Procrastination vs DoItNow

Real procrastinators tell themselves five lies

• They overestimate the time they have left to perform tasks.

• They underestimate the time it takes to complete tasks.

• They overestimate how motivated they will feel the next day, the next week, the next month -- whenever they are putting things off to.

• They mistakenly think that succeeding at a task requires that they feel like doing it.

• They mistakenly believe that working when not in the mood is suboptimal.

Dr. Ferrari recommends these strategies for reducing procrastination

1. Make a list of everything you have to do.

2. Write a statement of intention.

3. Set realistic goals.

4. Break it down into specific tasks.

5. Make your task meaningful.

6. Promise yourself a reward.

7. Eliminate tasks you never plan to do. Be honest!

8. Estimate the amount of time you think it will take you to complete a task. Then increase the amount by 100%.

Do it Now Tips

Energize your priority efforts by addressing the most important first.

Move yourself toward achieving productive outcomes.

Operate by keeping your focus on long-term advantages.

Tolerate-but don't give in to-emotional signals for needless delays.

Integrate realistic thinking with self-regulated actions to achieve stated objectives.

Overcome diversionary unstated agenda urges by "do it now" actions.

Nudge yourself in the direction of Y decisions that lead to productive results.

ref:

http://www.psychologytoday.com/blog/science-and-sensibility/201003/emotions-decision-making-and-procrastination

Endowment Insurance vs Term Insurance

There are 3 main types of insurances

1. Endowment Policies [With money back ]
2. Term Policies [Without money back]
3. ULIP type

Term insurance
- this is a fixed term insurance .. say 20 yrs, 25 yrs etc
- it gives protection, but no investment, no cash value at maturity
- high protection, low saving.

Endowment insurance
- this is also a fixed term insurance - 18 yrs, 30 yrs etc
- it gives minimum protection, but higher cash value and savings
- this is more for retirement saving or education fund saving.
- at maturity you get a maturity value normally more than the money you put in

ref:

Term vs Endowment Insurance -

http://thedragonflypage.blogspot.com/2007/11/term-vs-endowment-insurance-policies.html

http://www.investmoneybetter.com/2010/01/term-insurance-vs-endowment-insurance.html

Is ULIP a good investment -

http://blog.investraction.com/2005/11/ulips-good-investment.html

Psychologist Quotes

The greatest power that a person possesses is the power to choose - J. Martin Kohe

Our lives are a sum total of the choices we have made - Wayne Dyer

One extends one's limits only by exceeding them - M. Scott Peck

Until you value yourself, you won't value your time. Until you value your time, you will not do anything with it - M. Scott Peck

If you want to truly understand something, try to change it - Kurt Lewin

If you only have a hammer, you tend to see every problem as a nail - Abraham Maslow

A failure is not always a mistake, it may simply be the best one can do under the circumstances. The real mistake is to stop trying - B. F. Skinner

The curious paradox is that when I accept myself just as I am, then I can change - Carl Rogers

We shouldn't teach great books; we should teach a love of reading - B. F. Skinner

I see happiness as a by-product. I don't think you can pursue happiness. I think that phrase is one of the very few mistakes the Founding Fathers made - James Hillman

If you plan on being anything less than you are capable of being, you will probably be unhappy all the days of your life - Abraham Maslow

Always and never are two words you should always remember never to use - Wendell Johnson

Concern should drive us into action, not into a depression - Karen Horney

There are no mistakes, no coincidences. All events are blessings given to us to learn from - Elisabeth Kubler-Ross

Stories are the single most powerful tool in a leader's toolkit. Well, if storytelling is important, then your narrative ability, or your ability to put into words or use what someone else has put into words effectively, is important too - Howard Gardner

Self-worth comes from one thing - thinking that you are worthy - Wayne Dyer

Simply put, you believer that things or people make you unhappy, but this is not accurate. You make yourself unhappy - Wayne Dyer

The first step toward change is awareness. The second step is acceptance - Nathaniel Branden

It is impossible to see the angel unless you first have a notion of it - James Hillman

Your children will see what you're all about by what you live rather than what you say - Wayne Dyer

What comes out of you when you are squeezed is what is inside of you - Wayne Dyer

There is overwhelming evidence that the higher the level of self-esteem, the more likely one will be to treat others with respect, kindness, and generosity - Nathaniel Branden

I don't give advice. I can't tell anybody what to do. Instead I say this is what we know about this problem at this time. And here are the consequences of these actions - Joyce Brothers

The person interested in success has to learn to view failure as a healthy, inevitable part of the process of getting to the top - Joyce Brothers

A loser doesn't know what he'll do if he loses, but talks about what he'll do if he wins, and a winner doesn't talk about what he'll do if he wins, but knows what he'll do if he loses - Eric Berne

The shrewd guess, the fertile hypothesis, the courageous leap to a tentative conclusion - these are the most valuable coins of the thinker at work. But in most schools guessing is heavily penalized and is associated somehow with laziness - Jerome Bruner

