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Entries from September 2007

Speech by Bill Gates on Harvard Commencement

September 30th, 2007

Tags: Life Skills · People Profile

some speeches are really worth it… like this one…

June 7, 2007

President Bok, former President Rudenstine, incoming President Faust, members of the Harvard Corporation and the Board of Overseers, members of the faculty, parents, and especially, the graduates:

I’ve been waiting more than 30 years to say this: “Dad, I always told you I’d come back and get my degree.”

I want to thank Harvard for this timely honor. I’ll be changing my job next year … and it will be nice to finally have a college degree on my resume.

I applaud the graduates today for taking a much more direct route to your degrees. For my part, I’m just happy that the Crimson has called me “Harvard’s most successful dropout.” I guess that makes me valedictorian of my own special class … I did the best of everyone who failed.

But I also want to be recognized as the guy who got Steve Ballmer to drop out of business school. I’m a bad influence. That’s why I was invited to speak at your graduation. If I had spoken at your orientation, fewer of you might be here today.

Harvard was just a phenomenal experience for me. Academic life was fascinating. I used to sit in on lots of classes I hadn’t even signed up for. And dorm life was terrific. I lived up at Radcliffe, in Currier House. There were always lots of people in my dorm room late at night discussing things, because everyone knew I didn’t worry about getting up in the morning. That’s how I came to be the leader of the anti-social group. We clung to each other as a way of validating our rejection of all those social people.

Radcliffe was a great place to live. There were more women up there, and most of the guys were science-math types. That combination offered me the best odds, if you know what I mean. This is where I learned the sad lesson that improving your odds doesn’t guarantee success.

One of my biggest memories of Harvard came in January 1975, when I made a call from Currier House to a company in Albuquerque that had begun making the world’s first personal computers. I offered to sell them software.

I worried that they would realize I was just a student in a dorm and hang up on me. Instead they said: “We’re not quite ready, come see us in a month,” which was a good thing, because we hadn’t written the software yet. From that moment, I worked day and night on this little extra credit project that marked the end of my college education and the beginning of a remarkable journey with Microsoft.

What I remember above all about Harvard was being in the midst of so much energy and intelligence. It could be exhilarating, intimidating, sometimes even discouraging, but always challenging. It was an amazing privilege – and though I left early, I was transformed by my years at Harvard, the friendships I made, and the ideas I worked on.

But taking a serious look back … I do have one big regret.

I left Harvard with no real awareness of the awful inequities in the world — the appalling disparities of health, and wealth, and opportunity that condemn millions of people to lives of despair.

I learned a lot here at Harvard about new ideas in economics and politics. I got great exposure to the advances being made in the sciences.

But humanity’s greatest advances are not in its discoveries – but in how those discoveries are applied to reduce inequity. Whether through democracy, strong public education, quality health care, or broad economic opportunity – reducing inequity is the highest human achievement.

I left campus knowing little about the millions of young people cheated out of educational opportunities here in this country. And I knew nothing about the millions of people living in unspeakable poverty and disease in developing countries.

It took me decades to find out.

You graduates came to Harvard at a different time. You know more about the world’s inequities than the classes that came before. In your years here, I hope you’ve had a chance to think about how – in this age of accelerating technology – we can finally take on these inequities, and we can solve them.

Imagine, just for the sake of discussion, that you had a few hours a week and a few dollars a month to donate to a cause – and you wanted to spend that time and money where it would have the greatest impact in saving and improving lives. Where would you spend it?

For Melinda and for me, the challenge is the same: how can we do the most good for the greatest number with the resources we have.

During our discussions on this question, Melinda and I read an article about the millions of children who were dying every year in poor countries from diseases that we had long ago made harmless in this country. Measles, malaria, pneumonia, hepatitis B, yellow fever. One disease I had never even heard of, rotavirus, was killing half a million kids each year – none of them in the United States.

We were shocked. We had just assumed that if millions of children were dying and they could be saved, the world would make it a priority to discover and deliver the medicines to save them. But it did not. For under a dollar, there were interventions that could save lives that just weren’t being delivered.

If you believe that every life has equal value, it’s revolting to learn that some lives are seen as worth saving and others are not. We said to ourselves: “This can’t be true. But if it is true, it deserves to be the priority of our giving.”

So we began our work in the same way anyone here would begin it. We asked: “How could the world let these children die?”

The answer is simple, and harsh. The market did not reward saving the lives of these children, and governments did not subsidize it. So the children died because their mothers and their fathers had no power in the market and no voice in the system.

But you and I have both.

We can make market forces work better for the poor if we can develop a more creative capitalism – if we can stretch the reach of market forces so that more people can make a profit, or at least make a living, serving people who are suffering from the worst inequities. We also can press governments around the world to spend taxpayer money in ways that better reflect the values of the people who pay the taxes.

If we can find approaches that meet the needs of the poor in ways that generate profits for business and votes for politicians, we will have found a sustainable way to reduce inequity in the world.

This task is open-ended. It can never be finished. But a conscious effort to answer this challenge will change the world.

I am optimistic that we can do this, but I talk to skeptics who claim there is no hope. They say: “Inequity has been with us since the beginning, and will be with us till the end – because people just … don’t … care.”

I completely disagree.

I believe we have more caring than we know what to do with.

All of us here in this Yard, at one time or another, have seen human tragedies that broke our hearts, and yet we did nothing — not because we didn’t care, but because we didn’t know what to do. If we had known how to help, we would have acted.

The barrier to change is not too little caring; it is too much complexity.

To turn caring into action, we need to see a problem, see a solution, and see the impact. But complexity blocks all three steps.

Even with the advent of the Internet and 24-hour news, it is still a complex enterprise to get people to truly see the problems. When an airplane crashes, officials immediately call a press conference. They promise to investigate, determine the cause, and prevent similar crashes in the future.

But if the officials were brutally honest, they would say: “Of all the people in the world who died today from preventable causes, one half of one percent of them were on this plane. We’re determined to do everything possible to solve the problem that took the lives of the one half of one percent.”

The bigger problem is not the plane crash, but the millions of preventable deaths.

We don’t read much about these deaths. The media covers what’s new – and millions of people dying is nothing new. So it stays in the background, where it’s easier to ignore. But even when we do see it or read about it, it’s difficult to keep our eyes on the problem. It’s hard to look at suffering if the situation is so complex that we don’t know how to help. And so we look away.

If we can really see a problem, which is the first step, we come to the second step: cutting through the complexity to find a solution.

Finding solutions is essential if we want to make the most of our caring. If we have clear and proven answers anytime an organization or individual asks “How can I help?,” then we can get action – and we can make sure that none of the caring in the world is wasted. But complexity makes it hard to mark a path of action for everyone who cares — and that makes it hard for their caring to matter.

