From the book by Keith Cameron Smith
(click on link to download)
Saturday, 31 October 2015
Quote for the day
“It is wise to avoid predictions when possible, and to recognize that the scope of accurate prediction making is very limited. Successful macro trading is much less about "knowing" what is going to happen in future, and much more about having a handle on odds, probabilities and scenarios, without growing attached to any single one, and then acting fluidly in the moment as the picture crystallizes in actionable ways.” - Jack Sparrow
CSE - Percentage wise Top 25 Gainers and Losers in October 2015 & YTD
Top 25 Gainers in October 2015
Friday, 30 October 2015
Thursday, 29 October 2015
Quote for the day
“I'm not sure one can really define why some traders make it, while others do not. For myself, I can think of two important elements. First, I have the ability to imagine configurations of the world different from today and really believe it can happen... Second, I stay rational and disciplined under pressure.” - Bruce Kovner
Wednesday, 28 October 2015
Tuesday, 27 October 2015
11 Ways Emotionally Intelligent People Overcome Uncertainty
By Dr. Travis Bradberry
Our brains are hardwired to make much of modern life difficult. This is especially true when it comes to dealing with uncertainty. On the bright side, if you know the right tricks, you can override your brain's irrational tendencies and handle uncertainty effectively.
Our brains give us fits when facing uncertainty because they're wired to react to it with fear. In a recent study, a Caltech neuroeconomist imaged subjects' brains as they were forced to make increasingly uncertain bets—the same kind of bets we're forced to make on a regular basis in business.
The less information the subjects had to go on, the more irrational and erratic their decisions became. You might think the opposite would be true—the less information we have, the more careful and rational we are in evaluating the validity of that information. Not so. As the uncertainty of the scenarios increased, the subjects' brains shifted control over to the limbic system, the place where emotions, such as anxiety and fear, are generated.
This brain quirk worked great eons ago, when cavemen entered an unfamiliar area and didn't know who or what might be lurking behind the bushes. Overwhelming caution and fear ensured survival. But that's not the case today. This mechanism, which hasn't evolved, is a hindrance in the world of business, where uncertainty rules and important decisions must be made every day with minimal information.
As we face uncertainty, our brains push us to overreact. Successful people are able to override this mechanism and shift their thinking in a rational direction. This requires emotional intelligence (EQ), and it's no wonder that—among the 1 million-plus people that TalentSmart has tested—90% of top performers have high EQs. They earn an average of $28,000 more per year than their low-EQ counterparts do.
To boost your EQ, you have to get good at making sound decisions in the face of uncertainty, even when your brain fights against this. Fear not! There are proven strategies that you can use to improve the quality of your decisions when your emotions are clouding your judgment. What follows are eleven of the best strategies that successful people use in these moments.
They quiet their limbic systems
The limbic system responds to uncertainty with a knee-jerk fear reaction, and fear inhibits good decision-making. People who are good at dealing with uncertainty are wary of this fear and spot it as soon as it begins to surface. In this way, they can contain it before it gets out of control. Once they are aware of the fear, they label all the irrational thoughts that try to intensify it as irrational fears—not reality—and the fear subsides. Then they can focus more accurately and rationally on the information they have to go on. Throughout the process, they remind themselves that a primitive part of their brain is trying to take over and that the logical part needs to be the one in charge. In other words, they tell their limbic system to settle down and be quiet until a hungry tiger shows up.
They stay positive
Positive thoughts quiet fear and irrational thinking by focusing your brain's attention on something that is completely stress-free. You have to give your wandering brain a little help by consciously selecting something positive to think about. Any positive thought will do to refocus your attention. When things are going well and your mood is good, this is relatively easy. When you're stressing over a tough decision and your mind is flooded with negative thoughts, this can be a challenge. In these moments, think about your day, and identify one positive thing that happened, no matter how small. If you can't think of anything from the current day, reflect on the previous day or days or even the previous week, or perhaps you're looking forward to an exciting event. The point here is that you must have something positive that you're ready to shift your attention to when your thoughts turn negative due to the stress of uncertainty.
They know what they know—and what they don't
When uncertainty makes a decision difficult, it's easy to feel as if everything is uncertain, but that's hardly ever the case. People who excel at managing uncertainty start by taking stock of what they know and what they don't know and assigning a factor of importance to each. They gather all the facts they have, and they take their best shot at compiling a list of things they don't know, for example, what a country's currency is going to do or what strategy a competitor will employ. They actually try to identify as many of these things as possible because this takes away their power.
They embrace that which they can't control
We all like to be in control. After all, people who feel like they're at the mercy of their surroundings never get anywhere in life. But this desire for control can backfire when you see everything that you can't control or don't know as a personal failure. People who excel at managing uncertainty aren't afraid to acknowledge what's causing it. In other words, successful people live in the real world. They don't paint any situation as better or worse than it actually is, and they analyse the facts for what they are. They know that the only thing they really control is the process through which they reach their decisions. That's the only rational way to handle the unknown, and the best way to keep your head on level ground. Don't be afraid to step up and say, “Here's what we don't know, but we're going forward based on what we do know. We may make mistakes, but that's a lot better than standing still.”
They focus only on what matters
Some decisions can make or break your company. Most just aren't that important. The people who are the best at making decisions in the face of uncertainty don't waste their time getting stuck on decisions where the biggest risk is looking foolish in front of their co-workers. When it comes down to it, almost every decision contains at least a small factor of uncertainty—it's an inevitable part of doing business. Learning to properly balance the many decisions on your plate, however, allows you to focus your energy on the things that matter and to make more informed choices. It also removes the unnecessary pressure and distraction caused by a flurry of small worries.
They don't seek perfection
Emotionally intelligent people don't set perfection as their target because they know there's no such thing as a perfect decision in an uncertain situation. Think about it: human beings, by our very nature, are fallible. When perfection is your goal, you're always left with a nagging sense of failure, and you end up spending your time lamenting what you failed to accomplish and what you should have done differently, instead of enjoying what you were able to achieve.
They don't dwell on problems
Where you focus your attention determines your emotional state. When you fixate on the problems that you're facing, you create and prolong negative emotions and stress, which hinders performance. When you focus on actions to better yourself and your circumstances, you create a sense of personal efficacy that produces positive emotions and improves performance. Emotionally intelligent people don’t allow themselves to become preoccupied with the uncertainties they face. Instead, they focus all their attention and effort on what they can do, in spite of the uncertainty, to better their situation.
They know when to trust their gut
Our ancestors relied on their intuition—their gut instinct—for survival. Since most of us don’t face life-or-death decisions every day, we have to learn how to use this instinct to our benefit. Often we make the mistake of talking ourselves out of listening to our gut instinct, or we go too far in the other direction and impulsively dive into a situation, mistaking our assumptions for instincts. People who successfully deal with uncertainty recognize and embrace the power of their gut instincts, and they rely on some tried-and-true strategies to do so successfully:
They recognize their own filters. They're able to identify when they’re being overly influenced by their assumptions and emotions or by another person’s opinion, for example. Their ability to filter out the feelings that aren't coming from their intuition helps them focus on what is.
They give their intuition some space. Gut instincts can't be forced. Our intuition works best when we're not pressuring it to come up with a solution. Albert Einstein said he got his best ideas while sailing, and when Steve Jobs was faced with a tough problem, he’d head out for a walk.
They build a track record. People who deal well with uncertainty take the time to practice their intuition. They start by listening to their gut on small things and seeing how it goes so that they’ll know whether they can trust it when something big comes around.
They have contingency plans . . .
Staying on top of uncertainty is as much about planning for failure as it is about hoping for the best. Experts at handling uncertainty aren't afraid to admit that they could be wrong, and that frees them up to make detailed, rational, and transparent contingency plans before taking action. Successful people know they aren't always going to make the right decision. They know how to absorb and understand mistakes so that they can make better decisions in the future. And they never let mistakes get them down for too long.
. . . but they don't ask, “What if?”
