jerryking + patience   18

The Zen of Weight Lifting
Nov. 22, 2019 | The New York Times | By Brad Stulberg.

There’s an old Eastern adage: “Before enlightenment, chop wood, carry water. After enlightenment, chop wood, carry water.” It’s great training advice too.......A favorite movements at the gym is called a farmer’s carry. You hold a heavy weight in each hand and attempt to walk with a solid, upright posture for between 30 and 60 seconds...... the farmer’s carries work your grip, core, arms, legs and even cardiovascular system — an utterly elegant full-body exercise. .......The physical and mental health benefits of weight lifting are well documented. Weight training can help us to maintain muscle mass and strength as we age, as well as better mobility and metabolic and cardiovascular health. It may help ease or prevent depression and anxiety, and promote mental sharpness.......lifting weights becomes a transformative practice to be undertaken primarily for its own sake, the byproduct of which is a nourishing effect on the soul.....Weight lifting offers participants a chance to pursue clear and measurable goals with outcomes that can be traced directly back to oneself.....In the weight room, however, it’s just you and the bar. You either make the lift or you don’t. If you make it, great. If not, you train more, and try again. Some days it goes well, other days it doesn’t. But over time, it becomes clear that what you get out of yourself is proportionate to the effort you put in. It’s as simple and as hard as that. A kind of straightforwardness and self-reliance that gives rise to an immense satisfaction, a satiating feeling that makes it easier to fall asleep at night because you know you did something real, something concrete, in the world. This doesn’t mean that progress happens fast or is always linear. Consistency and patience are key. If you try to rush the process or force heroic efforts, you invariably wind up getting hurt. Weight lifting, like so much in life, demands showing up day in and day out, taking small and incremental steps that, compounded over time, lead to big gains.
Whether you like it or not, there will be plateaus, which in my experience tend to occur right before a breakthrough. Weight lifting teaches you to embrace them, or at the very least accept them.....For most, the plateau is a form of purgatory. But to advance beyond the low-hanging fruit in any meaningful discipline — from weight lifting, to writing, to meditation, to marriage — you must get comfortable spending time there. Weight lifting shoves this reality in your face since progress, or in this case, lack thereof, is so objective.......
you don’t keep showing up and pounding the stone.

But here’s a paradox: Pound too hard or too often, and you’ll run into problems. The only way to make a muscle stronger is to stress it and then let it recover. In other words, you’ve got to balance stress and rest. Exercise scientists call this “progressive overload.” Too much stress, not enough rest, and the result is illness, injury or burnout. Too much rest, not enough stress, and the result is complacency or stagnation. It’s only when yin and yang are in harmony that you grow — another lesson that applies to a lot more than lifting weights.

It is true that from the outside, weight lifting can seem dull or boring — same movements, same barbells, same people at the same gym. 
Weight lifting fulfills three basic needs:
Autonomy: The ability to exert oneself independently and have control over one’s actions.
Mastery: A clear and ongoing path of progress that can be traced back to one’s efforts.
Belonging: Being part of a community, lineage or tradition that is working toward similar goals.
 
The Zen of weight lifting — the joy, fulfillment, hard-earned calluses and growth — lives in the process, in the journey. 
cardiovascular  compounded  consistency  core_stability  efforts  exercise  fitness  functional_strength  incrementalism  metabolism  movement-based  objective_reality  paradoxes  patience  plateauing  small_wins  soul-enriching  strength_training 
november 2019 by jerryking
Paul Singer, Doomsday Investor
August 27, 2018 | The New Yorker | By Sheelah Kolhatkar.

Paul Singer, ,
The head of hedge fund Elliott Management, has developed a uniquely adversarial, and immensely profitable, way of doing business.

