“
[I] threw open the door to find Rob sitting on the low stool in front of my bookcase, surrounded by cardboard boxes. He was sealing the last one up with tape and string. There were eight boxes - eight boxes of my books bound up and ready for the basement!
"He looked up and said, 'Hello, darling. Don't mind the mess, the caretaker said he'd help me carry these down to the basement.' He nodded towards my bookshelves and said, 'Don't they look wonderful?'
"Well, there were no words! I was too appalled to speak. Sidney, every single shelf - where my books had stood - was filled with athletic trophies: silver cups, gold cups, blue rosettes, red ribbons. There were awards for every game that could possibly be played with a wooden object: cricket bats, squash racquets, tennis racquets, oars, golf clubs, ping-pong bats, bows and arrows, snooker cues, lacrosse sticks, hockey sticks and polo mallets. There were statues for everything a man could jump over, either by himself or on a horse. Next came the framed certificates - for shooting the most birds on such and such a date, for First Place in running races, for Last Man Standing in some filthy tug of war against Scotland.
"All I could do was scream, 'How dare you! What have you DONE?! Put my books back!'
"Well, that's how it started. Eventually, I said something to the effect that I could never marry a man whose idea of bliss was to strike out at little balls and little birds. Rob countered with remarks about damned bluestockings and shrews. And it all degenerated from there - the only thought we probably had in common was, What the hell have we talked about for the last four months? What, indeed? He huffed and puffed and snorted and left. And I unpacked my books.
”
”
Annie Barrows (The Guernsey Literary and Potato Peel Pie Society)
“
Instead of rushing to the stock market like their dot-com predecessors had in the late 1990s, the unicorns were able to raise staggering amounts of money privately and thus avoid the close scrutiny that came with going public.
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John Carreyrou (Bad Blood: Secrets and Lies in a Silicon Valley Startup)
“
During the dot-com bubble, most people did not use a persuasive theory to gauge whether stock prices were too high, too low, or just right. Instead, as they watched stock prices go up, they invented explanations to rationalize what was happening. They talked about Moore’s Law, smart kids, and Alan Greenspan. Data without theory.
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Gary Smith (Standard Deviations: Flawed Assumptions, Tortured Data, and Other Ways to Lie with Statistics)
“
screening option was created specifically for this book, magicformulainvesting.com. The magicformula investing.com site is designed to emulate the returns achieved in our study as closely as possible. This site is currently available for free. Step-by-step instructions for selecting stocks using magicformulainvesting.com follow. Other options include, but are not limited to, the screening packages available at aaii.com, powerinvestor.com, and smart money.com.
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Joel Greenblatt (The Little Book That Still Beats the Market)
“
Humanism in Five Images 29. Humanist Politics: the voter knows best. 29.© Sadik Gulec/Shutterstock.com. 30. Humanist Economics: the customer is always right. 30.© CAMERIQUE/ClassicStock/Corbis. 31. Humanist Aesthetics: Beauty is in the eye of the beholder. (Marcel Duchamp’s Fountain in a special exhibition of modern art at the National Gallery of Scotland.) 31.© Jeff J Mitchell/Getty Images. 32. Humanist Ethics: if it feels good – do it! 32.© Molly Landreth/Getty Images. 33. Humanist Education: think for yourself! 33.The Thinker, 1880–81 (bronze), Rodin, Auguste, Burrell Collection, Glasgow © Culture and Sport Glasgow (Museums)/Bridgeman Images.
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Yuval Noah Harari (Homo Deus: A Brief History of Tomorrow)
“
Humanism in Five Images 29. Humanist Politics: the voter knows best. 29. © Sadik Gulec/ Shutterstock.com. 30. Humanist Economics: the customer is always right. 30. © CAMERIQUE/ ClassicStock/ Corbis. 31. Humanist Aesthetics: Beauty is in the eye of the beholder. (Marcel Duchamp’s Fountain in a special exhibition of modern art at the National Gallery of Scotland.) 31. © Jeff J Mitchell/ Getty Images. 32. Humanist Ethics: if it feels good–do it! 32. © Molly Landreth/ Getty Images. 33. Humanist Education: think for yourself! 33. The Thinker, 1880–81 (bronze), Rodin, Auguste, Burrell Collection, Glasgow © Culture and Sport Glasgow (Museums)/ Bridgeman Images.
