John Arnold President Houston, Texas, United States 12 followers Join to view profile Centaurus Capital Experience President - President Centaurus Capital View John's full profile See who. In 2011 Centaurus Energy Master Fund LP was fined $75,000 by the New York Mercantile Exchange for violating position limits in natural gas trading (see Daily GPI, Dec. 28, 2011). Gerrymandering endangers democracy. Arnold funds Institute for Clinical and Economic Review (ICER), a nonprofit that created a formula to price drugs. 12 -- John Arnold, Centaurus Advisors. WIRED may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. Charles Butt, San Antonio $290 million. Centaurus, which started in 2002 with just a handful of traders and now has 70 employees, focuses on this virtual kind of trading. 123. Arnold and his wife, Laura Munoz, together run the John and Laura Arnold Foundation, a major private grantmaking foundation.In early 2019 he and his wife Laura started Arnold Ventures, a for-profit limited liability company (LLC) and grantmaking organization. . What makes this even more special is that John rarely gives interviews or does podcasts. Because investigating and replicating research begins with having the data and materials necessary to do so, he is particularly focused on making science more transparent. 19-2616 (3d Cir. But as many Wall Street veterans can testify, betting against John Arnold is usually a bad idea. [40][41], Arnold Ventures' 2020 grant to trial aerial surveillance hardware by the Baltimore Police Department was subject to legal challenges but in November 2020, a federal appeals court ruled that the program was constitutional and did not invade the rights and privacy of city residents. Inside the Secretive Life-Extension Clinic. The National Institutes of Health is moving forward with new requirements for data sharing; starting as early as this year, all NIH-funded training programs must include plans for teaching researchers the principles of reproducibility. Foerster and Marny Eng and musician John Oates on the way that music and imagery can combine to drive narrative, the dramatic heart at the core of the new independent comedy/drama 'Gringa' and the level of difficulty involved in post-pandemic independent film distribution. 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. Billionaire John Arnold backing energy-focused credit fund - sources Credit: Arnold Ventures. And though the fund bounced back the next year, tighter regulations on trading and a far less volatile marketthanks to a growing supply of natural gas from shale rockmade it unlikely that Arnold would again see the astonishing returns of only a few years earlier. [3][8] At 14, he started his first company selling collectible sports cards called Blue Chip Cards. 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. 1. . Former Enron Corp. energy trader John Arnold is closing down his flagship Centaurus Energy Master Hedge Fund. "[13][14] When Enron collapsed, he was not accused of any wrongdoing. She is a graduate of Harvard College, Yale Law School, and has a Master of Philosophy degree in European Studies from the University of Cambridge. John Ioannidis was put in touch with the Arnolds in 2013. The 13 Best Electric Bikes for Every Kind of Ride, The Best Barefoot Shoes for Walking or Running, Palantirs Plan to Decipher the Mysteries of Long Covid. Of course, this new LLC model comes with the cost of losing the Arnold Foundations tax exemption. $2.5 billion, according to our most recent tally. If Arnold decided he wanted to beat hunger, DAgostino says, I wouldnt want to bet on hunger., For all the swagger of that description, Arnold himself has virtually none. Date Recorded: 1/12/2022 | Run-Time: 1:12:33 The Therapy Part of Psychedelic Therapy Is a Mess. John, Nosek learned, had made his first millions as a wunderkind natural gas trader at Enron, the infamous energy company, and hed managed to walk away from Enrons 2001 collapse with a seven-figure bonus and no accusations of wrongdoing attached to his name. As Enron neared bankruptcy, executives scrambled to hold its operation together, offering bonuses to keep traders on board. His estimated net worth is $3.3 billion as of writing. Arnold says he wasnt sure if he could match the success hed enjoyed as a futures trader at Enron. He was an entrepreneurial kid, earning some $50,000 before leaving high school by marketing collectible sports cards in the internets early years. Laura Arnold, 43, and John Arnold, 42 Co-founders of the Laura and John Arnold Foundation The Houston couple with three children work full time to give away John's $2.8 billion fortune. But he should loom larger on the conservative radar considering that the two nonprofits associated with this billionaire couple poured out nearly $1 billion in grants between 2008 and 2018. 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. On Fishbowl, you can share insights and advice anonymously with Centaurus Advisors employees and get real answers from people on the inside. All Rights Reserved. John Arnold. Like Tom Steyer, George Soros, and a number of other mega-donors on the Left, John Arnold earned his vast wealth as a hedge fund investor. [26] In 2008, the Arnolds were original signatories of the Giving Pledge,[27] a pledge by some high-net-worth individuals to donate the majority of their income to philanthropic causes during their lifetimes. . There are no guaranteesand no refunds. While. Arnold was raised in Dallas, Texas, and he was the younger of two sons. A childhood math prodigy turned medical researcher, Ioannidis became a kind of godfather to the science reform crowd in 2005, when he published two devastating papersone of them titled simply Why Most Published Research Findings Are False. Now, with a $6 million initial grant from the Arnold Foundation, Ioannidis and his colleague Steven Goodman are setting out to turn the study of scientific practiceknown as meta-researchinto a full-fledged field in its own right, with a new research center at Stanford. This article appears in the February issue. Laura and John Arnold, Houston $285 million. Reflects change since 5 pm ET of prior trading day. Centaurus Capital | Bernard Opetit | Hedge Fund Notes So there is already widespread concern about reproducibility in the field. Centaurus alum reunite under Whalley to launch new fund A month after legendary natural gas trader Arnold abruptly announced that his Houston-based Centaurus would wind down its $2 billion master fund following a decade of unrivalled gains, Whalley. Aiming to defend the science behind the guidelines, McGovern suggested that the doubts that had been cast over Americas nutrition science were being driven by a former Enron executive. I dont know what Enron knows about dietary guidelines, McGovern said. Billionaire donors Laura and John Arnold support far more in Maryland [8] In 1996, a year after starting at Enron,[8] he moved to oversee the trading of natural gas derivatives at the Natural Gas Desk upon the departure of Jeff Bussan. Donald Trumps real net worth? NGI Archives Billionaires John and Laura Arnold make Forbes' America's Top Givers . Former Of 1,576 researchers who responded to a recent online survey from Nature, more than half agreed there is a significant crisis of reproducibility. The extent of that individuals ability to freely support causes may be magnified by using an LLC instead of a nonprofit, but it also further blurs the already faded line between philanthropy and politics. The tech giant is helping researchers and clinicians decipher vast amounts of data generated by people with persistent symptoms. 