What looks like a bad idea to some is a winner in the hands of another !
From Barry Ritholtz,
1. Ideas are a dime a dozen, execution is everything.
2. We do not live in a pitch economy, almost no one is buying ideas, they’re buying companies, they’re buying something active that is generating capital.
3. We’re all Missourians today, that’s right, we all live in the SHOW ME state. We want to see evidence of your success, of the implementation of your idea, we don’t just want to hear you talk about it.
4. Ideas are in the air. Many people are working on similar breakthroughs at the same time. While you believe your idea is unique, there’s a good chance someone else is aware of it and is trying to achieve the same goal and is working while you sleep.
5. Talk is cheap. That’s why it’s so hard to get someone of power to converse, never mind go to a meal. A professional can tell in just a few sentences whether you’re real. Furthermore, if you create something real these same professionals will be breathing down your neck.
http://www.ritholtz.com/blog/2014/10/execution/
To only think about execution is to be blind. People who just execute were almost killed in 2008.
Of course is very important to be persistent, to never give up , to put the hours and to give it all. The people with this treats usually are the best.
What looks like a bad idea to some is a winner in the hands of another. I believe in this, that is the reason why with the same product you are a winner in some countries and can't get a start in other markets. That is the reason why many people who don't read a book ever can make a living.
Despite this i think you have to think a bit. Keep your eyes open. We are in a world where governments are intervening and regulating, preventing the market forces to express themselves. In this world you have to think because one day you get caught.
“A turkey is fed for 1,000 days by a butcher, and every day confirms to the turkey and the turkey’s economics department and the turkey’s risk management department and the turkey’s analytical department that the butcher loves turkeys, and every day brings more confidence to the statement. But on day 1,001, there will be a surprise for the turkey…”
From Nassim Taleb
If we are in 2007 and the Housing market is going up for 20th year in a row and suddenly you feel something changes and some Mortgage originators are getting in trouble, etc... you have to think and change. If you keep blindly executing you might end like the Turkey.
This is the reason i have my savings in products that can profit from a falling market. The market has been rising for many years, but who knows if it could change. If it does eventually i don't lose so much as i would in a product that only profit from good things.
This is the reason i have my savings in products that can profit from a falling market. The market has been rising for many years, but who knows if it could change. If it does eventually i don't lose so much as i would in a product that only profit from good things.
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