Saturday, 27 June 2009
Bill Gates Says That Warren Buffett Taught Him Simplicity
Posted on 23:43 by Unknown
Friday, 26 June 2009
Why Multi-tasking Costs An Internet Marketer Money
Posted on 10:18 by Unknown
Let's say that you have three internet marketing projects that you would like to implement - call them A, B, and C.
To keep the example simple, let's say that each one will take 3 full months to set up and, after that, each one will generate $100 per month passively.
What happens if we try to multi-task and set the three projects up simultaneously? Since we can only devote 1/3 of our time to each project, it takes 9 months before A, B, and C are up. At that point, we will make $300 per month. So, in the first year, we will end up making $900 ($0 for the first 9 months and then $900 for the last 3 months).
What happens if we single-task the projects? We get project A up after 3 months. Then, during the next 3 months, we will earn $100/month from project A while we set up project B. In the next 3 months, we make $200/month while we set up project C. Finally, we earn $300/month for the final three months of the year. So, in the first year, we end up making $1800 ($0 for the first 3 months, $300 for the next 3 months, $600 for the next 3 months, then $900 for the last 3 months).
To keep the example simple, let's say that each one will take 3 full months to set up and, after that, each one will generate $100 per month passively.
What happens if we try to multi-task and set the three projects up simultaneously? Since we can only devote 1/3 of our time to each project, it takes 9 months before A, B, and C are up. At that point, we will make $300 per month. So, in the first year, we will end up making $900 ($0 for the first 9 months and then $900 for the last 3 months).
What happens if we single-task the projects? We get project A up after 3 months. Then, during the next 3 months, we will earn $100/month from project A while we set up project B. In the next 3 months, we make $200/month while we set up project C. Finally, we earn $300/month for the final three months of the year. So, in the first year, we end up making $1800 ($0 for the first 3 months, $300 for the next 3 months, $600 for the next 3 months, then $900 for the last 3 months).
Thursday, 25 June 2009
Two Recommended Stocks: ATVI and WOOF
Posted on 13:49 by Unknown
The June 8 issue of Forbes included 2 interesting stock picks:
1. Activision Blizzard (ATVI) - This company was created last July with the merger of Vivendi's Blizzard Entertainment and Activision. Vivendi is now the largest shareholder, but Activision's boss, Robert Kotick, is the CEO.
After the merger, the company has three franchises: World of Warcraft, Guitar Hero, and Call of Duty.
The stock trades at $12.64, has no debt, and has $2.35 per share in cash. The company says it should earn 63 cents per share in 2009. Analysts predict it will earn 79 center per share in 2010, when it releases Guitar Hero Van Halen, DJ Hero, and Wrath of the Lich King in China.
2. VCA Antech (WOOF) - It operates 471 animal hospitals and 44 veterinary diagnostic labs. Unlike human health care, most payments are in cash and they don't have to deal with Medicare. It's bad-debt expense has averaged less than 1% for the last 3 years. Their revenues and profits were up 10% in 2008.
Revenue only gained 3% in the first quarter of 2009, but their managers are "rabid cost-cutters". The stock is up 22% in 2009, but they are still buying veterinary practices, and analysts feel it is a "recession resistant" growth stock.
These stocks should be good for buy/hold, but should work really well with my Stock Trading Riches System, which captures volatility through its re-balancing formulas.
1. Activision Blizzard (ATVI) - This company was created last July with the merger of Vivendi's Blizzard Entertainment and Activision. Vivendi is now the largest shareholder, but Activision's boss, Robert Kotick, is the CEO.
After the merger, the company has three franchises: World of Warcraft, Guitar Hero, and Call of Duty.
The stock trades at $12.64, has no debt, and has $2.35 per share in cash. The company says it should earn 63 cents per share in 2009. Analysts predict it will earn 79 center per share in 2010, when it releases Guitar Hero Van Halen, DJ Hero, and Wrath of the Lich King in China.
2. VCA Antech (WOOF) - It operates 471 animal hospitals and 44 veterinary diagnostic labs. Unlike human health care, most payments are in cash and they don't have to deal with Medicare. It's bad-debt expense has averaged less than 1% for the last 3 years. Their revenues and profits were up 10% in 2008.
Revenue only gained 3% in the first quarter of 2009, but their managers are "rabid cost-cutters". The stock is up 22% in 2009, but they are still buying veterinary practices, and analysts feel it is a "recession resistant" growth stock.
