CSE - Percentage wise Top 25 Gainers and Losers in August 2016 & YTD

Top 25 Gainers in August 2016

Colombo Stock Exchange Trade Summary 31-Aug-2016

Quote for the day

"To become financially independent you must turn part of your income into capital; turn capital into enterprise; turn enterprise into profit; turn profit into investment; and turn investment into financial independence." - Jim Rohn

Colombo Stock Exchange Trade Summary 30-Aug-2016

Quote for the day

"Affirmation without discipline is the beginning of delusion." -  Jim Rohn

Colombo Stock Exchange Trade Summary 29-Aug-2016

Quote for the day

"Let others lead small lives, but not you. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Let others leave their future in someone else's hands, but not you." - Jim Rohn

Quote for the day

"Continuous effort - not strength or intelligence - is the key to unlocking our potential." - Winston Churchill

Quote for the day

“The market has no respect for your station in life or for how smart an investor you have been until now. In fact, the market in this incarnation most prefers to humiliate those who remain smug or who appear to be telling it what to do and when to do it.” -  Tom Petruno

Colombo Stock Exchange Trade Summary 26-Aug-2016

Quote for the day

"Do more than belong: participate. 

Do more than care: help. 

Do more than believe: practice. 

Do more than be fair: be kind. 

Do more than forgive: forget. 

Do more than dream: work." 

- William Arthur Ward

Colombo Stock Exchange Trade Summary 25-Aug-2016

Quote for the day

"I believe life is constantly testing us for our level of commitment, and life's greatest rewards are reserved for those who demonstrate a never-ending commitment to act until they achieve. This level of resolve can move mountains, but it must be constant and consistent. As simplistic as this may sound, it is still the common denominator separating those who live their dreams from those who live in regret." - Tony Robbins

Colombo Stock Exchange Trade Summary 24-Aug-2016

Quote for the day

"We seem to gain wisdom more readily through our failures than through our successes. We always think of failure as the antithesis of success, but it isn't. Success often lies just the other side of failure." - Leo Buscaglia

Colombo Stock Exchange Trade Summary 23-Aug-2016

Quote for the day

"Honesty is the first chapter in the book of wisdom." - Thomas Jefferson

Colombo Stock Exchange Trade Summary 22-Aug-2016

Quote for the day

"Knowledge is of no value unless you put it into practice." - Anton Chekhov

30 Habits of Wealthy Traders

By Tim Bourquin of Trader Interviews:

1. Wealthy traders are patient with winning trades and enormously impatient with losing trades. - it takes time to get comfortable with being uncomfortable; it's impossible to jump into brain surgery days after med school graduation.

2. Wealthy traders realize that making money is more important then being right. - now, making money is just the material reward of making the right decisions, but not always; protecting the down side is also based on making the right decisions.

3. Wealthy traders look at technical analysis as a picture of where traders are lining up to buy and sell. - seeing where buyers and sellers line up, may be the holy grail of trading IMO.

4. Before they enter any trade they know exactly where they will exit for either a gain or a loss. - I think it goes well with making the right decisions; plan your trades, trade your plan...I hear that every day on the Squawk Radio from Nebraska, Hoag, Eddie, Jayhawk, Bob...

5. Wealthy traders approach trade number 5 with the exact same mind set they did on the 4 previous losing trades. - back to strategy and trade plan; they both have to printable.

6. Wealthy traders use naked charts and focus on zones. - indicators are lagging, but combined with a solid strategy and trade plan could have decent results for beginning traders.

7. Wealthy traders realized a long time ago that being uncomfortable trading is OK. - goes hand in hand with the first statement.

8. The markets they trade fit their personality. They are a participant – not an on-looker. - it takes screen time to find all the pieces of the puzzle.

9. They stopped trying to pick tops and bottoms long ago – and stopped losing money doing so there is an edge trading tops and bottoms question is: does it fit traders personality and trading plan?

10. They stopped thinking about the market being “cheap” or “expensive”. - well, we trade leveraged products at TST.

11. Wealthy traders are willing to change sides, short to long and vice versa when the market tells them to do so. - ego, flexibility, market knowledge, all come together when trading both sides of the market.

12. Wealthy traders trade aggressively when trading well and modestly when they are not. - it is easy to lose site of this aspect of trading and swinging for the fences just because of a hunch is not receipt for success.

13. They realize the market will be open again tomorrow. - setting a daily cash goal will push a trader to over trade, take unnecessary risks which result in random results.

14. Wealthy traders will never add to a losing trade....EVER. - I remember a strategy in a old book of trading: scaling in a trade...right!!! Maybe if you're trading 5 – 10.000 S&P contracts. In my opinion this may be the #1 strategy to clean an account when mixed with ego and false hope.

15. Cash is the target but wealthy traders set goals for their trading that are anything but money. - what a concept! Oh, wait a minute, isn't this the concept TST teaches day in and day out?

16. They read trading books, but they read more “crowd” books too ex: The Wisdom of Crowds, The Art of Strategy, Markets, Mobs & Mayhem. - knowledge is power...it's all I got on this one.

17. They provide liquidity to the markets while watching price and volume. - grasping this idea is beyond me.

18. They have a way to gauge fear, greed and speed of transactions. One way: tick charts.

19. They practice reading the right side of the chart, not the left. - screen time again

20. Every wealthy trades has an “edge”. - Now, that's something new, right? Build a strategy, write a trade plan...could this have something to do with fining an “edge”?