Cutting through complexity to find a solution runs through four predictable stages: determine a goal, find the highest-leverage approach, discover the ideal technology for that approach, and in the meantime, make the smartest application of the technology that you already have — whether it’s something sophisticated, like a drug, or something simpler, like a bednet.

The AIDS epidemic offers an example. The broad goal, of course, is to end the disease. The highest-leverage approach is prevention. The ideal technology would be a vaccine that gives lifetime immunity with a single dose. So governments, drug companies, and foundations fund vaccine research. But their work is likely to take more than a decade, so in the meantime, we have to work with what we have in hand – and the best prevention approach we have now is getting people to avoid risky behavior.

Pursuing that goal starts the four-step cycle again. This is the pattern. The crucial thing is to never stop thinking and working – and never do what we did with malaria and tuberculosis in the 20th century – which is to surrender to complexity and quit.

The final step – after seeing the problem and finding an approach – is to measure the impact of your work and share your successes and failures so that others learn from your efforts.

You have to have the statistics, of course. You have to be able to show that a program is vaccinating millions more children. You have to be able to show a decline in the number of children dying from these diseases. This is essential not just to improve the program, but also to help draw more investment from business and government.

But if you want to inspire people to participate, you have to show more than numbers; you have to convey the human impact of the work – so people can feel what saving a life means to the families affected.

I remember going to Davos some years back and sitting on a global health panel that was discussing ways to save millions of lives. Millions! Think of the thrill of saving just one person’s life – then multiply that by millions. … Yet this was the most boring panel I’ve ever been on – ever. So boring even I couldn’t bear it.

What made that experience especially striking was that I had just come from an event where we were introducing version 13 of some piece of software, and we had people jumping and shouting with excitement. I love getting people excited about software – but why can’t we generate even more excitement for saving lives?

You can’t get people excited unless you can help them see and feel the impact. And how you do that – is a complex question.

Still, I’m optimistic. Yes, inequity has been with us forever, but the new tools we have to cut through complexity have not been with us forever. They are new – they can help us make the most of our caring – and that’s why the future can be different from the past.

The defining and ongoing innovations of this age – biotechnology, the computer, the Internet – give us a chance we’ve never had before to end extreme poverty and end death from preventable disease.

Sixty years ago, George Marshall came to this commencement and announced a plan to assist the nations of post-war Europe. He said: “I think one difficulty is that the problem is one of such enormous complexity that the very mass of facts presented to the public by press and radio make it exceedingly difficult for the man in the street to reach a clear appraisement of the situation. It is virtually impossible at this distance to grasp at all the real significance of the situation.”

Thirty years after Marshall made his address, as my class graduated without me, technology was emerging that would make the world smaller, more open, more visible, less distant.

The emergence of low-cost personal computers gave rise to a powerful network that has transformed opportunities for learning and communicating.

The magical thing about this network is not just that it collapses distance and makes everyone your neighbor. It also dramatically increases the number of brilliant minds we can have working together on the same problem – and that scales up the rate of innovation to a staggering degree.

At the same time, for every person in the world who has access to this technology, five people don’t. That means many creative minds are left out of this discussion — smart people with practical intelligence and relevant experience who don’t have the technology to hone their talents or contribute their ideas to the world.

We need as many people as possible to have access to this technology, because these advances are triggering a revolution in what human beings can do for one another. They are making it possible not just for national governments, but for universities, corporations, smaller organizations, and even individuals to see problems, see approaches, and measure the impact of their efforts to address the hunger, poverty, and desperation George Marshall spoke of 60 years ago.

Members of the Harvard Family: Here in the Yard is one of the great collections of intellectual talent in the world.

What for?

There is no question that the faculty, the alumni, the students, and the benefactors of Harvard have used their power to improve the lives of people here and around the world. But can we do more? Can Harvard dedicate its intellect to improving the lives of people who will never even hear its name?

Let me make a request of the deans and the professors – the intellectual leaders here at Harvard: As you hire new faculty, award tenure, review curriculum, and determine degree requirements, please ask yourselves:

Should our best minds be dedicated to solving our biggest problems?

Should Harvard encourage its faculty to take on the world’s worst inequities? Should Harvard students learn about the depth of global poverty … the prevalence of world hunger … the scarcity of clean water …the girls kept out of school … the children who die from diseases we can cure?

Should the world’s most privileged people learn about the lives of the world’s least privileged?

These are not rhetorical questions – you will answer with your policies.

My mother, who was filled with pride the day I was admitted here – never stopped pressing me to do more for others. A few days before my wedding, she hosted a bridal event, at which she read aloud a letter about marriage that she had written to Melinda. My mother was very ill with cancer at the time, but she saw one more opportunity to deliver her message, and at the close of the letter she said: “From those to whom much is given, much is expected.”

When you consider what those of us here in this Yard have been given – in talent, privilege, and opportunity – there is almost no limit to what the world has a right to expect from us.

In line with the promise of this age, I want to exhort each of the graduates here to take on an issue – a complex problem, a deep inequity, and become a specialist on it. If you make it the focus of your career, that would be phenomenal. But you don’t have to do that to make an impact. For a few hours every week, you can use the growing power of the Internet to get informed, find others with the same interests, see the barriers, and find ways to cut through them.

Don’t let complexity stop you. Be activists. Take on the big inequities. It will be one of the great experiences of your lives.

You graduates are coming of age in an amazing time. As you leave Harvard, you have technology that members of my class never had. You have awareness of global inequity, which we did not have. And with that awareness, you likely also have an informed conscience that will torment you if you abandon these people whose lives you could change with very little effort.

You have more than we had; you must start sooner, and carry on longer.

Knowing what you know, how could you not?

And I hope you will come back here to Harvard 30 years from now and reflect on what you have done with your talent and your energy. I hope you will judge yourselves not on your professional accomplishments alone, but also on how well you have addressed the world’s deepest inequities … on how well you treated people a world away who have nothing in common with you but their humanity.

Good luck

Identity and Violence by Amartya Sen

September 29th, 2007

Tags: Book Reviews · Culture and Society · Religion and Philosophy

Book Title: Identity and Violence – The Illusion of Destiny
Author: Amartya Sen
About the Author: 1998 Economics Nobel Laureate
Year written/published: 2006
Book Source: Library, Amazon
My Comments: Great insight!
Contents page:

  1.  The Violence of Illusion
  2. Making Sense of Identity
  3. Civilisational Confinement
  4. Religious Affiliations and Muslim History
  5. West and Anti-West
  6. Culture and Captivity
  7. Globalisation and Voice
  8. Multiculturism and Freedom
  9. Freedom to Think

Some extracts:

How similar are we all…

Oscar Wilde made the enigmatic claim, “Most people are other people”… … defended his view with considerable cogency: “Their thoughts are someone else’s opinions, their lives a mimicry, their passions a quotation.” We are indeed influenced to an amazing extent by people with whom we identify. Actively promoted sectarian hatreds can spread like wildfire… … … With suitable instigation, a fostered sense of identity with one group of people can be made into powerful weapon to brutalise another.

