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 NEW YORK (CNNMoney) Jack Ma, the newly-minted richest man in China, was happy making just $20 a month. The founder of China's online retail giant Alibaba (BABA, Tech30) spoke at a panel discussion at the Clinton Global Initiative in New York. Moderated by Chelsea Clinton, the discussion touched upon a wide range of topics, from Ma's relationship with money, his vision for Alibaba and charity. Wearing a dark Mandarin collar jacket, the outspoken Ma did not hold back. Here are parts of the conversation, edited for clarity. More money more "headaches"? The former English teacher said he was paid $20 a month when he first graduated from college. Those were "fantastic days" he said, sounding nostalgic. He said anyone with $1 million is "a lucky person." But if you have $10 million, "you've got troubles," since you need to worry about how to invest and other "headaches." But when you have $1 billion is when you have a responsibility to the people who trust you to spend it wisely. At that level, "people believe you can spend the money better than others." How to spend $25 billion Ma's company Alibaba debuted last week in the U.S. stock market and shattered all records by raising about $25 billion. Ma thanked America for helping Alibaba "raise a little money so we can do more things." There are roughly 7 billion people in the world, but only half a billion shop on the Internet, which means there's a huge opportunity, he said. Seated between the finance minister of Nigeria and the CEO of General Motors (GM), Ma said Alibaba wants to connect buyers and sellers from Nigeria to the Philippines to China. The importance of foresight Ma stressed how important it was to think ahead. "We got successful today -- not because we did a great job today. We had a dream 15 years ago" that the internet could help small businesses. He said though some people have linked Alibaba's success to "secret government support," it was actually more a result of hard work and dedication. "We don't have a rich father or a powerful uncle," he said. "We only have the customers that support us." Alibaba's spectacular rise from a start-up in Ma's apartment 15 years ago to one of the world's largest companies today is proof that "80% of the people in China can be successful," he said. H! elp small guys. Because small guys will be big Ma has set aside $3 billion to invest in a charitable trust. His priorities are the environment and education. He said millions of people in China will develop "health problems" if nothing is done to combat air and water pollution. But he sounded optimistic about being able to change this, noting that people doubted his business ambitions too. Ma also stressed the need to invest in culture. "I don't want people in China to have deep pockets but shallow minds," he said. Ma, who has said he admires Forrest Gump, ended his remarks with a simple formula for changing the world. "The secret here is helping those who want to be successful. Help young people. Help small guys. Because small guys will be big. Young people will have the seeds you bury in their minds and when they grow up they will change the world." More coverage Alibaba founder Jack Ma now China's richest man Alibaba IPO means a big payday for Jack Ma Meet four kings of Alibaba's online retail empire  Who is Jack Ma?
 NEW YORK (CNNMoney) The Ebola virus has already killed thousands in West Africa, an immeasurable loss for many families. As medical workers try to quell its spread, global organizations are calculating the economic impact of the disease. "Their economies are basically being devastated," said Daniel Epstein, a spokesperson for the World Health Organization. "Economic activity has halted in many areas there. The harvest isn't going on. People can't fly in and fly out." WHO workers even had difficulty flying into the Ebola-stricken nations of Liberia, Sierra Leone and Guinea, Epstein said. Over 2,600 people have died, according to the latest WHO count. If Ebola is not contained this year, the cost could increase by eight times its current estimate, according to a report published Wednesday by the World Bank Group. Ebola's toll in Liberia alone could affect almost 5% of the country's GDP this year, the World Bank said. "Our findings make clear that the sooner we get an adequate containment response and decrease the level of fear and uncertainty, the faster we can blunt Ebola's economic impact," said World Bank president Jim Yong Kim in a statement. In need of aid: The United Nations said this week that $1 billion in aid is needed to contain the Ebola outbreak. But a UN database tally of donations shows that many wealthy Western nations that verbally pledged support have donated paltry sums to fight the disease. Total donations, including non-binding pledges, to fight Ebola are about $388 million, well under half of the United Nation's estimate, according to data from Financial Tracking Service, a database that tracks humanitarian aid and is managed by the United Nations. The Obama administration announced this week that it hopes to send an additional $500 million in huma! nitarian aid to the West African nations this fiscal year. Even with the U.S. government's significant aid proposal, the total number would still fall short of the United Nations' estimate of a billion. UN Secretary-General Ban Ki-moon went as far as saying "our best estimate is that we need a 20-fold increase in assistance" at a meeting this week. Some private foundations have also stepped in. The Bill and Melinda Gates Foundation has donated over $8 million so far to various organizations to fight Ebola. That is more than the combined donations of Canada, Germany and Spain, according to FTS data. Overall, the Gates Foundation has pledged $38 million, which eclipses many more countries. Epstein noted that countries such as Canada contribute to the aid effort in non-monetary ways by sending aid workers and conducting medical research. "We're also at the stage where people are seeing what the landscape is and figuring out, what's the best way to donate funds?" Epstein said. "In a humanitarian crisis, there are often delays between what people realize what they have to do and what they actually do."