”
”
Yuval Noah Harari (Homo Deus: A Brief History of Tomorrow)
“
One other thing. And that's all. I promise you. But the thing is, you raved and you bitched when you came home about the stupidity of audiences. The goddam `unskilled laughter' comming from the fifth row. And that's right, that's right - God knows it's depressing. I'm not saying it isn't. But that's none of your business, really. That's none of your business, Franny. An artist's only concern is to shoot for some kind of perfection, and *on his own terms", not anyone else's. You have no right to think about those things. I swear to you. Not in any real sense, anyway. You know what I mean?"
...
The voice at the other end came through again. "I remember abouut the fifth time I ever went on `Wise Child'. I subbbed for Walt a few times when he was in a cast - remember when he was in the case? Anyway. I started bitching one night before broadcast. Seymour'd told me to shine my shoes just as I was going out the door with Waker. I was furious. The studio audience were all morons, the announcer was a moron, the sponsors were morons, and I just damn well wasn't going to shine my shoes for them, I told Seymour. I sais they couldn't see them anyway, where we sat. He said to shine them anyway. He said to shine them for the Fat Lady. I didn't know what the hell he was talking about, but he had a very Seymour look on his face, and so I did it. He never did tell me who the Fat Lady was, but I shined my shoes for the Fat Lady every time I ever went on the air again - all the years you and I were on the program together, if you remember. I don't think I missed more than one just a couple of times. This terribly clear, clear picture of the Fat Lady formed in my time. I had her sitting on this porch all day, swatting flies, with her radio goin full-blast from morning till night. I figured the heat was terrible, and she probably had cancer, and - I don't know. Anyway, seemed goddam clear why Seymour wanted me to shine my shoes when I went on air. It made *sense*."
...
"... Let me tell you something now, buddy ... Are you listening?"
...
"I don't care where an actor acts. It can be in summer stock, in can be over a radio, it can be over television, it can be in a goddam Broadway theatre, complete with the most fashionable, most well-fed, most sunburned-looking audience you can imagine. But I'll tell you a terrible secret - Are you listening to me? *There isn't anyone out there who isn't Seymour's Fat Lady.* That goddam cousins by the dozens. There isn't anyone *any*where that isn't Seymour's Fat Lady. Don't you know that? Don't you know that goddam secret yet? And don't you know - listen to me, now - *don't you know who that Fat Lady really is?*... Ah, buddy. Ah, buddy. It's Christ Himself. Christ Himself, buddy.
”
”
J.D. Salinger (Franny and Zooey)
“
One example of a high-tech company that submits to a Graham type of analysis is Amazon.com. Though it does business exclusively on the Web, Amazon is essentially a retailer, and it may be evaluated in the same way as Wal-Mart, Sears, and so forth. The question, as always, is, does the business provide an adequate margin of safety at a given market price. For much of Amazon’s short life, the stock was wildly overpriced. But when the dot-com bubble burst, its securities collapsed. Buffett himself bought Amazon’s deeply discounted bonds after the crash, when there was much fearful talk that Amazon was headed for bankruptcy. The bonds subsequently rose to par, and Buffett made a killing.
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Benjamin Graham (Security Analysis)
“
challenge efficient market theorists to answer these questions: Why were people willing to pay $14,850 for 135 shares of PALM when they could have paid $7,000, and why were some investors buying PALM stock at a price that set a value of $53 billion for the company instead of acquiring it at a price of less than half as much by buying it via 3Com stock? It’s not a question of information. The terms were simple, public, and known in advance.
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Edward O. Thorp (A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market)
“
Hire the right people. “We will continue to focus on hiring and retaining versatile and talented employees,” he wrote in an early shareholder letter. Compensation, especially early on, was heavily weighted to stock options rather than cash. “We know our success will be largely affected by our ability to attract and retain a motivated employee base, each of whom must think like, and therefore must actually be, an owner.” There are three criteria he instructs managers to consider when they are hiring: Will you admire this person? Will this person raise the average level of effectiveness of the group he or she is entering? Along what dimension might this person be a superstar? It’s never been easy to work at Amazon. When Bezos interviews people, he warns them, “You can work long, hard, or smart, but at Amazon.com you can’t choose two out of three.” Bezos makes no apologies. “We are working to build something important, something that matters to our customers, something that we can all tell our grandchildren about,” he says. “Such things aren’t meant to be easy. We are incredibly fortunate to have this group of dedicated employees whose sacrifices and passion build Amazon.com.” These lessons remind me of the way Steve Jobs operated. Sometimes such a style can be crushing, and to some people it may feel tough or even cruel. But it also can lead to the creation of grand, new innovations and companies that change the way we live. Bezos has done all of this. But he still has many chapters to write in his story. He has always been public spirited, but I suspect in the coming years he will do more with philanthropy. Just as Bill Gates’s parents led him into such endeavors, Jackie and Mike Bezos have been models for Bezos as he focuses on missions such as providing great early-childhood education to all kids. I am also confident that he has at least one more major leap to make. I suspect that he will be—and is, indeed, eager to be—one of the first private citizens to blast himself into space. As he told his high school graduating class back in 1982, “Space, the final frontier, meet me there!