21. Their position size is calculated exactly on risk tolerance. - this reminds me of the AHA moment I had after listening to Greg Weitzman webinar on TST http://www.youtube.com/watch?v=9V6RQmuVrRA I might say, it was the turning point for my trading plan.

22. Profit targets are based on Average True Range. - noted in my plan

23. One or two trades a month make their month. - Base hits, base hits, base hits...sounds like a broken record, but one must learn to like this broken record.

24. Confident decision makers in the face of incomplete information. - but it's not gambling. To the onlookers, traders are major risk takes, always flippin' the coin. I would call it organised chaos and one needs some fantastic glasses to see the 3D picture: discipline, discipline, discipline.

25. A losing trade is not a reflection on themselves as a trader. - based on my trading plan, out of 10 trading days, I can afford 4 losing days and at the end of a losing day I can say: “well, that's out of the way, now I can concentrate on the upcoming winning day”.

26. Their business isn't trading – it's fining the right trades. - I hear it all the time: “I’m going to try a short here and see what happens, hope for the best”. I know there is no trading plan when “trying” a trade and “praying” it works out. I was there a few months ago.

27. They write down or record every trade: price, thoughts, mood... - some new guy here at TST is putting an emphases on keeping a journal. Don't have time for that? Einstein wrote his thoughts and he was a genius.

28. Their conviction on an active trade remains unless something major changes. - When you have confidence in your trading plan, taking a bad trade is just a way to get to the good trade; recognising trend change helps with not letting winners turn into losers.

29. A winning trade does not result in taking on extra risk the next trade. - Nebraska always says: “trade 1 lot and let the winners build your account” and Dr. Andrew Menaker says: “ winners build confidence”.

30. They trade the reaction not the “news”.

Source: www.topsteptrader.com

Quote for the day

"Who looks outside, dreams; who looks inside, awakes." - Carl Jung

39 Behaviors of the Most Likable People

By Andrew Thomas
You can quickly become more charismatic by adopting the traits of the most likeable people.

There are a lucky few born with natural charisma - masters of working a room in seconds with handshakes and laughs. Candidly, I was not the most likeable person in the room during my late teens and early twenties.

I admired the way likeable people made me feel and how others people gravitated toward them. It hit me that our greatest gift is the way we make people feel. I wanted to learn the secrets of their success.

Starting in 2011, I started learning how to be more likeable. The most effective thing I did was notice the behaviours and traits of the most likeable people - and then adopt them as mine own.

Here's a list of 39 things that the most likeable people do on a daily basis - so you can do the same.

The 39 traits of likeable people

1. They actively listen.
2. They make a great first impression.
3. They're accountable for their mistakes.
4. They do what they say they'll do.
5. They treat everyone with respect.
6. They ask questions instead of making assumptions.
7. They laugh.
8. They live for themselves, not to please others.
9. They follow-up.
10. They smile.
11. They remember your name.
12. They offer to help.
13. They aren't afraid to make mistakes.
14. They send thank you notes.
15. They encourage others.
16. They speak slowly and confidently
17. They don't judge you.
18. They apologize.
19. They forgive, but do not forget.
20. They don't speak for you.
21. They know how to give a compliment.
22. They know how to accept a compliment.
23. They tell the truth.
24. They celebrate others.
25. They have good body language.
26. They don't criticize others.
27. They give you their undivided attention.
28. They don't make you feel defensive.
29. They don't take credit for other people's success.
30. They maintain good eye contact.
31. They let you do most of the talking.
32. They know how to have a tough conversation.
33. They admit when they're wrong.
34. They are consistent.
35. They don't interrupt.
36. They're not afraid to be vulnerable.
37. They don't exaggerate.
38. They can laugh at themselves.
39. They're optimistic, without being unrealistic.

This is a way of life

Take notice that these behaviors are all about being a good person and making others feel good. They aren't tactics and tricks. They're a way of life. You will see dramatic change when you make the necessary effort to practice these behaviors and truly adopt them into your daily life.

Putting this into action

Meaningful change is achieved when you consistently make small improvements over time. My results came from focusing on one or two of these behaviors at a time, and practicing them in my interactions until they became a habit. Only then would I move to the next one.

Learning to be likable takes time, self awareness, and practice to authentically mold these behaviors into a natural routine. There are no shortcuts. 

Additional resources

If you don't quite understand these items, then do more research. The two books that helped me the most were "How to Win Friends and Influence People" by Dale Carnegie and "Crucial Conversations" by Al Switzler, Joseph Grenny, Kerry Patterson, and Ron McMillan.

Source: www.inc.com

Quote for the day

“Time is what we want most, but what we use worst.” -  William Penn

Colombo Stock Exchange Trade Summary 19-Aug-2016



Quote for the day

"Knowledge is a process of piling up facts; wisdom lies in their simplification." - Martin Luther King, Jr.