Software maker Autodesk (NASDAQ: ADSK ) announced today that it's collaborating with Local Motors, a leader in open-source 3D printing hardware innovation. Local Motors will be using Autodesk's Spark, a new open platform for 3D printing, as it continues to develop the Strati, the world's first 3D-printed full-size car. First, let's look at Autodesk's 3D printing initiative and its just-announced team-up, and then we'll explore the potential ramifications of the success of this partnership.  Conceptual rendering of Strati. Source: Cincinnati. Audodesk's 3D printing initiative and the Local Motors team-up
Earlier this year, Autodesk announced plans to introduce Spark. Spark is aimed at making it simpler and more reliable to print 3D models and easier to control how those models are printed. Essentially, Spark acts as a bridge between the design and 3D printing of an object, as it translates digital design data from modeling software into a form that's required by a 3D printer. At the time of this announcement, Autodesk also said it would be launching a 3D printer, which will serve as a reference implementation for Spark (for those who don't already have their own hardware). The Spark platform can be used for the full range of 3D printing applications from consumer to industrial. Aubrey Cattell, Autodesk's Director of Business Development, told me via a phone interview that the company views the manufacturing space as having the most potential. So, it's no surprise that its first Spark team-up involves a large-scale, industrial project. The Strati project, which I've previously written about, is a fascinating and timely one. No doubt, the timeliness factor is why Audodesk released its announcement today. Just last week, the first Strati was 3D-printed live at the International Manufacturing Technology Show in Chicago. The body of the vehicle was printed in a carbon-fiber-reinforced ABS thermoplastic by the BAAM (big area additive manufacturing) machine, which was just developed by privately held Cincinnati and the Department of Energy's Oak Ridge National Lab. I brought Foolish readers news of this partnership last February. The BAAM machine is an ultra-fast, large-scale polymer 3D printer that reportedly is 200 to 500 times faster and capable of printing polymer components 10 times larger than commercially available printers.  BAAM machine printing the Strati at the IMTS. Source: Autodesk. While the 3D printing of the Strati was successfully accomplished at the IMTS, there were some bumps in the road, as would be expected with any new technology. That's where Autodesk's Spark comes in. Spark will help connect automobile digital design data to the BAAM 3D printer in a streamlined way for easier visualization and optimization of 3D prints. "The Spark platform is set to accelerate manufacturing innovation," said Alex Fiechter, head of community management for Local Motors, in the press release. "From capturing our ideas more accurately to guiding Design for Additive Manufacturing (DFAM) and simplifying the creation of machine code, Spark will help us to turn digital models into actual physical production parts far faster [emphasis mine] than was previously possible." Spark's goal: Lighting a fire under the adoption of 3D printing
Both Autodesk's Spark platform and the company's 3D printer design are open and freely available to hardware manufacturers, software developers, and others. This move marks the first time a major company has entered the 3D printing open source space. Why would Autodesk introduce such a platform? Simple. Autodesk makes computer-aided design (CAD) software for 3D printing, as well as other uses, so the company's potential market for its design software will increase as 3D printing becomes more prevalent. Thus, Autodesk has a big incentive to do what it can to make 3D printing as streamlined and user-friendly as possible. Autodesk isn't the only player in the 3D printing design software space, but it's one of the biggest. France-based Dassault Systemes is also a major force in this market. Fellow Fool Tim Beyers nicely summed up the company's strategy after Autodesk made its 3D printing plans public earlier this year: It's "reminiscent of how Google used the Nexus brand to accelerate development of third-party Android devices," he said. Tim says that he believed Autodesk's strategy was a smart one -- and I agree. Autodesk doesn't have much to lose and has everything to gain. After all, 3D printing is a huge growth space. According to Wohlers Report 2014, the global 3D printing industry is expected to grow from $3.07 billion in 2013 to more than $21 billion by 2020; that's greater than a 31% compounded annual growth rate. Furthermore, if Spark can speed up the adoption of 3D printing, then Wohlers' estimates could prove to be conservative. Beyond Autodesk, there are certainly other potential winners if Spark helps increase the rate at which industrial companies adopt or further embrace 3D printing: manufacturers of 3D printers and companies that provide 3D printing services for industrial applications. This includes, to varying degrees, 3D Systems, Stratasys, ExOne, Arcam, voxeljet, and Materialise. Materialise doesn't make 3D printers like the others; however, it does provide 3D printing services. Foolish final thoughts
