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The latest news from Business Insider
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    peanut allergy medicine

    • 2019 could be the year of the first treatments for kids with peanut allergies.
    • Two companies are competing for a market of around $3 billion. Both are seeking approval from US regulators to start selling their products.
    • The treatments aren't a cure, but do reduce the risk of a dangerous allergic reaction to peanuts.
    • Some parents say they prefer one product over the other, but it has a key drawback.

    Josh Mandelbaum, 13, has a secret.

    For five years, a small circular sticker on his back, around the size of a quarter, has contained the very thing that the New Jersey teen is allergic to: peanuts.  

    The patch is part of a growing trend that aims to use triggers like peanuts to help those with allergies. The aim is to desensitize them and act like a kind of guard rail against accidental exposure

    You might soon be able to get a prescription for these treatments. The patch and another first-of-its-kind peanut allergy pill could be approved by U.S. regulators as early as next year, and both have the potential to be blockbuster medications.  

    About 15 million people in the U.S. have food allergies to things like milk, eggs and wheat. Peanut allergies are the most common food allergy among kids, and have been on the rise over the last decade. The market for the treatments is huge, and eventually could reach around $3 billion in total sales, according to Stifel analyst Derek Archila. 

    Doctors currently have little to offer patients besides advising them to avoid what they’re allergic to and always carry an EpiPen or product like it to rescue them if they have a life-threatening allergic reaction. Moreover, those with peanut allergies are less likely to outgrow it than other food allergies, and it’s hard to predict how severe an allergic reaction might be.

    A treatment, not a cure

    The new approach has worked for Josh, his mother, Lianne Mandelbaum, who is also a food allergy advocate, told Business Insider. Josh first tried out the product, DBV Technologies’ Viaskin Peanut, as part of a clinical trial years ago.

    In the beginning, as part of a “food challenge” used in the trial, Josh had an allergic reaction after eating the equivalent of a fraction of a peanut, Lianne Mandelbaum said. Two-and-a-half years later, it took much more, about one and a half peanuts, to spur a reaction.

    While that may sound like a tiny change, it's made a huge difference in how Josh lives his life. He can now confidently go to school and sit in a cafeteria that serves peanut butter, for instance, his mother said.

    The patch isn’t a cure: Josh continues to avoid peanut products, for example, and has to be careful about accepting food that could be unsafe. But it's been empowering, she said, and given them peace of mind. 

    "I just don’t want him to die from eating the wrong cookies," she said. "We live in a human society. Humans make errors. That’s why you want a safety gap."

    Mandelbaum was so pleased with the results that she fought to let Josh keep using the patch after the trial ended, through an expanded access program. The only side effects he’s seen have been itchy red welts, which have eased over time.

    Josh would wear it for the rest of his life if he has to, she told Business Insider.

    DBV Viaskin Peanut patch, peanut allergy, food allergies, peanut allergy treatment

    How it all came together

    People with allergies are usually advised to keep away from what they’re allergic to.

    But controlled exposure, called immunotherapy, has also been part of allergists’ arsenal of tools for many years now, including through allergy shots for pollen, mold, dust and more.

    Physicians in private practice have also tried this with peanuts and other food allergies. In what’s called “oral immunotherapy treatment,” patients eat small amounts of peanut or another allergen, which increases over time.

    Though these have had success, they aren’t approved by the U.S. Food and Drug Administration and may not be covered by health insurance. And, like other immunotherapy approaches, they have risks, including the chance of an allergic reaction.

    The search for a more standardized approach eventually led to the creation of Aimmune, which is developing AR101, a capsule of peanut protein that is mixed into food.

    When the company was first started, the big question was “how do you take a food, which is inherently variable and highly unpredictable, and make it into a medicine?” Dr. Daniel Adelman, Aimmune’s chief medical officer, explained.

    The company has done that by focusing on peanut protein, which is where the allergens in the nut are, and using that to re-educate the immune system, he said.

    Seeking FDA approval

    Dosing of AR101 starts at a very low level, or half a milligram of peanut protein, and then increases over about six months to 300 milligrams, or roughly the equivalent of one peanut kernel. Patients then continue on at that level as a maintenance dose.

    Aimmune aims to file with the FDA this month for approval to treat patients ages 4 to 17; a decision could arrive by early fall of 2019. DBV filed for FDA approval of Viaskin Peanut in October to treat patients ages 4 to 11, with a decision expected next year.

    The products could potentially reduce a life-threatening allergic reaction to a milder one, giving patients, their loved ones and their doctors an added layer of safety, Dr. Purvi Parikh, clinical assistant professor at NYU Langone and a board-certified allergist, told Business Insider.

    If they are found to be safe and effective, they could dramatically change patients’ quality of life, Parikh said, reducing an untold amount of anxiety and stress for them and their families.

    But which company could end up leading the space is more unclear. A group of doctors polled by Stifel's Archila slightly favored DBV’s product, he said, though the analyst also noted that there has been controversy over DBV’s clinical trial data.

    Some parents of children with allergies told Business Insider that DBV’s patch seemed safer to them, because it doesn’t require actually eating an allergen. The company also touts this as a potential benefit on its website, saying that its approach “offers a potentially strong safety profile because of how it works via the skin.”

    Read more:An experimental treatment for peanut allergies just succeeded in a key trial

    Tamara Hubbard, a licensed counselor whose nine-year-old son is taking part in an ongoing trial for the patch, called the product “life-changing.” She was initially drawn to it over other options because the process was slower and avoided gastrointestinal side effects, Hubbard said.

    A giant question mark

    On the other hand, those on the patch likely won’t know exactly how much allergen they can tolerate, because — absent completing a “food challenge” — they wouldn’t be eating it.

    Which product a family chooses will likely thus depend on their own preferences, Hubbard, who specializes in food allergy counseling, among other things, said.

    Aimmune’s Adelman also emphasized the latter perspective in an interview with Business Insider.

    “I think that the biggest danger to a child who is peanut allergic is going out into the world and thinking they are protected if they’re not,” he said.

    Pricing — another giant question mark hovering overhead — could also be an important factor. The Institute for Clinical and Economic Review, a nonprofit that evaluates drug prices and, is still reviewing the products and plans to release reports on them in the first half of next year. 

    The companies haven't said how much the drugs will cost.

    Parents, meanwhile, said that they hope everyone who wants these products can get them.

    “Everybody who has food allergies deserves to have access to lifesaving treatment,” food allergy advocate Mandelbaum said. “It should be available to everybody.”

    Join the conversation about this story »

    NOW WATCH: Why Harvard scientists think this interstellar object might be an alien spacecraft


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    Britain's Prime Minister Theresa May attends a news conference after an extraordinary EU leaders summit to finalise and formalise the Brexit agreement in Brussels, Belgium November 25, 2018

    • Theresa May has delayed the Brexit vote scheduled for Tuesday amid fears she would lose by a significant margin.
    • Over 100 Conservative MPs have already voiced their opposition to the deal.
    • The vote was scheduled for Tuesday evening.
    • The Prime Minister will make a statement to parliament at 15.30 GMT.

    LONDON — Theresa May will seek to delay the parliamentary vote on her Brexit deal amid fears that she could suffer a crushing defeat, according to multiple sources.

    The Commons vote on whether to accept or reject May's proposed plan for exiting the EU was due to be held on Tuesday evening, but the prime minister has reportedly told Cabinet ministers that she will now seek to delay the vote.

    The prime minister will make a statement to the House of Commons at 15.30 GMT on Monday afternoon, followed by an emergency statement on forthcoming parliamentary business by the Leader of the House Andrea Leadsom.

    May is expected to confirm that the vote will be delayed until some point after the EU summit in Brussels on Thursday.

    The prime minister reportedly told her Cabinet that they would suffer a big loss if they pressed ahead with the vote adding that she would return to Brussels to renegotiate a "legally-binding assurance" on the so-called Brexit "backstop".

    The backstop is the hugely controversial mechanism by which the UK would be forced to remain tied to EU customs and trade rules indefinitely if it has failed to secure an alternative trade deal with the EU by the end of the two-year transition period.

