2014年7月3日星期四

11 Characteristics Of Authentically Happy People



Only a third of Americansdescribe themselves as “very happy.” 
Perhaps that’s why there’s such a market for happiness-related wisdom: Amazon has over 64,000 books on happiness ready for your ordering
But you don’t need to read every book to get a survey of the happiness literature. Below, we’ve combined thoughts from a few insight-packed Quora threads with the latest in psychological research. 
1. Happy people savor it. “Old cliches like ‘stopping to smell the roses’ and ‘it’s the little things in life’?” asks user Durga Ranjan. ”They’re true. The happiness researchers call it ‘Savoring.’” 
Savoring an experience is ”mindfully attending to and appreciating a positive stimulus,” writes Loyola University-Chicago psychologist Fred B. Bryant. His examples of experiences to savor include “a virtuoso musical performance, eating a gourmet meal, soaking in a warm bath, receiving a compliment, spending time with a good friend, or winning an honor or award.” 
2. Happy people don’t compare themselves to others. ”I work in psychiatry and can tell you first-hand that so many seemingly happy and successful people are burning themselves alive on the fire of their inner turmoil,” shares user Matthew Manning. “Focus on you.” 
Indeed, the psych research shows that the way we stand relative to others changes our sense of subjective well-being. It’s for this reason that having a higher status than your immediate peers is a better predictor of subjective well-being than getting paid.
3. Happy people are grateful. University of California, Davis, professor Robert Emmons has been studying gratitude for more than a decade. In experiments, he’s found that people who are prompted to feel gratitude — for a sunset, a friend, or just being alive — are 25% happier than people who haven’t been primed to graciousness. User Ian Vogel likes comedian Louis C.K.’s advice: just appreciate what you got: “People who complain about their cell phone coverage are crazy. Shut up! It’s magic! Enjoy it!”
4. Happy people don’t rehash the past. Emotionally unstable (previously known as neurotic) people tend to ruminate over the things that have happened to them — rehashing, rehearsing, and reliving slights. This mental habit can damage well-being.
All those patterns of thought, those stories you anchor your identity to, those stories you tell yourself to tell you who you are, they aren’t you,” says user Cencio Farre.
5. Happy people meditate. User Konrad Szpirak‘s advice is simple: “meditate.” In the research, folks who learn to meditate report lower levels of rumination and perceived stress. It’s powerful stuff: Cancer patients who start meditating experience declines in mood disturbance. If you’d like to learn how, here’s a good start
6. Happy people find their own definitions of happiness. “We don’t need to be happy to live our lives,” shares user Keinosuke Johan Miyanaga. “But to achieve it, one must seek it first.” Lots of philosophers, psychologists, and scientists have tried to sort out that seeking: Joseph Campbell gives one of the most excellent accounts of the search for happiness in his book “Power of Myth.”
7. Happy people hang with other happy people. “Find people who are kind and genuinely care about you, whose company you enjoy,” writes user Brian Bi. ”These are not very easy to find, so make sure you hang on to the ones you do meet.” 
Like jobs, sickness, and information, happiness travels along the paths of your social bonds. So forming strong friendships with people who care about you will buoy your well-being.
8. Happy people eat well. A third of adult Americans are obese; unsurprisingly, many of them are unhappy. To avoid that fate, start eating cheap, healthy, and delicious meals.
Constantly monitor what you eat and look for ways to improve,” says user Jeff Meyerson. ”This becomes enjoyable if you learn to cook.” 
9. Happy people are funny. But be aware of the contents: self-defeating humor has ill effects on well-being, while self-enhancing humor, naturally, helps you. “Have a sense of humor about everything,” writes Barry Purcell. ”Especially the disgusting, horrible, and depressing stuff.”
10. Happy people earn enough money to absorb unforeseen financial setbacks. Jordan Belfort, the real Wolf of Wall Street, said that “money is a problem that needs to be solved.” Or, in the words of Kanye West, “Money’s not everything / not having it is.” These egomaniacs have a point: People need a base level of income (like $75,000 a year) in order to deal with unforeseen costs and not be exhausted from having to scrutinize every purchase
11. Happy people get enough sleep. 70 million Americans have a sleep disorder, which is problematic, given that lack of sleeps makes people irritable, impulsive, and stupid. So experiment to find out how many hours of sleep you need — and fit it into your routine, advises user Paul Doran.