If the Autodesk-Local Motors team-up can demonstrate that the Spark platform increases the ease and efficiency of Local Motors' 3D printing efforts on its Strati project and beyond, Spark could accelerate the adoption of 3D printing for industrial applications. This would likely benefit some or all of the publicly traded 3D printer manufacturers and 3D printing service providers. It could also light a fire under Audodesk's 3D printing design software sales. As with the Strati, investors should stay tuned. We'll be keeping you updated as to the progress of this team-up as well as any new Spark partnership agreements that Autodesk inks. The under-the-radar best way to profit from the Apple Watch
You may have missed profiting from Apple's huge stock price run-up due to the introduction of the iPod, iPhone, and iPad. However, the Apple Watch -- just announced last week -- could trump the everyday impact of its existing products. And one small company is poised to profit as wearable computing products take off. Its stock price has nearly unlimited room to run for early investors. To be one of them, click here.
 Source: Steven Depolo via Flickr. A lot of the investment advice you read has to do with planning for retirement -- and for good reason. After all, achieving financial freedom and having the means to live life on your own terms is a big part of the "American dream." However, what should you do with your money after you retire? Should you keep your money in the same investments, or should you get more conservative? And how much should you withdraw every year? Plan to get conservative, but not too conservative
Having the majority of your investments in stocks or stock funds is completely fine, even during the latter stages of your working life. Many people achieve big portfolios that can see them through retirement by harnessing the awesome power of compounding stock returns. However, once you retire, some changes may be necessary. In a nutshell, you need to find a compromise between risk and return. You certainly want your portfolio to produce enough income that your nest egg will last throughout your retirement, but you also don't want to be at risk of losing a substantial portion of your portfolio if the economy goes bad. The exact mix of assets that is right for you depends on a few factors, such as the size of your portfolio relative to your income requirements and how old you'll be when you retire. For example, if you need $50,000 in annual income and you have a $1 million portfolio, you'll probably need to take some risk to achieve that income throughout retirement. And if you retire early, you'll want to take extra caution, as your money will need to last through a longer retirement. There is no magic mix of stocks and fixed income for new retirees, but you'll want to have significant exposure to both. The stock portion of your portfolio should be in a diverse basket of high-dividend, low-volatility stocks (or stock funds) with a long record of raising their dividends. Consider companies such as AT&T or ExxonMobil, which pay respective yields of 5.3% and 2.8% and have increased their dividends for 29 years and 31 years, respectively. Fixed-income investments should consist of a mix of high-quality bonds (or bond funds) with various maturity dates. However, use caution when choosing bonds with long maturities, as these get hit hardest when interest rates rise. This combination of rock-solid dividend stocks and predictable fixed-income securities should produce decent income while still allowing your investments to grow over time. And both types of investments are relatively low-risk, so you'll be able to sleep well at night. You'll also want to adapt your portfolio to changing market conditions. For example, if interest rates jump through the roof and investment-grade bonds start to yield 8% or so, it may be a good idea to shift some of your money out of stocks and lock in those high rates for years to come. Don't rely on "withdrawal rules"