    It is designed to prevent the creation of a new hard-border between Northern Ireland and the Republic. However, MPs from across the House of Commons believe it would be used to tie Britain to the EU indefinitely.

    The decision to pull the vote comes amid speculation that the government could have lost the vote by more than 100 votes, risking the biggest government defeat since the Second World War.

    To date, 113 Tory MPs have pledged to vote against the government, along with the vast majority of MPs from opposition parties.

    The news led to the pound falling to its lowest level against the dollar in a year and a half.

    Brexiteers in the Cabinet now want May to use the delay to push for changes to the Withdrawal Agreement, particularly on the terms of the backstop for avoiding a hard Irish border, Cabinet sources told BI. 

    "It's not a complicated negotiation — some amendment to the backstop would be fine," one Cabinet source said.

    'Desperate'

    Jeremy Corbyn Brexit

    The opposition Labour party accused the prime minister of taking a "desperate" step to avoid defeat.

    "The Government has decided Theresa May's Brexit deal is so disastrous that it has taken the desperate step of delaying its own vote at the eleventh hour," Labour leader Jeremy Corbyn said.

    "We have known for at least two weeks that Theresa May’s worst of all worlds deal was going to be rejected by Parliament because it is damaging for Britain. Instead, she ploughed ahead when she should have gone back to Brussels to renegotiate or called an election so the public could elect a new government that could do so."

    The Democratic Unionist Party, which props up May's minority government, also accused the PM of presiding over a "shambles".

    "If this is about kicking the can down the road, and getting some tweaks to the political declaration... she knows that is going to work. Quite frankly, it's a bit of a shambles. When you cross red lines, you're in trouble," The DUP's Nigel Dodds said.

    There was widespread confusion on Monday morning as to whether the vote would go ahead on Tuesday as planned, with senior government figures rating the chances 50/50. 

    A spokesperson for the prime minister had insisted on Monday morning that the so-called "meaningful vote" would take place on Tuesday evening as planned and added that May was "confident" of winning it.

    "The vote's going ahead as planned...What we have negotiated over the past months is the best deal and the only deal," May's spokesperson told journalists at a briefing attended by Business Insider.

    They added that they were "confident" May would win the vote.

    The decision to pull the vote followed a series of phone calls by the prime minister to EU leaders over the weekend.

    May spoke to German Chancellor Angela Merkel, Irish Taoiseach Leo Varadkar, European President Jean-Claude Juncker and European Council President Donald Tusk over the weekend, in an apparent attempt to secure last-minute concessions on the Withdrawal Agreement.

    However, EU sources suggest there is no appetite to re-open negotiations.

    A renegotiation is "not going to happen," one senior EU source told BI.

    A spokesperson for the EU commission said there would be no renegotiation: "We will not renegotiate, our position has not changed, and as far as we are concerned the United Kingdom is leaving the European Union on 29 March."

    SEE ALSO: The UK can unilaterally reverse Brexit, rules EU court

    Join the conversation about this story »

    NOW WATCH: Anthony Scaramucci claims Trump isn't a nationalist: 'He likes saying that because it irks these intellectual elitists'


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    The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.

    27983141_10160106622485615_1960627663499262334_o

    • Cookware sets are an affordable way to get all of the pots and pans you need to outfit your kitchen.
    • The experts recommend purchasing fully clad, tri-ply stainless steel, but I've found these sets are pricey and not as user-friendly as nonstick alternatives.
    • I appreciated the T-fal Cookware Set because the nonstick surface made cooking and cleaning effortless, and the set features every pot and pan size I would need for just about any recipe.
    • For its size, the T-fal 17-Piece Hard Anodized Cookware Set is incredibly affordable and it's backed by a limited lifetime warranty.

    I love The Wirecutter and Cook's Illustrated. If I don't know much about something in the kitchen space, I usually begin my research on these sites. Well, both recommend fully clad, tri-ply stainless steel cookware. This is cookware that has a layer of aluminum sandwiched by two layers of stainless steel. I have a cookware set that is fully clad, tri-ply stainless steel. And, you know what? Nine times out of 10, I end up reaching for nonstick cookware instead. Nonstick cookware is easier to clean, requires less oil, and allows more room for error, which is important when ADHD family members forget they're cooking.

    The nonstick cookware I use in my kitchen is the T-fal 17-Piece Hard Anodized Cookware Set. T-fal sent this set to me for free to test out about three months ago. Here are my experiences with it so far.

    My first experiences with the T-fal Cookware Set

    Manufacturers want you to think that you are getting more than you actually are so when they list the number of pieces in a set, you need to keep in mind that included in this number are lids, utensils, or other items that one would hardly consider to be "cookware." Excluding lids, this set has 11 pieces:

    • 8-inch, 10.25-inch, and 11.5-inch (with lid) frying pans
    • 10.25-inch square griddle
    • 1-, 2-, and 3-quart saucepans with lids
    • 3.5-quart deep sauté pan
    • 5-quart Dutch oven with lid
    • 3-quart steamer insert
    • One Egg Wonder frying pan

    All of the pieces except for the steamer insert are made of hard-anodized aluminum, which is resistant to scratching from metal utensils. T-fal states that the set is oven-safe up to 400 degrees Fahrenheit (350 for the lids). They also say that the cookware is dishwasher safe, but washing your pots in the dishwasher will void the warranty.

    How the T-fal Cookware Set performed

    I used the pots and pans for a variety of purposes. Below is a list of the cookware ranked from most used to least and how I used them:

    • 8-inch frying panI use this just about every morning to fry up a few eggs.
    • 11.5-inch frying pan – This was useful for frying and sautéing dishes for family dinners.
    • 2-quart saucepan – If I was boiling pasta for one or two, this was ideal.
    • 5-quart Dutch oven – I put this to work making soup, chicken stock, chili, and boiling water for larger batches of pasta.
    • One Egg Wonder frying pan – As the name suggests, this tiny pan can be used for frying one egg at a time. My teenager loved using this.
    • 3-quart saucepan – I mainly used this for reheating leftovers, especially soups.
    • 10.25-inch frying pan – When making a family breakfast, such as corned beef hash, I turned to this pan.
    • 1-quart saucepan – This was another favorite for the teen, who loves efficient ramen noodle cooking.
    • 10.25-inch square griddle – I found the shape of the square griddle was perfect for cooking bacon.
    • 3-quart steamer insert – I actually used this more as a colander than as a steamer.
    • 3.5-quart deep sauté pan – This piece just wasn't very useful. It's like a hybrid of a pot and a pan. It seemed redundant, and I kept wishing it had a larger diameter. It's 10 inches, and I would have preferred maybe 12 inches, which would make it closer to five quarts.

    The handles come riveted to the cookware, and all the handles except those on the steamer insert are covered with silicone. At no point did any of the handles get so hot that I couldn't hold them with my bare hands.

    I found that ingredients did not stick to the bottoms or sides of the cookware. Even when I skipped adding cooking oil, I was able to loosen food up with minimal effort.

    I simmered a number of soups, chilis, and tomato sauces in the Dutch oven and 3-quart saucepan. Even when I wandered off, these pieces did a wonderful job of maintaining a steady simmer without scorching my creation.

    The nonstick surface made the cookware easy to clean by hand. Due to a criminal combination of laziness and absentmindedness, some of the pots and pans went through the dishwasher. The exteriors of these pieces showed significant wear. However, the interiors still look the same as the day I unboxed them. If you want your cookware to last, I strongly recommend washing it by hand.

    71GpbgWv8GL._SL1500_

    Some concerns about the set

    The only piece missing from the set that I wished it had was a big stockpot. The Dutch oven is too small for boiling a turkey carcass, which is one of my favorite pastimes during the winter. Another popular mainstay on stoves across the country is a 12-inch cast iron skillet, which this set lacked.

    Hard anodized aluminum is great because it's durable, conducts heat well, and has an excellent nonstick surface. But, I found that the pots and pans did not heat evenly. I tested this out by sprinkling flour on the surface of the 11.5 inch frying pan and watched to see how it browned. The flour in the middle browned before the flour around the outside.

