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Video: Behold L.A.’s last trophy property, and it can all be yours for $1 billion
Lifestyle, 4:01
<p>Remember Villa La Leopolda at Villefranche-Sur-Mer? It was – and still is – one of the trophy properties in the south of France.</p> <p>Built by the noted architect Ogden Codman Jr. during the late 20’s, the villa stands on a vast tract of land once owned by King Leopold of Belgium, and passed through several illustrious owners including Gianni Agnelli, Izaak Killam, and Edmond Safra, with Safra’s widow making headlines back in 2008 as she tried to unload the place for a mind-blowing $750 million. Well, here’s something more expensive.</p> <p>Boasting 157 acres of prime, prime land on top of the city of angels with views from Malibu all the way to the San Gabriel Mountains, “The Vineyard” in Beverly Hills has entranced more than a few of Hollywood’s elite into trying to buy it, and it comes with a great story to boot. A story which, as Hollywood Reporter puts it, “could be torn from the pages of a Coen brothers script:”</p> <p>It’s currently marketed at $1 billion. There’s still no house on the property but you do get a driveway, a couple fountains, a helipad, and unrivaled views over L.A. Check out the rest of “The Vineyard’s” story here.<br /> Photo: Michael</p>
Real estate porn: pools
Lifestyle, 4:01
<p>Fall weather doesn't have to mean an end to pool season. Indoor pools can keep homes in the summer spirit despite the climate. Here are three of Sotheby's top indoor pools:</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>In Rhone-Alpes, France, this chalet has a view of the mountains, while enjoying the warmth of a 900-square-meter wooden cottage. The space also has two fireplaces, a spa, a steam shower, and a wine cellar.</p> <p>Set in Montreux, Vaud Switzerland, this 20-meter indoor infinity pool has views of Lac-Leman and the Alps. The 1,000-square-meter property also has a home theater and independent studio.</p> <p>&nbsp;</p> <p>This 25,000-square-foot home is on eight acres of land in Saratoga Springs, New York. Besides this indoor pool, the property also has an outdoor pool, and indoor basketball court, a gym, tennis court, and bowling lane.<br /> Photos: Sotheby's International Realty</p>
The fabulous life of DraftKings CEO Jason Robins
Lifestyle, 4:01
<p>Jason Robins, founder of the fantasy sports unicorn DraftKings, seems to be balling so hard, Fortune says he doesn’t even watch the games anymore:<br /> “The atmosphere is electric, and everyone—from the cheerleaders to the beer vendors—seems to be watching the quarterback’s outstretched hands.</p> <p>Except for Jason Robins.</p> <p>The 34-year-old chief executive of DraftKings, the ascendant daily-fantasy-sports startup, is standing in a mammoth luxury suite high above the action. He has a perfect view of the field—but he’s glued to his smartphone.”<br /> To be fair, while the game we’re talking about here is the first of the 2015 NFL season, DraftKings just scored 200,000 sign-ups that day – its most since its 2012 inception.</p> <p>Robins, #8 in Fortune’s 40 under 40 list, currently has his eye on the fantasy sport world throne, and DraftKings seems to be moving mountains to ensure his ascension.</p> <p>The startup just saw its entry fees climb from $45 million in 2013 to $304 million in 2014, and it spent $20 million on advertising during the NFL’s first week – enough to bump its user base to more than 4.5 million.</p> <p>Still, it faces significant hurdles; Arizona, Iowa, Louisiana, Montana, and Washington are arguing that fantasy sports are games of chance – not skill – and are starting to question the legality of the whole thing. Meanwhile, its closest competitor, FanDuel, is giving DraftKings a serious run for its money.</p> <p>Nevertheless, Robins and the DraftKings crew seem to be unfazed by all this, unfazed enough to continue ignoring the Patriots:<br /> “Back in the DraftKings suite he proudly displays his phone, which is buzzing as some of his 300 employees react to the barrage of new sign-ups. ‘This is nuts,’ writes one. ‘I’ve never seen the lobby light up so much,’ writes another, referencing the homepage of the DraftKings website and app.</p> <p>Robins smiles. He’s confident that DraftKings has a billion-dollar product. He just needs to get it to the millions of people who haven’t yet tried daily fantasy sports—let alone spent money doing it. ‘Once they try it, they like it,’ he says. ‘It’s sticky.’”<br /> Photo: Wiki</p>
Twitter reacts to Boehner resignation
Lifestyle, 4:01
<p>Republican Speak of the House John Boehner announced Friday that he will be retiring at the end of October.</p> <p>My heart is full with gratitude for my family, colleagues &amp; the people of Ohio’s 8th District http://t.co/uylVed86h2 pic.twitter.com/mc5acb9dGs<br /> — Speaker John Boehner (@SpeakerBoehner) September 25, 2015<br /> Boehner has butted heads with President Barack Obama throughout his two terms, but Boehner has also found himself at odds with the more conservative parts of his own GOP. Some are saying the far-right pushed Boehner out. </p> <p>Rep. Pete King: Boehner's resignation is "a victory for the crazies" http://t.co/ZLZfYQTNWJ pic.twitter.com/6RjN5azLeb — Talking Points Memo (@TPM) September 25, 2015</p> <p>Rubio to Value Voters: "Just a few mins ago, Speaker Boehner announced he will be resigning." HUGE ovation. Many standing. — Steve Peoples (@sppeoples) September 25, 2015</p> <p>Schumer praises Boehner while Rubio says it was time for him to go. Gives you a sense of his position — Sam Stein (@samsteinhp) September 25, 2015</p> <p>Reactions to the resignation have been mixed. In a press conference, Obama said Boehner was a "good man" and a patriot. </p> <p>I was right. Pope just knocked him out. http://t.co/uqkZXnQHOe — Downtown Josh Brown (@ReformedBroker) September 25, 2015</p> <p>&nbsp;</p> <p>John Boehner's Legacy Is That He Doesn't Really Have One. http://t.co/dKdYyRIteR — David Corn (@DavidCornDC) September 25, 2015</p> <p>I really hope Boehner becomes a TV host instead of a lobbyist. I'd watch his show.