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September 16, 2011 Leave a comment
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Hey people sorry for an off topic post .I need to do this to claim my blog.
N.R. Narayana Murthy
September 16, 2011 12 Comments
Here is an old interview of Narayana Murthy.I made it a point to read it today to try to understand the man a little better .
Generally I have such an antipathy towards the man that I tend to tune him out.I dislike hearing him talk about merit.While in theory it sounds good to reward the most meritorious the real problem lies in how that merit is to be determined.How is the merit of a chess player to be compared to that of a singer?And BTW is it more meritorious to sing operatic airs or folk songs?And are new /innovative ways better or orthodox ways more meritorious?Its not my case that incompetent people aught to be running the show but too narrow a definition of merit just tends to suppress the innate creative ability of people.And a merit based system can be pretty wasteful of talent and abilities. Read more of this post
Eight Principles of Strategic Wealth Management
September 15, 2011 1 Comment
Stuart E. Lucas is a fourth-generation heir to the Carnation fortune.Carnation was a family-owned business which made products like evaporated milk and non-dairy creamers before Nestle bought it in 1985.I was attracted to his book ‘ Wealth: Grow It, Protect It, Spend It and Share It’ ,because it was written by an unusual sort of financial adviser: a wealthy man with experience of managing his family’s wealth.
Personally,I’m not just interested in wealth building,but also in the ways of passing it down the generations.I was looking for some ideas on how to manage a family fortune that would hopefully grow over generations . I was looking for ideas on how to deal with family politics and the complexities arising from different temperaments and inclinations. I was looking for advice on choosing investment managers, thinking about tax strategy,goal setting in the family etc.
Here’s a summary of what I culled from the book:- Read more of this post
4 Things That Keep You Poor
September 15, 2011 1 Comment
This is a link to an interview of Robert Kiyosaki by Time Magazine: http://www.youtube.com/watch?v=9scDXa-HzSI&feature=mfu_in_order&list=UL .Love the man or not, crucify him for exaggeration and oversimplification,even peddling conspiracy theories but he does often have a couple of good points.At round 1:15 in the video he makes a good point.4 things stop a person from being rich/wealthy,viz.
- Taxes
- Debt
- Inflation
- Retirement Plans Read more of this post
6 Ways to Turn Desires into Gold
September 13, 2011 1 Comment
The following is an excerpt from Napoleon Hill’s ‘Think and Grow Rich’
The method by which desire for riches can be transmuted into its financial equivalent, consists of 6 definite, practical steps,viz:
FIRST:fix in your mind the exact amount of money you desire.It is not sufficient merely to say “I want plenty of money.”Be definite as to the amount.
SECOND:determine exactly what you intend to give in return for the money you desire (There is no such reality as ” something for nothing
THIRD:establish a definite date when you intend to possess the money you desire.
FOURTH:create a definite plan for carrying out your desire and begin at once,whether you are ready or not, to put this plan into action. Read more of this post
wealthymatters 