Religions…

Increasing reliance of religion-based classification of the people opf the world also tends to made the Western response to global terrorism and conflict peculiarly ham-handed. Respect for “other people” is shown by praising their religious books, rather than by taking note of the many-sided involvements and achievements, in nonreligious as well as religious fields, of different people in a globally interactive world.

Conflicts…

The conflict between the priorities and demands of different identities can be significant both for contrasting and more non-contrasting categories. It is not so much that a person has to deny one identity to give priority to another, but rather that a person with plural identities has to decide, in case of conflict, on a relative importance of the different identities for the particular decision in question. Reasoning and scrutiny can thus play a major role both in the specification of identities and in thinking through the relative strengths of their respective claims.

Global roots of democracy

Similarly, democracy is often seen as a quintessentially Western idea which is alien to the non-western world. That civilisational simplification has received some encouragement by the US led coalition in establishing a democratic system of government in Iraq.

Schools, reasoning and faith

Rather than reducing existing state0financed faith based schools, actually adding other to them – Muslims schools, Hindu schools, the Sikh schools to pre-existing Christian ones 0 can have the effect of reducing the role of reasoning which the children may have the opportunity to cultivate and use. And this is happening at a time when there is a great need for broadening the horizon of understanding of other people and other groups, and when the ability to undertake reason decision making is of particular importance.

Buffettology by Mary Buffet & David Clark

September 28th, 2007

Tags: Book Reviews · Business & Finance

Book Title: Buffettology – The previously unexplained techniques that have made Warren Buffett the World’s most Famous Investor
Authors: Mary Buffet & David Clark
Year written/published: 1997
Book Source: Library, Amazon
Summary: Investing strategies of Warren Buffet explained by his former daughter-in-law, Mary Buffet.
My Comments: Another excellent book from Mary buffet and David Clark, a companion of the workbook edition.
Some extracts:

Warren’s secret for success investing from a business perspective…

  1. Warren will invest long-term only in companies whose future earnings he can reasonably predict
  2. Warren has found that the kind of company who se earnings he can reasonably predict generally has excellent business economics working in its favour.
  3. These excellent business economics are usually made evident by consistently high returns on shareholder’s equity, strong earnings, the presence of what warren calls a consumer monopoly, and management that functions with the shareholders’ economic interests in mind.
  4. The price you pay for a security will determine the return you can expect on you investment.
  5. Warren, unlike other investment professionals, chooses the kind of business he would like to be in and then let the price of the security and thus his expected rate of return, determine the buy decision.
  6. Warren has figured out that investing at the right prices in certain businesses with exceptional economics working in their favour will produce over the long term an annual compounding rate of return of 15% or better.

Warren Buffet’s investment philosophy from…

  1. Benjamin Graham
  2. Philip Fisher
  3. Lawrence N. Bloomberg
  4. John Burr Williams
  5. Lord John Maynard Keynes
  6. Edgar Smith
  7. Charlie Munger

How and why politics and businesses mix…

As corporations became more and more powerful, they started to usurp the power of the kingdoms. Thus, kings soon realised that it was in their best interest to limit the power of organised capital; they created laws that forbade the organisation of joint stock companies without the approval of the crown. Early examples of crown-approved joint-stock companies are the East India Company and the Hudson’s Bay Company, both with colourful and fascinating histories.

Inflation…

When the government spends more money, business benefits – lots of big government contracts and lots of people making more money. The merchant who was pricing the eggs at $1 for a dozen one day notices that people suddenly have more money to spend and are much more willing to pay higher prices for his eggs…. … …  The problem is that all prices rise to reflect the increase in the abundance of cash.

Effects of taxation and inflation of the rate of return..

Warren has often stated that real-world inflation and taxation greatly alter the investor’s return. He argues that if we live in a world of 5% inflation, our assets decrease in real purchasing power by 5% every year. For this very reason we invest our money. If we didn’t., our wealth, held in cash soon would lose its purchasing power…. … taxation adds another perspective to the situation. If we manage to obtain a 5%n return on our money, income taxes can take 31% of that 5%, which means that we will be left with a real return of 3.45%.

Focus portfolio…

Warren has adopted the concentrated –portfolio approach, which means that h holds a small number of investments he really understands and intends holding for a long period of time. This allows the question of whether to allocate capital to an investment to be approached with the utmost approach. Warren believes that it is the seriousness with which he addresses the questions of what to invest in and at what price that decreases the risk. It is his commitment to the strategy of investing only in exceptional businesses at prices that make business sense that reduces his chance for loss.

Map of Plate Tectonics

September 27th, 2007

Tags: Science · Time and Place

with the recent series of earthquakes, i decided to refresh my memory about the plate tectonics and the boundaries of these plates on the surface of the earth…

picture credit

and some links about what a plate tectonic is all about…

Earth’s crust is constantly being reshaped from the time of Pangea… and here’s an interesting animation showing it and of course google earth animation can too!!

Unsolved Maths problems

September 26th, 2007

Tags: Science

I thought this list in Wiki is rather interesting… it has the list of unsolved problems in mathematics and some problems include…

some of these are really easy to understand especially the ones under number theory, but nobody has been able to prove them!

G8 Countries

September 25th, 2007

Tags: Business & Finance · Culture and Society

the G8 countries include…

  1. Canada
  2. France
  3. Germany
  4. Italy
  5. Japan
  6. Russia
  7. United Kingdom
  8. United States

Nick Vujicic – an inspiration

September 24th, 2007

Tags: People Profile

inspirations are all around us… like that of Nick, a jolly good fellow who lives life to the fullest despite having no arms and legs…

A tribute to him! truly an inspiration! A video depicting that….

Open Office

September 23rd, 2007

Tags: Current Technology

I was trying out the Open Office softwares. It basically consists of…

  1. Writer is basically a word processor like MS Word
  2. Impress can be used for multimedia presentations like MS Powerpoint
  3. Calc is Spreadsheet programn like MS Excel
  4. Draw is a graphics manipulation program
  5. Base is for manipulating databases

A future substitute for MS office in the future??