    Lastly, since nothing would stick, the pans could not produce a good fond – the brown bits left over after browning meats. I'm not particularly fond of fond, or the pan sauces it produces, so it wasn't a major negative for me. If fond is your jam, adding a cast iron skillet to your arsenal will get the job done.

    The bottom line

    Overall, I am happy with the T-fal 17-Piece Hard Anodized Cookware Set. For the past three months, I have used it on a daily basis, and I appreciate how there is a pot or pan for just about any recipe I try, the nonstick surface keeps my oil use to a minimum, and cleanup is a snap. I strongly recommend this set to beginner cooks as well as seasoned home chefs who want nonstick options.

    At its current price of $170, the T-fal Cookware Set is a good deal. However, according to the Honey app, the price has been known to drop significantly. So, if you are looking to save a few bucks and don't mind waiting, you might consider keeping an eye out for deals.

    Buy the T-fal 17-Piece Hard Anodized Cookware Set on Amazon for $170

    SEE ALSO: I tried the $125 cast iron skillet that raised $1.6 million on Kickstarter — it's lighter, smoother, and worth the extra cost

    Join the conversation about this story »


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    Donald Trump g20

    • President Donald Trump could be jailed or impeached based on new legal evidence, top Democrats have said.
    • They were responding to news surrounding Trump's former personal lawyer Michael Cohen, who has pleaded guilty to facilitating two illegal payments to women during the 2016 presidential campaign.
    • Federal prosecutors on Friday accused Cohen of facilitating the payments "in coordination and at the direction of Individual-1," who is believed to be Trump.
    • Rep. Adam Schiff, the incoming House Intelligence Committee chairman, said Trump could "face the real prospect of jail time" as soon as he leaves office.
    • Rep. Jerry Nadler, the incoming chairman of the House Judiciary Committee, described the alleged actions as "impeachable offenses," though he suggested impeachment might not actually be pursued.

    The incoming chairs of two powerful House committees have predicted legal peril for President Donald Trump, with one referring to recent accusations about Michael Cohen's illegal hush-money payments as "impeachable offenses."

    "There's a very real prospect that on the day Donald Trump leaves office the Justice Department may indict him, that he may be the first president in quite some time to face the real prospect of jail time," Rep. Adam Schiff, the incoming chair of the House Intelligence Committee, told the CBS show "Face the Nation" on Sunday.

    "We have been discussing the issue of pardons that the president may offer to people or dangle in front of people. The bigger pardon question may come down the road as the next president has to determine whether to pardon Donald Trump."

    Schiff was responding to the latest sentencing document from federal prosecutors on Friday, which alleged that the longtime Trump lawyer and confidant Michael Cohen "acted in coordination with and at the direction of Individual-1."

    Individual-1 is widely believed to be Trump. The coordination relates to payments to two women who said they had affairs with Trump. The payments, which Cohen has pleaded guilty to facilitating, were considered illegal campaign contributions meant to aid Trump's campaign.

    "With respect to both payments, Cohen acted with the intent to influence the 2016 presidential election," the memo said.

    "In particular, and as Cohen himself has now admitted, with respect to both payments, he acted in coordination with and at the direction of Individual-1," it added. "As a result of Cohen's actions, neither woman spoke to the press prior to the election."

    Read more:Federal prosecutors say Cohen committed crimes 'in coordination with and at the direction of' Trump

    Trump on Monday morning described the payments as a "private transaction" that "was done correctly by a lawyer and there would not even be a fine." He added that it was the "lawyer's liability if he made a mistake, not me."

    Rep. Jerry Nadler, the incoming chairman of the House Judiciary Committee, also told CNN that if Trump were found to have directed the payments, it would amount to "impeachable offenses," though he did not commit to pursuing impeachment in that scenario.

    Michael Cohen

    "They would be impeachable offenses — whether they are important enough to justify an impeachment is a different question," he told CNN's Jake Tapper.

    "But certainly they'd be impeachable offenses because even though they were committed before the president became president, they were committed in the service of fraudulently obtaining the office — that would be an impeachable offense."

    Jerrold Nadler

    Nadler added that Congress might not immediately impeach Trump, calling the action "an attempt to, in effect, overturn the result of the last election." He said Congress should consider impeachment "only for very serious situations."

    "You don't necessarily launch an impeachment against the president because he committed an impeachable offense," he said. "There are several things you have to look at."

    He added: "One, were impeachable offenses committed, how many, et cetera. Secondly, how important were they? Do they rise to the gravity where you should undertake an impeachment?"

    The new Congress is scheduled to convene on January 3.

    Join the conversation about this story »

    NOW WATCH: Lindsey Graham once warned there would be 'holy hell to pay' if Trump fired Jeff Sessions


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    Reserve Bank of India Governor Urjit Patel

    • Urjit Patel, the head of India's central bank has resigned for "personal reasons."
    • His departure comes five days after the Indian government invoked special powers that would give it more say on some aspects of monetary policy. 
    • Watch the Indian rupee trade live.

    The head of the Reserve Bank of India has resigned for "personal reasons," according to a statement put out by the central bank on Monday morning.

    "On account of personal reasons, I have decided to step down from my current position effective immediately," Urjit Patel said in a press release.

    "It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank’s considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future."

    Patel's resignation comes just five days after the Indian government announced it was invoking the never-before-used special powers under Section 7 of the RBI Act, which allows it consult on things like the central bank's capital reserves and liquidity problem in non-banking financial companies, according to the Indian business publication The Financial Express.

    Patel was named head of India's central bank in August 2016, following the departure of Raghuram Rajan, who returned to academia.

    It is unclear who is in line to be the next central-bank head.

    "The most worrying scenario for investors would be if the government appointed someone from the finance ministry," according to a note put out by Mark Williams, Capital Economics' chief Asia economist.

    "But with two successive governors bowing out under pressure from the government, whoever comes next will have their work cut out to convince markets and investors that the RBI is focused on stabilising inflation close to target.

    The Indian rupee was down 0.75% at 71.3375 per dollar. 

     

    Join the conversation about this story »

    NOW WATCH: A Harvard psychologist reveals the secret to curbing your appetite


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    Jack Bogle Vanguard

    • Jack Bogle wrote his senior thesis at Princeton University about the concept of open-end mutual fund companies. 
    • The thesis would lead to his first job, and some of the principles would become the foundation for Vanguard, which now manages $5.1 trillion. 
    • At the time, mutual funds only oversaw $2 billion. Now, the industry counts $21 trillion of assets. 

    Jack Bogle's senior thesis led to an A+ grade, a job offer, and the foundation for what would become a $5.1 trillion company. 

    As a Princeton University student, Bogle found inspiration for his thesis while flipping through the December 1949 issue of Fortune magazine, he detailed in a book released Thursday, "Stay the Course: The Story of Vanguard and the Index Revolution."

    The article described an unfamiliar business: an open-end fund company, which continuously offers shares for sale, with shares redeemable on demand. The piece chronicled the history of the first such company, Massachusetts Investor Trust, which was founded in 1924 and now does business as MFS Investment Management.

    Bogle's interest was piqued, so he spent the next 18 months researching what became a senior thesis on the history and future prospects of open-end investment companies – the then-standard term for mutual funds. He fell "madly in love with the subject," he wrote. 

    "I was convinced that the 'tiny' $2 billion mutual fund industry would become huge, and would remain 'contentious,'" he wrote, quoting language from the Fortune article. "I was right on both counts: today's $21 trillion mutual fund colossus is among the nation's largest and most dominant financial sectors." 

    Read more:Vanguard's founder nearly failed out of Princeton and was fired from his first company. Here's how he went on to lead a $5.1 trillion firm.

    His 130-page thesis, "The Economic Role of the Investment Company," concluded that such investment companies should be operated as efficiently, honestly, and economically as possible, with future growth maximized by reducing sales charges and management fees. Among his other principles, he said that companies should focus on managing their investment portfolios and serving shareholders, and that they should exert influence on corporate policy. 

