Books 02 (Nov 08 - Nov 09)

Books 02 (Nov 08 - Nov 09)

Postby millionairemind » Wed Nov 12, 2008 9:24 pm

Just completed a book How To Stop Worrying and Start Living by Dale Carnegie.

You may remember him from his groundbreaking book How to Win Friends and Influence People. I strongly encourage every1 to read the Friends book. If only everybody learn the way to interact with fellow beings, our life would be much more peaceful and happier ;)

I enjoyed the Worry book. I picked it up because I have seen in on the shelf several times and I have read the FRIENDS book a decade ago. Worry book details practical steps on how to conquer your worries if you are a worrywart. I used to worry alot when I was a teenager. I guess that might have stemmed from my teenage angst and insecurity... Being too tall and thin (and poor) did not help things.. :lol:

As I get older and more confident, I noticed I don't worry as much and very often, not at all. There is really nothing to worry about if you know that you might go to bed one night and not wake up tomorrow... so cherish your moments by not spending them on worrying ;)

For those worry warts out there, I encourage you to read this book. It might just help you. ;)

Part One
Fundamental facts you should know about worry
1. If you want to avoid worry, do what Sir William Osler did: Live in "day-tight compartments." Don't stew about the futures. Just live each day u ntil bedtime.
2. The next time Trouble--with a Capital T--backs you up in a corner, try the magic formula of Willis H. Carrier:
3. Ask yourself, "What is the worst that can possibly happen if I can't solve my problem?
4. Prepare yourself mentally to accept the worst--if necessary.
5. Then calmly try to improve upon the worst--which you have already mentally agreed to accept.
6. Remind yourself of the exorbitant price you can pay for worry in terms of your health. "Those who do not know how to fight worry die young."

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Part Two
Basic techniques in analyzing worry

1. Get the facts. Remember that Dean Hawkes of Columbia University said that "half the worry in the world is caused by people trying to make decisions before they have sufficient knowledge on which to base a decision."
2. After carefully weighing all the facts, come to a decision.
3. Once a decision is carefully reached, act! Get busy carrying out your decision--and dismiss all anxiety about the outcome.
4. When you, or any of your associates, are tempted to worry about a problem, write out and answer the following questions:
- What is the problem?
- What is the cause of the problem?
- What are all possible solutions?
- What is the best solution?

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Part Three
How to break the worry habit before it breaks you

1. Crowd worry out of your mind by keeping busy. Plenty of action is one of the best therapies ever devised for curing "wibber gibbers."
2. Don't fuss about trifles. Don't permit little things--the mere termites of life--to ruin your happines.
3. Use the law of averages to outlaw your worries. Ask yourself: "What are the odds against this thing's happening at all?"
4. Co-operate with the inevitable. If you know a circumstance is beyond your power to change or revise, say to yourself: "It is so; it cannot be otherwise."
5. Put a "stop-less" order on your worries. Decide just how much anxiety a thing may be worth--and refuse to give it anymore.
6. Let the past bury its dead. Don't saw sawdust.

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Part Four
Seven ways to cultivate a mental attitude that will bring you peace and happiness

1. Let's fill our minds with thoughts of peace, courage, health, and hope, for "our life is what our thoughts make it."
2. Let's never try to get even with our enemies, because if we do we will hurt ourselves far more than we hurt them. Let's do as General Eisenhower does: let's never waste a minute thinking about people we don't like.

3a. Instead of worrying about ingratitude, let's expect it. Let's remember that Jesus healed ten lepers in one day--and only one thanked Him. Why should we expect more gratitude than Jesus got?
b. Let's remember that the only way to find happiness is not to expect gratitude--but to give for the joy of giving.
c. Let's remember that gratitude is a "cultivated" trait; so if we want our children to be grateful, we must train them to be grateful.
4. Count your blessings--not your troubles!
5. Let's not imitate others. Let's find ourselves and be ourselves, for "envy is ignorance" and "imitation is suicide."
6. When fate hands us a lemon, let's try to make a lemonade.
7. Let's forget our own unhappiness--by trying to create a little happiness for others. "When you are good to others, you are best to yourself."

