News > Lifestyle

Video: 'The Big Short' trailer is out
Lifestyle, 4:01
<p>The movie trailer for "The Big Short" has been released. The film, based on Michael Lewis' book about the subprime housing crisis, is in theaters in December. Christian Bale, Steve Carrell, Ryan Gosling, and Brad Pitt star. It's like the "Wolf of Wall Street," but less sexy.</p>
Goldman Sachs is recruiting with Snapchat
Lifestyle, 4:01
<p>Goldman Sachs is looking to scoop up the next generation of talent by getting down with the kids and taking its recruitment drive onto Snapchat, the popular social network for millennials.</p> <p>Reuters reports that Goldman will uses Snapchat - a popular social app for temporary pics and nude selfies -  to fire out a series of ads within its Campus Story function, a curated platform for college-related content.</p> <p>The ads - which do not contain any nudity - makes a call out for  a "Campus Environmental Leader", a "Youth Sports Coach", or a "Crowd Funding Champion," and provides a link to gs.com/campus.</p> <p> Apparently, Goldman is reacting to early signs that graduates are becoming less interested in pursuing a career in finance. </p> <p>This isn’t the first attempt by the investment banking giant to a appeal to young demographic. In a bid to shake off its all work, no play image, Goldman recently told its summer interns to make sure they leave the offices between midnight and 7am during the week, because, y’know dude, YOLO.<br /> Photo: AdamPrzezdziek</p>
Hong Kong hosts closed-door hedge fund fight club
Lifestyle, 4:01
<p>Bankers and traders in Hong Kong competed in the Hedge Fund Fight Nite, an annual event where financial professionals switch office attire for boxing gloves and raise $100,000 for charity, reports FinBuzz.</p> <p>Despite averaging 60+ hour work weeks, 16 boxers (14 men and two women), trained 3-4 times a week for the last five months at the JAB mixed martial arts studio to prepare for the big night, which took place at the Hong Kong Observation Wheel on September 10.</p> <p>EY, BNY Mellon, LexisNexis, and several other professionals from hedge fund and asset management firms wrapped their fists in tape, tied up their boxing gloves and threw punches until they defeated their opponents, all in the name of charity.</p> <p>The black-tie dinner event was filled with spectators seated at tables eager to see familiar financial faces in the boxing ring. A live charity auction was held, and over $100,000 (HK$1 million) was raised for Beam International Foundation, Operation Breakthrough and the Sovereign Art Foundation.</p> <p>In its eighth year, the event continues to attract experienced boxers as well as complete novices working in the Hong Kong financial scene.</p> <p>Though the event was by no measure a typical charity ball, it offered guests an exciting and unique night out, and after the 6 rounds of fighting, the boxers were able to mingle and relax.</p> <p>Participant list:</p> <p>Danny Scinto – Foreign Exchange Trader at BFAM Partners<br /> Megan Schmalzried – Senior Consultant at EY<br /> Ryan Lawson – Associate Director at Sovereign Trust (Hong Kong) Limited<br /> Franc Liu – Analyst at Cathay Conning Asset Management<br /> Alex Oxford LexisNexis Risk Solutions<br /> Will Jeffries – Vice President at BNY Mellon<br /> Stephen Friel – Marketing Director at Asia Frontier Capital Limited<br /> Andries Blom – Senior Trader at Eclipse Options<br /> Stuart Denton – Chief Operating Officer at VoidBridge Limited<br /> Tanya Menzel- Director Training &amp; Development at Jigsaw</p> <p>This story first appeared in FizzBuzz.<br /> Photo: melissa jonas</p>
Video: Say hello to the Monaco Yacht Show
Lifestyle, 4:01
<p>Wondering where to park that extra $50 mil of yours? Well, wonder no more.</p> <p>The annual Monaco Yacht Show is set to begin this week, allowing you to take your pick out of the €3 billion worth of superyachts, sailing yachts, tenders, and various other playthings on display.</p> <p>Among the yachts available for sale or charter are the 85 meter superyacht Solandge, the classically-styled sailer Pink Gin, and the futuristic, high-performance sailing yacht Angel’s Share.</p> <p>If that doesn’t whet your appetite, here’s a video from last year’s event. Check it out.</p> <p>The show starts on the 23rd at Port Hercule in Monaco.<br /> Photo: Steve Corey on and off</p>
Instincts and crisis collecting: Friedhelm Hütte’s career as art dealer at Deutsche Bank
Lifestyle, 4:01