These stocks should be good for buy/hold, but should work really well with my Stock Trading Riches System, which captures volatility through its re-balancing formulas.
Money Hacks Carnival #70
Posted on 09:30 by Unknown
The 70th edition of the Money Hacks blog carnival is up - with a lot of good financial and passive income posts.
Wednesday, 24 June 2009
Did The Federal Reserve Force BofA to Buy Merill Lynch?
Posted on 21:14 by Unknown
Tuesday, 23 June 2009
First Look at Tim Burton's Alice in Wonderland
Posted on 14:27 by Unknown
Friday, 19 June 2009
Carnival of road to financial independence #8
Posted on 23:22 by Unknown
The Carnival of road to financial independence #8 is up and has a lot of good posts on money, wealth, and finance.
Wednesday, 17 June 2009
From a Business Perspective, What's So Great About Twitter, Anyway?
Posted on 15:57 by Unknown
Well, I joined Twitter a couple of weeks ago (SimplePraveen), and I would never ask that question anymore. I think that Twitter will become a new cornerstone in the internet, just like Facebook, My Space, Linked In, and blogging - thus Twitter will have just as much of an impact on business, marketing, and brand building.
The main difference between Twitter and these other social media sites is that these other sites are set up to build one-to-one networking links between people, and they encourage their users to post as much content as they want. With Twitter, the networking is more like one-to-many, and users are limited to 140 character messages.
This limitation forces people to be creative. It also fosters more usage, because people are drawn to Twitter's simplicity, and are less likely to get writer's block and procrastinate.
I think a good way to think of Twitter is that it combines the one-to-many aspect of email with the immediacy of instant messaging. You are basically sending 140 character (or less) instant messages to all the people who follow you. The size restriction means that Twitter is ideally suited to building relationships and branding - rather than hard sells.
Here are 2 inexpensive sources of information I am currently using to learn more about Twitter and marketing / brand building:
1. Joel Comm's new book Twitter Power
2. Twitter Traffic Machine course
The main difference between Twitter and these other social media sites is that these other sites are set up to build one-to-one networking links between people, and they encourage their users to post as much content as they want. With Twitter, the networking is more like one-to-many, and users are limited to 140 character messages.
This limitation forces people to be creative. It also fosters more usage, because people are drawn to Twitter's simplicity, and are less likely to get writer's block and procrastinate.
I think a good way to think of Twitter is that it combines the one-to-many aspect of email with the immediacy of instant messaging. You are basically sending 140 character (or less) instant messages to all the people who follow you. The size restriction means that Twitter is ideally suited to building relationships and branding - rather than hard sells.
Here are 2 inexpensive sources of information I am currently using to learn more about Twitter and marketing / brand building:
1. Joel Comm's new book Twitter Power
2. Twitter Traffic Machine course
Monday, 15 June 2009
Puppy Survives Getting Flushed Down Toilet
Posted on 21:09 by Unknown
Philosophy: Carrots, Eggs, and Coffee
Posted on 08:34 by Unknown
| A young woman went to her mother and told her about her life and how things were so hard for her. She did not know how she was going to make it and wanted to give up, She was tired of fighting and struggling. Her mother took her to the kitchen. She filled three pots with water and placed each on a high fire. Soon the pots came to boil. In the first she placed carrots, in the second she placed eggs, and in the last she placed ground coffee beans.. She let them sit and boil; without saying a word. In about twenty minutes she fished the carrots out and placed them in a bowl. She pulled the eggs out and placed them in a bowl. Then she ladled the coffee out and placed it in a bowl. Turning to her daughter, she asked, ' Tell me what you see.' 'Carrots, eggs, and coffee,' she replied. Her mother brought her closer and asked her to feel the carrots. She did and noted that they were soft. The mother then asked the daughter to take an egg and break it. After pulling off the shell, she observed the hard boiled egg. Finally, the mother asked the daughter to sip the coffee. The daughter smiled as she tasted its rich aroma. The daughter then asked, 'What does it mean, mother?' Her mother explained that each of these objects had faced the same adversity: boiling water. Each reacted differently. The carrot went in strong, hard, and unrelenting. However, after being subjected to the boiling water, it softened and became weak. The egg had been fragile.. Its thin outer shell had protected its liquid interior, but after sitting through the boiling water, its inside became hardened. The ground coffee beans were unique, however. After they were in the boiling water, they had changed the water. 