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The Innovation Secrets of Steve Jobs

  
Analysis, Education, Life, LINKS
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No one can deny that Steve Jobs is very successful and runs a very successful company. As head of Apple (AAPL), he has provided numerous direct and indirect jobs (have you seen how many iPhone apps there are now?) and dozens of very, very popular and useful products.

The book The Innovation Secrets of Steve Jobs: Insanely Different Principles for Breakthrough Success by Carmine Gallo, presents a very clear road map to follow in Jobs’ footsteps, showing how to be truly successful in your occupation. Look at a few of the principles covered in the book:

Put a Dent in the Universe
Kick-Start Your Brain
Sell Dreams, Not Products
Say No to 1,000 Things

This book is especially useful to the self-employed, showing how to be more creative, have more effective work strategies, and become more successful.

The author had previously written the best-selling book The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience. He writes in a clear and concise manner with plenty of supporting anecdotes.

If you are looking for a good read that can help you achieve the success you want and deserve, get The Innovation Secrets of Steve Jobs. You won’t be disappointed.

7 concepts that can make you a better trader

  
  Education
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New traders spend lot of time on indicators, scans, or chart pattern. Lot of that effort is wasted. Instead they should focus on core concepts.

 
If you understand core concepts you will find understanding the market and techniques used by traders easier. All the indicators and techniques are based on some underlying core concept. Many times the people who promote some of these indicators do not understand the core concept or purposefully package their indicators as something that is anti thesis of a core concept.
 

If you are serious about your trading there are some concepts you must know in significant details. Those concepts will help you build a strong foundation on which you can build a trading system. There are seven  concepts you should study:
  • Momentum : If you understand this you will understand trends and mean reversion. You will understand why and how momentum works in the market. Most indicators are momentum based. Trend following and buying strength also works, so does mean reversion. They are all part of the momentum phenomenon. 
  • Market Breadth: Stock markets are composite markets. The overall move in market is an aggregate of moves of several hundred or several thousand stocks. So the level of participation in a move is important. 
  • Equity Selection: Because the overall market is a composite of many individual moves, it becomes critical to select right kind of stocks from the universe of stocks. Hence equity selection is extremely critical. You should know various ways in which one can select equities.
  • Market Anomalies: Market anomalies are the distortions in the market. If you base your trading on a proven and statistically significant anomaly, you will be profitable. Absent that no amount of indicators will help you. A through understanding of anomalies will give you an edge.
  • Market Microstructure: Market Microstructure is a branch of finance concerned with the details of how exchange occurs in markets.  Understanding this will tell you how the market operates. The concept of market microstructre is very critical if you are trading very small time frames or are a day trader. Because to be successful on those time frame you need to find exploitable anomalies in market microstructure. You need to understand role played by market makers, automated programs, arbitragers, large fund buyers and so on. Their tactics and behaviour creates certain patterns 
  • Growth investing : Growth investors buy stocks of companies growing faster than the average company in the market. 
  • Value investing : Value investors buy stocks of companies which are cheap or out of favor.
These are the core concepts around which all trading strategies revolve.

What Warren Buffett said…

  
  Education
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W.B* For some reason, people take their cues from price action rather than from values. What doesn’t work is when you start doing things that you don’t understand or because they worked last week for somebody else. The dumbest reason in the world to buy a stock is because it’s going up.
* Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
* The important thing is to keep playing, to play against weak opponents and to play for big stakes.
* Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.
* There are all kinds of businesses that Charlie and I don’t understand, but that doesn’t cause us to stay up at night. It just means we go on to the next one, and that’s what the individual investor should do. (more…)

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