Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts



How To Earn Money On FaceBook


Earn Dollars


Most of the people think that FB is just a social networking website and you can use it only for entertainment or time pass, but only FEW people know that you can use Facebook as a cash cow. But it’s possible only when you’ve a perfect strategy and a complete step by step blueprint. Facebook has more than 600 million users today and it’s a huge market. If you learn how to monetize this market then you’ll start making money in no time.

What I do to make money with Facebook?

Few weeks back, after spending a lot of time and efforts, I developed a really powerful method to make money with Facebook. I call it - “Facebook Wealth Formula” (FWF). Using FWF you can make $500 a day from your own Facebook account and you don’t need to have any prior experience or special skills. Sounds interesting? Then please keep reading… Reading this whole page will take only 3 minutes, but it can be a turning point of your life! Not only this, you’ll get your very own personal copy of Facebook Wealth Formula from this page, TOTALLY FREE!
Usually, I sell FWF at a high price on the websites like Avangate, PayLoadz and Clickbank but because not every one is capable of paying money so I’ve created this website solely for the purpose of giving away 45 copies, FREE OF COST! Yes, 100% FREE and you won’t have to pay even a single penny to get it! Happy?
I know that there’re a lot of newbies who’re struggling to make a fortune on the internet. So, by offering these “No Cost” copies I am helping them to get started, fast! I’ve made this website especially to offer free copies, so consider yourself very lucky if you’ve got one. For your kind information, I would like to tell you that while you’ve 100% FREE access to it, FWF is still selling for a high price on Clickbank and Payloadz . All of my paid customers are really very happy. Most of them have started making money with Facebook within just 2-3 weeks. Isn’t it awesome?

What This Method Is All About?

FWF comes as a PDF file which contains TONS of screenshots and every micro detail about this method. After reading it, you’ll learn how to make $500 a day from your own Facebook account even if you don’t have any website or a product to sell. Yes, you read it right!  After reading this PDF, anyone can make $500 a day from it’s Facebook account with total ease.
If you start applying it IMMEDIATELY, then you’ll see the results within just 4 weeks.
This is the most updated, guaranteed and 100% successful method of making money with Facebook. PERIOD!
Because, I am not charging anything from you and I am offering FWF totally free at this special page (limited copies), so there’s no need to “lure” you by showing any income or traffic screenshots. But still just to tell you how powerful this method is, I would like to share some of the income screenshots below.  I spend not more than 30 minutes a day to keep this system running and still make a killing out of it.
          • Make 5000 Facebook friends in just 7 days, straight!
          • Get 50,000 Facebook “Likes” in just 30 days, AUTOPILOT!
          • Get laser targeted traffic to your websites and blogs.
          • Make over $500 a day, even if you don’t have a website or a blog
Not Only This…
          • You won’t have to be an SEO or Facebook expert.
          • You won’t have to create or develop any game or application.
          • You won’t have to join any Facebook fan page or group or something like that.
          • You won’t have to write articles, SEO contents or anything like that.
          • You won’t have to send email or call anyone.
New book from Malala Yousafzai details journey from schoolgirl to activist



A year ago, Malala Yousafzai was a 15-year-old schoolgirl in northwest Pakistan, thinking about calculus and chemistry, Justin Bieber songs and Twilight movies.

Today she’s the world-famous survivor of a Taliban assassination attempt, an activist for girls’ education – and a contender to win the Nobel Peace Prize later this week.

It’s easy to forget she is still a teenager, and now a long way from home.

The memoir I Am Malala goes some way toward redressing that balance. Published around the world on Tuesday, the book reveals a girl who likes Ugly Betty and the cooking show Masterchef, worries about her clothes and her hair, but also has an iron determination that comes from experience beyond her 16 years.

The book, written with the British journalist Christina Lamb, recounts Malala’s life before and after the moment on Oct. 9, 2012, when a gunman boarded a school bus full of girls in Pakistan’s Swat Valley and asked “Who is Malala?” Then he shot her in the head.

The shooting is described briefly but vividly in the book, which is briskly written but full of arresting detail. “The air smelt of diesel, bread and kebab mixed with the stink from the stream where people still dumped their rubbish,” Malala remembers. One of her friends tells her later that the gunman’s hand shook as he fired.