How to Get Rich by Donald Trump

September 22nd, 2007

Tags: Book Reviews · Business & Finance · Life Skills

Book Title: How to get Rich – The Secrets of Business Success from the star of the Apprentice
Author: Donald J. Trump
Year written/published: 2004
Book Source: Amazon, Library
My Comments: Donald Trump is becoming one of my fav authors… his bang bang bang words, the fast pace of this written words and the energy can be felt right through even when you are reading his book in the quietness of your bedroom. In short… read his books. PERIOD.
Contents page:

  1. Donald J. Trump School of Business and Management
  2. Your Personal Apprenticeship
  3. Money, money, money, money
  4. Secrets of Negotiation
  5. Trump Lifestyle
  6. Inside the Apprentice

Some extracts:

His lowest point when he had a debt of 9.2 billion!

I’ll never forget the worst moment. It was 3am Citibank phoned me at my home in Trump Tower. They wanted me to come over to their office immediately to negotiate new terms with some of the foreign banks – 3 out of 99 banks to whom I owed billions. … … An ally at Citibank suggested that the best way for me to handle this difficult situation was to call the banks myself, and that’s exactly what they wanted me to do, at 3am on a cold January morning in the freezing rain. There were no cabs, so I walked in the freezing rain. By the time I got there, I was drenched. … That was the low point. There were 30 bankers sitting around a big table.

Maintaining your momentum….

No matter how accomplished you are, no matter how well you think you know your business, you have to remain vigilant about the details of your field. You can’t get by on experience or smarts. … … no matter what you’re managing, don’t assume you can glide by. Momentum is something you have to work at to maintain.

Ask yourself 2 questions…

  1. Is there anyone else who can do this better than I can?
  2. What am I pretending not to see?

Learning each day….

Everyday is a reminder to me of how much I don’t know. Everything I learn leads me to something else I didn’t know. Fortunately, I don’t pride myself on being a know-it-all, so everyday becomes a new challenge. People ask me what keeps me going, and this is probably the closest answer to the truth. I I end the day without knowing more than I did when I woke up, it makes me wonder what did I miss out on today? Am I getting lazy? I am a disciplined person, and this thought alone can get me going.

Cover these 11 bases… the art of public speaking…

  • Be a good story teller
  • Think about the common denominator
  • When you are on the podium, you are the entertainer
  • Study Regis Philbin
  • Be able to poke fun at yourself
  • Learn to think on your feet
  • Listen in you daily life
  • Have a good time

And more…

  1. Think about your audiences
  2. Get your audiences involved
  3. Be prepared
  4. be a good storyteller
  5. be aware of the common denominator
  6. be an entertainer
  7. be able to laugh at yourself
  8. think on your feet
  9. listen
  10. have a good time
  11. study Regis Philbin

Reflect for 3 hours a day…

It made me realize how much I need a certain amount of quiet time – usually about 3 hours a day – in order to stay balanced. It’s the time I use to read and reflect, and I always feel renewed and refreshed by this. It also gives me a material to feed my extroverted nature. … … once I’m home, I read books – usually biographies. Now and then I like to read philosophies – particularly Socrates, who emphasizes that you should follow the convictions of your conscience, which basically means thinking for yourself, a philosophy I tend to agree with.

4 qualities I’m looking for in an apprentice…

  1. An outstanding personality
  2. Brains
  3. Creativity
  4. Loyalty and trust

The winners…

Stay with the winners. Often, you will read about somebody who has made money quickly and then relies on one of his friends to invest his fortune. … …  Beware of instant stars in the world of finance. Trust people who do it again and again, who are consistently ranked high by the 4 best institutional business media outlets. But trust your own common sense first.

Know exactly what you want and keep it to yourself…

If you’re careful about what you reveal, you’ll have more flexibility as you gather more information about the contours of the deal. … know what you want, bottom line, but keep it to yourself until a strategically necessary moment. Once all of the issues are on the table, you’ll have a better approach to navigating your way to your desired solution.

Sometimes you have to hold a grudge… Trump is really such a blunt and frank guy…

I did the only thing that felt right for me. I began screaming, “you son of a bitch! For years I’ve helped you and never asked for a thing… … … You can go to hell.” My screaming was so loud that 2 or 3 people came in from the adjoining offices and asked who I was screaming at. I told them it was Mario Cuomo, a total stiff, a lousy governor, and a disloyal former friend. Now whenever I see Mario at dinner, I refuse to acknowledge him, talk to him, or even look at him. I will say this however. Mario’s wife is a fine woman and was a terrific friend to my mother. It’s not her fault that her husband is a loser.

Meetings…

Our meetings are relatively brief… They are rarely more than 2 hours. My team knows the value of time and exactly how not to waste it. People often comment on the brevity of my meetings, but if everyone knows what they are doing, they don’t need to belong or long-winded. Fortunately, I have experienced people on my teams, and they know how I operate, so they get to the point and quickly.

Busy weekend…

Last year I took a transatlantic weekend business trip that included breakfast in London with Mohamed Al Fayed and dinner in Slovenia with Melania’s parents before flying back to New York. We were back in time for me to be in the office by 9am Monday.

how to read more books

September 21st, 2007

Tags: Life Skills · Music and Arts

i found this article basically summarises how to read 70+ books in a year. I found it really true especially step 2 and step 4 where i basically read only when i’m travelling for the 2+ hours each day. Here are the steps…

  1. Learn to Speed Read
  2. Always Have a Book
  3. One Book at a Time
  4. Fill Gap Time With Reading
  5. Cut the Television and Web-Surfing
  6. Keep a To-Read List

20 money rules

September 20th, 2007

Tags: Business & Finance

i thought this article is really well-written.. 20 Timeless Money Rule from CNN and they are…

  1. Be humble
  2. Take calculated risks
  3. Have an emergency fund
  4. Mix it up
  5. It’s the portfolio, stupid
  6. Average is the new best
  7. Practice patience
  8. Don’t time the market
  9. Be a cheapskate
  10. Don’t follow the crowd
  11. Buy low
  12. Invest abroad
  13. Keep perspective
  14. Just do it
  15. Borrow responsibly
  16. Talk to your spouse
  17. Exit gracefully
  18. Pay only your share
  19. Give wisely
  20. Keep money in its place

Multi roles of Theodore Roosevelt

September 19th, 2007

Tags: People Profile

I saw this cartoon depicting the many roles that Roosevelt had played in his lifetime… amzing isn’t it!