Here’s The Difference Between A Financial Advisor And Certified Financial Planner



Quick: What’s the difference between a financial advisor and a certified financial planner?
Sometimes there isn’t one.
“Financial advisor” is a broad term that is generally used to refer to most any professional advising you on your finances, up to and including certified financial planners (CFPs).
Certified financial planners, on the other hand, have to be certified by the Certified Financial Planner Board of Standards, Inc., which is why you’ll often see a registered mark after their designation (CFP®).
One of the hallmarks of a CFP is that they have fiduciary responsibility when working on financial planning, which means they have to act in their clients’ best interest.
To become certified, they have to complete what the board calls the four Es: education, examination, experience, and ethics. These planners are certified to advise on everything from taxes to insurance to estate planning, and are required to complete ongoing continued education requirements.
The CFP board keeps track of everyone certified through its program, which makes it simple to do a little homework on a professional before signing on the dotted line.
While not everyone in need of a financial advisor needs a CFP, there’s a certain security that comes with the designation. With a CFP, you can be sure that not only do they have a base level of expertise backed up by a larger organization, but also that they don’t have conflicting interests: They, like you, want what’s best for your money.





10 Things You Need To Know Before The Opening Bell

 

world trade center lightning
REUTERS/Lucas Jackson
Lightning strikes One World Trade Center in Manhattan as the sun sets behind the city after a summer storm in New York July 2, 2014.
Good morning! Here’s what you need to know:
Here Comes The Jobs Report. This jam-packed week of economic data ends with a whopper: the Bureau of Labor Statistics (BLS) employment situation report. Economists estimate that U.S. companies added 215,000 payrolls in June with the unemployment rate unchanged at 6.3%.
But The Number Could Actually Be Huge. Earlier this week, ADP said that U.S. companies added 281,000 private payrolls in June, crushing expectations for 205,000. This has some economists thinking that we could get a big surprise today. “The overall tone of [the ADP] report was unambiguously positive and it suggests that the US labor market may again be firing on all cylinders, and on an accounting basis points to payrolls growth closer to 300K,” said TD Securities Millan Mulraine, who also noted that ADP tends to miss the BLS report by a wide margin. Here’s Societe Generale’s Brian Jones, who’s forecasting 290,000: “A variety of factors support our call for the largest payroll gain since the 360,000 leap recorded at the beginning of 2012. The average number of persons filing initial claims for unemployment insurance benefits contracted by 12,100 to 312,000 over the four weeks heading into the June establishment survey period. The total number of persons collecting unemployment insurance benefits under regular state programs likely contracted by 54,000 to 2.57 million between canvassing periods – the fewest since October 2007 – implying that a substantial number of those previously unemployed are finding work. The impressive breadth of hiring across private industries over the March-May span also points to a pick-up in headline payroll growth.”
Keep An Eye On Wages. Included, in the BLS report will be wage growth data. Economists estimate average hourly earnings climbed by 0.2% month-over-month and 1.9% year-over-year. “Wage rates should be as important now as the jobless rate,” said UBS’s Kevin Cummins. “Although the latter lends insight into the size of the output gap, the former sheds light on whether labor or capital is claiming the upper hand in the perennial struggle for national income. Both are critical to policy-makers watching for signs of rising inflation risks.”
