Jean-Michel Basquiat’s Untitled auctioned for $110.5M

Particular Arts Drawing, Painting, Printmaking, Photography  Jean-Michel Basquiat’s 1982 work Untitled sold for a record-breaking $110.5 million at auction, the highest sum ever paid for a U.S.-produced artwork. in general: at auction: List of Most Expensive Paintings > Valuation | jewel-like: Klimt Néret | impressionism: Monet or The Triumph of Impressionism Wildenstein | van gogh: Complete Works Metzger | building mural: BIG | digital pencil: 53 | in 3D: CreoPop | organic ink: Living Ink | diagrams and patterns: venn, zentangle | learning: I Draw, sketch-based learning about | buy what you love | chalk: Peter Han | coloring: Secret Gardens Basford | crowd-sourced: sketchbookproject | digital: adonit, Adobe Ink & Slide  | doodling: Buddha Board, doodle, doodlersanonymous | Excel spreadsheet: Tatsuo Horiuchi | masters: Rembrandt | landscapes: Heart of the Andes Church | portraiture: John Singer Sargent | hand-painted oils: dutchtouchart | murals: Detroit Industry Murals Rivera, Pow Wow Hawaii | vermeer | Printmaking: Katsushika Hokusai | human form: body painting | collage: Romare Bearden | thedumpsterproject | dioramas: Anastassia Elias

Jean-Michel Basquiat’s 1982 work Untitled sold for a record-breaking $110.5 million at auction, the highest sum ever paid for a U.S.-produced artwork.

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Evaluation of a potential investment in a hedge fund

by scott pickard

I would ask to see a 1-paragraph synopsis on ALL of their equity positions, not just five. If the stocks they are selecting intuitively make sense to you, then that’s a good sign. Of the five equity positions they profiled, I liked their explanations and logic behind their positions. It was easy to understand and made sense to me.

Arbitrage trading is simply mathematical gaming and making money for money’s sake. It has nothing to do with investing in the value of a company’s technology and products. If they’re only doing a small percentage of trades using an arbitrage strategy, it may not be a big issue.

Can they show a graph of the growth of the total $size of fund?

Have they been successful in building their base of investors? What is the current number of investors? Have any investors dropped out? Why?

I would ask for a few callable references so that you could get a current investor perspective on SC’s performance and the investors’ perspective on the quality of reporting and customer service. I would also ask to see a sample quarterly report.

The 2% management fee + 20% performance fee is standard. You need to make sure that the performance fee only applies to the net profits, i.e., profits after losses in previous years have been recovered.

It is also reasonable to require that the performance fees include a “hurdle,” so that a fee is only paid on the fund’s performance in excess of a benchmark rate or a fixed percentage. That is to say, the manager is only rewarded if the fund generates returns in excess of the returns you would’ve received if you had invested your money elsewhere.

What protections does SC provide in the event of fraud or breach of any of the provisions of the Subscription Agreement? I see none. There should be a reciprocal indemnification by SC to the one you would be expected to sign to in section D of the Subscription Agreement.

The Memorandum indicates that you can liquidate and withdraw your account with a 90-day notice, but the Subscription Agreement does not mention this.

In section E, “Power of Attorney,” the LLC should be required to notify investor of any substantive changes made to the LLC on investor’s behalf.

IN SUMMARY:

  • I would not make any kind of decision on this investment until you receive good answers to these due diligence questions and issues.
  • The documentation is very sloppy, and that is concerning. I wouldn’t sign the Subscription Agreement until some of these errors are corrected.
  • If there is one SC, there are hundreds if not thousands to choose from. By comparison to the pool of equivalent investment funds you could choose from, they are very inexperienced. And with inexperience comes higher risk.
Personal Time Investing Buy the rumor, sell the news. But, are you listening to the music or the noise? in general: alternative investments: secondmarket | consumer investing behavior: dcisions | earnings whispers: www.whispernumber.com | books: The Only Three Questions That Count Fisher | gamify: kapitall | idea investing: motifinvesting | impact investing: Global Impact Investing Network GIIN | IPOs: www.hoovers.com/global/ipoc/index.xhtml, http://biz.yahoo.com/reports/ipo.html | Morningstar: www.morningstar.com | Motley Fool: www.fool.com | MSN Investor: http://moneycentral.msn.com | regulation: FINRA | short selling: dangerous | Silicon Investor: www.siliconinvestor.com | startups: DataFox | The Street: www.thestreet.com brokers: E*Trade: https://us.etrade.com | Fidelity: https://www.fidelity.com | kapitall | Schwab: https://www.schwab.com | TD Ameritrade: www.tdameritrade.com | thinkorswim

Historically only 18% of fund managers beat the S&P500 index on a consistent basis.