[link for cartoon 1 and cartoon 2]

Picture of Dorian Gray by Oscar Wilde

September 18th, 2007

Tags: Book Reviews · Music and Arts

Book Title: The Picture of Dorian Gray
Author: Oscar Wilde
Year written/published: 1890
Book Source: Gutenberg
Summary: Basil, an artist paints a beautiful boy named Dorian Gray and Henry influences the innocent Dorian Gray into evil ways… and Dorian notices how his painting changes over the years. [Spoiler here ]
My Comments: Great work by Oscar Wilde… it was a bit of abstract for me thought, but the language was superb. I realised that i seldom read fiction, hence this is my first attempt at writing a review for a fiction book minus the spoilers.
Some extracts:

Basil creates an art of a man called Dorian Gray…

“Dorian Gray? Is that his name?” asked Lord Henry, walking across the studio towards Basil Hallward.
“Yes, that is his name. I didn’t intend to tell it to you.”
“But why not?”
“Oh, I can’t explain. When I like people immensely, I never tell their names to any one. It is like surrendering a part of them. I have grown to love secrecy. It seems to be the one thing that can make modern life mysterious or marvellous to us. The commonest thing is delightful if one only hides it. When I leave town now I never tell my people where I am going. If I did, I would lose all my pleasure. It is a silly habit, I dare say, but somehow it seems to bring a great deal of romance into one’s life. I suppose you think me awfully foolish about it?”

Basil doesn’t want to exhibit Dorian Gray…

“Well, I will tell you what it is. I want you to explain to me why you won’t exhibit Dorian Gray’s picture. I want the real reason.”
“I told you the real reason.”
“No, you did not. You said it was because there was too much of yourself in it. Now, that is childish.”
“Harry,” said Basil Hallward, looking him straight in the face, “every portrait that is painted with feeling is a portrait of the artist, not of the sitter. The sitter is merely the accident, the occasion. It is not he who is revealed by the painter; it is rather the painter who, on the coloured canvas, reveals himself. The reason I will not exhibit this picture is that I am afraid that I have shown in it the secret of my own soul.”

lord henry and Dorian Gray meets…

Lord Henry looked at him. Yes, he was certainly wonderfully handsome, with his finely curved scarlet lips, his frank blue eyes, his crisp gold hair. There was something in his face that made one trust him at once. All the candour of youth was there, as well as all youth’s passionate purity. One felt that he had kept himself unspotted from the world. No wonder Basil Hallward worshipped him.

influence…

“There is no such thing as a good influence, Mr. Gray. All influence is immoral—immoral from the scientific point of view.”
“Why?”
“Because to influence a person is to give him one’s own soul. He does not think his natural
thoughts, or burn with his natural passions. His virtues are not real to him. His sins, if there are such things as sins, are borrowed. He becomes an echo of some one else’s music, an actor of a part that has not been written for him. The aim of life is self-development. To realize one’s nature perfectly—that is what each of us is here for? People are afraid of themselves, nowadays. They have forgotten the highest of all duties, the duty that one owes to one’s self.
“Yes,” continued Lord Henry, “that is one of the great secrets of life— to cure the soul by means of the senses, and the senses by means of the soul. You are a wonderful creation. You know more than you think you know, just as you know less than you want to know.”

beauty…

People say sometimes that beauty is only superficial. That may be so, but at least it is not so superficial as thought is. To me, beauty is the wonder of wonders. It is only shallow people who do not judge by appearances. The true mystery of the world is the visible, not the invisible. . .

a subject…

It was clear to him that the experimental method was the only method by which one could arrive at any scientific analysis of the passions; and certainly Dorian Gray was a subject made to his hand, and seemed to promise rich and fruitful results. His sudden mad love for Sibyl Vane was a psychological phenomenon of no small interest. There was no doubt that curiosity had much to do with it, curiosity and the desire for new experiences, yet it was not a simple, but rather a very complex passion. What there was in it of the purely sensuous instinct of boyhood had been transformed by the workings of the imagination, changed into something that seemed to the lad himself to be remote from sense, and was for that very reason all the more dangerous.

Dorian Gray is in love with Sybl Vane, a young actress…

I hope that Dorian Gray will make this girl his wife, passionately adore her for six months, and then suddenly become fascinated by some one else. He would be a wonderful study.”
“You don’t mean a single word of all that, Harry; you know you don’t. If Dorian Gray’s life were spoiled, no one would be sorrier than yourself. You are much better than you pretend to be.”
Lord Henry laughed. “The reason we all like to think so well of others is that we are all afraid for ourselves. The basis of optimism is sheer terror. We think that we are generous because we credit our neighbour with the possession of those virtues that are likely to be a benefit to us. We praise the banker that we may overdraw our account, and find good qualities in the highwayman in the hope that he may spare our pockets. I mean everything that I have said. I have the greatest contempt for optimism. As for a spoiled life, no life is spoiled but one whose growth is arrested. If you want to mar a nature, you have merely to reform it. As for marriage, of course that would be silly, but there are other and more interesting bonds between men and women. I will certainly encourage them. They have the charm of being fashionable. But here is Dorian himself. He will tell you more than I can.”

Dorian’s evil thinking… 

“What has the actual lapse of time got to do with it? It is only shallow people who require years to get rid of an emotion. A man who is master of himself can end a sorrow as easily as he can invent a pleasure. I don’t want to be at the mercy of my emotions. I want to use them, to enjoy them, and to dominate them.”
“Dorian, this is horrible! Something has changed you completely. You look exactly the same wonderful boy who, day after day, used to come down to my studio to sit for his picture. But you were simple, natural, and affectionate then. You were the most unspoiled creature in the whole world. Now, I don’t know what has come over you. You talk as if you had no heart, no pity in you. It is all Harry’s influence. I see that.”

Dorian Gray’s realisation…

“Years ago, when I was a boy,” said Dorian Gray, crushing the flower in his hand, “you met me, flattered me, and taught me to be vain of my good looks. One day you introduced me to a friend of yours, who explained to me the wonder of youth, and you finished a portrait of me that revealed to me the wonder of beauty. In a mad moment that, even now, I don’t know whether I regret or not, I made a wish, perhaps you would call it a prayer. . . .”
“I remember it! Oh, how well I remember it! No! the thing is impossible. The room is damp. Mildew has got into the canvas. The paints I used had some wretched mineral poison in them. I tell you the thing is impossible.” “Ah, what is impossible?” murmured the young man, going over to the window and leaning his forehead against the cold, mist-stained glass.
“You told me you had destroyed it.”
“I was wrong. It has destroyed me.”
“I don’t believe it is my picture.”
“Can’t you see your ideal in it?” said Dorian bitterly.

