| Search Results
for Author
|
[ 5 Item(s) displayed from page 1 ]
| 5 of 5 results found for - "Steve Christ" | [Quote No.33900] Need Area: Mind > Focus
"All people are born into this world with two things: time and talent. How we spend them determines who we become." - Steve Christ
Wealth Daily Managing Editor
Author's Info on Wikipedia - Author on ebay - Author on Amazon - More Quotes by this Author
Start Searching Amazon for Gifts
Send as Free eCard with optional Google Image |
| [Quote No.33901] Need Area: Mind > Evolve
"All people are born into this world with two things: time and talent. How we spend them determines who we become!" - Steve Christ
Wealth Daily Managing Editor
Author's Info on Wikipedia - Author on ebay - Author on Amazon - More Quotes by this Author
Start Searching Amazon for Gifts
Send as Free eCard with optional Google Image |
| [Quote No.33903] Need Area: Money > Invest
"[The danger in investing is becoming 'irrational'.] The key here, though, is in learning to recognize the cognitive biases that have handicapped your investing in the first place.
I call them my 'Eleven Reasons Why What You Think is Probably Wrong.'
Learning to recognize these things can save you a ton of heartache, but only if you're honest with yourself.
The eleven emotional hurdles that could be killing your portfolio:
1--The Bandwagon Effect: This is the one that causes the most pain in a bubble. It's the idea that it's okay to follow the herd because so many other people believe in it. It's irrational because it places its faith in the safety of numbers, while completely disregarding the fundamentals. Without it, a bubble is impossible.
2--Loss Aversion: People to have a strong preference for avoiding losses over acquiring gains. It's the fear that puts them on the sidelines to stay.
3--Disposition Effect: This is the tendency for investors to lock in gains and ride out losses. It prompts the sale of shares that are rising, while at the same time keeping investors tied to losers for far too long. It's closely tied to loss aversion, since it's the fear of loss that dominates the thinking.
4--Outcome Bias: Judging a decision by its outcome rather than the quality of the decision at the time that it was made. This is what makes investors completely disregard a proper decision if it turns out to be a loss.
5--Sunken Costs Effect: Treating money that has already been spent as more valuable than money that may be spent in the future. It's what helps to build up losses because the investor believes that by selling at a loss he is wasting money. That same money could be put to use elsewhere.
6--Recency Bias: Weighting recent data more heavily than earlier experiences. It's what freezes investors especially after a series of losses even though there may be a much longer string of successes in the past.
7--Anchoring: This is the tendency for people to rely too heavily on readily available information when making a decision. Investors often base their decisions on information that may be faulty.
8--Belief in the Law of Small Numbers: This is when investors base their conclusions on a slice of data that is too small. It's the equivalent of making mountains out of molehills, and it blurs reality.
9--Endowment Effect: People tend to value something more once they own it. As in housing, people tend to overvalue what belongs to them. Of course, this only blinds to them to the real value.
10--Disconfirmation Bias: This makes people critical of information which contradicts their beliefs while uncritically accepting information that is in line with them. In short, it's a trap whereby people believe what they want to believe.
11--Post Purchase Rationalization: This when investors persuade themselves through rational argument that a purchase was a good value. Of course, if a decision needs to be rationalized after the fact... it is probably wrong.
Individually, of course, all of these biases are dangerous. Taken together, they are the stuff that bubbles [and poor investing] are made of.
Guarding against them in the future may be the one of the best investment decisions you'll ever make." - Steve Christ
Editor, 'Wealth Daily'.
Author's Info on Wikipedia - Author on ebay - Author on Amazon - More Quotes by this Author
Start Searching Amazon for Gifts
Send as Free eCard with optional Google Image |
| [Quote No.36296] Need Area: Work > Leadership
"Chester Nimitz and William 'Bull' Halsey may be more familiar names, but the truth is neither one of them was as highly decorated as one Eugene B. Fluckey.
Before Japan surrendered, 'Luckey Fluckey', as he was known, received numerous medals including four Navy Crosses, the Distinguished Service Medal, the Legion of Merit, and the highest decoration of them all, the Medal of Honor.
As the commander of the U.S.S. Barb, Fluckey and his crew sank 29 vessels, including an aircraft carrier, while surviving an estimated 400 shells, bombs, and depth charges fired by the enemy.
Always innovative, he even conceived of a method for firing rockets from a submarine and was the first to do it in anger off the coast of Japan in 1945.
What's more, his crew led the only invasion of the Japanese mainland, as eight of his saboteurs blew up a 16-car train under the cover of darkness.
But through it all, not one member of Fluckey's crew ever received a Purple Heart.
As retired Capt. Max Duncan, a torpedo officer on the Barb, recalled, 'He gave you a job, expected you to do it, and didn't micromanage.'
Loved by his crew, Fluckey kept a secret stash of beer aboard the Barb, serving up cold ones every time an enemy ship went to the bottom. Once, in a life-threatening situation, he even calmed the nerves of the crew by telling them the beer was already on ice.
'The beer didn't last too long,' Captain Duncan remembered, 'because we sank too many ships.'
Sadly, like so many others of The Greatest Generation, time eventually caught up with Admiral Fluckey. He passed away in 2007 at the age of 93. But before he passed, he left us his thoughts.
Speaking before a new group of submariners, the admiral said:
'Serve your country well. Put more into life than you expect to get out of it. Drive yourself and lead others. Make others feel good about themselves, they will outperform your expectations, and you will never lack for friends. On U.S.S Barb, our philosophy was, 'We dont have problems just solutions.'" - Steve Christ
Wealth Daily Weekend Edition, Sunday, May 29th, 2011.
Author's Info on Wikipedia - Author on ebay - Author on Amazon - More Quotes by this Author
Start Searching Amazon for Gifts
Send as Free eCard with optional Google Image |
| [Quote No.33902] Need Area: Friends > General
"[Beware political spin doctors and the politicians they advise. For when truth is perverted, informed choice, freedom and democracy are 'null and void'.] As every magician [and spin doctoring politician] who has ever lived knows, illusions create our world.
Even David Copperfield himself is willing to admit that 'real' magical powers are the stuff in the best-selling Harry Potter novels.
Copperfield explains that what he does is nothing more than a masterfully performed mirage which, when done properly, can make you believe that the Statue of Liberty has suddenly disappeared.
It works because the magician is a master manipulator.
He only lets you see what he wants you to see. By keeping other things hidden out of sight, the magician blurs the reality of an audience that deep down inside wants to believe in the possibilities.
The ruse complete, the audience leaves dumbfounded by the elaborate illusion. Reality has been transformed at least temporarily.
It's only later that we find out that the statue hasn't moved an inch; that the lovely assistant hasn't really been sliced in half.
In short, it's a scam writ large. And the bigger the lie, the bigger the box office.
Buy hey, at least it's entertaining if only for a few moments." - Steve Christ
Editor, 'Wealth Daily'.
Author's Info on Wikipedia - Author on ebay - Author on Amazon - More Quotes by this Author
Start Searching Amazon for Gifts
Send as Free eCard with optional Google Image |
|
|
|
|
Learn Quotes
