The Wolf of Wall Street

Warren Buffett “The man of dollars”

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22 Facts

1) While his elementary school classmates were dreaming about the major leagues and Hollywood, 10-year old Buffett was having lunch with a member of the New York Stock Exchange and setting life goals.

2) He bought his first stock at age 11.

3) When Buffett was a teen, he was already raking in about $175 a month — more than his teachers (and most adults).

4) He had amassed the equivalent of $53,000 by the time he was just 16.

5) He was rejected from Harvard Business School.

6) His idol refused to hire him the first time he applied.

7) Buffett spent $100 to take a Dale Carnegie course on public speaking.

8) His house is a humble five-bedroom in Omaha, Nebraska that he bought in 1956 for $31,500.

9) Buffett doesn’t keep a computer on his desk, and he chooses to use a flip phone rather than a smartphone.

10) In fact, he’s only sent one email in his life, to Jeff Raikes of Microsoft.

11) His distance from technology leaves him time for bridge, which he plays about 12 hours a week.

12) He spends 80% of his day reading.

13) He drinks an alarming amount of Coca-Cola each day.

14) 99% of Buffett’s wealth was earned after his 50th birthday.

15) Among investing legends, Buffett has the longest track record for beating the market.

16) $1,000 invested in Buffett’s Berkshire Hathaway stock in 1964, when Buffett took over the company and shares cost just $19, would be worth about $11.6 million dollars today.

17) Buffett’s net worth is greater than the GDP of Uruguay.

18) Buffett has so far donated enough money in his lifetime to build four Apple ‘Spaceship’ Campuses, which are $5 billion endeavors.

19) In 2013, Buffett made on average $37 million per DAY — that’s more than what Jennifer Lawrence made the entire year.

20) The multi-billionaire reportedly earns only $100,000 a year at Berkshire Hathaway — and spends it frugally

21) People are so fascinated with the legendary Buffett that they’ll spend millions of dollars to eat lunch with him.

22)  He doesn’t think money equals success: ‘I measure success by how many people love me. And the best way to be loved is to be lovable.’ 

12 guidelines from Warren Buffett
1. Invest wisely.
Buffett chooses to invest in ideas, not the people behind them. He once famously said that he chooses companies that are so wonderful, even an idiot could run them, mentioning the likelihood that someday one will.
2. Don’t forget your roots.
When he was in high school, Buffett landed a job delivering papers for The Washington Post. He has extended that early job into a lifelong relationship with the newspaper, with his company serving as its largest shareholder.
3. Live below your means.
Despite a net worth of $39 billion, Buffett lives in a surprisingly modest home . He bought the Omaha, Nebraska, house for $31,500 in 1958 and today he calls it the best investment he ever made. Instead of risking bankruptcy by spending every dime he makes, Buffett has chosen to live frugally and reap the rewards.
4. Save first, spend second.
Many people save what is left over each month after paying bills and making purchases. Buffett recommends instead that you set a certain amount of money aside each month for savings, then spend the amount that is left.
5. Research your investments.
Buffett advises carefully researching stocks before putting money into them. After thorough research, an investor shouldn’t be afraid to invest generously in a stock that has proved to be a strong one.
6. Hone your speaking skills.
In the early days of his career, Buffett was terrified of public speaking. Recognizing that it would be necessary to achieving his goals, he enrolled in a renowned course taught by Dale Carnegie. Today, he regularly tells young entrepreneurs that the ability to communicate effectively is essential to success.
7. Protect your reputation.
Money comes and goes but damage to a person’s reputation is irreversible. Buffett emphasizes the importance of protecting the reputation of both yourself and your business.
8. Keep good company.
Parents frequently warn their children that they will be judged by the company they keep. He advises professionals to hang out with people who are better than they are, saying that by doing so, it will inspire them to be better.
9. Resist fads.
You won’t see Buffett investing in trendy stocks like social media sites and hot technology. While sites like Facebook may be hot today, Buffett’s issue is that there’s no way to know that they’ll be just as hot five years down the line.
10. Minimize meetings.
Instead of regular meetings, Buffett chooses to send a letter each year to each of his companies. The letter outlines his goals for the year and celebrates the past year’s successes. He avoids bogging his companies down with long meetings and unnecessary phone calls, instead letting his workers spend their time doing their jobs.
11. Don’t give up.
When Buffett purchased Berkshire Hathaway, it was a failing textile firm, specializing in lining for men’s suits. Buffett saw promise, however, noticing price patterns connected to the company’s mill closings. Through his leadership, the company was able to grow to a multinational conglomerate.
12. Enjoy your work.
Buffett has expressed disbelief at the fact that people take successive jobs they dislike to advance their careers. He believes life is too short and we should all spend our time and effort on work we love.
Warren Buffett serves as proof that when a professional has the right goals in place, he can accomplish anything. Through carefully researching his life, professionals can learn lessons that will help them as they build their own businesses and invest their earnings.

