Friday, October 28, 2022

Read 🖤 Books The 2-Hour Job Search, Second Edition: Using Technology to Get the Right Job Faster

The 2-Hour Job Search, Second Edition: Using Technology to Get the Right Job Faster

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Review : Use the latest technology to target potential employers and secure the first interview--no matter your experience, education, or network--with these revised and updated tools and recommendations. “The most practical, stress-free guide ever written for finding a white-collar job.”—Dan Heath, coauthor of  Switch  and  Made to Stick Technology has changed not only the way we do business, but also the way we look for work. The 2-Hour Job Search rejects laundry lists of conventional wisdom in favor of a streamlined job search approach that produces results quickly and efficiently. In three steps, creator Steve Dalton shows you how to select, prioritize, and make contact with potential employers so you can land that critical first interview. In this revised second edition, you'll find updated advice on how to efficiently surf online job postings, how to reach out to contacts at your dream workplace and when to follow up, and advice on using LinkedIn, Indeed, and Google to your best advantage. Dalton incorporates ideas from leading thinkers in behavioral economics, psychology, and game theory, as well as success stories from readers of the first edition. The 2-Hour Job Search method has proven so successful that it has been shared at schools across the globe and is a formal part of the curriculum for all first-year MBAs at Duke University. With this book, you'll learn how to make it work for you too. Read more

 

Review : If I could sum up two things that the 2HJS offers it would be: 1.) A psychological and research/evidence-based approach to networking and acquiring meaningful knowledge to assist in the job search. The knowledge and background that Dalton lays out for you gives you confidence and an understanding that his recommended approaches are not subjective but rather based in meaningful understanding of how people interact and provide support. 2.) A focused and straightforward guide to job searching - For someone who read ALL the blogs about job-searching and networking, the 2HJS is a breath of fresh air. Instead of giving broad advice, Dalton lays out clear methods of attaining a job at one of your top companies. For example, Dalton encourages you throughout the job search process to understand the cost/reward benefit of each action you take. He uses feedback from his own experience (guiding countless students through the job search process) and scientific-based evidence to recommend practices, which reap the most rewards for the job seeker. I am one to get caught up in the steps, slowing myself down. I also tended to think to broadly about ALL the companies I could work for. The LAMP list method has given me so much focus and increased my stamina for the job search. Dalton also offers countless trouble-shooting sections that cater to unique situations, and this has been so helpful. Ultimately, the 2HJS lays out what are the most impactful, actionable steps you can take to land yourself a job and lays out methods that maximize the time you spent. This book has eliminated so much of the stress I have had about the job search, it has helped me connect with people at my top companies, and it has systemized my approach to networking (which was so elusive and challenging to me before). I received this book recommendation from a friend and could not be more grateful!! One of the most impactful professional books I've ever read.

Download 💛 Epub The Prize: The Epic Quest for Oil, Money & Power

The Prize: The Epic Quest for Oil, Money & Power

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Review : Winner of the Pulitzer Prize and hailed as “the best history of oil ever written” by Business Week, Daniel Yergin’s “spellbinding…irresistible” ( The New York Times ) account of the global pursuit of oil, money, and power addresses the ongoing energy crisis. Now with an epilogue that speaks directly to the current energy crisis, The Prize recounts the panoramic history of the world’s most important resource—oil. Daniel Yergin’s timeless book chronicles the struggle for wealth and power that has surrounded oil for decades and that continues to fuel global rivalries, shake the world economy, and transform the destiny of men and nations. This updated edition categorically proves the unwavering significance of oil throughout the twentieth century and into the twenty-first by tracing economic and political clashes over precious “black gold.” With his far-reaching insight and in-depth research, Yergin is uniquely positioned to address the present battle over energy which undoubtedly ranks as one of the most vital issues of our time. The canvas of his narrative history is enormous—from the drilling of the first well in Pennsylvania through two great world wars to the Iraqi invasion of Kuwait, Operation Desert Storm, and both the Iraq War and current climate change. The definitive work on the subject of oil, The Prize is a book of extraordinary breadth, riveting excitement, and great value—crucial to our understanding of world politics and the economy today—and tomorrow. Read more

 

