Top Gainers in October 2014
Top Losers in October 2014
Top Gainers YTD (Year-to-date)
Top Losers YTD (Year-to-date)
Top Losers in October 2014
Top Gainers YTD (Year-to-date)
Top Losers YTD (Year-to-date)
Friday, 31 October 2014
Quote for the day
“When you're trading well, you have a better mental attitude. When you're trading poorly, you start wishing and hoping. Instead of getting into trades you think will work, you end up getting into trades you hope will work.” - Randy McKay
Thursday, 30 October 2014
Quote for the day
"A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done." - Vince Lombardi
Wednesday, 29 October 2014
Quote for the day
"People who succeed have momentum. The more they succeed, the more they want to succeed, and the more they find a way to succeed. Similarly, when someone is failing, the tendency is to get on a downward spiral that can even become a self-fulfilling prophecy." - Tony Robbins
Tuesday, 28 October 2014
Quote for the day
“It was the change in my own attitude toward the game that was of supreme importance to me. It taught me, little by little, the essential difference between betting on fluctuations and anticipating inevitable advances and declines, between gambling and speculating.” - Reminiscences of a Stock Operator
Monday, 27 October 2014
Quote for the day
"The reason most people never reach their goals is that they don't define them, or ever seriously consider them as believable or achievable. Winners can tell you where they are going, what they plan to do along the way, and who will be sharing the adventure with them." - Denis Waitley
Sunday, 26 October 2014
Tech Cold War: Facebook vs. Google
Google and Facebook are at war. Spending billions on apps and specialists, these tech giants are vying for control of the digital world. The new cold war isn't about tanks, Missiles or doomsday machines - it's about commanding your attention check out the infographic.
Source: http://www.visualistan.com/
Quote for the day
“Rather than daydreaming of a huge windfall in markets, perhaps traders should proactively seek out windfalls of experience, seasoning and knowledge…” - Jack Sparrow
Saturday, 25 October 2014
The World's 2,325 Billionaires Have These 14 Traits In Common
There are 12 million millionaires in the world, but only 2,325 billionaires.
That's an exclusive club, of which the likes of Warren Buffett, Jack Ma, and Oprah Winfrey are members.
Digging into research firm Wealth-X's new Billionaire Census, we found that billionaires have some commonalities.
Such as:
• If there is an average billionaire, he or she is worth around $3 billion. Or roughly one Snapchat.
• Billionaires have a combined wealth of $7.3 trillion, a 12% increase from last year. That's higher than the market capitalization of all the Dow Jones companies put together. Put another way, if all the world's billionaires decided to join forces and become a country, their combined wealth would be greater than the GDP than Japan.
• The 2,325 billionaires control 4% of the wealth in the world. The more inclusive 1% of the world's population controls 40% of the wealth.
• For every three million people on earth there's a single billionaire. Lonely, right?
• Europe has more billionaires than any other region. The Old World has 775 of them.
• The US has more than any other country. America has 571 billionaires, with 57 newly minted members since last year.
• 60% of billionaires made their wealth themselves, like Jack Ma and Larry Ellison. Meanwhile, 26.9% became billionaires from re-investing inherited wealth, and 13% of them inherited their billionaire status straight out.
• Getting to billionaire status takes a while. Your average billionaire is 63 years old, and 93% of the world's billionaire population is over 45.
• Billionaires invest a lot in real estate, at about $160 million per person. They tend to have four properties — it supports "the billionaire lifestyle," the report says.
• Billionaires tend to have "non-real estate luxury assets." They sound really fun. "For example, one in 30 billionaires owns a sports team or a racehorse," the report says. "Other significant luxury assets include yachts, planes, cars, and art."
• Billionaires are into matrimony. 65% of them are married.
• Billionaires love the Ivy League. While billionaires went to over 700 different universities, the Ivies have the most grads: 25 went to the University of Pennsylvania, 22 went to Harvard, and 20 went to Yale.
• But a surprising number of billionaires don't have a college degree. 35% never finished undergrad.
• Billionaires tend to work in finance. Almost 20% of billionaires made their careers on Wall Street or its equivalents.
And they're most likely living in New York.
Read more: http://www.businessinsider.com
That's an exclusive club, of which the likes of Warren Buffett, Jack Ma, and Oprah Winfrey are members.
Digging into research firm Wealth-X's new Billionaire Census, we found that billionaires have some commonalities.
Such as:
• If there is an average billionaire, he or she is worth around $3 billion. Or roughly one Snapchat.
• Billionaires have a combined wealth of $7.3 trillion, a 12% increase from last year. That's higher than the market capitalization of all the Dow Jones companies put together. Put another way, if all the world's billionaires decided to join forces and become a country, their combined wealth would be greater than the GDP than Japan.
• The 2,325 billionaires control 4% of the wealth in the world. The more inclusive 1% of the world's population controls 40% of the wealth.
• For every three million people on earth there's a single billionaire. Lonely, right?
• Europe has more billionaires than any other region. The Old World has 775 of them.
• The US has more than any other country. America has 571 billionaires, with 57 newly minted members since last year.
• 60% of billionaires made their wealth themselves, like Jack Ma and Larry Ellison. Meanwhile, 26.9% became billionaires from re-investing inherited wealth, and 13% of them inherited their billionaire status straight out.
• Getting to billionaire status takes a while. Your average billionaire is 63 years old, and 93% of the world's billionaire population is over 45.
• Billionaires invest a lot in real estate, at about $160 million per person. They tend to have four properties — it supports "the billionaire lifestyle," the report says.
• Billionaires tend to have "non-real estate luxury assets." They sound really fun. "For example, one in 30 billionaires owns a sports team or a racehorse," the report says. "Other significant luxury assets include yachts, planes, cars, and art."
• Billionaires are into matrimony. 65% of them are married.
• Billionaires love the Ivy League. While billionaires went to over 700 different universities, the Ivies have the most grads: 25 went to the University of Pennsylvania, 22 went to Harvard, and 20 went to Yale.
• But a surprising number of billionaires don't have a college degree. 35% never finished undergrad.
• Billionaires tend to work in finance. Almost 20% of billionaires made their careers on Wall Street or its equivalents.
And they're most likely living in New York.
Read more: http://www.businessinsider.com
Quote for the day
“Superlative performance is really a confluence of dozens of small skills or activities, each one learned or stumbled upon, which have been carefully drilled into habit and then are fitted together in a synthesized whole. There is nothing extraordinary or superhuman in any one of those actions; only the fact that they are done consistently and correctly, and all together, produce excellence.” - Daniel F. Chambliss
Friday, 24 October 2014
Learn The Language: What code Should you Learn?
There are many languages to code in, so many, in fact, the beginner can easily be overwhelmed. Learn about the top choices so you can be successful and raise your earning potential.
Source: http://www.visualistan.com/
Quote for the day
“Reflexivity sets up a feedback loop between market valuations and the so-called fundamentals which are being valued. The feedback can be either positive or negative.”
- George Soros
- George Soros
Thursday, 23 October 2014
You May Be Addicted to Your Smartphone
Can't go more than a few minutes without checking your phone? It's more than just a love of technology: it's being classified as an anxiety disorder.
Source: http://www.visualistan.com/
Quote for the day
“Fools try to prove that they are right. Wise men try to find when they are wrong.” - Dickson G. Watts
Wednesday, 22 October 2014
Isaac Asimov Predicts in 1964 What the World Will Look Like Today — in 2014
When New York City hosted The World’s Fair in 1964, Isaac Asimov, the prolific sci-fi author and professor of biochemistry at Boston University, took the opportunity to wonder what the world would look like 50 years hence — assuming the world survived the nuclear threats of the Cold War. Writing in The New York Times, Asimov imagined a world that you might partly recognize today, a world where:
* “Gadgetry will continue to relieve mankind of tedious jobs. Kitchen units will be devised that will prepare ‘automeals,’ heating water and converting it to coffee; toasting bread; frying, poaching or scrambling eggs, grilling bacon, and so on. Breakfasts will be ‘ordered’ the night before to be ready by a specified hour the next morning.”
* “Communications will become sight-sound and you will see as well as hear the person you telephone. The screen can be used not only to see the people you call but also for studying documents and photographs and reading passages from books. Synchronous satellites, hovering in space will make it possible for you to direct-dial any spot on earth, including the weather stations in Antarctica.”
* “[M]en will continue to withdraw from nature in order to create an environment that will suit them better. By 2014, electroluminescent panels will be in common use. Ceilings and walls will glow softly, and in a variety of colours that will change at the touch of a push button.”
* “Robots will neither be common nor very good in 2014, but they will be in existence.”
* “The appliances of 2014 will have no electric cords, of course, for they will be powered by long- lived batteries running on radioisotopes.”
* “[H]ighways … in the more advanced sections of the world will have passed their peak in 2014; there will be increasing emphasis on transportation that makes the least possible contact with the surface. There will be aircraft, of course, but even ground travel will increasingly take to the air a foot or two off the ground.”
* “[V]ehicles with ‘Robot-brains’ … can be set for particular destinations … that will then proceed there without interference by the slow reflexes of a human driver.”
* “[T]he world population will be 6,500,000,000 and the population of the United States will be 350,000,000.” And later he warns that if the population growth continues unchecked, “All earth will be a single choked Manhattan by A.D. 2450 and society will collapse long before that!” As a result, “There will, therefore, be a worldwide propaganda drive in favor of birth control by rational and humane methods and, by 2014, it will undoubtedly have taken serious effect.”
