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Gates to Stanford grads: Let your heart break. It will change what you do with your optimism

http://www.youtube.com/watch?v=Xpory3rRSL0

Gates to Stanford grads: Let your heart break

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Miguel Helft

JUNE 22, 2014, 11:10 PM EDT

Bill and Melinda Gates deliver a stirring address on optimism to Stanford University’s 2014 graduating class.

How do you inspire a group of unusually smart, hard working, optimistic, and largely privileged youngsters who are already destined for success? Encourage them to learn from those most in need; urge them confront inequity; exhort them channel their optimism with empathy; oh, and remind them that for all their accomplishments, they wouldn’t be where they are without a heavy dose of luck. Read more of this post

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One in four European banks may need more capital

One in four European banks may need more capital

Geoffrey Smith

JUNE 23, 2014, 10:11 AM EDT

They’ve been saved by reluctant taxpayers from a eurozone breakup, they’ve been rescued by the ECB from death by bond markets, their economy has been growing for over a year, but over a quarter of European banks think they may still need more capital, according to a survey out Monday.

The survey, by consultants Ernst & Young, lays bare what officials and bankers have been privately acknowledging all year: six years after the financial crisis exploded, many of Europe’s banks are still relying on optimistic internal accounting and indulgent supervision from their national regulators. Read more of this post

Harley-Davidson trades leather and beards for green and clean; premiers prototype of an electric bike, in keeping with the times

Harley-Davidson trades leather and beards for green and clean

Ben Geier

JUNE 23, 2014, 5:31 PM EDT

When you think Harley-Davidson, you probably think about leather, beards, and loud engines. Now, though, you can picture a fully electric bike with a digital display.

The iconic American motorcycle manufacturer held an event in New York City Monday afternoon showing off Project LiveWire, a prototype of the company’s first electric motorcycle. Read more of this post

The case for CEO term limits: The longer chief executives hold the job, a new analysis says, the higher their pay – and the more they take risks that hurt shareholders

The case for CEO term limits

Anne Fisher

JUNE 23, 2014, 11:22 AM EDT

The longer chief executives hold the job, a new analysis says, the higher their pay — and the more they take risks that hurt shareholders.

It’s pretty clear by now that many CEOs of public companiesmake more money than their performance warrants, and thatboards of directors often ignore shareholders who complain about it. But how much does paying the chief executive officer more than he (or, rarely, she) is worth really cost stockholders? Read more of this post

AQR’s Cliff Asness: My Top 10 Peeves

Financial Analysts Journal Volume 70 · Number 1

My Top 10 Peeves

Clifford S. Asness

The author discusses a list of peeves that share three characteristics: (1) They are about investing or finance in general, (2) they are about beliefs that are very commonly held and often repeated, and (3) they are wrong or misleading and they hurt investors.

Indonesia’s Bumi Fails to Change Terms of Bonds as Default Looms

Indonesia’s Bumi Fails to Change Terms of Bonds as Default Looms

By Eveline Danubrata & Umesh Desai on 01:10 pm Jun 23, 2014

Jakarta/Hong Kong. Bumi Resources has failed to change the terms of $375 million of debt nearing its repayment deadline, raising the prospect of default and sending shares of the Indonesian coal miner to an 11-year low.

Asia’s biggest thermal coal exporter, controlled by Indonesia’s influential Bakrie family, said it proposed changing the terms of bonds due Aug. 5 at a meeting on Friday but not enough creditors attended to approve or reject.

Bumi is just one of many Indonesian companies to have funded expansion using debt. The miner’s current plight has highlighted the prospect of others having difficulty servicing debt as commodity prices fall and growth in Southeast Asia’s biggest economy slows. Read more of this post

World Bank Sounds Alarm for Indonesia to Avoid Middle-Income Trap

World Bank Sounds Alarm for Indonesia to Avoid Middle-Income Trap

By Ridho Syukra on 07:50 pm Jun 23, 2014

Jakarta. Indonesia needs economic growth of above 8 percent in order to escape the so-called “middle income trap,” and to provide jobs for 15 million new workers who will join Indonesia’s labor force by 2020, according to a World Bank report.

At the current 5 percent to 6 percent economic growth pace, Indonesians could be trapped in the condition characterized by a per capita income of below $12,000, low investment, slow manufacturing growth, limited industrial diversification and poor labor market conditions, the Washington-based lender explained in a report titled, “Indonesia: Avoiding the Trap,” which was released on Monday. Read more of this post

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