    "Mutual funds seem destined to fulfill this crucial segment of their economic responsibility," he wrote. In the year ending June 30, Vanguard engaged with 721 companies under its investment stewardship program, according to its annual report. 

    "Yes, there was a lot of idealism in those conclusions. But, barely out of my teenage years, I was a typically idealistic scholar," Bogle wrote.

    "Six-plus decades after I first read that Fortune article, my idealism has hardly diminished. Indeed, likely because of my lifelong experience in investing, that idealism is even more passionate and unyielding today. There's little question that many of the values I identified in my thesis would constitute the core of Vanguard's remarkable growth." 

    Read more:The man who upended investing by founding $5.1 trillion Vanguard says he admires only 3 rivals, and even made some money off 1 of them

    The thesis earned Bogle an A+. It also impressed the founder of an investment company – Walter Morgan, another Princeton alumnus – who offered Bogle a job at his firm, Wellington Management Company. Bogle would rise to be Morgan's successor as chief executive officer at age 35, before being fired and then founding what would become Vanguard

    Today, Vanguard oversees $5.1 trillion and employs more than 40,000 people. 

    Read more: 

    Join the conversation about this story »

    NOW WATCH: The legendary economist who predicted the housing crisis says the US will win the trade war


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    hottest adtech companies 2018 2x1

    After a few quiet years, 2018 was a big one for advertising and marketing tech.

    Before May, investors and observers worried whether the increasing regulatory scrutiny from Europe's General Data Protection Regulation would shut down companies or dry up venture-capital funding even more than it has in recent years. And while there were a fewinitial casualties of GDPR, VC money continued to flow to a variety of companies, from established programmatic players to data-minded startups trying to shake up TV and digital measurement.

    Seemingly everyone from private-equity firms, agency holding companies,telecoms, and marketing clouds went on acquisition tears, snatching up "mad-tech," a blend of advertising- and marketing-tech companies. A handful of ad-tech companies either quietly faded or went up for sale.

    "You could certainly say that 2018 was a year of consolidation," Mark Wagman, managing director of MediaLink, told Business Insider. "In the view of the marketers and brands we work with, it's still not yet enough consolidation. They hope that more will happen that will simplify their media-value chain."

    In the past our list has often highlighted the hottest pre-IPO companies, but given all the activity this year — and a dwindling number of private companies — we've now opened it to public and private firms. So on this list, major companies that generate billions of dollars in revenue join startups expecting to make a few million dollars this year.

    "Both advertising and marketing professionals should be following a wider swatch of companies who are innovating and executing in this space," said Ana Milicevic, principal and cofounder of Sparrow Advisers, a boutique consultancy that advises advertising and media companies.

    Since we're focusing on upstarts and companies born out of media companies, Facebook, Google and Amazon are intentionally not on the list. That said, the big three are circling practically every one of these companies in some way, whether it's with its data, power, or potential to disrupt an industry.

    Methodology

    There was no one criterion used to decide which companies made our list.

    The lines between ad-tech companies and mar-tech companies continue to blur. So, similar to last year, this list reflects the growing number of mar-tech players we're watching, including some that don't touch paid media at all but instead specialize in data or analytics.

    We looked at a number of factors in evaluating companies, such as headcount, revenue, and recent funding. We also considered what issues the companies are trying to solve, whether it's powering millions of programmatic spend or experimenting with blockchain technology.

    We talked to a lot of execs, analysts, and investors to figure out which companies should, and shouldn't, be included, based on their reputation and with whom they work.

    We tried our best to follow where money and marketers' interest are going. That means a handful of firms valued at billions and have raised millions aren't included. Most notably, you'll notice two categories that are less represented this year than in previous years: social-media management and native advertising.

    Here are the 19 most intriguing ad-tech and mar-tech firms of 2018, listed alphabetically.

    Amobee: Buying up independent ad-tech firms to form a giant tech stack

    CEO: Kim Perell

    Employees: More than 850

    2017 revenue: $800 million

    Comment: The growing competition and squeezed margins make it difficult for independent ad-tech companies to operate. Amobee is betting that building a digital-ad business within the Singapore telecommunications company Singtel can save some of those firms and keep money flowing through the industry. Amobee's bread and butter is software that helps marketers manage data across channels and plan media. It owns data-management platform and demand-side platform Turn, and this year it acquired Videology for $100 million and has hinted that more acquisitions could be coming.



    Beeswax: Ad tech in a box for marketers

    CEO: Ari Paparo

    Employees: 60

    2018 revenue: $25 million

    Total funding to date: $13.3 million

    Comment: Most ad-tech companies work by charging advertisers a fee based on the amount of ad spend. Beeswax’s model is different and promises to save customers like Foursquare money by charging them a flat fee based on how much tech and software they need (starting at $10,000 a month), then stores their tech stack in the cloud. The startup says that business has increased 150% year-over-year, primarily from marketers taking programmatic buying in-house.



    Braze: Crunching data to make smarter email and push notifications

    CEO: Bill Magnuson

    Employees: 270

    2018 revenue: $53 million

    Total funding to date: $175 million

    Comment: Brands are increasingly pumping money into technology that crunches reams of web, email, and mobile data and can fire off millions of personalized push notifications and emails. Braze (formerly Appboy) is somewhat of an alternative to marketing clouds like Salesforce and Adobe but without the high costs and cookie-cutter deals that marketing clouds are known for. And as more marketers focus on collecting first-party data in light of regulation like Europe's GDPR, the hype is at least winning over investors: Braze raised $80 million in Series E funding in October. The company is now valued at $850 million.



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    trader

     

    • AQR, a quant-driven hedge fund, has built up short positions in Deutsche Bank, Bayer and ThyssenKrupp. Marshall Wace and Merian Global also have also shorted German stocks.
    • Germany's DAX Index has underperformed the broader European benchmark this year, hurt by trade-war fears, Deutsche Bank's woes, and government uncertainty

    AQR Capital, a quant-driven hedge fund, is betting about €1.3 billion ($1.5 billion) on a decline in German stocks, joining other short sellers in swirling the index for returns after a brutal year for the country's equities. 

    AQR, which has about $226 billion in assets under management, last week opened a 0.5% Deutsche Bank short bet valued at about €435 million, according to data firm Breakout Point. The positions are in addition to the fund's bearish bets on pharmaceutical company Bayer, semiconductor firm Infineon, automotive manufacturer Continental, and the industrial giant ThyssenKrupp.

    The DAX Index is underperforming its broader European benchmark for the year, down about 17% versus a 13% drop in the Euro Stoxx 50. A whole host of factors has been hurting German companies lately the US-China trade war has been hammering German automakers; Deutsche Bank has been clobbered week after week with terrible news; and uncertainty about the future of the German government isn't helping. For the powerhouse of Europe, things aren't looking good.

    "We have not seen so many DAX big shorts by a hedge fund" since the first quarter, when it said Bridgewater built up short trades on the index, Breakout Point said.

    Read more: Germany's economy is getting hammered by the rest of the world's problems

    German regulators require disclosure of short positions when they reach 0.5% of the target company's stock.

    AQR has the following short positions in German stocks, according to Breakout Point: 

    • AQR's short in Deutsche Bank 2.58% (about €435 million)
    • AQR's short in Bayer 0.7% (about €420 million)
    • AQR's short in Infineon 1.22% (about €255 million)
    • AQR's short in Continental 0.5% (about €130 million)
    • AQR's short in ThyssenKrupp 0.89% (about €85 million)
    • Total € in AQR's big DAX shorts: about €1.325 million

    AQR, based in Greenwich, Connecticut, could not immediately be reached for comment. 

    AQR is not alone in betting against German stocks. Marshall Wace reported a 1.46% short in Deutsche Bank, valued at about €245 million, and a 1.4% short in ThyssenKrupp at about €135 million. Hedge fund Merian Global Investors, formerly called Old Mutual, reported a 0.9% short in HeidelbergCement (about €95 million) and a 0.5% short in the stock exchange operator Deutsche Boerse, about €105 million.