* “Ordinary agriculture will keep up with great difficulty and there will be ‘farms’ turning to the more efficient micro-organisms. Processed yeast and algae products will be available in a variety of flavors.”
* “The world of A.D. 2014 will have few routine jobs that cannot be done better by some machine than by any human being. Mankind will therefore have become largely a race of machine tenders. Schools will have to be oriented in this direction…. All the high-school students will be taught the fundamentals of computer technology will become proficient in binary arithmetic and will be trained to perfection in the use of the computer languages that will have developed out of those like the contemporary “Fortran.”
* “[M]ankind will suffer badly from the disease of boredom, a disease spreading more widely each year and growing in intensity. This will have serious mental, emotional and sociological consequences, and I dare say that psychiatry will be far and away the most important medical specialty in 2014.”
* “Gadgetry will continue to relieve mankind of tedious jobs. Kitchen units will be devised that will prepare ‘automeals,’ heating water and converting it to coffee; toasting bread; frying, poaching or scrambling eggs, grilling bacon, and so on. Breakfasts will be ‘ordered’ the night before to be ready by a specified hour the next morning.”
* “Communications will become sight-sound and you will see as well as hear the person you telephone. The screen can be used not only to see the people you call but also for studying documents and photographs and reading passages from books. Synchronous satellites, hovering in space will make it possible for you to direct-dial any spot on earth, including the weather stations in Antarctica.”
* “[M]en will continue to withdraw from nature in order to create an environment that will suit them better. By 2014, electroluminescent panels will be in common use. Ceilings and walls will glow softly, and in a variety of colours that will change at the touch of a push button.”
* “Robots will neither be common nor very good in 2014, but they will be in existence.”
* “The appliances of 2014 will have no electric cords, of course, for they will be powered by long- lived batteries running on radioisotopes.”
* “[H]ighways … in the more advanced sections of the world will have passed their peak in 2014; there will be increasing emphasis on transportation that makes the least possible contact with the surface. There will be aircraft, of course, but even ground travel will increasingly take to the air a foot or two off the ground.”
* “[V]ehicles with ‘Robot-brains’ … can be set for particular destinations … that will then proceed there without interference by the slow reflexes of a human driver.”
* “[W]all screens will have replaced the ordinary set; but transparent cubes will be making their appearance in which three-dimensional viewing will be possible.”
* “[T]he world population will be 6,500,000,000 and the population of the United States will be 350,000,000.” And later he warns that if the population growth continues unchecked, “All earth will be a single choked Manhattan by A.D. 2450 and society will collapse long before that!” As a result, “There will, therefore, be a worldwide propaganda drive in favor of birth control by rational and humane methods and, by 2014, it will undoubtedly have taken serious effect.”
* “Ordinary agriculture will keep up with great difficulty and there will be ‘farms’ turning to the more efficient micro-organisms. Processed yeast and algae products will be available in a variety of flavors.”
* “The world of A.D. 2014 will have few routine jobs that cannot be done better by some machine than by any human being. Mankind will therefore have become largely a race of machine tenders. Schools will have to be oriented in this direction…. All the high-school students will be taught the fundamentals of computer technology will become proficient in binary arithmetic and will be trained to perfection in the use of the computer languages that will have developed out of those like the contemporary “Fortran.”
* “[M]ankind will suffer badly from the disease of boredom, a disease spreading more widely each year and growing in intensity. This will have serious mental, emotional and sociological consequences, and I dare say that psychiatry will be far and away the most important medical specialty in 2014.”
* “[T]he most glorious single word in the vocabulary will have become work!” in our “a society of enforced leisure.”
Isaac Asimov wasn't the only person during the 60s who peered into the future in a fairly prescient way. You can find a few more on-the-mark predictions from contemporaries below:
Arthur C. Clarke Predicts the Future in 1964 … And Kind of Nails It
Walter Cronkite Imagines the Home of the 21st Century … Back in 1967
The Internet Imagined in 1969
Marshall McLuhan Announces That The World is a Global Village
Source: http://www.openculture.com/Isaac Asimov wasn't the only person during the 60s who peered into the future in a fairly prescient way. You can find a few more on-the-mark predictions from contemporaries below:
Arthur C. Clarke Predicts the Future in 1964 … And Kind of Nails It
Walter Cronkite Imagines the Home of the 21st Century … Back in 1967
The Internet Imagined in 1969
Marshall McLuhan Announces That The World is a Global Village
Don't Bother Investing Until You Answer These Questions
By Josh Patrick
You know you need to put money away. You might want to save for retirement or for your child’s education or just need a rainy-day fund for emergencies. Whatever your target, know that different financial goals require different strategies.
I hate it when a client says, "I have X amount of dollars to invest" and yet won’t tell me anything about his or her goals. I can’t give you a good answer unless I can understand what you’re trying to accomplish with money.
How long before you need the money?
You know you need to put money away. You might want to save for retirement or for your child’s education or just need a rainy-day fund for emergencies. Whatever your target, know that different financial goals require different strategies.
I hate it when a client says, "I have X amount of dollars to invest" and yet won’t tell me anything about his or her goals. I can’t give you a good answer unless I can understand what you’re trying to accomplish with money.
How long before you need the money?
If you’re saving for retirement and are still at least 10 years away from your golden years, my advice is very different than if you want to save for college and need the tuition money in just three years.
More than half of Americans (53%) work toward such long-term goals as retirement savings, college funding, and costs of medical care in retirement, according to a recent Fidelity Investments survey. More than a third (39%) work toward short-term goals such as building an emergency fund or attacking credit-card debt.
Other important questions:
How important are your goals?
A lot of investment managers seem to forget to ask this. You’re probably pretty good at setting the time frame for when you need large amounts of money. Knowing your goal’s importance tells me whether we need to do some financial planning.
Is your goal a want or a need? If the goal really matters, we look not only at the time frame but also a reasonable return for the time and the risk, then figure out whether you’re saving enough money now.
Are you willing to change?
The more important the goal, the bigger your why, the more likely you’re willing to change behavior. If you tell me this goal must happen in the year you specify, you’re likely to sacrifice a little more today for the goal to happen.
Often whether you reach a goal tomorrow depends on whether you sacrifice a little today.
What if your plan doesn't work?
Monitoring comes in here. Don’t look at your investments every day or even every week, but do pay attention to what’s happening generally with those investments. If your returns fall short, something must change.
You might need to change investments or save more. If your nest egg is growing ahead of schedule, you may even be able to save less right now.
The key: You probably won’t get the result planned when you first started. You will make adjustments as you work toward your financial goal. Sometimes you’ll like the adjustment and sometimes you won’t.
Be patient.
When you start investing and saving, it always looks like nothing is happening. Over months and years, you will notice some progress. Then one day you will realize you reached your goal. The patient win this game.
The impatient and those who want immediate gratification will spend an awful lot of time unhappy in investing and saving — and likely stand a poorer chance of reaching financial goals.
Read more: http://adviceiq.com/articles/josh-patrick-investing-know-your-goals#ixzz3Go6qdeIt
More than half of Americans (53%) work toward such long-term goals as retirement savings, college funding, and costs of medical care in retirement, according to a recent Fidelity Investments survey. More than a third (39%) work toward short-term goals such as building an emergency fund or attacking credit-card debt.
Other important questions:
How important are your goals?
A lot of investment managers seem to forget to ask this. You’re probably pretty good at setting the time frame for when you need large amounts of money. Knowing your goal’s importance tells me whether we need to do some financial planning.
Is your goal a want or a need? If the goal really matters, we look not only at the time frame but also a reasonable return for the time and the risk, then figure out whether you’re saving enough money now.
Are you willing to change?
The more important the goal, the bigger your why, the more likely you’re willing to change behavior. If you tell me this goal must happen in the year you specify, you’re likely to sacrifice a little more today for the goal to happen.
Often whether you reach a goal tomorrow depends on whether you sacrifice a little today.
What if your plan doesn't work?
Monitoring comes in here. Don’t look at your investments every day or even every week, but do pay attention to what’s happening generally with those investments. If your returns fall short, something must change.
You might need to change investments or save more. If your nest egg is growing ahead of schedule, you may even be able to save less right now.
The key: You probably won’t get the result planned when you first started. You will make adjustments as you work toward your financial goal. Sometimes you’ll like the adjustment and sometimes you won’t.
Be patient.
When you start investing and saving, it always looks like nothing is happening. Over months and years, you will notice some progress. Then one day you will realize you reached your goal. The patient win this game.
The impatient and those who want immediate gratification will spend an awful lot of time unhappy in investing and saving — and likely stand a poorer chance of reaching financial goals.
Read more: http://adviceiq.com/articles/josh-patrick-investing-know-your-goals#ixzz3Go6qdeIt
Quote for the day
“I know educated people who watch the news and wonder why the hell they lost money when everyone else is taking profits. The media owes it to the public to report that the market goes down not only on profit taking, but on a lot of loss taking as well.” - Mark Weinstein
21 Ways to Achieve Wealth and Success
By Meiko S. Patton
In his book, Rich Habits -- The Daily Success Habits of Wealthy Individuals, Tom Corley outlines several habits that distinguish the wealthy from the nonwealthy.