Colombo Stock Exchange Trade Summary 18-Aug-2016

Quote for the day

“Theory without practice cannot survive and dies as quickly as it lives... [but] he who loves practice without theory is like the sailor who boards ship without rudder and compass, and never knows where he may cast.” - Leonardo da Vinci

Quote for the day

"Whatever we plant in our subconscious mind and nourish with repetition and emotion will one day become a reality." - Earl Nightingale

Colombo Stock Exchange Trade Summary 16-Aug-2016

Quote for the day

"Being defeated is often a temporary condition. Giving up is what makes it permanent." - Marilyn vos Savant

Colombo Stock Exchange Trade Summary 15-Aug-2016

Quote for the day

"Become a possibilitarian. No matter how dark things seem to be or actually are, raise your sights and see possibilities -- always see them, for they're always there." - Norman Vincent Peale

Science Says 92 Percent of People Don't Achieve Their Goals. Here's How the Other 8 Percent Do

If you're serious about goal-setting, here's what the high-achievers know that you may not.

Did you know that a staggering 92 percent of people that set New Year's goals never actually achieve them? That's according to research by the University of Scranton.

I've done it many times, and if you're like me -- a driven, type-A entrepreneur -- failing to meet goals can set you back and leave you discouraged and frustrated. (I even felt it as I typed that sentence.)

Here's the thing: If you want to break the cycle, do what the other 8 percent of goal-setters -- the successful ones -- do consistently and exceptionally well. 

Set goals that are specific and challenging (but not too hard).

Research by Edwin Locke and Gary Latham found that when people followed these two principles -- setting specific and challenging goals -- it led to higher performance 90 percent of the time.

Basically, the more specific and challenging your goals, the higher your motivation toward hitting them. That explains why easy or vague goals rarely get met.

Here's an example: If your goal between now and the end of the year is to, say, lose 20 pounds, that may be challenging, but it's not specific enough.

Eliminate vagueness and make it more achievable by stating it this way: During the month of August, I will lose five pounds by cutting off refined sugar, breads, and all fast food. I will also walk briskly for twenty minutes every day.

When you have that much clarity around your goal, your chances of hitting the mark increase dramatically.

On the flip side, goals that are too difficult to hit don't get met either. While it's important to challenge yourself, nobody completes a goal when he/she is overwhelmed by facing a mountain they can't climb.

If you find yourself with such a scenario, break down your BHAG (Big Hairy Audacious Goal) into smaller bites you can actually chew. Use the same process of defining specific and challenging marks to hit when mapping out the smaller goals that will lead you to your final destination.

Questions to ask yourself: How challenging is this goal for me? Am I excited about reaching this goal? Is it too easy? If so, can I make it harder without it overwhelming me? Is it too complex? If so, how can I break it into smaller parts so I don't get overwhelmed?

Be passionate about your goals and committed to the end.

Simply put, the 8 percent of goal-setters who succeed want it, and badly. So ask yourself: What is my level of commitment? Are you totally sold out for reaching your goal? When obstacles pop up along the way, will you toss in the towel?

The 8 percent have an internal compass that keeps them locked in until they reach the top of the mountain. It's a belief system of "do whatever it takes" that is intrinsically motivated at their core.

Take a quick moment and check in with yourself. If at the core of your being you don't really have the desire or passion to pursue the goal, it doesn't matter how specific, challenging, or sexy your goal may sound -- you're not going to reach it.

Questions to ask yourself: How badly do I want it? Who's holding me accountable to the end? Is my heart truly in it from the start? What's life going to look like once I complete the goal? In the end, will it be worth it?

Use a feedback cycle to track progress.

You're human -- you're bound to fall back into old habits, procrastinate, or lose motivation. To counter these things, your chances of hitting a specific goal increase greatly if you're getting frequent feedback that will keep you on track and help you to adjust accordingly.

That's why the coaching profession is booming. People who are dead serious about meeting their goals benefit tremendously from the feedback and accountability system afforded in a coaching process.

Side note: Managers who are coaches typically have an edge with employees over managers who don't coach. They get high marks by providing consistent feedback through one-one-one meetings that motivate employees toward completing goals.

Align all your goals.

The 8 percent align their short- and long-term goals toward conquering the top of the mountain. This leads to happier lives, says Jonathan Haidt in The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom:

"The psychologists Ken Sheldon and Tim Kasser have found that people who are mentally healthy and happy have a higher degree of 'vertical coherence' among their goals -- that is, higher-level (long-term) goals and lower-level (immediate) goals all fit together well so that pursuing one's short-term goals advances the pursuit of long-term goals".

Lean on trusted advisers.

Seeking out expert guidance and advice makes a big impact on achieving your goals. That's why successful people are no lone rangers. They surround themselves with mentors and advisers who will support them on their journey.

Think about three or four people you can recruit that are further down the path. Make it a monthly habit to share your goals in the context of a mastermind meeting where you can glean wisdom, insight, and advice to steer you toward your goals.

Avoid multitasking.

The most successful people are very patient and live by the motto "one step at a time." They also avoid juggling many things. You think multitasking is still a good strategy for success? Research says it's a myth and can be damaging to our brains. You end up splitting your focus over many tasks, losing focus, lowering the quality of your work and taking longer to hit your goals.

The 8 percent are smart enough to work on several smaller chunks to complete a big goal. But they do it by knocking one down then moving on to the next one.

As you break the goal down into smaller chunks, each of those chunks should have their own deadlines. Amy Morin in Forbes calls these "now deadlines":

"Even if your goal is something that will take a long time to reach -- like saving enough money for retirement -- you're more likely to take action if you have time limits in the present. Create target dates to reach your objectives. Find something you can do this week to begin taking some type of action now. For example, decide 'I will create a budget by Thursday,' or 'I will lose two pounds in seven days.'"