“What if?” statements throw fuel on the fire of stress and worry, and there's no place for them in your thinking once you have good contingency plans in place. Things can go in a million different directions, and the more time you spend worrying about the possibilities, the less time you'll spend focusing on taking action that will calm you down and keep your stress under control. Successful people know that asking “what if?” will only take them to a place they don't want, or need, to go to.
When all else fails, they breathe
You have to remain calm to make good decisions in the face of uncertainty. An easy way to do this lies in something that you have to do every day anyway—breathing. The practice of being in the moment with your breathing trains your brain to focus solely on the task at hand and quiets distracting thoughts. When you're feeling overwhelmed, take a couple of minutes to focus on your breathing. Close the door, put away all other distractions, and just sit in a chair and breathe. The goal is to spend the entire time focused only on your breathing, which will prevent your mind from wandering. Think about how it feels to breathe in and out. This sounds simple, but it's hard to do for more than a minute or two. It's all right if you get sidetracked by another thought—this is sure to happen at the beginning—and you just need to bring your focus back to your breathing. If staying focused on your breathing proves to be a real struggle, try counting each breath in and out until you get to twenty, and then start again from one. Don't worry if you lose count; you can always just start over. This task may seem too easy or even a little silly, but you'll be surprised by how calm you feel afterward and how much easier it is to let go of distracting thoughts that otherwise seem to lodge permanently inside your brain.
Bringing It All Together
The ability to strategically manage ambiguity is one of the most important skills you can cultivate in an increasingly uncertain business environment. Try the strategies above, and your ability to handle uncertainty will take a huge step in the right direction.
Our brains give us fits when facing uncertainty because they're wired to react to it with fear. In a recent study, a Caltech neuroeconomist imaged subjects' brains as they were forced to make increasingly uncertain bets—the same kind of bets we're forced to make on a regular basis in business.
The less information the subjects had to go on, the more irrational and erratic their decisions became. You might think the opposite would be true—the less information we have, the more careful and rational we are in evaluating the validity of that information. Not so. As the uncertainty of the scenarios increased, the subjects' brains shifted control over to the limbic system, the place where emotions, such as anxiety and fear, are generated.
This brain quirk worked great eons ago, when cavemen entered an unfamiliar area and didn't know who or what might be lurking behind the bushes. Overwhelming caution and fear ensured survival. But that's not the case today. This mechanism, which hasn't evolved, is a hindrance in the world of business, where uncertainty rules and important decisions must be made every day with minimal information.
As we face uncertainty, our brains push us to overreact. Successful people are able to override this mechanism and shift their thinking in a rational direction. This requires emotional intelligence (EQ), and it's no wonder that—among the 1 million-plus people that TalentSmart has tested—90% of top performers have high EQs. They earn an average of $28,000 more per year than their low-EQ counterparts do.
To boost your EQ, you have to get good at making sound decisions in the face of uncertainty, even when your brain fights against this. Fear not! There are proven strategies that you can use to improve the quality of your decisions when your emotions are clouding your judgment. What follows are eleven of the best strategies that successful people use in these moments.
They quiet their limbic systems
The limbic system responds to uncertainty with a knee-jerk fear reaction, and fear inhibits good decision-making. People who are good at dealing with uncertainty are wary of this fear and spot it as soon as it begins to surface. In this way, they can contain it before it gets out of control. Once they are aware of the fear, they label all the irrational thoughts that try to intensify it as irrational fears—not reality—and the fear subsides. Then they can focus more accurately and rationally on the information they have to go on. Throughout the process, they remind themselves that a primitive part of their brain is trying to take over and that the logical part needs to be the one in charge. In other words, they tell their limbic system to settle down and be quiet until a hungry tiger shows up.
They stay positive
Positive thoughts quiet fear and irrational thinking by focusing your brain's attention on something that is completely stress-free. You have to give your wandering brain a little help by consciously selecting something positive to think about. Any positive thought will do to refocus your attention. When things are going well and your mood is good, this is relatively easy. When you're stressing over a tough decision and your mind is flooded with negative thoughts, this can be a challenge. In these moments, think about your day, and identify one positive thing that happened, no matter how small. If you can't think of anything from the current day, reflect on the previous day or days or even the previous week, or perhaps you're looking forward to an exciting event. The point here is that you must have something positive that you're ready to shift your attention to when your thoughts turn negative due to the stress of uncertainty.
They know what they know—and what they don't
When uncertainty makes a decision difficult, it's easy to feel as if everything is uncertain, but that's hardly ever the case. People who excel at managing uncertainty start by taking stock of what they know and what they don't know and assigning a factor of importance to each. They gather all the facts they have, and they take their best shot at compiling a list of things they don't know, for example, what a country's currency is going to do or what strategy a competitor will employ. They actually try to identify as many of these things as possible because this takes away their power.
They embrace that which they can't control
We all like to be in control. After all, people who feel like they're at the mercy of their surroundings never get anywhere in life. But this desire for control can backfire when you see everything that you can't control or don't know as a personal failure. People who excel at managing uncertainty aren't afraid to acknowledge what's causing it. In other words, successful people live in the real world. They don't paint any situation as better or worse than it actually is, and they analyse the facts for what they are. They know that the only thing they really control is the process through which they reach their decisions. That's the only rational way to handle the unknown, and the best way to keep your head on level ground. Don't be afraid to step up and say, “Here's what we don't know, but we're going forward based on what we do know. We may make mistakes, but that's a lot better than standing still.”
They focus only on what matters
Some decisions can make or break your company. Most just aren't that important. The people who are the best at making decisions in the face of uncertainty don't waste their time getting stuck on decisions where the biggest risk is looking foolish in front of their co-workers. When it comes down to it, almost every decision contains at least a small factor of uncertainty—it's an inevitable part of doing business. Learning to properly balance the many decisions on your plate, however, allows you to focus your energy on the things that matter and to make more informed choices. It also removes the unnecessary pressure and distraction caused by a flurry of small worries.
They don't seek perfection
Emotionally intelligent people don't set perfection as their target because they know there's no such thing as a perfect decision in an uncertain situation. Think about it: human beings, by our very nature, are fallible. When perfection is your goal, you're always left with a nagging sense of failure, and you end up spending your time lamenting what you failed to accomplish and what you should have done differently, instead of enjoying what you were able to achieve.
They don't dwell on problems
Where you focus your attention determines your emotional state. When you fixate on the problems that you're facing, you create and prolong negative emotions and stress, which hinders performance. When you focus on actions to better yourself and your circumstances, you create a sense of personal efficacy that produces positive emotions and improves performance. Emotionally intelligent people don’t allow themselves to become preoccupied with the uncertainties they face. Instead, they focus all their attention and effort on what they can do, in spite of the uncertainty, to better their situation.
They know when to trust their gut
Our ancestors relied on their intuition—their gut instinct—for survival. Since most of us don’t face life-or-death decisions every day, we have to learn how to use this instinct to our benefit. Often we make the mistake of talking ourselves out of listening to our gut instinct, or we go too far in the other direction and impulsively dive into a situation, mistaking our assumptions for instincts. People who successfully deal with uncertainty recognize and embrace the power of their gut instincts, and they rely on some tried-and-true strategies to do so successfully:
They recognize their own filters. They're able to identify when they’re being overly influenced by their assumptions and emotions or by another person’s opinion, for example. Their ability to filter out the feelings that aren't coming from their intuition helps them focus on what is.
They give their intuition some space. Gut instincts can't be forced. Our intuition works best when we're not pressuring it to come up with a solution. Albert Einstein said he got his best ideas while sailing, and when Steve Jobs was faced with a tough problem, he’d head out for a walk.
They build a track record. People who deal well with uncertainty take the time to practice their intuition. They start by listening to their gut on small things and seeing how it goes so that they’ll know whether they can trust it when something big comes around.
They have contingency plans . . .