'Which are you?' she asked her daughter. 'When adversity knocks on your door, how do you respond? Are you a carrot, an egg or a coffee bean? Think of this: Which am I? Am I the carrot that seems strong, but with pain and adversity do I wilt and become soft and lose my strength? Am I the egg that starts with a malleable heart, but changes with the heat? Did I have a fluid spirit, but after a death, a breakup, a financial hardship or some other trial, have I become hardened and stiff? Does my shell look the same, but on the inside am I bitter and tough with a stiff spirit and hardened heart? Or am I like the coffee bean? The bean actually changes the hot water, the very circumstance that brings the pain. When the water gets hot, it releases the fragrance and flavor. If you are like the bean, when things are at their worst, you get better and change the situation around you. When the hour is the darkest and trials are their greatest do you elevate yourself to another level? How do you handle adversity? Are you a carrot, an egg or a coffee bean? May you have enough happiness to make you sweet, enough trials to make you strong, enough sorrow to keep you human and enough hope to make you happy. The happiest of people don't necessarily have the best of everything; they just make the most of everything that comes along their way. The brightest future will always be based on a forgotten past; you can't go forward in life until you let go of your past failures and heartaches. When you were born, you were crying and everyone around you was smiling. Live your life so at the end, you're the one who is smiling and everyone around you is crying. May we all be COFFEE (beans) !!!!!! ! Love....Peace.....Joy |
Thursday, 11 June 2009
Carnival of Cashflow Consciousness #3
Posted on 14:32 by Unknown
The Carnival of Cashflow Consciousness #3 is now up, with lots of great posts on money, prosperity, and passive income.
I'm Becoming Semi-famous!
Posted on 07:57 by Unknown
| I guess I'm becoming known for teaching stock trading because I saw today that someone is bidding on my name in Google Adwords. If you do a Google search for Praveen Puri, their ad pops up with the headline "Avoid Praveen Puri" and then says to buy their stock trading system instead. That's so cool and I'm so flattered! |
Wednesday, 10 June 2009
Praveen Puri Interview
Posted on 16:43 by Unknown
| Praveen Puri, author of "Stock Trading Riches", is interviewed by Canadian freelance writer Laurie Pawlik-Kienlen. |
A Log Vacation Home
Posted on 14:53 by Unknown
I was just thinking that, if I had the money, it would be great to have a large log home on a hill or mountainside - overlooking a stream with bright blue water.
Let's picture Montana - perhaps with a glacier or mountain in the background.
The log house would have an open floor plan and wrap around porch.
Inside, the house would be furnished with beautiful, hand crafted pieces of rustic furniture made with the finest wood. There would be large, over-sized, comfortable chairs and sofas.
It might be nice to have a high-quality, hand-made oaken rocking chair by the warm and massive fireplace.
Let's picture Montana - perhaps with a glacier or mountain in the background.
The log house would have an open floor plan and wrap around porch.
Inside, the house would be furnished with beautiful, hand crafted pieces of rustic furniture made with the finest wood. There would be large, over-sized, comfortable chairs and sofas.
It might be nice to have a high-quality, hand-made oaken rocking chair by the warm and massive fireplace.
Money Hacks Carnival 68
Posted on 10:44 by Unknown
The Money Hacks Carnival 68 - Stanley Cup Final Edition is now online with a lot of interesting financial posts.
Fw: Elderly Woman Loses Life Savings After Daughter's Gift
Posted on 09:16 by Unknown
| I think that if they find the mattress in the stinky dump, they will have to do some "money laundering" ;-) |
Tuesday, 9 June 2009
How to Generate Referrals
Posted on 09:29 by Unknown
A lot of businesses and internet marketers reward customers and affiliates who generate leads and/or sales.
But, businesses can get more referrals (especially getting their existing customers to refer their friends) by giving a benefit to both of them.
This works especially great if you have a business providing goods or services that people buy more than once - for example, a massage therapist. In this case, it won't cost you much to provide free massages to new referrals - and the customers who referred them.
For example, I have my trading account with Scottrade. If I refer people to Scottrade and they open an account with my referral code (ZNTJ5666), then we will both get three free trades.