Braindancing by Dilip Mukerjea

September 17th, 2007

Tags: Book Reviews · Life Skills

Book Title:Braindancing – brain blazing practical techniques in creativity for immediate application
Author: Dilip Mukerjea
Year written/published: 1998
Book Source: Library
Summary: Various techniques for playing with our mind in imagination and on paper
My Comments:  it’s a fun book! Especially i loved the historical examples he provided… which i quoted them below.
Some extracts:

Creativity Quotient…

Curiosity, Flexibility, Resourcefulness, Challenging, Trendspotting, Proactivity, Openness, Self-Belief, Vision/Goals, Intuition, Simplifying, Risk-taking

most of the greatest developments in our lives emerged from the minds of people who were not specialists in those disciplines…

  • Wright brothers pioneers the first airplane, but they were bicycle mechanics
  • A journalist invested the parking meter
  • an undertaker developed the automatic telephone
  • a television engineers developed the long-playing record
  • a veterinarian developed pneumatic tyre
  • a sculptor invented ballpoint pen
  • a musician developed Kudachrome film
  • a painter developed Morse Code

metamorphical thinking can make beautiful connections between seemingly unrelated things…

  • Michael Faraday imagined electricity to be like a flowing fluid
  • DNA molecules were pictures by Watson and Crick as a spiral staircase, able to split into 2 rungs and reconnect
  • Neils Bohr, conceived the atom as a miniature solar system with electrons orbiting around the central nucleus
  • simple fire pump gave william harvey the notion of how the heart works
  • Humming bird with its ability to hover and fly backwards inspired the invention of helicopter

When in a state on creative mental block, look to the nature for inspiration …

  • bu observing a shipworm tunneling through timber, Sir Marc Brunel solved the problem of underwater construction of tunnel
  • da Vince was truly prolific ion observing nature. Studying natural life in minute detail, he then transformed his observations into a deluge of inventions, real and virtual
  • human eye provided the inspiration for the modern automatic focus and exposure cameras
  • military for the idea of camouflage from creatures in the wild who used this scheme as an act of concealment from predators
  • fish’s swim bladder inspired the design of the submarine’s usage of the underwater ballast

and lastly… an astonishing account of time… in our lifetime on average we spend

  • 5 years standing in line
  • one year looking for misplaced objects
  • 8 months opening direct mails
  • 2 years returning calls
  • 25 years sleeping
  • 6 years sleeping
  • 4 years doing chores

Autobiography of Theodore Roosevelt

September 16th, 2007

Tags: Book Reviews · People Profile

Book Title: Theodore Roosevelt
Author: Theodore Roosevelt
Year written/published: 1898
Book Source: Gutenberg
Summary: Roosevelt wrote autobiography about his life and observations.
My Comments: I have always wanted to have a glimpse into the life of this great man. It was indeed an insightful reading through his auto bioragphy written in his own words.
Some extracts: 

Intro…

It seems to me that, for the nation as for the individual, what is most important is to insist on the vital need of combining certain sets of qualities, which separately are common enough, and, alas, useless enough. Practical efficiency is common, and lofty idealism not uncommon; it is the combination which is necessary, and the combination is rare. Love of peace is common among weak, short-sighted, timid, and lazy persons; and on the other hand courage is found among many men of evil temper and bad character. Neither quality shall by itself avail. Justice among the nations of mankind, and the uplifting of humanity, can be brought about only by those strong and daring men who with wisdom love peace, but who love righteousness more than peace. Facing the immense complexity of modern social and industrial conditions, there is need to use freely and unhesitatingly the collective power of all of us; and yet no exercise of collective power will ever avail if the average individual does not keep his or her sense of personal duty, initiative, and responsibility.

His childhood Christmas…

Christmas was an occasion of literally delirious joy. In the evening we hung up our stockings—or rather the biggest stockings we could borrow from the grown-ups—and before dawn we trooped in to open them while sitting on father’s and mother’s bed; and the bigger presents were arranged, those for each child on its own table, in the drawing-room, the doors to which were thrown open after breakfast. I never knew any one else have what seemed to me such attractive Christmases, and in the next generation I tried to reproduce them exactly for my own children.

His ambition of becoming a zoologist

While still a small boy I began to take an interest in natural history. I remember distinctly the first day that I started on my career as zoologist.

On Children’s Books…

I think there ought to be children’s books. I think that the child will like grown-up books also, and I do not believe a child’s book is really good unless grown-ups get something out of it. For instance, there is a book I did not have when I was a child because it was not written.

On the value of debating…

Personally I have not the slightest sympathy with debating contests in which each side is arbitrarily assigned a given proposition and told to maintain it without the least reference to whether those maintaining it believe in it or not. I know that under our system this is necessary for lawyers, but I emphatically disbelieve in it as regards general discussion of political, social, and industrial matters. What we need is to turn out of our colleges young men with ardent convictions on the side of the right; not young men who can make a good argument for either right or wrong as their interest bids them.

Roosevelt, the hunter….

I have shot only five kinds of animals which can fairly be called dangerous game—that is, the lion, elephant, rhinoceros, and buffalo in Africa, and the big grizzly bear a quarter of a century ago in the Rockies. .. …. On the whole, I think the lion the most dangerous of all these five animals; that is, I think that, if fairly hunted, there is a larger percentage of hunters killed or mauled for a given number of lions killed than for a given number of any one of the other animals. Yet I personally had no difficulties with lions. I twice killed lions which were at bay and just starting to charge, and I killed a heavy-manned male while it was in full charge.

Success – big and small…

There are two kinds of success, or rather two kinds of ability displayed in the achievement of success. There is, first, the success either in big things or small things which comes to the man who has in him the natural power to do what no one else can do, and what no amount of training, no perseverance or will power, will enable any ordinary man to do. … … I need hardly say that all the successes I have ever won have been of the second type. I never won anything without hard labor and the exercise of my best judgment and careful planning and working long in advance. Having been a rather sickly and awkward boy, I was as a young man at first both nervous and distrustful of my own prowess. I had to train myself painfully and laboriously not merely as regards my body but as regards my soul and spirit.

Politics as the only career?

Almost immediately after leaving Harvard in 1880 I began to take an interest in politics. I did not then believe, and I do not now believe, that any man should ever attempt to make politics his only career. It is a dreadful misfortune for a man to grow to feel that his whole livelihood and whole happiness depend upon his staying in office. Such a feeling prevents him from being of real service to the people while in office, and always puts him under the heaviest strain of pressure to barter his convictions for the sake of holding office. A man should have some other occupation—I had several other occupations—to which he can resort if at any time he is thrown out of office, or if at any time he finds it necessary to choose a course which will probably result in his being thrown out, unless he is willing to stay in at cost to his conscience.

Corruption in Legislature…

But three years’ experience convinced me, in the first place, that there were a great many thoroughly corrupt men in the Legislature, perhaps a third of the whole number; and, in the next place, that the honest men outnumbered the corrupt men, and that, if it were ever possible to get an issue of right and wrong put vividly and unmistakably before them in a way that would arrest their attention and that would arrest the attention of their constituents, we could count on the triumph of the right. The trouble was that in most cases the issue was confused. To read some kinds of literature one would come to the conclusion that the only corruption in legislative circles was in the form of bribery by corporations, and that the line was sharp between the honest man who was always voting against corporations and the dishonest man who was always bribed to vote for them.
  