Bringing it home.

While you may think these successful 8 percenters are born predisposed to these talents, research says that successful people achieve their goals not simply because of who they are, but more often because of what they do.

Aristotle nailed it more than 2000 years ago when he said, "We are what we repeatedly do." By practising these skills, expect to dramatically improve your rate of finishing strong.

www.inc.com

Quote for the day

"Stay committed to your decisions, but stay flexible in your approach." - Tony Robbins

7 Reasons Smart, Hardworking People Struggle To Find Success

Think back to when you were in high school, when things were simpler. Do you remember that person who stood out amongst the class? That person everyone thought would change the world one day? They got straight A’s on their report card and were praised all the time. People would talk about the things that person would go on to do one day.

Fast forward a decade or two to the present day. You haven’t seen anything spectacular the person has done. In fact, you haven’t heard anything at all.

What happened?

Maybe you know someone like this. Or…maybe you are that person.

I used to think that intelligence and a strong work ethic were all you needed to be successful. But it turns out that’s not always true. Both are important, but they aren’t a guarantee for success in life. A number of other factors come into play.

Here are seven reasons smart, hardworking people can’t find success:

1. They don’t reach out to new people.

Let’s face it. It’s easy to stick to people you’ve known for a long time. You know each other’s histories and can laugh at inside jokes together. However, only staying with familiar people means that the same ideas are recycled over and over again, and you don’t gain new perspectives outside your bubble.

While old friends are great to have, getting to meet new people is equally as important. It can be tough to reach out at first, but starting small can help. Aim for a low goal initially, such as introducing yourself to one new person a week. Meeting new people helps you gain insight into perspectives that might not be the same as yours.

2. They can’t adapt to new situations.

A change in environment, whether it’s a change in circumstances or events, means that there’s a sudden need to adapt. Sometimes being in the same environment for a long time means it’s hard to suddenly make the best of a different situation.

The good news is that changes are also a chance for opportunities and innovation. Instead of resisting changes, see how you can make the best of them and allow them to work for you. Be open to new concepts and stay curious about the world around you. I like to apply the Page-Turner Technique to keep myself motivated and excited to learn.

Maybe there’s a new business opportunity or a life-changing event around the corner. Learn to adapt and you’ll be more successful.

3. They don’t take calculated risks.

There are two types of risks. Blind risks, where something is done simply to seek thrill or excitement with a potentially long-term disastrous effect; and calculated risks, where there is potential loss, but the upside is great and could be life-changing.

I think we can both agree that calculated risks are what we’re aiming for.

Smart people often opt for neither, though, because they choose to follow the safe route. They might follow the same path as their peers or choose a career because it’s considered acceptable by everyone else. While there’s a degree of security in doing so, it also means that there’s less chance of achieving great success by branching out.

4. They think they deserve success because of their credentials.

People who worked hard in school frequently have an impressive alma mater, numerous achievements, and high grades. They’re used to being at the top and told about their potential.

All these things can feel good, but they also have a detrimental effect. I’ve heard people claim they deserve something because of their intelligence or where they went to school. They expect things to pan out automatically because of their credentials. Sadly, though, life doesn’t work like that.

In the real world, results matter. Getting results means that there is hard work, strategic thinking, and some luck involved. You can increase that last factor by working on the first two.

5. They always chase the next big thing.

One thing I hear often from high achievers is that they hate wasting time. Smart people are all too aware of the value of their time, as time and effort spent on one thing means that they could potentially be missing out on something else.

While this is a strong attribute, it also leads to a bad habit of chasing the next big thing and not following through. Starting out in any field or endeavor is tough, and getting through the initial obstacles requires patience.

Focusing effort on one goal yields better results in the long run rather than going after one thing, getting bored, and then going after something new.

6. They can’t commit to a decision.

Being smart and working hard can open up numerous doors. People normally see this as a good thing, but it can be as restricting as having few choices.

An abundance of choices makes it difficult to decide what to do. As a result, it’s tempting to jump around and “see what suits you”. I knew someone who attended numerous graduate school programs, one after another. Over 10 years later, she still can’t figure out what to do.

Rather than dabbling in many endeavours, I suggest testing things out first. Talk to other people and do the research before making a decision, so that you know whether or not an option suits your personality and lifestyle.

7. They don’t believe in their capabilities.

Surprisingly, smart people can underestimate their own abilities. They are their own worst critic, causing them to believe that they can’t accomplish as much as they can.

Smart people have high standards when it comes to their work. Whenever they work on a project, they tend to scrutinise and second-guess the final product. This seems like a good thing on the surface, but it’s often more debilitating than helpful. Perfectionism can hinder people from progressing in their goals or starting on anything in the first place.

So instead of letting fears of “what if” or “I’m not good enough” keep you back from something new, just try it out. Getting started beats aiming for perfect every time.