Markets Are Up. U.S. stock market futures are in the green with Dow futures up 16 points, S&P futures up 1.8 points, and Nasdaq futures is up 5 points. In Europe, Britain’s FTSE is up 0.4%, France’s CAC 40 is up 0.4%, Germany’s DAX is up 0.5%, and Spain’s 0.2%. In Asia, Japan’s Nikkei closed down 0.1% and Hong Kong’s Hang Seng closed down 0.1%. U.S. markets close at 1:00 p.m. ET.
Sweden’s Central Bank Cuts. Sweden’s Riksbank cut its benchmark interest rate by 0.5%, which was more than expected by economists. The Swedish krona fell and European stocks rose after the announcement.
Eurozone Sales Are Going Nowhere. Retail sales saw 0.0% growth in May, missing expectations for a 0.3% gain. To make things worse, the April 0.4% growth rate was revised down to -0.2%. “In one line: Slightly disappointing, but we remain optimistic that current momentum can be sustained,” said Pantheon Macroeconomics’ Claus Vistesen noting the 0.7% year-over-year growth. “Consumption growth is still decent in the eurozone, but not as impressive as we would have hoped given the strong trend in consumer confidence.”
Overall, Europe Is Slowing. Markit’s Eurozone composite purchasing managers index (PMI) fell to a six-month low of 52.8 in June from 53.5 in May. “At first glance, June’s PMI survey results make grim reading and raise worries that the euro area’s recovery is already fading,” said Markit’s Chris Williamson. “Dig a little deeper, however, and there are grounds for optimism. We should not lose sight of the fact that, even with the slowdown, the June data round off the best quarter for three years. We should expect economic growth to strengthen from the 0.2% rise seen in the first quarter to perhaps 0.4% in the second quarter.”
Pay Attention To Draghi. The European Central Bank meets today to discuss and decide on the path of monetary policy. Economists expect the ECB to hold the main refinancing rate at 0.15%, the marginal lending facility rate at 0.40% and the deposit facility rate at -0.1%. However, ECB-watchers will be listening for any more information regarding the bank’s plan for targeted ong-Term Refinancing Operations (TLTRO), the subsidized loans in targeted areas, which are intended to boost lending to the non-financial private sector.
Don’t Forget About The Trade Report. Economists estimate that the U.S. trade deficit narrowed to $45.0 billion in May from $47.2 billion in April. “While June employment will no doubt overshadow this morning’s international trade and nonmanufacturing ISM releases, it is worth highlighting the former,” wrote Deutsche Bank economists. “Recall that the -2.9% annualized drop in Q1 real GDP was primarily due to a plunge in net exports, which subtracted 150 bps from overall output and a slower pace of inventory accumulation, which lopped another 170 bps off of growth.”
It’s Worth Watching ISM Services. The ISM non-manufacturing report will be published at 10:00 a.m. ET. Economists estimate this index will be unchanged at 56.3. “The ISM non-manufacturing index probably remained elevated in June, consistent with our economic forecast for a sharp bounce back in growth in the second quarter,” said Citi’s Peter D’Antonio. “The regional and national purchasing managers’ surveys have been running at a feverish pace, offering support for this view.”

The 10 Most Important Things Happening In The World This Morning

janet yellen
REUTERS/Mary F. Calvert
Federal Reserve Chair Janet Yellen.
Good morning! Here’s everything you need to know before your first meeting of the day.

