Daily Life Accounting

from Del Harris ht to Eric Musselman:

It’s hard to find a job in this life that is always interesting and exciting over a 50-year period. In the end, the value of anyone’s job probably is determined by relationships that are formed more than the wins and the money. Because as we have found out, the money can come and go.”
Eric Musselman’s Basketball Notebook: The value of any job is determined by the relationships.

I try to live by with that in mind. a little life accounting.
05 hours: Sleep (between 4 and 8 depending on need)
03 hours: Daily Commute includes around an hour of walking
09 hours: Required working hours.
11 hours: Actual average hours in the office.
02 hours: Hygeine and Cooking dinner
03 hours: reading/podcast for pleasure/improvement
for any other normal 9-5 and if you sleep a healthy 8 hours a day your job/work/profession/calling is half to more than half your usable daily hours. If you do not wake up in the morning wanting to start working, If you dread mondays and just heart weekends around 100x the normal workday, I suggest you quit, just quit now and try to find that something you were meant to do, at least for now!

Guerrilla Billionaire™ : Billionaire Lessons from Malcolm Gladwell

Excellent Advice from Malcolm Gladwell

Here are his 5 Steps to Success:
1. Find meaning and inspiration in your work.
2. Work hard.
3. Discover the relationship between effort and reward.
4. Seek out complex work to avoid boredom and repetition.
5. Be autonomous and control your own destiny as much as possible.
Guerrilla Billionaire™ : Billionaire Lessons from Malcolm Gladwell.

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Investment Advice From Warren Buffet!

A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. To be sure, investors are right to be wary of highly leveraged entities or businesses in weak competitive positions. But fears regarding the long-term prosperity of the nation’s many sound companies make no sense. These businesses will indeed suffer earnings hiccups, as they always have. But most major companies will be setting new profit records 5, 10 and 20 years from now.
Op-Ed Contributor – Buy American. I Am. – NYTimes.com.

-the Agile Solution to Future Depressions

from Prof Dani Rodrik.

So what will the post-mortem on Wall Street show? That it was a case of suicide? Murder? Accidental death? Or was it a rare instance of generalized organ failure? We will likely never know.
The regulations and precautions that lawmakers will enact to prevent its recurrence will therefore necessarily remain blunt and of uncertain effectiveness.
That is why you can be sure that we will have another major financial crisis sometime in the future, once this one has disappeared into the recesses of our memory. You can bet your life savings on it. In fact, you probably will.
Who Killed Wall Street?.

A never ending cycle of trouble-solution-trouble again.
In the end few people can forsee the big problems of tomorrow, thus we are forever preparing for the last war, but there are things that prove to be scarier. The speed at which information travels has exceeded our capability to make sense of it. This is true for financial innovation, and almost all other forms of innovation fueling our modern world! What we have is I think similar to what programmers have to face.
Agile programming was born as a result of frustrations with alot of the management styles that programmers are forced to adhere to. It designs the process ofsoftware development to be more responsive to changes. The processes are designed to help produce code that is easily or more readily tested and responsive to the ever changing user requirements. This is mostly done because of a structure where trust in the abilities of your co-workers and supervisors/team leads are present in abundance.
The thing is because of the fema fication of government we just don’t have that level of trust in the abilities of the people who run the government (Ben Bernanke exempted).
Going back to my main point, The technology is there, hearing Larry Lessig talk (reading on the web but hearing talk is more dramatic) of a more responsive techology enabled democracy, I cannot help but think of how much we need to restructure government to be adaptive, to be more agile.
This is because we will almost always be prepared for the last war, massive leverege, predatory lending, etc those things will be solved eventually, albeit slowly, but if we have structures/processes/agencies that are geared towards minimizing the hurt and maximizing the returns from the new challenges that face us then maybe just maybe we could live as if nothing changes because we have changed ourselves and our government to function in a way where only change is constant.

