Companies & Businesses
Help In Accumulating Your Net Worth – Advice From The Experts
These days, anyone can set up a company, work mostly for themselves, and eventually reap the benefits of their labours, assuming, that is, that they don’t make (too many) mistakes along the way. So, a little help along that way can often be welcome and appreciated, whether financial, physical or – perhaps most importantly for the independent-minded prospective business-person – mental.
Following, in no particular order, are quotes from leaders of business – founders, owners, chairpersons, CEOs – who have either reached a position that you would eventually like to be in, and are often self-made billionaires, if they did not inherit a fortune, but started virtually from scratch and made their ‘pile’ themselves. With grateful thanks and acknowledgements to these wealthy, wise and generous people who have learned well, collectively over many years, often through their mistakes. Please read and learn well!
Richard Branson (Founder and Chairman, Virgin Group)
“Courage is what it takes to stand up and speak; courage is also what it takes to sit down and listen.” — “The Virgin Way: Everything I Know About Leadership,” 2014.
Ginni Rometty (Chairwoman, President and CEO, IBM)
“Growth and comfort never coexist.” — Northwestern University commencement address, 2015
Evan Spiegel, (CEO, Snapchat)
“You are going to make a lot of mistakes. I’ve already made a ton of them – some of them very publicly – and it will feel terrible, but it will be okay.” — Commencement address to the University of Southern California’s Marshall School of Business, 2015
Jack Ma (Founder and Executive Chairman, Alibaba Group)
“Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.” — Interview with Rebecca Fannin, 2006.
Steve Case (Co-founder, AOL)
“A vision without the ability to execute is probably a hallucination.” — Business Week, 2001.
Tim Cook (CEO, Apple Inc.)
“Your values matter. They are your North Star, and work takes on new meaning when you feel you are pointed in the right direction. Otherwise, it’s just a job, and life is too short for that.” — George Washington University commencement address, 2015.
Elon Musk (CEO and CTO of SpaceX and CEO of Tesla Motors)
“I’d rather play video games, write software, and read books than try and get an A if there’s no point in getting an A.” — “Elon Musk: Inventing the Future” by Ashlee Vance, 2015
Jason Kilar (Founding CEO, Hulu)
“The mountain peaks of one’s life may get the headlines and the Facebook posts, but the valleys… believe me, it is your journey through the valleys that will define you.” — University of North Carolina commencement address, 2015
Warren Buffett (CEO, Berkshire Hathaway)
“Someone is sitting in the shade today because someone planted a tree a long time ago.”
“I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful, and you try to be fearful when others are greedy.” — “Of Permanent Value: The Story of Warren Buffett” by Andrew Kilpatrick, 2007.
Bill Gates (Co-founder, Microsoft)
“Success is a lousy teacher. It seduces smart people into thinking they can’t lose.” — “The Road Ahead,” 1995.
Sheryl Sandberg (CEO, Facebook)
“Trying to do it all and expecting that it all can be done exactly right is a recipe for disappointment. Perfection is the enemy.” — “Lean In,” 2013.
Mark Zuckerberg (Co-founder, Facebook)
“I think a simple rule of business is, if you do the things that are easier first, then you can actually make a lot of progress.” — “Mark Zuckerberg: Ten Lessons in Leadership,” 2012.
Howard Schultz (CEO of Starbucks)
“Risk more than others think is safe. Dream more than others think is practical.” — “Onward: How Starbucks Fought for Its Life without Losing Its Soul,” 2007.
Arianna Huffington (Co-founder and editor-in-chief, The Huffington Post)
“We think, mistakenly, that success is the result of the amount of time we put in at work, instead of the quality of time we put in.” — “Thrive: The Third Metric to Redefining Success and Creating a Life of Well-Being, Wisdom, and Wonder,” 2014.
Larry Page (Co-founder, Google)
“You don’t need to have a 100-person company to develop that idea.” — Interview with Business Week Online Technology, 2001.
Narayana Murthy (Co-founder, Infosys)
“Respect, recognition, and reward flow out of performance.” — Entrepreneur of the New Millennium N.R. Narayana Murthy: Life and Times of N.R. Narayana Murthy, 2003.
Henry Ford (Founder, The Ford Motor Company)
“A business that makes nothing but money is a poor business.” — Quoted in News Journal, 1965.
Steve Jobs (Co-founder, Apple)
“Your time is limited, so don’t waste it living someone else’s life.” — Stanford Commencement address, 2005.
Nelson Mandela (Activist, Politician, President of South Africa, Humanitarian)
“Money won’t create success, the freedom to make it will.”
Barack Obama (Politician, US President)
“Focusing your life solely on making a buck shows a poverty of ambition. It asks too little of yourself, and it will leave you unfulfilled.”