<p> Some of the world's biggest art collections are owned by banks, and not open to the public</p> <p>Banks are best known for making money, but financial institutions also reinvest profits to acquire masterpieces and collections. With almost 60,000 pieces, Deutsch Bank has the world’s largest corporate art collection, reports Finbuzz.</p> <p>&nbsp;</p> <p>Walking into the lobby of Deutsche Bank’s main London office it is clear how much the institution values art. Pieces by Tony Cragg, Damien Hirst, Anish Kapoor, and Keith Tyson line the reception area. Across their UK offices, the bank displays over 4,000 works of art. Deutsche Bank bank also sponsors art projects and exhibitions or fairs. From October 14-17 in Regents Park, for example, the bank will sponsor the Frieze London art fair. The bank also provides a wide range of communication tools. Among these is ArtMag, an online and print art publication to keep up with creative trends in London and beyond.</p> <p>FinBuzz caught up with Friedhelm Hütte, head of the art department at Deutsche Bank, for an interview:</p> <p>Your collection is known to be one of the largest among banks that collect art. So how big is it?</p> <p>Well, we’d rather be modest. But from what we know, it’s the biggest corporate collection in the world. Our collection is all about contemporary art, which means the pieces were produced after 1945. We focus on drawings, mixed media, photographs – all forms two-dimensional art. We always look for new talent and new artists in the market and support them through our “Artist of the Year” award.</p> <p>Why do banks collect art?</p> <p>The first purpose of collecting is to present art in our buildings around the world, 95% of the pieces we own are on display. They are there for the clients to enjoy, to talk about. We also run guided tours, which are open to the general public.</p> <p>Who makes a decision on what to buy or not to buy?</p> <p>Our team is based internationally. Amongst our renown team are advisors like Okwui Enwezor, who just curated the Venice Biennale, or Victoria Northoorn from Buenos Aires. We monitor art magazines and attend art sales. There are about 60-70 artists globally on our watch list and then some of them make it to our collection. My team makes a proposal and then a Committee composed of several executives of the bank makes a decision.</p> <p>Would you say your active interest in contemporary art has something to do with how you position the Deutsche Bank brand?</p> <p>Absolutely. It has a direct link with our brand as contemporary art is all about new ideas and being open; same goes for Deutsche Bank – it is a global bank, which is integrated in many different cultures around the world, it is innovative and forward-thinking. And just as our bank is present on those five continents, we have works of artists from all five continents. So our collection perfectly reflects the philosophy of our bank.</p> <p>Within the impressive collection, are there works or a</p>
Brokers try out fencing skills at Beazley International Trophy tournament
Lifestyle, 4:01
<p>&nbsp;</p> <p>&nbsp;</p> <p>Fencers and brokers alike gathered at the Mansion House on Tuesday for a fencing tournament at the Lord Mayor’s office. Financiers and bankers were invited to watch the semi-final European fencing tournament, sponsored by Beazley Insurance Company.</p> <p>Great Britain, France, Italy, and the USA competed in the semi-final matches of the Beazley International Trophy tournament. Bankers and brokers watched as the sportsmen lunged and parried against the backdrop of Corinthian columns and stained glass windows in the 18th-century mansion.</p> <p>Great Britain was the overall winner, beating Italy in the final after defeating France in the semi-final. Italy overtook the USA in the semi-final to advance to the last stage of the tournament. Team USA took the bronze medal. Here are the full results from British Fencing.</p> <p>Beazley Insurance had their own private guest list of brokers, but the event was also open to the public free-of-charge, for those who managed to sign up on time.</p> <p>While the professionals were taking a break between rounds, a so-called ‘white-collar fencing’ master class was held, so brokers got an opportunity to try out the sport, albeit with plastic fencing tips and masks. The fencing competition was followed by an evening gala.</p> <p>It is the first ever fencing match to have taken place at the Mansion House, which is often used for official City events hosted by the Lord Mayor, a position currently held by Alderman Alan Yarrow.</p> <p>Beazley has invested about £1m in British fencing since 2011 and is a premier partner of British Fencing. The insurer says the sport requires similar skills as a successful insurance broker- discipline, agility and precision. British Fencing is still looking for a sponsor to take the reigns from Beazley.</p> <p>This story first appeared in FinBuzz.</p> <p>Photo: Bastien Mejane</p>
Dick Fuld’s Big Wood River Estate breaks records
Lifestyle, 4:01
