Books 01 (May 08 - Oct 08)

[ishak]

The 7 Habits of Highly Effective People
Powerful Lessons in Personal Change
by Stephen R. Covey

Key Message
• Focus on developing character, not personality.
• You are what you habitually do, so adopt productive habits.
• Excellence is a habit, not an aptitude.
• You are free because you can determine how you respond to circumstances.
• Choose sound principles and live by them: integrity, dignity, quality, service, patience, perseverance, caring, courage.
• Write a personal mission statement to clarify your principles and set your goals.
• Think of what you want people to say about you at your funeral and try to deserve it.
• Build trust in your relationships.
• Balance the attention you give to each of your roles. Allot time to each of your responsibilities and relationships.
• Understand that you have the ability to improve your habits and your life.
• Habit 1. They take initiative. (“Be Proactive”)
• Habit 2. They focus on goals. (“Begin with the End in Mind”)
• Habit 3. They set priorities. (“Put First Things First”)
• Habit 4. They only win when others win. (“Think Win/Win”)
• Habit 5. They communicate. (“Seek First to Understand, Then to Be Understood”)
• Habit 6. They cooperate. (“Synergize”)
• Habit 7. They reflect on and repair their deficiencies. (“Sharpen the Saw”)

One of my favourites, highly recommended to read as the 7 habits are deeper than they sound.

[kennynah]

i think he has already published 8 Habits...and I suppose,...

The 9th Habit shall be : Always Buy Stephen Covey Books.

[ishak]

The 8th habit is not so good. The basic message is that you must find your own voice and inspire others to find their own as well.

Some of his books are quite good, 7 habits, First Thing First and Principle Centered Leadership.

[kennynah]

read 2 of the 3 you posted... imo, very inspirational, but only theoretically...hahaha...

[ishak]

Sure, he writes theories to sell, and we absorb what we think are useful to us personally. If we all can have perfect execution to theory, trading would be much easier.

[kennynah]

agree...he's a terrific salesman...and that's how i see all of the inspirational writers... the likes of robbins, covey, kiyosaki, mitsubishi, toyota, honda, kawasaki, and whoever else.

[ishak]

Investment Psychology Explained
Classic Strategies to Beat the Markets
by Martin J. Pring

Key Message in Chapter 12
• Rule 1. When in Doubt, Stay Out
• Rule 2. Never Trade or Invest Based on Hope
• Rule 3. Act on Your Own Judgment or Else Absolutely and Entirely on the Judgment of Another
• Rule 4. Buy Low (into Weakness), Seil High (into Strength)
• Rule 5. Don't Overtrade
• Rule 6. After a Successful and Profitable Campaign, Take a Trading Vacation
• Rule 7. Take a Periodic Mental Inventory to See How You Are Doing
• Rule 8. Constantly Analyse Your Mistakes
• Rule 9. Don't Jump the Gun
• Rule 10. Don't Try to Call Every Market Turn
• Rule 11. Never Enter into a Position without First Establishing a Risk Reward
• Rule 12. Cut Losses, Let Profits Run
• Rule 13. Place Numerous Small Bets on Low-Risk Ideas
• Rule 14. Look Down, Not Up (assess your potential loss not your potential gain)
• Rule 15. Never Trade or Invest More Than You Can Reasonably Afford to Lose
• Rule 16. Don't Fight the Trend
• Rule 17. Wherever Possible, Trade Liquid Markets
• Rule 18. Never Meet a Margin Call
• Rule 19. If You Are Going to Place a Stop, Put It at a Logical, Not Convenient, Place

[millionairemind]

Just finished reading the book - The Richest Man Who Ever Lived: King Solomon's secrets to success, wealth and happiness by Steven Scott.

When Steve was down and out 30yrs ago, he was advised by a friend to read The Book of Poverbs. That helped to turn his life around and millions of dollars later, he is a firm believer.

The Richest Man isn't much different than other personal success books. Create a vision, make a plan, work the plan, and try to avoid pitfalls that commonly trip us up on our way to a better life. Nevertheless, there are a few pointers that jump out.

Steve strongly emphasizes partnering, whether it's an informal mentor-mentee partnership or a real business partnership, in order to gain wisdom and perspectives no one person can have, and also to have someone to help shoulder the risk. He also stresses the need for diligence, to overcome adversity or just plain laziness by consistently plowing ahead - it appears Solomon was already saying "Just Do It" many centuries ago.

It is not a bad read. Alot of wisdom to be found in ancient teachings

[millionairemind]

BTW, the book When Markets Collide by Mohamed El-Erian is in the process of being released to your local library. I just reserved my copy. You might want to reserve a copy before it is gone

[winston]

Just finished reading the book - The Richest Man Who Ever Lived: King Solomon's secrets to success, wealth and happiness by Steven Scott.

Yes, quite a nice book