On the 8 Spot

So True!

Often is the day that doing small things, doing chores, doing minutae, and poof the 8 hours of work is done, then time for self begins, its starts wit reading something, a few articles from hacker news or reddit, cleaning out my inbox, reading my feeds, postingon my blog,  and poof 8 hours passes without doing anything significant.

The good thing is that there is never a week where I do not spend at least 4 hours straight on doing something of significance for me. The truth of the matter is that these four hours are the fuel for me, keeps me happy, probably my biggest luxury.

No great thoughts are hard to come by but I believe it starts with the desire to and the will to have the time and concentration necessary for it.

For most of us, even those with the best of intentions about getting earthshaking ideas, the minutiae of life bubble to the top of our consciousnesses, crowding out any incipient great thoughts. When we have no great things to worry about, the small ones rise up and keep us awake at night.

I once heard a story about Einstein that is probably apocryphal, but I like the message it conveys. Supposedly, Einstein was confronted by a student who said that he kept a pencil and paper by his bed in case an idea surfaced while he was sleeping. “Do you do that?” he asked Einstein. “Alas,” Einstein replied, “I seldom get ideas.”

IEEE Spectrum: Great Thoughts.

Excellent advice on how to get rich from mark cuban owner of the dallas mavericks.

emphasis are mine and please do read the whole thing.

First, here is WHAT NOT TO DO:

There are no shortcuts. NONE. With all of this craziness in the stock and financial markets, there will be scams popping up left and right. The less money you have, the more likely someone will come at you with some scheme . The schemes will guarantee returns, use multi level marketing, or be something crazy that is now “backed by the US Government”. Please ignore them. Always remember this. If a deal is a great deal, they aren’t going to share it with you.

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So what should you do to get rich ?

Save your money. Save as much money as you possibly can. Every penny you can. Instead of coffee, drink water. Instead of going to McDonalds, eat Mac and Cheese. Cut up your credit cards. If you use a credit card, you dont want to be rich. The first step to getting rich, requires discipline. If you really want to be rich, you need to find the discipline, can you ?

…..

The first step to getting rich is having cash available. You arent saving for retirement. You are saving for the moment you need cash. Buy and hold is a suckers game for you. This market is a perfect example. Right at the very moment when cash creates unbelievable opportunity, those who followed the buy and hold strategy have no cash. they cant or wont sell into markets this low, that kills the entire point of buy and hold. Those who have put their money in CDs sleep well at night and definitely have more money today than they did yesterday. And because they are smart, disciplined shoppers, their personal rate of inflation is within their means. Cash is king for those wanting to get rich

The 2nd rule for getting rich is getting smart. Investing your time in yourself and becoming knowledgeable about the business of something you really love to do

It doesn’t matter what it is. Whatever your hobbies, interests, passions are. Find the one you love the best and GET A JOB in the business that supports it.

It could be as a clerk, a salesperson, whatever you can find. You have to start learning the business somewhere. Instead of paying to go to school somewhere, you are getting paid to learn. It may not be the perfect job, but there is no perfect path to getting rich.

Before or after work and on weekends, every single day, read everything there is to read about the business. Go to trade shows, read the trade magazines, spend a lot of time talking to the people you do business with about their business and the people they buy from.

This is not a short term project. We aren’t talking days. We aren’t talking months. We are talking years. Lots of years and maybe decades. I didn’t say this was a get rich quick scheme. This is a get rich path

Now you wait for times of uncertainty and change in your business. The time will come. It may come quickly, it may take years and years. But it will come. The nature of our country’s business infrastructure is that it is destined to be boom and bust. Booms are when the smart people sell. Busts are when rich people started on their path to wealth.

You will know when that time is here for you because you will know your business inside and out. You will be ready because you will have been saving up for this moment in time

How to Get Rich « blog maverick.

Congratulations to kababayan Ronald Ventura.

Bloomberg and Reuters have results from the Asian contemporary sales where only 60% of the lots found buyers. Collectors were picky but not stingy. Some of the works that did sell made prices dramatically above high estimates. The Evening sale of Contemporary Asian art brought in HK$117,117,500 ($15 million) with I Nyoman Masriadi selling for HK$4,820,000 ($615,000) and Wang Yidong beating the high estimate. Indonesians Agus Suwage, Affandi and Handiwirman Saputra and Filipino Ronald Ventura also set artist records. Liu Ye came in toward the top of the estimate range.

Hong Kong Correction | Art Market Monitor.