Unatributed
‘On your death-bed, your life is supposed to pass before your eyes – if that’s right, make sure that it’s worth watching!”
Economy
Investing Advice from Millionaire Mohnish Pabrai
Purchasing the stock exchange is mind-boggling for lots of individuals. Comprehending it looks like such a complex process which we leave it for the significant investors to fathom. However, are you aware the most successful stock traders live from the philosophies. Warren Buffett is really a known to maintain his investment principles quite fundamental, also it worked. Warren Buffett is really one of the very successful investors and among the richest guys on the planet. He likens it to the entire procedure for flipping a coin, “Heads, I win. Tails, I don’t drop a lot of.” This lets you know how seriously he takes Buffett’s theory within the diversification of investments. Based on Warren Buffett, diversification is really a protection against ignorance. Being a real Buffett disciple and following Buffett’s principles plus a few of their own sets of basic principles appeared to work. For individuals who don’t know, Mohnish Pabrai is an investor and philanthropist. Then a longonly equity fund he handled could create a cumulative 517% internet to investors versus. 43% for the S&P 500 Index since beginning in 2000. This implies an outperformance of 1103%. The globe was amazed and Pabrai became a star investor. Discover several hints and lessons as he shares how he was competent to do it.
Read Warren Buffett
According to Pabrai, it all started for him by reading Warren Buffett’s annual letters to investors and other Buffett books (The Essays of Warren Buffett, Warren Buffett Speaks and Thoughts of Chairman Buffett) and biographies written by Lowenstein and Schroeder. Pabrai is a living proof it pays to read.
Own It
Following closely Buffett’s example of not looking at stocks as just pieces of paper but internalize that you’re actual owners of these companies. As a joke surely no wise businessman will take his investments. Who wants a company that appears questionable and undervalued? He constantly weighs in both the negative risk and possible prior to making an investment.
Patience Is a Virtue
Another investor Pabrai seems as much as is Charlie Munger who’s a huge proponent of waiting. He believes that you’re able enough to earn money by means of purchasing or selling but within the waiting. And waiting isn’t the simplest thing to do this you demand every ounce of someone’s forbearance. Yes, sometimes what you’re looking forward to is some sort of disaster to occur that will significantly change the share prices. To stay positive about this would be to consider reaping something from the unfortunate circumstances which could present.
Learn from Mistakes
The fact is it doesn’t usually benefit the best constantly. You develop some, you lose some. Whenever you purchase shares, you must monitor carefully how it will. Pabrai says that after a particular trade doesn’t function, you discover immediately what might have went wrong so that you won’t do the same errors over and over. It is worth it to be aware of how others do it, if it’s right or wrong, in order to learn away from their successes and failures.
Checklist Investing
Another guiding light in Pabrai’s means to success is Atul Gawande’s novel The Checklist Manifesto. He recognized that there were clear signs within the initial location, when assessing how a trade went all wrong. So he made a check list which consists of around 98 questions he examines before making a trade or investment. These questions vary from leverage to debt covenants, moats, union and labor relations, direction and possession. Pabrai noted that since he incorporated using a checklist in investing, his error rate decreased quite considerably.
Cloning
Pabrai will be the first to inform you that not one of his investment ideas are original and groundbreaking. After all investing is actually not an originality competition. He picks on other people’s minds. The Buffet partnerships in the 1950’s was the design for the arrangement of his own fund. Furthermore, he gets investment ideas from investors he greatly admires. For example, he lifted the structure of his own fund straight from the Buffett partnerships of the 1950’s.
Give Back
Pabrai collectively with his wife began the Dakshana Foundation in 2005. It was the Pabrai’s intention to provide back to society at least two% of their earnings that’s about $1 million annually. Their primary focus was supposed to utilize the cash to help relieve the poverty within their state in India. How they are doing it is through supplying tutorial services for the lowest of poor students of India to ensure that they’ll have the ability to pass the grueling entrance examinations of the very competitive institutions such as the IIT Joint Entrance Examination and the AllIndia Engineering Entrance Examination, get great jobs and assist their loved ones. Again-all of Pabrai’s non-profit initiatives were inspired by Warren Buffet who’s a huge philanthropist himself.
Companies
BlackBerry Expected to get $500 Million Tax Refund
BlackBerry is poised to get a huge tax break. Within the 2nd quarter of FY 2014, BlackBerry posted a tax reduction of $965 million, chiefly in the foundation of inventory writedown. But, various other facets of the finances are going to look when some regulatory filings become public. Some of those variables include the prices with remodeling the whole smartphone lineup, laying-off 4, 500 workers and revamping sales and marketing. The business is in the middle of restructuring and is seeking a customer, as revenue of the BlackBerry Z10 touchscreen mobile are lower than expected. It seems, though, that BlackBerry might ultimately be coming out after once having become the darling of the PDA market.
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