Bush had co-founded Athenahealth, a platform that digitizes patient medical records and billing claims for hospitals and health-care providers, in 1999, and he had built it into an enterprise with more than a billion dollars in revenue. One of the firm’s marketing taglines was that it freed doctors and nurses to spend more time doing what they loved—practicing medicine—and less time on paperwork. Athena served more than a hundred thousand health-care providers...... Paul Singer, the founder of Elliott Management and one of the most powerful, and most unyielding, investors in the world. Singer, who is seventy-three, with a trim white beard and oval spectacles, is deeply involved in everything Elliott does. The firm has many kinds of investments, but Singer is best known as an “activist” investor, using his fund’s resources—about thirty-five billion dollars—to buy stock in companies in which it detects weaknesses. Elliott then pressures the company to make changes to its business, with the goal of improving the stock price.....Hedge funds, especially activist hedge funds, are established users of private-investigation services.....The investor acknowledged that Bush was far from perfect, and said that “there is a role for activists to hold managements accountable.” But the investor worried that the focus on the bottom line would undermine the innovative spirit that had made Athena successful. “.....The idea that companies exist solely to serve the interests of shareholders—rather than also to serve workers, customers, and the larger community—has been dominant in the business world in the past thirty years. As the field of activist investing becomes increasingly crowded, many investors are going beyond their original mission of finding ailing or mismanaged companies and pushing them to improve. Instead, some have been targeting larger, financially prosperous companies, such as Procter & Gamble, Apple, and PepsiCo. ......Often, activists advocate for measures that drive up the stock price but can have negative effects in the future, such as the outsourcing of jobs, the elimination of research and development, and the borrowing of money to buy back a company’s own stock. The wisdom of these tactics has come under increasing scrutiny. Some of the most successful businesses to emerge in recent decades have staved off short-term pressures, forcing their investors to be patient with uncertainty and experimentation. The founder of Amazon, Jeff Bezos, wrote in an early investor letter that building something new “requires you to experiment patiently, accept failures, plant seeds, protect saplings.” ........Over time, this lack of long-term vision alters the economy—with profound political implications. Businesses are the engine of a country’s employment and wealth creation; when they cater only to stockholders, expenditures on employees’ behalf, whether for raises, job training, or new facilities, come to be seen as a poor use of funds. Eventually, this can result in fewer secure jobs, widening inequality, and political polarization. ..........Bush spoke about his last day in the office, when he had sobbed during his final address to Athena’s employees. He had also written a farewell letter. “I believe that working for something larger than yourself is the greatest thing a human can do. A family, a cause, a company, a country—these things give shape and purpose to an otherwise mechanical and brief human existence,” the letter read. “The downside about things that are larger than ourselves, of course, is that we who have the privilege of serving them ourselves are fungible. It is the fundamental definition. You can’t have the grace of the one without the other......Throughout our conversations, Bush returned to a theme that consumed him. He talked about how investors like Singer—financiers who take the assets built by others and manipulate them like puzzle pieces to make money for themselves—are affecting the country on a grand scale. A healthy country, he said, needs economic biodiversity, with companies of different sizes chasing innovation, or embarking on long, hard projects, without being punished. The disproportionate power of the Wall Street investor class, Bush felt, dampened all that, and gradually made the economy, and most of the people in it, more fragile.
distressed_debt  Elliott_Management  financiers  hard_goals  hard_work  hedge_funds  investors  long-term  patience  Paul_Singer  profile  shareholder_activism  Sheelah_Kolhatkar  time_horizons  vulture_investing  Wall_Street 
august 2018 by jerryking
The ‘Warren Buffett of Brazil’ Behind the Offer for Unilever
FEB. 17, 2017 | The New York Times | by LIZ MOYER.
Profile of Jorge Paulo Lemann.

Mr. Lemann, 77, a Harvard-educated former Brazilian tennis champion, ranks 19th on the Forbes list of world billionaires, with a fortune estimated at $29 billion. He and his partners at 3G have developed over the years what many call a playbook for extracting costs from companies by eliminating frivolities like corporate-owned aircraft and expensive office space, revamping management and slashing jobs.

They instill strict austerity that forces managers to justify expenses beyond basic operating needs. Their model makes expansion overseas crucial for increasing returns.

