Archives of “bargain” tag

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Have Lunch with Warren Buffett for $25,000

  
Analysis, Economy, Education, Life
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An eBay auction is currently running this week, which is offering the winning bidder lunch with famed billionaire and investor Warren Buffett, one of the top three wealthiest people in the world.

All proceeds of the auction will be donated to the Glide Foundation in San Francisco, which provides help for the homeless and poor.

The current bid on the auction is $25,000, and if no one else bids, it wall be a bargain, as last year, the Canadian firm Salida Capital Corp. paid $1,680,300 for the lunch, and two yours ago, Zhao Danyang paid $2,110,100. The auction ends Jun 11, 2010 at 7:30 pm PDT or 10:30 Eastern time.

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

  
  Education
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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.

Few suggestions

  
  Education
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suggestion1) Forget about performance and results numbers (i.e. P/L, Wins vs. Losses). These numbers only blur the plan and increase the anxiety on not losing on next trade. This aggravates the proper mindset to prepare to trade properly. Perfectionists will not execute well and will try to focus on buying low (bargain hunting to win) when the entry is not right.
2) Create the trading plan and write it into details to avoid ambiguity. This helps prevent loosely interpreted actions and end with too much leeway and perfect execution won’t be successful.
3) Focus on the charts and work toward identifying and preparing the entry and exits. Having these numbers in mind will keep the focus on the executing at the right prices.
4) Focus on the Risk:Reward ratio in mind. Having this ratio will keep the execution precise because any miscue will change the ratio in negative way. If the ratio is set, chances of the making the perfect entry and exits are higher. (more…)

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