”
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Jeff Bezos (Invent and Wander: The Collected Writings of Jeff Bezos)
“
The excesses of the dot-com boom had begun to wear on investors. Companies without actual business models were raising hundreds of millions of dollars, rushing to go public, and seeing their stock prices roar into the stratosphere despite unsound financial footing.
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Brad Stone (The Everything Store: Jeff Bezos and the Age of Amazon)
“
Creating an algorithmic trading system should be every trader's goal. Yet, developing a trading system can be overwhelming since it involves several moving parts. Another challenge is that today's markets require an algorithm that adapts to different market conditions. In "Algorithmic Trading 101" Jacinta Chan sets you up by starting with the basics and walking you through the process, step-by-step. She touches on all aspects of a trading system. After going through the entire process detailed in the book, the trader will be ready to develop a customized trading system that follows the principles of professional traders."
Jayanthi Gopalakrishnan,
Director, Site Content
StockCharts.com
”
”
Jacinta Chan Phooi m'Ng (Algorithm Trading 101: Trading made simple for everyone (Trading Series: How to trade like a professional))
“
During 1998 and 1999, one group of stocks outperformed the rest of the technology industry by a scorching 63 percentage points—merely by changing their official corporate names to include .com, .net, or Internet.
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Jason Zweig (Your Money and Your Brain)
“
Affordable, reliable and the highest quality, our quads are designed to be pleasing on the eye, affordable and reliable. We are the uk’s leading quad bike retailer, we guarantee you the best price, latest upmarket design and the best knowledge out there possible. All our quad bikes are the most competitive on the market, we are the uk's leading retailer. We include free assembly and free delivery, why go elsewhere? Every quad has been CE approved, as well as built and assembled by our fully trained mechanics to guarantee you the highest quality. We stock the latest and most upmarket models, so as well as being aesthetically pleasing on the eye, they're also the most reliable machines out there.
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”
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Quad Warehouse
“
For an example of how perception of a limited supply can increase sales, look no further than Amazon.com. My recent search for a DVD revealed there were “only 14 left in stock” (figure 18), while a search for a book I’ve had my eye on says only three copies remain. Is the world’s largest online retailer almost sold out of nearly everything I want to buy or are they using the scarcity heuristic to influence my buying behavior?
”
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Nir Eyal (Hooked: How to Build Habit-Forming Products)
“
If your needs are not attainable through safe instruments, the solution is not to increase the rate of return by upping the level of risk. Instead, goals may be revised, savings increased, or income boosted through added years of work. . . .
Somebody has to care about the consequences if uncertainty is to be understood as risk. . . . As we’ve seen, the chances of loss do decline over time, but this hardly means that the odds are zero, or negligible, just because the horizon is long. . . . In fact, even though the odds of loss do fall over long periods, the size of potential losses gets larger, not smaller, over time. . . .
The message to emerge from all this hype has been inescapable: In the long run, the stock market can only go up. Its ascent is inexorable and predictable. Long-term stock returns are seen as near certain while risks appear minimal, and only temporary.
And the messaging has been effective: The familiar market propositions come across as bedrock fact. For the most part, the public views them as scientific truth, although this is hardly the case.
It may surprise you, but all this confidence is rather new. Prevailing attitudes and behavior before the early 1980s were different. Fewer people owned stocks then, and the general popular attitude to buying stocks was wariness, not ebullience or complacency. . . .
Unfortunately, the American public’s embrace of stocks is not at all related to the spread of sound knowledge. It’s useful to consider how the transition actually evolved—because the real story resists a triumphalist interpretation. . . .
