He is not Happy
Here is a pic taken with my i-phone in South Africa in Lion Sands. I love the safari there is no regulator/compliance there. You have to be smart or die. No one will bailout you.
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Equal opportunities is a must , equal results is communism.
Big Get Bigger
S&P and DAX just made all time highs in the last 2 days. These are the only 2 Country indexs that are at the all time highs. Germany & USA are the biggest winers from the Globalization game. Big get Bigger is the name of the game. And the biggest companies in each sector many times ate in Germany & USA.
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The cost of doing one digital copy of a book is the same of doing 1 million copies!
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A Good day of Work in NY
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Clean people are taller!
Well if you want your kid to be taller than you, to beat the genes that he inherited he must avoid infection & diseases until he reach the end of puberty.From the Atlantic
"If Joe is taller than Jack, it’s probably because his parents are taller. But if the average Norwegian is taller than the average Nigerian it’s because Norwegians live healthier lives." ........
We eat food to keep our inner engines running. Our bodies then use those calories to lengthen our bones and multiply our cells until we reach the end of puberty. But when we’re ravaged by infections or deprived of nutrients, growth takes a back seat to keeping the heart and organs functioning. If we’re struck by too many diseases and deficiencies, we stop short (literally) of the height we might have achieved.
http://www.theatlantic.com/health/archive/2014/05/how-we-get-tall/361881/
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Reputation + No surprises = Big Profits
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Everybody is better off
Just came from 1 week of meetings in NY with Hedge Fundssome impressions
America is Cheaper than Europe
Americans work much more than we do
Take less holidays
Roads are a mess with many potholes
Traffic is a mess
Garbage is at the open in the streets to be picked up later
In many meetings people order sandwich & salads. The size of the servings is huge. Enough for 15 people in Europe.
Everything is old but works fine
I came across this yesterday from WSJ, By NEIL GILBERT
When households are then divided into five equal income groups, the data reveal that average disposable household income has increased across all groups since 1979. The average household income grew by 40% for the middle quintile and increased by 49% for the bottom quintile...............
But consider everyone else on the planet: The American middle class boasts the fourth-highest disposable household income in the world. The U.S. finishes behind only Luxembourg (a country of 500,000 people), oil-rich Norway, and Switzerland, which stayed out of both World Wars and imposes the strictest immigration laws on the continent. The average U.S. family has 38% more disposable income than a family in Italy, 25% more than a family in France and 20% more than a household in Germany, when adjusted for purchasing power, according to the Organization for Economic Cooperation and Development. Inequality in the U.S. is not a struggle between the "haves" and the "have-nots," but a social friction between those who have a lot and others who have more.
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Without costs you can't go broke!
Rule nº10 is so true, without costs you can't go broke. I believe many businesses don't have time to succeed. They have so many fixed costs that they have to succeed fast. If you have almost no costs you can have time and with time the probability of success goes up big time.Check out Jorge Paulo Lemann’s 20 Commandments To Succeed In Business:
1. Good people working as a team and with common goals is the most important and differentiator asset of a business.
2. Finding, training and keeping good people around are a constant and permanent struggle for all shareholders.
3. People’s earnings should be stimulating, fair and balanced with the general interests of the company.
4. The assessment of people is an essential and constructive item for the business.
5. The main function of the heads of a business is to choose people better than them to keep the company going even without its leaders.
6. Leadership is exercised by clear ideas and by the daily example in the smallest details.
7. To debate is important, but everything to be considered requires someone responsible for it, and at the end someone must make a decision.
8. Common sense is worth a lot and more than complex ideas. Simple is always better than complex.
9. A good business is always looking to improve. Whatever degree of success, there is always room for improvement. This ensures a lasting competitive advantage.
10. Always reduce costs. That’s something that is under your control and ensures survival.
11. Innovations that create value are useful. But copying what works well is way more practical.
12. The improvement and continuing education of people must be an ongoing effort incorporated into businesses’ routines.
13. Only appear in the news with concrete goals.
14. Focus, focus, focus. Focus on the essential.
15. Communication and transparency with key data circulating help educate, pulling in the same direction and create a competitive advantage,
16. Appreciate the rearguard.
17. Always being ethical is essential.
18. It takes a lot to build a reputation that can fade away quickly.
19. In order to get to the pot of gold at the end of the rainbow you have to go all the way through the rainbow, but do it at a profit along the way.
