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How I Structure My Day

September 3, 2010 By 2 Comments
Setting the Agenda

When I come into the office, I begin by sitting down with a white pad of narrow-ruled paper (very small lines - smaller than college ruled because that is how I like it), and set out everything I want to achieve that day.  If I knock off the top 5 things, I consider it a success. After reading a fantastic book - one of the best I have EVER read called The Millionaire in the Mirror: How to Find Your Passion and Make a Fortune Doing It--Without Quitting Your Day Job, I realized that everything … [Read more...]

Filed Under: Making Money, My Businesses, My Life Tagged With: , , , , , , , ,

You Will Make Mistakes. Forgive Yourself. Move On. Start Rebuilding.

September 2, 2010 By Leave a Comment

"His son died, his marriage ended, he lost a lot of money," said Charles, Jr.  "He just walks away from that (emotionally).  Dad says to himself, that doesn't work.  Don't revisit it.  There are some things my dad could deal with better if he faced them more.  My dad, if he had a bad experience in a town, in a restaurant, he would not go back.  I'd try again." - Page 45, Damn Right!  Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger by Janet Lowe You will have failure … [Read more...]

Filed Under: Philosophy Tagged With: , , , ,

Professor Richard Wolff Says Capitalism Is To Blame … for Everything

August 21, 2010 By 1 Comment
Richard Wolff on Capitalism

Amherst professor Richard Wolff, is arguing that capitalism is a failure because events like the housing crisis keep occurring with some regularity.  Evil banks are "forcing debt" on more Americans who are downing under their bills.  He proposes that we should create low cost "community owned" housing for everyone. Yes, Richard, because American Express and Discover showed up at your house, put a gun to your head and made you pick up a pen, place the tip of the pen on the cardholder … [Read more...]

Filed Under: Economics Tagged With: , , , , , , , , ,

One Very, Very Good Thing About the Financial Reform Bill That Just Passed Congress

July 16, 2010 By Leave a Comment
Derivatives Trading Office

I don't care what anyone tells you, I want you to listen to me very, very carefully: Although I cannot give an opinion on the financial reform act that just passed Congress because I haven't read it yet, I can say that the provision that requires all derivatives other than those used for "commercial purposes" to be traded on a regulated exchange is absolutely, positively, 100% required if we have any hope of avoiding a collapse like we had following the failure of Lehman Brothers. I realize, … [Read more...]

Filed Under: In the News, Stock Options Tagged With: , , , , ,

“Dreams Become Reality One Choice at a Time” – A Lesson on Life, Business, and Money

July 11, 2010 By 4 Comments
Country Club Plaza in Kansas City

Isn't that a fantastic quote?  I got it from Tara Beth Workman a few days ago and I've been thinking about it since.  I realize that it is entirely true and that my life is a reflection of that.  All of our lives are reflections of that.  Let me explain. This afternoon, Aaron and I decided to take an impromptu trip to Hall's department store because we were restless and wanted to get out of the office.  Turns out, we hit a major financial milestone so rewarded ourselves by spending just … [Read more...]

Filed Under: Featured, Making Money, Saving Money Tagged With: , , , , , , , , , , , , , , , , , ,

Wisdom for the Day – 07/04/10

July 4, 2010 By Leave a Comment

It is a disgrace for a gentleman's words to be greater than his deeds.- Confucious, Spring and Autumn Period Beware lest your eyes are bigger than your belly. - Traditional Chinese Proverb A great man is hard on himself. A small man is hard on others. - Confucious, Spring and Autumn Period The wise man never trusts in appearances. - Confucious, Spring and Autumn Period A tiger does not take insults from sheep. - Traditional Chinese Proverb The leader must be at the forefront of … [Read more...]

Filed Under: Proverbs and Wisdom Tagged With: ,

The Psychology of Human Misjudgment by Charlie Munger

November 24, 2008 By 2 Comments
Charles Munger, Vice Chairman of Berkshire Hathaway

By Charlie Munger (Warren Buffett’s partner at Berkshire Hathaway) Speech at Harvard Law School (1995) Transcription of The Psychology of Human Misjudgment, comments [in brackets] by Whitney Tilson.  Note from Joshua Kennon: I've written a lot about Charlie Munger over the years, especially the influence he has had on my life and how we run my companies by using our own mental models.  This is one of the best speeches Munger ever gave ... which may be why my family owns about a dozen … [Read more...]

Filed Under: Psychology Tagged With: , , , , , , , , , , , , , , , , ,