</p> <p>— Josh Barro (@jbarro) September 25, 2015<br /> Either way, Americans will surely miss those crystal blue eyes on their television screens.</p> <p>Typical American Family, shown here, reacts to the Boehner resignation pic.twitter.com/fhAn8smmxV — Rudolf E. Havenstein (@RudyHavenstein) September 25, 2015</p>
Twitter rips on ex-hedgie over drug price surge
Lifestyle, 4:01
<p>Martin Shkreli may be the most hated man in America this month. The CEO of Turing Pharmaceuticals and former hedge funder, Shkreli raised the price of cancer and AIDS drug Daraprim by more than 5,000%. The world reacted with the anger maybe only Bernie Madoff can relate to.</p> <p>There is a reason for Twitter shaming - example #MartinShkreli pic.twitter.com/gRvCbxcpGB<br /> — cheryl (@ehcsztin) September 22, 2015</p> <p>I hear @MartinShkreli is using all that money to fund research on how to get AIDS airborne. — Kumail Nanjiani (@kumailn) September 22, 2015</p> <p>Shkreli, frankly, doesn't give a damn. He openly admits that the pills cost him less than a dollar to manufacture. But the $13.50 a tablet price wasn't enough. He wanted $750 per tablet. </p> <p>I've purchased the rights to the world's orange supply. Oranges are now $10,000 each. Also, turns out you need them to live. #martinshkreli<br /> — Andrew Hibbard (@andrewhibbard) September 22, 2015<br /> Shkreli, whose tweets are protected, has responded to the haters with witty quips like "uh f u." "Protect ya goddamn neck." And "lots of paradoxes in life," reports Fusion.  </p> <p>After raising AIDS drug price from $13.50 to $750/tablet, Martin Shkreli announces he and his dog, Max, will steal XMas from Whoville. — Mark Campbell (@MrWordsWorth) September 21, 2015</p> <p>I have dealt with sociopaths in my life. Like @MartinShkreli, theyre good a putting on a mask of charm while engaged in self-centered evil.<br /> — Kurt Eichenwald (@kurteichenwald) September 21, 2015</p> <p>Martin Shkreli is the most punchable man in America. If you see him, please punch him. Thank you. https://t.co/gUxFmbpt8o — Craig Schaefer (@craig_schaefer) September 21, 2015</p> <p>After the outcry, Shkreli has finally decided to lower the price to something "more affordable." But, he also said the price will be at a level that “is able to allow the company to make a profit, but a very small profit, and we think these changes will be welcomed," reports Forbes. We're guessing he'll still be making a hefty profit in there.</p>
Schwarzmans give $40M to inner-city student scholarship
Lifestyle, 4:01
<p>Blackstone CEO Stephen Schwarzman and his wife Christine have donated $40 million to the "Kids Are Our Capital" program in New York City.</p> <p>The record gift will make up a chunk of the Roman Catholic Archdiocese of New York's $125 million scholarship program for inner-city kids, reports the New York Daily News. The scholarship fund was founded in 1971 to provide financial assistance for Catholic school students in low-income neighborhoods. Most to the 7,000 students in the program are minorities. The majority are able to graduate from high school and attend college, the diocese reports.</p> <p>The Schwarzman donation is thought to be the largest of its kind in the U.S., Cardinal Timothy Dolan says.<br /> Photo: Heather Paul</p>
Wall Street-worthy Yogisms
Lifestyle, 4:01
<p>Yogi Berra, Hall of Fame Yankee's catcher, died Tuesday at age 90. Through his career and until his death, Berra was known for his "Yogisms," or witty, disjointed one-liners he'd come up with in seconds. In honor of the great Yogi, here are some of the top Yogisms Wall Streeters can use at work:</p> <p> It ain't over 'til it's over.<br /> If you don't know where you're going, you'll end up somewhere else.<br /> You can observe a lot just watching.<br /> The future ain't what it used to be.<br /> Nobody goes there anymore. It's too crowded.<br /> We made too many wrong mistakes.<br /> If you can't imitate him, don't copy him.<br /> If the world were perfect, it wouldn't be.<br /> I really didn't say everything I said.<br /> It's deja vu all over again!</p> <p>Photo: Baseball Collection</p>
Private banker Petko Bahovski reveals secrets for ultra rich in new book
Lifestyle, 4:01