An oft-cited piece of advice by retirement experts is the so-called "4% rule." Basically, this says you should withdraw 4% of your retirement savings during your first year of retirement and give yourself cost-of-living increases to keep up with inflation in subsequent years. The idea is that if you follow this rule, your money should last throughout your life. The problem with this is that you'll need a different amount of money in every year of your retirement. For example, healthcare costs can vary dramatically from year to year, and they tend to take up a growing portion of our spending as we age. Maybe you know your grandchild is going to college in a few years and you plan to help with tuition. . It's best to anticipate changing expenses throughout your retirement, so plan your withdrawal strategy accordingly. Further, the market performs differently from year to year. Even if your money is in fixed-income instruments, the value of those investments will rise and fall as the market fluctuates, so you may find yourself having to cut back during tough years. For a basic example, let's say your portfolio is worth $1 million when you retire, so you decide to withdraw $40,000 during your first year of retirement, leaving $960,000 in your account. Let's also say that the market has a bad year and the value of your portfolio drops by 5% during that year to $912,000. Instead of taking out another $40,000 the next year, it might be a good time to cut back your spending (temporarily) to, say $30,000. By doing so, you'll leave more money in your account to take advantage of the eventual market rebound, and your money will be more likely to outlive your retirement. And this advice goes both ways: If the market has a good year and your portfolio rises by 5%, you may decide to take out a little extra to treat yourself. Your withdrawal strategy needs to adapt to changing market conditions and adjustments in your expenses from year to year. Social Security: When to start collecting
Americans can begin receiving Social Security benefits as early as age 62 and as late as age 70. While this eight-year window may not sound like a huge time frame, your choice of when to claim benefits can make a big impact on the amount you receive throughout your lifetime. This should definitely be taken into account when planning your income requirements in retirement. Let's say that your estimated Social Security benefit at full retirement age -- between 66 and 67 for most of today's prospective retirees, as defined by the SSA -- is $1,000 per month, or $12,000 per year, and that you've decided you'll need a total of $60,000 per year to live comfortably after you retire. If you begin collecting benefits as soon as you're eligible at age 62, this amount would drop to about $750 per month, and you would need to withdraw $51,000 per year from your savings in order to bridge the gap. On the other hand, if you wait until age 70, your benefit could rise to $1,320. This means that only $44,160 of your $60,000 income requirement would need to come from your investments. Everyone is different
The bottom line is that, whether you have a $50,000 investment portfolio or a $50 million one, you need to adjust your post-retirement strategy to fit your own life. More importantly, your strategy needs to be adaptable to your changing lifestyle, as well as changing market conditions. How to get even more income during retirement
Social Security plays a key role in your financial security, but it's not the only way to boost your retirement income. In our brand-new free report, our retirement experts give their insight on a simple strategy to take advantage of a little-known IRS rule that can help ensure a more comfortable retirement for you and your family. Click here to get your copy today. 
As an electronics giant, Sony (NYSE: SNE ) has certainly seen better days: Once industry-leading, many of its most well-known products have long been outclassed. Sony's Walkman was overtaken by Apple's (NASDAQ: AAPL ) iPod a decade ago -- its TV business has been a consistent source of red ink for just as long. Unable to run it profitably, Sony sold off its Vaio PC division earlier this year. There is, however, one bright spot among Sony's many struggling electronics: Its latest video game console. Sony's PlayStation 4 has set sales records, and consistently outsold its competition, often by a ratio of three-to-one. Now Sony is looking to extend its video game dominance into other product categories -- its newest mobile devices interface directly with the PlayStation 4. Given the popularity of Sony's console, this unique feature could give Sony's products a leg up in a market that's thus far been dominated by Apple and Samsung (NASDAQOTH: SSNLF ) . Sony adds remote play to Xperia