20. A big, challenging and common dream is essential, and it helps everyone to work in the same direction.
http://www.forbes.com/sites/andersonantunes/2013/09/11/20-commandments-to-succeed-in-business-by-the-conqueror-of-american-iconic-brands/
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Is It Still Worth Going to College?
YES
Earning a four-year college degree remains a worthwhile investment for the average student. Data from U.S. workers show that the benefits of college in terms of higher earnings far outweigh the costs of a degree, measured as tuition plus wages lost while attending school. The average college graduate paying annual tuition of about $20,000 can recoup the costs of schooling by age 40. After that, the difference between earnings continues such that the average college graduate earns over $800,000 more than the average high school graduate by retirement age.
From Is It Still Worth Going to College?
Earning a four-year college degree remains a worthwhile investment for the average student. Data from U.S. workers show that the benefits of college in terms of higher earnings far outweigh the costs of a degree, measured as tuition plus wages lost while attending school. The average college graduate paying annual tuition of about $20,000 can recoup the costs of schooling by age 40. After that, the difference between earnings continues such that the average college graduate earns over $800,000 more than the average high school graduate by retirement age.
From Is It Still Worth Going to College?
Mary C. Daly and Leila Bengali
I guess it's better to study than not to study! the statistics are out and from a reliable source, the San Francisco FED. I know that companies use college grades to pick & choose candidates.
The point for me is the following: If colleges make tests, GMAT and other, interviewees etc... to choose students before admission it might be possible that the best people are the ones that enter the best colleges. They were already the best before they entered. So companies think that the people with a diploma are the best not because of what they learned in College but because of passing the admission exams. They were tested.
As long as companies use college degrees to pick, the best will attend college and it pays to attend.
More on the same subject:
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3 old posts
1.http://thoughtmeme.blogspot.pt/2013/12/small-wins.htmlThe idea behind this book (i am not finished yet) is that if you change something in your life, one habit one process one routine it can have some powerful side effects.
2.http://thoughtmeme.blogspot.pt/2013/10/something-unique.html
Well the best way to make money is to have no competition. When you have competition you can't make serious money. How to have barriers to entry or something Unique?
3.http://thoughtmeme.blogspot.pt/2013/06/what-is-formal-education-for.html
It is a miracle that curiosity survives formal education.
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3 Ideas from China
3 Ideas from Yuan Yafei, Chairman of Sunpower in an FT interview1.Only Strange people can succeed
2.If you can live past 100 years...you are doing something right
3.I usually drink Lafite. Since I know nothing about wine, I just drink the most expensive stuff
About the third observation from Mr.Yafei i just think perception is reality so when most people see the most expensive wine when they drink it they experience the best. When someone tells you are going to taste the best wine in the world if feels much better than when someone tells you it's just a regular one. The power of suggestion is big.
About Perception
http://thoughtmeme.blogspot.pt/2014/04/perception-is-reality.html
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Small is not beautifull
Excellence and size are fundamentally incompatible.— Robert Townsend
I am not sure this is still a fact. In the Globalization era a big company like Apple or Amazon can develop & offer things that the small player can not keep up with. The cost of the marginal product to Amazon is zero. The cost of 1 million or 2 million downloads is the same for a software company. In the new world the economies of scale are huge.
If there is a human component, some personalized service i guess Size & excellence are incompatible but except this Bigger can do better & cheaper.
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How to beat the easy way
A capitalization-weighted index explicitly links the weight of a holding to its price, so the more expensive a stock gets, the bigger its weight in your portfolio, says Research Affiliates' Rob Arnott.I have read some years ago a good and easy way to beat the stock indexes.
Here is the logic that i copy from Rob Arnott. In a hypothetical world there are only 2 stocks and both have a real value of 1.
Stock A is overvalued (expensive) and it's trading at 3. Stock B is cheap and is trading at 0,5. In our world stock A has a index weight of 86% (3/3,5) and stock B has a weight of 0,5/3,5=14%.
If stock A and stock B slowly drift back to their value of 1 our index has a lousy performance because stock A has a big weighting.
This is the reason why S&P equal weight beats S&P in the last 14 years
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Francisco Carneiro
Lisbon Family Office
There is always a Bull market in the World
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