Around that pivotal event, the book weaves Malala’s life story into the broader tale of her home region of Swat, a remote, mountainous region near the Afghan border. She says it is “the most beautiful place in the world,” but it’s also a crossroads traversed for millennia by armies and invaders, from Alexander the Great to Winston Churchill.

Into this valley, in the years after 9-11 and the U.S.-led invasion of Afghanistan, came the Islamic fundamentalist Taliban. The book describes their arrival – preaching against girls’ education, shutting down DVD sellers and barber shops and displaying the bodies of people they executed. They blew up the region’s ancient Buddha statues, and then they began blowing up schools.

“They destroyed everything old and brought nothing new,” Malala writes.

Malala considers herself a believing Muslim and a proud member of the Pashtun ethnic group, but recounts how from an early age she questioned her culture’s attitude toward women.

“When I was born, people in our village commiserated with my mother and nobody congratulated my father,” she writes.

Her father felt differently. The book recounts her debt to Ziauddin Yousafzai, an educator who founded the school Malala attended and kept it open to girls in the face of pressure and threats. He passed on to his daughter a hunger for knowledge and a questioning spirit.

At 11, she began giving TV interviews in Pakistan about girls’ education. In 2009, she started writing a blog for the BBC Urdu service under a pseudonym.

She soon became well known within Pakistan – and therefore a potential Taliban target. But she was reassured by the thought: “Even the Taliban don’t kill children.”

That optimism proved misplaced, but – miraculously, it seemed to many – Malala survived the shooting.

The final part of the book describes Malala’s life from the moment she regained consciousness in a British hospital, where she had been flown for specialist treatment, with the thought: “Thank God I’m not dead.”

She undergoes intense pain and multiple surgeries. In the hospital, Malala asks why her abdomen appears hard and swollen. It is the top of her skull, removed to alleviate pressure and stored there until it could be reattached.

There are other striking, surprising details. Malaala’s favourite actress is Angelina Jolie. She loves the TV show Ugly Betty, whose central character works at a fashion magazine; Malala dreams “of one day going to New York and working on a magazine like her.”

In the hospital she enjoys the Shrek movies, but is shocked by the scene in Bend it Like Beckham when the female soccer players take off their jerseys to reveal sports bras.

She reads The Wonderful Wizard of Oz – sent to her by former British prime minister Gordon Brown – and identifies with Dorothy, trying to get home.

Malala goes to school in England now, and lives with her family in a house behind a big gate in the city of Birmingham. It reminds her a bit of being under house arrest.

The Malala Fund set up in her name campaigns for girls’ education around the world. She has received multiple awards and addressed the United Nations on her 16th birthday. Later this month she is due to meet Queen Elizabeth II at Buckingham Palace.

She remains determined to return to Pakistan one day and enter politics. And she says the Taliban’s attempt to silence her has backfired spectacularly.

“When I was shot they thought the people would be silenced, they thought that no one would talk,” she told the BBC in a recent interview.

“I think they might be repenting why they shot Malala.”




iPhone and iPad users looking with envy at the ever-ballooning screen sizes of Android devices shouldn't lose hope just yet.
The Wall Street Journal reports that Apple has been experimenting with iPhone screen sizes larger than the current four inches, echoing rumors from earlier this year that the company may be looking to supplement its current offerings.
The WSJ also says that Apple is experimenting with larger iPads, specifically a model with a gigantic 13-inch display. While a larger iPhone would be in line with current trends, the trend in tablets has been toward smaller screen sizes, not larger ones.

In either case, those hoping for a bigger iPhone or lap-sized iPad shouldn't necessarily hold their breath.
Apple regularly tests out new screen sizes and even brand-new product lines without ever bringing them to market; those that do see the light of day can take their time emerging from Apple's labs.
The iPad mini itself was the subject of similar speculation in the months and years before it was finally released, and the iPhone 5's 4-inch screen was the subject of rumors that predate the 3.5-inch iPhone 4S.
Apple is expected to update both the iPad and the iPad mini later this year.
Speculation is that the larger tablet will go on the iPad mini diet, shedding some weight, thickness, and bezel width. The smaller tablet, on the other hand, may or may not receive a high-resolution Retina display -- these rumors have been known to change daily based on what the folks at Apple rumor sites see in their tea leaves each morning.