It got me to think, How many people operate on autopilot and don’t stop to monitor their everyday patterns? Below I've summarized 19 of his habits for success (nine culled from his book and the next 10 from his recent article in Success) plus two of my own. If you're not actively engaged in these 21 things, you are, in effect, leaving money on the table.
1. Setting good daily habits.
Good habits are the foundation of wealth building. The difference between successful and unsuccessful people lies in their daily habits. Simply put, successful people have many good habits and few bad ones. If you understand that your bad habits may be preventing you from becoming wealthy, that realization will be the first step in your improving your circumstances.
In his book, Corley invites you to take out a sheet of paper and list your bad habits in one column and then invert each one to place under a new column for good habits. It should look like this:
Bad Habit Good Habit
I watch too much TV. I limit myself to one hour of TV per day.
I don’t remember names. I write down names and remember them.
Then for 30 days, follow the guidance of your new good habits list. You’ll be amazed at how much you can accomplish.
2. Regularly creating goals.
Successful people are goal driven. They create goals all the time. They plan their day the night before with to-do lists.
People who are headed for success think for the long term. They have daily, weekly, monthly and yearly goals. But what’s a goal without a plan to reach them? So not only do successful people have goals, they also come up with ways to achieve them and hold themselves accountable.
3. Engaging in self-improvement daily.
Successful people are always looking for ways to improve themselves. They read every day and are students of their profession. They don’t spend their time on activities that don't bring them closer to their goals.
I recently attended an event hosted by author Brendon Burchard, who said he consistently blocks out time to create. Successful people like Burchard know that time is too valuable a commodity to waste. They spend their time on the things that will move the needle for them in their business: Being committed to self-improvement means you engage in activities every day that will stretch you.
Seek ways to expand your knowledge. This won’t always be easy, but people grow from things that pose a challenge. Once your knowledge grows, opportunities appear.
4. Regularly taking care of personal health.
Each and every day successful people make an effort to eat right and exercise. Eating right is of utmost importance. Exercising daily can become a regular habit, just like taking a bath. People who exercise routinely have more energy to get things done. How are you doing in this area?
5. Often making time for relationship building.
People who are successful are other-people focused. They take time out of their day to strengthen the bonds of friendship and form long-lasting relationships with others. Networking is something they do all the time. They reach out to their contacts and look for ways to help them with no expectation of in return.
The most beautiful sound on Earth, I once heard someone say, is your name. So make it a goal to learn the names of every contact you meet. Aren’t you impressed when someone remembers your name? I know I am. So stand out as different and start remembering names.
6. Doing things in moderation.
You live in a balanced way if you do activities in moderation. This means having a balanced approach to work, eating, exercise, consuming alcohol, watching television, surfing the Internet and so forth. As a result, people will enjoy your company. If people like being around you, then you will be more apt to collaborate or find the new business partner that you need to take your business to the next level.
7. Getting things done.
Don’t put off to tomorrow what you can do today: Accomplish things. All people have fears, but successful people push past them. They don't procrastinate. They get the important things done, no matter the cost.
In Rich Habits, Corley explains that when the thought of putting off something enters the mind, immediately shed notion by saying, “Do it now.” He says repeat these words 100 times if necessary. Just don’t stop till the task is done.
8. Keeping a positive outlook.
Consider the most successful person you know. Is that person positive or negative? Most likely this individual is positive, enthusiastic, energetic and happy. This person chooses to see the good in others and in himself or herself. To this person, problems are just opportunities waiting to be uncovered.
Every day people are bombarded by news of bad deeds and doings. Successful people minimize their exposure to this type of thing and instead opt to fill their minds with positive ideas from books and magazines.
9. Regularly saving money.
According to Corley, successful individuals put away about 10 percent to 20 percent of their gross earnings in a savings, investment or retirement plan. Not everyone can afford to do so, but what percent are you putting away?
10. Rejecting self-limiting thoughts.
Successful people command their thoughts and emotions. As soon as bad thoughts intrude, they cast out anything that challenges their ability to succeed at the task at hand. They do not dwell on negative notions. Their self-talk is positive and not overly critical. They replace bad thoughts with good ones.
Because successful people engage in self-improvement daily and are constantly involved in positive things, they don’t allow themselves time to indulge in negative emotions.
11. Living within means.
Wealthy people avoid overspending. Among many of those struggling financially, some are living above their means. They spend more than they earn, live from paycheck to paycheck and are drowning in credit-card debt. If this is you, resolve today to turn things around for you and your family.
12. Reading daily.
Many successful people read 30 minutes or more every day. Reading can increase your knowledge and know-how. When you read, often you are seeking to improve yourself. This automatically sets you apart from your counterparts. You will stand out from the competition.
13. Limiting TV watching.
Did you know that many successful people limit the amount their TV time to one hour or less a day? How much time do you lose in front of the television that you could be spending doing something more productive?
14. Doing more than what’s required.
Successful people regularly go above and beyond the call of duty at work. Even if something is not in their job description, they will volunteer to do it. Wealthy people make themselves invaluable. As an entrepreneur, you may not have a boss. But in what ways do you go above and beyond for your clients? How do you wow them?
15. Talking less and listening more.
When you listen, you learn. And as the adage goes, that’s why people have two ears and one mouth. When you take the time to really pay attention to what another person is saying, it can truly help not only you but your bottom line as well. When you listen, you are in a better position to help others.
16. Not giving up.
Don't give up when the going gets tough. Successful people hang in there. They pivot. They try something new. They persist. They may have to change their direction, but they keep moving forward.
17. Spending time with like-minded ones.
There's a saying that goes, “Show me who your friends are and I’ll show you who you are.” I believe that. People are only as successful as those they choose to surround themselves with. Good associations can help you more quickly achieve your goals.
18. Finding a mentor.
Many people who have had a mentor have attributed their success to that person. Mentors can help you achieve your goals faster and keep you accountable. They can share valuable experience that can cut your learning time in half.
19. Knowing your why.
When you know why you're doing something, you will get what you what quicker than if you don’t. Having a purpose is essential to being successful in business and in life. Why do you want to be successful? Why do you really want to be wealthy?
20. Not giving fear the upper hand.
Everyone has fears. Successful people don’t allow their fears to limit or define them. Fear inevitably keeps you in the same position and stunts your growth. Recognize your fears and seek ways to overcome them. Interview someone you admire and ask that person how he or she overcame a fear or pick up an autobiography and take notes.
21. Upgrading skills.
If you want to get ahead, there’s only one way to do it: Become better at something than you are today. What's the one thing you can focus on for the next 30 days that will catapult you to rock-star status in your industry? Focus your attention on that. I heard John Lee Dumas from Entrepreneur on Fire define "FOCUS" like this: Follow one course until success. Will you?
Source:http://www.entrepreneur.com/
In his book, Rich Habits -- The Daily Success Habits of Wealthy Individuals, Tom Corley outlines several habits that distinguish the wealthy from the nonwealthy.
It got me to think, How many people operate on autopilot and don’t stop to monitor their everyday patterns? Below I've summarized 19 of his habits for success (nine culled from his book and the next 10 from his recent article in Success) plus two of my own. If you're not actively engaged in these 21 things, you are, in effect, leaving money on the table.
1. Setting good daily habits.
Good habits are the foundation of wealth building. The difference between successful and unsuccessful people lies in their daily habits. Simply put, successful people have many good habits and few bad ones. If you understand that your bad habits may be preventing you from becoming wealthy, that realization will be the first step in your improving your circumstances.
In his book, Corley invites you to take out a sheet of paper and list your bad habits in one column and then invert each one to place under a new column for good habits. It should look like this:
Bad Habit Good Habit
I watch too much TV. I limit myself to one hour of TV per day.
I don’t remember names. I write down names and remember them.
Then for 30 days, follow the guidance of your new good habits list. You’ll be amazed at how much you can accomplish.
2. Regularly creating goals.
Successful people are goal driven. They create goals all the time. They plan their day the night before with to-do lists.
People who are headed for success think for the long term. They have daily, weekly, monthly and yearly goals. But what’s a goal without a plan to reach them? So not only do successful people have goals, they also come up with ways to achieve them and hold themselves accountable.
3. Engaging in self-improvement daily.
Successful people are always looking for ways to improve themselves. They read every day and are students of their profession. They don’t spend their time on activities that don't bring them closer to their goals.
I recently attended an event hosted by author Brendon Burchard, who said he consistently blocks out time to create. Successful people like Burchard know that time is too valuable a commodity to waste. They spend their time on the things that will move the needle for them in their business: Being committed to self-improvement means you engage in activities every day that will stretch you.
Seek ways to expand your knowledge. This won’t always be easy, but people grow from things that pose a challenge. Once your knowledge grows, opportunities appear.
4. Regularly taking care of personal health.
Each and every day successful people make an effort to eat right and exercise. Eating right is of utmost importance. Exercising daily can become a regular habit, just like taking a bath. People who exercise routinely have more energy to get things done. How are you doing in this area?
5. Often making time for relationship building.
People who are successful are other-people focused. They take time out of their day to strengthen the bonds of friendship and form long-lasting relationships with others. Networking is something they do all the time. They reach out to their contacts and look for ways to help them with no expectation of in return.
