11.30.2009

Book Summary - How To Win Friends And Influence People by Andrew Carniege - (Part 1 of 4)

I am constantly reading. Everyone I know who is worth the time and energy of getting to know is well read. Most of successful self-made individuals I know have paid dues through self-education. The good part is that there is such a diverse range of information easily available. You know the file-sharing programs you currently use for music & or movies? Try searching for some relevant books you have been hoping to get around to, you should have some luck. Of course, I just usually scroll the 'e-book' category as the good sites have set-up search parameters to filter by category.

Problem is, most books I read that are of the informational/educational/aspirational variety are 15x is long as they need to be. See "Rich Dad, Poor Dad". Great book for its target audience, but christ his point could have been hammered home with same effectiveness in twenty pages. Thus, I am going to be summarizing some books that have great insight but can boiled down to key concepts for myself & readers.

I'll be starting off with one of the all-time classic business and self-help books. Many hucksters have ridden its coattails and turned 'self-help books' into an oxymoron. My thought is you probably can use maybe one or two good books with this type of advice in your life. Oh, and fuck "The Secret".


Book Summary - How To Win Friends And Influence People - (Part 1 of 4) 


A. Building Personal Relationships

Never criticize, condemn or complain:

§ People very rarely criticize themselves, no matter how wrong they may be. Your criticism will not be welcome.

§ "I will speak ill of no man, and speak all the good I know of everybody.” – Ben Franklin

§ Criticism puts others on the defensive, hurts self-esteem, and builds resentment. Criticism is futile.

§ Positive Reinforcement works better. Example: Reprimanding soldiers for not wearing their helmets is less effective than asking if the helmets are uncomfortable and reminding them that the hats were designed for their protection.

Become genuinely interested in other people.

§ People are most interested in themselves. If you share that interest, they will respond.

§ If you talk to people about themselves, they will keep listening and listening.

§ Remember birthdays and other important personal details.

Talk in terms of the other person's interests.

§ Find the interests of others and talk about those things.

§ Begin any conversation disscussing the other’s interests and you’ll find them to be much more open to suggestion.

§ If you know nothing of their interests, try to ask intelligent questions about their interests. Perhaps ask for the story of how they developed those interests.

Be a good listener.

§ Give other's your exclusive attention.

§ Urge others to talk about themselves.

§ Ask pointed questions.

§ By simply listening and asking questions, others will think you are a great conversationalist.

§ Listen to others’ concerns/complaints, you will ease tension and build relationships.

§ Be eager to hear from those who may complain about you or your those you represent, however wrong those complaints may be.

§ Impress upon them how eager you are to hear them.

§ Thank them for bringing up their concerns.

Make the other person feel important.

§ People yearn to feel important and appreciated.

§ Continually recognizing someone’s expertise and capabilities will make them feel important. They will want to demonstrate their expertise by possibly helping you.

§ “I am hearty in my approbation and lavish in my praise.” – Charles Schwab.

§ Give others clear authority over a part of a larger project and help them understand their tangible contributions. They’ll become more committed to the success of the project.

§ Be sincere and avoid flattery. However, obvious, over-the-top flattery can often win smiles and carry the same favor as if it were sincere.

Use Names Whenever Possible

§ People love hearing their names, it's a favorite word.

§ Remember someone’s name and a few personal details.

Smile


§ Greet others with enthusiasm and animation.

§ A smile tells others that you like them and are glad to see them.

§ Smile even when on the phone; the smile will be clear in the tone of your voice.


11.24.2009

Brilliant

The Fly does it again. Class in session at his site.

LINK: Drama Queens.

Good to see him on top of his game.

This Gap Will Follow-Through

Safe to buy with December's rent payment:














In my fucking sleep I can tell you it goes to 45. Monthly Chart:














Not a recommendation. You may lose money. Back to 'surfing' the internet.

11.23.2009


So I missed this on Friday due to being insanely checked out (not unusual) but a company I really respect http://www.teslamotors.com/ is being rumored to be taken public. They are the maker of working and functional electric cars, something the Detroit boys have never figured out. They are working on a 30k sedan and I would be huge proponent of them going public with the production of it being the intention for the $. Could be big, with a working affordable electric cars being huge catalyst to ending foreign dependence on oil, saving the environment, yadda yadda yadda. But we should give more tax-payer  money to GM. I agree. Let them catch up. Phhssst.

Official reuters story: http://www.reuters.com/article/rbssTechMediaTelecomNews/idUSWEN683620091120

 Related: http://newwealth.blogspot.com/2009/10/fail.html

Fun Way To Get The Hard Sell For Life



Just enter your phone number, dancing .gifs command you! It will be resold 99x! This is so 2k6. Makes me nostalgic.

Jesus christ I had no clue Monday would be an up day after the last tweleve Mondays that have got bid up. Needless to say this will be slow week, turkey gods and all. I am bullish due to it being my favorite holiday.

Top picks:

























































Turkey day is my fave holidays of all holidays due to it just feeling so American to stuff my face and pass out on the couch. Two activities I excel in. Eating and winning at the game of sleep.

11.20.2009

Arts & Crafts



A-Level Prank.

MVP. Stocks are fun.

Top Picks















I am bullish on the mainstream potential of the Keurig. Good revenue model and I see gloomy eyed caffiene addicts slowly realizing the benefits of having make@home espresso shots to the dome ON DEMAND. Triple shot plz.