Don't marry the person you think you can live with; marry only the individual you think you can't live without - James C. Dobson

Sometimes we're so concerned about giving our children what we never had growing up, we neglect to give them what we did have growing up - James C. Dobson

Be miserable. Or motivate yourself. Whatever has to be done, it's always your choice - Wayne Dyer

Doing what you love is the cornerstone of having abundance in your life - Wayne Dyer

I cannot always control what goes on outside. But I can always control what goes on inside - Wayne Dyer

If you change the way you look at things, the things you look at change - Wayne Dyer

Judgments prevent us from seeing the good that lies beyond appearances - Wayne Dyer

Successful people make money. It's not that people who make money become successful, but that successful people attract money. They bring success to what they do - Wayne Dyer

There is no scarcity of opportunity to make a living at what you love; there's only scarcity of resolve to make it happen - Wayne Dyer

Immature love says: 'I love you because I need you.' Mature love says 'I need you because I love you.' - Erich Fromm

The hardest times for me were not when people challenged what I said, but when I felt my voice was not heard - Carol Gilligan

Sex is on the minds of most people, especially those who shouldn't be having it - William Glasser

A successful individual typically sets his next goal somewhat but not too much above his last achievement. In this way he steadily raises his level of aspiration - Kurt Lewin

ref:

http://www.brainyquote.com/quotes/type/type_psychologist.html

http://www.brainyquote.com/quotes/category/american_psychologist.html

Rakesh Jhunjhunwala‘s tip on when to sell and AN INVESTMENT

Rakesh Jhunjhunwala enhasizes that not only should you know when to buy but you should also know when to sell. As Rakesh Jhunjhunwala says in one of his commandment, learn to balance greed with fear and have reasonable expectations.

(i) Asset Allocation: It is interesting that Rakesh Jhunjhunwala never tires of emphasizing the need for proper asset allocation. If your asset allocation has gone haywire, don’t hesitate to sell to bring it back on track.

(ii) Review of Critical Factors: when you make an investment, you have hopefully paid attenbtion to the factors that Rakesh Jhunjhunwala emphasized that you should bear in mind. Keep reviewing these factors, emphasizes Rakesh Jhunjhunwala. If any of them changes adversely, sell.

(iii) Relative Opportunity: Again, trust Rakesh Jhunjhunwala to state the obvious but which all of us overlook. Keep your eyes peeled for better investment opportunities cautions Rakesh Jhunjhunwala. Is Gold a better investment opportunity? If you have that conviction, re-balance your asset allocations.

(iv) EPS or EPS Expectation Peaks: If the EPS has reached levels that can’t be matched in the near future, that’s a sign that you should exit says Rakesh Jhunjhunwala.

(v) PE Absurdity: Keep an eye on irrational behavior from other market participants. If you see a bubble building, get out before it bursts says Rakesh Jhunjhunwala.

(vi) Not Driven by Profit/Loss -Independent. This is a profound statement by Rakesh Jhunjhunwala. Don’t behave like an emotional creature and be averse to loss or get excited by profits. Keep a cool head and evaluate all decisons on an independent platform, cautions Rakesh Jhunjhunwala. Don’t refuse to sell because you don’t want to book losses and don’t rush to sell only because you have made profits. Decide independently, on the merits of the investment and whether it has any more steam left or not.

ref - http://www.rmdhar.com/index.php/2010/05/09/rakesh-jhunjhunwalas-investment-techniques/

Rakesh Jhunjhunwala‘s 10 commandments for investors

Rakesh Jhunjhunwala‘s 10 commandments for investors (tips on how YOU can be a great investor):

Rakesh Jhunjhunwala is not a legend for nothing. Not content with telling us what techniques we should adopt whilst picking our portfolio, he also tells us what mental attitude we should cultivate to be a successful investor.

(i) Be an optimist! The necessary quality for investing success;

(ii) Expect a realistic return. Balance fear and greed.

(iii) Invest on broad parameters and the larger picture. Make it an act of wisdom, not intelligence.

(iv) Caveat emptor. Never forget this four-letter word -R-I-S-K.

(v) Be disciplined. Have a game plan.

(vi) Be flexible. For Investing is always in the realms of possibilities.

(vii) Contrarian investing. Not a rule, not ruled out.

(viii) Its important what you buy. It’s more important at what price you buy.

(ix) Have conviction. Be patient. Your patience may be tested, but your conviction will be rewarded.

(x) Make exit an independent decision, not driven by profit or loss.

Each of the said 10 commandments deserves to be etched in stone and read and re-read everyday by anyone who aspires to reach the heights of Rakesh Jhunjhunwala!!

ref - http://www.rmdhar.com/index.php/2010/05/09/rakesh-jhunjhunwalas-investment-techniques/

Power of Compounding !