The most beautiful sound on Earth, I once heard someone say, is your name. So make it a goal to learn the names of every contact you meet. Aren’t you impressed when someone remembers your name? I know I am. So stand out as different and start remembering names.
6. Doing things in moderation.
You live in a balanced way if you do activities in moderation. This means having a balanced approach to work, eating, exercise, consuming alcohol, watching television, surfing the Internet and so forth. As a result, people will enjoy your company. If people like being around you, then you will be more apt to collaborate or find the new business partner that you need to take your business to the next level.
7. Getting things done.
Don’t put off to tomorrow what you can do today: Accomplish things. All people have fears, but successful people push past them. They don't procrastinate. They get the important things done, no matter the cost.
In Rich Habits, Corley explains that when the thought of putting off something enters the mind, immediately shed notion by saying, “Do it now.” He says repeat these words 100 times if necessary. Just don’t stop till the task is done.
8. Keeping a positive outlook.
Consider the most successful person you know. Is that person positive or negative? Most likely this individual is positive, enthusiastic, energetic and happy. This person chooses to see the good in others and in himself or herself. To this person, problems are just opportunities waiting to be uncovered.
Every day people are bombarded by news of bad deeds and doings. Successful people minimize their exposure to this type of thing and instead opt to fill their minds with positive ideas from books and magazines.
9. Regularly saving money.
According to Corley, successful individuals put away about 10 percent to 20 percent of their gross earnings in a savings, investment or retirement plan. Not everyone can afford to do so, but what percent are you putting away?
10. Rejecting self-limiting thoughts.
Successful people command their thoughts and emotions. As soon as bad thoughts intrude, they cast out anything that challenges their ability to succeed at the task at hand. They do not dwell on negative notions. Their self-talk is positive and not overly critical. They replace bad thoughts with good ones.
Because successful people engage in self-improvement daily and are constantly involved in positive things, they don’t allow themselves time to indulge in negative emotions.
11. Living within means.
Wealthy people avoid overspending. Among many of those struggling financially, some are living above their means. They spend more than they earn, live from paycheck to paycheck and are drowning in credit-card debt. If this is you, resolve today to turn things around for you and your family.
12. Reading daily.
Many successful people read 30 minutes or more every day. Reading can increase your knowledge and know-how. When you read, often you are seeking to improve yourself. This automatically sets you apart from your counterparts. You will stand out from the competition.
13. Limiting TV watching.
Did you know that many successful people limit the amount their TV time to one hour or less a day? How much time do you lose in front of the television that you could be spending doing something more productive?
14. Doing more than what’s required.
Successful people regularly go above and beyond the call of duty at work. Even if something is not in their job description, they will volunteer to do it. Wealthy people make themselves invaluable. As an entrepreneur, you may not have a boss. But in what ways do you go above and beyond for your clients? How do you wow them?
15. Talking less and listening more.
When you listen, you learn. And as the adage goes, that’s why people have two ears and one mouth. When you take the time to really pay attention to what another person is saying, it can truly help not only you but your bottom line as well. When you listen, you are in a better position to help others.
16. Not giving up.
Don't give up when the going gets tough. Successful people hang in there. They pivot. They try something new. They persist. They may have to change their direction, but they keep moving forward.
17. Spending time with like-minded ones.
There's a saying that goes, “Show me who your friends are and I’ll show you who you are.” I believe that. People are only as successful as those they choose to surround themselves with. Good associations can help you more quickly achieve your goals.
18. Finding a mentor.
Many people who have had a mentor have attributed their success to that person. Mentors can help you achieve your goals faster and keep you accountable. They can share valuable experience that can cut your learning time in half.
19. Knowing your why.
When you know why you're doing something, you will get what you what quicker than if you don’t. Having a purpose is essential to being successful in business and in life. Why do you want to be successful? Why do you really want to be wealthy?
20. Not giving fear the upper hand.
Everyone has fears. Successful people don’t allow their fears to limit or define them. Fear inevitably keeps you in the same position and stunts your growth. Recognize your fears and seek ways to overcome them. Interview someone you admire and ask that person how he or she overcame a fear or pick up an autobiography and take notes.
21. Upgrading skills.
If you want to get ahead, there’s only one way to do it: Become better at something than you are today. What's the one thing you can focus on for the next 30 days that will catapult you to rock-star status in your industry? Focus your attention on that. I heard John Lee Dumas from Entrepreneur on Fire define "FOCUS" like this: Follow one course until success. Will you?
Source:http://www.entrepreneur.com/
Tuesday, 21 October 2014
Quote for the day
“The essential element is having a core philosophy. Without a core philosophy you're not going to be able to hold on to your positions or stick with your trading plan during really difficult times. You must fully understand, strongly believe in, and be totally committed to your trading philosophy.” - Richard Driehaus
Monday, 20 October 2014
Quote for the day
“The stock market has far more short-term counter trends. After the market has gone up, it always wants to come down. The commodity markets are driven by supply and demand for physical goods; if there is a true shortage, prices will tend to keep trending higher.” - Bruce Kovner
Sunday, 19 October 2014
Here's The Characteristic That Sets Self-Made Billionaires Apart From The Rest Of Us
What's the difference between someone who makes $1 million and someone who makes $1 billion?
According to John Sviokla and Mitch Cohen, authors of "The Self-Made Billionaire Effect: How Extreme Producers Create Massive Value," it comes down to what the authors call "habits of mind."
Sviokla, the head of global thought leadership at Pricewaterhouse Coopers and a former Harvard Business School professor, and Cohen, a vice chairman at PwC, conducted a study of 120 self-made billionaires, randomly chosen from a pool of 600 global candidates.
They selected subjects who created $1 billion of wealth through "entrepreneurial activity," operated in regulated and somewhat transparent markets, and who didn't inherit the bulk of their wealth (although they did qualify if they grew their inherited wealth by 100 times or more). They then learned everything they could about the finalists.
The authors write that while they expected to find commonality among the billionaires' external circumstances, be it disadvantaged backgrounds or existential challenges, the common thread they found among the billionaires was internal: habits of mind.
Specifically, the billionaires are largely able to achieve what the authors refer to as a "duality of mind" between imagination and judgment — the ability to imagine something greater while seeing existing things truly as they are. Sviokla and Cohen write:
These dual habits of mind and action enable them to function as what we term Producers: They envision something new, bring together the people and the resources to create it, and sell it to customers who didn't know they needed it.
The opposite of this is what the authors term Performers: people who excel at operating within our existing systems and structures. Performers can be very successful, but there's a drawback to their strengths:
That single-minded talent for reaching otherworldly heights within a defined environment — so necessary in many aspects of business — reinforces function-driven systems that discourage the integrated habits of mind and action necessary for Producers.
There is, however, a ray of hope for those of us who recognize ourselves as Performers.
According to John Sviokla and Mitch Cohen, authors of "The Self-Made Billionaire Effect: How Extreme Producers Create Massive Value," it comes down to what the authors call "habits of mind."
Sviokla, the head of global thought leadership at Pricewaterhouse Coopers and a former Harvard Business School professor, and Cohen, a vice chairman at PwC, conducted a study of 120 self-made billionaires, randomly chosen from a pool of 600 global candidates.
They selected subjects who created $1 billion of wealth through "entrepreneurial activity," operated in regulated and somewhat transparent markets, and who didn't inherit the bulk of their wealth (although they did qualify if they grew their inherited wealth by 100 times or more). They then learned everything they could about the finalists.
The authors write that while they expected to find commonality among the billionaires' external circumstances, be it disadvantaged backgrounds or existential challenges, the common thread they found among the billionaires was internal: habits of mind.
Specifically, the billionaires are largely able to achieve what the authors refer to as a "duality of mind" between imagination and judgment — the ability to imagine something greater while seeing existing things truly as they are. Sviokla and Cohen write:
These dual habits of mind and action enable them to function as what we term Producers: They envision something new, bring together the people and the resources to create it, and sell it to customers who didn't know they needed it.
The opposite of this is what the authors term Performers: people who excel at operating within our existing systems and structures. Performers can be very successful, but there's a drawback to their strengths:
That single-minded talent for reaching otherworldly heights within a defined environment — so necessary in many aspects of business — reinforces function-driven systems that discourage the integrated habits of mind and action necessary for Producers.
There is, however, a ray of hope for those of us who recognize ourselves as Performers.
Sviokla and Cohen found that while many of the billionaires they studied appeared to have an inherent Producer mindset, it's their practice and cultivation of needed habits of mind that make them stand out in the crowd.
And, they write, anyone can change and improve their habits of mind. There's hope for us yet.
www.businessinsider.com
And, they write, anyone can change and improve their habits of mind. There's hope for us yet.
www.businessinsider.com
100 Motivational Quotes That Will Inspire You to Succeed
By Lolly Daskal
Everyone needs some inspiration, and these motivational quotes will give you the edge you need to create your success. So read on and let them inspire you.
As entrepreneurs, leaders, managers, and bosses, we must realize that everything we think actually matters. If we are seeking success, we must think successful, inspiring, and motivating thoughts.
Read on to find the words of wisdom that will motivate you in building your business, leading your life, creating success, achieving your goals, and overcoming your fears.