Another example I have seen is with a service called DropBox, which is an online storage site that lets you put folders on your computers and syncs between them. I am not a customer of theirs, but I saw someone promoting it and, it turns out, if you sign up, they give both you and the referrer extra storage space.
If you have a business (such as affiliate marketing) where customers don't buy the same good or service twice, you could create a rebate or discount program for other products, or a special report or course that would be given to both the referrer and the new customer.
You are only limited by your imagination!
The main takeaway is that both the referrer AND the new lead/customer are rewarded.
(Of course, it almost goes without saying that your business has to have integrity, and your products / services must be high-quality and give good value for the price, otherwise no gimmick will compensate).
But, businesses can get more referrals (especially getting their existing customers to refer their friends) by giving a benefit to both of them.
This works especially great if you have a business providing goods or services that people buy more than once - for example, a massage therapist. In this case, it won't cost you much to provide free massages to new referrals - and the customers who referred them.
For example, I have my trading account with Scottrade. If I refer people to Scottrade and they open an account with my referral code (ZNTJ5666), then we will both get three free trades.
Another example I have seen is with a service called DropBox, which is an online storage site that lets you put folders on your computers and syncs between them. I am not a customer of theirs, but I saw someone promoting it and, it turns out, if you sign up, they give both you and the referrer extra storage space.
If you have a business (such as affiliate marketing) where customers don't buy the same good or service twice, you could create a rebate or discount program for other products, or a special report or course that would be given to both the referrer and the new customer.
You are only limited by your imagination!
The main takeaway is that both the referrer AND the new lead/customer are rewarded.
(Of course, it almost goes without saying that your business has to have integrity, and your products / services must be high-quality and give good value for the price, otherwise no gimmick will compensate).
Monday, 8 June 2009
How to Compare Logo Design Companies while searching for one
Posted on 09:58 by Unknown
Typically, the logo associated with your business enterprise will be the first thing that a potential client or customer will lay his or her eyes on. Therefore, it absolutely is crucial that you have designed a logo for your business that will appeal to consumers in many different ways and on a variety of levels. In the end, this really does require the aid and assistance of a professional logo design firm.
Selecting a suitable logo design firm can seem like a challenging task on first blush. However, through this article you will be provided with a basic outline that you can follow as you go about finding a logo design firm that will be able to ensure that you obtain the corporate image that you must have for your business enterprise.
There are four basic and essential factors that you need to take into consideration when you are seeking a professional logo design firm:
experience
design concepts
price and cost
revisions
guarantee
Experience ... Experience ... Experience
When all is said and done, perhaps the most important consideration that you need to bear in mind when it comes to selecting a logo design company is the depth of experience of a particular provider. While there are educational programs that logo designers can undertake, in the end the most proficient logo pros and logo design firms are those individuals that have an established track record.
Indeed, when you are considering the experience of a particular logo design firm, you will want to take that consideration one step further. You will want to examine how much experience a particular firm has in designing logos for businesses in or associated with your industry. By doing so you will be in the best possible position of ascertaining which logo design company really does have an established track record of success in working with and for businesses quite like your own.
Design Concepts
Another factor that you will want to focus on when weighing the pros and cons of different logo design firms is the design concepts that they enumerate. In this regard you will want to find out what design concepts they envision for your own project before you sign on the bottom line and engage their services. Moreover, you will want to be able to examine design concepts that the firm has crafted and created for other businesses in the past – particularly enterprises of a similar or related nature to your own.
In this regard, you definitely will want to examine examples of their previous work; you will want to take a look at the company's portfolio. A successful logo design company will be proud to show off their past accomplishments.
Price Issues
Keep in mind that there can be some fairly significant differences in the fees that are charged from one logo design firm to the next. Therefore, it behooves you to do some shopping around and price comparisons when you are looking to engage the services of a logo design firm.
Obviously, we are living and running our businesses in tough financial times. Therefore, you will want to get the best possible “deal” when it comes to the fee for services being charged by a logo design company. However, with this in mind, you need to come to an understanding that the cheapest fee may not be the most appropriate.
When it comes to logo design, there is some truth to the old adage that you get what you pay for. Therefore, while there is no need to engage the services of the most expensive firm – there comes a line when the price becomes outlandish – you likely do not want to hire the firm charging the cheapest rate either.
You need to weigh and balance fees, prices and costs with the other considerations outlined in this article. In the end, you want to select a logo design company that charged a reasonable fee.