Source: www.lifehack.org

Quote for the day

"Perfection is not attainable, but if we chase perfection we can catch excellence." - Vince Lombardi

Colombo Stock Exchange Trade Summary 12-Aug-2016

Sri Lanka's Most Respected Entities 2016

Quote for the day

"Life is a foreign language; all men mispronounce it." - Christopher Morley

Colombo Stock Exchange Trade Summary 11-Aug-2016

Quote for the day

"Every day may not be good... but there's something good in every day." - Alice Morse Earle

2016 Country Stock Market Performance

Below is a list highlighting the year-to-date percentage change (in local currency) for the main stock market indices of 76 countries around the world. Overall, 41 of 76 countries (54%) are in positive territory for the year, while the average country is now up 3.7% YTD. Peru’s stock market is currently at the top of the list with a 2016 gain of 56.32%. Brazil ranks 2nd at +32.95%, followed by Argentina (+31.90%) and Russia (+25.97%). Namibia rounds out the top five with a YTD gain of 23.38%.

Of the G7 countries, Canada is on top with a gain of 13.56%. The UK (yes, the UK) ranks second with a YTD gain of 9.08%, but remember, this is in local currency, so it doesn’t factor in the 12% drop that the pound has seen this year. Priced in dollars, the UK’s stock market is down roughly 3.5% year to date. Even that doesn’t seem too bad, though, given the Brexit freak-out that occurred at the end of June.

The US is the only other G7 country in the black this year with a gain of 6.59%. Germany, France, Japan and Italy are all in the red, with Italy actually ranking dead last out of all countries at -21.82%. China ranks second to last with a decline of 15.11%, but the other three BRIC countries are solidly in the black.

Source: www.bespokepremium.com

Colombo Stock Exchange Trade Summary 10-Aug-2016

Quote for the day

"Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are." - John Wooden

Colombo Stock Exchange Trade Summary 09-Aug-2016

Quote for the day

"A little more persistence, a little more effort, and what seemed hopeless failure may turn to glorious success. There is no failure except in no longer trying. There is no defeat except from within, no really insurmountable barrier save our own inherent weakness of purpose." - Elbert Hubbard

Colombo Stock Exchange Trade Summary 08-Aug-2016

Quote for the day

"You are not judged by the height you have risen, but from the depth you have climbed." - Frederick Douglass

10 Behaviors of Unsuccessful People

Want to be more successful? Avoid making these mistakes.

Everyone aspires to be successful, but only a select few really reach that point where they can celebrate big--and even little--successes in their professional careers. How do you avoid the pitfalls and detrimental behaviour most common among unsuccessful people?

It's easier than you think to squander opportunities and slip into inaction. To help you avoid making those mistakes, check out these 10 behaviour of unsuccessful people.

1. Procrastinating.

One of the biggest challenges we face every day, especially as entrepreneurs, is the reluctance to take the first step. This happens with everything from simple daily activities to projects that are part of a major goal.

A chief cause of procrastination is that one or more tasks can appear overwhelming. The single best way to overcome this is to break every project down into smaller bites that are easier to digest and tackle--then do them one at a time.

As Gary Keller wrote in his book The One Thing, "It is those who concentrate on but one thing at a time who advance in the world."

If you can't do that, and you continue to procrastinate, you'll never be successful.

2. Blaming.
When unsuccessful people don't get what they want, they play the blame game. They refuse to accept responsibility for their mistakes or the fact that they made their own choices. It's easier to attribute their lack of success to things outside of their control.

Successful people don't do this; they own up to their mistakes. They know they're going to fail, and they embrace the possibility, because they know they're going to learn from it and do better next time.

3. Making Assumptions.

People make assumptions when they don't fully understand a situation. It's natural for our brains to try to fill in the blanks and make up a narrative so that people and situations make sense. The problem with doing this is the narrative is often incorrect.

Unsuccessful people make assumptions on a frequent basis, and as a result they miss out on opportunities. They're so sure that something is doomed or too difficult to be bothered with that they don't bother at all.

Making assumptions undermines hard work and opportunities for success. Instead, you should ask questions, get answers, and communicate. Do that, and you'll rarely find yourself in a situation where you're left to make assumptions.

4. Talking instead of listening.
It's rare for an entrepreneur to become successful by only following their own thoughts and intuitions. That's why the most successful companies rely on a team of advisors or board of directors, to learn the thoughts and opinions of others.

The most unsuccessful people talk instead of listening. They believe they know it all, and therefore have no need to absorb the knowledge and experience of others.

Bryant McGill, a leadership mentor for social entrepreneurs, says, "One of the most sincere forms of respect is actually listening to what another has to say." And it's not just about respecting them--it's about respecting yourself enough to listen, learn, and allow yourself to grow.

5. Avoiding risk.

If you're too afraid to take risks and always opt to stay in the safe zone, you will forever remain unsuccessful. You can't grow personally or professionally when you mitigate risks by sticking only with the things you know were effective in the past.

You shouldn't let risk keep you from growing. Instead, see it for what it really is. It's a necessary obstacle on a path to a greater place.

6. Quitting.

To put it simply, unsuccessful people quit. They decide the goals they set are too difficult to complete, or that, for some reason, they just won't succeed.

Unsuccessful people suddenly find other priorities to focus on and then get caught in a loop of not finishing those other priorities either. It's a vicious circle, and the only way to break out of it is to see something through to the end, no matter what.

"It's not about ideas. It's about making ideas happen." -Scott Belsky, co-founder of Behance.

7. Envying.

Unsuccessful people tend to remain unhappy and unsuccessful because they spend too much time enviously focusing on the accomplishments of others. They refuse to take responsibility for their own lack of achievement, and jealously obsess about those who actually put the work in, take smart risks, and hit their goals.

