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Against Quantification

Reading through Linchpin by Seth Godin advocates getting away from the quantified.

We measure the quantified because we can. But we should create the unquantified because it’s so rare. If you can quantify it, then probably someone before you figured out a why to grind it out. And if you can grind it out, someone can grind it out cheaper than you can. On the other hand, the really valuable stuff, the stuff we pay a lot for, is unquantified. Things like creating joy or security or happiness. No easy measurements for those, thus they are art, and art is always worth more than the predicted.

Visualizing The Global Millionaire Population

When we think of the term “millionaire”, it’s only natural for our thoughts to be skewed towards the famous business magnates that have amassed giant fortunes, like Jeff BezosElon Musk, or Warren Buffett.
However, as Visual Capitalist’s Jeff Desjardins notesthe reality is that those types of ultra high net worth individuals (UHNWIs) with fortunes above $30 million are a fairly rare commodity – and when it’s all said and done, they make up a very tiny percentage of the millionaire population as a whole.
The vast majority of millionaires (90.0%) globally have fortunes between $1 million and $5 million, and you’re probably not going to find many of them with a sprawling mansion or a new Rolls Royce in the garage.
 
https://www.zerohedge.com/sites/default/files/inline-images/20180105_mill.jpg
In fact, most millionaires drive a Ford.

LOCAL MILLIONAIRES

Good Luck Bad Luck!

horses-gallopThere is a Chinese story of a farmer who used an old horse to till his fields. One day, the horse escaped into the hills and when the farmer’s neighbors sympathized with the old man over his bad luck, the farmer replied, “Bad luck? Good luck? Who knows?” A week later, the horse returned with a herd of horses from the hills and this time the neighbors congratulated the farmer on his good luck. His reply was, “Good luck? Bad luck? Who knows?”

Then, when the farmer’s son was attempting to tame one of the wild horses, he fell off its back and broke his leg. Everyone thought this very bad luck. Not the farmer, whose only reaction was, “Bad luck? Good luck? Who knows?”

Some weeks later, the army marched into the village and conscripted every able-bodied youth they found there. When they saw the farmer’s son with his broken leg, they let him off. Now was that good luck or bad luck?

Who knows?

If You’re Good At Something Never Do It For Free

Seth Godin writes:

I had a college professor who did engineering consulting. A brand new office tower in Boston had a serious problem–there was a brown stain coming through the drywall, (all of the drywall) no matter how much stain killer they used. In a forty story building, if you have to rip out all the drywall, this is a multi-million dollar disaster. They had exhausted all possibilities and were a day away from tearing out everything and taking a loss. They hired Henry in a last-ditch effort to solve the problem. He looked at the walls and said, “I think I can work out a solution, but it will cost you $45,000 if I succeed.” They instantly signed on, because if he succeeded, the project would be saved. Henry asked for a pencil and paper and wrote the name of a common hardware store chemical and handed it to them. “Here, this will work.” And then he billed them $45,000. That’s quite an hourly wage. It’s also quite a bargain.

Everyday ,Iam receiving mails that why I take fees or Subscription* charges. Godin’s quote came to mind. Will flesh this out further in the days to come, but for now I thought his wisdom was appropriate.

-Fees/Subscription* :90% goes to Charity only.

TEN WAYS TO LOSE MONEY

After many hours of toil and deep thought I have compiled a dependable guide for stock traders: Ten Ways to Lose Money on Wall Street. I shall not attempt to explain or qualify these precepts, realizing that my readers will doubtless follow them regardless of any advice, from any source, to the contrary.

1. Put your trust in boardroom gossip.
2. Believe everything you hear, especially tips.
3. If you don’t know—guess.
4. Follow the public.
5. Be impatient.
6. Greedily hang on for the top eighth.
7. Trade on thin margins.
8. Hold to your own opinion, right or wrong.
9. Never stay out of the market.
10. Accept small profits and large losses.

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