Excessive optimism helps explain the popularity of the stocks-for-the-long-run doctrine. The pseudo-factual statement that stocks always succeed in the long run provides an overconfident investor with more grist for the optimistic mill. . . .
Speaking with the editors of Forbes.com in 2002, Kahneman explained: “When you are making a decision whether or not to go for something,” he said, “my guess is that knowing the odds won’t hurt you, if you’re brave. But when you are executing, not to be asking yourself at every moment in time whether you will succeed or not is certainly a good thing. . . . In many cases, what looks like risk-taking is not courage at all, it’s just unrealistic optimism. Courage is willingness to take the risk once you know the odds. Optimistic overconfidence means you are taking the risk because you don’t know the odds. It’s a big difference.”
Optimism can be a great motivator. It helps especially when it comes to implementing plans. Although optimism is healthy, however, it’s not always appropriate. You would not want rose-colored glasses in a financial advisor, for instance. . . .
Over the long haul, the more you are exposed to danger, the more likely it is to catch up with you. The odds don’t exactly add, but they do accumulate. . . .
Yet, overriding this instinctive understanding, the prevailing investment dogma has argued just the reverse. The creed that stocks grow steadily safer over time has managed to trump our common-sense assumption by appealing to a different set of homespun precepts.
Chief among these is a flawed surmise that, with the passage of time, downward fluctuations are balanced out by compensatory upward swings. Many people believe that each step backward will be offset by more than one step forward. The assumption is that you can own all the upside and none of the downside just by sticking around. . . .
If you find yourself rejecting safe investments because they are not profitable enough, you are asking the wrong questions. If you spurn insurance simply because the premiums put a crimp in your returns, you may be destined for disappointment—and possibly loss.
”
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Zvi Bodie
“
Algorithmic profits Algorithmic marketing is allowing companies to do things they couldn’t do before, and some early signs show it can deliver big value, especially in financial or information services. In North America, Amazon.com grew 30 to 40 percent, quarter after quarter, throughout the United States’ 2008-2012 recession, while other major retailers shrank or went out of business. From 2006 to 2010, Amazon spent 5.6 percent of its sales revenue on IT, while rivals Target and Best Buy spent 1.3% and 0.5%, respectively. That investment and focus has yielded increasingly sophisticated recommendation engines that deliver over 35 percent of all sales, an automated e-mail/customer service systems (90 percent are automated, versus 44 percent for the average retailer) that are a key component of its best-in-class customer satisfaction, and dynamic pricing systems that crawl the Web and react to competitor pricing and stock levels by altering prices on Amazon.com, in some cases every 15 seconds.
”
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McKinsey Chief Marketing & Sales Officer Forum (Big Data, Analytics, and the Future of Marketing & Sales)
“
Here’s something you may not know: every time you go to Facebook or ESPN.com or wherever, you’re unleashing a mad scramble of money, data, and pixels that involves undersea fiber-optic cables, the world’s best database technologies, and everything that is known about you by greedy strangers. Every. Single. Time. The magic of how this happens is called “real-time bidding” (RTB) exchanges, and we’ll get into the technical details before long. For now, imagine that every time you go to CNN.com, it’s as though a new sell order for one share in your brain is transmitted to a stock exchange. Picture it: individual quanta of human attention sold, bit by bit, like so many million shares of General Motors stock, billions of times a day. Remember Spear, Leeds & Kellogg, Goldman Sachs’s old-school brokerage acquisition, and its disappearing (or disappeared) traders? The company went from hundreds of traders and two programmers to twenty programmers and two traders in a few years. That same process was just starting in the media world circa 2009, and is right now, in 2016, kicking into high gear. As part of that shift, one of the final paroxysms of wasted effort at Adchemy was taking place precisely in the RTB space. An engineer named Matthew McEachen, one of Adchemy’s best, and I built an RTB bidding engine that talked to Google’s huge ad exchange, the figurative New York Stock Exchange of media, and submitted bids and ads at speeds of upwards of one hundred thousand requests per second. We had been ordered to do so only to feed some bullshit line Murthy was laying on potential partners that we were a real-time ads-buying company. Like so much at Adchemy, that technology would be a throwaway, but the knowledge I gained there, from poring over Google’s RTB technical documentation and passing Google’s merciless integration tests with our code, would set me light-years ahead of the clueless product team at Facebook years later.