<p>Remember Dick Fuld’s Big River Estate? The interwebs were abuzz when “the most hated man in America” decided to put it on the auction block.</p> <p>Here’s what we wrote about it:<br /> “Set on over 70 acres of rolling Idaho plains with 2,100 feet of Big Wood River frontage, the Gorilla of Wall Street’s estate is supposedly “the first and last property of its kind in Sun Valley,” and is expected to be sold by Concierge Auctions for around $30 million to $50 million – a record for the area – according to the New York Post.”<br /> It didn’t! But CNBC reports that it did break records as it sold for more than $20 million Thursday, surpassing the previous record of $19.25 million and taking the crown of the most expensive property ever to be sold by auction.</p> <p>Who the buyer was and how much he paid for it exactly was not disclosed, though we do know that he got a lot for his money, as you can see from the estate’s promotional video:</p> <p>Big Wood River Estate — from Concierge Auctions</p> <p>As for Fuld, I’m pretty sure he’s not hurting. While he may sold this and his Park Avenue penthouse, he still has his Connecticut estate and all signs point to his wife still owning the notorious $100 Florida mansion.<br /> Photo: Wiki</p>
Video: The 3 best finance movies ever made
Lifestyle, 4:01
<p>With the “Wizard of Lies” and “The Big Short” set to hit the screens next year, I thought it was best to revisit some finance movies we’ve loved over the decades and see which ones still pack a punch.</p> <p>Here’s my top three:</p> <p>Margin Call, 2011</p> <p>Arguably the best – and most realistic – finance movie of the 21st century so far, Margin Call chronicles 24 tense hours inside an unnamed investment bank (rumored to be Goldman) that has just discovered its MBS holdings are about to go horrifyingly toxic. Its stars Jeremy Irons as the creatively-named bank CEO, John Tuld, Kevin Spacey as the firm’s S&amp;T chief, Sam Rogers, and a whole host of A-listers which includes Demi Moore in a very Erin Callan-esque role.</p> <p>American Psycho, 2000</p> <p>Okay, so this isn’t exactly a finance movie, but you’d be hard-pressed to find anything as cult-followed as this – save for my #1 – within the community. American Psycho follows Patrick Bateman (Christian Bale), a Vice President at Pierce &amp; Pierce’s M&amp;A department who has unhealthy desire for all material things as well as a penchant for a bit of rape and serial killing. Interestingly, Bale used Tom Cruise as an inspiration for the role, noting his “very intense friendliness with nothing behind the eyes.” Check it out, it’s bone.</p> <p>Wall Street, 1987</p> <p>The gold standard. Hilariously, Oliver Stone set out to create Gordon Gekko as the absolute impersonation of greed, only to have Michael Douglas play the part a little bit too well. Aside from winning an Oscar for his role, Douglas inspired thousands to land a career on Wall Street – and has been routinely stopped on the streets because of it. Hell, there's even a lizard named after Gordon, Cnemaspis gordongekkoi.</p> <p>Honorable mentions:</p> <p> Trader, 1987<br /> Trading Places, 1983<br /> Rogue Trader, 1999</p> <p>Anything else I missed?<br /> Photo: R. Measel Photography</p>
Mr. Tepper builds his dream house
Lifestyle, 4:01
<p>A lot of great things have been done out of love, but few are as awesome as those done out of spite.</p> <p>Jon Corzine, the bearded former CEO of the ill-fated MF Global, reportedly passed over David Tepper for a partnership at Goldman Sachs – twice – while he was ran the firm back in the early 90’s. Well, the future multi-billionaire did not take kindly to that.</p> <p>Fast forward to 2010, Tepper bought Corzine’s former beachfront mansion from the man’s ex-wife, and promptly razed the 6,165 square foot pad to build his own mini fiefdom on the 6.5 acre oceanfront plot instead.</p> <p>Further sticking it to Corzine, Tepper told the New York Mag “you could say there was a little justice in the world” when he bought and leveled the place.</p> <p>And it’s finally finished! The 15,000 square foot mansion now boasts a T-shaped pool, an elegant-looking motor court, a tennis court with an ocean view, and various other amenities fit for a man who bagged $4 billion in 2009 alone.</p> <p>Curbed Hamptons has some pretty cool aerial photos of the place here. Check it out.</p> <p>Photo: Wiki</p>
Hedgie gives NYC teachers a pay boost
Lifestyle, 4:01
<p>Reward good teachers instead of punishing the bad, says Jim Simons, founder of hedge fund Renaissance Technologies.</p> <p>Simons' philanthropic organization, Math for America, gives high performing teachers a bonus, reports Business Insider. The 20-year-old group awards 800 math and science teachers in New York City public schools $15,000 a year. U.S. teachers are paid about $56,383 annually on average, lower than other developed countries, and about 1.3% lower than 13 years ago.</p> <p>"Beating up the bad teachers" does nothing but hurt the education community, says Simons in a recent TED talk interview. Rewarding the good teachers is a better approach, he says. "There's a great morale among them. They're staying in the field. Next year, it'll be 1,000 and that'll be 10 percent of the math and science teachers in New York [City] public schools," says Simons. </p> <p>&nbsp;<br /> Photo: collectmoments<br /> &nbsp;</p>