The Giving Pledge is a campaign to encourage wealthy people to contribute a majority of their wealth to philanthropic causes. As of 2019, the pledge has 187 signatories, either individuals or couples, from 22 different countries. Most of the signatories of the pledge are billionaires, and their pledges total over $365 billion. It does not actually dictate that the money will be spent in any certain way or towards any particular charity or cause, and there is no obligation to actually donate any money.
Giving Pledgepledge the majority of their wealth to charity
He is the Co-CEO and a member of the Management Committee at Bridgewater Associates, a global macro investment firm with over $160 billion in assets under management. He was formerly Under Secretary of the Treasury for International Affairs. Prior to joining Bridgewater, McCormick spent more than 20 years in the military, government and business. McCormick was Under Secretary of the Treasury for International Affairs from 2007 to 2009, serving as the United States' leading international economic diplomat.
James B. ComeyDirector Comey
Comey's tenure took effect on October 1, 2005, serving in that capacity until June 2, 2010, when he announced he would leave Lockheed Martin to join the senior management committee at Bridgewater Associates, a Connecticut-based investment management firm. Comey received a three million dollar payout from Bridgewater, and his net worth is estimated at 14 million dollars. On February 1, 2013, after leaving Bridgewater, he was appointed by Columbia University Law School as a Senior Research Scholar and Hertog Fellow on National Security Law.
portfolio managementasset managementinvestment manager
Investment management (or financial management) is the professional asset management of various securities (shares, bonds and other securities) and other assets (e.g., real estate) in order to meet specified investment goals for the benefit of the investors. Investors may be institutions (insurance companies, pension funds, corporations, charities, educational establishments etc.) or private investors (both directly via investment contracts and more commonly via collective investment schemes e.g. mutual funds or exchange-traded funds).
billionairesbillionaire, business magnatebillionare
A billionaire, in countries that use the short scale number naming system, is a person with a net worth of at least one billion (1,000,000,000, i.e. a thousand million) units of a given currency, usually major currencies such as the United States dollar, the euro or the pound sterling. Additionally, a centibillionaire (or centi-billionaire) is commonly used to reference a billionaire worth one hundred billion dollars (100,000,000,000). The American business magazine Forbes produces a complete global list of known U.S. dollar billionaires every year and updates an Internet version of this list in real time.
pension fundsretirement fundsuperannuation fund
A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income. Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold about $6 trillion in assets.
A financial endowment is a donation of money or property to a nonprofit organization which uses the resulting investment income for a specific purpose. Usually the endowment is structured so that the principal amount is kept intact, while the investment income is available for use, or part of the principal is released each year, which allows for their donation to have an impact over a longer period than if it were spent all at once. An endowment may come with stipulations regarding its usage.
A foundation (also a charitable foundation) is a legal category of nonprofit organization that will typically either donate funds to and support other organizations, or provide the source of funding for its own charitable purposes. Foundations incorporate public foundations to pool funds (e.g. a community foundation) and private foundations who are typically endowed by an individual or family.
governmentsform of governmentgovernmental
A government is the system or group of people governing an organized community, often a state.
bipolarmanic depressionmanic depressive
Bipolar disorder, previously known as manic depression, is a mental disorder that causes periods of depression and periods of abnormally elevated mood. The elevated mood is significant and is known as mania or hypomania, depending on its severity, or whether symptoms of psychosis are present. During mania, an individual behaves or feels abnormally energetic, happy, or irritable. Individuals often make poorly thought out decisions with little regard to the consequences. The need for sleep is usually reduced during manic phases. During periods of depression, there may be crying, a negative outlook on life, and poor eye contact with others.
central bankscentral bankingcentral banking system
A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates. Central banks also oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, and also prints the national currency, which serves as the state's legal tender. Central banks also act as a "lender of last resort" to the banking sector during times of financial crisis.
Global macro is an investment strategy based on the interpretation and prediction of large-scale events related to national economies, history, and international relations. The strategy typically employs forecasts and analysis of interest rate trends, international trade and payments, political changes, government policies, inter-government relations, and other broad systemic factors.
inflation rateprice inflationfood inflation
In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money a loss of real value in the medium of exchange and unit of account within the economy. A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. The opposite of inflation is deflation (negative inflation rate).
foreign exchangeforexcurrency exchange
The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines the foreign exchange rate. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the Credit market.
SXSWSXSW Film FestivalSouth by Southwest Film Festival
South by Southwest (abbreviated as SXSW and colloquially referred to as South By) is an annual conglomerate of film, interactive media, and music festivals and conferences that take place in mid-March in Austin, Texas, United States. It began in 1987, and has continued to grow in both scope and size every year. In 2017, the conference lasted for 10 days with SXSW interactive lasting for five days, music for seven days and film running concurrently for nine days. Comedy and gaming components to the festival are particularly fast-growing.
GDPnominal GDPper capita GDP
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.
Queens, New YorkQueens CountyQueens, NY
Queens is the easternmost of the five boroughs of New York City. It is the largest borough geographically and is adjacent to the borough of Brooklyn at the southwestern end of Long Island. To its east is Nassau County. Queens also shares water borders with the boroughs of Manhattan and the Bronx. Coterminous with Queens County since 1899, the borough of Queens is the second largest in population (after Brooklyn), with an estimated 2,358,582 residents in 2017, approximately 48% of them foreign-born. Queens County also is the second most populous county in the U.S. state of New York, behind Brooklyn, which is coterminous with Kings County.
NortheastBoston-Maine AirwaysBoston-Maine Central Vermont Airways
Northeast Airlines was a major U.S. air carrier based in Boston, Massachusetts that chiefly operated in the northeastern United States, as well as to Canada, Florida, the Bahamas, Los Angeles and other destinations. The airline was acquired by and merged into Delta Air Lines in August 1972.
Currency overlay is a financial trading strategy or method conducted by specialist firms who manage the currency exposures of large clients, typically institutions such as pension funds, endowments and corporate entities. Typically the institution will have a pre-existing exposure to foreign currencies, and will be seeking to: * limit the risk from adverse movements in exchange-rates, i.e. hedge; and * attempt to profit from tactical foreign-exchange views, i.e. speculate.
alphaexcess returnoutperform market averages
Alpha is a measure of the active return on an investment, the performance of that investment compared with a suitable market index. An alpha of 1% means the investment's return on investment over a selected period of time was 1% better than the market during that same period; a negative alpha means the investment underperformed the market. Alpha, along with beta, is one of two key coefficients in the capital asset pricing model used in modern portfolio theory and is closely related to other important quantities such as standard deviation, R-squared and the Sharpe ratio.
The Master of Business Administration (MBA or M.B.A.) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy.
betabeta coefficient beta coefficient
In finance, the beta (β or beta coefficient) of an investment indicates whether the investment is more or less volatile than the market as a whole.