Carl Icahn on what's really going on at board meetings.
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The world is full of talented broke people
The world is full of talented broke people.
What separates the rich from the poor is discipline.Yo tuve la suerte de estar bien preprado para alguien como Botvinnik gracias a mi madre Klara. Mi madre herdó un estricto sentido de la importancia del orden y la rutina de su propria familia. Para mí, las cosas sencillamente funcionaban así, y simpre me sentí cómodo con este regimen. Dormir, comer, ir a la escuela, estudiar y divertirse, todo formaba parte de un horario.
Gary Kasparov
Gary Kasparov
Motivation is what gets you started. Habit is what keeps you going.
Discipline is remembering what you want.
There is only one sort of discipline, perfect discipline.
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Today is my 56 birthday
Having lunch alone in the office.
Everything is going well, I try to enjoy the little things . Anything can happen, yes anything, I try not to do many plans.
"If you can’t be happy with a coffee, you won’t be happy with a yacht."
“How ridiculous and how strange to be surprised at anything which happens in life”
― Meditations
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It’s better to hang out with people better than you
"It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction."
— Warren Buffett
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What went wrong with FORD
There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.
Original Ford Mission
In 1907, Henry Ford announced his goal for the Ford Motor Company: to create "a motor car for the great multitude." At that time, automobiles were expensive, custom-made machines.
To help build a better world, where every person is free to move and pursue their dreams.
Well Henry Ford had a mentality of service of doing more with less, of building cheap and robust products that would last forever.
In August 6 2022 , wall Street Journal had the following cover
At Ford, Quality Is Now Problem 1
Ford used to tout the reliability of its vehicles in ads. After a string of recalls, the auto maker is trying to change how it finds problems.
A company has to have one image, like Toyota has of reliability, not cheap but very good lasting products. In Africa we almost only see TOYOTAS. FORD used to have an image of cheap reliable and a good price. That is gone. what should FORD do now.
Not this:
On July 11, The Detroit Free Press reported that Ford deliberately ignored warnings from engineers that the transmission on its low-cost Focus and Fiesta models was defective. Then, the company told dealers to tell customers that everything was fine, even though it knew that wasn't the case.
what went wrong?
After many decades the company launched a new strategic plan in 2000 to focus on the 21st century. The strategy was aimed at increasing market share and production of smart cars with fuel efficiency.
Well to have a strategic plan to increase market market share is something Henry Ford would never do. They should solve small problems make a better product . But that was not the strategy. The results are below. They lost their position to TOYOTA. Reliable is not FORD anymore
Wealth, like happiness, is never attained when sought after directly. It comes as a by-product of providing a useful service.
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Put technology to work for you
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Money has never made man happy
“Happiness will never come to those who fail to appreciate what they already have.” -Buddha
"People who live far below their means enjoy a freedom that people busy upgrading their lifestyles can’t fathom."
Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants.
Money is a strange business. People who haven't got it aim it strongly. People who have are full of troubles.
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I invested in almost 200 different Hedge Funds
I invested in almost 200 different Hedge Funds in my life
If I look back is there a rule that would make a difference in the outcomes?
yes
Buy only the biggest Hedge Funds
I would miss some big winners that were small when I bought them , Thames River NEVSKY, COATUE, etc... but I would also missed a lot of disappointment. The huge hedge Funds did more than OK. There was a disaster in Madoff but we exit Madoff in 2005 all the other huge Hedge funds did ok for us.
These days the big Hedge Funds don't accept new money , some give back their profits every year and most of them are not a one man show. sometimes less risk is better.
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It was never my thinking that made the big money
It doesn’t matter if you’re 19 or 59. If you haven’t started investing, start today.
Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas – Paul Samuelson
Time in the markets beats timing the Market - Ken Fisher
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How do do well in life
Do well whatever you do, be 10% better than the other people it's enough. You don't have to do very difficult things , if you do well your bed you are top 1%. 90% don't do their bed and the other 9% just pretend. Do things well, it's enough
7 Keys to a Productive Life
1. Wake up early
2. Limit interruptions
3. Make a little progress daily
4. Say no (a lot)
5. Learn from your mistakes
6. Get up when you fall/fail
7. Don't waste time on envy
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Real happiness only comes as a side-effect of peace
The root of suffering is attachment.
Buddha
@naval
So, understand your situation from a greater perspective. Don't think that what s happening to you is unfair or unjustified; what is happening to you at all the times is just what should be happening.
Ajahn Sumano Bhikkhu
Everything that happens happens as it should, and if you observe carefully, you will find this to be so.
Marcus Aurelius
So, understand your situation from a greater perspective. Don't think that what s happening to you is unfair or unjustified; what is happening to you at all the times is just what should be happening.
Ajahn Sumano Bhikkhu
Everything that happens happens as it should, and if you observe carefully, you will find this to be so.
Marcus Aurelius
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Whatever the mind of man can conceive and believe
Whatever the mind of man can conceive and believe, it can achieve.
Napoleon Hill.
Smart People go to College, but college doesn’t make people smart.
A Gary Shilling
This is completely true but since employers believe that---->
if you have a College degree from a good Institution this guy is smart
you should do all you can to get a stamp from a good school !
However if you are not very smart and since College does not turn you into a very smart person (as Gary Shilling rightly points out) you will get a job because you have the stamp but once you are inside a company you are going to have problems. It's going to be clear that you are what you are.
what should you do if you are not one of the smart people in the world. If you work hard and diligently you will surpass many smart people than you! I know this is true.
To want to win is 90% of the success.
this is the best phrase ever
It's not how good you are, it's how good you want to be
Paul Arden
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Francisco Carneiro
Lisbon Family Office
There is always a Bull market in the World
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