-Prasannapugazh

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Secret of Sucess

Ten Most Important Attitudes for Success by Elon Musk

Never Give Up

Elon faced two continuous failures in an attempt to send rockets to space which were worth $90 Mn in total. Despite of that the man does not give up and continued with the third successful attempt. ‘I don’t ever give up. I’d have to be dead or completely incapacitated.”

Really Like What You Do

Whatever area that you get into, even if you are the best of the best, there are chances of failures. It is really important that you like what you are doing, because the thoughts will then keep you busy, even if you are not working. If you don’t like it, than I think you will not be able to make it than.

Don’t Listen To The #Little Man

When you start, you get all kinds of advices, both positive and negative, from all around you. One should not give head to such things and should continue trying and be happy about it.

Take A Risk

As you grow old your obligations increase and it becomes much harder to take risks then. So now is the time to do that. “Take risks now. Do something bold.”

Do Something Important

If something is important to you and humanity, you should go and give it a try because its worth it.

Focus On Signal Over Noise

A lot of companies get confused and focus on things which really do not make the product better. “At Tesla, we never spent any money on advertising. We put all the money into R+D, and manufacturing and design to try to make the car as good as possible.” For any given company, they should just keep thinking about, are these efforts that we are spending on are resulting in a better product or a service. If they are not, stop those efforts.

Look For Problem Solvers

Anyone who has struggled hard with the problem will know the inside and out of it completely. While interviewing someone for the company, one should always look for problem solvers, those who have faced problems and has come up with a solution themselves.

Attract Great People

It is a mistake to hire huge numbers of people to get a complicated job done. Numbers will never compensate for talent in getting the right answer. Two people who don’t know something are no better than one, and will tend to slow down progress, and will make the task incredibly expensive. A company is a group of people gathered to create a product or service. Depending upon how talented and hardworking that group is, and the degree to which they’re focused cohesively in a good direction, that will determine the success of the company. So do everything you can to gather great people if you’re creating a company.

Have A Great Product

You must stay very focused on the quality of the product. People get really wrapped up in all sorts of esoteric notions of how to manage etc., but people should get much more focused on the product itself – how do you make the product incredibly compelling to a customer – just become maniacally focused on building it better. “I think people get distracted from that.”

Work Super Hard

Work like hell. “I mean you just have to put in 80 to 100 hour weeks every week. This improves the odds of success.” If other people are putting in 40 hour work weeks and you’re putting in 100 hour work weeks, then even if you’re doing the same thing you know that… you will achieve in four months what it takes them a year to achieve.

I’ll keep my dream

One day a boy was asked to write a paper about what he wanted to be and do when he grew up.

“That night he wrote a seven-page paper describing his goal of someday owning a horse ranch. He wrote about his dream in great detail and he even drew a diagram of a 200-acre ranch, showing the location of all the buildings, the stables and the track. Then he drew a detailed floor plan for a 4,000-square-foot house that would sit on a 200-acre dream ranch.

“He put a great deal of his heart into the project and the next day he handed it in to his teacher. Two days later he received his paper back. On the front page was a large red F with a note that read, `See me after class.’

“The boy with the dream went to see the teacher after class and asked, `Why did I receive an F?’
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“The teacher said, `This is an unrealistic dream for a young boy like you. You have no money. You come from an itinerant family. You have no resources. Owning a horse ranch requires a lot of money. You have to buy the land. You have to pay for the original breeding stock and later you’ll have to pay large stud fees. There’s no way you could ever do it.’ Then the teacher added, `If you will rewrite this paper with a more realistic goal, I will reconsider your grade.’