100 Motivational Quotes That Will Inspire Your Success:
1. "If you want to achieve greatness stop asking for permission." --Anonymous
2. "Things work out best for those who make the best of how things work out." --John Wooden
3. "To live a creative life, we must lose our fear of being wrong." --Anonymous
4. "If you are not willing to risk the usual you will have to settle for the ordinary." --Jim Rohn
5. "Trust because you are willing to accept the risk, not because it's safe or certain." --Anonymous
Everyone needs some inspiration, and these motivational quotes will give you the edge you need to create your success. So read on and let them inspire you.
As entrepreneurs, leaders, managers, and bosses, we must realize that everything we think actually matters. If we are seeking success, we must think successful, inspiring, and motivating thoughts.
Read on to find the words of wisdom that will motivate you in building your business, leading your life, creating success, achieving your goals, and overcoming your fears.
100 Motivational Quotes That Will Inspire Your Success:
1. "If you want to achieve greatness stop asking for permission." --Anonymous
2. "Things work out best for those who make the best of how things work out." --John Wooden
3. "To live a creative life, we must lose our fear of being wrong." --Anonymous
4. "If you are not willing to risk the usual you will have to settle for the ordinary." --Jim Rohn
5. "Trust because you are willing to accept the risk, not because it's safe or certain." --Anonymous
Quote for the day
"How many people are completely successful in every department of life? Not one. The most successful people are the ones who learn from their mistakes and turn their failures into opportunities." - Zig Ziglar
Saturday, 18 October 2014
40 Brand Logos With Hidden Messages
We're exposed to hundreds of brand logos every single day, and every aspect of the design says something about the brand. But if you take a close look at these 40 examples (a very close look in fact) you might spot a hidden message that says even more about the brand!
Source: http://www.visualistan.com/
The Flow Of Money Explained
Money and investment capital are very picky things. They are constantly flowing from those who know how to manage it, to those who do not. Money is not static, it is in constant flux. This is why a person that starts out poor in America can end up wealthy, and also why generational wealth can dissolve in one generation due to bad management.
* Money leaves those who risk it’s loss too many times, and ends up with those that protect it and make it grow.
* Money flows from customers to businesses.
* Money flows to innovators and away from outdated, stagnant businesses.
* Money flows from bad traders to good traders.
The flow of money is why a lottery winner that wins a jackpot and does not know how to manage it can quickly find themselves in bankruptcy. No amount of money will overcome consistently bad decisions. In a free market, capitalistic system, money flows continually to those that create value and away from those who do not.
* Money leaves those who risk it’s loss too many times, and ends up with those that protect it and make it grow.
* Money flows from consumers of goods and services to the owners of the businesses that provide the right products.
* Money flows to entrepreneurs when they create desirable goods and services.
* Money flows away from consumers that do not have self control.
* Money flows to employees that develop skills that employers will pay a premium for.
Little money flows to employees that lack skills, or the work ethic to attain them.
Little money flows to employees that lack skills, or the work ethic to attain them.
* Money flows from customers to businesses.
* Money flows to innovators and away from outdated, stagnant businesses.
* Money flows to well managed businesses and away from mismanaged ones.
* Money flows from bad traders to good traders.
Source: http://newtraderu.com/
Quote for the day
“A trader gets to play the game as the professional billiard player does — that is, he looks far ahead instead of considering the particular shot before him. It gets to be an instinct to play for position.” - Reminiscences of a Stock Operator
Friday, 17 October 2014
Quote for the day
“You can't ever get everything you want. It is impossible. Luckily, there is another option. You can learn to control your mind, to step outside of this endless cycle of desire and aversion. You can learn to not want what you want, to recognize desires but not be controlled by them. This does not mean that you lie down on the road and invite everybody to walk all over you. It means that you continue to live a very normal-looking life, but live from a whole new viewpoint. You do the things that a person must do, but you are free from that obsessive, compulsive drivenness of your own desires. You want something, but you don't need to chase after it. You fear something, but you don't need to stand there quaking in your boots. This sort of mental culture is very difficult. It takes years. But trying to control everything is impossible, and the difficult is preferable to the impossible.” - Ven. Bhante Henepola Gunaratana
Thursday, 16 October 2014
Quote for the day
"In trading you have to be defensive and aggressive at the same time. If you are not aggressive, you are not going to make money, and if you are not defensive, you are not going to keep money. I believe that anyone who has made money in trading has had to experience horrendous pain at some point." – Ray Dalio
Wednesday, 15 October 2014
Quote for the day
“It is much better to learn the lesson that you can lose everything when you don't have that much money than to learn the same lesson later on.” - Mark Minervini
Tuesday, 14 October 2014
Quote for the day
“They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. ” - Reminiscences of a Stock Operator
Monday, 13 October 2014
Quote for the day
“Value investors are students of the game; they learn from every pitch, those at which they swing and those they let pass by. They are not influenced by the way others are performing; they are motivated only by their own results.” - Seth Klarman
Sunday, 12 October 2014
9 Qualities of a Good Day Trader
Under the right circumstances, day trading is a viable career option with plenty of built-in advantages. Most day traders work from home and don’t report to anyone but themselves. Even better, successful traders can earn enough to live comfortable, even affluent lifestyles during their ample downtime.
However, this line of work isn’t for everyone. Successful day traders need to be self-motivated, disciplined, levelheaded and financially independent. If you’re thinking about pursuing a career in day trading, compare your own personality profile against this list of key characteristics and personality traits.
1. Personal independence: Since day traders work from home, they need to be motivated to work for their own financial and personal betterment. If you thrive in a regimented office setting, you might struggle with the self-starting nature of this business.
2. Decisiveness: The market can change in a matter of seconds, so good day traders need to be vigilant, quick-witted and decisive. Talented day traders draw on past experiences to read new situations quickly and react appropriately. There’s little room for second-guessing here.
3. Persistence and discipline: Since day traders don’t have hard-nosed bosses telling them what to do at all times, they need to stay on task during trading sessions and commit to intensive after-hours research and preparation sessions. Once they settle upon a profitable strategy, they stick with it until it no longer works.
4. Interest and inclination: Good day traders exhibit enthusiasm for the financial markets long before they decide to go into business for themselves. If you’re naturally inclined to follow stocks, bonds, commodities and other securities, you’ll fit in as a day trader. If you’re not particularly interested in finance or business, you may struggle out of the gate.
5. Experience and familiarity: Traders who are naturally inclined to follow the markets begin with a sizable advantage, but there’s also something to be said for hard-won experience. If you’ve ever worked in a financial capacity, you’ll have an instinctive fluency with the forces that drive the market’s movements. Better yet, you’ll be familiar with the trading platforms and systems that modern traders use.
6. Open-mindedness: The best day traders persistently pursue profitable trading strategies, but few if any find success immediately. Before you get into your short-term trading groove, you must be willing to try multiple strategies in succession. You’ll improve by sticking with what works and discarding what doesn’t.
7. Familiarity with technology: You don’t have to be a programming whiz, but short-term trading demands at least some familiarity with advanced trading and computing systems. More importantly, it requires a willingness to try out new platforms and systems as they become available.
8. Financial independence: Day traders don’t have to be fabulously wealthy. However, they do need to have an adequate financial safety net that allows them to trade with money that they can afford to lose. If you’re living paycheck to paycheck, build up some savings before beginning your day trading adventure. Once you start, keep an additional reserve in the event that you decide to move on.
9. Personal support: While day traders need to be self-motivated, disciplined and rational, they’re rarely total loners. Since their day-to-day existence is so stressful, the most successful traders tend to have strong networks of family and friends to keep them in touch with the outside world. Most are also avid hobbyists who spend their free time on fulfilling projects or adventures.
Source:www.daytradetheworld.com/
However, this line of work isn’t for everyone. Successful day traders need to be self-motivated, disciplined, levelheaded and financially independent. If you’re thinking about pursuing a career in day trading, compare your own personality profile against this list of key characteristics and personality traits.
1. Personal independence: Since day traders work from home, they need to be motivated to work for their own financial and personal betterment. If you thrive in a regimented office setting, you might struggle with the self-starting nature of this business.
2. Decisiveness: The market can change in a matter of seconds, so good day traders need to be vigilant, quick-witted and decisive. Talented day traders draw on past experiences to read new situations quickly and react appropriately. There’s little room for second-guessing here.
3. Persistence and discipline: Since day traders don’t have hard-nosed bosses telling them what to do at all times, they need to stay on task during trading sessions and commit to intensive after-hours research and preparation sessions. Once they settle upon a profitable strategy, they stick with it until it no longer works.
4. Interest and inclination: Good day traders exhibit enthusiasm for the financial markets long before they decide to go into business for themselves. If you’re naturally inclined to follow stocks, bonds, commodities and other securities, you’ll fit in as a day trader. If you’re not particularly interested in finance or business, you may struggle out of the gate.
5. Experience and familiarity: Traders who are naturally inclined to follow the markets begin with a sizable advantage, but there’s also something to be said for hard-won experience. If you’ve ever worked in a financial capacity, you’ll have an instinctive fluency with the forces that drive the market’s movements. Better yet, you’ll be familiar with the trading platforms and systems that modern traders use.
6. Open-mindedness: The best day traders persistently pursue profitable trading strategies, but few if any find success immediately. Before you get into your short-term trading groove, you must be willing to try multiple strategies in succession. You’ll improve by sticking with what works and discarding what doesn’t.