Like a DVD player, video game consoles have traditionally required a connected TV to function. That's understandable, but somewhat of a major limitation -- as long as that console is in use, the TV it's attached to is fully occupied. At the same time, (and perhaps even more limiting) games can only be enjoyed while sitting directly in front of that TV. Sony's PlayStation 4, though, is an exception: Using remote play, PlayStation 4 games can be streamed wirelessly to a compatible device. In other words, a PlayStation 4 owner can, if they so choose, enjoy their games while someone else watches a movie on the TV, or play their PlayStation 4 in a different room of the house -- perhaps one that lacks a TV entirely. Right now, the only remote play-compatible device is Sony's Vita -- a $200 handheld console that's largely been a commercial failure. But that's about to change: Later this year, Sony's next-generation mobile devices will go on sale -- and all will offer remote play functionality. This list includes Sony's flagship Xperia Z3 smartphone, as well as the slightly smaller Xperia Z3 compact and the Xperia Z3 tablet. Paired with a controller, these devices offer PlayStation 4 owners the ability to play their games without a dedicated TV. Sony's mobile division has been struggling
Sony's mobile division hasn't been a total failure, but it has fallen short of the company's expectations, and has largely been overshadowed by Apple and Samsung. When Sony reported its first quarter results in July, it cut its outlook for smartphone sales -- Sony now expects to sell just 43 million smartphones this year, fewer than the 50 million it had anticipated in May. Worse, Sony said its mobile division lost money and will only break-even in 2014 -- it had previously been a source of profit amid otherwise poor results. In contrast, Apple and Samsung sold more than 150 million and more than 300 million smartphones, respectively, last year. Both firms have consistently generated billions in profits in recent quarters, with the bulk of their earnings coming from sale of smartphones and tablets. 80 million reasons to believe in Sony
Can Sony's mobile division overtake Apple and Samsung? In the near-term it doesn't seem likely, but remote play functionality could help Sony poach many of both companies' best customers. Last month, Sony said that it had sold more than 10 million PlayStation 4 consoles to end-consumers -- a stunning achievement given that the console had been on the market for fewer than nine months. Its predecessor, the PlayStation 3, initially struggled, but went on to sell more than 80 million units worldwide. Given its impressive early sales, the PlayStation 4 could ultimately sell as well as, or much better than, the PlayStation 3. With the added perk of remote play, many PlayStation 4 owners could opt for Sony's mobile devices over rival products from Apple and Samsung. If so, it could be particularly devastating to the South Korean tech giant, as Samsung's mobile products, like Sony's, are powered by the Android operating system. Apple, with its control of iOS, is a bit more insulated, but dedicated gamers could still find the added functionality too enticing to pass up. Obviously, there are many more smartphone and tablet owners than there are PlayStation 4 owners, but remote play could still conceivably convert millions of buyers -- and given the PlayStation 4's relatively high price tag ($399), more valuable buyers at that. Only time will tell if remote play emerges as a must-have feature, but with Sony's new hardware-based ecosystem, continued strong PlayStation 4 sales should be seen as a positive for its mobile business -- and a slight negative for its rivals like Apple and Samsung. Leaked: Apple's next smart device (warning, it may shock you)
Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out, and some early viewers are claiming its everyday impact could trump the iPod, iPhone, and the iPad. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!
Source: Lumber Liquidators
In 2012 and 2013, Lumber Liquidators (NYSE: LL ) was one of the darlings of the stock market, with the specialist in hardwood and other flooring materials rode the wave of positive sentiment about the recovering housing market to record-high levels. Yet even as broader-based home-improvement retailers Home Depot (NYSE: HD ) and Lowe's (NYSE: LOW ) have largely managed to sustain their share-price advantages even as fears increase about a possible end to the recent rise in housing prices, Lumber Liquidators has seen questions come up about its ability to keep growing at the pace investors expect. So far, Lumber Liquidators hasn't given investors the answers they want to hear, and the stock has plunged as a result. Let's take a closer look at Lumber Liquidators to see whether the drop in its share price is a buying opportunity or just a sign of further weakness to come. Stats on Lumber Liquidators | 2014 YTD Return | (44.6%) | | Expected 2014 Revenue Growth | 7.3% | | Expected 2014 EPS Growth | (2.5%) | | Expected 5-Year Growth Rate | 18% | Source: Yahoo! Finance What sent Lumber Liquidators stumbling?
