People that end up with large amounts of wealth tend to have similar habits. In discussing wealth, I’m talking about people that end up with enough money to do whatever they want. These are the multimillionaires and billionaires that have made a habit out of creating large amounts of wealth. The following are the common […]
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Not every pursuit in life rewards greater effort with a better result. Some things don’t improve with more effort and can even be made worse the harder you try. There are many activities that reward patience, a lack of activity, and self-control. The linear curve of effort versus results works best for simple productive output
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Elon confirmed on Twitter that he sent the following productivity recommendations to Tesla employees in an email. Stop excessive meetings Stop frequent meetings Exit calls and meetings when you aren’t adding value Stop using acronyms Direct communication is the best Free flow of information in a business is critical Common sense is the best guide
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Your mindset is the framework of self-perceptions and beliefs you think about yourself. It’s the mental model you use as a filter for how you see ourself in relation to the world. Your mindset determines behavior, future outlook, and your general mental attitude. The mindset you carry determines what you believe is possible for you
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As I have studied successful people across different areas like business, investing, and sports over the past 20 years some repeating patterns have emerged. Successful habits can be learned, modelled, and repeated to give you an edge in your own career, business, or industry. There are ten habits that all successful people share from all
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I got very lucky when I started out trading in the early 1990s as tech stocks stayed in uptrends and continually made new highs in price after each dip. Buying the dip and holding worked repeatedly much like it did in last few years in both stocks and crypto. However, after the dotcom bust of
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The best order of operations for where to put your savings depends on where it will be most helpful in moving you toward your personal financial goals. This sequence can be different for everyone but there are some basic principles for determining where to best allocate your savings for debt reduction and investing. In what
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Options are a market of derivatives that gives traders and investors the right but not the obligation to buy or sell shares of stock over a time period at a strike price before an expiration date for the cost of the option contract. The options market is a zero-sum game where there is a buyer
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A chart pattern is a visual representation of the actions of buyers and sellers in a market recorded in price action. A chart is not predictive of the future but shows what is happening with buyers and sellers in the present moment. What it does is signal a higher probability of one path over another
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Excessive thinking happens to people as their mind is constantly trying to identify and solve problems. Overthinking can also be due to high levels of anxiety causing worry by imagining terrible future scenarios playing out. The inability to concentrate on the current moment but instead becoming lost in memories of the past or in your
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The importance of financial literacy makes it your most valuable asset you will ever have. Both understanding and also having the ability to use financial principles efficiently in your personal life is financial literacy. The concepts of budgeting, paying bills, investing, maintaining good credit, limiting debt, and managing a retirement account are all areas of
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Fear is a defensive emotion meant to protect you from mental, monetary, or physical harm caused by the belief that a person, thing, situation, or place is dangerous or a threat. Fear is a warning sent to your nervous system to trigger your fight or flight response as a reaction to the threat. Your body
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A study was conducted in 1998 at Columbia University by professors Claudia M. Mueller and Carol Dweck where they took a large group of fifth graders and separated them into two groups to complete puzzles. After solving the puzzles one group of children were told they did so well because they were so smart, the
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3x+1 Concerning the above math problem, Paul Erdös said that “Mathematics is not yet ripe for such questions.” He also offered $500 USD for its solution. Jeffrey Lagarias said in 2010 that this math problem: “Is an extraordinarily difficult problem, completely out of reach of present day mathematics.” Richard Guy has this on his list
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“It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.” – Charlie Munger Most people focus on what they need to add to their life to become rich, what may be even more important is what needs to be
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Stoicism is the philosophy of the acceptance of circumstances as they are and not what we wish they were. Stoicism is the art of not indulging in unhelpful emotions. Stoics are pragmatists that see no purpose in dwelling in negative emotions like regret, jealously, and worry to name a few. Stoics don’t cry over spilt
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Day trading is a serious endeavor that shouldn’t be taken lightly. As a day trader you are competing against professionals, algorithms, and large trading firms for profits in the markets. If you hope to make money you will need to operate like a business and not like a gambler. Success in day trading will require
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“I was working at a financial firm in New York City with a bunch of very smart people and I had a brilliant boss I much admired. I went to my boss and told him I was going to start a company selling books on the internet. He took me on a long walk in
“I Got Rich When I Understood This.” – Jeff Bezos Read More »
Self-confidence is the feeling of faith and trust in your own abilities, skills, experience, and judgment. It’s the belief that you’re good enough to accomplish the task before you. It’s believing in yourself. People can have different levels of self-confidence in different areas of their life. You may have complete self-confidence at work but have
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I have always been an avid reader as I love learning new things. I especially love learning life changing information that can improve my life. One of my early thoughts about reading can be summarized in this way. If you’re broke, read 5 personal finance books. If you’re unhappy, read 5 books on the art
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