Review : THE PRIZE by Daniel Yergin is an 884 page history book about the oil industry. High points include the discoveries of oil in Pennsylvania, Texas, Baku, Sumatra, Iran, and in off-shore locations. (Baku was an independent duchy that was taken by Russia in 1813, by way of the Treaty of Gulistan. But now, Baku is the capital of Azerbaijan.) High points of this book also include info on collaborations between companies, e.g., Standard Oil of California, Standard Oil of New Jersey, Texaco, Socony, Gulf, Royal Dutch Shell, British Petroleum, and Compagnie Francaise des Petroles (see page 503). The book avoids chemistry, and avoid disclosing innovations relating to the detection, drilling, and refinement of oil. The book is mainly about politics. For me, the most exciting part of the book was about oil supplies for the Allies and Axis countries during WWII. For example, we read that U.S. General Carl Spaatz, under Eisenhower, led an attack on May 12, 1944 of 935 bombers against Germany's I.G.Farben synthetic oil factory in Leuna, Germany (page 346), and on May 28th attacked Germany's oil facilities located in Rumania. The book is essential reading for anyone interested in WWII, in the Middle East, or in how the world is put together. The book is abundantly readable, and can be understood in its entirety by any intelligent high school student. Difficult words rarely occur, and they make their appearance on only a dozen or so pages in the entire book. For example, we find imbroglio (page 477), condottiere (page 501), disquisition (page 521), nostrum (page 570), and hegemony (page 638). That's about it for the difficult words in this book! PHOTOGRAPHS. The book contains 32 pages of glossy B & W photos showing, e.g., an oil well in Pennsylvania (1859), an oil field of 15 oil wells in Pennsylvania (1865), George Bissell, John Galey, Spindletop oil well (1901), Marcus Samuel, oil well in Sumatra (1885), Calouste Gulbankian, King Ibn Saud, Germany's synthetic fuels plant before and after being bombed, Mossadegh, George McGhee, etc. The following (below) outlines some of the highlights of this book. JAPAN IN WWII. In entering WWII, Japan believed that it had enough oil to last for two years, and that afterwards it could get oil form the East Indies (Borneo, Balikpapan in Borneo, Sumatra). In fact, the Japanese were able to capture enough East Indies territory to provide 50 million barrels/year, sufficient for the Japanese fleet. Japan discovered a huge oil field in Sumatra, called THE MINAS STRUCTURE. However, a problem was that Japan did not bother to provide convoys to protect their oil tankers. Eventually, Japan provided convoys, but the US used the radio signals from the convoys as homing devices. US submarines, by early 1945, cut off 100% of Japan's oil supply. In desperation, Japan tried using tug boats pulling rubber bags filled with oil, but the oil dissolved the rubber. Also, Japan decided to build coal-burning ships, but these sailed slowly. Also, Japan turned to pine roots, which were dug up and distilled in thousands of small stills, producing 75,00 barrels of oil/month (pages 73-75, 318, 350-364). RED LINE AGREEMENT. This concerns Mesopotamia and interest by Anglo-Persian Oil Co., and by Turkish Petroleum Co. Turkish Petroleum Co. was assembled by CALOUSE GULBENKIAN, son of a wealthy Armenian who imported Russian kerosene into Turkey. In 1917-1918, that is, at the close of WWI, England realized that it would need oil for any future wars, and thus decided to invest in Mesopotamia and Persia. Three groups, (1) Anglo-Persian, (2) Royal Dutch, and (3) American companies, in 1925 sent expedition to Iraq, and on October 15, 1927 at BABA GURGUR discovered a huge source of oil (page 204). A contract was then signed, giving Royal Dutch/Shell (24%), Anglo-Persian (24%), French (24%), Near Eastern Development Co. (24%), and Calouse Gulbenkian (5%) the indicated percentages. The contract included a map with a red line circling Turkey, Saudi Arabia, Israel, and Iraq (but not circling Persia or Kuwait) (page 204-205). The RED LINE AGREEMENT provided that participants in the Iraq Petroleum Co. (IPC) could not operate independently within the red boundaries. They were required to act in unison or not at all (page 282). After WWII, American companies (Jersey and Socony) argued that the RED LINE AGREEMENT was no longer valid, but France and Mr. Gulbenkian argued that it was still valid (pages 413-414). France needed the RED LINE AGREEMENT to be intact, because without it, France would have no access to middle eastern oil. Gulbenkian wanted it to remain intact, because IPC and its predecessor (Turkish Petroleum Co.) was his life's work. The book then details the formation of ARAMCO, a company that was totally American, with the concurrent dissolution of the RED LINE AGREEMENT (page 419). The book discloses the plan of STANDARD OIL OF NEW JERSEY and SACONY to merge with STANDARD OIL OF CALIFORNIA and TEXACO, in order to form ARAMCO. This merger agreement was signed on March 12, 1947. Aramco means, "Arabian-American Oil Co." Initially, Aramco was only Standard Oil of California and Texaco (p. 410), but later it consisted of the above four companies. The book highlights one aspect of the Aramco merger, namely, the opinion of KING IBN SAUD. King Saud was interested in only one thing, namely, assurance that none of these four companies was controlled by the British. In particular, he was worried about Jersey and Sacony being controlled