Staying on top of uncertainty is as much about planning for failure as it is about hoping for the best. Experts at handling uncertainty aren't afraid to admit that they could be wrong, and that frees them up to make detailed, rational, and transparent contingency plans before taking action. Successful people know they aren't always going to make the right decision. They know how to absorb and understand mistakes so that they can make better decisions in the future. And they never let mistakes get them down for too long.
. . . but they don't ask, “What if?”
“What if?” statements throw fuel on the fire of stress and worry, and there's no place for them in your thinking once you have good contingency plans in place. Things can go in a million different directions, and the more time you spend worrying about the possibilities, the less time you'll spend focusing on taking action that will calm you down and keep your stress under control. Successful people know that asking “what if?” will only take them to a place they don't want, or need, to go to.
When all else fails, they breathe
You have to remain calm to make good decisions in the face of uncertainty. An easy way to do this lies in something that you have to do every day anyway—breathing. The practice of being in the moment with your breathing trains your brain to focus solely on the task at hand and quiets distracting thoughts. When you're feeling overwhelmed, take a couple of minutes to focus on your breathing. Close the door, put away all other distractions, and just sit in a chair and breathe. The goal is to spend the entire time focused only on your breathing, which will prevent your mind from wandering. Think about how it feels to breathe in and out. This sounds simple, but it's hard to do for more than a minute or two. It's all right if you get sidetracked by another thought—this is sure to happen at the beginning—and you just need to bring your focus back to your breathing. If staying focused on your breathing proves to be a real struggle, try counting each breath in and out until you get to twenty, and then start again from one. Don't worry if you lose count; you can always just start over. This task may seem too easy or even a little silly, but you'll be surprised by how calm you feel afterward and how much easier it is to let go of distracting thoughts that otherwise seem to lodge permanently inside your brain.
Bringing It All Together
The ability to strategically manage ambiguity is one of the most important skills you can cultivate in an increasingly uncertain business environment. Try the strategies above, and your ability to handle uncertainty will take a huge step in the right direction.
Source: http://www.talentsmart.com/
Quote for the day
“Asset prices are often set to allow for the risks that people are aware of. It's the ones they haven't thought of that can knock the market for a loop.” - Howard Marks
Monday, 26 October 2015
Quote for the day
“ Every security or asset is a ‘buy’ at one price, a ‘hold’ at a higher price and a ‘sell’ at some still higher price.” - Seth Klarman
Sunday, 25 October 2015
Quote for the day
“Volatility is greatest at turning points, and diminishes as a [new] trend is established.” - George Soros
Saturday, 24 October 2015
Quote for the day
"Much of the stress that people feel doesn't come from having too much to do. It comes from not finishing what they've started." - David Allen
Friday, 23 October 2015
23-Oct-2015 CSE Trade Summary
Click here to download 23-Oct-2015
Trade Summary csv File
52 week high and low prices reached in today's trading session
Crossings - 23/10/2015 & Top 10 Contributors to Change ASPI
Top 10 Gainer / Loser / Turnover / Volume for the day
Top 10 Foreign Activity for the Day
Top 10 Foreign Activity for the Week
Quote for the day
“The power to hold on is characteristic of all men who have accomplished anything great; they may lack in some other particular, have many weaknesses or eccentricities, but the quality of persistence is never absent from a successful man. No matter what opposition he meets or what discouragement overtakes him, drudgery cannot disgust him, obstacles cannot discourage him, labour cannot weary him; misfortune, sorrow, and reverses cannot harm him.” - Orison Swett Marden
Thursday, 22 October 2015
Quote for the day
“Only those with narrow minds fail to see that the definition of impossible is "Lack of imagination and incentive."” - Serena Butler
Wednesday, 21 October 2015
Quote for the day
“Value investing requires deep reservoirs of patience and discipline.” - Seth Klarman
Tuesday, 20 October 2015
Quote for the day
“ Successful investors tend to be unemotional, allowing the greed and fear of others to play into their hands.” - Seth Klarman
Monday, 19 October 2015
Quote for the day
“I believe that a simple and unassuming manner of life is best for everyone, best both for the body and the mind.” - Albert Einstein
Sunday, 18 October 2015
Quote for the day
“Everyone knows that if you reach into a bag containing both black and white balls and pull out ten white ones in a row, the probability has increased that the next one will be black. But in the investment world, events like that serve to convince people that there are only white balls - favorable outcomes - in the bag. That's part of the illogical, emotional thinking that makes for bull markets and bubbles.” - Howard Marks
Saturday, 17 October 2015
10 Lists to Keep If You Want to Be Successful
By Djordie Todorovic
The human mind is truly incredible, and we should all strive towards creating a tenacious memory we can rely on. Many lucrative professions or hobbies require such a trait—actors, musicians, artists and entertainers in general do countless drills, just so the required information can be embedded in the memory with certainty. Clearly numerous doors that lead to a successful future are unlocked if one has a great memory. Although beneficial, it is not an essential ingredient within the success formula—what you lack in memory can always be compensated with diligence.
Keeping track of crucial elements in your life through list-making is still an unrivaled tactic for counterbalancing feeble recollection. By utilizing constant reminders, we can have significantly greater organization, we won’t be under the impression we have forgotten something, and we will have a clear insight into which task has a stamp of immediacy attached to it. Here are ten suggested lists that warrant implementation, in order to track achievements and nurture ambition.
1. List of Goals
“What you get by achieving your goals is not as important as what you become by achieving your goals.” - Zig Ziglar
Goals and ambition is what drives us and motivates us, but we need to ask ourselves what is it that we want in order to feel truly accomplished. Your list of goals should consists of all the items that you deem are necessary to truly respect yourself. It can be financial stability, a place you can call your own, starting your family, being independent, etc. People have different criteria when it comes to goals, and this list in particular is ever-growing; it changes as you mature, but it always feels great when you cross something out of it. Without such a list, you lose direction of where your life is heading, and we all need some inner guidance to focus on—a good reason to get up in the morning.
2. List of Tasks
“Happiness does not come from doing easy work but from the afterglow of satisfaction that comes after the achievement of a difficult task that demanded our best.” - Theodore Isaac Rubin
Tasks are actually milestones on the road to goal completion, and these lists have a tendency to become quite copious. New tasks emerge on a daily basis, regardless of whether you are an employee, a student, or a freelancer. Despite the fact that they are arduous, we always have some sense of achievement once the task is complete, or when a certain problem is solved. By avoiding to make such lists and lists of our daily tasks, they’ll simply pile up and eventually become a hindrance.
In the event you have larger tasks that need more than a day, a week or a month before they can be completed, then break those tasks into smaller daily assignments, and put them on the list as well. As long as you monitor larger tasks while completing minor daily milestones, you will have a greater grip on progression and continuous source of motivation. List and sticky notes are actually quite potent tools for increase in productivity, especially while we are working from home.
Lastly, it is worth mentioning that you should also have a list of personal tasks, or tasks you do for the sake of self-fulfillment. These are related to your personal goals, and governing passions—writing a book, painting, crafting etc. These tasks will define you and offer a much greater sense of achievement, so give it your all to create something you can be proud of.
3. List of Contacts
“Wishing to be friends is quick work, but friendship is a slow ripening fruit.” - Aristotle
It would be delusional to assume you can make it all on your own; however, at the same time, a flawed partnership can result in disastrous outcome as well. It is extremely difficult to find compatible allies and contacts, since friends and family—in other words, people close to you—may not be the best choice for a business partner. If you want to enter into a partnership with someone, make sure the person shares the same vision. Tread lightly and try to ascertain your potential partner’s level of reliability.
Throughout life, we come across skillful, capable and talented people, whose competence might be needed in the future, depending on your line of work of course. Do not be hesitant to offer a helping hand when they are in need, since you can gain a valuable contact. The point being: make a special list of all important contacts, like reliable programmers, handymen, lawyers, etc. Remember not to only reach out when you are in need. You need to maintain a healthy and natural relationship and be there for those people if they require your assistance. Truth be told, it can be arduous to forge strong friendship bonds, but having important acquaintances and becoming an important acquaintance is very much possible.
