RandomBlog2011 | wealthymatters

Burgernomics

August 5, 2011 2 Comments

wealthymatters.com

After 25 years, India has recently made it to the Big Mac Index.The Big Mac Index is a “lighthearted” guide published by’ The Economist’ to compare the currencies of different countries. It does so by looking at the price of a Big Mac burger, which is available in more than 100 countries with an identical recipe. Thus, a Big Mac in the U.S. costs $4.07 whereas in China it costs $2.27, using nominal exchange rates. From this, the index suggests that the Chinese yuan is 44% undervalued versus the U.S. dollar, otherwise the price of a Big Mac would be the same. Read more of this post

Filed under Theory Tagged with Big Max Index, burgernomics, devalued currency, exchange rate, Export-Import, How to Benefit from a Devalued Currency, Indian Rupee, postaday2011, Purchasing Power Parity (PPP), RandomBlog2011

Li Ka-shing : Hardworking,Frugal & Steadfast

August 4, 2011

wealthymatters.com The Honourable Li Ka-shing GBM, KBE, JP (nickname “Superman”) stands 11th in the Forbes List with an estimated wealth of US$26.0 billion.He is the wealthiest person of East Asian descent.

Li is a product of adversity.He sees himself as a gnarled tree firmly rooted among the rocks of a mountain slope.Whenever he has found himself beset by troubles he has found himself “upto”dealing”with it.He describes himself as hardworking, frugal, steadfast,willing to learn and build a credible name.These qualities have taken him very far indeed in life.Presently, he is the Chairman of Hutchison Whampoa Limited (HWL) and Cheung Kong Holdings; through them, he is the world’s largest operator of container terminals(including those in Hong Kong, Vancouver, Canada, China, UK, Rotterdam,Panama, Bahamas etc.- in all, his business controls 13% of all container port capacity in the world) and the world’s largest health and beauty retailer(a subsidiary of Hutchison Whampoa, the A.S. Watson Group is a leading retail operator with over 7,800 stores whose portfolio encompasses popular retail brands in Europe such as Superdrug (UK), Marionnaud (France), Kruidvat (Benelux countries), and in Asia including health & beauty specialist Watson’s Your Personal Store, PARKnSHOP supermarkets, Great Food Hall, TASTE food galleria, gourmet boutique style fine food hall, Fortress electrical appliance stores, Watson’s Wine Cellars and Nuance-Watson airport duty free shops. ASW is also a major producer and distributor of water products and beverages in the region with Watsons Water the top selling brand in Hong Kong). His companies make up 15% of the market cap of the Hong Kong Stock Exchange.In fact the story goes that out of every dollar spent in Hong Kong, 5c goes into Li Ka-shing’s cash-registers.His business empire includes: banking, construction, real estate, plastics, cellular phones, satellite television, cement production, retail outlets (pharmacies and supermarkets), hotels, domestic transportation (sky train), airports, electric power, steel production, ports, and shipping. Read more of this post

Filed under Entrepreneurship, Theory Tagged with A.S. Watson Group, billionaire, Cheung Kong Holdings, container ports, Essar, Hutch-Essar, Hutchison Whampoa Limited, Kruidvat, Li Ka-shing, Marionnaud (France), postaday2011, RandomBlog2011, retail empire, Superdrug (UK), Telcom

Carlos Slim and the Giving Pledge

August 1, 2011 3 Comments

wealthymatters.com

Carlos Slim Helu is one of the prominent people to have declined to sign the Giving Pledge promoted by Warren Buffett and Bill Gates.Here is his reasoning:

“I prefer that Bill Gates create a Microsoft or Steve Jobs create an Apple.” Giving away their personal wealth “is an interesting idea… but it won’t solve any problems. They will make that money tax deductible and give 5% [of the overall amount] every year to [the actual] charity. If they collect $300 billion, they will use only $15 billion every year. That won’t solve any problems.” Read more of this post

Filed under Philanthropy Tagged with Carlos Slim Helu, Charity, development, jobs, philanthripy, postaday2011, RandomBlog2011, The Giving Pledge

Carlos Slim Helu

July 31, 2011 Leave a comment

wealthymatters.com

Carlos Slim Helu might have made it to the top of the Forbes List the second time in running but he is hardly known in India.Other than a few brief news pieces there has hardly been anything written about him in the Indian Press.

Now here is a man from an emerging economy who has made it to the top of the world rich list.The first to have done so.

His parents were successful in trade and business and so his family was well to do.But he multiplied the family fortune manifold by his own efforts.He was the 5th of 6 children and his father died when he was just 13 years old.However even before that his father gave him a good grounding in business skills especially in book keeping.Carlos made his first investment on his own in government bonds when he turned 13. Read more of this post

Filed under Entrepreneurship, Theory Tagged with art, billionaire, buying companies cheap, Carlos Slim Helu, Forbes List, Happiness, interview, letter to university students, postaday2011, RandomBlog2011, success

21 Success Secrets of Self-Made Millionaires

July 30, 2011 5 Comments

wealthymatters.com Brian Tracy cites a startling statistic:By age 65, out of 100 people, 1 will be wealthy, 4 will be financially independent, 15 will have some savings set aside and the other 80 will be flat broke, busted and dependent on others for survivals.

Brian Tracy believes that cultivating the following list of habits will automatically make a person wealthy in time. Practicing these habits, Brian personally went from an income of $12,000 to over $150,000 a year in a very short time and then on to several million dollars. Here is more about the man: http://en.wikipedia.org/wiki/Brian_Tracy