1. The Fed’s Janet Yellen says she is more interested in maintaining a robust underlying finance system than in popping bubbles: The FT says that means there is little chance of an increase in interest rates to head off exuberant stock or bond markets, suggesting that investors will be allowed to inflate and collapse asset classes as long as the underlying financial system is strong enough to withstand any shocks.
2. A new report from UBS analyst Steve Milunovich suggests that voice messaging could actually be the key feature of the iWatch. Milunovich was recently able to talk to Apple CEO Tim Cook, who reportedly mentioned a trip abroad to China where he witnessed people walking down the street and dictating voice messages to their phone instead of texting.
3. Bank of England deputy governor Sir Jon Cunliffe has told the BBC that the housing market poses the “biggest risk” to the UK economy. He’s worried that when house prices rise faster than incomes it leads to too much debt in the economy.
4. Warren Buffett called Jamie Dimon to wish him well on his cancer treatment: He handled the public disclosure of his throat cancer diagnosis well, the FT says, saying that executives have a responsibility to provide shareholders with fast and accurate information about their health.
5. Tinder’s culture was riddled with frat-like behavior, BusinessWeek claims: But Wolfe’s accusation goes even further. Her suit says, “Although it is tempting to describe the conduct of Tinder’s senior executives as ‘frat-like,’ it was in fact much worse—representing the worst of the misogynist, alpha-male stereotype too often associated with technology startups.”
6. The failure of government to protect girls in the U.K. from female genital mutilation is an “ongoing national scandal”, The Guardian says. A cross-party House of Commons committee has called for schools to lose funding if their headteachers do not do more to stop hardline Muslim parents from cutting their children.
7. Former French president Nicolas Sarkozy has been formally charged with influence peddling. The allegation against Mr. Sarkozy is that he sought insider information from a judge regarding an investigation into illegal campaign financing, the BBC says.
8. U.K. Home Secretary Leon Brittan was given a file in 1983 describing child abusers at work in Westminster and Whitehall. But the Home Office yesterday admitted the dossier is either lost or destroyed.
9. The Financial Conduct Authority will investigate whether traders manipulate share prices by placing large orders at the end of the day to boost or depress prices, Mark Garnier MP said at a Treasury Select Committee hearing.
10. People are really angry that Google was required to delete an a link to an article by the BBC’s Robert Peston on the departure of Stan O’Neal from Merrill Lynch. Here is the missing-link blog post, so you can read it yourself.
And finally …
The Independent thinks Andy Murray was unsettled by something shortly before the quarter final match at Wimbledon, which he lost in straight sets. Murray was heard muttering the words “shut the f*** up” to himself, as he struggled to stay in the game, and: “Five minutes before the f***ing match.” There is no further explanation!




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2014年7月2日星期三

STOCKS GO NOWHERE: Here’s What You Need To Know




STOCKS GO NOWHERE: Here’s What You Need To Know



Rafael Nadal
REUTERS/Scott Heavey/AELTC/Pool
Rafael Nadal of Spain attends a news conference after being defeated by Nick Kyrgios of Australia in their men’s singles tennis match at the Wimbledon Tennis Championships.
Stocks went nowhere on the last full trading ahead of the holiday-shortened week, but by virtue of closing with gains, the Dow and S&P 500 each made new all-time closing highs.
First, the scoreboard
  • Dow: 16,970.93, +15, (+0.1%)
  • S&P 500: 1,973.62, +0.3, (+0.01%)
  • Nasdaq: 4,454.39, -4.2, (-0.1%)
And now, the top stories of the day:
1) ADP said private payrolls climbed 281,000, the biggest increase since November 2012. Economists were expected additions of 205,000, up from May’s gain of 179,000. Following the report, Ian Shepherdson at Pantheon Macro said, “In one line: Looks great but ADP’s predictive powers are very limited.” Shepherdson added that, “Still, this is a bigger rebound than we expected. It does not change our payroll forecast, though, which remains at a decent but unspectacular 200K. We worry that the seasonal factors in the official data — which are entirely separate from those used by ADP — were too generous in June last year and will now correct. Any hit will be temporary, though; the labor market is improving steadily despite the short-term noise.” Following the report, Chris Rupkey at Bank of Tokyo-Mitsubishi said, “The economy has big momentum going for it now as uncertainty over the outlook diminishes.”
2) U.S. factory orders for May fell 0.5%, worse than expectations for a decline of 0.3%. This was the final economic data report before the jobs report, set for release at 8:30 am EST tomorrow morning. At the same time as the jobs report, we’ll also get weekly initial jobless claims and the balance of trade report for May. 
3) Federal Reserve Chair Janet Yellen spoke in front of the IMF in Washington, and said she sees, “pockets of increased risk-taking across the financial system.” Among other things, BI’s Rob Wile noted that Yellen said, “credit levels do not suggest borrowers are taking on excessive debt, and that improved capital and liquidity positions at lending institutions should ensure resilience against potential losses due to their exposures.” Yellen also said that monetary policy faces limitations as a tool used to promote financial stability. 
4) In corporate news, Tyson Foods and Hillshire Brands reached a definitive merger agreement under which Tyson will acquire Hillshire for $8.55 billion, or $63 per share. The agreement also includes Tyson paying $163 million to Pinnacle Foods as part of that company’s dissolved merger agreement with Hillshire.
5) GoPro lost more than 12%, the first negative day for the wearable camera maker since its debut last Thursday. The tumble in GoPro comes after yesterday the stock traded above $48, or more than double its $24 IPO price. Karl Loomes, a market analyst with SunGard’s Astec Analytics, said data showed that short sellers are beginning to circle GoPro. Loomes noted that most all of the shares available for borrow to be shorted have been spoken for. 
6) On Friday, the government auctioned off 30,000 Bitcoins, which were all purchased by legendary VC investor Tim Draper. At current Bitcoin prices of around $640, Draper’s haul is worth about $19 million. 
7) A new research note from Morgan Stanley’s Adam Jonas said that despite its massive recalls, General Motors sales have been increasing because, Parker writes, dealers flooded with customers bringing in recalled cars have lead to new sales when there normally wouldn’t be. 