Without such a list, you are leaving yourself vulnerable to possible future complications; moreover, make sure this list is well-kept since once you lose a contact like this one, it can be somewhat troublesome to recover such data. Just be sure you have recovery data tools at your disposal to mitigate the damage if something were to happen to your phone.
5. List of Useful Tools
“If you’re the type of person who has to fulfill your dreams, you've got to be resourceful to make sure you can do it.” - Vin Diesel
Today’s society vastly depends on the use of technology—we exchange information, conduct calculations, measure time, etc. This level of reliability also suggests liability. If something were to happen to our cell phone or personal computer, it would be a sizable setback that could harm our capabilities severely. As mentioned, losing contacts can truly be troublesome. It is even worse however, to have your life’s work lost and compromised.
Useful tools are not only limited to recovering damage; they also encompass tools that make your job easier. With efficiency and a greater level of competence, you are a step closer toward success. Using the right apps and tools can make up for our lack of skills in a particular area, or simply help us manage our work in a more timely manner. Keeping a list of useful tools will come in handy whenever you are faced with more common problems, like finding a good restaurant for a business dinner, driving through unfamiliar terrain, task management, learning, and there are even tools capable of helping you recover stolen property.
Even though the list is not as crucial as the ones mentioned so far, it is undeniable that having it can save you a lot of time if the need for it ever arises. The Internet is a vast sea of both useful and useless tools, and by filtering out those that are irrelevant, you won’t have to conduct countless searches when you are in need of adequate tools for problem solving.
6. List of Self Improvements
“The minute that you’re not learning I believe you’re dead.” - Jack Nicholson
Reasonable to assume this one is unavoidable, and it always deserves to be mentioned. It is safe to assume we are all aware of our shortcomings; if not all of them at least some of them. Think about yourself, make a list of all the things you would like to improve or change, then consider how to implement those changes. Despite the fact that those who are close to you do not pressure you into changing or improving, you should always make constant endeavours to do so, for your own sake.
The list of improvements should consist of physical changes, changes spiritual in nature, abandoning bad habits etc. No one expects you to change entirely in a short time period, but making a decision to change one thing on a yearly basis is a viable resolution, quite easy to execute. The list is there simply to remind you which improvement to prioritize, and build up your confidence after each completion. Refusing to change can either result in lack of confidence and depression, or becoming an overconfident and self-absorbed person that no one will tolerate for long; both of these traits are contradictory to your quest for a successful future.
The human mind is truly incredible, and we should all strive towards creating a tenacious memory we can rely on. Many lucrative professions or hobbies require such a trait—actors, musicians, artists and entertainers in general do countless drills, just so the required information can be embedded in the memory with certainty. Clearly numerous doors that lead to a successful future are unlocked if one has a great memory. Although beneficial, it is not an essential ingredient within the success formula—what you lack in memory can always be compensated with diligence.
Keeping track of crucial elements in your life through list-making is still an unrivaled tactic for counterbalancing feeble recollection. By utilizing constant reminders, we can have significantly greater organization, we won’t be under the impression we have forgotten something, and we will have a clear insight into which task has a stamp of immediacy attached to it. Here are ten suggested lists that warrant implementation, in order to track achievements and nurture ambition.
1. List of Goals
“What you get by achieving your goals is not as important as what you become by achieving your goals.” - Zig Ziglar
Goals and ambition is what drives us and motivates us, but we need to ask ourselves what is it that we want in order to feel truly accomplished. Your list of goals should consists of all the items that you deem are necessary to truly respect yourself. It can be financial stability, a place you can call your own, starting your family, being independent, etc. People have different criteria when it comes to goals, and this list in particular is ever-growing; it changes as you mature, but it always feels great when you cross something out of it. Without such a list, you lose direction of where your life is heading, and we all need some inner guidance to focus on—a good reason to get up in the morning.
2. List of Tasks
“Happiness does not come from doing easy work but from the afterglow of satisfaction that comes after the achievement of a difficult task that demanded our best.” - Theodore Isaac Rubin
Tasks are actually milestones on the road to goal completion, and these lists have a tendency to become quite copious. New tasks emerge on a daily basis, regardless of whether you are an employee, a student, or a freelancer. Despite the fact that they are arduous, we always have some sense of achievement once the task is complete, or when a certain problem is solved. By avoiding to make such lists and lists of our daily tasks, they’ll simply pile up and eventually become a hindrance.
In the event you have larger tasks that need more than a day, a week or a month before they can be completed, then break those tasks into smaller daily assignments, and put them on the list as well. As long as you monitor larger tasks while completing minor daily milestones, you will have a greater grip on progression and continuous source of motivation. List and sticky notes are actually quite potent tools for increase in productivity, especially while we are working from home.
Lastly, it is worth mentioning that you should also have a list of personal tasks, or tasks you do for the sake of self-fulfillment. These are related to your personal goals, and governing passions—writing a book, painting, crafting etc. These tasks will define you and offer a much greater sense of achievement, so give it your all to create something you can be proud of.
3. List of Contacts
“Wishing to be friends is quick work, but friendship is a slow ripening fruit.” - Aristotle
It would be delusional to assume you can make it all on your own; however, at the same time, a flawed partnership can result in disastrous outcome as well. It is extremely difficult to find compatible allies and contacts, since friends and family—in other words, people close to you—may not be the best choice for a business partner. If you want to enter into a partnership with someone, make sure the person shares the same vision. Tread lightly and try to ascertain your potential partner’s level of reliability.
Throughout life, we come across skillful, capable and talented people, whose competence might be needed in the future, depending on your line of work of course. Do not be hesitant to offer a helping hand when they are in need, since you can gain a valuable contact. The point being: make a special list of all important contacts, like reliable programmers, handymen, lawyers, etc. Remember not to only reach out when you are in need. You need to maintain a healthy and natural relationship and be there for those people if they require your assistance. Truth be told, it can be arduous to forge strong friendship bonds, but having important acquaintances and becoming an important acquaintance is very much possible.
Without such a list, you are leaving yourself vulnerable to possible future complications; moreover, make sure this list is well-kept since once you lose a contact like this one, it can be somewhat troublesome to recover such data. Just be sure you have recovery data tools at your disposal to mitigate the damage if something were to happen to your phone.
4. List of Expenses
“A wise person should have money in their head, but not in their heart.” - Jonathan Swift
This may be a quite mundane piece of advice, yet it is very often neglected. As we all know, there are two types of expenses: those that are necessary, (bills, taxes, food) and those expenditures used for indulging some personal cravings. There is a degree of restraint that the majority of us lack in order to approach the matter with a satisfying level of prudence. To say it bluntly, we treat our wants like our needs, and necessities and primary obligations are pushed in the background. Of course, this may sound a bit exaggerated, but the truth is the pressure of a consumer’s culture eventually becomes overwhelming, resulting in a purchase we shouldn’t be able to afford at the time. This kind of behavior can be avoided by utilizing lists, and turning them into an omnipresent reminder of what is truly important.
By making lists of all the monthly expenses we are obligated to pay, we’ll have a clear overview with how much resources are there at our disposal. On the other hand, without this list filled with meticulous calculations, we are prone to believing that we have more freedom to engage in a shopping spree, ultimately causing our bills to pile up; thus, we end up a step closer to a financial suicide. Handling finances properly, or the fact that we prioritize the costs of living, is a responsibility that signifies maturity. Success is commonly measured by the amount of wealth and without adequate spending tactics, you prevent its accumulation.
“A wise person should have money in their head, but not in their heart.” - Jonathan Swift
This may be a quite mundane piece of advice, yet it is very often neglected. As we all know, there are two types of expenses: those that are necessary, (bills, taxes, food) and those expenditures used for indulging some personal cravings. There is a degree of restraint that the majority of us lack in order to approach the matter with a satisfying level of prudence. To say it bluntly, we treat our wants like our needs, and necessities and primary obligations are pushed in the background. Of course, this may sound a bit exaggerated, but the truth is the pressure of a consumer’s culture eventually becomes overwhelming, resulting in a purchase we shouldn’t be able to afford at the time. This kind of behavior can be avoided by utilizing lists, and turning them into an omnipresent reminder of what is truly important.