“The boy went home and thought about it long and hard. He asked his father what he should do. His father said, `Look, son, you have to make up your own mind on this. However, I think it is a very important decision for you.’ “Finally, after sitting with it for a week, the boy turned in the same paper, making no changes at all.

He stated, “You can keep the F and I’ll keep my dream.”

Think Well; Think Better; Think Best

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Are you struggling for a victory, failure occurring again again?
Wow, it’s Okay. Yes really it’s okay.

Oftentimes things go OK or even better than that.
But on some days they don’t.
You make a mistake, have setback or you simply fail. It’s no fun. But you can’t avoid it either unless you avoid doing anything at all.
So what’s needed is a smart and self-kind way to handle such situations instead of letting them lead to vicious self-beatings and to them dragging you down into negativity for the day or month.
This week I’d like to share 9 habits that’ve helped me with that. I hope they will be useful for you too.

1. First, just accept how you feel.
When you’ve just failed it will most likely hurt. Sometimes a bit. Sometimes a lot.
That’s OK. Don’t try to push it away by distracting yourself or by trying to push the responsibility onto the rest of the world (if you deep down know that this one’s on you partly or fully). And don’t try to paint it over with a smile.
I’ve found that it works better to not let yourself be lead away by those options or impulses.
But to just be with what I’m thinking and feeling. To try to accept it, to let it in and to hurt for a while instead of trying to reject it all and to keep it away.
Because when you let it in and accept it then it will go faster and in the long run be less painful to process what has happened.
If you reject how you really feel then those emotions will pop up at unexpected times later on and can make you moody, pessimistic, angry or sad.

2. Remember: you’re not a failure just because you had a setback.
When you’ve had a setback it’s very easy to start thinking that you will always keep failing in this area of your life. It’s easy to start thinking that YOU are indeed a failure.
Don’t fall for such a destructive and sometimes seductive self-fulfilling prophecy.
Instead, remind yourself that:
Just because you failed today or yesterday doesn’t mean that you’ll fail the next time.
The truth is that this won’t last for the rest of your life if you keep moving forward, if you take action and you keep learning and it doesn’t label you as some kind of failure (except if you decide to create that label in your own head).
Seeing what’s negative as a temporary thing instead of something permanent is an essential key to an optimistic attitude and to keep going forward in life.

3. Be constructive and learn from this situation.
See it more as valuable feedback and something you can use to improve rather than only a big blow and setback.
I’ve found that the simplest and most helpful way to do that is to ask myself better questions (instead of the common ones that send you off into a negative spiral).
The important thing is to start thinking about the situation from this perspective and to be constructive about things instead of getting stuck in denial or negativity and apathy.

4. Remind yourself: anyone who wants to do things of value in life will fail.
We often mostly just hear about people’s successes. But the path to those milestones tends to have many setbacks. The story of someone’s success may seem only bright and fast-moving in what’s told in the media or we see in our minds.
But the reality – and the useful way to approach setbacks – is most often more like this quote by Michael Jordan:
“I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”

5. Let it out into the light.
Another powerful way to handle the emotional fallout and the thoughts that come from a failure is to not keep it all bottled up inside.
But to let it out into the light by talking it over with someone close to you.
By venting about it while the other person just listens you can sort things out for yourself, help yourself to accept what happened instead of pushing it away and release that inner pressure.
By having a conversation about the situation you can see it from another perspective and through someone else’s eyes. This person can help you to ground yourself in reality again, to encourage and to perhaps even to find a way forward.

6. Find inspiration and support from your world.
A conversation with someone close to you can be very helpful.
Another thing you can do is to learn from those who’ve gone where you want to go. Read about how they handled setbacks and low-points before or during their success in books, on websites or online forums.
Or you can simply tap into the enthusiasm or motivation of someone else by listening to a podcast or audio book for maybe 30-60 minutes. This may not be specifically about your current challenge but can help you to shift your mood and mindset back towards optimism again.