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Part Five
The perfect way to conquer worry

Prayer

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Part Six
How to keep from worrying about criticism

1. Unjust criticism is often a disguised compliment. It often means that you have aroused jealousy and envy. Remember that no one ever kicks a dead dog.
2. Do the very best you can; and then put up your old umbrella and keep the rain of criticism from running down the back of your neck.
3. Let's keep a record of the fool things we have done and criticize ourselves. Since we can't hope to be perfect, let's do what E.H. Little did: let's ask for unbiased, helpful, constructive criticism.

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Part Seven
Six ways to prevent fatigue and worry and keep your energy and spirits high

1. Rest before you get tired.
2. Learn to relax at your work.
3. Learn to relax at home.
4. Apply these four good workings habits:
5. Clear your desk of all papers except those relating to the immediate problem at hand.
6. Do things in the order of their importance.
7. When you face a problem, solve it then and there if you have the facts to make a decision.
8. Learn to organize, deputize, and supervise.
9. To prevent worry and fatigue, put enthusiasm into your work.
10. Remember, no one was ever killed by lack of sleep. It is worrying about insomnia that does the damage--not the insomnia.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Books

Postby iam802 » Wed Nov 12, 2008 9:31 pm

3. Ask yourself, "What is the worst that can possibly happen if I can't solve my problem?


This is often the best to push yourself to take action (at least for me).

Eg 1.
What if I lose money if I take this trade?

-- Well, worst case, I lose money and is still as poor as I am before. Nothing has change. So, is that what I want? No change?

Eg 2.
If you are in sales and need to make cold calls. Most people doing it will be afraid when they are doing it the first time.

And the easy way is to ask yourself, "What is the worst that they can say to you on the phone? NO ?"

And how is 'NO' different from now? Still NO SALE done

So, which is worse ? A 'NO' or a possible 'YES' :)
1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

TA and Options stuffs on InvestIdeas:
The Ichimoku Thread | Option Strategies Thread | Japanese Candlesticks Thread
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Re: Books

Postby kennynah » Thu Nov 13, 2008 3:52 am

802 : u lost me here ....wat's your angle?
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Re: Books

Postby blid2def » Thu Nov 13, 2008 6:25 am

I think he means:

不赌不知时运高,
不嫖不知身体好.
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Re: Books

Postby la papillion » Thu Nov 13, 2008 12:34 pm

Hey mm, good guide you have there :)
An investment operation is one which, upon thorough analysis promises safety of principal and an adequate return - Benjamin Graham
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Re: Books

Postby kennynah » Thu Nov 13, 2008 4:02 pm

grandrake wrote:I think he means:

不赌不知时运高,
不嫖不知身体好.


hahahaha.....
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Re: Books (Nov 08 - Jan 09)

Postby millionairemind » Tue Nov 18, 2008 6:02 pm

Just finished reading an easy to read book The Law of Attraction by Mike Losier.

Law of attraction for is split into 3 steps
1. Identify your desire
2. Give your desire attention (focus)
3. Allow it

I think the Allow It part is the most difficult in LOA. The book gives pretty good exercises on how to Allow such as the following:
1. Celebrate the proof
2. Record proof of LOA
3. Make youself an attraction box..etc..etc..

This book was released a few years prior to The Secret and the author did give Esther and Jerry Hicks due credit for their ground breaking book The Law of Attraction - The Secret Teaching of Abraham.

Easy to read and digest...with follow up exercises :)

Available at the NLB.

Currently trying to finish up on Hot, Flat and Crowded by Tom Friedman and StreetSmart Guide to Timing The Stock Mkt by Colin Alexander.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Books (Nov 08 - Jan 09)

Postby kennynah » Tue Nov 18, 2008 8:43 pm

been a while since i read a book....lazy.... suddenly today, had the urge...went to NLB borrowed 4 books...

my choices :

a) The Options Doctor - Jeeanette Shwarz Young
(a female author) published in 2007...so a relatively new release
i specifically chose this because it is a female writer on investment using options. it is not a difficult book to digest and it offers several examples using different underlying such as stocks, futures and commodities. there are several strategies involving hedging principals. She also touched on the Greeks concisely as well.

b) Getting Started with Options - Michael C. Thomsett (7th edition). As the title implies, it is a great way for novices to get some theoretical knowledge of Options Trading. For the more experienced, it is a reminder that basics are important and must be revised constantly.