They have also focused on major consumer brands rather than on diversifying......Mr. Lemann and Mr. Buffett share a similar investment philosophy: patience. Instead of selling his portfolio after he has cut and remodeled companies, Mr. Lemann has used Anheuser-Busch InBev and now Kraft Heinz as base camps for further global expansion.
3G_Capital  private_equity  Brazilian  patience  Unilever  Kraft_Heinz  Harvard  moguls  high_net_worth  cost-cutting  Warren_Buffett  playbooks 
february 2017 by jerryking
6 Ways Pretend Investors Differ From the Real Ones
NOV. 21, 2016 | The New York Times | By CARL RICHARDS.

* Have a long term plan
* Don't react to every single event that happens in the short term. Financial pornography is not 'actionable information' on which to make a decision about.
* Make changes to my investments based on what happens in my own life. If my goals change or there is a fundamental change in my financial situation, then I should consider an alteration.
* Real investors know that it takes a long time for a tree to grow, and it will not help to dig it up to see if the roots are still there. The same rule applies to investments. And because watching things get big slowly is not very exciting, real investors tend not to talk about that tree all that much.
* Real investors understand the difference between the global economy and their personal economy (aka micro economy) and choose to focus on the latter.
* Focus on the things I can control, like saving a bit more next year, keeping my investment costs low, not paying fees unless it’s necessary and managing my behavior by not buying high and selling again when prices are low.
howto  investors  advice  personal_finance  beyond_one's_control  habits  microeconomics  personal_economy  actionable_information  long-term  span_of_control  financial_pornography  patience  noise  discretion  global_economy 
november 2016 by jerryking
Incognito
October 2003 | Report on Business Magazine | by Doug Steiner.

"...He always seemed a step ahead, and he did it by working harder, thinking harder and trading harder—and in ways that the competition couldn't quite grasp."

Steiner's 10 rules for making serious money:

1. Economists say investing is a zero-sum game It isn't. Money moves to smart hands quickly, and lazy investors pay a price. Tiger Woods became the been golfer by practising a lot. How many prospectuses have you read in bed after the news?
2. Really good investors rarely crow. If there is $5 to be made from a trade, there will be loss than $2.50 after you've blabbed about how smart you are. There are traders who quietly take home $10 million a year. They live beside you in a modest house and drive a beat-up Nissan.
3. The best follow rules and they‘re patient. They may not invest for months. One great trader I know wanted to buy a house in a fancy neighbourhood. He spent more than a week in the registry office on his vacation, searching the title on each property in the neighbourhood to find what buyers paid and how much of that was mortgaged, going back 20 wars. He got a good deal. He does the same amount of homework investing.
4. Sharp traders never add to losing positions. Too many headaches.
5. Smart investors. when puzzled about when to sell. wonder if they should buy more. If they don’t think they should buy more,they sell.
6. The most information wins. If you like a company, phone some people who work there. Apply for a job. Try their products. Phone the shipping dock to find out if they're busy.
7. Get a Bloomberg terminal. Bloombergs have more information in them than you can use, but smart people use a lot of it.
8. Following really smart traders around the market is hard. Most have more money to invest in a position than the arbitrage or opportunity can handle. They leave few tracks.
9. Great investors an: like great athletes—they see opportunities that others don’t. Often you don't realize that what they've made the most money on is even fungible.
10. If you can't do it yourself, find someone who likes the foldouts in annual reports more than anything. Their management fees are usually worth it. And they usually don't have slick marketing brochures.
absorptive_capacity  arbitrage  Bay_Street  Bloomberg  dedication  Doug_Steiner  hard_work  hedge_funds  humility  idea_generation  investment_advice  investing  investors  money_management  obscurity  opportunities  overlooked_opportunities  patience  perception  primary_field_research  prospectuses  rules_of_the_game  self-discipline  sleuthing  slight_edge  smart_people  traders  training  unfair_advantages  zero-sum_games 
december 2013 by jerryking
Tired of being dumb money? Here’s how to get smart fast
Mar. 29 2013 | The Globe and Mail | DAVID BERMAN.
First, ignore the herd. Retail investors get into trouble because they like to follow the market. They love stocks when they’re expensive and bull markets are in full swing, and loathe stocks when they’re cheap and the bear is growling. Do the opposite: As the saying goes, buy when there is blood in the streets.