By making lists of all the monthly expenses we are obligated to pay, we’ll have a clear overview with how much resources are there at our disposal. On the other hand, without this list filled with meticulous calculations, we are prone to believing that we have more freedom to engage in a shopping spree, ultimately causing our bills to pile up; thus, we end up a step closer to a financial suicide. Handling finances properly, or the fact that we prioritize the costs of living, is a responsibility that signifies maturity. Success is commonly measured by the amount of wealth and without adequate spending tactics, you prevent its accumulation.
5. List of Useful Tools
“If you’re the type of person who has to fulfill your dreams, you've got to be resourceful to make sure you can do it.” - Vin Diesel
Today’s society vastly depends on the use of technology—we exchange information, conduct calculations, measure time, etc. This level of reliability also suggests liability. If something were to happen to our cell phone or personal computer, it would be a sizable setback that could harm our capabilities severely. As mentioned, losing contacts can truly be troublesome. It is even worse however, to have your life’s work lost and compromised.
Useful tools are not only limited to recovering damage; they also encompass tools that make your job easier. With efficiency and a greater level of competence, you are a step closer toward success. Using the right apps and tools can make up for our lack of skills in a particular area, or simply help us manage our work in a more timely manner. Keeping a list of useful tools will come in handy whenever you are faced with more common problems, like finding a good restaurant for a business dinner, driving through unfamiliar terrain, task management, learning, and there are even tools capable of helping you recover stolen property.
Even though the list is not as crucial as the ones mentioned so far, it is undeniable that having it can save you a lot of time if the need for it ever arises. The Internet is a vast sea of both useful and useless tools, and by filtering out those that are irrelevant, you won’t have to conduct countless searches when you are in need of adequate tools for problem solving.
6. List of Self Improvements
“The minute that you’re not learning I believe you’re dead.” - Jack Nicholson
Reasonable to assume this one is unavoidable, and it always deserves to be mentioned. It is safe to assume we are all aware of our shortcomings; if not all of them at least some of them. Think about yourself, make a list of all the things you would like to improve or change, then consider how to implement those changes. Despite the fact that those who are close to you do not pressure you into changing or improving, you should always make constant endeavours to do so, for your own sake.
The list of improvements should consist of physical changes, changes spiritual in nature, abandoning bad habits etc. No one expects you to change entirely in a short time period, but making a decision to change one thing on a yearly basis is a viable resolution, quite easy to execute. The list is there simply to remind you which improvement to prioritize, and build up your confidence after each completion. Refusing to change can either result in lack of confidence and depression, or becoming an overconfident and self-absorbed person that no one will tolerate for long; both of these traits are contradictory to your quest for a successful future.
7. List of Creative Ideas
“Do not go where the path may lead, go instead where there is no path and leave a trail.”
- Waldo Emerson
Throughout history, people who made the most significant impact on the world were those with a revolutionary way of thinking, those who dared to challenge the established order and alter the status quo. For an idea to be classified as creative, it needs to be new, it needs to make sense, and it needs to have some sort of use. For example, creating something to help the disabled communicate online, or simply type—that way, people who have lost their limbs could blog or become creative writers, and show the world a piece of their mind. Thus a keyboard in a form of braces could enable them to type using their tongue; however I am not an engineer, so I do not know whether something like this is possible.
Whenever a new idea comes to your mind write it down, then browse the web to see if you indeed have stumbled upon something ground-breaking. Once your list has grown, then you need to start pondering on the subject to see whether it holds closer scrutiny. Ask for a second opinion and see what you would need to realize your idea. In a majority of cases, this is how successful people are created. Rest assured that it is very possible that people won’t be impressed with your creativity as much as you are, but do not allow yourself to be discouraged—after all, perseverance has a crucial role in a career as well. Monitoring your thoughts incites productive thinking and hones your focus; it keeps our mind occupied. Letting your good ideas slide is only a wasted potential that will put your progress in a halt.
“Do not go where the path may lead, go instead where there is no path and leave a trail.”
- Waldo Emerson
Throughout history, people who made the most significant impact on the world were those with a revolutionary way of thinking, those who dared to challenge the established order and alter the status quo. For an idea to be classified as creative, it needs to be new, it needs to make sense, and it needs to have some sort of use. For example, creating something to help the disabled communicate online, or simply type—that way, people who have lost their limbs could blog or become creative writers, and show the world a piece of their mind. Thus a keyboard in a form of braces could enable them to type using their tongue; however I am not an engineer, so I do not know whether something like this is possible.
Whenever a new idea comes to your mind write it down, then browse the web to see if you indeed have stumbled upon something ground-breaking. Once your list has grown, then you need to start pondering on the subject to see whether it holds closer scrutiny. Ask for a second opinion and see what you would need to realize your idea. In a majority of cases, this is how successful people are created. Rest assured that it is very possible that people won’t be impressed with your creativity as much as you are, but do not allow yourself to be discouraged—after all, perseverance has a crucial role in a career as well. Monitoring your thoughts incites productive thinking and hones your focus; it keeps our mind occupied. Letting your good ideas slide is only a wasted potential that will put your progress in a halt.
8. List of Future Plans
“The future is uncertain but the end is always near.” - Jim Morrison
We have all heard statements like “Tomorrow is a mystery,” “Live for today,” and “You can’t affect the future.” Personally, I heavily disagree with such a point of view. Although I do agree that, in particular circumstances, making plans for the future is doing Sisyphus work, not planning it at all seems utterly mortifying. I also believe that everyone makes some sort of plan; the problem is this fear of uncertainty that thwarts our will to act.
To make your resolve more adamant, compile a list of your future plans, see what you need in order to make them come true. This one is very similar to the first list—the one with goals; the difference is, it does not have to involve your personal future. Rather, it is list of upcoming important events, important changes in law, or upcoming trends, useful software, etc. It will keep you well-informed and prepared, since staying updated and relevant are essential virtues for lucrative businessmen.
“The future is uncertain but the end is always near.” - Jim Morrison
We have all heard statements like “Tomorrow is a mystery,” “Live for today,” and “You can’t affect the future.” Personally, I heavily disagree with such a point of view. Although I do agree that, in particular circumstances, making plans for the future is doing Sisyphus work, not planning it at all seems utterly mortifying. I also believe that everyone makes some sort of plan; the problem is this fear of uncertainty that thwarts our will to act.
To make your resolve more adamant, compile a list of your future plans, see what you need in order to make them come true. This one is very similar to the first list—the one with goals; the difference is, it does not have to involve your personal future. Rather, it is list of upcoming important events, important changes in law, or upcoming trends, useful software, etc. It will keep you well-informed and prepared, since staying updated and relevant are essential virtues for lucrative businessmen.
9. List of Contingency Plans
“You pray for rain, you gotta deal with the mud too. That’s a part of it.” - Denzel Washington
Every action has an equal and opposite reaction, meaning there is nothing you can do without consequences. Every attempt to be more successful usually has a set of barriers attached to it, or risks. Even though risks are inevitable, being prepared for the aftermath is always a good and necessary thing. When you plan your business incentives, or when you plan to invest in something, make sure you compose a thorough pros and cons list, as well as a list of possible negative scenarios. In the event that positive aspects outweigh the negative ones, you can be more encouraged to proceed further.
Make an effort to be constantly prepared for the backlash of major initiatives, and contain the possible damage. The lack of contingency implies recklessness, and it was adamantly made clear how this approach contradicts advancement. Make leaps of faith only when you have no other options to explore.
“You pray for rain, you gotta deal with the mud too. That’s a part of it.” - Denzel Washington
Every action has an equal and opposite reaction, meaning there is nothing you can do without consequences. Every attempt to be more successful usually has a set of barriers attached to it, or risks. Even though risks are inevitable, being prepared for the aftermath is always a good and necessary thing. When you plan your business incentives, or when you plan to invest in something, make sure you compose a thorough pros and cons list, as well as a list of possible negative scenarios. In the event that positive aspects outweigh the negative ones, you can be more encouraged to proceed further.