    AQR's bet on Bayer comes as the German company faces thousands of lawsuits over a suspected cancer link to the Roundup weedkiller, made by Bayer's Monsanto unit.

    "Our estimate is that AQR is up about €80 million on their Bayer short since mid October," Breakout Point said.

    The decision by AQR and Marshall Wace to short Deutsche Bank is perhaps not a surprise. The bank's stock has been getting clobbered by bad news week after week — with links to the Danske Bank scandal, police raids on its headquarters for alleged ties to money laundering, and suspicious transactions that may lead to even more fines.

    Deutsche Bank shares

    SEE ALSO: Germany's economy is getting hammered by the rest of the world's problems

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    softbank masayoshi son

    • SoftBank priced its initial public offering Monday.
    • The conglomerate is set to raise as much as 2.65 trillion Japanese yen ($23.5 billion) through the issuance of up to 1.76 billion shares at 1,500 yen ($13) apiece.
    • That makes it the biggest-ever IPO in Japan and one of the largest of all time globally, just shy of Alibaba's $25 billion US IPO.
    • SoftBank will debut on the Tokyo Stock Exchange on December 19.

    Japan's SoftBank on Monday announced that it will raise 2.65 trillion Japanese yen ($23.5 billion) through an initial public offering with overallotment.

    The conglomerate will sell up to 1.76 billion shares, including an additional 160 million shares to meet strong demand, at a price of 1,500 Japanese yen ($13) per share, according to a press release. 

    At $23.5 billion, the IPO will be the biggest ever in Japan and one of the largest of all time globally, just shy of the record $25 billion that Chinese e-commerce giant Alibaba raised through a US IPO in 2014 at the current exchange rate.

    SoftBank's CEO, Masayoshi Son, has drawn global attention for his relations with Saudi Crown Prince Mohammed bin Salman following the killing of Saudi journalist Jamal Khashoggi. About half of SoftBank's $100 billion Vision Fund — a fund that has been investing in solar projects and artificial intelligence — comes from the kingdom. 

    SoftBank will debut on the Tokyo Stock Exchange on December 19.

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    Marc Spilker 5

    • Some people are just wired to wake up early in the morning, according to Marc Spilker, a former partner at Goldman Sachs who's now chairman at Chiron Investment Management. 
    • Spilker insists that it was always easy to get up early and that even in college, he was one of the first to leave the party so that he could wake up early to study. 
    • Spilker says he usually goes to the gym in the wee hours and catches up on email, which he dispatches in a style that also smacks of brutal efficiency. 

    Many corporate executives and successful leaders wake up before sunrise to get a jump on the day. Many, like Bill Clinton, tell of how they had to train themselves early in their careers to function on less sleep. All suggest the practice is worth the difficulty for the promise of success.  

    Not Marc Spilker. The former Goldman Sachs partner and now chairman of a fast-growing asset manager says he wakes up at 4:30 a.m. most mornings simply because he's wired that way. His routine is not the result of grueling training or copious cups of coffee, but learning his biorhythms early on and knowing enough to play to his strength. 

    "I can't explain it," Spilker said in a recent interview with Business Insider. "Everyone is always asking me, 'What are you doing up in the morning?' And I'm like, 'I'm relaxed. My brain is clear. It's functioning.' I hate getting to the office with a mountain of work to do. So instinctually, it always felt good to me. It felt productive."

    Spilker has 30 years of Wall Street success to back up his claims. After a few years spent in Chicago, Spilker joined Goldman Sachs. Over 20 years there, he rose to be co-head of its asset-management arm with a position on the firm's management committee. In 2010, he left Goldman for Apollo Management, where as president he helped the private-equity firm sells share to public. And in 2015, Spilker started Chiron Investment Management with two ex-Goldman colleagues. It now manages roughly $2.7 billion. 

    Spilker said even in college at the University of Pennsylvania he knew he was a morning person.

    "You have to listen to what your body and mind are saying to you," Spilker said. "If I had to study for a test, and it was ten o'clock at night, I struggled. But if it were eight o'clock in the morning, it was like, 'Oh, this is easy.' So instinctually it was like, I've got to go with that because that's what works for me."

    Read more: Here's the morning routine of a CEO who wakes up at 4:45 a.m.

    He carried that thinking into his first job in finance, at a Chicago derivatives trading house known as O'Connor. As a young trader, Spilker would volunteer for the London trading shift, which meant getting into the office at midnight and working through the morning. He'd also work the Japan shift, which meant coming into the office at 6 p.m. and working through the night. He found that harder, he said. 

    These days, Spilker says he uses his early mornings to work out at the gym or process email before heading home to have breakfast with his family. He brings a similarly no-nonsense process to email, too, deciding with each one whether to delete it, process it, or save it for later.

    He'll then wait for that last bucket to fill up so that he can deal with the saved emails all at once. But if they hang around for too many days, Spilker says it gnaws at the edges of his consciousness. 

    "Sometimes it takes me a couple days to get to, but that will bug me," he said. "And then one morning at four o'clock, I'll get up, and my brain will be on fire, and then I'll just wipe it all out and be done with it." 

    Join the conversation about this story »

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    The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.

    Silk wallet phone case

    I'm no tech expert, but I've recently discovered a few accessories that have made using my phone a better experience — especially as a city commuter. One of those gadgets is a PopSocket grip, which makes it easier to hold on to my iPhone X and to use it one-handed, and the other is a case with a built-in card wallet.

    These are slightly different than the folio cases, which usually have card wallets and a flap that folds over and covers the screen of the phone when it's not in use. The ones I prefer have slots on the back of the case and no screen cover.

    I don't use my wallet case as a replacement for a real wallet, but it allows me to carry around a few of the essentials I need regular access to, like my metro card, a credit card, and my work ID. Now that I've been carrying mine around for a while, I'm convinced there's no better option out there for commuters or city-dwellers who need frequent access to their various cards and IDs.

    Here are 7 card wallet cases to keep your essentials close:

    SEE ALSO: All of Insider Picks' holiday gift guides, in one place

    Silk iPhone Wallet Slayer Vol. 1 Case

    Available on Amazon for iPhone 6/6S, iPhone 6 Plus/6S Plus, iPhone 7/8/7 Plus/8 Plus, iPhone X/XS/XR/XS Max, Galaxy S6 edge, all models $13.99-$14.99

    Arguably the most popular of all phone wallets, Silk's Wallet Slayer is about as sleek and simple as they come. The grippy silicone case has room to hold a few cards, and the opening on the left side makes it easy to push the cards up if you're having trouble accessing them. It's compatible with wireless charging and comes in a variety of colors. A few of the sizes even have options to create your own custom design through Amazon. 



    Silk iPhone Wallet Slayer Vol. 2 Case

    Available on Amazon for iPhone 6/6S/6 Plus/6S PlusiPhone 7/8/7 Plus/8 PlusiPhone X/XS/XR/XS Max, Samsung Galaxy S7/S7 Edge, Samsung Galaxy S8/S8+, Samsung Galaxy S9/S9 Plus, all models $14.99-$34.99

    This is the upgraded version of the previous phone wallet by Silk. It features a durable leather pocket for a sleeker look, but has all the same features like wireless charging compatibility. This is the one I use, and I was even able to attach a PopSocket grip to the back of the case on top of the leather. So far, so good. 



    Lopie Sea Island Cotton Series Slim Card Case

    Available on Amazon for iPhone 7/8/7 Plus/8 Plus/iPhone X, all models $14.99-$15.99

    Though the model options are limited, this genuine leather and canvas wallet phone case is a favorite among Amazon shoppers. The inside is made from a sturdy polycarbonate to protect against accidental drops, which is good if you're prone to mishaps. The one thing to note about the canvas is that if you keep your phone in a pocket or purse most of the time, the rubbing may cause color transfers from new denim or the interior of your bag to the corners of the canvas. 



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    fortnite mrdeadmoth

    • Police in Australia charged a 26-year-old with assault after he was accused of hitting a woman while livestreaming himself playing Fortnite.
    • The alleged altercation took place after a woman was heard telling the gamer, known as MrDeadMoth, to get off the game.
    • He grows increasingly frustrated, repeatedly asking her to go away and verbally abusing her. He then moves towards her aggressively and the altercation takes place off camera.
    • The woman and children can be heard screaming. She later accuses him of hitting her in the face.