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Co-Working Space

by scott pickard

A co-working space in a library might look something like this:

coworkspace

The co-working program can offer the following:

  •  shared-office space:
    • parking
    • desk, chair, power
    • wireless broadband
    • cafe
    • library card and books, lots of books
    • conference rooms
    • bathrooms
    • comfortable easy chairs for reading and napping
  • a place to connect with other motivated:
    • entrepreneurs
    • small business owners
    • hackers
    • social-impact organizations
  • help with:
    • business support
    • fund-raising
    • looking for mentors
  • simply a collaborative space to brainstorm, design, create

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Imagine H2O

Imagine H2O is a nonprofit organization with a mission to inspire and empower people to solve water problems.

Hydrosphere Water We pay for water when we use it, and we pay for water when we get rid of it. GLOBAL: How are humans changing the global water cycle, the associated biochemical cycles, and the ecosystem function of the global water system?  What are the socio-economic and environmental feedbacks arising from these changes? Will a lack of water threaten energy production?  How can everyone have sufficient clean water without conflict?  INDUSTRY: Is the water quality of the plant internally and externally in compliance with relevant environmental laws?  What percentage of the company's revenues does it spend to maintain water quality to mandated levels? Is it reasonable or getting out of control? in general: | about | catastrophes: West Virginia | conservation: Americans have no idea how much water they’re using Yoshida | images | point-of-use (POU) purification: www.halosource.com, hydronovation | serionix, SODIS solar disinfection | modeling: aquaveo, WaterML 2.0 | organizations: water.org |  rain  barrels | recycling: stillsuit | research: Global Water System Project | scarcity: When the well runs dry, we shall know the value of water. Franklin, The End of Abundance Zetland | smart sprinkler systems: www.cyber-rain.com | sponsored projects: bluewater.rbc, charitywater | underground lakes: Kenya | ventre capital: Imagine H2O > Venture Capital | water cycle: video, diagram | water from air: islandsky big ideas | waterless textile dyes: airdye | water rights: California Water Wars  top educational literacy: α (1 / diarrhea) α (clean drinking water) α (solar rays + water) water quality: arid environments: sand dams | rooftop tanks: Inside City’s Water Tanks, Layers of Neglect Rivera | filter mechansisms: drinksoma, puremadi, WaterBean |bottleless water coolers: quenchonline | denitrification: eosenvironmental | desalination: www.altelainc.com onsite, voltea | on-site potable water purification: www.clearwatercomplianceservices.com, www.miox.com | pool-in-a-river: pluspool |  USEPA Sole Source: Mahomet Aquifer | wastewater filtration: mmfwater books: The Big Thirst Fishman | The Great Lakes Water Wars | Water Wars: Privatization, Pollution, and Profit Shiva Venture Capital | Sustainability

Imagine H2O is a nonprofit organization with a mission to inspire & empower people to solve water problems. Our vision is to turn water challenges into opportunities.

On spinning out (commercializing) a university research center

by scott pickard

Sitting there in the meeting this morning and my mind wandering a bit (been doing that since first grade), I thought: “When/if the research grant goes away, what happens?”

Does  the Research Center just go poof, everybody blowing away in the breeze to a new position, some repotted at the University in various departments; some going out to private industry; some retiring?

Then I thought about everything that is inside these walls. If you draw a box around this place and call it “Proprietary Intellectual Property (PIP),” it’s market value as a going concern is substantial when you include:

  • Documents in general
  • Templates
  • Spreadsheets
  • Software
  • Calculators, algorithms, rules-of-thumb
  • Archive of reports
  • Processes and procedures
  • Everything that’s on the web site: content, pictures, videos
  • Curriculum, courseware, workshop and presentation materials
  • Marketing and general collateral materials
  • Database(s) and data
  • Product info, specs, costs
  • The Center’s collective rolodex of professional, industry, governmental contacts
  • The Center’s brand identity and goodwill
  • The Center team and their collective expertise and experience
  • Continuing access to the best students

In a shutdown scenario, who “owns” the PIP?  The University?  The Funding Sponsor?  Would either even be interested?