-Excellent Financial Advice From Mark Cuban-Where To Put Your Money Right Now « blog maverick

I’ve personally resisted credit cards because my family has had a history of thinking of credit cards as cash. I almost got one last week but got cold feet when I realized that the only reason I’ve been able to save around 20 percent of my pay is that I can’t buy stuff online. I really like buying things but credit cards go against one of my principles of truly living in the moment (post about this in the future).
(emphasis mine)
So in a nutshell, while the interest rate on your credit cards is going up, the return on your investments has been going down. You know what they call someone who keeps on giving money to their stockbroker, mutual fund or 401k, but doesn’t pay off their credit card balance in full every month, BROKE AND STUPID !
Where To Put Your Money Right Now « blog maverick.

Thoughts on the Financial Crisis – O'Reilly Radar

Great advise from Tim O’Reilly

We don’t know yet how problems in the overall economy will affect our business. But what we can do now are the things we ought to be doing anyway:
* Work on stuff that matters: Assuming that the world does go to hell in a handbasket, what would we still want to be working on? What will people need to know? (Chances are good that they need to know these things in a world where we all continue to muddle along as well.)
* Exert visionary leadership in our markets. In tough times, people look for inspiration and vision. The big ideas we care about will still matter, perhaps even more when people are looking for a way forward. (Remember how Web 2.0 gave hope and a story line to an industry struggling its way out of the dotcom bust.)
* Be prudent in what we spend money on. Get rid of the “nice to do” things, and focus on the “must do” things to accelerate them.
These are all things we should be doing every day anyway. Sometimes, though, a crisis can provide an unexpected gift, a reminder that nobody promised us tomorrow, so we need to make what we do today count.
Thoughts on the Financial Crisis – O’Reilly Radar.

Time For Change!

I am going to do this! Only with Extraordinary Effort
With that forewarning, here’s a bootstrapper’s/marketer’s/entrepreneur’s/fast-rising executive’s effort diet. Go through the list and decide whether or not it’s worth it. Or make up your own diet. Effort is a choice, at least make it on purpose:
1. Delete 120 minutes a day of ‘spare time’ from your life. This can include TV, reading the newspaper, commuting, wasting time in social networks and meetings. Up to you.
2. Spend the 120 minutes doing this instead:
* Exercise for thirty minutes.
* Read relevant non-fiction (trade magazines, journals, business books, blogs, etc.)
* Send three thank you notes.
* Learn new digital techniques (spreadsheet macros, Firefox shortcuts, productivity tools, graphic design, html coding)
* Volunteer.
* Blog for five minutes about something you learned.
* Give a speech once a month about something you don’t currently know a lot about.
3. Spend at least one weekend day doing absolutely nothing but being with people you love.
4. Only spend money, for one year, on things you absolutely need to get by. Save the rest, relentlessly.
If you somehow pulled this off, then six months from now, you would be the fittest, best rested, most intelligent, best funded and motivated person in your office or your field. You would know how to do things other people don’t, you’d have a wider network and you’d be more focused.
It’s entirely possible that this won’t be sufficient, and you will continue to need better luck. But it’s a lot more likely you’ll get lucky, I bet.
Seth’s Blog: Is effort a myth?.

Eric Musselman's Basketball Notebook: There are times when we have to stand alone

Some people need permission to act! But that is something no one can give you, no one but yourself!
Give yourself permission to dream.
Give yourself permission to act.
Give yourself permission to fail.
Give yourself permission to dream again.
Queen Latifa from NYTimes here ht to eric musselman’s blog:

“I know people who are twice as creative as I am, twice as smart, but they didn’t do anything because they feared going into a room and opening their mouths. My parents told me to truly accomplish things in my life, there would be times I would have to stand alone. It may be scary, but that’s what it requires. So the times I had to stand alone, I got it. I understood where I was coming from, so hopefully, everybody else would get it eventually.”
Posted by Eric Musselman at 8:13 AM
Eric Musselman’s Basketball Notebook: There are times when we have to stand alone.

How to Get Rich « blog maverick

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.
…..
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.