4. A hugely successful energy trader, Arnold once worked at Enron, earning the disgraced company a reported $750 million the year it went bankrupt. Fix terrible science. The Meb Faber Show: #386 - John Arnold - Apple Podcasts 1 Jon Rahm is a heavy favorite to win his fifth PGA Tour title in 2023 this week at the Mexico Open. John Arnold, the billionaire manager of the Houston hedge fund Centaurus Advisors, told investors and employees Tuesday that he plans to retire, according to people familiar with the . Arnold estimates that he made $50,000 before he finished high school. What do we actually know?. Whole He is unapologetic about having worked at Enron, and he can be defensive about the moral standing of Wall Street in the public mind. [30] The former foundation was sued over a pre-trial web tool by the family of a victim who was murdered, but the District Court and a U.S. Appellate Court dismissed the complaint. Weve always defined success as sustainable change through policy. We look forward to keeping you informed. In everything they do, they want to be evidence-driven, says Stuart Buck, vice president of research integrity at the Arnold Foundation. Now, much of the discussion has shifted . But thats not what this project was about. By the time he was 14, Arnold was running his first company, selling collectible sports cards across state lines. Centaurus Capital LP has committed around $500 million in equity for EOC Partners, according to the . A guy such . A Google search told him that the Arnolds were a young billionaire couple in Houston. [1] Just weeks before the federal guidelines were due for an update, Teicholzs blistering report appeared in the prominent medical journal The BMJ, charging that the governments panel of scientists had failed to consider evidence that would have done away with long-held worries about eating saturated fat. Usually the division of labor in most of our work is that I talk, Laura Arnold says in a phone interview. Together with Taubes work, Arnold was also reading Ioannidis and Goldacres equally devastating analyses. Form The philanthropy's core mission is to invest in evidence-based solutions that maximize opportunity and minimize injustice. [30] The new entity is known as Arnold Ventures LLC with the charter "to remove barriers between data and decisive action, working swiftly across the policy-change spectrum. Is there something special about frauds in the securities biz that they should be penalized infinitely more harshly than other business frauds? he went on. Arnolds work at Enronseeking to capitalize on seasonal price differences in natural gaswasnt all that different from what hed done as a teenager selling sports cards. John Arnold, then head of the hedge fund Centaurus Advisors, testifies before the Commodity Futures Trading Commission in Washington, August 5, 2009. Fortune magazine has called him one of the least-known billionaires in the country. Houston-based Centaurus has been one of the most successful hedge funds in the industry, delivering a compound annual return of about 130% since it was founded by Arnold in 2002 after the collapse of Enron. Science is built like a building, Arnold says. The biggest green hydrogen hub in the US could be | Canary Media Not surprisingly, researchers who dont see a crisis in science have started to fight back. "Looking back what I was doing was geographic arbitrage.". John Arnold - President - Centaurus Capital | LinkedIn | 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. [33] info@naturalgasintel.com 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. Guest: John Arnold is an American philanthropist and founder of Arnold Ventures. 2023 Forbes Media LLC. His ~$3 billion fund, Centaurus, was down 4% in 2010 YTD, according. The philanthropys core mission is to invest in evidence-based solutions that maximize opportunity and minimize injustice. On some days at Enron, Arnold would trade more than a billion dollars worth of gas contracts. Sign In, Listen to the latest episode of our newest podcast, 2023 North American Pipeline, LNG & Market Hubs Map, 1Q23 N.A. Rank: 590. We asked ourselves, What is the point of having two separate entities? The Arnolds are candid about this, telling the Chronicle of Philanthropy in a January 2020 interview that the goal is to change policies: We have never viewed our work and our philanthropy in terms of C3 versus C4. Arnold is 5'10", trim, and blandly handsome, his unusually youthful appearance now somewhat concealed by a salt-and-pepper beard. Laura and John Arnold have a net. The comedian John Oliver spent 20 prime-time minutes on HBO last May mocking the reign of terrible science on TV news shows and in public debate: After a certain point, all that ridiculous information can make you wonder: Is science bullshit? Flagship A new study shows . Will Arnold founded Centaurus with an $8 million employee bonus from Enron. A 2017 interview with Wired magazine characterized him this way: 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. Prior Energy Trading, Post-Enron - The New York Times Republished [37] He proposed that foundations and DAFs should spend at least 7% annually, which would result in billions of dollars more being given to charities,[30] and that DAFs should be legally held to an annual minimum distribution. But he tells me that listening to Taubes and reading his book, Good Calories, Bad Calories, had been an aha moment for him. His mother later would work as an accountant at Centaurus. Updated March 10, 2017 5:18 pm ET. Theres little evidence to prove how necessary or helpful many of the accepted norms in psychedelic-assisted therapy areand some could even harm patients.
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