Both tablets were last refreshed in November 2012.


SAN FRANCISCO -- With Google's business under pressure from mobile advertising prices, CEO Larry Page talked up the potential for none other than the Internet giant's mobile businesses.
Google on Thursday missed Wall Street's expectations for both profit and revenue, sending shares 5% lower in after hours. Concerns continue about so-called cost-per-click prices that advertisers pay Google for Internet-search advertising.
That didn't stop the soft-spoken Page, who in May disclosed vocal chord paralysis issues, from touting the promise of Google's mobile strategy and teasing interest in a coming next-generation of mobile products.
"There's so much excitement around new devices today, and the potential for innovation is tremendous," Page said on a conference call with analysts, investors and members of the media. "I know you are all eagerly anticipating what Motorola is launching soon."
Google purchased Motorola Mobility in a $12.4 billion deal last year and has captured the attention of Silicon Valley watchers awaiting the debut of its Moto X phone. A rare U.S.-made device, Google's Moto X aims to compete with Apple's iPhone and Samsung's Galaxy lineup.
Google's average cost-per-click, which includes clicks related to ads served on Google sites and the sites of its network members, decreased about 6% in the quarter compared with a year ago. Analysts had predicted prices would drop about 3% in the period.
Enormous popularity for mobile computing devices has radically shifted the Internet business landscape in recent years. Companies such as Facebook, Microsoft and Zynga have sounded the alarm in shifting to a mobile focus to meet the rising demands from consumers. Microsoft has mostly missed the mobile bandwagon with low uptake for products running its operating system, while Zynga's CEO has stepped aside amid revenue declines.
"It's hard to fault them (Google), because everyone is still searching for their mobile business model. I think we've figured out that merely transplanting the desktop model to the mobile business is not working," said independent analyst Jonathan Yarmis.
EARNINGS: Read Google's 2Q report
Google reported second-quarter net income of $3.23 billion compared with $2.79 billion a year ago. Revenue in the quarter rose 19% to $14.1 billion.

Analysts were expecting Google to report net income of $3.6 billion on $14.41 billion in revenue for the quarter, according to the survey of estimates from Thomson 


KARACHI: Karachi Stock Exchange (KSE) Thursday closed higher at 23, 114.97 points as investors went bullish on cement and oil stocks giving rise to a rally, which resulted in the realization of 120.25 points.

The benchmark KSE 100-Index vaulted by 0.52 percent before the traders called it a day.


Pakistan State Oil Company Ltd strengthened and Maple Leaf Cement Factory Ltd, being among the top gainers, jumped by 2.31 percent to close at Rs339.98 and 4.98 percent to finish higher at Rs27.21 respectively. (Reuters)


Boeing & the 787 — The hits just keep on coming for Boeing’s 787 Dreamliner. The giant plane maker might have thought it had put the grounding and battery problems  in its rear-view mirror, but that doesn’t seem to be the case. Boeing has placed a big bet on this new wide-body, long range fleet. So far, demand for the plane has remained solid, but one wonders what will happen if problems linger. Boeing shares fell sharply Friday, down more than 5 percent.  Still, year to date the stock is one of the best performing  in the Dow Jones industrial average, up 35 percent.

Earnings on the Street — Next week, some of the biggest brand names are reporting their quarterly earnings results. How these corporate titans perform and their outlook on the economy going forward will have a big impact on the markets and provide a good read on the strength of the recovery.  Coca-Cola reports on Tuesday; IBM and Intel on Wednesday; Verizon, Google and Microsoft on Thursday; and General Electric on Friday.

Another Week, Another Series of Reads on the Housing Market — On Tuesday, the National Association of Homebuilders releases its monthly survey. This survey will provide insight into the impact of higher mortgage rates on housing activity. On Wednesday, the Housing Starts report for June is released. The expectation is that starts for new homes will rise around 3 percent for June. Additionally, Wednesday is the weekly release of mortgage applications. According to the Freddie Mac mortgage survey, the 30-year fixed mortgage rate has climbed to 4.51 percent as of July 11 from 3.59 percent on May 23.