c) The Biotech Age - Richard W. Oliver
... I wanted to have a comprehensive idea of how biotech business is conducted in america. The process by which biotech firms get their drugs approved by FDA and timeline involved. It is my first reading of any biotech industry book and so, i chose this book for its apparently easy reading.

d) Mastering The Trade - John F. Carter.. This book is all about how technicians should approach trading methodically. It highlights the various considerations going into opening and/or closing trade positions. Again, this is about fundamentals of trading and should be useful as a reminder on principals of risk/reward.
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Re: Books (Nov 08 - Jan 09)

Postby millionairemind » Fri Nov 21, 2008 2:25 pm

Just finished reading Tom Friedman's latest book - Hot, Flat and Crowded

Here is a book summary I found on the web.

Hidden Content:
In Hot, Flat, and Crowded, Thomas Friedman Calls for a Green Energy Revolution
By Garrett M. Graff 08.18.08

Thomas Friedman is about to dive into the green-tech fray. In his latest book, Hot, Flat, and Crowded, the multi-Pulitzer-winning journalist says everyone needs to accept that oil will never be cheap again and that wasteful, polluting technologies cannot be tolerated. The last big innovation in energy production, he observes, was nuclear power half a century ago; since then the field has stagnated. "Do you know any industry in this country whose last major breakthrough was in 1955?" Friedman asks. According to the book, US pet food companies spent more on R&D last year than US utilities did. "The Stone Age didn't end because we ran out of stone," he says. Likewise, the climate-destroying fossil-fuel age will end only if we invent our way out of it.

But he's not suggesting a new Manhattan Project. "Twelve guys and gals going off to Los Alamos won't solve this problem," Friedman says. "We need 100,000 people in 100,000 garages trying 100,000 things — in the hope that five of them break through."

Our current efforts are not only inadequate, they're hopelessly haphazard and piecemeal. Friedman argues it'll take a coordinated, top-to-bottom approach, from the White House to corporations to consumers. "Without a systems approach, what do you end up with?" he asks. "Corn ethanol in Iowa."

The New York Times columnist, who keeps up a punishing travel schedule, is just back from the Middle East and London. "If you don't go, you don't know," he says. Such wanderings provided the material for his 2005 best seller, The World Is Flat. Now he has added two new terms to his diagnosis of global ills: the intertwined problems of climate change and population growth — "too many carbon copies," as he puts it.

In this new world, governments and companies that take the lead will find themselves with the single most valuable competitive advantage of our time.

To illustrate, Friedman tells the story of a Marine Corps general in Iraq who requested solar panels to power his bases. Asked why, he explained that he wanted to win his region by "out-greening al Qaeda." Instead of trucking in gas from Kuwait at $20 a gallon — money that fuels oppressive petro-dictatorships — in convoys that are vulnerable to roadside bombs, why not beat the insurgents by taking away their targets and their funding?

Coming out months before the presidential election, Crowded is sure to bigfoot its way into the campaign. "McCain and Obama come from the right side of this debate," Friedman says. "They have the right instincts, but neither is quite there yet. They haven't yet thought it through fully." The battle over "green," he believes, will define the early 21st century just as the battle over "red" (Communism) defined the last half of the 20th.


I enjoyed the book (about 400pages thick). So far, I have enjoyed all of Tom's books like The World is Flat, From Beirut to Jerusalem and Lexus and the Olive Tree. He narrates with short stories about the ppe. he meets to weave together the main theme on the book.. that American needs a green revolution to lead the world, again.

He laments about the political infighting in America and the lack of leadership from Bush.

A large chunk of his book is carefully researched and back with facts and figures so it is certainly an eye-opener. The first part of his book talks about the damage to the environment and one can get a little pessimistic after reading it.

Available from NLB.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
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Re: Books (Nov 08 - Jan 09)

Postby helios » Fri Nov 21, 2008 9:44 pm

kennynah wrote:c) The Biotech Age - Richard W. Oliver[/b] ... I wanted to have a comprehensive idea of how biotech business is conducted in america. The process by which biotech firms get their drugs approved by FDA and timeline involved. It is my first reading of any biotech industry book and so, i chose this book for its apparently easy reading.


for the sake of all readers and forumers, Ken ge is never lazy, he is always on the ball ... ha ha ... check his clock-in hours, you will know ...

The Biotech Age looks great, i'll pick it up .. thanks for the note.
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