Second, accept that you are not Mr. Buffett. Over-confident investors get themselves into trouble because they take on too much risk in the hope of scoring spectacular gains. Instead, diversify and aim for the unspectacular, perhaps with low-cost exchange-traded funds that track a basket of stocks.

Third, think long-term. Retail investors are prone to expect their investments to pay off in a big way immediately – and when they don’t, these investors switch tactics, often with dismal results.
investment_advice  personal_finance  contrarians  long-term  patience  Warren_Buffett  overconfidence  individual_initiative  smart_people  independent_viewpoints  bull_markets  ETFs  low-cost 
march 2013 by jerryking
Nine key traits to make the shift from failure to success - The Globe and Mail
HARVEY SCHACHTER

Special to The Globe and Mail

Published Tuesday, Oct. 09 2012

1. Rebounders accept failure: They hate to fail, but they accept it, and try to fail productively, learning from the experience, as the inventive Thomas Edison did with his many failed experiments.

2. Rebounders compartmentalize options: They are often emotional people, with drive and passion. John Bogle, who founded Vanguard Group, was furious when he was pushed out of a previous job and even had revenge fantasies. But he didn’t spend time trying to get even. Rebounders control the emotional fallout of their struggle (i.e. emotional mastery).

3. Rebounders have a bias toward action: After Tammy Duckworth lost both legs when her U.S. military helicopter was shot down in Iraq, her first impulse was to get to work at rehabilitation and her new life. Rebounders keep pushing, keep doing.

4. Rebounders change their minds: They can discard old thinking, give up on long-held dreams, and adjust their ambitions to evolving situations. They don’t cling to ideas that are proving hopeless.

5. Rebounders prepare for things to go wrong: They don’t expect things to go their own way. They are cautious optimists, always aware their plans may go awry.

6. Rebounders are comfortable with discomfort: They are willing to accept hardships and inconveniences as long as they feel they are getting closer to their goal. Singer/songwriter Lucinda Williams could have signed a major recording deal years earlier if she had agreed to make the songs the music companies wanted, but she stayed true to her own vision, even if it meant often barely having the money to pay her rent.

7. Rebounders are willing to wait: They are determined to succeed on their own terms, and can accept that it might take a long time. “But rebounders don’t just wait positively for a lucky break, or do the same thing over and over. They constantly learn and get better, continually improving the likelihood of success until the odds tilt in their favour,” Mr. Newman observes.

8. Rebounders have heroes: Many of the rebounders he met are romantics, seeing their role as in some way historic, and they are entranced by some mentor or historical figure who they want to emulate. Vanguard’s Mr. Bogle, for example, often alluded to the naval battles of Admiral Lord Nelson and named his mutual fund company after his hero’s ship.

9. Rebounders have more than passion: We are told we need passion for success, but rebounders realize it requires more than that. They have a special drive and resilience that allows them to capitalize on their passion.
bouncing_back  resilience  Harvey_Schachter  emotional_mastery  personality_types/traits  ksfs  long-term  patience  preparation  contingency_planning  reflections  self-analysis  self-awareness  thinking_tragically  discomforts  strategic_patience  adaptability  inconveniences  passions  heroes  pragmatism  compartmentalization  action-oriented  hardships  next_play 
october 2012 by jerryking
7 Easy Steps to Bootstrapping Success
Oct 1, 2010 | Inc. Magazine | By Andrew Park. In this economy,
you can pretty much forget about financing. And it's probably just as
well, says marketing guru Seth Godin, author of The Bootstrapper's
Bible. People often ask him for advice on raising venture capital for
their start-ups, and "nine times out of 10, I advise them they
shouldn't," he says. Instead, take these seven steps to self-funded
stardom. (1) GET CLOSE TO YOUR CUSTOMERS ; (2) MAKE CLIENTS PAY UP FRONT
;(3)FIND THE FREE LUNCH ;(4) FORGET STEALTH MODE ; (5)BECOME AN
EXPERT ; (6) ASK FOR HELP ; (7) BE PATIENT
Seth_Godin  bootstrapping  entrepreneurship  inspiration  start_ups  asking_for_help  funding  finance  tips  venture_capital  charge_for_something  stealth  expertise  patience  Pablo_Picasso  strategic_patience 
september 2010 by jerryking
Surviving the Pressure With a Ready Plan Or, Literally, a Script
MARCH 2, 2004 | Wall Street Journal | By JOANN S. LUBLIN. The