by the British. But as it was, Aramco was 100% American. CRITICISM. A failure of this book is that it does not explain the practical consequences of dissolving the RED LINE AGREEMENT, and the expansion of Aramco into four companies. In other words, the reader is not told if Gulbenkian's access to particular oil fields, or if his fees and profits were changed. Also, we are not told if Aramco's access to particular oil fields, or if its fees or profits were changed by dissolving the RED LINE AGREEMENT. Please note the following general criticism of this book. If you ask a person who was "really there," and who experienced first hand the events in history that are disclosed in this book, it is possible that you will learn that some of the narratives in THE PRIZE are not accurate. But type of shortcoming typical of many newspaper reports, and it might also be expected to result in a book that is based on newspaper reports. It is thus the case, that THE PRIZE is mainly trustable as starting point -- good for initial orientation -- should one be possessed to embark on a career relating to the oil industry. SPINDLETOP. Patillo Higgins, a 1-armed mechanic and lumber merchant, noticed gas bubbling through springs at a hill called SPINDLETOP, near Beaumont, Texas. In 1892, he organized Gladys City Oil Co., but geologists investigating the area called it nonsense. Higgins found a partner (Anthony Lucas), and Lucas went to Pittsburgh, PA to attract the interest of wildcatters (John Galey and James Guffey). Galey was a geologist. Guffey was a politician and promoter who dressed as Buffalo Bill. On January 10, 1901, Higgins' team struck oil at 880 feet deep, and oil flowed at 75,000 barrels per day. Land that previously sold for $10/acre now went for $900,000/acre (page 85). The result of SPINDLETOP was that the focus of America's oil production moved from Pennsylvania to Texas and Oklahoma. Shell Oil. Co, located in London, and run by MARCUS SAMUEL, took an interest and signed a 20-year contract with Guffey for marketing oil from SPINDLETOP. REZA PAHLAVI and MOSSADEGH. At the halfway point in this book we find an account of goings-on in Iran. This part of the book is fairly dense, and so provide the status of things by way of these bullet points: (1) Reza Pahlavi (the father) (1878-1944) was pro-Germany. He died in exile in South Africa. (2) Reza's son, also Reza Pahlavi (1919-1980) became king at age 21. (3) Islamic fundamentalists led by Ayatollah Kashani hates all foreigners, and hates the fact that Reza allowed women to not wear veils. (4) Bribery is the rule among all politicians in Iran. (5) In Iran, it was almost universal to hate foreigners, especially the British. (6) Elevated hatred was directed against Anglo-Iranian Oil Co., a British company. (7) United States, represented by George McGhee, Asst. Secretary of State for Near Eastern Affairs, was afraid of Soviet's taking control of Iran, and in order to fend off the Communists, the US told Anglo-Iranian Oil. Co. to increase royalties to Iran. The result was a hike in royalties in the year 1949, paid by Anglo-Iranian to Iran. (8) US urged British government to pressure Anglo-Iranian to make Iran a bigger offer. But William Fraser (1888-1970), head of Anglo-Iranian (later named British Petroleum), had from experience realized that Iranian attitude was one of "ingratitude, deception, backbiting, and new demands." (page 420). (9) Fraser was aware that other oil producing companies were winning 50/50 agreements, and at that point (autumn 1950), decided to give more money to Iran. (10) Mossadegh became prime minister of Iran in April 1951, and nationalized Iran's oil, and declared that Anglo-Iranian Oil Co. to be abolished. (11) Britain made plans to attack Iran, but to limit its attack to the capture of ABADAN island. The US was against this, since this might inspire the Soviets to attack Iran from the north. (12) But Britain countered that if it did not attack, all middle eastern countries would begin to nationalize the work-product of foreign investments, e.g., Suez Canal (pae 458). (13) In July 1951, AVERELL HARRIMEN arrived in Tehran to act as a broker. Harrimen stayed in a mirrored room in Shah's palace. Harrimen tried to make Mossadegh understand the expenses entailed by Anglo-Iranian in marketing the oil, e.g., expenses for wharves, storage tanks, pumps, roads, rail tanks, and a fleet of tankers (page 462). But Mossadegh refused to allow Anglo-Iranian Oil Co. to resume business in Iran. (14) On Sept. 25, 1951, every last British employee of Anglo-Iranian escaped from Iran. (15) The British set up an oil embargo, preventing all Iranian oil exports, and within a few weeks, Iranian oil production dropped from 666,000 barrels/day to only 20,000 barrels/day. (16) George McGhee tried to persuade Mossadegh to allow ROYAL DUTCH/SHELL (not a British company) to operate what was formerly Anglo-Iranian (page 466). (17) At this point in time (1943), rule under Mossadegh involved murder, chaos, and poverty. (18) On August 18, 1953, Reza Pahlavi ordered Mossadegh out of power (details on this accomplishment not explained by this book), and Reza Pahlavi became extremely popular in Iran (for reasons not explained by this book). (19) On October 29, 1954, Reza Pahlavi agreed to let a consortium operate in Iran (page 476). This consortium consisted of *Anglo-Iranian, *Standard Oil of New Jersey, * Socony, * Texaco, *Standard Oil of California, *Gulf, *Shell, and *CFP (a French company).