”
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Antonio García Martínez (Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley)
“
There were several immediate reasons for the stock market’s reversal. The excesses of the dot-com boom had begun to wear on investors. Companies without actual business models were raising hundreds of millions of dollars, rushing to go public, and seeing their stock prices roar into the stratosphere despite unsound financial footing. In March of 2000, a critical cover story in Barron’s pointed out the self-destructive rate at which Web companies like Amazon were burning through their venture capital. The dot-com boom had been built largely on faith that the market would give these young, unprofitable companies plenty of room to mature; the Barron’s story reinforced fears that a day of reckoning was coming. The NASDAQ peaked on March 10,
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Brad Stone (The Everything Store: Jeff Bezos and the Age of Amazon)
“
First, you find the “market capitalization” (“market cap” for short) by multiplying the number of shares outstanding (let’s say 100 million) by the current stock price (let’s say $100 a share). One hundred million times $100 equals $10 billion, so that’s the market cap for DotCom.com.
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Peter Lynch (One Up On Wall Street: How To Use What You Already Know To Make Money In)
“
Acts related to
the importance of
the protection of
whistleblowers
- Act on Prevention of Divulgence and Protection
of Industrial Technology
- Act on External Audit of Stock Companies
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”
섹파만들기
“
Halo Effect Cisco, the Silicon Valley firm, was once a darling of the new economy. Business journalists gushed about its success in every discipline: its wonderful customer service, perfect strategy, skilful acquisitions, unique corporate culture and charismatic CEO. In March 2000, it was the most valuable company in the world. When Cisco’s stock plummeted 80% the following year, the journalists changed their tune. Suddenly the company’s competitive advantages were reframed as destructive shortcomings: poor customer service, a woolly strategy, clumsy acquisitions, a lame corporate culture and an insipid CEO. All this – and yet neither the strategy nor the CEO had changed. What had changed, in the wake of the dot-com crash, was demand for Cisco’s product – and that was through no fault of the firm. The halo effect occurs when a single aspect dazzles us and affects how we see the full picture. In the case of Cisco, its halo shone particularly bright. Journalists were astounded by its stock prices and assumed the entire business was just as brilliant – without making closer investigation. The halo effect always works the same way: we take a simple-to-obtain or remarkable fact or detail, such as a company’s financial situation, and extrapolate conclusions from there that are harder to nail down, such as the merit of its management or the feasibility of its strategy. We often ascribe success and superiority where little is due, such as when we favour products from a manufacturer simply because of its good reputation. Another example of the halo effect: we believe that CEOs who are successful in one industry will thrive in any sector – and furthermore that they are heroes in their private lives, too.
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Rolf Dobelli (The Art of Thinking Clearly: The Secrets of Perfect Decision-Making)
“
With the recent demise of totalitarian communisms, and new rise of capital’sglobal reach and power, it has become fashionable to explain away today’s gross factor imbalance and assume the world has entered a new era of capitalist peace and “new paradigm” of perpetual prosperity. Such assumptions not only run counter to history, and fly in the face of today’s growing wealth disparities, depression, stock debacles, and social backlash but also deny the dismal dynamic set into place.
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Kent Welton (CAP-COM, The Economics Of Balance - Capitalism & Communalism In The Enfranchised Society y)
“
The price volatility within each trading day in the U.S. stock market between 2010 and 2013 was nearly 40 percent higher than the volatility between 2004 and 2006, for instance. There were days in 2011 in which volatility was higher than in the most volatile days of the dot-com bubble.
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Michael Lewis (Flash Boys: A Wall Street Revolt)
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But apparently you don't need dot-com wealth to ruin an area for its low-income residents. The Pioneer Press quotes Secretary of HUD Andrew Cuomo ruing the "cruel irony" that prosperity is shrinking the stock of affordable housing nationwide: "The stronger the economy, the stronger the upward pressure on rents.
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Barbara Ehrenreich (Nickel and Dimed: On (Not) Getting By in America)
“
Global finance made so much hay, not through efficient markets but by riding up and down three interlinked giant global asset bubbles using huge amounts of leverage. The first bubble began in US equities in 1987 and ran, with a dip in the dot-com era, until 2007. It was the longest equity bull market in history, and it spread out from the United States to boost stock markets all over the world. The smart cash that was being made in those equity markets looked around for a hedge and found real estate, which began its own global bubble phase in 1997 and ran until the crisis hit in 2006. The final bubble occurred in commodities, which rose sharply in 2005 and 2006, long before anyone had heard the words “quantitative easing,” and which burst quickly since these were comparatively tiny markets, too small to sustain such volumes of liquidity all hunting either safety or yield. The popping of these interlinked bubbles combined with losses in the subprime sector of the mortgage derivatives market to trigger the current crisis.