Engineering and R&D Research and Development What’s likely to be the “next big thing?” What might be the most fertile areas for innovation? Where should countries and companies invest their limited research funds? What technology areas are a company’s competitors pursuing? How are projects chosen for R&D?  What is R&D’s past record for successful completion of projects to budget and schedule?  When does management expect products will reach the market from research projects currently underway?  Is the company working smart to optimize the FDA approval process?  How would management rate the company’s R&D operations against its competitors?  How well does R&D integrate its work with marketing?  End user?  Engineering?  Production?  Is R&D’s major emphasis applied or basic research?  How much do the company’s projected financials depend upon successful new products developed by R&D?  Does the company effectively protect the secrecy of R&D projects?  Is there sufficient federal financing to support R&D at adequate levels?  What is the company’s approach towards capitalization of R&D expenses?  Is management well informed of R&D activities?  Are the company’s research facilities adequate?  How confident is management that R&D’s team and plan will lead to the right product(s) at the right time?  Has management evaluated the cost-effectiveness of shifting some portion of R&D expenditures and operations to external sources? (a) venture capital funds; (b) R&D alliances; (c) government funding such as ATP in general: Chance favors the prepared mind. Pasteur | citations: zotero | crowd funding: experiment | design of experiments: about | electronic lab notebooks: www.intellichem.com | ethics: Integrity in Research and Publication | europe: cordis | www.evaluatingresearchcenters.com | incentivization: prize challenges | magazines: rdmag | matching problems with solutions: www.innocentive.com | molecular imaging: www.visenmedical.com | networks: internet2 | patents: mapping | pharmaceutical R&D: www.teranode.com, wingu | poster template | rent & read: deepdyve | research universities: www.aau.edu | videos: labtv academic: The traditional metric of academic capital is citations. | Should researchers make their source code available when submitting a research paper to a peer-reviewed scientific journal? | bio template: publications.ca | data sharing: figshare | funding opportunity announcements: grantforward | impact: h-index | news: futurity | scientific literature: Action Science Explorer | Association of Research Libraries | open access, peer-reviewed joournals: peerj, plusone.org  | social networking: academia.edu | Search: academic.research.microsoft federal labs: Argonne National Laboratory: www.anl.gov | Idaho National Laboratory: www.inl.gov | Kansas City Plant: www.kcp.com | Lawrence Berkeley National Laboratory: www.lbl.gov | Lawrence Livermore National Laboratory: www.llnl.gov | Los Alamos National Laboratory: www.lanl.gov | National Renewable Energy Laboratory: www.nrel.gov | Oak Ridge National Laboratory: www.ornl.gov | Pacific Northwest National Laboratory: www.pnl.gov | Sandia National Laboratory: www.sandia.gov | Y-12 National Security Complex Heilmeier Catechism: What are you trying to do? Articulate your objectives using absolutely no jargon.  How is it done today, and what are the limits of current practice?  What's new in your approach and why do you think it will be successful?  Who cares?  If you're successful, what difference will it make?  What are the risks and the payoffs?  How much will it cost?  How long will it take?  What are the midterm and final "exams" to check for success? | The Heilmeier Catechism Visits the University sp lab management: workflow management: accelrys | software: quartzy free multidisciplinary research: What are the top ten actions that Congress, the federal government, state governments, research universities and others could take to assure the ability of the American research university to maintain the excellence in research and doctoral education needed to help the United States compete, prosper, and achieve national goals for health, energy, the environment, and security in the global community of the 21st century? Stanford | synthesis centers: science incubators | World Café charrette translation of project results: To what extent do the research issues being pursued relate to challenges along the pathway towards achieving meaningful use?  How effective are the methods used to accelerate translation of research into application(s)?  To what extent has the project identified the salient, potentially breakthrough challenges?  Are innovative research methods being applied to meet the ultimate research agenda?  What problems have been encountered in implementing all of the required features of the project?  What relationships has the project established with industry to facilitate the translation of the research? | funding: action science: definitions | proof-of-concept books and articles: Breakthrough Stefik | Closing the Innovation Gap Estrin | Evaluating Research Centers & Institutes for Success! Tash | Scientists Popularizing Science: Characteristics/Impact of TED Presenters Sugimoto Sustainability | Wellness | Automobile | Innovation | Crowd | Science |The big idea I’m left with is you could develop a business plan for the inevitable and at that time, license out the entire PIP by mutual agreement with the University and/or the Sponsor, and reboot the Center as a commercial enterprise. If you chose to do it big, you could attract some equity capital to fund startup costs for space, equipment, and competitive industry salaries, benefits, etc.

And that begins a whole new story.

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