NLP Coach by Ian McCermott and Wendy Jago

September 15th, 2007

Tags: Book Reviews · Life Skills

Book Title: The NLP Coach – A comprehensive guide to personal well-being and professional success
Authors:Ian McDermott & Wendy Jago
Year written/published: 2001
Book Source: Library, Amazon
Some extracts:

Some of the pioneers in NLP…

  1. Richard Bandler
  2. John Grindler
  3. Fritz Perls
  4. Virginia Satir
  5. Milton Erickson
  6. Robert Dilts
  7. Judith Delozier

Tools for the job…

  1. Anchor - any stimulus that changes your state
  2. Association and Dissociation- If you are associated you are into the experience and experiencing it in full. If you are dissociated at any given moment, you are dissociated from the experience and experiencing it at one remove, possibly seeing yourself from a distance.
  3. Behavioral Flexibility – is about having a range of ways to respond or to do something.
  4. Chunking - is the process of grouping items of information into larger and smaller units.
  5. Compelling Future- is a representation of a future state or experience which is so well realised and powerful that it has a compelling effect on you in the present. Many high achievers in sport and business have a really vivid idea in their minds of what it is they want to achieve.
  6. Contrastive Analysis- is the process of comparing and contrasting 2 things which have some elements in common, but which have different outcomes.
  7. Criteria and Criterial Equivalences
  8. Disney Creativity Strategy - is a strategy for developing your dreams and giving them the best possible chance of becoming reality. It’s named after Disney who often took on 3 distinct roles when his team was developing an idea : the dreamer, the realist, the critic.
  9. Ecology Check – the process of considering what effects a course of action may have before you actually do it.
  10. Eye-Accessing Cues
    Looking up and their right – imagining something visually
    Looking horizontally and to their right – imagining how something will sound
    Looking down and to their right – getting in touch with feelings
    Looking up and to their left – remembering visually
    Looking down and to their left - talking to oneself internally
  11. Framing - The frame highlights certain qualities of the picture as it sets boundaries of the image. eg. Problem frame, outcome frame, as-if frame
  12. Logical Levels – are a way of identifying underlying structures and patterns in thinking about ideas, events, relationships or organisations.
  13. Meta Model- shows how in order to make sense of our experience and the information coming to us, we tend to simplify it in 3 ways: deletion, generalisation and distortion
  14. Meta Programmes- are largely unconscious patterns of sorting information which are hugely influential because they affect what you notice, how you form your internal representations, and how you organise your experience and make information from it.
  15. Modelling -
  16. Outcome Orientation
  17. Pacing and Leading
  18. Taking different perceptual positions
  19. Rapport
  20. Reframing
  21. Representational Systems
  22. Sensor Acuity
  23. States
  24. Sub-modalities
    5 senses – seeing (V), hearing (A), feeling (K), Smell (O), Taste (G)

some common failure patterns…

  • being afraid of the unknown
  • spending a lot of time with people who just use a problem frame
  • presuming change is hard work
  • having unrealistic time frames for change
  • believing what you want can’t happen.
  • Always doubting your own competence
  • Taking ‘No’ for an answer
  • becoming cynical
  • keeping yourself under constant pressure
  • not letting yourself dream

people with true self-esteem, however famous they are, usually exhibit very different behaviours…

  1. they have quiet confidence
  2. they don’t fish for compliments
  3. they may be quite humble
  4. they recognise and are often interested in other people and their achievements
  5. they may not be bothered about receiving external recognition

Online Stock Market Investing by Alexander Davidson

September 14th, 2007

Tags: Book Reviews · Business & Finance

Book Title: The Complete Guide to Online Stock Market Investing – The Definitive 20-Day guide
Author: Alexander Davidson
Year written/published: 2002
Book Source: Amazon, Library
My Comments: This is a UK-based book on stock and investing online. It’s clearly sub-divided into days for easy learning.
Some extracts:

Some links…

choosing an online broker…

  1. Image
  2. Range of services
  3. Dealing Cost
  4. Price of Trade
  5. Research and News
  6. Level I and Level II data
  7. Smooth running and security
  8. Limit orders and stop losses
  9. Trading hours
  10. Paper Trading
  11. New equity issues

Weinberg’s way…

  1. Before you invest, have enough liquidity to sleep at nights and more
  2. Spread and diversify risks, which brings security
  3. Invest for long term. That way you won’t have to worry about what happened in the last 24 hours
  4. If you use money managers, use the best ones.

Financial Statements…

Income Statement records the company’s profits and losses, and how they were reached.
Balance Sheet is another key financial statement and it is best described as a snapshot of the company’s positions at a given time.
Cash Flow statement shows movements in cash and cash equivalents.

Some key terms…

  • Earnings per Share (EPS)
  • Price/earnings ratio
  • price/earnings growth ratio (PEG)
  • net asset value (NAV)
  • Gross yield
  • Dividend cover
  • Depreciation
  • Return on Capital Employed (ROCE)
  • Price/Sales Ratio (P/E)
  • Discounted Cash FLow (DCF)

Different kinds of Charts..

  • Line Chart
  • Bar CHart
  • Candlesticks
  • Point and Figure Chart

Using charts…

Resistance Level is the high point on a chart where the stock price has stopped rising, becasue investors will not buy further and sellers have emerged. At the other extreme, the Support level is where the investors have stopped selling. The more a aupport or resistance line is tested, the more effective it is considered. .. … Support and resistance often arise at around numnbers which, in the case of stocks are often 90p, 100p, 200p.

some continuation patterns…

  1. Flag
  2. Gap
  3. Pennant
  4. Rectangle
  5. Triangle
  6. Wedge

Reversal Patterns….

  1. Broadening formation
  2. double top or bottom
  3. head and sholders
  4. saucer or bottom

some technical indicators…

  1. Price – moving averages, moving average convergence divergence (MACD), Envelopes, Stop and Reversal Points (SARs)
  2. Volume – Accumulation/Distribution line
  3. Momentum - Relative Strength Index, Stochastics

Share trading…

  1. day trader – you close out your positions everyday, and so avoid the risk of holding shares overnight. You will make your profits form intraday market volatility
  2. swing trader – you hold shares for between 2 to 5 days which gives more times for success and for failure
  3. position trader – you hold shares for between 1 and 2 months, which gives you even more flexibility

general trading principles…

  • use limit orders
  • develop your own system
  • self-discipline and proportion
  • protect your trading capital
  • review your mistakes
  • be professional

Psychology of Risk by Ari Kiev

September 13th, 2007

Tags: Book Reviews · Business & Finance · Life Skills

Book Title: The Psychology of Risk – Mastering Market Uncertainty
Author: Ari Kiev
Year written/published: 2002
Book Source: Library, Amazon
My Comments: My first book in understanding what it takes to risks… and what are the common emotions associated with it. Risk analysis and the emotions attached to it are extremely important… couldn’t have found a better book on the workings of risk psychology. I need more books on similar topics to understand the psychology of risk a bit more!
Contents page:

  1. Essentials of Risk Taking
  2. The Problems of Risk
  3. Personalities of Risk
  4. Practise of Risk Taking

Some extracts:

when are we more willing to take risks?