Make an effort to be constantly prepared for the backlash of major initiatives, and contain the possible damage. The lack of contingency implies recklessness, and it was adamantly made clear how this approach contradicts advancement. Make leaps of faith only when you have no other options to explore.
10. Bucket List
“The bitterest tears shed over graves are for words left unsaid and for deeds left undone.” - Harriet Beecher Stowe
Finally, learn to live for the sake of experiencing what life has to offer. It is invigorating, to say the least, and it keeps your regrets at minimum. One of the reasons why we want to be successful is to actually fulfil our dreams or complete our bucket list, to look back on our life during old age with a warm smile rather than a frown. Feel free to put even the impossible things on your bucket list, and find the next best thing using your creativity. Whenever you reach a rough patch in your life, take a look at you bucket list and see what is the most plausible thing to do in order to restore your will power and keep going.
“The bitterest tears shed over graves are for words left unsaid and for deeds left undone.” - Harriet Beecher Stowe
Finally, learn to live for the sake of experiencing what life has to offer. It is invigorating, to say the least, and it keeps your regrets at minimum. One of the reasons why we want to be successful is to actually fulfil our dreams or complete our bucket list, to look back on our life during old age with a warm smile rather than a frown. Feel free to put even the impossible things on your bucket list, and find the next best thing using your creativity. Whenever you reach a rough patch in your life, take a look at you bucket list and see what is the most plausible thing to do in order to restore your will power and keep going.
Source: www.lifehack.org
Trading Lessons From Nicolas Darvas
- There are no good or bad stocks. There are only stocks that rise in price and stocks that decline in price, and that price is based on the laws of supply and demand in the marketplace
- “You can never go broke taking a profit” is bad advice that will result in over trading and cutting winners short. Selling winners and holding losers is to be avoided at all times
- There is a “follow-the-leader” style in the market. You will find success by selecting the most active and strongest industry group and trading its top leader
- The combination of price and increased volume is key to stock selection. Focus your time on new leaders emerging with a new market cycle
- It is the anticipation of growth rather than the growth itself that leads to great profits in growth stocks. “You have to find out what the public wants and go along with it. You can’t fight the tape, or the public.”
- One of the quickest ways to lose money in the market is to listen to others and all of their so-called expert opinions. To succeed, you must ignore all outside opinions and predictions. Follow your own strategy!
- Losses are tuition on Wall Street. Learn from them.
- You should expect to be wrong half of the time. Your goal is to lose as little as possible when you are. “I have no ego in the stock market. If I make a mistake I admit it immediately and get out fast. If you could play roulette with the assurance that whenever you bet $100 you could get out for $98 if you lost your bet, wouldn't you call that good odds?”
- Most of your big failures will come from three things: 1) when you abandon your rules, 2) you become overconfident, and 3) trade in despair when unsuccessful
- The best speculators search only for the very best opportunities. To be truly successful, you must wait for the right opportunities to present themselves and this often means doing nothing for long periods of time
- The market behaves the way it does due to participants behaving the way they do. No one knows what they will do until they actually do it
- Long-term investors are the real gamblers in the market due to their eternal hope that losing stocks will come back in price
- It is difficult to be profitable on the short side of the market versus the long side – trading in rising or bull markets will give you the best chance for success
- Most, if not all stocks, will follow the general trend of the market
- To train your emotions, write down the reasons for making every trade. When you lose, write down what you thought contributed to the loss. Then study and set new rules to avoid making those same mistakes
- Concentrate your trades. At the peak of his success, Darvas would hold only 5 to 8 stocks at one time which was in contrast to his earlier days when he was over trading and would hold up to 30 stocks at a time
- Avoid fallen leaders. Overhead resistance will keep upside potential limited due to supply from previous buyers who had not cut short their losses. According to Darvas, the only sound reason for a stock is one that is rising in price. If that is not happening, then there is “no other reason worth considering.”
- Darvas used his “box theory” to trade using boxes to time his entries (on breaking out to a new higher box) and exits (breaking below the current trading box).
- For new trades, Darvas used “pilot buys” which basically were starter positions in stocks he liked. Only if the stock continued to move higher would he then pyramid and increase his position. He learned never to buy more of a losing position
- He thought many unsuccessful investors made the mistake of looking at the same familiar names that might have worked well for them in the past instead of focusing on the next stock with the right elements for the new market cycle. “I am only in infant industries where earnings could double or triple. The biggest factor in stock prices is the lure of future earnings. The dream of the future is what excites people, not the reality.”
- Perfection has no role in successful trading. No one can buy at the absolute lowest price and sell at the highest price. No time or effort should be devoted to that goal. “I never bought a stock at the low or sold one at the high in my life. I am satisfied to be along for most of the ride.”
- Trade only when the environment is in your favour. Darvas' strategy kept him out of poor and bear markets because he wouldn't trade stocks that didn't fit his requirements which were only found in raging bull markets
- Be aggressive when warranted. Darvas believed in making aggressive trades when his system pointed to a great trade. In fact, sometimes 50% of his capital was devoted to just one stock
- While his trading approach was very technical, after studying the market’s winners he understood the relevance of finding stocks also with good fundamentals. Namely, Darvas thought that earnings and the future estimate of increased earnings were very important
- Be a student of the market. Darvas learned by reading more than 200 books about speculators and the market and devoted studying the market for many hours a day. In fact, Gerald Loeb's books & approach served as key inspiration
- No one can completely master the market. After millions of dollars and best selling books, Darvas was still learning and tweaking his system until he passed away
Source: www.kirkreport.com
Friday, 16 October 2015
Quote for the day
“Sometimes the reason people lose is that they're not sufficiently selective. Upon analysis, a trader may find that if he only concentrates on the trades that do well and lets go of the other types of trades, he might actually be successful.” - Randy McKay
Thursday, 15 October 2015
Quote for the day
“Forecasters, by definition, are biased and untrustworthy recorders of current economic events. In other words, they tend to uncover evidence that supports their forecasts, and they ignore or analytically dismiss anything that challenges it.” - John Liscio
Wednesday, 14 October 2015
Quote for the day
“When once caught in the maelstrom of stock speculation the average man becomes more or less mesmerized, and at critical moments his conservatism, his resolutions and his theories all take flight. Under the discomposing influence of a rapid succession of changing values and alternating impulses he loses his perspective, is incapable of calm reasoning, and is likely to do precisely the opposite of what he had intended to do.” - Henry Howard Harper
Tuesday, 13 October 2015
Quote for the day
“Acceptance of what has happened is the first step to overcoming the consequences of any misfortune.” - William James
Monday, 12 October 2015
Quote for the day
“How much heat can you stand? Money management is a thermostat — a control system for risk that keeps your trading within the comfort zone.” - Gibbons Burke
Sunday, 11 October 2015
A story to be told ..and retold...!! The seeds of success and failure
A successful businessman was growing old and knew it was time to choose a successor to take over the business.
Instead of choosing one of his Directors or his children, he decided to do something different. He called all the young executives in his company together
He said, "It is time for me to step down and choose the next CEO.
I have decided to choose one of you. "The young executives were shocked, but the boss continued. "I am going to give each one of you a SEED today - one very special SEED. I want you to plant the seed, water it, and come back here one year from today with what you have grown from the seed I have given you.
I will then judge the plants that you bring, and the one I choose will be the next CEO."
One man, named Jim, was there that day and he, like the others, received a seed. He went home and excitedly, told his wife the story.
She helped him get a pot, soil and compost and he planted the seed.
Everyday, he would water it and watch to see if it had grown. After about three weeks, some of the other executives began to talk about their seeds and the plants that were beginning to grow.
Jim kept checking his seed, but nothing ever grew
Three weeks, four weeks, five weeks went by, still nothing.