Guarantee
As you go about considering different logo design companies, you also will need to pay attention to the guarantee that a particular firm offers. Many firms will extend a guarantee in which you get your money back if you are not fully satisfied with the ultimate product.
Revisions
Odds are that even the best logo design firm, the most highly regarded logo design company, is not going to “get your logo right” on the first attempt. In most cases, a number of drafts and revisions will be necessary.
As you look around for a logo design company that will be most appropriately suited to your needs and goals, pay attention to how the revision process at a particular firm will work and how many revisions you will be entitled before you start to incur addition costs and expenses.
Conclusion
By paying attention to and following the pointers and suggestions outlined for you in this article you will be in the best position to select a logo design company that will be able to satisfy your branding and image goals and objectives. You will be able to find affordably priced logo design services that will be ideally suited to your needs.
A small bio:
This is guest post from Ben Johnson of Logoinn, custom logo design service provider based in UK.
Selecting a suitable logo design firm can seem like a challenging task on first blush. However, through this article you will be provided with a basic outline that you can follow as you go about finding a logo design firm that will be able to ensure that you obtain the corporate image that you must have for your business enterprise.
There are four basic and essential factors that you need to take into consideration when you are seeking a professional logo design firm:
experience
design concepts
price and cost
revisions
guarantee
Experience ... Experience ... Experience
When all is said and done, perhaps the most important consideration that you need to bear in mind when it comes to selecting a logo design company is the depth of experience of a particular provider. While there are educational programs that logo designers can undertake, in the end the most proficient logo pros and logo design firms are those individuals that have an established track record.
Indeed, when you are considering the experience of a particular logo design firm, you will want to take that consideration one step further. You will want to examine how much experience a particular firm has in designing logos for businesses in or associated with your industry. By doing so you will be in the best possible position of ascertaining which logo design company really does have an established track record of success in working with and for businesses quite like your own.
Design Concepts
Another factor that you will want to focus on when weighing the pros and cons of different logo design firms is the design concepts that they enumerate. In this regard you will want to find out what design concepts they envision for your own project before you sign on the bottom line and engage their services. Moreover, you will want to be able to examine design concepts that the firm has crafted and created for other businesses in the past – particularly enterprises of a similar or related nature to your own.
In this regard, you definitely will want to examine examples of their previous work; you will want to take a look at the company's portfolio. A successful logo design company will be proud to show off their past accomplishments.
Price Issues
Keep in mind that there can be some fairly significant differences in the fees that are charged from one logo design firm to the next. Therefore, it behooves you to do some shopping around and price comparisons when you are looking to engage the services of a logo design firm.
Obviously, we are living and running our businesses in tough financial times. Therefore, you will want to get the best possible “deal” when it comes to the fee for services being charged by a logo design company. However, with this in mind, you need to come to an understanding that the cheapest fee may not be the most appropriate.
When it comes to logo design, there is some truth to the old adage that you get what you pay for. Therefore, while there is no need to engage the services of the most expensive firm – there comes a line when the price becomes outlandish – you likely do not want to hire the firm charging the cheapest rate either.
You need to weigh and balance fees, prices and costs with the other considerations outlined in this article. In the end, you want to select a logo design company that charged a reasonable fee.
Guarantee
As you go about considering different logo design companies, you also will need to pay attention to the guarantee that a particular firm offers. Many firms will extend a guarantee in which you get your money back if you are not fully satisfied with the ultimate product.
Revisions
Odds are that even the best logo design firm, the most highly regarded logo design company, is not going to “get your logo right” on the first attempt. In most cases, a number of drafts and revisions will be necessary.
As you look around for a logo design company that will be most appropriately suited to your needs and goals, pay attention to how the revision process at a particular firm will work and how many revisions you will be entitled before you start to incur addition costs and expenses.
Conclusion
By paying attention to and following the pointers and suggestions outlined for you in this article you will be in the best position to select a logo design company that will be able to satisfy your branding and image goals and objectives. You will be able to find affordably priced logo design services that will be ideally suited to your needs.
A small bio:
This is guest post from Ben Johnson of Logoinn, custom logo design service provider based in UK.
Saturday, 6 June 2009
On the Moneyed Midways - June 5, 2009
Posted on 22:01 by Unknown
On the Moneyed Midways is a blog carnival of carnivals.