Most traders are willing to accept risk in order to avoid a loss (eg. holding onto a losing position) and are more cautious when dealing with potential gains (eg. reluctant to add more to winning positions). In other words, a trader would be more willing to take a greater risk in an effort not to lose $500 than he would gain $500. Given this propensity, you might understand why a trader would stay in a losing position in hopes that the tide will turn. Known as Weber’s Law, this and many other principles of human behaviour highlight the importance of understanding the psychological under-pinnings of rick-taking.

risk taking…

Risk taking means the willingness to act outside the vicious circle of concept-dominated experiences without a guarantee of success or approval. It means being willing to live life as the risk it is and not in terms of the limiting notions of your own self-doubts.

To like at risk is to engage in activity spontaneously and naturally. The psychology of risk taking means being willing to commit yourself to living from a future vision without any certainty. It is a willingness to commit to our vision and create goals related to the vision, irrespective of the frightening inner voices that predict failure or ridicule. In the trading arena, it involved a willingness to commit to a specific financial objective and to focus in the present moment on the implementation of this strategy without obsessive concern with reaching the goal.

Risk taking does not mean exposing yourself to danger. It does mean acting beyond the vicious circle of what you already know – where past concepts colour perspective and experience. It does mean making decisions with incomplete information and before you have checked everything out with the experts. Risk taking means letting go of past habits and values that lock you into fixed ways of relating to the world, so as to trade with a new concept of what is possible.

Master trader is focused and he is always challenging himself to ask…

  1. What more do I need to know?
  2. What additional work can I do?
  3. What can I learn from my own emotional reactivity to the markets?
  4. How long should I hold the position?
  5. How fast should I get out?
  6. What kind of loss limit is tolerable?

defining risk…

  1. where did you get into the trade?
  2. where did you add?
  3. where did you get out, if you go out?
  4. was there anything about your trading style that was reflection in the way in which you traded that stock?
  5. Did you buy at the bottom and scale into it more as it moved upward? Or did you buy it at the bottom and get out fast as it was going up?
  6. Conversely, did you see it as opportunity to start shorting the stock prior to an anticipated inflection point, and did you get out after the inflection point as the stock was going down?
  7. What does your approach to the trade tell you about your general style of trading?

Master trader…

Mastery is the capacity to empty your mind of preconceptions about yourself and the market, to let go of your persona, your life principles, and other beliefs and limiting notions, so that you can more fully take risks in the here and now. Mastery is about telling the truth, about not being too egotistical about your success or too depressed about your losses.

… … Lennny who told me, “The master trader is listening to an aspect of events that others aren’t listening to. He is able to calculate the risk factor in terms of how many people are playing a particular story. This is an intangible skill. He has learned from trading the tape how a stock is moving. He can tell when there is positive money flow into a sector or changes in money flow and the impact this flow has on stocks. He can then question why the stock is moving and explore reasons for it in terms of events going on in the company. Then he integrates his theory with a view of the entire market and what is happening in other sectors.”

taking bigger risk requires these 4 elements…

  1. Creating an information edge so that you are ahead of the curve

  2. having a thesis that you can support with data

  3. Making an assessment of the source of the data

  4. Trading on the basis of this data against other data in the market place.

understanding the business model…

  • the nature of the business and the basic assumptions of the business
  • how the business intends to make money and finance growth
  • the competitive factors in the sector that make for a good or poor prognosis for growth and competitive power in the market place.

Coaching can be particularly useful in helping…

  • tap you hidden potential
  • stay on target
  • get past self-doubts
  • move into centre state
  • assume responsibility
  • stay committed to vision
  • give up control

other discussions…

  • the size of your portions
  • your profit and loss
  • how are you limiting yourself
  • what more you can do to improve
  • what’s missing from your trades?

conclusion…

The market is like a blank canvas on which you can create your vision. If you can take risks in the present moment without regard to your history and without regard to your limiting thoughts ab out how things are supposed to be, you can begin to trade successfully in line with that vision today…. …  Mastery can, in fact, be boiled down to 2 basic premises: 1)defining a goal and a strategy by which to reach that goal and 2)trading in terms of what is keeping you form the realisations of that goal. When you trade with the lens of your vision, you will see reality more clearly and will be able to take risks more consciously with definite intentions to produce specific results in a specific way.

Tallest building in 1902

September 12th, 2007

Tags: Time and Place

Talling building in 1902 was the Flatiron Building, New York. When it was made in 1902, it was 20 storeys high (87m). It sits on a triangular island block at 23rd Street, Fifth Avenue, and Broadway, facing Madison Square. Really beautiful building… one day i shall take it’s pic when i go to NYC ;)

 flatiron.jpg

picture credit: image source

6 thinking hats by Edward de Bono

September 11th, 2007

Tags: Book Reviews · Life Skills · Religion and Philosophy

Book Title: 6 Thinking Hats
Author: Edward de Bono
Year written/published: 1985
Book Source: Amazon, Library
Summary: 6 thinking hats – White, Red, Black, Yellow, Green, Blue defines the 6 ways humans think.
My Comments: Interesting outlook! So say in a discussion, we can always steer the thinking towards a particular direction – instead of saying you  need to think differently, we can say let’s put on the yellow hat! i’ll definitely remember this in group work times! A must read for all meeting coordinators and team leader… or just anybody!!
Some extracts:

6 hats and their functions…

White Hat: White is neutral and objective. The white hat is concerned with objective facts and figures.
Red Hat: Red suggests anger, rage emotions. The red hat gives the emotional view.
Black Hat: Black is somber and serious. The back hat is cautious and careful. It points out the weaknesses in an idea.
Yellow Hat: Yellow is sunny and positive. The Yellow hat is optimistic and covers hope and positive thinking.
Green Hat: Green is grass, vegetation, and abundant, fertile growth. The green hat indicates creativity and new ideas.
Blue Hat: Blue is cool, and it is also the color of the sky, which is above everything else. The blue hat is concerned with control, the organisation of the thinking process and the use of other hats.

 

use of the ‘hat’ symbolism…

In practise the hats are always referred to by their colour and never by their function. There is a good reason for this. If you ask someone to give his or her emotional reaction to something, you ar eunlikely to get an honest answer becasue people think it is wrong to be emotional. But the term red hat is nautral. You can ask someone to “take off the black hat” for a moment…. … The neutrality of the colours allows the hats to be used without embarrasement. Thinking becomes a game with defined rules rather than a matter of exhortation and condemnation.