockchain, the technology underpinning cryptocurrencies such as bitcoin, is going to change EVERYTHING.
Tina Hay doesn’t think in numbers.
If the very idea of financial planning makes you break out in hives, you’re not alone.
WHEN the Honduran police came to evict her in 2009 Mariana Catalina Izaguirre had lived in her lowly house for three decades. Unlike many of her neighbours in Tegucigalpa, the country’s capital, she even had an official title to the land on which it stood.
On a sunny Saturday morning in New York a few months ago, a group of 50 start-up founders gathered in the dank basement of a Lower East Side bar. They scribbled notes at long tables, sipping coffee and LaCroix while a stack of pizza boxes emanated the odor of hot garlic.