    Police charged a gamer in Sydney with assault after people heard him allegedly hitting a woman during a Twitch livestream of himself playing Fortnite, the BBC reported.

    The 26-year-old gamer, who goes by MrDeadMoth, can be seen playing the popular video game on Sunday night while a woman off camera repeatedly tells him to stop playing. The man's real name was not reported.

    He repeatedly says "I'll be out soon," before eventually going off screen himself, according to the video reviewed by Business Insider.

    There is an audible altercation for around 15 seconds, during which and a woman and children's screams can be heard.

    "Leave me alone, go away, go away, stop touching my f---ing s--t," the gamer can be then heard saying. "All you had to do was be f---ing patient, you dumb f---."

    What sounded like another off-screen altercation and screaming can be heard for another 30 seconds after that.

    The woman also seemed to address the streaming audience at one point, saying: "You hear that, all you people there? He just hit me in the face."

    He also said: "Just leave me alone for ten f---ing minutes of your life, please."

    Someone reported the incident to the police after watching the footage, which went viral on social media, the BBC said.

    Australian media identified the woman as the gamer's 21-year-old wife. At one point in the video, she also said she was pregnant.

    New South Wales Police said she was "not seriously injured," but "distressed and shaken by the incident."

    Two children, aged three and 20 months, were also present during the alleged altercation, police said.

    Join the conversation about this story »

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    binoculars suit

    • Most equity strategists at major Wall Street firms expect 2019 to be another positive year for the stock market, but with major setbacks.
    • The feverish gains previously seen during this bull market run are not expected to last much longer, and assets that previously underperformed are falling back into favor.
    • Business Insider rounded up the forecasts and investing tips for navigating 2019 from strategists at Wall Street's top firms.

    "Own stocks, but it ends next year."

    That quote, from Savita Subramanian at Bank of America Merrill Lynch, neatly sums up the outlook for next year from most top equity strategists on Wall Street.

    After a year that saw the return of volatility, an ever-escalating trade war between the world's two largest economies, a massive dose of fiscal stimulus, and an extension of the near-record bull run, the consensus is gradually turning bearish.

    Given these factors, investors are being advised to carve out positions in assets that have not been stars of the nearly 10-year bull market, such as cash and value stocks. Moreover, these assets will come in handy if volatility remains high and economic growth slows down next year, as is widely expected.

    We've rounded up these recommendations and other investing tips for navigating the stock market in 2019 from the chief equity strategists at top Wall Street firms. We've also included each person's year-end S&P 500 and earnings-per-share targets.

    SEE ALSO: Goldman Sachs unveils its best trade to profit from an unexpected move from the Fed in 2019

    Goldman Sachs

    S&P 500 price target: 3,000

    EPS target: $173

    Forecast:"A higher US equity market, a lower recommended allocation to stocks, and a shift to higher quality companies summarizes our forecast for 2019," David Kostin, the firm's chief US equity strategist, said in a note.

    "We forecast S&P 500 will generate a modest single-digit absolute return in 2019. The risk-adjusted return will be less than half the long-term average. Cash will represent a competitive asset class to stocks for the first time in many years."

    Investing recommendations:"Increase portfolio defensiveness. Overweight Info Tech, Communication Services, and Utilities. Underweight Cyclicals. Focus on 'high quality' stocks using five metrics: strong balance sheets, stable sales growth, low EBIT deviation, high ROE, and low drawdown experience."



    Bank of America Merrill Lynch

    S&P 500 price target: 2,900

    EPS target: $170

    Forecast:"Still-supportive fundamentals, still-tepid equity sentiment and more reasonable valuations keep us positive," Savita Subramanian, the head of US equity and quant strategy, said.

    "But in 2019, we see elevated likelihood of a peak in the S&P 500. Our rates team is calling for an inverted yield curve during the year, homebuilders peaked about one year ago and typically lead equities by about two years and our credit team is forecasting rising spreads in 2019.

    "Assuming the market peaks somewhere at or above 3000, our forecast is for modest downside in 2019."

    Investing recommendations:"We are overweight health care, technology, utilities, financials and industrials. Our underweights are consumer discretionary, communication services, and real estate.

    "For most of this cycle, stocks enjoyed a lack of compelling asset class alternatives (bonds had elevated price risk, cash yields hit rock bottom). But cash is now competitive and will likely grow more so. Cash yields today are higher than dividend yields for 60% of the S&P 500 today, and our Fed call puts short rates close to 3.5% by the end of 2019, well above the S&P 500's 1.9% dividend yield."



    Morgan Stanley

    S&P 500 price target: 2,750

    EPS target: $171

    Forecast:"After a roller coaster ride in 2018 driven by tighter financial conditions and peaking growth, we expect another range-bound year driven by disappointing earnings and a Fed that pauses," Mike Wilson, the chief US equity strategist, said.

    "Bottom-up S&P 500 consensus EPS growth for 2019 is likely to come down as economic growth decelerates sharply and cost pressures rise. We think there is a greater than 50% chance we experience a modest earnings recession in 2019 defined as two quarters of negative y/y growth for S&P 500 EPS. This growth disappointment is likely to be offset somewhat by a Fed that pauses its rate hike campaign by June."

    Investing recommendations: "We upgrade consumer staples to overweight and REITs to equal-weight while downgrading industrials to equal-weight. We also maintain a modest preference for large over small caps."



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    mark cuban

    • Billionaire investor Mark Cuban said that he invested in legal service Paladin because it's an example of tying business success to societal benefits.
    • Cuban said that today's consumer wants to support companies with a greater purpose and that employees want to work for the same.
    • He said he's seen it through investments he's made on "Shark Tank," as well as how a scandal shook his professional basketball organization.
    • This article is part of Business Insider's ongoing series on Better Capitalism.

    Billionaire investor Mark Cuban has long been a vocal fan of Ayn Rand, author of "The Fountainhead" and "Atlas Shrugged," and champion of the free market and individualism.

    Cuban isn't swearing off Rand, but like many other influential investors and executives, he's determined during the decade since the 2008 financial crisis that there's a better alternative to embracing the ruthless approach often associated with Rand.

    "Capitalism is a little bit under attack right now. And people have an expectation and a perspective on what traditional capitalism is, and it was focused on making money first, second, third, and last," Cuban told Business Insider's global editor in chief, Nicholas Carlson, at our 2018 IGNITION conference.

    "And I think it's a responsibility of any CEO, any entrepreneur, to recognize that having a social conscience is good business."

    Cuban appeared onstage with Paladin cofounders Felicity Conrad and Kristen Sonday, who explained how their company offers a service for law firms and corporations that pairs lawyers with clients that will allow them to fulfill their pro-bono work obligations. Cuban was part of a $1.1 million investment round into Paladin earlier this year, and he said it fulfills his current view of what constitutes a successful business.

    "It's scalable. It's something every single law firm needs. It has a social impact so that people feel good about buying it," he said. Sonday told Carlson that when a company uses Paladin, it can be used as a recruitment tool for today's law school graduates, who are part of the generation that came of age during the Great Recession and appreciates companies that are looking to do more than maximize shareholder value in the short term, at the expense of everyone else.

    Read more:A BCG exec says the same CEOs who used to resist sustainability are changing their tune after seeing the numbers

    Cuban agreed. "And so knowing that a company uses Paladin and is able to define exactly what they're doing in pro bono work and what their goals are makes them a destination."

    He told Carlson that he's seen how companies that have appeared on the show "Shark Tank," where he and other business celebrities invest in startups, have been performing better when their purpose includes a holistic view of how they treat their communities and employees.

    And he saw it with the NBA team he owns, the Dallas Mavericks. In February, Sports Illustrated published a report that included accusations the organization fostered a misogynistic culture, including allegations of sexual harassment from a former team president and of both harassment and assault from a staff writer for its website. Cuban publicly apologized and fired both the writer and the head of human resources, vowing to shake up the organization.