The most important first step: Always expect the unexpected......Prepare by practicing positive self-talk. "Monitor that internal voice that says you're really an idiot and you can't do this job,"...You also can handle a surprise spotlight well by crafting a game plan to conquer your panic-stricken mental chaos......Unanticipated hot spots often flare up during important meetings. Show patience, career experts say. Take deep breaths, compose your thoughts, restate the question -- and use humor to defuse tension. If you avoid blurting out the first thing that comes to mind, "people will see your demeanor as cool and professional,"...most important first step: Always expect the unexpected! Most people
don't do well with the unexpected because they lack a script==> .consider improv acting classes
deep_breathing  Managing_Your_Career  Joann_S._Lublin  managing_uncertainty  resilience  uncertainty  unexpected  patience  hotspots  improvisation  impromptu  self-talk  negativity_bias  sophisticated 
november 2009 by jerryking
The Simple Dollar » The Five Ps: Breaking Down Big Dreams Into Little Steps
April 29, 2008 | The Simple Dollar | Written by Trent Hamm

Passion. Find it and know it.
Practice. Break your passion down into pieces and deliberately work on the elements.
Persistence. Practice as much as you can on an extremely regular basis, like clockwork.
Patience. Don’t expect to be great in a day, a month, or even a year.
Participation. Find new ways to get involved and share what you know.

Today, my friend, is a great day to get started.
advice  break_down  clockwork  goals  habits  inspiration  participation  passions  patience  persistence  practice  productivity  writing 
october 2009 by jerryking
How to be a packager
Posted by Seth Godin on June 29, 2009

Seth was a book packager which has nothing to do with packaging and a bit more to do with books. It's a great gig and there are useful lessons, because there are dozens of industries just waiting for "packaging"....A book packager is like a movie producer, but for books. You invent an idea, find the content and the authors, find the publisher and manage the process. Book packagers make almanacs, illustrated books, series books for kids and the goofy one-off books you find at the cash register. Seth did everything from a line of almanacs to a book on spot and stain removal. It was terrific fun, and in a good year, a fine business.....there are advantages to this model (and not just for books).

First, the world needs packagers. Packagers that can find isolated assets and connect them in a way that creates value, at the same time that they put in the effort to actually ship the product out of the door. ...
Second, in many industries there are 'publishers' who need more products to sell. Any website with a lot of traffic and a shopping cart can benefit from someone who can assemble products that they can profitably sell. Apple uses the iPhone store to publish apps. It's not a perfect analogy, because they're not taking any financial risk, but the web is now creating a new sort of middleman who can cheaply sell a product to the end user. We also see this with Bed, Bath and Beyond commissioning products for their stores, or Trader Joe's doing it with food items.

Any time you can successfully bring together people who have a reputation or skill with people who sell things, you're creating value. If you find an appropriate scale, it can become a sustainable, profitable business.

The skills you bring to the table are vision, taste and a knack for seeing what's missing. You also have to be a project manager, a salesperson and the voice of reason, the person who brings the entire thing together and to market without it falling apart. Like so many of the businesses that are working now, it doesn't take much cash, it merely takes persistence and drive.

