Archives of “Tennessee” tag

rss

23-Lefsetz’s Business Rules

  
  Education
#  #  #  #  #  #

1. You’ve got to get along. If you don’t have good people skills, you’ll never succeed, even if you run your own business.

2. Money talks. He who has cash has leverage, and someone always has more than you do. There’s rarely a deal between equals.

3. Leverage is not always about money. I.e. if you’re an unsigned band that can sell out arenas, you’ll get an incredible deal from the label.

4. If a deal is too good, it probably is. In other words, if the other person can’t make any money, there’s going to be a problem.

5. The best deals are win-wins.

6. If you’re not willing to risk, if you’re not willing to give something up, you’re going to sit on the sidelines. Sure, the label might not offer you your dream deal, but the alternative is to go it alone, which is an option, but probably not the one you want since you entered negotiations in the first place.

7. You don’t know everything, you just think you do. If you’re not learning every day, you’re hanging with the wrong people and not applying yourself.

8. The more powerful the person, the less the chance you’ll see them at the conference. The conference is for never have and wannabes and for the purveyor to make coin. In other words, have a good time at SXSW, but the real winners are the people who put on the conference.

9. A contract does not guarantee behavior. At most it’s a guideline. If you think suing to get what you want is a solution, that the contract entitles you to win, you’re naive. (more…)

25-One Liners for Traders (Read and Understand ) -Anirudh Sethi

  
Analysis, Education
#  #  #  #  #  #  #  #  #  #
  1.  If you need to spend your money in a relatively short period of time it doesn’t belong in the stock market.
  2.  If you want to earn higher returns you’re going to have to take more risk.
  3.  If you want more stability you’re going to have to accept lower returns.
  4.  The stock market goes up and down.
  5.  If you want to hedge against stock market risk the easiest thing to do is hold more cash.
  6.  Risk can change shape or form but it never really goes away.
  7.  No Trader is right all the time.
  8.  No  Trading strategy can outperform at all times.
  9.  Almost any Trader can outperform for a short period of time.
  10.  Size is the enemy of outperformance.
  11.  Brilliance doesn’t always translate into better Trading results.
  12.  “I don’t know” is almost always the correct answer when someone asks you what’s going to happen in the markets.
  13.  Watching your friends get rich makes it difficult to stick with a sound Trading plan.
  14.  Day trading is hard.
  15.  Outperforming the market is hard (but that doesn’t mean it’s impossible).
  16.  There is no signal known to man that can consistently get you out right before the market falls and get you back in right before it rises again.
  17.  Most backtests work better on a spreadsheet than in the real world because of competition, taxes, transaction costs and the fact that you can’t backtest your emotions.
  18.  It’s almost impossible to tell if you’re being disciplined or irrational by holding on when your investment strategy is underperforming.
  19.  Reasonable investment advice doesn’t really change all that much but most of the time people don’t want to hear reasonable investment advice.
  20.  Successful  Trading is more about behavior and temperament than IQ or education.
  21.  Don’t be surprised when we have bear markets or recessions. Everything is cyclical.
  22.  You are not George Soros or Jesse Livermore
  23.  The market doesn’t care how you feel about a stock or what price you paid for it.
  24.  The market doesn’t owe you high returns just because you need them.
  25.  Predicting the future is hard.
Go to top