Gas Prices — Prices at the pump have risen for the past four days and AAA reported on Friday that prices could rise around $0.20 or more over the next two weeks. Will this be a short-lived surge or should drivers expect to see prices keep rising through the rest of the summer? Stay tuned …


Ben Bernanke and Congress  Federal Reserve Chairman Ben Bernanke is scheduled to deliver a monetary policy report to the House and Senate on Wednesday and Thursday morning. He will likely face lots of questions about the economy, his bond buying stimulus program, and — possibly — who he thinks should replace him when he retires from the Fed. This will be a big event for the markets next week.

You may have noticed a lot of buzz lately about Penny stocks. 
Penny stocks refer to the common stock of smaller public companies that trades for less than a dollar per share.  Like other shares of stock, they are regulated by the SEC and other authorities, but instead of trading on the major markets like the NYSE, they trade on “over-the-counter” markets.
Today, penny stocks are offering smaller investors a great opportunity to earn significant up-side on their investments. The benefits occur for two reasons:
1. It doesn’t take a lot of money to invest in penny stocks.
For the price of just one share in large companies such as Apple or Google, you could buy thousands of shares in many penny stock companies.
2. Penny stocks have the potential for huge returns.
Because the price per share is so low, they can experience huge price increases – sometimes even doubling or tripling in just one day.  Price jumps like this do not often occur with larger companies, but are much more common with penny stocks.
Another great thing about penny stocks is that they trade in exactly the same way as shares of larger companies. You can easily track price movements and buy and sell online, or through a traditional broker.
While there is always risk in owning shares of publicly traded companies, the amount people tend to invest in penny stocks is relatively small, so in those instances, if the price of the stock drops, investors do not lose significant amounts of money.
But, with thousands of different penny stocks to choose from, how should you go about finding the right ones to invest in?
One website that is exclusively devoted to tracking and recommending penny stocks isPennyStocks.com. The site tracks the market for these high potential companies, and then alerts its subscribers with the latest picks. In fact, the site’s track record is pretty amazing.  Every single pick they alerted in 2011 and 2012 rose shortly after their alert, and in one case, the pick skyrocketed from 10 cents to $1.20 in just two weeks. That’s an increase of 1,100 percent!
In another instance, the site’s members saw gains of over 2,500 percent, a number rarely seen in regular stocks.  Of course, much of the ability to recognize a return depends upon when you purchase or sell the penny stocks, and these results are not typical or guaranteed. In some cases, where a promotion ends, the stock prices can go back down to their original amounts – so you have to be diligent with your investment and monitor your trading activity closely.
Best of all, you can subscribe to penny stock newsletter 100 percent free. All you need is an email address.

Their newsletter is gathering an increasingly devoted following and for obvious reasons: Since the newsletter is completely free, it’s very simple to subscribe. Take a look around and track what happens to the stocks they recommend. You will never be asked to pay, and if you don’t like the service for any reason, you can unsubscribe at any time you wish.


LAHORE: The maiden Lux Style Awards (LSAs) in Lahore threw up some surprises.
A lot of deserved awards were given out with acknowledgments to Nusrat Fateh Ali Khan and fashion icon Sehyr Saigol.
Humsafar sweeped the satellite television category bagging the best actor awards, best serial and director awards.

Ayesha Omer was a surprise after her debut music album won the best record award.