7. Familiarity with technology: You don’t have to be a programming whiz, but short-term trading demands at least some familiarity with advanced trading and computing systems. More importantly, it requires a willingness to try out new platforms and systems as they become available.
8. Financial independence: Day traders don’t have to be fabulously wealthy. However, they do need to have an adequate financial safety net that allows them to trade with money that they can afford to lose. If you’re living paycheck to paycheck, build up some savings before beginning your day trading adventure. Once you start, keep an additional reserve in the event that you decide to move on.
9. Personal support: While day traders need to be self-motivated, disciplined and rational, they’re rarely total loners. Since their day-to-day existence is so stressful, the most successful traders tend to have strong networks of family and friends to keep them in touch with the outside world. Most are also avid hobbyists who spend their free time on fulfilling projects or adventures.
Source:www.daytradetheworld.com/
Quote for the day
“The desire to maximize the number of winning trades (or minimize the number of losing trades) works against the trader. The success rate of trades is the least important performance statistic and may even be inversely related to performance.” - William Eckhardt
Saturday, 11 October 2014
17 Counterintuitive Things The Most Successful People Do
Here are 17 counter-intuitive things that what make successful People successful. Take a look on the infographic to know.
![17 Counterintuitive Things The Most Successful People Do [Infographic]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tzMpNgjL-ifK4oSUeUj_TnmRr-kNJY3gV2Z4BkgkoS8ZnZ9kv7kLNDsINbP1zuWPMk1tTV7YGPGHSHx59gi4UV8zrqBbKvUUJczRcxNcEMC8vOxKs-K8qBbnjU4IvJ05q4yTiDGLPAEUwon9L_VwiQTSKGfmH4PYPM92RVSNVc8aI-VRzB0QOkMP1bjv_iZ2uzseCH=s0-d)
Source: http://www.visualistan.com/
6 Extraordinary Business Lessons From Self-Made Billionaires
By Larry Kim
There are a few things Bill Gates, J.K. Rowling, Mark Cuban and other business tycoons want you to know.
Billionaires are a whole other class of people, right? They must be smarter than the rest of us. Stronger. Luckier. Better.
What if I told you billionaires are just like you--and that at one point, each of the fabulously wealthy people in this column struggled through challenges and issues much the same as those you're facing?
Wouldn't you want to understand how they broke through, beat the odds and grew their fortunes into billions?
These six self-made billionaires are generous with their experience and have excellent business advice for you:
"It's fine to celebrate success but it is more important to heed the lessons of failure."--Bill Gates
Bill Gates knows a little something about failure. One of the most famous and successful tech entrepreneurs in history, Gates was first a college dropout. Still, in his time at Harvard, Gates told his professors he would be a millionaire by the time he turned 30. He did them one better, in fact--by age 31, he was a self-made billionaire.
It wasn't an easy path, though, and even his epic philanthropy work hasn't produced enough good karma to completely insulate Gates from failure. In fact, his philanthropy efforts have sometimes failed; Gates admits he regrets some programs, such as science that didn't work or a lunch program the government failed to take over.
Even so, he keeps trying. Each new venture is informed by the failures of his past, which has most certainly played a huge role in his earning the #2 spot on Forbes' ranking of the richest people on the planet, with a net worth of $81.4 billion.
"Part of being a winner is knowing when enough is enough. Sometimes you have to give up the fight and walk away, and move on to something that's more productive."--Donald Trump
If it seems like Donald Trump always has his irons in a number of different fires, it's because he does. He's a prime example of a mover and shaker, constantly working new deals. But he doesn't get emotionally attached or married to any of them.
The insanely wealthy understand perhaps better than anyone else the value of their time. Entrepreneurs often struggle with the feeling that their idea--their business--is their baby. It's a dangerous mindset that can result in an unwillingness to change, the exercising of too much control, or hanging on to a failing model too long.
Every moment counts. If an idea isn't working out, you have to know when to cut your losses and free up that time to try something else.
"If you want to see the true measure of a man, watch how he treats his inferiors, not his equals."--J.K. Rowling
The world's richest author, J.K. Rowling has maintained a deep respect and understanding for those living in poverty. After all, it wasn't all that long ago that she lived in it herself.
Now worth an estimated $1 billion, those days are long gone for Rowling, yet anyone who has experienced destitution never really leaves that legacy far behind. Becoming fabulously wealthy doesn't make you any better than the next person--it simply means you have more money. Fortunes are won and lost constantly and Rowling's advice reminds us to be kind to those around us, regardless of who they are. After all, you never know when you may fall on hard times yourself and need those people to give you a hand back up.
"As I grow older, I pay less attention to what men say. I just watch what they do."--Andrew Carnegie
The Internet has forever changed the way we communicate--and the vast amount of information available about individuals and businesses.
The world is watching.
Even start-up entrepreneurs can find themselves under the microscope, to varying degrees. You may think your actions go unnoticed, but apps like Secret and social networks like Facebook mean nothing is ever really private anymore, not really.
Customers are watching. Potential investors are watching. They're not as interested in what you say as what you do. Don't disappoint!
"If you never want to be criticized, for goodness' sake don't do anything new."--Jeff Bezos
Grow a thick skin; you're going to need it.
Amazon CEO Jeff Bezos is a tech leader many love to hate--he certainly takes his fair share of criticism, and then some. His company has faced criticism and controversy since its launch, with Bezos' personal business ethics and management style often thrown into the mix.
Still, Amazon has revolutionized the way we shop online. Bezos understands that changing the game invites criticism. And he's okay with that.
If you have a business idea and want to shake up an industry, you'd better get okay with it, too.
"Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don't do it."--Mark Cuban
It may seem like everything Mark Cuban has touched has turned to gold, but his upbringing wasn't exceptional. Cuban grew up in an affluent suburb of Pittsburgh and found his entrepreneurial spirit at just twelve years old, when he sold garbage bags to pay for a pair of shoes he coveted. After earning his B.S. in Business Administration at Indiana University's Kelley School of Business, he did a short stint as a salesperson for a Dallas software retailer--and was fired within a year.
Cuban's first business, MicroSolutions, sold to CompuServe for $6 million. His next venture was exponentially larger and more lucrative. With a partner, he founded Audionet, which would become Broadcast.com in 1998. A year later, in the dot-com boom, it was acquired by Yahoo for $5.7 billion in stock.
The rest, as they say, is history. Cuban has faced his share of controversy over the years, but now owns the Dallas Mavericks and is a star investor on ABC's Shark Tank. Forbes puts his net worth at $2.7 billion, making him the 652nd richest person on the planet.
Cuban loves investing and business. You can't argue that he's not fantastic at it. Do what you do best or don't bother!
Source: www.inc.com
There are a few things Bill Gates, J.K. Rowling, Mark Cuban and other business tycoons want you to know.
Billionaires are a whole other class of people, right? They must be smarter than the rest of us. Stronger. Luckier. Better.
What if I told you billionaires are just like you--and that at one point, each of the fabulously wealthy people in this column struggled through challenges and issues much the same as those you're facing?
Wouldn't you want to understand how they broke through, beat the odds and grew their fortunes into billions?
These six self-made billionaires are generous with their experience and have excellent business advice for you:
"It's fine to celebrate success but it is more important to heed the lessons of failure."--Bill Gates
Bill Gates knows a little something about failure. One of the most famous and successful tech entrepreneurs in history, Gates was first a college dropout. Still, in his time at Harvard, Gates told his professors he would be a millionaire by the time he turned 30. He did them one better, in fact--by age 31, he was a self-made billionaire.
It wasn't an easy path, though, and even his epic philanthropy work hasn't produced enough good karma to completely insulate Gates from failure. In fact, his philanthropy efforts have sometimes failed; Gates admits he regrets some programs, such as science that didn't work or a lunch program the government failed to take over.
Even so, he keeps trying. Each new venture is informed by the failures of his past, which has most certainly played a huge role in his earning the #2 spot on Forbes' ranking of the richest people on the planet, with a net worth of $81.4 billion.
"Part of being a winner is knowing when enough is enough. Sometimes you have to give up the fight and walk away, and move on to something that's more productive."--Donald Trump
If it seems like Donald Trump always has his irons in a number of different fires, it's because he does. He's a prime example of a mover and shaker, constantly working new deals. But he doesn't get emotionally attached or married to any of them.
The insanely wealthy understand perhaps better than anyone else the value of their time. Entrepreneurs often struggle with the feeling that their idea--their business--is their baby. It's a dangerous mindset that can result in an unwillingness to change, the exercising of too much control, or hanging on to a failing model too long.
Every moment counts. If an idea isn't working out, you have to know when to cut your losses and free up that time to try something else.
"If you want to see the true measure of a man, watch how he treats his inferiors, not his equals."--J.K. Rowling
The world's richest author, J.K. Rowling has maintained a deep respect and understanding for those living in poverty. After all, it wasn't all that long ago that she lived in it herself.
Now worth an estimated $1 billion, those days are long gone for Rowling, yet anyone who has experienced destitution never really leaves that legacy far behind. Becoming fabulously wealthy doesn't make you any better than the next person--it simply means you have more money. Fortunes are won and lost constantly and Rowling's advice reminds us to be kind to those around us, regardless of who they are. After all, you never know when you may fall on hard times yourself and need those people to give you a hand back up.