Read ❤ (Books) Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions)

Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions)

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Review : "A road map for investing that I have now been following for 57 years." --From the Foreword by Warren E. Buffett First published in 1934, Security Analysis is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd. As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, “the father of value investing,” have withstood the test of time across a wide diversity of market conditions, countries, and asset classes. This new sixth edition, based on the classic 1940 version, is enhanced with 200 additional pages of commentary from some of today’s leading Wall Street money managers. These masters of value investing explain why the principles and techniques of Graham and Dodd are still highly relevant even in today’s vastly different markets. The contributor list includes: Seth A. Klarman, president of The Baupost Group, L.L.C. and author of Margin of Safety James Grant, founder of Grant's Interest Rate Observer , general partner of Nippon Partners Jeffrey M. Laderman, twenty-five year veteran of BusinessWeek Roger Lowenstein , author of Buffett: The Making of an American Capitalist and When America Aged and Outside Director, Sequoia Fund Howard S. Marks, CFA, Chairman and Co-Founder, Oaktree Capital Management L.P. J. Ezra Merkin, Managing Partner, Gabriel Capital Group . Bruce Berkowitz, Founder, Fairholme Capital Management. Glenn H. Greenberg, Co-Founder and Managing Director, Chieftain Capital Management Bruce Greenwald, Robert Heilbrunn Professor of Finance and Asset Management, Columbia Business School David Abrams, Managing Member, Abrams Capital Featuring a foreword by Warren E. Buffett (in which he reveals that he has read the 1940 masterwork “at least four times”), this new edition of Security Analysis will reacquaint you with the foundations of value investing―more relevant than ever in the tumultuous 21st century markets. Read more

 

Review : Shipped promptly and as described

[Download] ✋ [Kindle] Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRs

Measure What Matters: How Google, Bono, and the Gates Foundation Rock the World with OKRs

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Review : #1  New York Times  Bestseller Legendary venture capitalist John Doerr reveals how the goal-setting system of Objectives and Key Results (OKRs) has helped tech giants from Intel to Google achieve explosive growth—and how it can help any organization thrive. In the fall of 1999, John Doerr met with the founders of a start-up whom he'd just given $12.5 million, the biggest investment of his career. Larry Page and Sergey Brin had amazing technology, entrepreneurial energy, and sky-high ambitions, but no real business plan. For Google to change the world (or even to survive), Page and Brin had to learn how to make tough choices on priorities while keeping their team on track. They'd have to know when to pull the plug on losing propositions, to fail fast. And they needed timely, relevant data to track their progress—to measure what mattered. Doerr taught them about a proven approach to operating excellence: Objectives and Key Results. He had first discovered OKRs in the 1970s as an engineer at Intel, where the legendary Andy Grove ("the greatest manager of his or any era") drove the best-run company Doerr had ever seen. Later, as a venture capitalist, Doerr shared Grove's brainchild with more than fifty companies. Wherever the process was faithfully practiced, it worked. In this goal-setting system, objectives define what we seek to achieve; key results are how those top-priority goals will be attained with specific, measurable actions within a set time frame. Everyone's goals, from entry level to CEO, are transparent to the entire organization. The benefits are profound. OKRs surface an organization's most important work. They focus effort and foster coordination. They keep employees on track. They link objectives across silos to unify and strengthen the entire company. Along the way, OKRs enhance workplace satisfaction and boost retention. In Measure What Matters , Doerr shares a broad range of first-person, behind-the-scenes case studies, with narrators including Bono and Bill Gates, to demonstrate the focus, agility, and explosive growth that OKRs have spurred at so many great organizations. This book will help a new generation of leaders capture the same magic. Read more

 