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Mark Blyth (Austerity: The History of a Dangerous Idea)
Tom K. Lloyd (Successful Stock Signals for Traders and Portfolio Managers: Integrating Technical Analysis with Fundamentals to Improve Performance (Wiley Trading))
“
In response to current events, people often reach for historical analogies, and this occasion was no exception. The trick is to choose the right analogy. In August 2007, the analogies that came to mind—both inside and outside the Fed—were October 1987, when the Dow Jones industrial average had plummeted nearly 23 percent in a single day, and August 1998, when the Dow had fallen 11.5 percent over three days after Russia defaulted on its foreign debts. With help from the Fed, markets had rebounded each time with little evident damage to the economy. Not everyone viewed these interventions as successful, though. In fact, some viewed the Fed’s actions in the fall of 1998—three quarter-point reductions in the federal funds rate—as an overreaction that helped fuel the growing dot-com bubble. Others derided what they perceived to be a tendency of the Fed to respond too strongly to price declines in stocks and other financial assets, which they dubbed the “Greenspan put.” (A put is an options contract that protects the buyer against loss if the price of a stock or other security declines.) Newspaper opinion columns in August 2007 were rife with speculation that Helicopter Ben would provide a similar put soon. In arguing against Fed intervention, many commentators asserted that investors had grown complacent and needed to be taught a lesson. The cure to the current mess, this line of thinking went, was a repricing of risk, meaning a painful reduction in asset prices—from stocks to bonds to mortgage-linked securities. “Credit panics are never pretty, but their virtue is that they restore some fear and humility to the marketplace,” the Wall Street Journal had editorialized, in arguing for no rate cut at the August 7 FOMC meeting.
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Ben S. Bernanke (The Courage to Act: A Memoir of a Crisis and Its Aftermath)
“
iStockPhoto.com The photos aren’t free here, but they do offer one image daily that’s free of charge.
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Frances Caballo (Social Media Just for Writers: The Best Online Marketing Tips for Selling Your Books)
“
Everyone seems to suffer from "metaverse FOMO" right now. To a certain extent, it's like the mid-'90s all over again. During the internet boom, companies that added a ".com" suffix to their names (even though they had nothing to do with the Internet) experienced abnormal returns in terms of stock value. That's precisely what is happening with any brand with the words crypto, blockchain, metaverse, or Web3 attached to it.
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Simone Puorto
“
At the end of 1999 I was the editor of Time, and we made a somewhat offbeat decision to make Bezos our Person of the Year, even though he wasn’t a famous world leader or statesman. I had the theory that the people who affect our lives the most are often the people in business and technology who, at least early in their careers, aren’t often found on the front pages. For example, we had made Andy Grove of Intel the Person of the Year at the end of 1997 because I felt the explosion of the microchip was changing our society more than any prime minister or president or treasury secretary. But as the publication date of our Bezos issue neared in December 1999, the air was starting to go out of the dot.com bubble. I was worried—correctly—that internet stocks, such as Amazon, would start to collapse. So I asked the CEO of Time Inc., the very wise Don Logan, whether I was making a mistake by choosing Bezos and would look silly in years to come if the internet economy deflated. No, Don told me. “Stick with your choice. Jeff Bezos is not in the internet business. He’s in the customer-service business. He will be around for decades to come, well after people have forgotten all the dot.coms that are going to go bust.