8. Wasting Time.

There are a lot of ways to waste time on a given day, but the biggest time-waster of all is consumption.

The average American spends close to three hours a day watching television,
according to the U.S. Bureau of Labor. That doesn't even factor in how much time you waste browsing the Web.

You can't and won't be successful when the bulk of your time is spent consuming television, games, and pop culture.

We're all addicted to information in one form or another, but the most successful people consume in moderation and typically transform what they consume into something of value.

9. Hoping for failure.

Successful people naturally want their colleagues to succeed, because they know what it feels like to drive for and finally achieve that success. Unsuccessful people secretly hope others will fail.

"When you're in an organisation with a group of people, in order to be successful, you all have to be successful," says Dave Kerpen, author of The Art of People. That's why the most successful people want only for their co-workers to succeed, so the business will grow.

10. Focusing on the wrong things.

Successful people recognise that success comes from taking action--from bringing ideas to fruition. They talk about ideas and share them with the people around them to make those ideas better. Unsuccessful people focus on tearing down the individuals around them.

There's a trend in all of these behaviours. You can see how unsuccessful people's thoughts, motivations, and focus turns inward on themselves, rather than outward, focusing on others, the organisation, the business, and the growth. The most successful people are always looking beyond themselves--and that's where your attention needs to be in order to grow.

Quote for the day

"Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals." - Jim Rohn

The Rise and Fall of Yahoo

52 Lies You Must Ignore to Become Filthy Rich

By Roy Huff

Most people would like to become filthy rich. The thing is, what needs to be done in order to accomplish that goal may seem scary, especially if what you think is required limits your happiness or the happiness of others is some way. Fortunately, a great majority of those fears are based on lies, and I’ve listed them in reverse order.

1. Don’t be a single mom.

Danisha Danielle Hoston, was an LA native and a single mother in her twenties. Her daughter’s father died of cancer shortly after her birth. A couple of weeks later, Danisha was laid off her job and forced to go on welfare.

Despite her severe hardship, she didn’t give up. She persevered. That relentless effort transformed her life, and eventually she became a multimillionaire in commercial real-estate. There are numerous other stories of single mothers who became wealthy in spite of their challenges. You too can choose to become one of them.

2. Don’t have a mental or physical disability.

Jon Morrow, who suffers from spinal muscular atrophy (SMA), was expected to die at age two. Before he decided to turn his life around, he was wasting away in a wheelchair confined to spending all of his money, beyond $700, on medical expenses. In order to take control of his future, he had to rip off the onerous restrictions of the US government by quitting his job and moving to Mexico. He has since generated hundreds of millions of page views and tens of millions of dollars from three different companies. What’s your excuse?

3. Come from a stable family.

I am still reaching for my ideal self, but I didn’t let my parents’ separation, my father’s time in mental hospitals because of his bipolar disorder, or my father’s death from AIDS when I was 21 keep me from striving to achieve greatness. Many of you may come from more broken homes than I, but speaking from experience, your screwed up family can’t keep you from becoming wealthy, only you can.

4. Come from a wealthy Family.

Have you ever been homeless? If you answered yes, then there’s good news. Hundreds of homeless doers have transformed their lives, becoming millionaires and even billionaires.

John Paul DeJoria grew up in LA’s Echo Park. At one point, he was living on the street with his two-year-old son collecting soda-pop bottles for income. Can you imagine what it would be like living in your twenties and having to support a toddler while the only thing keeping your child from starvation or being taken away by child protective services is the amount of money you earn from collecting other people’s discarded soda bottles?

Can you imagine what he felt when he looked into his young two-year old’s eyes, what he worried his son thought about him as a father? Would you feel defeated, like a failure, or the worst possible human incapable of providing for your young child?

In spite of his circumstance, he set those feelings aside and did the leg work required to become wealthy. Twenty years after a heart-wrenching life on the streets he created a multi-billion-dollar empire. He did it by loving people, loving the planet, and using systems to create quality products that people love.

5. Be born in the United States.

Wealthy people are created from countries around the world all the time.

6. Have a high IQ.

There is some evidence that shows a relationship between IQ and income, but that’s not always the case when talking about wealth. There are numerous examples of filthy rich people with below average IQ or those in poverty with high IQ. Hubris has a way of encouraging bad financial choices and unnecessary risk.

Regardless of the numbers, wealth is created by habits and systems. If you don’t know anything about the systems, read the E-Myth Revisited by Michael Gerber.

7. Don’t become an artist.

We are all artists in our own way, every single one of us.

8. Be attractive.

Look at Google images for billionaires and millionaires. There are plenty with less than average looks.

9. Be a white male.

There are so many non-white male self-made billionaires now that Forbes puts them into their own categories.

10. The customer is always right.

Always strive for impeccable customer service, but If you have the authority, dump customers that are a time suck and mental drain. Give a refund and refuse business if you must. Unreasonable customers cost companies valuable resources, which could be used more effectively to improve the bottom line.

11. Spend more time and money.

Test marketing and product roll-out is easier than you think, and you can leverage other people’s time and money in most cases. If you lack funds, you can invest time. If time’s in short supply, make time by reducing aspects in your life like watching television or doing ineffective tasks. The 4-Hour Workweek by Timothy Ferris outlines how to do this in detail.