    "I was blind to some things that happened with the Mavs, and we made some mistakes, and I had to learn from them," Cuban said onstage. "And I had to work quickly to correct them, and we'll be a better organization as a result. Sometimes it doesn't come easy, and sometimes it hits you across the head and it's painful, but I think every CEO has to take that responsibility because that's the way capitalism is going."

    Conrad said the companies that recognize this from the start — which she hopes will include her own — will be the ones that have the potential to scale. "Everything's kind of moving in the direction of coupling business with positive impact in the world, and I think a lot of the big companies that are yet to be built are ones that really tackle these big markets that have been historically ignored," she said.

    Cuban's interview begins below around 3:01:33.

    SEE ALSO: Iconic hedge fund billionaire Seth Klarman explains why traditional business models are broken and outlines how companies can fix them

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    donald trump

    • US companies are paying more than ever before in tariff duties: $6.2 billion in October.
    • The October tariff collections represented a 104% jump from October 2017.
    • The sudden spike came due to President Donald Trump's tariffs on steel, aluminum, and Chinese goods.
    • US companies paid $2.2 billion more to import goods subject to Trump's tariffs in October.
    • The costs are causing major disruptions for American firms, including investment delays and layoffs.

    The cost of President Donald Trump's trade war is starting to pile up.

    Trump has cheered billions "pouring into the coffers of the USA," but new data shows companies' costs starting to reach new records:

    • In October, US companies paid $6.2 billion in tariffs, up from $4.4 billion in September and just $3.1 billion in October 2017.
    • That's a 104% year-over-year increase, despite just a 13% jump in the value of imports, according to data compiled by Tariffs Hurt the Heartland, a pro-free trade group, and research firm The Trade Partnership.

    The total payments in October is the largest monthly tariff collection amount in history, according to the groups.

    Read more:Trump is losing the trade war with China based on his favorite report card, and it's probably going to keep getting worse»

    Tariff rates have been higher in the past, especially when duties were the primary source of government funds before the income tax was created in 1913. But inflation means the nominal value of the tariff collections today is much higher.

    total tariffs paid by us companies chart

    Trump's tariffs on steel, aluminum, and nearly $250 billion worth of Chinese goods are clearly having an effect, the data showed:

    • Tariff collections on steel hit $446 million in October, and aluminum tariffs collected $134 million, according to Tariffs Hurt the Heartland.
    • Since the steel and aluminum tariffs kicked off in May, US firms have paid $3.1 billion to import the metals.

    October also marked the first month that Trump's 10% tariff on roughly $200 billion worth of Chinese goods went into effect, adding onto 25% tariffs on $50 billion worth of Chinese goods that were imposed back in July. The new round caused a marked jump in tariff collections on those goods.

    • Prior to the tariffs being imposed, companies paid $0.4 billion a month to import the same goods, which jumped to $2.6 billion in October.
    • That means Trump's tariffs cost US firms $2.2 billion in additional costs in October alone and $4 billion more since China tariffs were first imposed in July.
    • In sum, US companies paid $7.4 billion more in tariffs due to Trump's trade war since the first tariffs went into place in May, and the amount is steadily increasing.

    tariffs paid on goods hit by trump's trade war chart

    For his part, Trump has cheered the amount of money coming into the Treasury, tweeting about the collections as part of a trade tirade on Tuesday.

    "We are right now taking in $billions in Tariffs. MAKE AMERICA RICH AGAIN," he said.

    Read more:We just got a new sign that the pain from Trump's trade war is getting worse, and it's spreading to even more businesses like restaurants»

    But despite the president's proclamations, most economists warn that these costs are mostly being borne by American companies. In turn, a growing number of firms are reporting a delay in investments, slower pace of hiring, and even cost cuts like layoffs. If cost increases continue, US companies have warned, consumer prices could also start to rise.

    If that were to happen or if Trump were to go through with threats to place tariffs on imported cars or more Chinese goods, the costs could eventually become a drag on US GDP growth. 

    SEE ALSO: Trump's 'Tariff Man' tweet was an homage one of his favorite presidents who ran on a platform of tariffs

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    zyllion

    • I have pretty awful tension built up in my shoulders, but I can't justify the cost of regular professional massages (which cost upwards of $300 for 80 minutes in New York City).  
    • About two years ago, I got this shiatsu massager on Amazon for $49.95, and it's been a complete godsend.
    • Its heated nodes rotate and knead my sore muscles, helping to melt away tension at the end of the day.  

    As a combined result of living and commuting in New York City and also suffering from TMD, I deal with a pretty severe amount of physical tension in my shoulders, jaws, and neck. I get migraines and tension headaches all the time, which probably isn't helped by the fact that I always forget to drink water.

    The only thing I've found that gives my back and shoulders immediate relief from the tension is this $50 shiatsu massager I got on Amazon years ago. 

    This massager features four rotating, heated nodes that knead away the stress of the day and get deep into the knots in my shoulders and back. The nodes switch directions every few minutes just like they would in a massage chair, which prevents bruising and helps to melt away muscular tension from different angles. The heated element, which can be turned on or off, helps to warm the muscles up and keep them limber through the massage.

    It's the closest thing I've experienced to a professional massage at home, minus the $250 price tag, plus the convenience of being able to watch TV while using it. 

    26863137_272626623268368_3245386797638746112_n

    The base has two elastic straps that Velcro together in the middle so you can secure it around a chair or head-rest, though I find that it's better to just keep the straps hanging from the side so you can use them to adjust the positioning of the massager when it's in use. Any purchase of the massager comes with a car adapter that allows you to plug it into a cigarette lighter, but I personally don't advise using this in the car — it's not particularly comfortable when placed right behind your head, and the strength of the nodes will force your head to move around in a way that may be unsafe while driving.

    It's important to note that one cycle lasts 20 minutes, and 20 minutes really is all you should do at one time.

    Because my knots are so deep and intense, I used to just keep the massager going for two or three cycles, hoping that I could release the tension completely all in one sitting. But I would always end up with bruises, leaving me in even more discomfort for the days (and sometimes entire weeks) following. I have since learned my lesson, and even though I'm always tempted to let it go for a second cycle, I only use it for 20 minutes a day. 

    Zyllion_Web_Banner_ZMA 26_1560x650_498516fe d92d 4232 a1ba 19934dfb3408_1600x800.progressive

    You don't have to have severe tension to enjoy using this massager. Regardless of how chronic your discomfort is, you might find that this is the perfect way to just release some stress at the end of the day. 

    Zyllion Shiatsu Pillow Massager, available on Amazon, $49.95

    SEE ALSO: This posture corrector from 'Shark Tank' might seem gimmicky — but it actually eliminated my back pain at work

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    Rex Ryan

    • Rex Ryan casually mentioned during an ESPN segment that he will likely leave the network and return to coaching in 2019.
    • The comment came as Ryan was criticizing Bill Belichick over the New England Patriots' loss on Sunday.
    • Ryan added that he didn't care if his criticism made people in the NFL mad at him, suggesting he would take a job in the NFL and not college.
    • Ryan had left open the possibility of coaching again but has said that he needed time off to recharge his batteries. 

    The NFL may have one of its more colorful personalities back on the sidelines in 2019.

    During a segment on ESPN's "Get Up!," Rex Ryan casually mentioned that he will "probably" leave ESPN and return to coaching in 2019. The comment came as he criticized New England Patriots head coach Bill Belichick with Ryan saying he didn't care if the criticism "makes everybody mad" at him.

    "Guess what," Ryan said. "You know what? I will probably get back into football next year, and I don't care if I make everybody mad at me or whatever. I could care less."

    The final comment suggests Ryan is planning to return to the NFL and would not be taking a job at the college level.

    Ryan was criticizing Belichick for the decision to use Rob Gronkowski on the final play of the Patriots' loss to the Miami Dolphins on Sunday.