”
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Jeff Bezos (Invent and Wander: The Collected Writings of Jeff Bezos)
“
Life as an Enron employee was good. Prestwood’s annual salary rose steadily to sixty-five thousand dollars, with additional retirement benefits paid in Enron stock. When Houston Natural and Internorth had merged, all of Prestwood’s investments were automatically converted to Enron stock. He continued to set aside money in the company’s retirement fund, buying even more stock. Internally, the company relentlessly promoted employee stock ownership. Newsletters touted Enron’s growth as “simply stunning,” and Lay, at company events, urged employees to buy more stock. To Prestwood, it didn’t seem like a problem that his future was tied directly to Enron’s. Enron had committed to him, and he was showing his gratitude. “To me, this is the American way, loyalty to your employer,” he says. Prestwood was loyal to the bitter end. When he retired in 2000, he had accumulated 13,500 shares of Enron stock, worth $1.3 million at their peak. Then, at age sixty-eight, Prestwood suddenly lost his entire Enron nest egg. He now survives on a previous employer’s pension of $521 a month and a Social Security check of $1,294. “There aint no such thing as a dream anymore,” he says. He lives on a three-acre farm north of Houston willed to him as a baby in 1938 after his mother died. “I hadn’t planned much for the retirement. Wanted to go fishing, hunting. I was gonna travel a little.” Now he’ll sell his family’s land. Has to, he says. He is still paying off his mortgage.7 In some respects, Prestwood’s case is not unusual. Often people do not diversify at all, and sometimes employees invest a lot of their money in their employer’s stock. Amazing but true: five million Americans have more than 60 percent of their retirement savings in company stock.8 This concentration is risky on two counts. First, a single security is much riskier than the portfolios offered by mutual funds. Second, as employees of Enron and WorldCom discovered the hard way, workers risk losing both their jobs and the bulk of their retirement savings all at once.
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Richard H. Thaler (Nudge: Improving Decisions About Health, Wealth, and Happiness)
“
Use websites like Garettplanningnetwork.com, financialplanningassociation.org, and napfa.org to find a list of potential advisors
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Brian Feroldi (Why Does The Stock Market Go Up?: Everything You Should Have Been Taught About Investing In School, But Weren't)
“
On the one hand people that have been investing through the events of 1987, 2000, and 2008 have experienced a lot of different markets. On the other hand, isn't it possible that this experience can lead to overconfidence? Failing to admit you're wrong anchoring to previous outcomes two dangerous things happen when you rely too heavily on investment history as a guide to what's going to happen next 1) you'll likely miss the outlier events that mo ve the needle the most. Important events in historical data are the big outliers. The record-breaking events they are what moved the needle in the economy and the stock market - The Great Depression, World War II, the .Com bubble, September 11th, the housing crash of the mid 2000s. A handful of outlier events played an enormous role because they influenced so many unrelated events in their wake.
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Morgan Housel (The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness)
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ALL RIGHTS RESERVED. No part of this book may be used or reproduced in any matter whatsoever without the written and signed permission of the author. All trademarked names are the property of their owner and are acknowledged by the proper use of capitalization throughout. OTHER ‘Game on Boys’ BOOKS Available on Amazon as eBooks or print books Game on Boys 4 can be read separately or part of a series FREE ebook Game on Boys 1:The PlayStation Playoffs(8-12) Game on Boys 2 : Minecraft Madness (8-12) Game on Boys 3 : NO Girls Allowed Game on Boys 5 : House of Horrors Game on Boys 6 : Galactic Zombie Other books by Kate Cullen FREE Diary Of a Wickedly Cool Witch : Bullies and Baddies(8-13) Boyfriend Stealer : Diary of a Wickedly Cool Witch 2 (8-13) Diary of a Wickedly Cool Witch 3 : Perfect Ten (8-13) Diary of a Wickedly Cool Witch 4 : Witch School for Misfits Lucy goes to the Halloween Party (Early readers) Lucy the Easter Dog (Early readers) Lucy's Merry Christmas Sammy McGann and the Secret Soup People (5-10) Follow KATE on TWITTER at Kate Cullen @ katekate5555 Or email gameonboysseries@gmail.com to receive email updates. (Copy and paste) Or visit her website for new books and giveaways Kate Cullen author website Contents 1. Wow 2. BYODD 3. Secrets 4. News 5. Brats 6. Santa 7. Wishing 8. Blocky 9. Monsters 10. Wolverine 11. Creepy. 12. Arachnophobia 13. Fartblaster 14. Superhero 15. Enderman 16. Teleporting 17. Lost 18. Potions 19. Scared 20. Spells 21. Fireworks 22. Homecoming 1. WOW You know how awesome Christmas is, and birthdays are sick as, Easter is just a big fat chocolate splurge, and even Thanksgiving is like pig-out insanity. Weekends are kinda cool too, but holidays are totally far out man. And when a new PS game comes out and they have a midnight release extravaganza at the game store, it’s like crazy time, coolness overload. All these things are the main reason I exist on this earth. Without all this stuff, life would just SUCK big time. But nothing, I repeat NOTHING comes close to the Christmas I just had. WOW! I repeat WOW! Where do I even start? This Christmas was a like a dream come true. Actually it was sort of like a nightmare too, if that makes any sense. A dream and a nightmare mixed up into one. Totally far out man. Totally gobsmacking, totally awesome, but totally freaking scary. So you’re probably thinking like I won a million bucks or something and then got mugged, or the owner of Sony PlayStation company sent me 1000 free PS games, and then the house got robbed at gunpoint. Or even better, the owner made me the new boss of the Sony PlayStation company. Yeah right! Like that will ever happen! In my dreams!! Although, after what happened, I’m thinking that absolutely anything is possible. 2. BYODD The last day at school before Christmas break was awesome. We had a BYOD day in the afternoon. The first part of the day we had to do all the boring Christmassy stuff like making soppy cards for our families, coloring pictures of Santa and doing boring word searches looking for words like (DER) ‘Santa, Christmas, present, jingle, stocking’. Like BORING. Capital ‘B’ Boring. Why can’t Christmas word finds have proper Christmas words like, console, iPhone 6, PlayStation games, Star wars, BMX, Nerf Modulous Blaster, Thunderblast, Star Wars darth vader vehicle, lego Star Wars Death star?