By now, all the others were talking about their plants, but Jim didn't have a plant and he felt like a failure.
Six months went by — still nothing in Jim’s pot. He just knew he had killed his seed. Everyone else had trees and tall plants, but he had nothing.
Jim didn't say anything to his colleagues. However, he just kept watering the pot and fertilizing the soil - He so wanted the seed to grow.
The year finally came to a close and the young executives were asked to bring their plants to the CEO for inspection.
Jim told his wife that he wasn't going to take an empty pot.
But she asked him to be honest about what happened. Jim felt sick to his stomach, it was going to be the most embarrassing moment of his life, but he knew his wife was right. He took his empty pot to the board room.
When Jim arrived, he was amazed at the variety of plants grown by the other executives.
They were beautiful - in all shapes and sizes. Jim put his empty pot on the floor and many of his colleagues laughed, a few looking very sorry for him!
When the CEO arrived, he surveyed the room and greeted his young executives.
Jim just tried to hide in the back. "Wow, what great plants, trees and flowers you have grown," said the CEO. "Today one of you will be appointed the next CEO!"
All of a sudden, the CEO spotted Jim at the back of the room with his empty pot. He ordered the Financial Director to bring him to the front.
Jim was terrified.. He thought, "The CEO knows I’m a failure! Maybe he will have me fired!"
When Jim got to the front, the CEO asked him what had happened to his seed, and Jim told him the story.
The CEO asked everyone to sit down except Jim. He looked at Jim, and then announced to the young executives, "Behold your next Chief Executive Officer! His name is Jim!"
Jim couldn't believe it. He couldn’t understand what was going on. For a moment he thought a joke was being played on him.
"How could he be the new CEO?" the others said.
Then the CEO said, "One year ago today, I gave everyone in this room a seed and I told you to take the seed home, plant it, water it, and bring it back to me today. But what you didn't know was I gave you all boiled seeds; they were dead - it was not possible for them to grow.
Instead of choosing one of his Directors or his children, he decided to do something different. He called all the young executives in his company together
He said, "It is time for me to step down and choose the next CEO.
I have decided to choose one of you. "The young executives were shocked, but the boss continued. "I am going to give each one of you a SEED today - one very special SEED. I want you to plant the seed, water it, and come back here one year from today with what you have grown from the seed I have given you.
I will then judge the plants that you bring, and the one I choose will be the next CEO."
One man, named Jim, was there that day and he, like the others, received a seed. He went home and excitedly, told his wife the story.
She helped him get a pot, soil and compost and he planted the seed.
Everyday, he would water it and watch to see if it had grown. After about three weeks, some of the other executives began to talk about their seeds and the plants that were beginning to grow.
Jim kept checking his seed, but nothing ever grew
Three weeks, four weeks, five weeks went by, still nothing.
By now, all the others were talking about their plants, but Jim didn't have a plant and he felt like a failure.
Six months went by — still nothing in Jim’s pot. He just knew he had killed his seed. Everyone else had trees and tall plants, but he had nothing.
Jim didn't say anything to his colleagues. However, he just kept watering the pot and fertilizing the soil - He so wanted the seed to grow.
The year finally came to a close and the young executives were asked to bring their plants to the CEO for inspection.
Jim told his wife that he wasn't going to take an empty pot.
But she asked him to be honest about what happened. Jim felt sick to his stomach, it was going to be the most embarrassing moment of his life, but he knew his wife was right. He took his empty pot to the board room.
When Jim arrived, he was amazed at the variety of plants grown by the other executives.
They were beautiful - in all shapes and sizes. Jim put his empty pot on the floor and many of his colleagues laughed, a few looking very sorry for him!
When the CEO arrived, he surveyed the room and greeted his young executives.
Jim just tried to hide in the back. "Wow, what great plants, trees and flowers you have grown," said the CEO. "Today one of you will be appointed the next CEO!"
All of a sudden, the CEO spotted Jim at the back of the room with his empty pot. He ordered the Financial Director to bring him to the front.
Jim was terrified.. He thought, "The CEO knows I’m a failure! Maybe he will have me fired!"
When Jim got to the front, the CEO asked him what had happened to his seed, and Jim told him the story.
The CEO asked everyone to sit down except Jim. He looked at Jim, and then announced to the young executives, "Behold your next Chief Executive Officer! His name is Jim!"
Jim couldn't believe it. He couldn’t understand what was going on. For a moment he thought a joke was being played on him.
"How could he be the new CEO?" the others said.
Then the CEO said, "One year ago today, I gave everyone in this room a seed and I told you to take the seed home, plant it, water it, and bring it back to me today. But what you didn't know was I gave you all boiled seeds; they were dead - it was not possible for them to grow.
All of you, except Jim, have brought me trees and plants and flowers, all well cared for. and of considerable beauty.
But what you did when you found that the seed I gave you would not grow was, you substituted it with another seed. Jim was the only one with the courage and honesty to bring me a pot with my seed in it. Therefore, he is the one who will be the new Chief Executive Officer!"
But what you did when you found that the seed I gave you would not grow was, you substituted it with another seed. Jim was the only one with the courage and honesty to bring me a pot with my seed in it. Therefore, he is the one who will be the new Chief Executive Officer!"
************************************************
* If you plant honesty, you will reap trust
* If you plant goodness, you will reap friends
* If you plant humility, you will reap greatness
* If you plant perseverance, you will reap contentment
* If you plant consideration, you will reap perspective
* If you plant hard work, you will reap success
* If you plant forgiveness, you will reap reconciliationwww.island.lk
Quote for the day
“You must have the discipline and temperament to resist your impulses. Human beings have precisely the wrong instincts when it comes to the markets. If you recognize this, you can resist the urge to buy into a rally and sell into a decline.” - Irving Kahn
Saturday, 10 October 2015
Sri Lanka is as rich as the US in 1917. A mesmerizing graphic shows where every country falls.
Lets you select from the below link any year in American history and see which countries were richer in 2013 than the US was then, which were poorer, and which were about equal (within 10 percent).
10 Practices for Becoming a Self-Made Millionaire
By Timothy Sykes
Becoming a self-made millionaire is no easy task. Yet, for the individuals who have accomplished this major feat in the past, the process involves following a few set rules like these or guidelines that have proven to help self-made professionals, no matter what industry they may be in. If you have your sights focused on a life as a self-made millionaire then consider these rules to live by.
2. Never get too comfortable.
There should never be a time in your journey to the top where you stop and think “Ok, I've done enough, I can stop working so hard.” If you’ve met your goal and made a million dollars, set another one. You should never be comfortable, you should always be working for more.
3. Study and work harder than anyone.
No matter how talented you are, you will never reach your full potential success unless you are willing to study and work harder than anyone else. This is the only way to truly achieve your goals.
4. Learn from failures and mistakes.
You are going to make mistakes and you are going to fail. How you react to those failures is what makes you successful. If you fall, don't get down on yourself, but look at why you failed, take it as a learning experience, brush it off and move on.
5. Read every day.
This rule cannot be emphasized enough -- you need to be reading all the time. Never stop reading and never stop finding new topics to read about. You need to keep aware of the cutting edge movements within your industry to stay ahead of the trends.
6. Keep your mind and body healthy.
Exercise along with mental health breaks are all an important part of being the most successful version of yourself that you can be. Work out daily, eat right and always get plenty of sleep.
7. Surround yourself with successful like-minded people.
Surrounding yourself with the wrong people can be a major drain on you. Make sure that you are around people who share your same goals and visions, who are motivated and are true peers that also want financial success. Being around these individuals will motivate you and help you stay focused. Avoid people who don't care about work. People who spend all of their time partying are not good for your success.
8. Give to the less fortunate and take care of loved ones.
We've talked about taking care of your mind and body, but it is also important to take care of your soul. Never lose sight of the world around you and those who are in need. Taking care of your loved ones is one of the best ways to enjoy your financial success.
Give back to those in need. I started my Timothy Sykes Foundation to help those who are less fortunate. It has really made a difference in my perspective and work ethic.