ISLAMABAD, July 4: Pakistan and the International Monetary Fund agreed on Thursday to a $5.3 billion bailout package. An additional $2bn request will be considered by the IMF Executive Board on Sept 4.
Finance Minister Ishaq Dar and Jeffrey Franks, the head of the visiting IMF staff mission, told a joint news briefing that Pakistan would have to take a number of prior actions, including reduction in fiscal deficit, implementation of an energy plan to put the sector on a stable footing, revival of the privatisation programme and making monetary policy adjustments and, above all, getting these steps approved by the political leadership at the federal and provincial levels to qualify for presentation of the package to the IMF management and executive board for approval.
Mr Dar said the two sides “have reached an agreement for a 3-year programme of at least $5.3bn under an Extended Fund Facility”.
He said Pakistan had requested the IMF management through a conference call to increase the present level of access of 348 per cent of quota ($5.3bn) to 500pc of quota ($7.3bn) with appropriate front loading of disbursements to match Pakistan’s repayment obligations under the previous IMF program-me so that net outflows are not more than fresh disbursements.
Answering a question about an increase in electricity rates as required under the programme, the minister said details of the tariff rationalisation would be announced by the prime minister as part of his energy plan, but the poorest of the poor would be protected from tariff adjustments.
“The programme aims at stabilising Pakistan’s economy and creating an enabling environment for revival of growth,” he said. He pointed out a long list of policy directions to qualify for the programme approval by the IMF board.
The list includes fiscal consolidation, containing inflation, resolution of energy crisis including settlement of circular debt, promotion of social safety nets, strengthening the financial sector, improving business climate, promoting foreign investment, restructuring public sector corporations, reviving the privatisation programme, strengthening corporate governance and building foreign exchange reserves with exchange rate stability.
“This agreement will be reviewed by the IMF management and finalised before going to the executive board, which will consider the proposed agreement in early September, subject to the timely completion of prior actions to be taken by the authorities,” said Mr Franks.
He said the entire amount of loan programme would be payable in three years (36 months) involving about 3pc floating interest rate and repayable over a period of 10 years, making it easier for the authorities to service outstanding loans.
Mr Franks said the focus of the programme was economic growth for which the government would have to take some difficult decisions necessary to stabilise the economy.
He hoped that the other donors would also increase their support to Pakistan as almost half of its requirements would be provided by the IMF while the remaining would have to be arranged through other lenders like the World Bank, Asian Development Bank and large bilateral lenders.
He said Pakistan would have to take a number of prior actions to enable the IMF board to approve the $5.3bn package.
The actions include reduction in fiscal deficit to 6 per cent of GDP, introduction of a comprehensive energy sector reform plan to contain shortages and put it on stable footing, tightening of monetary policy to keep inflation at an acceptable level, improving tax collection through administrative measures and plugging of loopholes in the shape of discretionary tax exemptions, strengthening of public sector enterprises and privatisation of some of them, simplification of trade policy, improvement in climate for doing business and protecting the social sector.
Mr Franks said Pakistan would have to take the entire package to the Council of Common Interests for approval to ensure that federal and provincial governments were on the same page on fiscal consolidation. The condition for the CCI approval has been incorporated to ensure a broad and deep ownership of the bailout package and associated policy initiatives and reform process.
The minister said the government had inherited a broken economy and Pakistan had been saddled with huge payment liabilities of the previous government to retire earlier IMF loans without having adequate foreign exchange reserves.
“Resources from the previous loan were not efficiently utilised with the result that sufficient reserves are not available to service them. We are paying others’ borrowings,” he said when reminded his party’s slogan of breaking the begging bowl.
The public debt, which was about Rs3 trillion in 1999, has increased to Rs14.5trn as of June 30, 2013, and almost Rs2trn of which was built up only last year. The debt-to-GDP ratio has increased to 63pc that will reduce to 61pc this year with a further 2pc cut next year. “You have to appreciate that your net loan is not going up. We are not adding to loan, but taking loans to reduce debt stock,” Mr Dar said.
He said the government had negotiated a home-grown programme. “We are entering a new programme for good of the country. A better tomorrow dawns only when requisite pains are borne today, the pains which are the result of the fiscal and financial indiscipline practised in the last few years.”
Responding to a question about privatisation, the minister said Pakistan was injecting Rs450bn into the loss-making entities, which was not sustainable.
The government would have to improve companies like Railways and PIA to make them profitable and privatise others which are profitable to reduce this bleeding, he said.

Mr Dar said the IMF had demanded elimination of all tax exemptions, but en bloc reversal of statutory regulatory orders (SROs) was not possible and the fund had been convinced that charitable organisations like Imran Khan’s cancer hospital could not be subjected to commercial taxes. He, however, said the two sides had agreed to review all SROs and do away with those created through nepotism and favouritism.


New DelhiThe BJP's parliamentary board - a group of 12 top leaders who make all the crucial decisions in the party - meets for the first time today after Gujarat Chief Minister  elevation as the party's campaign committee chief and the internal crisis the promotion had caused.

Narendra Modi will attend the meeting in Delhi today, which is expected to discuss election strategy and there is speculation that he could lay out the blueprint for the party's 2014 general elections campaign. The board is then expected to give broad approval to his campaign strategy so that he can begin work on it. The board's sanction will mean that Mr Modi will not have to come back to it for a sign-off every time he launches a new initiative.    