Review : Author John Doerr began his career under the tutelage of the great Andy Grove, CEO of Intel, who transformed that company into the world's largest manufacturer of semiconductors. It was Andy Grove who turned a simple method “OKRs”, into a devastatingly effective business tool which became the lifeblood of Intel. In 1978, Intel had developed the first high-performance, 16-bit microprocessor, the 8086. Soon it was getting overtaken by Motorola’s 68000 which was easier to program. Using OKRs, Intel launched “Operation Crush” to deal with this threat. The results were fast, focused and effective. “When we smacked Motorola between the eyes,” Doerr writes, “A manager there told me, ‘I couldn’t get a plane ticket from Chicago to Arizona approved in the time you took to launch your campaign.’” Doerr left Intel to join the venture capital firm at Kleiner Perkins Caufield & Byers, and became an early investor in Google. There he managed to entrench Andy Grove’s business tool to great effect and it is acknowledged as a key contributor to Google’s success. The results have made Doerr the 105th richest man in the US. This book describes how to use this tool. John Doerr is the current evangelist for OKRs, OKR stands for Objectives and Key Results. As a strategist, I know the importance of knowing where you are going or as Yogi Berra pithily said: "If you don’t know where you’re going, you might not get there.” However, as Doerr writes, and as you and I know, “Ideas are easy. Execution is everything.” OKRs are for executing. An “objective” is simply what is to be achieved, no more and no less. Key results benchmark and monitor how we get to the objective. The difference between ‘key results’ and ‘key performance indicators’ are very different. I may really be impressed that you performed well, but your efforts are only useful if you achieved the results I need. Marissa Mayer would say of OKRs, “It’s not a key result unless it has a number.” With a number attached, OKRs are either met of not met. There is no grey area, no room for doubt. The time frame for an OKR can vary from a month to a quarter or more, but at the end of the period, they have either been met or they have not. When the objective is clear and specific, it produces far better results than when it is vaguely worded. ‘Performance excellence,’ or ‘Customer satisfaction’ are very different when expressed as ‘98% error free’, or ‘delivered within 12 hours’. Aside from Google and Intel, OKR adherents include IT firms such as AOL, Dropbox, LinkedIn, Oracle, Slack, Spotify, and Twitter. But adherents also include firms such as Anheuser-Busch, BMW, Disney, Exxon, and Samsung. The simplicity of the design of OKRs hides the complexity of implementing the method. When the OKR is formulated, it will undergo iteration – this is inevitable. And this is not the problem. The problem is the commitment of the most senior managers to the discipline that is required. Without the most senior managers' commitment this will fail, much as your previous systems have failed to produce the promised result. In a meta-analysis of seventy studies, high commitment to managing the company by objectives showed a productivity increase of 56%. Where that commitment was low, productivity increases were a mere 6%. The problem with getting results is compounded when we are employing people to think. On an assembly line, it’s easy enough to distinguish output from activity. It gets trickier when employees are paid to think. In a thinking environment, many of the benefits of OKRs are highlighted. A particular challenge for many in such an environment is separating the person from the activity. All too often, feedback becomes very personal leading many managers to avoid confronting non-performance. When the focus is on unequivocal results that can be tracked, then non-performance can move to an analytical discussion. After all, a performance management system is a tool, not a weapon. The OKR is formulated as “We will achieve a certain objective as measured by the following key results. This begins at the highest appropriate level of the organization and then all below can align their OKRs to this meta-OKR. When Bob Noyce and Andy Grove began the “Crush” project, the directive to Intel’s management level was simple and clear: “We’re going to win in 16-bit microprocessors. We’re committed to this.” This objective was given to the top one hundred people at the meeting. It was conveyed to the next level in 24 hours. Intel was close to a billion-dollar company at the time, and “it turned on a dime” - through a clear, aligned, objective and a clear required result. The “Crush” project included top management, the entire sales force, four different marketing departments, and three geographic locations—all working together as one. It was proof of Andy Groves assertion that “Bad companies are destroyed by crisis. Good companies survive them. Great companies are improved by them.” Great companies are not great because they have a great idea, but because their execution is great. There are no exceptions. Those who do not have excellent execution are an accident waiting to happen. Using OKRs, a successful organization can focus on the handful of initiatives that can make a real difference and defer the less urgent ones. The very act of formulating the objective makes communication with clarity possible. Focusing on results rather than activities allows people to adjust their activities to meet the results, rather than to slavishly following performance indicators, as the environment changes. Consider this horrifying finding: In a survey of eleven thousand senior executives and managers, a majority couldn’t name their company’s top priorities! “There are so many people working so hard and achieving so little,” Andy Grove noted. To address this issue will require commitment to making the OKR process effective, and this commitment should not be understated, which is why it has to start from the very top. If you are a leader of your business your commitment should start with a reading of John Doerr’s book, and then share it with your colleagues. My personal experience with the process is best summed up by actress Mae West’s famous statement: I never said it would be easy, I only said it would be worth it. Readability Light --+-- Serious Insights High ---+- Low Practical High +---- Low *Ian Mann of Gateways consults internationally on strategy and implementation and is the author of the recently released ‘Executive Update.’

