Bruce Kovner, Caxton Associates . Arnold's hedge fund thrives as Amaranth falls - MarketWatch But compared with the benefit of near-total anonymity, wealthy elites like the Arnolds are forgoing the tax advantages of a foundation or traditional nonprofit to further withdraw from public scrutiny. The problem even had a name: the file drawer effect. Arnold Ventures' John Arnold: Now is the Time to Reform Charitable Giving Laws. Legendary Trader Sees 'Seismic Shift' in Houston's Oil Patch Former For one thing, the problems plaguing scientific research are now increasingly well known. People would read into it, and they would say hes just being cagey, DAgostino says. Michael Maggi is a former Enron trader who then spent time at Centaurus Capital, the hedge fund founded by noted Houston philanthropist John Arnold, before founding Goldfinch Capital. Working at Centaurus Advisors | Glassdoor An associate professor at the University of Virginia, Nosek had made a name for himself in a hot subfield of social psychology, studying peoples unconscious biases. 4 Houston tycoons join prestigious Texas Business Hall of Fame From the little I know about the science of nutrition, your study makes a lot of sense, Arnold wrote. By recreating an early state of matter called the quark-gluon plasma, scientists hope to understand the conditions that made the universe what it is today. John D. Arnold is the founder and the only shareholder of Centaurus Energy Advisors, a hedge fund specializing in trading of energy. Form 990s and Section 501(c) of the U.S. Tax Code were created in 1954, followed by rules governing private foundations in 1969. Inside the Secretive Life-Extension Clinic. Once the foundation has identified areas where they believe they can make the biggest difference, they go all in. Sam Apple (@samuelapple) teaches science writing at the University of Pennsylvania. [3] [8] His father was a lawyer and died when Arnold was 18. Arnold was given $8 million, the biggest payout of all, just days before Enron filed for bankruptcy. For now it's John Arnold. [1], A 1995 graduate of Vanderbilt University, he completed a degree in mathematics and economics in three years. But now, with their stepped-up ambitions, the couple entered a new realm. Allen Gibson Salary Infomation 2022 | ERI Economic Research Institute New Force on Wall Street: The 'Family Office' - WSJ Laura tells me she sees her husbands appetite for riskan appetite she says she sharesas the most obvious link between his approach to trading and philanthropy. In Wall Street circles Arnold, who is in his late 30s, has been known to some as the king of natural gas.. Arnold says that now, unless he trusts a researchers work, he no longer believes the findings of any scientific study until he or someone on the staff carefully vets the paper. Arnold is a board member of Breakthrough Energy Ventures. Top 12 Most Big-Hearted Billionaires - TheStreet She is co-founder of Arnold Ventures LLC. Arnold has said that the first phase of his life was 100 percent trying to make money and that its now 100 percent trying to do good. As The Wall Street Journal noted, in US history, there may have never been a self-made individual with so much money who devoted himself to philanthropy at such a young age.. For two and a half hours, a roomful of testy representatives asked why certain nutrition studies had been privileged over others. That focus led Rolling Stone to call Arnold a young right-wing kingmaker with clear designs on becoming the next generations Koch brothers. (In 2015, Bloomberg suggested that Arnold may have somehow managed to become less popular as a philanthropist than he was as a billionaire trader. At its peak Centaurus managed some $6 billion before Arnold closed the fund and retired in 2012 at the age of 38, establishing the Laura and John Arnold Foundation with his wifea former oil executivesoon after. John Arnold - Centaurus Advisors - Insider Monkey While. John Arnold shocked the hedge fund world in 2012 when, at just 38 years old, he announced he would no longer manage other people's money. [49], Arnold is married to Laura Elena (Muoz) Arnold. Quin es John Arnold, el filntropo que regala programas informticos The centers replication efforts, in turn, have inspired economists and even tropical ecologists to plan reproducibility projects of their own. Stockpickr: The Top 10 Hedge Fund Managers - TheStreet Arnold Ventures is a group of more than 100 passionate people from all walks of life who feel a deep urgency to help people in need. However, after 17 years as an energy trader, I feel that its time to pursue other interests, Arnold wrote to investors in a letter obtained by NGI. Yet the foundation is also focused on reforming what the Arnolds see as a broken public pension systema project that, in practice, usually means cutting payments to retirees, raising retirement ages, and switching new workers to 401(k)-style plans. He was an entrepreneurial kid, earning some $50,000 before leaving high school by marketing collectible sports cards in the internets early years. But figuring out which organizations were most effective turned out to be vexing. (Arnold was not involved in the fraud.) In the name of social experimentation, in 2020 Arnold supported Oregon's referendum decriminalizing all drugs, which passed. Had something similar happened on Wall Street, he tweeted, the perpetrator would have been sentenced to 10 years in jail and the bank would have been fined a billion dollars. We talk about the . John Arnold on Oil and Gas Startups - Digital Wildcatters Previously, Mr. Arnold founded and was CEO of Centaurus Energy, a multi-billion dollar energy commodity hedge fund. Centaurus Capital LP has committed around $500 million in equity for EOC Partners, according to the . John Arnold Centaraus | Elite Trader In episode 386, we welcome our guest, John Arnold, arguably the best natural gas trader of all-time and now one of the largest philanthropists in the US, giving away almost half a billion dollars a year. More generally, it may not be possible to truly reform a system where the incentives are already so deeply embedded. Media reports declared the field of psychology, if not all of science, to be in