"As I grow older, I pay less attention to what men say. I just watch what they do."--Andrew Carnegie
The Internet has forever changed the way we communicate--and the vast amount of information available about individuals and businesses.
The world is watching.
Even start-up entrepreneurs can find themselves under the microscope, to varying degrees. You may think your actions go unnoticed, but apps like Secret and social networks like Facebook mean nothing is ever really private anymore, not really.
Customers are watching. Potential investors are watching. They're not as interested in what you say as what you do. Don't disappoint!
"If you never want to be criticized, for goodness' sake don't do anything new."--Jeff Bezos
Grow a thick skin; you're going to need it.
Amazon CEO Jeff Bezos is a tech leader many love to hate--he certainly takes his fair share of criticism, and then some. His company has faced criticism and controversy since its launch, with Bezos' personal business ethics and management style often thrown into the mix.
Still, Amazon has revolutionized the way we shop online. Bezos understands that changing the game invites criticism. And he's okay with that.
If you have a business idea and want to shake up an industry, you'd better get okay with it, too.
"Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don't do it."--Mark Cuban
It may seem like everything Mark Cuban has touched has turned to gold, but his upbringing wasn't exceptional. Cuban grew up in an affluent suburb of Pittsburgh and found his entrepreneurial spirit at just twelve years old, when he sold garbage bags to pay for a pair of shoes he coveted. After earning his B.S. in Business Administration at Indiana University's Kelley School of Business, he did a short stint as a salesperson for a Dallas software retailer--and was fired within a year.
Cuban's first business, MicroSolutions, sold to CompuServe for $6 million. His next venture was exponentially larger and more lucrative. With a partner, he founded Audionet, which would become Broadcast.com in 1998. A year later, in the dot-com boom, it was acquired by Yahoo for $5.7 billion in stock.
The rest, as they say, is history. Cuban has faced his share of controversy over the years, but now owns the Dallas Mavericks and is a star investor on ABC's Shark Tank. Forbes puts his net worth at $2.7 billion, making him the 652nd richest person on the planet.
Cuban loves investing and business. You can't argue that he's not fantastic at it. Do what you do best or don't bother!
Source: www.inc.com
Quote for the day
"The biggest risk is not taking any risk. In a world that's changing really quickly, the only strategy that is guaranteed to fail is not taking risks." Mark Zuckerberg
Friday, 10 October 2014
Quote for the day
“It is nothing short of a miracle that the modern methods of education have not yet entirely strangled the holy curiosity of inquiry… It is a very grave mistake to think that the enjoyment of seeing and searching can be promoted by means of coercion and a sense of duty.” - Albert Einstein
Thursday, 9 October 2014
Quote for the day
“I have a friend who is an economist. He would try to explain to me, as if talking to a child, why what I was trying to do was futile, because 'the markets are efficient.' I have noticed that everyone who has ever told me that the markets are efficient is poor.” - Larry Hite
Wednesday, 8 October 2014
7 Lessons Learned From the World's Richest People
By Drew Hendricks
1. Bill Gates, founder of Microsoft
Don't be afraid of growth. Gates says, "You know, at Microsoft in 1975, even when we wrote down 'A computer on every desk and in every home,' we didn't realize, oh, we'll have to be a big company. Every time, I thought, 'Oh, God, can we double in size?'"
2. Steve Jobs, founder of Apple
"Being the richest man in the cemetery doesn't matter to me. Going to bed at night saying we've done something wonderful, that's what matters to me." This is one of Jobs's most famous quotes, and perhaps the best piece of advice he ever gave. Like Gates, Jobs was committed to changing the world (and his world) for the better. Never losing sight of that vision, regardless of the riches, is crucial.
3. Sylvester Stallone, actor, writer, and director
"I am not the richest, smartest, or most talented person in the world, but I succeed because I keep going and going and going." Judging from Stallone's starting point, nobody would guess he was destined for fame and success. He'd starred in only one "film" before writing, directing, and starring in Rocky (and that predecessor was a low-budget porno), yetRocky is one of the few films to never have received a single negative review. Stallone continues his success today, and still says sheer dedication is what made it happen for him.
4. Aliko Dangote, business magnate
"If you don't have ambition, you shouldn't be alive." These might seem like harsh words at first blush, but Dangote considers ambition the "inner stuff" that makes up a person and what separates our species from all others. Ambition was the driving force behind his success and what he seeks out in partners and employees.
5. Reginald Mengi, chair of IPP Group
"I grew up in poverty, but I always saw it as a challenge. The good thing is that you can surmount a challenge if you are willing to pay the price. The price is hard work." Sometimes the simplest explanation is the most difficult to wrap your head around. Mengi didn't have any opportunities handed to him, but devoted himself to hard work and seeking them out or making his own.
6. Carlos Slim Helú, business mogul
"Competition makes you better, always, always makes you better, even if the competitor wins." Mexico's richest man was always "rich" with advice and the lessons he learned the hard way. However, embracing healthy competition instead of tearing down fellow entrepreneurs was always how Slim did business, even if it wasn't orthodox in the environment where he thrived.
7. Robert Kiyosaki, investor
"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for." If you can't keep the money you earn and make it work for you and your heirs, it's like gambling with chips you can't cash in.
www.inc.com/
Surprisingly, the richest people in the world aren't stingy about sharing their advice for success. After all, they have plenty of wealth to spread around.
If you want to know the "trade secrets" from billionaires around the globe, simply listen or--should you ever get the chance--ask. Many are happy to share the lessons they've learned, the risks they took, and the mistakes they made. Actually digesting that information can help you better angle yourself for success.
If you want to know the "trade secrets" from billionaires around the globe, simply listen or--should you ever get the chance--ask. Many are happy to share the lessons they've learned, the risks they took, and the mistakes they made. Actually digesting that information can help you better angle yourself for success.
1. Bill Gates, founder of Microsoft
Don't be afraid of growth. Gates says, "You know, at Microsoft in 1975, even when we wrote down 'A computer on every desk and in every home,' we didn't realize, oh, we'll have to be a big company. Every time, I thought, 'Oh, God, can we double in size?'"
Obviously, Gates got over his fear of growing a company, but the bigger lesson here is that being a mega corporation was never his goal. He had a passion project, a vision for a better future, and the means (and smarts) to see it through.
2. Steve Jobs, founder of Apple
"Being the richest man in the cemetery doesn't matter to me. Going to bed at night saying we've done something wonderful, that's what matters to me." This is one of Jobs's most famous quotes, and perhaps the best piece of advice he ever gave. Like Gates, Jobs was committed to changing the world (and his world) for the better. Never losing sight of that vision, regardless of the riches, is crucial.
3. Sylvester Stallone, actor, writer, and director
"I am not the richest, smartest, or most talented person in the world, but I succeed because I keep going and going and going." Judging from Stallone's starting point, nobody would guess he was destined for fame and success. He'd starred in only one "film" before writing, directing, and starring in Rocky (and that predecessor was a low-budget porno), yetRocky is one of the few films to never have received a single negative review. Stallone continues his success today, and still says sheer dedication is what made it happen for him.
4. Aliko Dangote, business magnate
"If you don't have ambition, you shouldn't be alive." These might seem like harsh words at first blush, but Dangote considers ambition the "inner stuff" that makes up a person and what separates our species from all others. Ambition was the driving force behind his success and what he seeks out in partners and employees.
5. Reginald Mengi, chair of IPP Group
"I grew up in poverty, but I always saw it as a challenge. The good thing is that you can surmount a challenge if you are willing to pay the price. The price is hard work." Sometimes the simplest explanation is the most difficult to wrap your head around. Mengi didn't have any opportunities handed to him, but devoted himself to hard work and seeking them out or making his own.
6. Carlos Slim Helú, business mogul
"Competition makes you better, always, always makes you better, even if the competitor wins." Mexico's richest man was always "rich" with advice and the lessons he learned the hard way. However, embracing healthy competition instead of tearing down fellow entrepreneurs was always how Slim did business, even if it wasn't orthodox in the environment where he thrived.
7. Robert Kiyosaki, investor
"It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for." If you can't keep the money you earn and make it work for you and your heirs, it's like gambling with chips you can't cash in.
www.inc.com/
The Rise and Fall of Instant Messengers
The internet has transformed our lives in an almost endless number of ways - shopping, news, dating, LOLcats - and one of the most significant has to be connecting people via instant messaging services. But how have IMs changed over the years?
Source: http://www.visualistan.com/
Quote for the day
“Caution is the path to mediocrity. Gliding, passionless mediocrity is all that most people think they can achieve.” - Muad'Dib
Tuesday, 7 October 2014
Quote for the day
“Risk taking is painful. Either you are willing to bear the pain yourself or you try to pass it on to others. Anyone who is in a risk taking business but cannot face the consequences is no good.” - George Soros
Monday, 6 October 2014
The 5 Things That Destroy Traders At All Levels
Hubris: A foolish amount of pride or confidence. No matter how good of a trader you think you are the market is always bigger and you will not win an argument with its price action no matter who you think you are.
Fear: Cutting winners short because of unwarranted fear eliminates all the big wins. Being afraid to take a good entry because of fear of loss creates a loss of a potential profit. We have to do enough homework about our trading methodology to trade our system with confidence.
Laziness: Looking to be given trades instead of doing the work to develop their own system leads to failure. Trades only have meaning inside a robust system consistently followed with discipline and risk management.
