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Special Report

BookWorm: How to Get Lucky

February 28, 2016

A wise man once said “I am a great believer in luck. The harder I work, luckier I get.”

I am sure you’ve heard of this saying a number of times in the past. It’s usually quoted by those who belong to the meritocratic school of thought which says, “If you’re good, you don’t need luck.”

If you’re successful it’s a natural human tendency to assume the credit for your success. After all you must have worked hard for it and you surely deserve it. But when I think of my life, I have seen and met many individuals who always worked harder and yet they sadly remain unsuccessful.

Goes with saying that I have also met those who achieved great heights with significantly less effort. These are the people who manage to attract much more than their fair share of luck. Usually we look down on such people with disdain. It’s assumed that any success founded on element of luck is inherently undeserving.

Do you know someone who always manages to find himself in the right place at the right time? Before you label him as lucky, ask yourself – do you think his luck is out of pure randomness? May be he has a knack for reaching to the right place at the right time.

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Benefits to VIA Members
 
  • Spotlight: Big ideas from Value Investing and why applying them in your investment decision making will be a great deal
  • InvestorInsights: Interviews with experienced value investors, learners, and deep thinkers
  • StockTalk: Thorough analysis of business models of companies (without any recommendations)
  • Behaviouronomics: Deep analysis of human behaviour and how it impacts investment decision making
  • BookWorm: Reviews of the best books on Value Investing and related subjects
  • Free Course – Financial Statement Analysis for Smart People (otherwise priced at Rs 5,900)
  • Archives: Instant access to our huge archive from the past three years
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BookWorm: Deep Work

January 30, 2016

Everyone knows about the life of Bill Gates and the success story of Microsoft but very few know about Bill’s another trait that has played an important role in making Microsoft what it is today. Bill Gates used to work with so much intensity for such lengths during his initial years while building their first product that he would often collapse into sleep on his keyboard in the middle of writing a line of code. This is the trait, a unique tendency to focus deeply on his work, which differentiated Gates from his contemporaries. Gates is also known to go for retreats twice a year which he calls “Think Weeks”, during which he isolates himself to do nothing but read and think big thoughts.

It’s this ability to do Deep Work that Cal Newport’s book, with the same title, is all about. The two most voracious readers of our times, Ryan Holiday and Shane Parrish. The two most voracious readers of our times, Ryan Holiday and Shane Parrish, have both recommended this new book. So goes without saying that it’s a must read.
[Read more…] about BookWorm: Deep Work

Life 2.0: Sugar – The Sweet Killer

January 28, 2016

Sugar should be treated like an illicit drug, a kind of legal form of heroin, a dark force to be avoided, and a substance whose use leads to physical ruin.

“My God! It’s everywhere!” I almost blurted out while scanning the food section in a supermarket in an attempt to find at least one product which didn’t have sugar in it.

If you thought that sugar is mostly in candies and desserts, you are too naive. Tomato sauce, yogurt, dry fruits, corn flakes, and bread – sugar is added in all of these. I realized that it’s difficult to find any processed food item which doesn’t contain sugar.

I suspect that even the shampoos and the soaps have sugar in it. You know, just in case it goes in your mouth while bathing, they don’t want to miss that one chance to feed you sugar.

And do you know the biggest disguise used by processed food industry to hide sugar is the term – low fat. Products labelled “low-fat” could still contain, and usually do contain, a lot of sugar. And remember, it’s not just fat that makes your fat. Sugar is the biggest culprit in making obesity an epidemic.

Am I complaining too much? Let me change the mood for a bit. Time for some fun trivia.

Did you know that until few hundred year ago, sugar used to be a very expensive item? In fact, it was considered a fine spice and was only available to rich. But from about the year 1500, technological improvements turned sugar into a much cheaper bulk commodity.

Ironically, sugar was imported by Greeks and Romans for its medicinal properties. When it was scarce and expensive, it was a fine spice. Now when it is abundant and cheap, it has turned into a fine poison.

Sugar is slower to impact our health (as we don’t die from an overdose right away), and it’s that slow destructive process that is the most dangerous. Unfortunately, most people don’t know the damage until it has already been done (diabetes for example).
[Read more…] about Life 2.0: Sugar – The Sweet Killer

BookWorm: Made to Stick

December 30, 2015

The speaker had a charisma. He was smooth, articulate and delivered a very entertaining speech. The audience were spell bound while he was speaking. A perfect ten on ten.

Here’s the rub. When the audience were surveyed about how much they remembered from our star speaker’s speech, most of them couldn’t recall much. All they remembered that the guy was good.

What a waste of time and effort for both speaker and audience, unless it was a stand-up comedy show where the audience just wanted pure entertainment and then forget everything the next day.

In today’s knowledge economy, what’s more important than ideas? It’s an ability to execute those ideas. But there is another critical piece of puzzle, especially when you are working with a team, which is how sticky your idea is in other’s minds.

“Sticky” is a metaphor to emphasize that your ideas are understood and remembered, and have a lasting impact. A sticky idea changes your audience’s opinions and behaviour. Your ability to add value or bring any meaningful change is determined by your ability to make your ideas stick.

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Want to Read More? This content is exclusive for members of Value Investing Almanack. Login to read if you are a member. Else, click here to subscribe.

Benefits to VIA Members
 
  • Spotlight: Big ideas from Value Investing and why applying them in your investment decision making will be a great deal
  • InvestorInsights: Interviews with experienced value investors, learners, and deep thinkers
  • StockTalk: Thorough analysis of business models of companies (without any recommendations)
  • Behaviouronomics: Deep analysis of human behaviour and how it impacts investment decision making
  • BookWorm: Reviews of the best books on Value Investing and related subjects
  • Free Course – Financial Statement Analysis for Smart People (otherwise priced at Rs 5,900)
  • Archives: Instant access to our huge archive from the past three years
Become a VIA Member. Click to Subscribe

Life 2.0: Join the 5 A.M. Club

December 28, 2015

If you want to make your dreams come true, the first thing to do is wake up. Why not wake up early and realize your dreams earlier.

When I was a kid my father used to tell me – “Early bird gets the worm.

I am no bird and I don’t like worms,” I would tell him and never really took his advice seriously.

Early to bed and early to rise, makes a man healthy, wealthy, and wise, was my mother’s version of motivating me to get up early in the morning. Although the quote originally came from Benjamin Franklin, I was least bothered about who said it. Getting up early was nothing less than a torture and was never in my top ten priorities for most of my childhood and teenage years.

In fact, for the first 25 years of my life, I never really understood the importance of being an early riser. But slowly as I was exposed to the writings and works of great leaders, creative artists, thinkers, authors and business leaders I started observing the pattern. Most of these people were early risers. They used each morning to write, read, ponder, and plan for their day.

Ernest Hemingway felt he did his best writing in the morning. He wrote, “There is no one to disturb you and it is cool or cold and you come to your work and warm as you write.” He’d get started at 6 A.M. and write non-stop until noon.

Benjamin Franklin would wake every day at 5 A.M. and would use the time to wash, dress, and plan his day’s work. He has in fact written a whole book on the benefits of rising early.


[Read more…] about Life 2.0: Join the 5 A.M. Club

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