7. Move forward again, don’t get stuck in mulling this situation over for too long.
Processing the situation and accepting it is essential.
But I know from experience that it’s also easy to get stuck in the same thoughts going around and around for week or a month.
The habit that has helped me with this trap is to take what I learn from questions like the ones I shared in tip #3 and to make a small rough plan for how I want to move forward from here.
So I take some time to sit down and write that one out.

8. Take action on that plan right away after you’ve drawn it up.
The plan you come up with will just be a start. You can course-correct later on, along the way.
So you don’t have to make it perfect. Trying to do that can sometimes just be a way to procrastinate because you fear failing again or because it is hard to start moving after this rough and disorienting thing that happened to you.
Split your start of a plan up into small steps and then take action on just one of them.
If you still have a hard time to get going then go for a very small step, just 1-5 minutes of action forward. The important thing is to get started and moving forward again so make that easy on yourself.

9. Improve your self-esteem.
A last thing that has helped me in general to handle setbacks is t improve my self-esteem .
By doing so failures don’t become something that so easily drags me down and I recover more quickly from them.

It also makes it easier to see what happened with more clarity and to take responsibility when I am responsible but also to see when someone else is partly responsible or when I just had bad luck that I could honestly not have predicted. And that helps me to not think that everything that goes wrong in my life is 100% my fault.
But how do you improve your self-esteem?

A good start would be to use much of what you find in this article. Like remembering that YOU are not a failure, that everyone have setbacks, to be constructive in the face of adversity and so on.

By doing these things over and over and making them habits your self-esteem improves.
And over time a smaller setback may just bounce off of you and a larger one will not be the same blow as it used to and the shock and climb back up from what happened becomes easier and not something that is as paralyzing anymore.

-Prasannapugazh

I Love Failure

Do you feel that you’re failing in life comparing to people around you?

If you lack the reasons to move on with your life, read this inspiring story. This is a story of two guys – Ricky and Antony, both graduated from the same college…

Ricky got a job paying $80000,

Antony could not find anything.

Ricky got the chicks, Antony was celibate.

Ricky went to parties every day,

Antony was wasting his 20s.

Ricky got promoted, Antony was a waiter.

Ricky invested in shares, Antony hardly earned enough to invest.

Ricky lost everything in shares,

Antony found the love of his life.
Ricky was deserted by all the girls, Antony got married.

Ricky was broke, Antony built a house.

Ricky had no sex, Antony made love every day.

Ricky desperately wanted to get married, Antony was soon to be a father.

Ricky resorted to drugs, Antony resorted to his children.

Ricky lost everything, Antony found everything.

Everyone fails in life; not just at the same time or in the same things. But don’t you give up.
Don’t be afraid to fail. Don’t waste energy trying to cover up failure.

Learn from your failures and go on to the next challenge. It’s OK to fail.

If you’re not failing, you’re not growing. – H. Stanley Judd

Right, just fight hard because
success tastes much sweeter after failure.

-Prasannapugazh

Give Up! If you wanna Succeed

Success means something different to every person: like beauty, it exists in the eye of the beholder.  It is your responsibility to determine what success means for you, and how you go about breeding success in your life.

Despite this, there are definitely hindrances to success. These drawbacks are ubiquitous in their ability to deter your success. But don’t fret because if you seek success, and you fear your actions are blocking your desire for success, you have the power and control to overcome the following obstacles.

1. Making Excuses

Stop blaming other people for why you don’t get what you want. Stop refusing to accept responsibility for your mistakes. You make your own choices and you make your own mistakes.In general, stop justifying your poor choices and stop attributing your lack of success to things outside of your control. Successful people don’t do this.

You are going to err. You are going to fail. When this inevitably occurs look within, in a non-judgmental manner, and figure out what you can do better next time. Don’t waste time looking externally by creating excuses for why you didn’t achieve success.

2. Focusing on the Negatives

Yes, there are negative circumstances in life that you have no control over. There are also plenty of positive experiences in your life. I am willing to bet you have more positives in your life than negatives. You are capable of living with a positive perspective. If you want to cultivate success in your life than you need to concentrate on all the good. You shouldn’t disregard the negative, but you don’t have to give it so much of your attention. Otherwise you are never going to be satisfied because you are so focused on the unfavorable conditions of your life. Even if you reach a level of ostensible success, your continued focus on the negatives will prevent you from relishing your accomplishments.