G.e.t 🤙 [Kindle] The Intelligent Investor Rev Ed.: The Definitive Book on Value Investing

The Intelligent Investor Rev Ed.: The Definitive Book on Value Investing

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Review : This classic text is annotated to update Graham's timeless wisdom for today's market conditions... The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949. Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles. Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals. Read more

 

Review : GRAHAM REVIEW Graham's original work itself is fantastic, if you take the time to absorb it and understand it. It took me two reads before I really felt like I grasped it well. I don't need to write an elaborate review discussing this book for people to know it is obviously an investment classic; it has Warren Buffett's full endorsement which is the reason a lot of people opt to read it in the first place. The practical advice offered is timeless. In particular I found Chapter 1 (the difference between speculation and investing), Chapter 8 (managing your emotions), Chapter 10 (discerning the advice from others) and Chapter 20 (having a margin of safety) to be enlightening, as those four chapters were probably the most useful to me personally. The advice in the very first chapter regarding the difference between investing and speculating gets lost on a lot of people today, as anything and everything that involves stocks, bonds, options, or futures seems to be categorized as investing. The portion of Chapter 8 that discusses managing your emotions is arguably the most difficult for people to actually implement in the real world, despite being a very important concept. Graham truly makes a compelling case in favor of a value approach, which as I will discuss later in this review, is inherently reliant on the belief that investments can and do become undervalued. Buffett notes that the most significant chapters for him were 8 and 20. I agree, but also add chapters 1 and 10 to that shortened list. For others that might be different. A unique thing that I appreciated about Graham is that he discusses two different ways of investing, depending on how much time you have to put into the matter. For those who have too many other things going on to put the time into it, he advocates "defensive investing," which basically focuses on safer, larger companies and is a little more bond-heavy. And for those who want to put a lot more work into it, he advocates "enterprise investing," where he lays out a more rigorous approach to value investing. While the enterprising method does indeed yield greater returns over the long run, there is nothing wrong with taking the defensive approach, particularly for those who aren't able to commit enough time in order to make the enterprising method effective. There are a few minor areas that are no longer relevant as they were in Graham's day, such as his suggestion that one should use a local bank to handle transfers of stock certificates... when it is basically all online these days. But if one reads it and remains aware that it was written in the early 1970s, then these little quirks will not bother them. I will also add that Graham places an emphasis on dividend maintenance that is probably less relevant today. In his day, strong companies actually paid out about 1/3 to 2/3 of their surpluses, whereas these days that is far less common. Graham's followers, including Buffett and Klarman, do not emphasize this so heavily (Klarman has gone as far as saying that looking at dividend policy is almost useless in today's era), although it is still probably relevant to look at the continuity of dividends especially for "defensive" investors. It should be added that while Graham has an almost aloof/academic air about him, he is equally humble and sincere, never underestimating the intelligence of his readers. And for those occasional uppity words that he uses, there is always a dictionary nearby. It may take more than a cursory read, but if you are patient, then this book is a gold mine. As a result, I give Graham 5 stars. ZWEIG REVIEW Jason Zweig's commentary really deserves its own separate review, as this is basically two different books. Throughout MUCH (not all) of the book, I would have given Zweig 4 or 5 stars, as his commentary adds to the discussion and thought process of Graham. However, Zweig departs from Graham in a very fundamental way in three portions of the book, causing me to believe that Zweig either truly disagrees with or otherwise does not fully understand what Graham's argument is. Zweig essentially subscribes to the "Random Walker" camp of those supporting a Semi-Strong version of Efficient Market Hypothesis (EMH) and believes that one is simply speculating when choosing individual stocks instead of index funds. Zweig lets his own views seep into the book slowly, chapter by chapter, until it becomes more obvious that he is not a value investor. Graham did not subscribe to this relatively recent view (only existing since the 1960s) in his approach to VALUE investing. The entire premise of value investing is that securities sometimes do