12. Wealth must come at the expense of the environment.

If you create value you save people time and money, both of which require effort. Less effort means fewer resources needed from the environment. You can also create value by innovating in ways that reduce pollution or benefits the environment directly. You can even give a portion of your gained wealth to improve the environment in a style that suits you.

13. Your gain is someone else’s loss.

Wealth is created not stolen. If that confuses you, think about where money comes from and how the first person became wealthy. They didn’t do it by taking from others. They couldn’t have; it didn’t exist yet. Becoming wealthy doesn’t divide the pie, it grows the pie. See the Richest Man in Babylon by George Clayson.

14. Invest in the stock market.

When done right, investing in the stock market is a great way to become rich, slowly. Most people will benefit from this sound financial advice, but investing in the stock market isn’t going to get you filthy rich unless you already have money or have more than a decade or two to wait. Trying to get rich quick in stocks is one of the fastest ways to lose most of your money.

15. Don’t Invest.

I know, I know. Your money is always invested in something, whether it’s currency or your time. If you invest in nothing, your money gets eaten away by inflation, losing half its value every twenty years. If you don’t invest in yourself, you become obsolete. Always invest in yourself, and once you have wealth, invest it appropriately.

16. If you want it done right, you have to do it yourself.

Get the right advice, outsource, delegate, automate and take advantage of what’s available. Being a one-person show will get you burned out and limit your potential. Let go of your ego and the need to micro-manage. Instead, magnify your efforts. It may cost a little up-front time and money, but the dividends down the road will be enormous.

17. Be stingy.

Wealthy people contribute more to their friendships. As a result, those around them give back in kind. When you give to others, you get back in return, if you spend time with the right people.

18. Be at the right time at the right place.

Your leg work is what makes it possible for you to be at the right time and place. More right times and places will find you once you put in the effort.

19. Never make a mistake.

Failure is necessary. It teaches you what works and what doesn’t.

20. Say yes all the time.

Successful people say no most of the time. If you can’t muster the courage to say no, think about this.

An associate asks you for a favour. You want to be nice, so you don’t say no. That favor then grows beyond what you thought it would initially entail, but now you’re committed. People spend substantial resources on your promise. You can’t back out. Weeks after planning, your daughter’s school schedules a performance for the exact same time, her first ever performance.

Your heart jumps. Your pulse races. Sweat dampens your skin. You look into your six-year old’s eyes. She sees your reaction. Her eyes well up. She sees it coming.

You tell her you can’t go. She asks you, “Why daddy?” What do you say? Do you admit you lacked the courage to tell someone who wasn’t that important in your life no to something you didn’t want to do in the first place? Was it worth it at the end?

Apply that same concept to business. How many opportunities must you turn down because of saying yes to something less important? Saying yes means saying no to everything else you could have said yes to in the future. Make your yes’s count by giving them only to things of great value.

21. Take unnecessary risk.

Wealthy people understand you can’t believe every fly-by-night scheme that comes your way. Estimate risk by seeking advice from those who made money in the area of your consideration.

22. Avoid risk.

Everything in life has risk, including doing nothing and maintaining the status quo. The trick is properly understanding that risk. Waiting to take action out of fear is a choice with little upside. If you aren’t moving forward, you’re moving backwards. It’s that simple.

23. Get lucky.

The smarter you work, the luckier you get.

24. Work hard.

Having persistence will only get you so far. You can easily spin the wheel for decades with no forward movement. You can work as hard as you like, but if your actions only move you at a snail’s pace in the right direction or you’re moving in the wrong direction, you’ll never achieve your goal.

If you aren’t getting where you want to go, ask yourself why. Put in the needed effort, but always work smarter instead of harder if given a choice, and don’t be afraid to change course once it becomes clear you’re headed in the wrong direction.

25. Apply little effort.

You won’t succeed at anything if you don’t see it through or give it a decent effort. Work smart, but some effort is always required, so do what’s needed to get you where you want to go.

26. Burn the midnight oil.

If you can’t get your work done without averaging at least seven hours of sleep, you’re doing something wrong. Use the Pareto Principle to cut the fat and focus on primary tasks that move you forward and then eliminate, delegate, and outsource everything else.

27. Take no vacations.

Wealthy people who are active in their own businesses take more vacations than typical workers. This goes back to the Pareto Principle.

28. Have a packed daily schedule.

You need an effective schedule. An overly packed schedule will burn you out and harm other important areas of your life.

29. Sacrifice your health.

Physical health improves your focus and energy, both of which increase the odds of success. Not to mention that it’s harder to get it back once it’s lost. Make sure you set aside time for physical activity. It will increase your energy and make you more effective.

30. Sacrifice your family.

Proper use of time allows you to focus on what’s important. There are many opportunities to involve family in various aspects of your life. Kill two birds with one stone by exercising with your friends and family or including your loved ones in your weekly reflections and goal setting sessions.

31. Forego happiness.

If you do what you love, it is easier to reach your goals. Passion creates motivation. If you make the changes in your life needed to become wealthy, happiness will usually follow.

32. Listen to your family.

Your family members may have the best intentions in mind, but their fear of your failure can often blind them to the passion that burns in your heart. Hear what people have to say, but seek advice from those you wish to emulate.

33. Just get started.

Plan, then do.

