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At-Home Dads Returning to Work

Q: I enjoyed your article on stay-at-home moms returning to work. Do you see men facing the same issues? After 10 years at home with my kids, I am beginning to interview for jobs and am preparing for the transition you describe.

—R.C., Marietta, Ga.

A: Many at-home dads have faced challenges in making the transition back to work, as described in the column, but they are seldom willing to tell their stories for the record. Men typically encounter even more skepticism than women when they return from time at home caring for their children, says Carol Fishman Cohen, co-founder of iRelaunch.com, a Web site for people returning from career breaks. The recession has actually eased the stigma by making it easier for returning dads to blend into the crowd of other jobless men.

Networking is even more important for male on-rampers than for women, Ms. Cohen says. The key is to forge connections with people who have known you in roles other than parenting, she says. Former classmates or co-workers or fellow committee members in volunteer activities can help you reconnect with the working world. Consider signing up for a career re-entry seminar at a university or community college near you, to brush up on basic skills, practice interviewing, network and look for job leads.

If you can’t find a social or professional networking group with other men who have taken time off, consider starting one yourself, says Mercy Eyadiel, director of alumni career services at the Stanford Graduate School of Business, which offers a career re-entry program with the University of Virginia Darden School of Business. If you are able to consult with a career or life coach, doing so could help you clarify your goals and set an action plan and timeline, Ms. Eyadiel says. When interviewing, don’t apologize for your time away, but focus on what you could do for a new employer.

Q: If parents of teenage children divorce, is it right for moms or dads to leave their homes open when they aren’t present, so the kids can come and go as they please? My husband and I don’t allow my teenagers in our home when we are away, bolting our door when we leave. However, my ex-husband leaves his house open to the kids 24/7, even when he travels on business. The kids accuse me of lacking trust in them, but I am concerned that they or their peers might use the house for parties. Am I off base?

—L.M.

A: Not at all. “It is very risky for teens to be unsupervised for long periods,” says JoAnne Pedro-Carroll, a Rochester, N.Y., clinical psychologist and an expert on children and divorce.

Teens do best with consistent structure and clear rules, she says. “Deep down, too much freedom results in a concern that their parents really don’t care about them. Teens need and want limits to help them learn to manage their impulses and choices.”

Your question raises another issue—cooperating with your kids’ father, says Dr. Pedro-Carroll, author of a forthcoming book on children and divorce, “Putting Children First.” It would help your teenagers if the two of you could agree on how they should be supervised while either of you is away. “Right now, your kids are caught between two extremes: A bolted door at one house, and too much freedom at the other,” Dr. Pedro-Carroll says. She advises working toward an agreement that will ensure that they always have a responsible adult present.

Many divorced parents have such a requirement as part of their parenting agreement to cover times when one parent is out of town. If the other parent can’t oversee the kids, then the responsible parent must make arrangements to find another adult to help out. If you don’t have such an agreement, she says, “it may be time to renegotiate.”

Write to Sue Shellenbarger at sue.shellenbarger@wsj.com

© 2011 Wall Street Journal (www.wsj.com)

Originally Published On: online.wsj.com – Original Article Here

A Crude Case for Europe

Oil bulls looking for an extra advantage heading into the second half of the year need look no further than an exchange-traded fund that buys European rather than domestic crude.

Under normal circumstances there isn’t much of a price difference between the two. But after political turmoil spread across the Middle East and North Africa in January, prices for Brent crude—the European benchmark, named for one of the first oil fields in the region—soared above prices for West Texas Intermediate oil.

Spot prices for the U.S. benchmark are up 7.5% this year, through midweek. By comparison, front-month prices for Brent are up nearly 19%—and that includes a selloff of roughly 4% Wednesday. “The gap we are seeing now is probably the biggest in 30 years,” says John Hyland, chief investment officer at U.S. Commodity Funds.

The firm runs several oil ETFs. United States Oil Fund (ticker: USO), the industry granddaddy, buys WTI contracts. Its younger sibling, United States Brent Oil Fund (ticker: BNO), purchases only Brent futures. BNO had returned more than 21% year to date through Thursday, while USO was up 1%. But even if Libyan oil fields ramp up production and political unrest in the Persian Gulf states subsides, BNO figures to hold the advantage.

Both ETFs buy near-month contracts, or those closest to expiration, and roll them near expiry into the next month’s contracts, never taking physical delivery of crude. Prices for Brent front-month contracts have been more expensive in the past three months than those due for delivery in the future, a circumstance known as backwardation.

Conversely, near-term contracts for WTI are trading at a discount to those expiring at later dates, a situation known as contango. Thus, USO has been rolling contracts each month at progressively higher prices, which can eat into an investor’s wallet. Based on the current contango, Hyland estimates WTI’s returns are being reduced by about 6% on an annualized basis. The Brent contracts, however, are reaping around a 7% pricing benefit from backwardation.

NEAR-MONTH PRICING PREMIUMS IN BRENT FUTURES have flattened recently. But Edward Meir, a senior commodities analyst at MF Global, says those contracts could remain in backwardation for the foreseeable future and continue to provide a performance advantage over funds focused on WTI futures.

Still, USO’s $1.8 billion in assets dwarf BNO’s $38 million. Part of that owes to the older ETF’s first-to-market advantage. It celebrated its fifth year recently, while the more youthful BNO will mark the one-year anniversary of its launch in June.

Another reason for BNO’s lack of celebrity status likely relates to the fact that it can take time for contango and backwardation to make a real impact on a portfolio. Data provided by U.S. Commodity Funds indicate that under current conditions, investors might realize about a 0.5% boost in Brent’s total returns on a monthly basis as a result of backwardation.

That isn’t much for big hedge funds and institutional traders, but regular Joes and their advisors might find such an edge worthy of exploration. 

E-mail:
murray.coleman@barrons.com
twitter.com/colemanfunds; blogs.barrons.com/focusonfunds

© 2011 Wall Street Journal (www.wsj.com)

Originally Published On: online.barrons.com – Original Article Here