become undervalued, which is rare/impossible according to proponents such as Zweig. Though to my knowledge Graham never wrote a piece articulating his stance, his actions were to the contrary of what Zweig seems to believe his position was. It's also notable that his contemporaries/students blatantly countered the EMH viewpoint (see Buffett and "Superinvestors" below; see also Phil Fisher in "Developing an Investment Philosophy" chapter 4, entitled "Is the Market Efficient?"). (1) In the first and most notable departure for Zweig, there is a portion of the book where Graham says "[i]t would be rather strange if - with all the brains at work professionally in the stock market - there could be approaches which are both sound and relatively unpopular. Yet our own career and reputation have been based on this unlikely fact." (Graham, p. 380). If one reads the version in its proper context, then they will realize rather quickly that Graham is arguing that this unlikely fact of the markets actually being inefficient much of the time is actually TRUE, and is thus a compelling reason to study value investing. However... Zweig goes on in the commentary to say that Graham is pointing out that the market is efficient, and discusses the definition of the Efficient Market Hypothesis (EMH). This is clearly NOT what Graham was saying... rather the opposite. (2) In the second notable departure, there is a commentary chapter of Zweig's where he discusses how to effectively manage your portfolio. In the chapter itself, Graham discussed stock selection. Zweig, however, goes on to say that people should not actually pick stocks with more than 10% of their money, as doing so is akin to speculating, and should instead place all or nearly all of their funds into index funds that can come close to tying the market because of the EMH. Even though this advice MIGHT (arguably) be relevant for the "defensive" investor that Graham discusses (those who do not have the time or want to put the time into managing their own portfolio), this advice is a blatant misrepresentation of what Graham advises for "enterprising" investors (those who want to actively practice value investing) in such a fundamental way as to make me want to give Zweig 1 star instead of 5. But due to my holistic review, Zweig gets more than 1. (3) Zweig places an emphasis on diversification that I don't think Graham fully intended. Graham discusses the value of diversification throughout the book by taking multiple positions. Note though that Graham does NOT advocate buying everything...simply holding a few varied positions. But Zweig interprets this concept in such a way as to, in my humble opinion, advocate over-diversification... which is effectively nothing more than buying so many things that you should have just purchased an index fund to begin with. Collectively, Zweig's most significant contribution to the book was simply putting some of Graham's now-dated statements into context. I'm not saying there's anything wrong with believing in EMH in the markets the way that Zweig does, per se. But I am harsh on Zweig because advocating EMH and claiming that any stock is "speculative" is a blatant misrepresentation of Graham's views and stance. Despite departing from Graham quite fundamentally in two or three areas, Zweig mostly added a beneficial/informative conversation. Thus I hesitantly give him 3 stars. BUFFETT REVIEW Warren Buffett has a brief introduction towards the beginning of the book that tells what readers can expect from reading his mentor, Graham. As already mentioned, he places additional emphasis on chapters 8 and 20. But more importantly, there is a compelling essay/speech by Buffett in the back of the book that is called "The Superinvestors of Graham and Doddsville" that was given at Columbia University in 1984. You don't have to buy the book to read this essay, as it is free on the internet in a few different places. But it is arguably the best rebuttal to the Efficient Market Hypothesis that anyone has ever put out, and I don't know of any EMH proponents that have ever addressed Buffett's argument. In essence, Buffett points out that many different versions of investing that have little in common with each other beyond a decidedly long-term value-driven approach have all yielded positive results over time that have had decidedly superior returns to the market. There is unfortunately little written on this topic by actual practitioners, but Buffett's argument is worth a read. It's a definite 5 stars. CONCLUSION As a result, I give this whole book collectively 5 stars. You can just ignore the areas where Zweig errs, sometimes rather substantially. You could safely ignore his additional chapters/commentary altogether, although I think it is useful to read for putting certain portions of Graham's writing into perspective. Entire book is recommended; but if you don't read the whole thing, at least read Chapters 1, 8, 10, and 20, as well as Buffett's essay. It's a great addition to any investment library. I know that adding those up rounds to 4, but it is Graham's book after all (much as Zweig might wish it was his)... so it's 5 stars.