Soft Skills

Soft skills is a sociological term relating to a person's "EQ" (Emotional Intelligence Quotient), the cluster of personality traits, social graces, communication, language, personal habits, friendliness, and optimism that characterize relationships with other people. Soft skills complement hard skills (part of a person's IQ), which are the occupational requirements of a job and many other activities.

hard skills vs soft skills:

In the world of work, “hard skills” are technical or administrative procedures related to an organization’s core business. Examples include machine operation, computer protocols, safety standards, financial procedures and sales administration. These skills are typically easy to observe, quantify and measure. They’re also easy to train, because most of the time the skill sets are brand new to the learner and no unlearning is involved.

By contrast, “soft skills” (also called “people skills”) are typically hard to observe, quantify and measure. People skills are needed for everyday life as much as they’re needed for work. They have to do with how people relate to each other: communicating, listening, engaging in dialogue, giving feedback, cooperating as a team member, solving problems, contributing in meetings and resolving conflict. Leaders at all levels rely heavily on people skills, too: setting an example, teambuilding, facilitating meetings, encouraging innovation, solving problems, making decisions, planning, delegating, observing, instructing, coaching, encouraging and motivating.

Examples of soft skills:

§ Participate in a team (see team building)

§ Lead a team (see leadership)

§ Unite a team amidst cultural differences

§ Teach others

§ Coach others

§ Motivate others

§ Provide services

§ Negotiate

§ Decision making

§ Problem solving

§ Observe forms of etiquette

§ Active Listening

§ Maintain meaningless conversation (small talk)

§ Maintain meaningful conversation (discussion/debate)

§ Defuse arguments with timing, instructions and polite, concise language

§ Foresee situations

§ Establish rapport

§ Empathic communication

§ Self-awareness

§ Proactive Attitude

ref:

http://en.wikipedia.org/wiki/Soft_skills

Top Soft Skills a Managerial Candidate needs to possess -http://jobs.aol.com/articles/2009/01/26/top-10-soft-skills-for-job-hunters/

Top 60 soft skills at work - http://www.rediff.com/getahead/2007/jan/08soft.htm

Top 10 Soft Skills for a Manager - http://management.about.com/b/2008/09/28/top-ten-soft-skills-for-managers.htm

Investment Books

The top 7 Investment Books can give invaluable advice. The advice is provided by the giants in the field whose successful strategies have created affluence and wealth. The top 7 investing books include:

1. The Intelligent Investor
This is arguably the best, and most influential book ever written about value investing. Written by Ben Graham in 1949, this has earned rave revues by many notable investors over the years. Warren Buffett considers this “the best investing book ever written”. In this book, Graham presents investing styles for two types of investors – one for ordinary, risk-averse people who have no time for worrying about their portfolios (“defensive”), and the business man or woman who take risks and enjoy maximizing returns (“enterprising”).
2. One Up on Wall Street
It is often said that One Up on Wall Street is the first or second book any new investor must read. The famous mutual fund manager Peter Lynch builds upon the common knowledge and teaches the reader the advantages of leverage.
3. The Essays of Warren Buffett
Most professional investors have read the Berkshire Hathaway shareholders letters, written by Buffett. Professor Lawrence Cunningham arranges Buffet's corporate “essays” in order of relevance and subject. This book is a great tool to learn about management, valuation, investing strategy, stock options, economic goodwill and good accounting practices.
4. Common Stocks and Uncommon Profits & Other Writings
Philip Fisher is revered as, possibly, the most influential and articulate financial thinkers in history. In his book, he identifies fifteen qualities that he considers necessary for any good business. Using this knowledge in tandem with Graham’s “value” method, can be a very powerful tool for market analysis.
5. Security Analysis
Professor Benjamin Graham wrote this book in 1934. After five editions, and a million copies later, this seven hundred page book is still the last word in how to value and analyse almost any investment. If you are serious about your investment portfolio, this book will definitely change your life for the better.
6. How to be a Billionaire
Taking you through the financial odysseys of many American billionaires and their strategies. The book covers a span of more than a hundred years and a wide array of names; from Getty and Rockefeller to Bill Gates. It highlights the strengths of these titans in easy to decipher language. This book is not only informative, but a fun and easy read.
7. The Interpretation of Financial Statements
As an investor, you need to be able to read and understand financial statements. This classic book makes this very easy and simple to understand your financial statements.

Miscellaneous:

Stocks for the Long Run Third Edition Jeremy J. Siegel

Smart Women Finish Rich David Bach

Smart Couples Finish Rich David Bach

The Million Dollar Car and $250,000 Pizza Allyson Lewis

Rich Dad, Poor Dad (A) Robert T. Kiyosaki

Rich Dad, The Cash Flow Quadrant (A) Robert T. Kiyosaki

Rich Dad Advisors, Real Estate Riches (A) Dolf de Roos

The Art of Asset Allocation David Darst

ref:

http://www.finweb.com/investing/7-top-investment-books.html