2014 definitely hasn't been the best of years for Lumber Liquidators, but it has taken a while for investors to get a clear sense of exactly what's behind the stock's sluggish performance. Early in the year, it was easy for investors to blame a harsh winter season for poor results. When Lumber Liquidators reported first-quarter results in May, it reported sales that were more than 6% less than investors had expected, and earnings per share fell short by about 20%. Indeed, Lumber Liquidators was able to quantify the impact of winter weather on the retailer, pointing to same-store sales gains of 8.5% in areas unaffected by harsh weather compared to a plunge of 13% in same-store sales in harder-hit areas. At the time, CEO Robert Lynch seemed to assure investors that the shortfall was a temporarily glitch. Yet by the time the second quarter rolled around, Lumber Liquidators failed to see the recovery that nervous investors were counting on. Instead, Lumber Liquidators issued a warning in July about its second-quarter results, with the company expecting plunging same-store sales yet again along with declines in margins that hurt earnings. The company cited greater promotional discounting from competitors as well as a jump in general overhead expenses, especially because of higher advertising, legal, and professional expenses. 
Source: Wikimedia Commons
Put together, Lumber Liquidators now expects the entire year to be poor, cutting its sales guidance by between 9% and 10% and projecting that its same-store sales growth would fall to the low single-digit percentage range. Overall, a $0.60 per share earnings cut represented about 17% to 18% of its previous guidance, signaling that Lumber Liquidators doesn't expect improving conditions in the near term. Can Lumber Liquidators bounce back?
The key question for Lumber Liquidators is what happens to the housing market. One of the most troubling things about the company's problems is that they've come despite relative strength in housing thus far. Indeed, the positive results and optimistic expectations for Home Depot and Lowe's have come in part from investors being impressed that the housing market has managed to avoid losing steam thus far. Of course, calls for a slowdown in housing have proven premature before. Last year's jump in interest rates led many to conclude that mortgage rates would move sharply higher. Yet after adjusting to new conditions, rates have flattened out and even declined in the interim, helping to sustain ongoing gains in home prices. If Lumber Liquidators can tap into that positive momentum in housing before the recovery runs its course, then its recent share-price swoon will make the stock look like a bargain in hindsight. Building up Lumber Liquidators' future
Lumber Liquidators has to convince investors that it can rebound from its recent troubles and demonstrate the same drive that made the flooring specialist's stock soar during 2012 and 2013. Otherwise, this year's 45% drop in the shares might merely reflect the first stage of a tough long-term future for Lumber Liquidators. Warren Buffett: This new technology is a "real threat"
At the recent Berkshire Hathaway annual meeting, Warren Buffett admitted this emerging technology is threatening his biggest cash-cow. While Buffett shakes in his billionaire-boots, only a few investors are embracing this new market which experts say will be worth over $2 trillion. Find out how you can cash in on this technology before the crowd catches on, by jumping onto one company that could get you the biggest piece of the action. Click here to access a FREE investor alert on the company we're calling the "brains behind" the technology.
Apple‘s (AAPL) potential move into the market for electronic payments at retail point of sale may already be upsetting the, uh, apple cart for payment processors, according to a note today from Credit Suisse‘s Moshe Orenbuch, who follows shares of American Express (AXP) and who has an Underperform rating on that stock. Writes Orenbuch, at the outset, an Apple entry will probably be just a “ripple” rather than a “wave” for traditional payments firms. However, “Longer-term, a successful Apple payment system roll-out would in our view most likely disrupt the interchange revenue stream earned by card issuing banks and 3-party providers such as AXP, as merchants clamor for lower fees given the rise of fraud combating technologies.” Notes Orenbuch, Apple’s negotiating lower fees on transactions: Reports suggest that five of the six credit card issuers in our coverage universe (the largest issuers of V, MA and AXP) have agreed to lower discount rates by 15-25 bps (and likely incur other costs as well) to be included in AAPL’s digital wallet. While AAPL may assume some of the increased fraud risk due to “Card Not Present,” we believe the fear of being “left out” of a payment system via the iPhone and iWatch is a more compelling driver to lower rates. He thinks that could set up a situation where American Express may have to negotiate with other parties: Although an agreement with AAPL may be a “special situation” given its size and influence, we believe more merchants and merchant aggregators may begin demanding concessions by AXP on its discount rate. We would note that 15 bps of discount rate pressure on the US business would represent $0.60 per share in 2015 (more than 10% of 2015 EPS), unless offset by lowering of rewards. American Express shares today are down 53 cents, or 0.6%, at $89.08. Apple stock is off 17 cents at $98.80.
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