(R.e.a.d) 🖖 (PDF) Believe IT: How to Go from Underestimated to Unstoppable

Believe IT: How to Go from Underestimated to Unstoppable

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Review : #1 WALL STREET JOURNAL BESTSELLER • NEW YORK TIMES BESTSELLER • USA TODAY BESTSELLER ARE YOU READY TO BELIEVE IN YOU? “Game-changing. Authentic. A must-read for every woman! Jamie is the real deal—and that’s rare.” —Glennon Doyle, #1 New York Times bestselling author of Untamed “Raw. Real. Powerful. Filled with vulnerability and grit. This book will inspire you to believe in your own power. It’s a book every woman needs!” —Sara Blakely, Founder Spanx Imagine overcoming the things holding you back, breaking through the barrier of self-doubt and fully becoming the person YOU were BORN TO BE ! In Believe IT , Jamie Kern Lima, founder of IT Cosmetics, shares the wild but true story of how a once struggling waitress turned her against-the-grain idea into an international bestselling sensation, eventually selling the company for over a billion dollars and becoming the first female CEO of a brand in L’Oréal’s 100+ year history. Faced with self-doubt, body-doubt, God-doubt , down to her last few dollars and told “No one is going to buy makeup from someone who has your body,” Jamie reveals for the first time what really went down, how she almost didn’t make it, how she learned to trust herself, and the powerful lessons you, too, can use to go from underestimated to unstoppable. With radical vulnerability and honesty, Jamie takes you on a journey through deeply personal stories of heartbreak and resilience—including accidentally finding out she was adopted when she was in her twenties and the reverberations this has had on all aspects of her life. Jamie also pulls back the curtain on her fight to change the beauty industry’s use of unrealistic images, on behalf of all the little girls who are about to start doubting themselves, and all of the grown women who still do. Spellbinding, riveting, with raw vulnerability and down-to-earth warmth, Believe IT shakes your soul and shows you that you, too, have what it takes to believe in yourself, trust yourself, and go from doubting you’re enough to knowing you’re enough! Do you have big goals, hopes, and dreams but let rejection get in the way? Do you struggle with feeling like you’re not enough and like success is something that happens to other people, but have a hard time believing it’s possible for you? Do you let past mistakes and failures hold you back? Do you know deep down inside that you were created for more, but somehow still doubt yourself? In Believe IT you’ll discover how to... -Overcome self-doubt -Gain the courage to take risks, an empower yourself and others -Tune into and trust your own intuition -Let go of your mistakes and insecurities -Turn down the volume on your inner critic -Handle the rejection, the haters, and the mean girls -Boost your confidence -Start your dream (and keep going!) -And much more… ​ If you’ve ever doubted yourself or felt truly underestimated, this book will inspire a new kind of belief and confidence in you and your dreams! Read more

 

Review : I loved reading every chapter of Jamie’s book Believe it! I watched Jamie shared her story in Thrivers Live 2022 virtual event I attended last week & I cried the whole time! She was one of my favorite speakers for the whole event and including a man speaker who talked about how to save money as a hairstylist and business owner. I know Jesus is the center of why I signed up for the event & listening to Jamie so that I can read this faith full book. I related into everything she shared or at least 95% of the book. It’s encouraging for my personal and work life. She helped me to become a better listener to my son who is in his earlier 20 and have a lot of ideas about his dreams & goals. She’s empowered me to become a better servant & to be authentic to myself in all areas and relationships in my life. I read her whole book in two days. I definitely will keep her book as my reference & a tool when I need to be encouraged to believe in the bigger plan God has for me. I am so happy I bought this book. I haven’t read a book for so long. A physical book and it feels good to read a real paper book versus reading on my Kindle on my phone. This is definitely a great summer read and more. By the way Oprah is so inspirational to me. I remember Oprah when I watched her on TV 10 years ago and it was because of her that I went back to church. She interviewed so many pastors who encourage me in my faith with God & to attend a local church. It was healing reading this book. It’s so many parts in it that I related into. Jamie‘s writing felt like a sister to me. Giving me all the tips and ropes to live a life in Gods will and serving well. Thank you so much for your beautiful book Jamie! I hope everyone who buys this book will be inspired and encouraged and empowered to become all God calls you to be.

[D.o.w.n.l.o.a.d] ❤ (Kindle) Influencer: The New Science of Leading Change, Second Edition

Influencer: The New Science of Leading Change, Second Edition

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Review : An INFLUENCER leads change. An INFLUENCER replaces bad behaviors with powerful new skills. An INFLUENCER makes things happen. This is what it takes to be an INFLUENCER. Whether you're a CEO, a parent, or merely a person who wants to make a difference, you probably wish you had more influence with the people in your life. But most of us stop trying to make change happen because we believe it is too difficult, if not impossible. We learn to cope rather than learning to influence. From the bestselling authors who taught the world how to have Crucial Conversations comes the new edition of Influencer , a thought provoking book that combines the remarkable insights of behavioral scientists and business leaders with the astonishing stories of high powered influencers from all walks of life. You'll be taught each and every step of the influence process including robust strategies for making change inevitable in your personal life, your business, and your world. You'll learn how to: Identify high leverage behaviors that lead to rapid and profound change Apply strategies for changing both thoughts and actions Marshal six sources of influence to make change inevitable Influencer takes you on a fascinating journey from San Francisco to Thailand to South Africa, where you'll see how seemingly "insignificant" people are making incredibly significant improvements in solving problems others would think impossible. You'll learn how savvy folks make change not only achievable and sustainable, but inevitable. You'll discover breakthrough ways of changing the key behaviors that lead to greater safety, productivity, quality, and customer service. No matter who you are or what you do, you'll never learn a more valuable or important set of principles and skills. Once you tap into the power of influence, you can reach out and help others work smarter, grow faster, live, look, and feel better and even save lives. The sky is the limit . . . for an Influencer . Read more

 

Review : This is a resource I will be referencing in my practice. As one that has always believed leadership is truly influence, this book supported that assertion and made it clear. This is fantastic resource to study and dig into.