Assembly elections are due in several big states by the end of the year and Mr Modi will also attend a meeting of party general secretaries to discuss campaign plans this evening. Sources said former party president Nitin Gadkari could be handed charge of Delhi, one of the states that vote in few months.


On the select team of top BJP leaders that meets this afternoon is also LK Advani, who had last month resigned from all party positions, including the parliamentary board, in protest against Mr Modi being given charge of the party's campaign committee.

The parliamentary board had rejected his resignation and Mr Adavni was cajoled out of his sulk after much effort from top leaders and an assurance from party president Rajnath Singh that Mr Modi's promotion did not signal that he was the fore-runner for being picked the BJP's prime ministerial candidate in next year's elections.
business 


WASHINGTON — US mortgage rates have suddenly jumped from near-record lows and are adding thousands of dollars to the cost of buying a home.
The average rate on the 30-year fixed loan soared this week to 4.46 percent, according to a report Thursday from mortgage buyer Freddie Mac. That is the highest average in two years and a full point more than a month ago.
The surge follows the Federal Reserve’s signal that it could slow its bond purchases this year. A pullback would probably send long-term interest rates even higher.
In the short run, the spike in rates might be causing more people to consider buying a home soon. Rates are still low by historical standards, and would-be buyers would want to lock them in before they rise further.
But eventually, more expensive home loans could price some people out and slow the housing market’s momentum.
‘‘People are getting off the fence a little bit more or choosing to buy now instead of choosing to buy three months from now,’’ said Anthony Geraci, a Cleveland real estate broker-owner.
Mortgage rates are rising because they tend to track the yield on the 10-year Treasury note, a benchmark for most long-term interest rates. The 10-year yield began rising from near-record lows in May after speculation grew that the Fed might be closer to reducing its bond purchases.
In early May, the average rate on a 30-year mortgage was 3.35 percent, just above the record low of 3.31 percent.
But rates began to surge after Fed chairman Ben Bernanke made more explicit comments about the Fed’s plans. He said the Fed would probably scale back its bond-buying later this year and end it next year if the economy continued to strengthen.
The rate on 30-year loan soared from 3.93 percent last week to 4.46 percent this week — the biggest one-week jump in 26 years.
The effect on buyers’ wallets in just the past two months is striking.
A buyer who locked in a 3.35 percent rate in early May on a $200,000 mortgage would pay $881 a month, according to Bankrate.com. The same mortgage at a 4.46 percent rate would run $1,008 a month.
The difference: $127 more a month, or $45,720 over the lifetime of the loan. Those figures don’t include taxes, insurance, or initial down payments.
The rate hike comes at a critical time. Low mortgage rates have helped fuel a housing recovery that has kept the economy growing modestly, despite higher taxes and steep federal spending cuts.
Lower rates have also inspired a refinancing boom over the past two years. Many homeowners have locked in rates below 4 percent. That has lowered their monthly payments, leaving them with more cash to spend elsewhere and fuel more economic growth.
The average rate on a 15-year fixed mortgage, a popular refinancing instrument, soared this week to 3.50 percent — its highest point since August 2011 — from 3.04 percent last week.