It chooses the best posts from different business/finance blog carnivals.
It chooses the best posts from different business/finance blog carnivals.
Carnival of the Capitalists for 2009-06-01
Posted on 21:57 by Unknown
Check out the latest edition of the Carnival of the Capitalists for great business posts.
Carnival of Financial Planning - Edition #92
Posted on 21:56 by Unknown
The Carnival of Financial Planning - Edition #92 is up at ZachStocks - with a lot of great posts!
Friday, 5 June 2009
Can I Borrow $25?
Posted on 12:21 by Unknown
| A man came home from work late, tired and irritated, to find his 5-year old son waiting for him at the door. SON: 'Daddy, may I ask you a question?' DAD: 'Yeah sure, what it is?' replied the man. SON: 'Daddy, how much do you make an hour?' DAD: 'That's none of your business. Why do you ask such a thing?' the man said angrily. SON: 'I just want to know. Please tell me, how much do you make an hour?' DAD: 'If you must know, I make $50 an hour.' SON: 'Oh,' the little boy replied, with his head down. SON: 'Daddy, may I please borrow $25?' The father was furious, 'If the only reason you asked that is so you can borrow some money to buy a silly toy or some other nonsense, then you march yourself straight to your room and go to bed. Think about why you are being so selfish. I don't work hard everyday for such childish frivolities.' The little boy quietly went to his room and shut the door. The man sat down and started to get even angrier about the little boy's questions. How dare he ask such questions only to get some money? After about an hour or so, the man had calmed down , and started to think: Maybe there was something he really needed to buy with that $25.00 and he really didn't ask for money very often. The man went to the door of the little boy's room and opened the door. 'Are you asleep, son?' He asked. 'No daddy, I'm awake,' replied the boy. 'I've been thinking, maybe I was too hard on you earlier' said the man. 'It's been a long day and I took out my aggravation on you. Here's the $25 you asked for.' The little boy sat straight up, smiling. 'Oh, thank you daddy!' He yelled. Then, reaching under his pillow he pulled out some crumpled up bills. The man saw that the boy already had money, started to get angry again. The little boy slowly counted out his money, and then looked up at his father. 'Why do you want more money if you already have some?' the father grumbled. 'Because I didn't have enough, but now I do,' the little boy replied. 'Daddy, I have $50 now. Can I buy an hour of your time? Please come home early tomorrow. I would like to have dinner with you.' The father was crushed. He put his arms around his little son, and he begged for his forgiveness. It's just a short reminder to all of you working so hard in life. We should not let time slip through our fingers without having spent some time with those who really matter to us, those close to our hearts. Do remember to share that $50 worth of your time with someone you love. If we die tomorrow, the company that we are working for could easily replace us in a matter of hours. But the family & friends we leave behind will feel the loss for the rest of their lives. |
The Preacher
Posted on 10:58 by Unknown
| A deacon is in the hospital and his good friend, a preacher, goes to visit him. The preacher notices all the medical equipment attached to the deacon. He kneels by the bed. The deacon motions to a pad and pen on the nightstand. The preacher hands his friend the pad and pen, and the deacon begins to write. Suddenly, the deacon dies. At his funeral, the preacher delivers the service. He says, "I was with him when he died, and as a matter of fact, I have his last thought in my coat pocket here." The preacher pulls out the paper and reads, "Please, get up. You're kneeling on my oxygen hose." |
Thursday, 4 June 2009
Business Lessons From Holiday Inn Express
Posted on 15:08 by Unknown
Rich Karlgaard, the editor of Forbes Magazine, recently had a blog post called "The Holiday Inn Express Solution".
In the post, Karlgaard, who travels a lot as a speaker, explained how economic conditions have made him switch from his regular hotels (Ritz-Carlton, Four Seasons, JW Marriott) to lower-priced ones (Residence Inn, Hyatt Place, and Holiday Inn Express). He found the new hotels surprisingly good (free wireless internet, fresh beds, flat panel TVs, self-serve breakfast buffets, etc).
Karlgaard goes on to explain how these Inns are the "Charles Schwabs" (i.e. discount brokers) of the hotel world. In other words, they are examples of disruptive technology - cheap, easy to use, focus on a simple mission, and achieve it.
He then brainstormed about the need and opportunity to apply this kind of thinking to "broken" industries like cars, banking, health care, and energy. What would be their equivalent "Holiday Inn Express?"
i.e. for the auto industry, in might be a way to configure and build cars like Dell computers.