a state of crisis. Republished Centaurus Advisors. Date Recorded: 1/12/2022 | Run-Time: 1:12:33 Gerrymandering endangers democracy. His mother later would work as an accountant at Centaurus. Its probably too big a lift for us to expect were going to change researchers who have been around for decades, he says. The Arnolds have a multiple-decade timeline to work on problems. Yet the most remarkable thing about the Arnold Foundations research integrity projects is that they already appear to be paying off. As Enron neared bankruptcy, executives scrambled to hold its operation together, offering bonuses to keep traders on board. [39], Arnold Ventures LLC has invited criticism with its involvement in many controversial areas. This 37-Year Old Billionaire Ended up Among the Worst Hedge Fund It Depends On Who You Talk To", "How we Ranked Forbes 400 based on their giving", "Dog The Bounty Hunter Joins Lawsuit Against Chris Christie Over Bail Reform", "June Rodgers v. Christopher Christie, No. Centaurus Advisors, which posted eye-popping returns and led him to become the youngest billionaire in the US in 2007. Nosek says that the cash offers were Arnolds idea. Having spent more than a decade picking apart nutrition science, Taubes soon found himself cofounding an organization with a substantial grant from the Arnold Foundation, to rebuild the study of obesity from the ground up. They have personally donated to numerous Democratic campaigns, the Democratic Partys leading congressional political action committee (House Majority PAC), and both of Barack Obamas presidential campaigns. Centaurus Advisors Awards & Accolades. If they wanted to embark on truly transformational change, as their foundation literature states, it wouldnt be enough to properly evaluate this or that education or criminal justice program. But he tells me that listening to Taubes and reading his book, Good Calories, Bad Calories, had been an aha moment for him. "[13][14] When Enron collapsed, he was not accused of any wrongdoing. [44][45], Arnold has been accused of pushing for pension reform in response to a lawsuit the California state pension system, CalPERS, filed against Enron. You dont shift a culture overnight, Nosek says. She joins other singers on an Olivia Newton John duets album out this week. Flagship John Arnold is Founder and Co-Chair of Arnold Ventures. Whole [43], John received an $8 million dollar bonus from Enron just before the company filed for bankruptcy. Arnold, head of $3 billion Houston-based Centaurus Energy, has generated gains approaching 200% so far this year, according to a person familiar with the former Enron trader and his fund. [42], Arnolds foundation, Arnold Ventures, created a Public Safety Assessment which gave recently arrested individuals a score to determine their flight risk and potential bail. Now, with multiple grants from the Arnolds, he is leading an effort to build an open, searchable database that will link all publicly available information on every clinical trial in the world. Arnold is 5'10", trim, and blandly handsome, his unusually youthful appearance now somewhat concealed by a salt-and-pepper beard. The more you read the research, the less you know, Arnold says. Insofar as the LLC form allows donors to treat the categories as just so many rooms for a tiresome accounting game of hide-and-seekthe view that Arnold seems to take herewe may come to regret the growing popularity of that form among those with the largest appetites for change. Part Theyve also lavishly supported the Reproducibility Project, a science reform group formed to combat the rise of politicized, ideologically driven junk science afflicting so much research, particularly in climate science. Early the next morning, Mr. Arnold offered a bid after making the following observations: "I . That's what the Arnold Foundation did last week, when it announced that it would be combining its philanthropy and political giving under Arnold Ventures. The Arnolds identify as Democrats and were major financial supporters of President Barack Obama. InfluenceWatch Podcast #267: Weingarten Will Not Be Apologizing. Now He's Declared War on Bad Science. The Search for Long Covid Treatments Takes a Promising Turn. John Arnold, Hedge Fund Manager And Former Enron Trader - HuffPost (After an external and internal review, The BMJ published a correction but chose not to retract the investigation. Laura and John Arnold: "Dark Money" Entrepreneurs Now hed have to rely purely on his prowess with data. Joseph (Rusty) Walter III and Paula Walter . . Laura and John Arnold didnt start the movement to reform science, but they have done more than anyone else to amplify its capabilitiestypically by approaching researchers out of the blue and asking whether they might be able to do more with more money. The Arnolds had already decided that, with decades of life ahead of them and almost unlimited resources, they had the time and money to evaluate charitable programs properly, even when that meant paying for expensive randomized controlled trials that could take years to complete. On the top of that list was the energy trading legend that is John Arnold. Gas Trading Legend John Arnold Closing Centaurus Fund In finance, meanwhile, at least when one is trading with ones own money, there are strong incentives to work to that stronger standard. John D. Arnold - InfluenceWatch - InfluenceWatch Like a number of up-and-coming researchers in his generation, Nosek was troubled by mounting evidence that science itselfthrough its systems of publication, funding, and advancementhad become biased toward generating a certain kind of finding: novel, attention grabbing, but ultimately unreliable. Resource #6: John D. Arnold runs Centaurus Energy Advisors, LLC, a Houston, Texas based hedge fund that specializes in trading energy products. Far from simple charity, thats a recipe for plutocracy. Ad Choices, John Arnold Made a Fortune at Enron. All these things that we thought we knewwhen we step back and look at the evidence baseits just not there., Rolling Stone called Arnold a young right-wing kingmaker with clear designs on becoming the next generations Koch brothers..
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