Fable:A business buyer asks a fortuneteller "What it will be like to own a business?" She answers, "The next five years will be hard - very hard." "Okay," he says, I can handle five years, then what?" "You'll get used to it."Though more than two dozen steps must be completed to successfully buy a business, five of the most basic steps are often ignored completely. These buyers often find these steps confusing and unfocused, all five steps...more
Linear Income Vs Passive Income At a very recent party , during the dinner hours I could meet a very notable industrialist . I am quite younger to him , rather he was quite senior to me - age wise too. Incidentally , he happened to be a professional friend of my father , and he had seen me quite young , as a child.He was quite amazed and asked me , "What do you do ?" "Business" - my answer. I told him that I run a manufacturing unit , which has...more
You probably grew up like I did, with your mother trying to instill in you a sense of propriety and humility. As kids, we are fearless about shouting out our accomplishments and trying to out-do one another. As we get older, though, we pick up on clues that other people don't like it when we brag about ourselves and we learn to keep our successes hidden. What we don't learn, though, is the right way to get credit for what we do professionally.What are some of the things you heard growing up?"You'll break your arm, patting yourself on the back.""You have two ears and one mouth, so listen twice as much as you talk."Or, my mother's favorite, "Self-praise stinks."There's a wide gulf between practicing humility and promoting ourselves at work. What works to our advantage in a social setting (or with our family) doesn't always translate to the workplace. So, how do we make sure our accomplishments get noticed?1. Own your success. Men learn this early on - watch any pro football player who's just waltzed over the goal line. He celebrates immediately and publicly, making sure that everyone knows that he's the MAN! If men in business could carry...more
A consumer' credit history is recurrently trailed by credit rating agencies. The data reported by these agencies is mostly provided to them by creditors and includes whole account of the relationship a person has with the lender. Thorough account information, including payment history, credit limits, high and low balances, and any hostile...more
Mutual funds are considered to be the best option by some investment managers. These funds can be managed by professionals and have the potential to provide the investors with high returns. Mutual fund companies invest an investor's money in various stocks, bonds and other short term or long term securities. Top mutual fund companies ensure...more
Developing a Profitable Relationship.You finally found that commercial property you want to buy - fantastic! Now what? All you need is the money and where do you get that? A commercial lender, of course. And here's the million dollar question - where do you find a lender you can trust, get the deal done, and with whom you enjoy dealing? You can go to the Internet and type "Commercial Mortgage Lender" into the search box and that will get you over 1.6 million options to look through. Doesn't seem like a good way to spend your time.Another option may be your local bank, the one that knows everything about you including your financial history, current holdings, and existing bank account. Negotiating a favorable rate with your local bank is like playing poker while showing everyone else at the table your hand. You lose the edge, the bargaining power to get the best deal. This is not saying that your bank will purposely strike you a bad deal, but unless you are borrowing millions of dollars and are a regular source of volume, they have no truly compelling reason to give you their best rates. Besides they already have your money and unless you are going to borrow $10...more
Every market goes through trading cycles. There is no exception to this. Be it the Stock Market, The Futures or the Forex market. They all go through different phases. Today, I want to point the different phases in the Forex market, identifying which...more
Most of us who are in business love to improve our business acumen. In general this involves reading or taking courses for which we often lack the time to do so. So we attend only the ones we have to, however audio books can solve this problem.With...more
After you`ve set your initial stop loss, chosen your method for calculating your trailing stop loss, and implemented all your money management rules, there is one last thing you should do; you should begin back testing your system.With out back...more
In Part 1 of Designing a Trading System in MetaStock, I had discussed the major components you needed to be able to track to create a mechanical entry system. These were measures of price, liquidity, trend, and volatility. The question now is, how do...more
One day, while Chicken Little was walking in the woods, an acorn fell and hit him on his head."Goodness gracious me!" said Chicken Little, "The sky is falling, the sky is falling. I must go warn everyone."We see this all the time. The stock market...more
Humpty Dumpty sat on a wall;Humpty Dumpty had a great fall. All the King's horses And all the King's menCouldn't put Humpty together again!You know this tragic story.During the 45+ years that I have been a financial advisor, I have...more