2014年7月1日星期二

5 Years Ago Bernie Madoff Was Sentenced to 150 Years In Prison – Here’s How His Scheme Worked

5 Years Ago Bernie Madoff Was Sentenced to 150 Years In Prison – Here’s How His Scheme Worked

Bernie Madoff
Mario Tama/Getty Images
Five years ago Sunday, Bernie Madoff was sentenced to 150 years in prison for running the biggest fraudulent scheme in U.S. history. Even now, only a few of his victims have since regained all of their losses.
A well-respected financier, Madoff convinced thousands of investors to hand over their savings, falsely promising consistent profits in return. He was caught in December 2008 and charged with 11 counts of fraud, money laundering, perjury, and theft.
Here’s how Madoff conned his investors out of $65 billion and went undetected for decades:
Charles Ponzi
Charles Ponzi, the original Ponzi schemer
Madoff used a so-calledPonzi scheme, which lures investors in by guaranteeing unusually high returns. The name originated with Charles Ponzi, who promised 50% returns on investments in only 90 days.
Ponzi schemes are run by a central operator, who uses the money from new, incoming investors to pay off the promised returns to older ones. This makes the operation seem profitable and legitimate, even though no actual profit is being made. Meanwhile, the person behind the scheme pockets the extra money or uses it to expand the operation.
To avoid having too many investors reclaim their “profits,” Ponzi schemes encourage them to stay in the game and earn even more money. The “investing strategies” used are vague and/or secretive, which schemers claim is to protect their business. Then all they need to do is tell investors how much they are making periodically, without actually providing any real returns.
Ponzi schemes aren’t usually very sustainable. The setup eventually falls apart after: (1) The operator takes the remaining investment money and runs. (2) New investors become harder to find, meaning the flow of cash dies out. (3) Too many current investors begin to pull out and request their returns. 
In Madoff’s case, things began to deteriorate after clients requested a total of $7 billion back in returns. Unfortunately for Madoff, he only had $200 million to $300 million left to give.
Another reason Madoff managed to fly under the radar for so long (despite multiple reports to the SEC about suspicions of a Ponzi scheme), is because Madoff was a well-versed and active member of the financial industry. He started his own market maker firm in 1960 and helped launch the Nasdaq stock market. He sat on the board of National Association of Securities Dealers and advised the Securities and Exchange Commission on trading securities. It was easy to believe this 70-year-old industry veteran knew exactly what he was doing.
Madoff really only made off with $20 billion, even though on paper he cheated clients out of $65 billion, according to CNNMoney. That’s hardly any consolation for his thousands of investors, the full list of whom can be found with WSJ here.
The 150-year sentence, more symbolic than literal, was followed by other convictions related to Madoff’s scheme. In March this year, five of Madoff’s employees were found guilty for their part in the Ponzi scheme. Most recently, Madoff’s accountant and lawyer is also facing up to 30 years in prison for his role.
There are several other notable Ponzi schemes in history, including Allen Stanford’s which stole $8 billion and Tom Petters’ that cheated investors out of $3.7 billion. But as far as scale goes, Madoff wins by a landslide.

