RandomBlog2011 | wealthymatters

Food for Thought

September 18, 2011 Leave a comment

Here is a poem I came across in Napoleon Hill’s ‘Think and Grow Rich’.I think it is very good.I wish that I had somehow come across this poem years ago;sometime in middle school when we had to memorize so many poems.It would have saved me so many years and so much vain effort chasing perfection.I would have then concentrated on winning instead of trying to be most worthy of winning.BTW a bit of googling brought up the poet’s name Walter D. Wintle. Read more of this post

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Bob Parsons’ Rules

September 17, 2011 Leave a comment

wealthymatters.com

Bob (Robert) Parsons is an American entrepreneur. He is the CEO and founder of The Go Daddy Group, Inc., a family of companies comprising three ICANN-accredited domain name registrars, including flagship registrar GoDaddy.com, reseller registrar Wild West Domains and Blue Razor Domains. Other affiliated companies include Domains by Proxy Inc., a domain privacy company, and Starfield Technologies, the business’s technology development arm.

I came across his 16 Rules for Success in Business and Life in General on his vlog http://www.bobparsons.me

1. Get and stay out of your comfort zone.I believe that not much happens of any significance when we’re in our comfort zone. I hear people say, “But I’m concerned about security.” My response to that is simple: “Security is for cadavers.” Read more of this post

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N.R. Narayana Murthy

September 16, 2011 12 Comments

wealthymatters.com 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

Filed under Entrepreneurship, Theory Tagged with compassionate capitalist, IIM Ahmedabad, IIT Kanpur, Infosys, Jayanagar Bangalore, Karnatka State Imdustrial and Investment Development Corporation, Krishnayya, KSN Murthy, Microsoft, Mysore, Nasscom, NR Narayana Murthy, Patni Computers, postaday2011, RandomBlog2011

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

Filed under Theory, Tool Kit Tagged with Carnation Nestle, family office, postaday2011, RandomBlog2011, Stuart E. Lucas, Wealth: Grow It Protect It Spend It and Share It

4 Things That Keep You Poor

September 15, 2011 1 Comment

wealthymatters.com 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.