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Kate Cullen (GAME ON BOYS : Minecraft Superhero : Christmas Gaming adventure for Middle-grade kids (Game on Boys Series Book 4))
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The most familiar products are Bach Flowers composed of 38 individual remedies. Each benefits a different emotional state, and is sometimes used in combination with others for greater effect. Rescue Remedy, for instance, is a premixed combination of the essences Impatiens, Star of Bethlehem, Cherry Plum, Rock Rose and Clematis, recommended for any kind of stress. Most health food stores carry Bach Flower remedies. They’re safe to use alongside other medical treatments, and choosing the “wrong” essence won’t cause harm. Once you’ve chosen your flower essences, here’s how to put them to work. · Maintain the original undiluted bottle as your stock bottle. It should last a very long time. · To create a treatment strength mixture, place two drops of the undiluted remedy in a one-ounce glass dropper bottle, and then fill the bottle three-quarters full with spring water, and shake 100 times. Don’t use tap water or distilled water—they go stale too quickly. Refrigerate the mixture. It lasts up to two weeks. · Give the pet four drops four times a day from the treatment bottle until the behavior changes. This could be anywhere from a few days to a couple weeks. It can be given straight from the treatment bottle dropper into the pet’s mouth or on his nose if this doesn’t stress him out too much. Don’t touch the dropper to the pet or that could contaminate the bottle.
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Amy Shojai (ComPETability: Solving Behavior Problems in Your Multi-Cat Household)
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BACH FLOWER REMEDIES Flower essence therapy can also help with behavior modification. These herbal remedies are made from plants, trees and bushes. The essences are said to carry the imprint of the plant’s energy, so the patient’s body somehow “recognizes” this image, which wakes up the system so it can heal itself. In a percentage of cases, flower essence therapies work extraordinarily well. The most familiar products are Bach Flowers composed of 38 individual remedies. Each benefits a different emotional state, and is sometimes used in combination with others for greater effect. Rescue Remedy, for instance, is a premixed combination of the essences Impatiens, Star of Bethlehem, Cherry Plum, Rock Rose and Clematis, recommended for any kind of stress. Most health food stores carry Bach Flower remedies. They’re safe to use alongside other medical treatments, and choosing the “wrong” essence won’t cause harm. Once you’ve chosen your flower essences, here’s how to put them to work. · Maintain the original undiluted bottle as your stock bottle. It should last a very long time. · To create a treatment strength mixture, place two drops of the undiluted remedy in a one-ounce glass dropper bottle, and then fill the bottle three-quarters full with spring water, and shake 100 times. Don’t use tap water or distilled water—they go stale too quickly. Refrigerate the mixture. It lasts up to two weeks. · Give the pet four drops four times a day from the treatment bottle until the behavior changes. This could be anywhere from a few days to a couple weeks. It can be given straight from the treatment bottle dropper into the pet’s mouth or on his nose if this doesn’t stress him out too much. Don’t touch the dropper to the pet or that could contaminate the bottle. · Alternatively, add drops to a treat, like a teaspoonful of plain yogurt, or add several drops of the remedy to the drinking water for all the pets to sip.
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Amy Shojai (ComPETability: Solving Behavior Problems in Your Multi-Cat Household)
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