    Read more:Dolphins pull off stunning upset over Patriots with last-second hook-and-ladder play

    Here is the video of Ryan's comments, via ESPN's "Get Up!":


    Ryan coached the New York Jets for six years, leading them to the AFC Championship game in each of his first two seasons. He then coached the Buffalo Bills for two seasons and was fired before the final game of the 2016 season.

    Ryan has spent the last two years as an analyst at ESPN.

    During the 2017 season, Ryan left open the possibility of coaching again but said he realized at ESPN that he needed some time away from the sidelines.

    "This might be the best thing that could have happened to me,"Ryan told NFL.com. "I didn't realize it at the time, but I needed a year off. Everyone talks about recharging your batteries. But you have no idea until you actually do it."

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    NOW WATCH: The legendary economist who predicted the housing crisis says the US will win the trade war


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    Kim K

    • On Sunday's "Keeping Up With the Kardashians," Kim Kardashian met with President Donald Trump. 
    • She also found out about Kanye West's controversial comments on "TMZ Live."
    • Khloe adjusted to being a working mom. 

    Sunday night's season finale of "Keeping Up With the Kardashians" was a big episode for the whole family. Between Kim Kardashian's meeting with the president to help free Alice Johnson, Khloe going back to work after True's birth, and Kanye West's outburst on TMZ, the season went out with a bang.

    Here's what you might have missed on "KUWTK":

    Khloe shared her anxiety about being a working mom

    Khloe

    It was time for Khloe to go back to work since big things were happening with her fashion line, Good American, but that meant leaving True for the first time since she was born, which Khloe said made her very anxious.

    But what cheered her up? Pierre, the mime who Khloe hired to surprise Kris last season, showed up at her hotel and they spent the night together out on the town, which Khloe said was "hilarious."

    True on FaceTime

    Viewers saw the aftermath of Kanye's TMZ appearance 

    Back in May, Kanye West stirred up controversy in the TMZ newsroom when he said that slavery was a "choice," and now, "KUWTK" is giving fans a look at what was going on behind the scenes. It turns out that when Kanye was filming his TMZ Live segment, Kim was filming her talking head for KUWTK and footage showed him calling her to let her know he was going on.

    Kim on the phone

    Kim also asked Kris to skip her scheduled appearance at "The Ellen DeGeneres Show" because they didn't want her to talk about Kanye.

    "It's really my job to be there to support Kanye and be somebody in his life that offers love and support and not criticism," Kris said.

    Later, Kim said that when she saw the clip, she started crying and rushed home, but Kanye said he felt "powerful" and was totally fine.

    "He loves being ramped up," she said. "He’s like, ‘I feel powerful when I’m ramped up, like, I don’t want to be, like, so suppressed. Like, yeah, I say crazy s---, but I’ve always said crazy s---. But that’s why I’m Kanye.'"

    She joined him at the listening party for his new album in Wyoming, although she emphasized that Kanye "likes to speak for himself."

    Kim

    "I always know what Kanye's intentions are and what he's trying to say, but I also know that they're gonna write a headline and people are going to assume that that's exactly what you meant," Kim said. "That, as a wife, is just really frustrating to see, the media take everything and run with it."

    But Kim said that at then end of the day, they don't always have to agree, but she'll always support him and wants to help him communicate better. 

    "I obviously support him, and will always, but he likes to speak for himself and I like to speak for myself. You know, as his wife, I just have to express how I feel and have those private conversations with him and just help him better communicate what he really means to say," she said. 

    Kim shared her journey to help Alice Johnson

    Kim is on a mission to help Alice Marie Johnson, a woman who spent more than 20 years in prison on a life sentence on nonviolent drug charges. Unfortunately, the only person who could grant her clemency was President Donald Trump, which meant that Kim needed to ask for his help — and Ivanka Trump and Jared Kushner were able to set up a meeting.

    "It's just tricky because they've asked me to go and talk to Trump about why Alice should get out, and I've been so straight with Jared that I have different views," Kim told Kourtney. "I was at Hillary fundraisers. So this might not be a popular opinion but I'll talk to whoever I have to talk to to get the job done."

    Kim K

    But then, Trump canceled the meeting on her, because the White House wanted a thousand letters in support of Alice, which was frustrating for Kim. But while she was getting ready for the Met Gala, Jared called her to set up another meeting.

    During the meeting, Kim wore Jackie Kennedy's watch and Trump apparently talked about how much he loved Kanye, as well as Khloe's appearance on "Celebrity Apprentice." 

    After the meeting, Kim left feeling positive, and while she was at a photo shoot, she got the good news that Alice had been granted clemency — and she held back tears on the phone with her while she delivered that news to Alice herself. A few days later, she even got to meet Alice and her family in person.

    "I am so grateful that we are giving someone their life back and giving them a second chance and I'm just so happy for Alice," she said.

    Visit INSIDER's homepage for more.

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    iphone battery

    • Apple hasn't released battery cases yet for this year's iPhones, including the iPhone XS and iPhone XR.
    • But Apple may be preparing three new battery case models for this year's iPhones, according to a report from 9to5Mac.

    Great news if you've been waiting for an Apple-designed battery case for your new iPhone XS or iPhone XR: It looks as if Apple has prepared new battery cases for late-model iPhones, according to bits of information and images discovered in a new software update by 9to5Mac. 

    Currently, Apple sells battery cases for the iPhone 6 and iPhone 7 models. They cost $99 and their main advantage over third-party cases is that you can charge them with Apple's proprietary Lightning cable.

    But for the past two years, Apple hasn't released new battery cases for the iPhone 8, iPhone X, iPhone XR, or iPhone XS Max. Those devices have improved battery life, generally, but there are still a lot of people who would rather be safe than sorry and use an official Apple battery case. 

    According to 9to5Mac, there are three new models of the battery case, and based on the images the notorious Apple blog discovered, the redesigned cases should have a larger battery than previous models. The report speculates that the three models would correspond to a 5.8-inch device, the iPhone XS, a 6.1-inch phone, the iPhone XR, and a 6.5-inch device, the iPhone XS Max. 

    Apple hasn't said anything publicly about these cases, but 9to5Mac says that it looks like they could launch before the end of the year. The original Smart Battery Case was released in December 2015. 

    SEE ALSO: Elon Musk: 'I want to be clear — I do not respect the SEC'

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    California Camp Fire Paradise Dog

    • A dog waited for weeks at the burned remains of his home for his owner to return after the devastating Camp Fire.
    • Andrea Gaylord was forced to flee the town of Paradise in the fire, but asked an animal rescuer to check on her dog, Madison.
    • The fire was the most deadly in the state's history, leaving at least 85 people dead.
    • Gaylord and Madison reunited on Friday when she was allowed to check on her property, and she brought him his favorite treat.

    A dog that survived the catastrophic Camp Fire in Northern California waited for weeks at the burned ruins of his family home until his owner returned.

    Madison, a male Anatolian shepherd mix, waited at his family home for almost a month after his owner, Andrea Gaylord, was forced to flee the wildfire.

    He was still there when she was allowed to come back and check on her burned property in the town of Paradise last week, the Associated Press (AP) reported. When exactly Gaylord evacuated her property is not clear.

    Camp Fire dog paradise

    Paradise was burned to the ground in the catastrophic fire in November, forcing tens of thousands of people to leave their homes. Camp Fire became the deadliest in the state's history, with at least 85 people declared dead.

    Read More:Wildfire evacuees are returning to the destroyed California town that's ‘like moving back into a funeral home.’ See the wreckage in a 360-degree video.

    Gaylord fled when the fire broke out, but she asked an animal rescuer to check on Madison, according to the AP.

    Shayla Sullivan responded to the request and saw that he was waiting at the house. The dog appeared apprehensive and kept his distance.

    Sullivan left the dog food and water and helped to locate Madison's brother, Miguel, another Anatolian shepherd mix who was brought to a nearby shelter in the fire's aftermath.

    Gaylord returned to the property on Friday and she brought Madison his favorite treat: A box of Wheat Thins.

    dog camp fire california paradise

    Gaylord told news station ABC10 that she couldn't ask for a better animal.

    "Imagine the loyalty of hanging in in the worst of circumstances and being here waiting," she said.

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