9. Be honest and transparent.
Lying and being deceitful will never get you as far as you think. You need to always be honest, straightforward and transparent with people. This is a truly important and undervalued practice that will help you earn the long-term professional success you have always wanted.
10. To succeed think long-term, not short term.
So many people are focused only on their short-term success and have goals like “I want to make X amount of money in the next year.” Don't focus on short-term goals, focus on the long-term big picture of where you want your life to be. These are the types of goals that will get you motivated to being truly self-sufficient and building actual wealth for you and your family.
While there undoubtedly is a certain amount of challenge that comes with becoming a self-made millionaire, if you keep these rules in mind and learn from the success of those who have accomplished this goal in the past, then you will be armed with the insight you need to help make your financial goals a reality.
Source: http://www.entrepreneur.com/
Becoming a self-made millionaire is no easy task. Yet, for the individuals who have accomplished this major feat in the past, the process involves following a few set rules like these or guidelines that have proven to help self-made professionals, no matter what industry they may be in. If you have your sights focused on a life as a self-made millionaire then consider these rules to live by.
1. Do it for the challenge.
If you ask any self-made millionaire why they got started in the field they did, chances are they will not just say “to make a million dollars.” The true story behind most people's success is that they wanted to accept the challenge of following their dreams and becoming successful on their own terms.
If you ask any self-made millionaire why they got started in the field they did, chances are they will not just say “to make a million dollars.” The true story behind most people's success is that they wanted to accept the challenge of following their dreams and becoming successful on their own terms.
2. Never get too comfortable.
There should never be a time in your journey to the top where you stop and think “Ok, I've done enough, I can stop working so hard.” If you’ve met your goal and made a million dollars, set another one. You should never be comfortable, you should always be working for more.
3. Study and work harder than anyone.
No matter how talented you are, you will never reach your full potential success unless you are willing to study and work harder than anyone else. This is the only way to truly achieve your goals.
4. Learn from failures and mistakes.
You are going to make mistakes and you are going to fail. How you react to those failures is what makes you successful. If you fall, don't get down on yourself, but look at why you failed, take it as a learning experience, brush it off and move on.
5. Read every day.
This rule cannot be emphasized enough -- you need to be reading all the time. Never stop reading and never stop finding new topics to read about. You need to keep aware of the cutting edge movements within your industry to stay ahead of the trends.
6. Keep your mind and body healthy.
Exercise along with mental health breaks are all an important part of being the most successful version of yourself that you can be. Work out daily, eat right and always get plenty of sleep.
7. Surround yourself with successful like-minded people.
Surrounding yourself with the wrong people can be a major drain on you. Make sure that you are around people who share your same goals and visions, who are motivated and are true peers that also want financial success. Being around these individuals will motivate you and help you stay focused. Avoid people who don't care about work. People who spend all of their time partying are not good for your success.
8. Give to the less fortunate and take care of loved ones.
We've talked about taking care of your mind and body, but it is also important to take care of your soul. Never lose sight of the world around you and those who are in need. Taking care of your loved ones is one of the best ways to enjoy your financial success.
Give back to those in need. I started my Timothy Sykes Foundation to help those who are less fortunate. It has really made a difference in my perspective and work ethic.
9. Be honest and transparent.
Lying and being deceitful will never get you as far as you think. You need to always be honest, straightforward and transparent with people. This is a truly important and undervalued practice that will help you earn the long-term professional success you have always wanted.
10. To succeed think long-term, not short term.
So many people are focused only on their short-term success and have goals like “I want to make X amount of money in the next year.” Don't focus on short-term goals, focus on the long-term big picture of where you want your life to be. These are the types of goals that will get you motivated to being truly self-sufficient and building actual wealth for you and your family.
While there undoubtedly is a certain amount of challenge that comes with becoming a self-made millionaire, if you keep these rules in mind and learn from the success of those who have accomplished this goal in the past, then you will be armed with the insight you need to help make your financial goals a reality.
Source: http://www.entrepreneur.com/
Quote for the day
“Zebras have the same problem as institutional portfolio managers. First, both seek profits. For portfolio managers, above average performance; for zebras, fresh grass. Secondly, both dislike risk. Portfolio managers can get fired; zebras can get eaten by lions. Third, both move in herds. They look alike, think alike and stick close together. If you are a zebra, and live in a herd, the key decision you have to make is where to stand in relation to the rest of the herd. When you think that conditions are safe, the outside of the herd is the best, for there the grass is fresh, while the middle see only grass which is half-eaten or trampled down. The aggressive zebras, on the outside of the herd, eat much better. On the other hand – or other hoof – there comes a time when lions approach. The outside zebras end up as lion lunch, and the skinny zebras in the middle of the pack may eat less well but they are still alive.” - Ralph Wanger
Friday, 9 October 2015
28 Life changes that will improve your happiness overnight
Sometimes in life, small annoyances and daily irritations can build up and begin to affect your day to day mood, health and general well-being if we are not properly equipped to deal with them.
A negative mind-set can make ruin your day and can even have consequences on our health!
Focusing on every aspect of physical, social and mental well-being as well as changes you can make around the home and in the workplace – these simple modifications can make a huge difference to your outlook on life.
Focusing on every aspect of physical, social and mental well-being as well as changes you can make around the home and in the workplace – these simple modifications can make a huge difference to your outlook on life.
From things as simple as sending an email to an old friend making sure you've had enough water to drink to larger opportunities such as joining a club, every change is a positive one and something that can help arm yourself against discontent and achieve happiness.
So take a look through the infographic by MyBreast who have compiled 28 changes you can make in your life that will improve your happiness overnight.
Source: http://www.visualistan.com/
Quote for the day
“I'm not picky about how I make my money. It doesn't matter if my opinion is right or wrong. All that matters is whether I make money.” - Brian Gelber
Thursday, 8 October 2015
Business Today Top Twenty five 2014-2015: Entering An Era Of Change
The Business Today TOP 25 is strictly based on the published information of companies listed in the Colombo Stock Exchange. Financial criteria considered include Share Turnover, Revenue, Profit after Tax, Return on Equity, Earnings per Share, Market Capitalisation and Value Addition. Weights are assigned to the criteria without any prejudice.
The Business Today TOP 25 have been selected on the basis of their financial performance during the financial year ending December 31, 2014 and March 31, 2015 with the assistance of KPMG Ford Rhodes, Thornton & Co.
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The Business Today TOP 25 have been selected on the basis of their financial performance during the financial year ending December 31, 2014 and March 31, 2015 with the assistance of KPMG Ford Rhodes, Thornton & Co.
| 01. | John Keells Holdings | 22.750 |
| 02. | Commercial Bank of Ceylon | 22.200 |
| 03. | Hatton National Bank | 20.450 |
| 04. | Ceylon Tobacco Company | 19.500 |
| 05. | Distilleries Company of Sri Lanka | 19.000 |
| 06. | Dialog Axiata | 18.050 |
| 07 | Lanka Orix Leasing Company | 16.100 |
| 08. | Bukit Darah | 16.050 |
| 09. | Sri Lanka Telecom | 15.700 |
| 10. | Sampath Bank | 15.200 |
| 11. | Hayleys | 13.300 |
| 12. | Aitken Spence | 11.500 |
| 13. | Nestle Lanka | 11.350 |
| 14. | Vallibel One | 11.300 |
| 15. | National Development Bank | 10.800 |
| 16. | DFCC Bank | 10.400 |
| 17. | People’s Leasing & Finance | 8.850 |
| 18. | Central Finance | 7.600 |
| 19. | Chevron Lubricants Lanka | 7.300 |
| 20. | Seylan Bank | 6.150 |
| 21. | Ceylinco Insurance | 6.000 |
| 22. | Nations Trust Bank | 4.200 |
| 23. | Hemas Holdings | 3.800 |
| 24. | Access Engineering | 3.500 |
| 25. | Lanka IOC | 3.350 |
www.businesstoday.lk/cover_page.php?article=10320
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