“How do you actually lower your expenses? Big cuts in your budget aren’t the easiest thing to handle, especially when you’ve already been living on beans and rice. So how do you lower and keep your expenses down without losing your mind in the process? Here are some things to keep in mind when lowering expenses.” Read More
Source: Christian Personal Finance
Studying the great businessman and leaders of our time is necessary for our own success. In a past post we’ve mentioned Eddie Lampert, the famous hedge fund investor, as just one example of a wise, long-term investor worth studying.
Today’s post is an interview with Seth Klarman, another terrific investor, whose philosophy and approach we could all learn from.
Please click on the link below to enjoy the video:
Charlie Rose interviews Seth Klarman
Source: My Investing Notebook
Editor’s Note: Harvard Business School professor John Quelch writes a blog on marketing issues, called Marketing Know: How, for Harvard Business Online. It is reprinted on HBS Working Knowledge.
“Marketers are trained to match supply to demand. Everything that consumers need should be available at the right time in the right place at the right price. Coca-Cola’s mantra always has been to be within an arm’s reach of desire. To be out of stock is to lose a sale or, worse, to lose a sale to a competitor.
The idea of bringing together a group of people in order to generate innovative ideas rarely creates the desired results.
“Evidence has long shown that getting a group of people to think individually about solutions, and then combining their ideas, can be more productive than getting them to think as a group. Some people are afraid of introducing radical ideas in front of a group and don’t speak up; in other cases, the group is either too small or too big to be effective.
Posted below is an article from earlytorise regarding time management and productivity. Craig Ballantyne makes a wonderful point on the difference between “finding” time and “making” time. Enjoy the article. You can find many more like it at http://www.earlytorise.com/.
“Here’s the truth about time management.
We don’t ‘find’ time, we must ‘make’ time for what is important to us.
For me, that means getting up at 5am each day so I can take advantage of my magic time to write. I have to put effort into making that time available for me. I don’t just randomly find time to get my best work done.
It doesn’t matter who you are, where you live, or what you do for a living. Rich, poor, or somewhere in between we all have the same amount of time to work with each and every day. 24 hours. No more and no less. Although I dislike the saying it is as certain as death and taxes. The question is how do you spend your time? We each may have the same 24 hours but we certainly do not spend them the same way.
Studying successful business leaders is a great way to see how those who are already wildly successful, both professionally and financially have achieved their success. Anyone wanting to enhance their professional career or learn more about investing would benefit from studying someone like Eddie Lampert.
Who Is He?
Maybe you have you never heard of him? Chances are even if you don’t know who he is you’ve visited one of his controlled investments such as Sears, Kmart, or Autozone. In the most recent addition of Forbes he was listed as the 117th richest person in America with a net worth of $3 billion.
In July, 2011 Craig Ballantyne took over as editor of ETR (Early To Rise). For those not familiar with the site, ETR provides its readers with a daily e-mail first thing in the morning on business, success, and goal setting. It’s archives offer incredibly valuable information for anyone willing to take the time to read past issues.
Simplifying your life means gaining control over your time and focusing on those activities which truly drive results and move you closer to your goals. Friday’s message from Craig Ballantyne and Ryan Murdock is on simplifing life and letting go of that which is no longer important. To read the full article click here. I think you’ll be glad you did. It helps to put things into perspective.
“No one wants to die. Even people who want to go to heaven don’t want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life’s change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.”
How do you accumulate wealth? It’s quite simple really – one dollar at a time.
O.K. most people would say “sure”, that’s easy enough but let’s be realistic, saving a dollar here or a dollar there just isn’t going to cut it. And to an extent I don’t disagree. So the more appropriate answer is to start saving as early as possible, save as many individual dollars as possible, invest that money in a conservative manner with a long-term focus, and strive to increase the amount you save each and every year.
START EARLY