34. Make the perfect plan.

It’s impossible to see the future or have a contingency for every scenario. No plan is ever perfect, but an imperfect plan is almost always better than no plan. If the one you create flops, you can always learn from it.

Spend a modest amount of effort, dot your i’s and cross your t’s, but give yourself a deadline to prevent fear from paralysing you. Lay the groundwork for your plan and force action once your research confirms you have a viable business model.

35. Dream.

Dreams are great, but a dream will never happen if you don’t take action to get the ball rolling. Make a plan. Dream bigger, but live bolder.

36. You have to be original.

Originality can be helpful, but so can making something that already exists more effective.

37. Be selfless.

It is hard to motivate yourself to do something you hate, so do something you love instead. Moreover, if you give away all your time and money, you will have nothing left to invest. This doesn’t mean you can’t help others. You should, but do it on your terms in a way that is a win-win for all concerned. If people really care about you, they’ll respect your decision.

38. Lie, cheat, and steal.

This is more likely to land you in jail or get you expelled. You may get away with it for a while and even make some money, but eventually people will catch on and stop doing business with you. Real, sustained wealth requires giving people what they want at a price that provides value.

39. You have to get good grades.

Seriously? No one cares about your GPA after you graduate. According to the Millionaire Mind by Dr. Thomas J. Stanley, the average self-made millionaire in the US earned a 2.76 GPA in high school.

40. You need to get accepted at the “right” school.

Your alma mater may be a point of pride, but what really matters is what you bring to the table. If you have the skills, you can work wherever you want including for yourself.

41. You must go to college.

College serves a purpose and everyone should be a lifelong learner but, college isn’t always the most effective way to learn. Most of what is taught in college can be learned for free, take this from a teacher and a former student with five degrees. A desire to be wealthy isn’t why most people go to college. They go to college to get a J-O-B.

People spend large amounts of time and money for their major and are often less inclined to switch paths even if they are unhappy, unmotivated, or unsuccessful in their field. That reduced flexibility can make it harder to become wealthy.

If your passion lies in a career that requires you to go college then by all means do so, but don’t think for a second that college is necessary to become wealthy.

42. Climb the corporate ladder.

You don’t need become a CEO to be super rich. Most people don’t become filthy rich by working for a company. You don’t even need to climb the corporate ladder to become a CEO.

43. Get a “good” job.

A “good” job might make you moderately rich after decades of labor and toil, but if you want to become somewhat rich slowly, smart budgeting and investing can get you there on a less labour intensive, lower paying job, or with one you actually enjoy.

Most wealthy people don’t become filthy rich by getting a “good” job. Just look at the research from the Millionaire Next Door by Thomas J. Stanley, which explains how the vast majority of the rich created wealth by starting their own businesses.

44. Eighty percent of businesses fail in the first five years.

Not all businesses in that statistic lost money. Many of them were set aside for greater opportunities. Regardless, if you’re afraid to fail, you will never get the opportunity to succeed. If you don’t give yourself the chance to be in the 20 percent, then you won’t be.

45. Listen to the experts.

The key here is which experts. Your teachers, co-workers, and friends usually can’t give you the advice you need. Talking heads and highly educated Ivy League graduates shouldn’t be your primary source of advice either.

People who failed or never tried may be good examples of what not to do, but the advice you need is best gained by listening to those who’ve already achieved the life you wish to emulate. Choose wisely.

46. Lack integrity.

Filthy rich scumbags are a great foil used to create conflict in fiction, but most successful people know that having integrity is one of the greatest predictors of wealth.

47. It’s impossible.

Just because something hasn’t been done before, doesn’t mean it can’t be done. You may not always succeed, but people do the seemingly impossible every single day. So can you.

48. Be realistic.

Being realistic is what average people do. Filthy rich people become wealthy by being too stupid to know the difference or by being fearless and driven to push beyond what everyone else thinks is reasonable.

49. Being filthy rich means being money-centric.

Most super wealthy people understand that finances are only one part of what is required to become and stay wealthy. Integrity, flexibility, passion, health, and other factors are equally important.

50. You can’t help other people.

Don’t let guilt keep you from achieving your ideal self. If you really care about people, then maximise your ability to help others by becoming more successful. Success keeps you from being a burden on society. It sets a great example for others to follow, and it provides the skills and resources needed to help those who lack both.

Business and wealth also create jobs and value through innovation. Who helped more people: Steve Jobs, or Mother Teresa?

51. Wait.

Patience is a virtue, but inaction is a vice.

52. It’s all about marketing.

It’s all about value. Excellent marketing is a must, but your wealth is directly tied to providing the greatest value to the most people.

One way to look at is in terms of numbers, what I like to call the Huff Value Index. The dollar value you create for one person is one number. The total number of people who can benefit from your product is the second number. Multiply those two together and you get the total possible value.

The final piece is marketing, zero being no marketing whatsoever and one being the best possible marketing at 100% saturation. You multiply that final number somewhere between zero and one by the total possible value to get the actual value.

Total possible value and marketing are both important, but it’s the total possible value in the Huff Value Index that has the most impact and greatest potential upside for your wealth.

Source: www.lifehack.org

Quote for the day

"There are two different types of people in the world, those who want to know, and those who want to believe." - Friedrich Nietzsche

Colombo Stock Exchange Trade Summary 05-Aug-2016