Here are some basic rules of thumb that I learned the hard way:

* It's much easier to sell to an industry that's used to buying. Books were a great place for me to start because book publishers are organized to buy projects from outsiders. It's hard enough to make the sale, way too hard to persuade the person that they should even consider entering the market. (PS stay away from the toy business).
* Earning the trust of the industry is critical. The tenth sale is a thousand times easier than the second one (the first one doesn't count... beginner's luck).
* Developing expertise or assets that are not easily copied is essential, otherwise you're just a middleman.
* Patience in earning the confidence of your suppliers (writers, brands, factories, freelancers) pays off.
* Don't overlook obvious connections. It may be obvious to you that Eddie Bauer should license its name and look to a car company, but it might not be to them.
* Get it in writing. Before you package up an idea for sale to a company that can bring it to market, make sure that all the parties you're representing acknowledge your role on paper.
* As the agent of change, you deserve the lion's share of the revenue, because you're doing most of the work and taking all of the risk. Agenting is a good gig, but that's not what I'm talking about.
* Stick with it. There's a Dip and it's huge. Lots of people start doing things like this, and most of them give up fairly quickly. It might take three or five years before the industry starts to rely on you.
* Work your way up. Don't start by trying to license the Transformers or Fergie. They won't trust a newbie and you wouldn't either.
Seth_Godin  howto  business_development  expertise  one-of-a-kind  licensing  patience  large_companies  voids  vision  persistence  change_agents  overlooked_opportunities  packaging  value_added  non-obvious  latent  hidden  information_synthesis  creating_valuable_content 
july 2009 by jerryking

related tags

3G_Capital  absorptive_capacity  accountability  action-oriented  actionable_information  adaptability  advice  affirmations  Ajay_Royan  angels  arbitrage  asking_for_help  athletes_&_athletics  Bay_Street  beyond_one's_control  Bloomberg  books  bootstrapping  bouncing_back  Brazilian  break_down  bull_markets  business_development  Canada  Canadian  cardiovascular  change_agents  charge_for_something  churn  clockwork  Comcast  compartmentalization  compounded  consistency  contingency_planning  contrarians  core_stability  cost-cutting  creating_valuable_content  crossborder  curiosity  deal-making  dedication  deep_breathing  delayed_gratification  discomforts  discretion  distressed_debt  Doug_Steiner  efforts  Elliott_Management  emotional_mastery  entrepreneurship  Eric_Baker  Eric_Reguly  estate_planning  ETFs  exercise  expertise  family  finance  financial_advisors  financial_pornography  financiers  fitness  frugality  functional_strength  funding  generational_wealth  global_economy  goals  habits  hardships  hard_goals  hard_work  Harvard  Harvey_Schachter  hedge_funds  heroes  hidden  high_net_worth  holding_periods  hotspots  howto  humility  idea_generation  immediacy  impromptu  improvisation  inconveniences  incrementalism  independent_viewpoints  individual_initiative  information_synthesis  inspiration  investing  investment_advice  investors  Joann_S._Lublin  Johnson_&_Johnson  Jonathan_Clements  Kraft_Heinz  ksfs  large_companies  latency  latent  licensing  long-term  low-cost  managing_uncertainty  Managing_Your_Career  metabolism  microeconomics  MIT  Mithril  moguls  money_management  Mormons  movement-based  negativity_bias  next_play  noise  non-obvious  objective_reality  obscurity  one-of-a-kind  opportunities  overconfidence  overlooked_opportunities  oversaturation  Pablo_Picasso  packaging  paradoxes  participation  passions  patience  Paul_Singer  perception  persistence  personality_types/traits  personal_economy  personal_finance  Peter_Thiel  philanthropy  plateauing  playbooks  practice  pragmatism  preparation  primary_field_research  privately_held_companies  private_equity  productivity  profile  prospectuses  reading  reflections  resilience  rules_of_the_game  scouting  scriptures  self-analysis  self-awareness  self-discipline  self-education  self-sabotage  self-talk  Seth_Godin  shareholder_activism  Sheelah_Kolhatkar  simplicity  sleuthing  slight_edge  small_wins  smart_people  sophisticated  soul-enriching  span_of_control  speculators  start_ups  stealth  sticktoitiveness  stocks  strategic_patience  strength_training  superangels  Teranet  thinking_deliberatively  thinking_tragically  timeouts  time_horizons  tips  Toronto  traders  trading  training  uncertainty  unexpected  unfair_advantages  Unilever  value_added  vc  venture_capital  vision  voids  vulture_investing  Wall_Street  Warren_Buffett  wealth_management  writing  zero-sum_games 

Copy this bookmark:



description:


tags: