Friday, July 17, 2015
Gold/platinum credit card and Greek Crisis
The current Greek financial crisis is very much akin to a person who is trying to cling on to his gold credit card that he can't afford. The worst thing is that he has to depend on the sympathy of his richer neighbors to lend him more money to pay off the interest he owed.
Saturday, July 27, 2013
The Personality Cult
Below is a snippet taken from Alexander Elder's book "Trading for a living":-
Most people give lip service to their wish for freedom and independence. When they come under pressure, they change their tune and start looking for"strong leadership." Traders in distress often seek directions from assorted gurus.Even though this book is about trading in financial markets, these words captured my attention. It summarizes how most people behave when facing challenges. How often we have fantasy which are beyond our mental and physical abilities yet we failed to acknowledge our own short comings and limitations. On the flip side of it, it was these fantasies that has fueled our desire to survive Taking them away, maybe, some people will find live no longer worth living.
When I was growing up in the former Soviet Union, children were taught that Stalin was our great leader. Later we found out what a monster he had been, but while he was alive, most people enjoyed following the leader. He freed them from the need to think for themselves.
"Little Stalins" were installed in every area of society-in economics, biology, architecture, and so on. When I came to the United States and began to trade, I was amazed to see how many traders were looking for a guru their"little Stalin" in the market. The fantasy that someone else can make you rich deserves its own discussion later in this chapter.
Saturday, June 26, 2010
Love YourSelf
Learn about these from somewhere but just couldn't recall the source. Here is a brief summary of what I learn:
Do I Love Me!
Miracles are possible; And I deserve all of them; I am good enough; I am enough to have them now!!!
When something good comes my way, I will take it and accept it and will not push it away!!!
Faith is most important.
Faith is the starting point of success
Faith is the basis of all miracles
Faith is the only antidote for failure
faith lets you draw on immense power
Do I Love Me!
Miracles are possible; And I deserve all of them; I am good enough; I am enough to have them now!!!
When something good comes my way, I will take it and accept it and will not push it away!!!
Faith is most important.
Faith is the starting point of success
Faith is the basis of all miracles
Faith is the only antidote for failure
faith lets you draw on immense power
How to develop a step by step success road map
The following is a summary of developing a success road map:
1. Dream Big Dream. Work out the detailed goals year by year for the next 10 years.
2. Develop a clear directions. Write down the basic principles and final outcome.
3. See yourself as self employed (even if you are still an employee). What is holding you back? What are you excuses? Kill them. No Reasons.
4. Do what you love to do. Never "work" another day.
5. Commit to excellence. The quality of your life is determined by the depth of your commitment to excellence, no matter what your chosen field is - Vince Lombardi.
6. Work longer and harder. Plan you work hours, increase effective working hours and act on things that matters.
7. Dedicate yourself to life long learning. Select topics to learn.
8. Pay yourself first. Make a deposit saving everyday. Allocate money for your business, expense and savings.
9. Learn every details of your business. Identify the trend in your business and know what the key competence are. Creative product, identify pain/need etc.
10. Dedicate yourself to serving others. Help others get what they want.
11. Be absolutely honest with yourself and others. Almost every problem in life can be resolved by returning to your core values.
12. Determine highest priorities & concentrate on them single-minded.
13. Speed and Dependability. Identify the most procrastinating task and act on it first. Do it now.
14. Be prepared to climb from peak to peak.
15. Self discipline in all things. Chane one thing at a time. Tracking each changes.
16. Your inborn creativity. What is your most pressing problem?
17. Get around the right people.
18. Excellent care of your health. High level of health and energy.
19. Decisive & Action Oriented. What action if immediately will have the greatest positive results.
20. Failure is not an option. Persistence.
1. Dream Big Dream. Work out the detailed goals year by year for the next 10 years.
2. Develop a clear directions. Write down the basic principles and final outcome.
3. See yourself as self employed (even if you are still an employee). What is holding you back? What are you excuses? Kill them. No Reasons.
4. Do what you love to do. Never "work" another day.
5. Commit to excellence. The quality of your life is determined by the depth of your commitment to excellence, no matter what your chosen field is - Vince Lombardi.
6. Work longer and harder. Plan you work hours, increase effective working hours and act on things that matters.
7. Dedicate yourself to life long learning. Select topics to learn.
8. Pay yourself first. Make a deposit saving everyday. Allocate money for your business, expense and savings.
9. Learn every details of your business. Identify the trend in your business and know what the key competence are. Creative product, identify pain/need etc.
10. Dedicate yourself to serving others. Help others get what they want.
11. Be absolutely honest with yourself and others. Almost every problem in life can be resolved by returning to your core values.
12. Determine highest priorities & concentrate on them single-minded.
13. Speed and Dependability. Identify the most procrastinating task and act on it first. Do it now.
14. Be prepared to climb from peak to peak.
15. Self discipline in all things. Chane one thing at a time. Tracking each changes.
16. Your inborn creativity. What is your most pressing problem?
17. Get around the right people.
18. Excellent care of your health. High level of health and energy.
19. Decisive & Action Oriented. What action if immediately will have the greatest positive results.
20. Failure is not an option. Persistence.
Principles of success
To be able to live happily and meaningfully, the most basic thing for anyone to do is to believe in oneself. To be successful in anything we do, there are a few principles that we can follow:
1. Be passionate about what we do and wanting it badly
2. Extend our comfort zone to accommodate what we need to do
3. Lies and Luck Don't Work
4. Install Goals (Precise)
5. Enjoy Hard Work
6. Be very very persistent
7. Expect Failure. Failure is not scary, failing to start is.
8. Believe in yourself
These 8 principles are very basic and sounded very simple. The real challenge is to be able to stick to it persistently. That is make or break for anyone.
1. Be passionate about what we do and wanting it badly
2. Extend our comfort zone to accommodate what we need to do
3. Lies and Luck Don't Work
4. Install Goals (Precise)
5. Enjoy Hard Work
6. Be very very persistent
7. Expect Failure. Failure is not scary, failing to start is.
8. Believe in yourself
These 8 principles are very basic and sounded very simple. The real challenge is to be able to stick to it persistently. That is make or break for anyone.
Thursday, January 07, 2010
Changre Your Attitude and Emotions To Advance
Take a look at how countries doing and try to reflect on us. Countries with rich culture and history is not necessarily the richest countries. Countries with rich natural resources are not necessarily rich. Why?
One reasoning is that when you have things come to you easy, you tend to lose them easily. You would not treasure them or appreciate them. On the other hand, many countries with limited natural resources enjoy high standards of living. Then have hardworking and competitive population. Are these caused by the environment? That could be true. But more importantly, the success depends on their attitude.
I am going to share what I learned about how to change our attitude but resetting our brain (mind). Too often, we are paralyzed by our fear and worries. Worries and fears prohibit us from taking positive actions to achieve better life for ourselves (in terms of happiness). Here is a way to get rid of our fears and worries and start to live a life with purpose and focus.
Step One:
Write down a list of "TO DO LIST"
Business or personal, big or small. All to be recorded.
Step Two:
Write down all the things you want in life but has not gotten them yet. Again, this has to be all inclusive. Major or minor goals and dreams.
Step Three:
Write down all the worries you have and next to each worry, write down the worst case scenario if that really happens.
After writing down all the worst case scenarios, you will be able to analyze the worst situation that you can come to. This will be the maximum risk in life that you will face. Next, you can plan a new set of action plans based on what you can take. Write a new action plan and TO DO LIST with the Maximum Risk you will potentially face in mind.
Now you can have peace of mind to do what you set out to do.
One reasoning is that when you have things come to you easy, you tend to lose them easily. You would not treasure them or appreciate them. On the other hand, many countries with limited natural resources enjoy high standards of living. Then have hardworking and competitive population. Are these caused by the environment? That could be true. But more importantly, the success depends on their attitude.
I am going to share what I learned about how to change our attitude but resetting our brain (mind). Too often, we are paralyzed by our fear and worries. Worries and fears prohibit us from taking positive actions to achieve better life for ourselves (in terms of happiness). Here is a way to get rid of our fears and worries and start to live a life with purpose and focus.
Step One:
Write down a list of "TO DO LIST"
Business or personal, big or small. All to be recorded.
Step Two:
Write down all the things you want in life but has not gotten them yet. Again, this has to be all inclusive. Major or minor goals and dreams.
Step Three:
Write down all the worries you have and next to each worry, write down the worst case scenario if that really happens.
After writing down all the worst case scenarios, you will be able to analyze the worst situation that you can come to. This will be the maximum risk in life that you will face. Next, you can plan a new set of action plans based on what you can take. Write a new action plan and TO DO LIST with the Maximum Risk you will potentially face in mind.
Now you can have peace of mind to do what you set out to do.
Friday, July 17, 2009
Why some are rich and others are poor?
A friend sent me the following message:
To reflect and... Act.
The difference between the poor countries and the rich ones is not the age of the country.
This can be shown by countries like India & Egypt, that are more than 2000 years old and are poor.
On the other hand, Canada, Australia & New Zealand, that 150 years ago were inexpressive, today are developed countries and are rich.
The difference between poor & rich countries does not reside in the available natural resources.Japan has a limited territory, 80% mountainous, inadequate for agriculture & cattle raising, but it is the second world economy. The country is like an immense floating factory, importing raw material from the whole world and exporting manufactured products.
Another example is Switzerland, which does not plant cocoa but has the best chocolate of the world.
In its little territory they raise animals and plant the soil during 4 months per year. Not enough, they produce dairy products of the best quality. It is a small country that transmits an image of security, order & labor, which made it the world’s strong safe.
Executives from rich countries who communicate with their counterparts in poor countries show that there is no significant intellectual difference. Race or skin color are also not important: immigrants labeled lazy in their countries of origin are the productive power in rich European countries.
What is the difference then?
The difference is the attitude of the people, framed along the years by the education & the culture. On analyzing the behavior of the people in rich & developed countries, we find that the
great majority follow the following principles in their lives:
1. Ethics, as a basic principle.
2. Integrity.
3. Responsibility.
4. Respect to the laws & rules.
5. Respect to the rights of other citizens.
6. Work loving.
7. Strive for saving & investment.
8. Will of super action.
9. Punctuality.
In poor countries, only a minority follow these basic principles in their daily life. We are not poor because we lack natural resources or because nature was cruel to us. We are poor because we lack attitude. We lack the will to comply with and teach these functional principles of rich & developed societies.
For individuals, the principle is the same. If you want to become rich, you need to have the above 9 qualities. You need to love to take actions and not afraid of failure. To succeed, you must be willing to sacrifice. Have a dream and goal and work towards it.
To reflect and... Act.
The difference between the poor countries and the rich ones is not the age of the country.
This can be shown by countries like India & Egypt, that are more than 2000 years old and are poor.
On the other hand, Canada, Australia & New Zealand, that 150 years ago were inexpressive, today are developed countries and are rich.
The difference between poor & rich countries does not reside in the available natural resources.Japan has a limited territory, 80% mountainous, inadequate for agriculture & cattle raising, but it is the second world economy. The country is like an immense floating factory, importing raw material from the whole world and exporting manufactured products.
Another example is Switzerland, which does not plant cocoa but has the best chocolate of the world.
In its little territory they raise animals and plant the soil during 4 months per year. Not enough, they produce dairy products of the best quality. It is a small country that transmits an image of security, order & labor, which made it the world’s strong safe.
Executives from rich countries who communicate with their counterparts in poor countries show that there is no significant intellectual difference. Race or skin color are also not important: immigrants labeled lazy in their countries of origin are the productive power in rich European countries.
What is the difference then?
The difference is the attitude of the people, framed along the years by the education & the culture. On analyzing the behavior of the people in rich & developed countries, we find that the
great majority follow the following principles in their lives:
1. Ethics, as a basic principle.
2. Integrity.
3. Responsibility.
4. Respect to the laws & rules.
5. Respect to the rights of other citizens.
6. Work loving.
7. Strive for saving & investment.
8. Will of super action.
9. Punctuality.
In poor countries, only a minority follow these basic principles in their daily life. We are not poor because we lack natural resources or because nature was cruel to us. We are poor because we lack attitude. We lack the will to comply with and teach these functional principles of rich & developed societies.
For individuals, the principle is the same. If you want to become rich, you need to have the above 9 qualities. You need to love to take actions and not afraid of failure. To succeed, you must be willing to sacrifice. Have a dream and goal and work towards it.
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