DOW, S&P MAKE RECORD HIGHS: Here’s What You Need To Know

DOW, S&P MAKE RECORD HIGHS: Here’s What You Need To Know

Teddy Goalsavelt
REUTERS/Sergio Moraes
A U.S. fan salutes before for the 2014 World Cup round of 16 game between U.S. and Belgium at the Fonte Nova arena in Salvador July 1, 2014.
The Dow and S&P 500 each made new record closing highs as U.S. auto sales in June accelerated to an annualized pace of 16.9 million vehicles.
First, the scoreboard:
  • Dow: 16,980.64, +154, (+0.9%)
  • S&P 500: 1,975.55, +15.3, (+0.8%)
  • Nasdaq: 4,464.22, +56, (+1.3%)
And now, the top stories of the day:
1) U.S. auto sales hit an annualized pace of 16.9 million in June, better than the 16.4 million that was expected by analysts. Some of the notable monthly reports included GM, which reported sales that gained 1% against expectations for a 6.3% decline. GM’s sales report also comes on the heels of a more than 8 million vehicle recall announced yesterday, and late afternoon reports of an explosion at an Indiana plant. Chrysler sales grew 9.2% in June, better than the 5.9% increase that was expected, while luxury brand sales also surged: Mercedes-Benz sales rose 8.2%, Audi sales rose 23.1%, and Porsche sales rose 11%. BI’s Joe Weisenthal stressed earlier today that the auto report would be a huge barometer for the U.S. economy, and following the better than expected auto sales report, it appears the economy just passed a huge test. 
2) The Institute for Supply Management’s latest June manufacturing report came in at 55.3, below expectations for 55.9. The report was also slightly worse than 55.4 reading reported in May. Following the report, Pantheon Macro’s Ian Shepherdson said, “This is a mildly disappointing at the headline, but the details are solid. The new orders index rose 2.0 points to a very high 58.9, boosted by favorable seasonals… Over the tone of the report is pretty solid, with respondents commenting that business is “strong,” “picking up,” and “slightly more favorable than last year.” Following the report, Capital Economics said the report points to U.S. GDP growth of 3% in the second quarter.
3) Markit’s final PMI report for June came in at 57.3, an increase from May’s 56.4 reading. The final index was a bit below the preliminary estimate of 57.5. Markit’s Chris Williamson said of the report, “Manufacturing may account for only 13% of US GDP, but the sheer pace at which the sector is growing means it will have provided a major boost to the economy in the second quarter. Importantly, factory activity remains an important bellwether for the performance of the rest of the economy. We therefore expect GDP to rise at annualized rate in excess of 3%, more than reversing the contraction seen in the first quarter.”
4) Construction spending rose just 0.1% in May, below the 0.5% that had been expected by economists. The growth rate for April, however, was revised up to 0.8% from 0.2%. Following the report, Pantheon Macro’s Ian Shepherdson said, “In one line: Housing finally falters; state and local government rebounding strongly,” adding that, “The details show new housing construction, ex-home improvement, fell 1.2% in May, the first outright decline since Sept ’11. New housing construction has been running ahead of the pace implied by new home sales so we have been waiting for this decline for some time.”
5) Wearable camera company GoPro had the fourth straight huge day since its initial public offering last Thursday, gaining more than 16%. Shares of GoPro were trading above $48 for some of the session, more than double the $24 mark they priced at last Wednesday. 
6) In corporate news, Hormel last night announced the acquisition of CytoSport Holdings, which makes Muscle Milk-brand products, for $450 million. CytoSport’s 2014 sales are expected to total $370 million. In a statement, Hormel CEO Jeffrey Ettinger said, “The acquisition of CytoSport expands our offerings of portable, immediate, protein-rich goods, and broadens our appeal with younger consumers.”
7) The U.S. men’s soccer team was scheduled to take on Belgium in a round of 16 match at the World Cup, set to kick off at 4:00 pm EST.