I am bullish on coal. Global growth. Energy going up. Lack of a care for environment in large developing economies. Cheapest form of energy? Coal. To get raw materials to the coasts of countries to ship globally what do we use? Railroads. Which run on coal. Careful on this commodity trade as the momentum pendulum swings quick and hard. It 'trends' well. Trade with it. I sold Walter Industries (WLT) at $100 last year to watch it collapse to $10 as the world was imploding. So you may find yourself losing your Home Equity Credit line money you've been gambling with. Just warning.



Hope your weekends filled with many shake weight practice sessions. Take a report.

11.17.2009

DOG FIGHT

via Vanity Fair:
There’s nothing like a good old-fashioned dogfight,” says Fox Business Network’s Magee. That’s true, but so far FBN, along with Bloomberg, has been merely yapping ineffectually at the St. Bernard on the block, CNBC."
Mike Vick will tell ya. Shouldn't this idiom be in bad taste. Or no?
 

DISH


















Sold half my DISH call options (DEC / 21). If you followed my moves on Twitter you would be up 90% on this investment. That is all.

11.16.2009

DOOM


Faber's Commentary - He Is a Doctor Ok

click for detail:





11.11.2009

11.10.2009

GOLD & LINKS

 
PM COMMENTARY: A Must Read From David Einhorn - (he has actually started storing physical gold, apparently outside of office somewhere in NY, awesome)



















left: Scrooge McDuck (visionary gold perma-bull)




11.06.2009

Formal Education Will Train You For Jobs of "Tomorrow"

Many of our peers are the modern day equivalent of horse-buggy sales reps biding their time as the new-fangled assembly line began pumping out car after car.Can't speak for all but I'm checked out for the weekend.



Ah, intellectual leverage & the social web.

The top 10 jobs in demand for 2010 did not even exist six years ago. Education can't keep with it. Meaning someone entering high school (even college) now need to be able to perform jobs that don't yet exist using technologies that have yet to be invented.

Know University of Phoenix right? Them the 'online' college. And will I am certain steamroll you or if no initial contact, try to trick you into getting on the line for the hard sell. (must read internal training memo) Oh other fun fact, our tax-dollars are bank rolling over 75% of loans. (link)


Read: Money Comes Rolling In

11.04.2009

Professional Trader Profile - Gary Wagner - Candlesticks

Japanese candlesticks offer a "mathematical expression of psychological market sentiment" to trader Gary Wagner, who
utilizes these Eastern technical indicators in conjunction with Western tools to actively trade for himself. It took Wagner several years into the commodity business before he began utilizing Japanese candlesticks in his interpretation of the markets. After college, he entered the industry as a broker and around "1989-1990, FutureSource began displaying price
movements over time with candlesticks. It looked interesting, but I didn't know much about what they meant. I started doing a lot of research," Wagner said.

Wagner stumbled upon a book entitled The Japanese Chart of Charts, by Seiki Shimizu, which he calls the "Rosetta Stone of
every candlestick technician in the U.S ... I read it and it was like these light bulbs started going off in my head," Wagner
explained. "After it clicked in, my trading vastly improved. I started making money and my clients started making money," Wagner said. Japanese candlesticks are constructed differently from a traditional Western bar chart. A traditional daily bar chart reveals a vertical bar, representing each day's action. The bar chart reveals the session's high, low and closing price; the latter is seen by a tic to the right of the bar.

However, Japanese candlestick charts are comprised of a rectangular section and two thin lines above or below the section.
According to Trading Applications of Japanese Candlesticks, by Gary Wagner and Brad Matheny, “The candle or pole line is defined as one complete cycle with an open, low, high and close. The thick part of the candle is known as the real body. The thin lines above and below the real body are the shadows and represent the high and low for that cycle ... A white candle (empty) is created when the closing price is just above the opening price for the cycle. Black candles (full) are just the opposite-die opening price must be above the dosing price for the cycle.” However, Wagner utilizes Japanese candlestick charts in conjunction with traditional Western technical analysis.

"Utilizing candlesticks is a win-win situation for the Western technician. We use moving averages, stochastics, trendlines.
But, one can usually obtain more information looking at a candlestick chart. The reason for that is that the Western technician puts his emphasis on the close to the close," Wagner noted. But candlesticks reveal "the relationship between the open and the close of that day. Dynamically, there is a battle going on each day-the candle reveals its outcome," he explained.

"The best traders I've witnessed ... are successful because they maximize upside potential when they are right and they get out quickly if they are wrong," Wagner revealed.Wagner admits that "fundamentals rule the market, but you can distill that in a mathematical way," he says referring to candlesticks. "By removing myself from information overload of the fundamentals, I was able to glean a much more pristine view," he explained.

While Wagner started out as a day-trader, that changed about three to four years ago and now he has become a position trader. Wagner credits the change in his trading style to an actual change in the nature of the markets themselves, which coincided with the emergence of large fund players and large institutional players in the futures arena.

"When the large institutional traders came in, they had such a voracious way of moving the markets because of the mass of
orders," Wagner explained. "I found it difficult from a computer to win because the risk reward changed. My stops didn't hold.”

Now, Wagner believes the "most profitable way to trade is with the trend.” Advice for the beginning futures trader: "Invest in education,” Wagner suggests. He says the new trader is "jumping into a shark-infested pool. In order to survive ... you need good protection ... and very large teeth. Staying power or stamina," is important in order to succeed.

11.02.2009