<p>Petko Bahovski, 46, is an experienced investment consultant in Zurich, who previously worked for Credit Suisse, JP Morgan and Coutts in Asia, Latin America and Europe. He is also the author of a practical guide How to Choose a Private Bank. He came up with the book idea in 2006-2007 during his transition from investment to private banking. And the idea didn’t let go until the text was published earlier this year, writes FinBuzz.</p> <p>“I noticed that banks sell themselves usually by stressing their strong points. At the same time there exists loads of information on private banking from consulting companies like BCG, KPMG, or McKinsey. But the clients themselves are usually left with bits and pieces of advice, mostly concerning how to open an account in the UK or in Switzerland,” Bahovski explained.</p> <p>Translated into English and Bulgarian (Petko’s native language), the book reveals no names but answers basic questions on private banking matters. How much do you know about your private bank? How can you possibly choose who to trust with your assets? What services can a private bank offer you? How can you find the right private bank that will best suit your purposes and needs on an individual level?</p> <p>The very mission of the book is to expand the mind of the clients before opening an account; you don’t need to be a hedge fund guru to enjoy it. The niche edition of 700 copies (plus an e-book) appeals first and foremost to a more affluent audience that has an investment portfolio of more than $1 million, but it could also serve as an educational source for finance students.</p> <p>It took Bahovski about 3 months to complete the book: the whole process was very intense and intellectually rewarding. He dedicated an entire month solely to writing. The financier worked side by side with an English-speaking editor from a professional publishing company, striving to provide the text with high-quality language.</p> <p>“I’ve received many positive reviews from my target audience. The professional community also finds it useful for their clients, as they can be a little bit more prepared and, at the end of the day, the clients are aware of what they can get from a bank,” Bahovski proudly commented.</p> <p>In the beginning of October, the new book An Introduction to Investment Funds by Bahovski comes out. It will provide a thorough up-to-date summary on the whole investment fund universe and it is certainly a must-have for any investment professional. His third book, which discusses banking fines, is forthcoming.</p> <p>5 tips how to choose a private banker</p> <p>1) Be well-prepared. You should understand what exactly you expect from the bank and its investment portfolio management. The biggest mistake you can make in private banking is to invest into products and services blindly.</p> <p>2) It is extremely important that the private banker is somebody you feel comfortable with. Even when you like the bank, if you don’t like the banker better ask for someone else. There should be a kind of chemistry between the two of you. The banker should have a clear vision of your personal financial situation and your ambitions.</p> <p>3) Don’t get hooked by a brand. Banks that almost collapsed in 2008 are now the winners. If a pharmaceutical company produces an ineffective d</p>
Want to work for Ray Dalio? Then you better be able to answer these questions!
Lifestyle, 4:01
<p>Getting hired at Bridgewater Associates isn't easy. As one of the world's biggest hedge funds, Ray Dalio's firm has a reputation for being incredibly intense, and maybe a little crazy. Dalio has said the self-improvement process is like "when a pack of hyenas takes down a young wildebeest," reports Business Insider. Like companies such as Google, Bridgewater is more interested in forcing an interviewee to think about a complex question than to get a correct answer.  Says Dalio:<br /> "The answer doesn't really matter. It's totally great if the person's thinking on the subject ends in a different place than the beginning, because moving forward together to get at the best answer is more important than being right from the outset."<br /> Here are some of the most interesting Bridgewater interview questions Business Insider found on Glassdoor:</p> <p> For a facilities-manager candidate: "Are there any circumstances under which torture is justified?"<br /> For an investment associate: "Would the world be better off with an open border policy?"<br /> For an investment associate: "Should hate crimes be punished more strictly than regular crimes?"<br /> For a management associate: "Should participation in a team sport be mandated for young children?"<br /> For an investment associate: "Should the U.S. be allowed to kill civilians using drone strikes?"</p> <p>Photo: Richard Toller</p>
Billionaire's whole family struck with Lyme disease
Lifestyle, 4:01
<p>British billionaire John Caudwell announced that he and his entire family have been diagnosed with Lyme disease.</p> <p>Caudwell, a business man and founder of Phones 4u, recently revealed that his 20-year-old son Rufus has a possibly fatal strain of Lyme disease, reports the Daily Mail. Now, Caudwell says that he, as well as his two daughters and ex-wife, have all tested positive for the disease. Lyme disease is known to spread through infected ticks, but the Caudwell case suggests it could also spread from person to person.</p> <p>Rufus had been diagnosed with mental health problems including panic attacks and agoraphobia, but Caudwell says those symptoms are linked to the Lyme disease. Rufus is currently bed-ridden as the disease has progressed.</p> <p>Caudwell says his family is fortunate that it can afford treatment outside of the National Health Service, as the NHS provides little treatment for the disease. He initially kept the diagnosis private, but as the entire family will be treated, Caudwell decided to draw attention to the disease in the U.K.<br /> Photo: John Tann</p>