In the revolving door between Washington and Wall Street, President Obama’s planned F.B.I. nominee,J, will be just the latest to spin through. And it’s not unusual that the financial institution where Mr. Comey, a former deputy attorney general, had worked was a hedge fund — you may recall thatthe former Treasury secretary, had a short spell at D. E. Shaw, making millions.
What may raise some eyebrows is the hedge fund itself: Bridgewater Associates, the largest hedge fund in the world, with some $120 billion in assets under management.
The first thing that’s remarkable is Bridgewater’s success. Since its founding by Ray Dalio in 1975, it has reaped huge returns. Mr. Dalio was the second-highest-paid hedge fund manager last year, making $1.7 billion despite his fund’s so-so performance, and Forbes estimates his net worth at $12.5 billion. Mr. Dalio, however, is known as much for the work culture he creates as the money he mints. He has written a 123-page manifesto titled “Principles” that is at the center of the distinct philosophy being “lived out” at the fund.
It’s easy to poke fun at the 210 principles as a latter-day model of EST or another 1970s personal discovery group. Take for example the notation in Principle 18 of “pain + reflection = progress,” the Christian-like maxim in Principle 122 to “teach your people to fish rather than give them fish” and the last principle, which lets you know something your mother told you: “Don’t try to please everyone.”
It’s not all about personal attitude. Some of the principles express the harsh type of Darwinian capitalism that financiers tend to love. Principle 131 states that “when people are ‘without a box,’ consider whether there is an open box at Bridgewater that would be a better fit. If not, fire them.”
I’m not really sure what the box is, but I think the principle is saying if you don’t fit inside it, you’re gone.
And of course, because the principles are about being a better person, there is some type of system intended to make you not just improve your life but make you a better employee of Bridgewater. Principle 166, “design your machine to achieve your goals,” sets up a number of objectives for running your life to produce maximum outcomes.
All of this would be sort of comedic except that they are lived out at Bridgewater. And all of the principles are subsumed to a fundamental “truth.” Bridgewater employees are supposed to live in a world of “radical honesty,” a concept that has raised controversy and something that most of us don’t even live out in our homes let alone in the workplace. Employees are encouraged to express their opinions and ideas without bar, criticize what they see as employee failings and search for ultimate truth. Meetings and phone conversations are recorded even at the highest level to make sure that there is a record and no dispute of what is said. And no one is allowed to talk behind the back of another. For those who want a taste, videos are made by young, bright-faced, mostly white employees about how Bridgewater changed their lives.
In an article about the hedge fund, Institutional Investor’s Alpha magazine stated that according to former employees at Bridgewater, “the focus is on an individual’s flaws and mistakes rather than a balance between positives and negatives” and that constant criticism can hurt. Alpha wrote that one employee said that “what [Dalio] doesn’t understand is that if you kick a dog enough … [the dog] curls up and just whimpers. And he kicks pretty hard.”
Because of all of this, The Daily Beast has called it the weirdest hedge fund out there, detailing how Harvard grads were running over themselves to work there, participating in the mock debates that Bridgewater uses to interview prospective employees. Because this is Bridgewater, these debates don’t cover finance but rather topics like abortion.
When I asked Bridgewater to comment on its culture and Mr. Comey’s tenure at the firm, I was referred to those videos online. Mr. Dalio also commented that “President Obama could not have picked a man with greater integrity or a stronger moral beacon than Jim Comey.”
So, what was a prominent Justice Department lawyer and potential top G-man doing in a place like this?
First, for whatever reason, Mr. Dalio’s philosophy works. Bridgewater makes real money, regularly making macroeconomic bets that beat the stock market for its clients, including many of the nation’s pension funds. And this system is intended to solidify and keep together 1,300 people at Bridgewater headquarters in Westport, Conn.
On Wall Street, people don’t mock money. They worship it. So, Mr. Dalio is often hailed as a genius. The New Yorker, in a glowing profile, doubted whether Bridgewater was a cult, saying no one was there against their will. So, maybe the rest of us are living a world of nonsense and Mr. Dalio is right.
The probable next director of the Federal Bureau of Investigation was part of this mind-set for about three years, from 2010 to 2013. Before that, Mr. Comey was general counsel at Lockheed Martin. There, he got decently rich, making $6.1 million in 2009 alone.
He left to become Bridgewater’s general counsel in charge of the legal, compliance and security departments. Presumably, it was for the money — when Mr. Comey discloses his Bridgewater earnings, it will almost certainly be a sum greater, perhaps far greater, than $6 million a year.
But did he buy into the Bridgewater culture? Or was it all about the money?
If it is all about the money and Mr. Comey didn’t believe in the firm or the culture, then this is perhaps a sad commentary on what people are willing to do not just to be rich, but to be superrich. Mr. Comey could have been quite comfortable in his previous job, yet he wanted more.
Or maybe not. Maybe the Bridgewater way is the way of the future and Mr. Comey bought into this belief when he was there. In the New Yorker profile, Mr. Comey was quoted as saying, “The mind control is working. I’ve come to believe that all the probing actually reduces inefficiencies over the long run, because it prevents bad decisions from being made.” Perhaps the F.B.I. is about to experience what “radical honesty” means for government, as well as what it means to fire people who don’t fit in.
Mr. Comey’s reasons for going to Bridgewater and what he thought of the culture there are only speculation at this point. If he is nominated, though, Mr. Comey may want to go before the Senate and let the public know what he thinks of the hedge fund and why he worked there.