In the post, Karlgaard, who travels a lot as a speaker, explained how economic conditions have made him switch from his regular hotels (Ritz-Carlton, Four Seasons, JW Marriott) to lower-priced ones (Residence Inn, Hyatt Place, and Holiday Inn Express). He found the new hotels surprisingly good (free wireless internet, fresh beds, flat panel TVs, self-serve breakfast buffets, etc).
Karlgaard goes on to explain how these Inns are the "Charles Schwabs" (i.e. discount brokers) of the hotel world. In other words, they are examples of disruptive technology - cheap, easy to use, focus on a simple mission, and achieve it.
He then brainstormed about the need and opportunity to apply this kind of thinking to "broken" industries like cars, banking, health care, and energy. What would be their equivalent "Holiday Inn Express?"
i.e. for the auto industry, in might be a way to configure and build cars like Dell computers.
I Wish I Was a Better Marketer...
Posted on 14:13 by Unknown
It can't be stressed enough that marketing is the most important skill for internet entrepreneurs, authors, and self-employed professionals. It even trumps actual skill in your field.
I wish I was a better marketer - then I could sell more "Stock Trading Riches" books, so that more people could benefit.
There are so many 1/2-thought-out, cr*ppy trading systems out there, but my system actually works!
I made a +13% return in 2005, +14% return in 2006, +22% return in 2007, -40% last year (when approximating the internal rate of return because my account's ending value was down 3.5% from my starting value, but I had added money), and so far have a +27% return in 2009.
The -40% was close to the market's loss - which was the worst year since the Depression.
Over the four and 1/2 year period (from 2005 - now), I've beaten the market with a 4% average annual return - better than money markets during the toughest environment for stocks since the 1930's.
But these systems sell more because their sellers are better marketers than I am. Thus, I really need to study and improve my skills in this area.
I wish I was a better marketer - then I could sell more "Stock Trading Riches" books, so that more people could benefit.
There are so many 1/2-thought-out, cr*ppy trading systems out there, but my system actually works!
I made a +13% return in 2005, +14% return in 2006, +22% return in 2007, -40% last year (when approximating the internal rate of return because my account's ending value was down 3.5% from my starting value, but I had added money), and so far have a +27% return in 2009.
The -40% was close to the market's loss - which was the worst year since the Depression.
Over the four and 1/2 year period (from 2005 - now), I've beaten the market with a 4% average annual return - better than money markets during the toughest environment for stocks since the 1930's.
But these systems sell more because their sellers are better marketers than I am. Thus, I really need to study and improve my skills in this area.
Sometimes You Bend Your Trading Rules...
Posted on 13:05 by Unknown
I usually am a staunch believer in following your trading system.
Since I follow the basic Stock Trading Riches system, I only re-balance each stock position once a year.
Today, however, I did a re-balance. I will still do the regular re-balance at the end of the year for any positions that move at least 10% by then.
I decided to do the extra re-balance because, after experiencing my first losing year in 2008, my portfolio is now up 27% so far in 2009. I felt uncomfortable keeping that much of an open profit in this volatile market.
The only downside would be if the market keeps climbing this year - in that case, any additional gains will be less than if I hadn't re-balanced. For example, if the market climbs another 5% from here, I might only make an additional 3%. But, since +27% is excellent for a year, I don't mind.
Since I follow the basic Stock Trading Riches system, I only re-balance each stock position once a year.
Today, however, I did a re-balance. I will still do the regular re-balance at the end of the year for any positions that move at least 10% by then.
I decided to do the extra re-balance because, after experiencing my first losing year in 2008, my portfolio is now up 27% so far in 2009. I felt uncomfortable keeping that much of an open profit in this volatile market.
The only downside would be if the market keeps climbing this year - in that case, any additional gains will be less than if I hadn't re-balanced. For example, if the market climbs another 5% from here, I might only make an additional 3%. But, since +27% is excellent for a year, I don't mind.
Tuesday, 2 June 2009
I Signed Up to Twitter
Posted on 10:05 by Unknown
| You can follow me if you want: http://twitter.com/simplepraveen |
Monday, 1 June 2009
Carnival of 20 Somethings Finance
Posted on 08:24 by Unknown
My post on easy ways to generate cash was included in the latest edition.
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