3. Fearing Failure

As I previously stated, YOU ARE GOING TO FAIL! There is no reason to fear it. Rather, you should embrace it. Learn from it, and ultimately improve from it.

When you are successful you know you are always trying your best. When you fail it is not a reflection of you as a person; you are not a flawed individual. View failure as an opportunity to grow, not as something to be feared.

4. Looking for the Easy Way

I want to preface by stating that attaining success isn’t supposed to be an improbable venture where you have to overcome a certain amount of adversity and hardship. I am opining that successful people don’t look for the easy way through life.

Merely strolling through life on cruise control is not the blueprint for success. You need to challenge yourself at times. Push yourself and stretch your limits. Aim to reach your maximum potential, and then go beyond that. That is a success in itself.

5. Beating Yourself Up

You wouldn’t ever beat yourself up physically so why would you do it emotionally and mentally? Learning how to skillfully deal with your thoughts and emotions when you are facing adverse situations is crucial to being successful.

Get upset over things. Express your emotions in an appropriate manner. Be unhappy from time to time. It is going to happen. But don’t ruminate over unpleasant memories and beat yourself up over things that already occurred. Too much time and energy spent on this diverts your attention away from more important endeavors like progressing toward your goals.

6. Being Ungrateful

The best way to establish more contentment in your life is to be more grateful. If you want to push away happiness, joy, and bliss than be ungrateful. Gratitude breeds happiness but it also breeds success. If you are grateful for your life and everything that comprises it you are going to have a less complicated time attaining wealth and accomplishing your goals.

I don’t just mean financial wealth because wealth includes all kinds of valuables. I am not proposing that all financially wealthy people are grateful, and therefore, successful, or that all financially poor people are ungrateful, and therefore unsuccessful.

Being ungrateful is not congruent with getting ahead in life. If you crave success than observe everything you are grateful for. Your gratitude will serve as a compass for your life. It will guide your decision-making, and lead you to success.

7. Concentrating Solely on Your Needs

Hopefully this goes without saying but focusing only on yourself is not going to help you attain success. You could be the wealthiest person on the planet, and it is apparent that you are extremely successful. If you accrued your wealth by taking advantage of people, or by being selfish and egotistical, you are not successful in my book. You probably wouldn’t be very happy either. The best way to succeed in life is by helping someone else!

8. Getting Distracted

You were going to start your book but…You were going to launch your dream business idea but…You were going to travel through Asia but…
I get it. Things come up. Life takes you on a different course. It happens sometimes. But don’t allow yourself to become distracted from realizing your dreams. When distractions obstruct you from your passions than you are moving further and further away from claiming your ultimate successes.

This starts with your daily life. It is fun and often necessary to log onto Facebook and check emails, but don’t allow the modern technological age to prevent you from the work that needs to be finished today. Success is based on working toward your goals while not letting disruptions hinder that.

9. Living Aimlessly

It is your responsibility to ascertain your life goals and objectives. Being successful means you are fulfilling your life’s purpose every day.
Whether your purpose is super ambitious such as solving world hunger or more feasible like being happy, doesn’t matter. The point is that you are aiming to be the best you can be. Steadily wandering through life without any ambitions or without contributing anything to society is not what successful people do.

10. Giving Up

When you face an improbable obstacle in life how do you respond? Do you give up, or do you keep pressing on? Successful people don’t give up. They commit themselves to reaching their final destination. They may not ever get there, but they don’t allow impediments to prevent them from trying. This means continuing on despite failures and disappointments.

Success encompasses a lot of different arenas. What works for financial success may not translate into relationship success. Being successful as an athlete doesn’t necessarily make you successful as a student as well. There are varying degrees of success depending on what situation you are in.

Regardless, the fundamental backbone of success is trying your best. If you put forth your best effort, without harming others in the process, than you are a successful person. This can apply to work, family, friends, relationships, hobbies, etc. As the late great John Wooden said, “Success is peace of mind which is a direct result of self-satisfaction in knowing you did your best to become the best you are capable of becoming.” I think that sums it up beautifully.

Set a goal for yourself

“Time is limited. If I can make good use of it, I’ll be much more successful. So I’m going to be more productive.”