Greed: The greedier a new trader is to make a fortune the higher the probability and speed at which they lose their whole trading account. The dark side to going for the huge winning trades with big position sizes is the huge losses when wrong. Money is made in the market through managing risk so you are able to keep the profits from your winning trades. If a trader does not manage risk and position sizing their winning trades are meaningless because they will eventually give back their profits with their starting capital in the longer term.
Fear: Cutting winners short because of unwarranted fear eliminates all the big wins. Being afraid to take a good entry because of fear of loss creates a loss of a potential profit. We have to do enough homework about our trading methodology to trade our system with confidence.
Ego: The desire to be right more than the desire to make money leads to losing money, a lot of money. The ego causes traders to hold losers far too long and to brag themselves into a corner about their own predictions. The best traders are simply slaves to the market’s price action.
Laziness: Looking to be given trades instead of doing the work to develop their own system leads to failure. Trades only have meaning inside a robust system consistently followed with discipline and risk management.
Greed: The greedier a new trader is to make a fortune the higher the probability and speed at which they lose their whole trading account. The dark side to going for the huge winning trades with big position sizes is the huge losses when wrong. Money is made in the market through managing risk so you are able to keep the profits from your winning trades. If a trader does not manage risk and position sizing their winning trades are meaningless because they will eventually give back their profits with their starting capital in the longer term.
Source: newtraderu.com
20 Easy Things That Will Make You the Next Millionaire
By Murray Newlands
Here's everything you need to know in order to make your first million.
While you may be looking to make your first million off of your business alone, the fact of the matter is that becoming a millionaire does not just come about by raking in profits from your business. It arises from the decisions that you make in your day-to-day life as well. There are more millionaires than ever nowadays, and it's not because the financial market is good; in fact, it is pretty common knowledge that the economy has definitely seen better days, and the people able to find success in it know how to act accordingly.
Buy The Things That You Need
Even though one of the reasons people strive to become millionaires is to be able to afford the things that they want to do, living in a house far too big for your needs or shelling out on a vehicle more luxurious than you require is going to set you back in your goals.
Spend Less Than You Earn
This is saving money and accruing wealth 101, but even old advice can be good advice, and such is the case with this.
Make Sure That You Can Pay Off the Things That You Buy
And the quicker you can pay them off, the better! This will enable you to search for a job that you love and will therefore be more conducive to putting you closer to your goals.
Exercising Patience
It may be really tempting to up your quality of living or your lifestyle expectations as you begin accruing more money and assets to make you into a millionaire, but you will not reach your goal by taking some out of the pot.
Utilize Automatic Paycheck Deductions
You cannot spend what you do not have, so having these set up with your bank is going to help you save money better than many other tactics will.
Pay Off Your Credit Cards Every Month
Having a good credit score is always a strong financial situation to be in, but making sure that you can afford what you are spending is even better when you are trying to become a millionaire.
Use Time to Your Advantage
The quicker you start saving, the better. If you begin saving in your twenties or thirties, you will be able to take advantage of compounding interest and put yourself in a better position without having to do much extra work.
Realize That Money Doesn't Buy Happiness
When you are working for a wholesome goal instead of a ploy to satisfy material urges, your goals will come to you faster and easier.
Realize That 'Life Happens'
Having a bit of money on the side separate from your millionaire fund will keep you on a steady track toward that goal; after all, you never know when a financial emergency will rear its ugly head.
Focus on Being Debt Free
Even if you have income coming in every month, if you have any sort of debt, you need to be deducting that from your gain--if it comes out negative, you are not financially free, and will not be able to achieve your millionaire dreams yet. In order to be the next millionaire, you have to make sure that your debts are all paid.
Work Hard And Diligently
If you keep putting in the effort, it will be easier to make amends after a financial mishap.
Get a Second Job
Not only will it add to your savings that much faster, but also if you stay busy you will have no time to spend the money that you are trying to save.
Don't Be Afraid to Have a Big Vision
Most modest savings plans do not end up panning out as the people who made them would have liked. Having a vision larger than what you can currently deliver will actually be the best way to ensure that you meet your goal.
Have Good Money Management Skills
Keep up to date on what you need to know to manage your money, and realize that without good management, it will never grow or mature into what you would like it to be.
Do What You Enjoy
Working in a field you enjoy will be one of the fastest routes to financial freedom and success, as you will spend more time at work and excel at it, putting you in a better position for promotions and pay increases.
Pay Yourself First
This will keep you satisfied and will help you achieve financial success with your goals.
Go Out And Find Your Money
Simply saving and hoping that it will come to you will never be good enough. You will only receive what you earn.
Invest in Yourself
Without furthering your education or professional development, there will be nothing to set you apart from others, and no reason for your employer to aid you in your goals.
Invest in Property When You Do Buy Assets
Having property on hand is always going to be a good asset, as there are always buyers for property and property values are beginning to climb again, healing from the collapse in 2008.
Realize That There Is More Than One Way to Approach a Problem
Being versatile will lead you quickest to the solutions for your problems.
There's certainly no surefire way to becoming a millionaire. After all, if there was, everyone would be making millions. However, if you manage to blend the right business practices with solid personal finance skills, there's no telling where you'll end up. Follow these 20 guidelines, and you, too, can become the next millionaire.
Here's everything you need to know in order to make your first million.
While you may be looking to make your first million off of your business alone, the fact of the matter is that becoming a millionaire does not just come about by raking in profits from your business. It arises from the decisions that you make in your day-to-day life as well. There are more millionaires than ever nowadays, and it's not because the financial market is good; in fact, it is pretty common knowledge that the economy has definitely seen better days, and the people able to find success in it know how to act accordingly.
To become the next millionaire, you will need to blend business practices with responsible financial decisions in order to both maximize profits and squirrel away some cash for the winter. Even though this is easier said than done, the things that you have to do to become the next millionaire are theoretically fairly easy.
Buy The Things That You Need
Even though one of the reasons people strive to become millionaires is to be able to afford the things that they want to do, living in a house far too big for your needs or shelling out on a vehicle more luxurious than you require is going to set you back in your goals.
Spend Less Than You Earn
This is saving money and accruing wealth 101, but even old advice can be good advice, and such is the case with this.
Make Sure That You Can Pay Off the Things That You Buy
And the quicker you can pay them off, the better! This will enable you to search for a job that you love and will therefore be more conducive to putting you closer to your goals.
Exercising Patience
It may be really tempting to up your quality of living or your lifestyle expectations as you begin accruing more money and assets to make you into a millionaire, but you will not reach your goal by taking some out of the pot.
Utilize Automatic Paycheck Deductions
You cannot spend what you do not have, so having these set up with your bank is going to help you save money better than many other tactics will.
Pay Off Your Credit Cards Every Month
Having a good credit score is always a strong financial situation to be in, but making sure that you can afford what you are spending is even better when you are trying to become a millionaire.
Use Time to Your Advantage
The quicker you start saving, the better. If you begin saving in your twenties or thirties, you will be able to take advantage of compounding interest and put yourself in a better position without having to do much extra work.
Realize That Money Doesn't Buy Happiness
When you are working for a wholesome goal instead of a ploy to satisfy material urges, your goals will come to you faster and easier.
Realize That 'Life Happens'
Having a bit of money on the side separate from your millionaire fund will keep you on a steady track toward that goal; after all, you never know when a financial emergency will rear its ugly head.
Focus on Being Debt Free
Even if you have income coming in every month, if you have any sort of debt, you need to be deducting that from your gain--if it comes out negative, you are not financially free, and will not be able to achieve your millionaire dreams yet. In order to be the next millionaire, you have to make sure that your debts are all paid.
Work Hard And Diligently
If you keep putting in the effort, it will be easier to make amends after a financial mishap.
Get a Second Job
Not only will it add to your savings that much faster, but also if you stay busy you will have no time to spend the money that you are trying to save.
Don't Be Afraid to Have a Big Vision
Most modest savings plans do not end up panning out as the people who made them would have liked. Having a vision larger than what you can currently deliver will actually be the best way to ensure that you meet your goal.
Have Good Money Management Skills
Keep up to date on what you need to know to manage your money, and realize that without good management, it will never grow or mature into what you would like it to be.
Do What You Enjoy
Working in a field you enjoy will be one of the fastest routes to financial freedom and success, as you will spend more time at work and excel at it, putting you in a better position for promotions and pay increases.
Pay Yourself First
This will keep you satisfied and will help you achieve financial success with your goals.
Go Out And Find Your Money
Simply saving and hoping that it will come to you will never be good enough. You will only receive what you earn.
Invest in Yourself
Without furthering your education or professional development, there will be nothing to set you apart from others, and no reason for your employer to aid you in your goals.
Invest in Property When You Do Buy Assets
Having property on hand is always going to be a good asset, as there are always buyers for property and property values are beginning to climb again, healing from the collapse in 2008.
Realize That There Is More Than One Way to Approach a Problem
Being versatile will lead you quickest to the solutions for your problems.
There's certainly no surefire way to becoming a millionaire. After all, if there was, everyone would be making millions. However, if you manage to blend the right business practices with solid personal finance skills, there's no telling where you'll end up. Follow these 20 guidelines, and you, too, can become the next millionaire.
Source: http://www.inc.com/
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