<a href="https://www.goodreads.com/book/show/1052.The_Richest_Man_in_Babylon">The Richest Man In Babylon </a>gives common sense financial advice which you can apply today, told through tales and parables from the times of ancient Babylon.

The Richest Man In Babylon - Summary

<a href="https://en.wikipedia.org/wiki/George_Samuel_Clason">George S. Clason </a>was a soldier, businessman, and writer. <a href="https://www.goodreads.com/book/show/1052.The_Richest_Man_in_Babylon">The Richest Man In Babylon </a> is his most popular piece of work, consisting of numerous parables, metaphors, and stories set in ancient Babylon. It’s an absolute finance classic.Originally published in 1926, the advice in this book is still as sound as it was almost a century ago.The Babylonians discovered many of the basic principles behind wealth, such as saving a small part of your income each month, investing it wisely, learning how to lend money instead of borrowing it and how to protect your wealth.

<ol><li>Live below your means. </li><li>Learn how to be lucky. </li><li>Never take on debt. </li> </ol>What is it that makes rich people rich? I’m not talking about the kids of millionaires or oil sheiks, who’ve always been rich. I’m talking about the people who, after working hard for a few decades, can walk out the door of their job and never return again, because they can live off the wealth they have accumulated.

3 Important Lessons From The Book

Do they stuff every penny they earn into their mattress? Or do they just work abnormal hours no one can keep up with? The truth is in the middle. Wealthy people develop their riches mostly based on 2 things: <ol><li>Living slightly below their means. </li><li>Investing the money they save well. </li> </ol>

Living below your means is the first checkpoint you have to pass to even have the money to invest, so why not start there? The goal of our Western economy and education system is for you to <a href="http://www.raptitude.com/2010/07/your-lifestyle-has-already-been-designed/">take on a 40-hour day job and then spend everything you earn </a>. But nobody said you have to play that game. You don’t have to stop drinking the occasional Latte or going to the movies. But you can still spend less than you earn .

You know best where you’re spending money just for the sake of convenience, entertainment and gratification, that’s really not necessary and that’s exactly the money you should be saving and investing instead.The Richest Man In Babylon suggests you save 10% of your income to invest .I personally have been saving 20% of my income for the past year and it’s put me in a much more relaxed situation financially where I have some savings and even a small portfolio of stocks.So look at your expenses and cut the ones that are really unnecessary and you’ll see finding those 10% is easier than you think

The summary intro said “learn how to be lucky”. What a fascinating idea, isn’t it? But how can this book teach you something that’s really not in your hands? This is where most people are mistaken. No one ever said luck was something that can’t be manufactured . We just expect it to be. That’s something called chance. A random occurrence with very little likelihood of happening, such as winning the lottery or being struck by lightning.

Luck, however, is based on opportunity and you can create more opportunities by working hard. Consider Jerry Weintraub’s story. 364 times, the man said ‘No’. But eventually, on the 365th day, he said yes. Jerry didn’t get lucky. He worked. Every day he called, until the timing was right and the opportunity presented itself to him.

This should (in theory) be a no-brainer for anyone, yet we find ourselves in a world where <a href="http://www.forbes.com/sites/mikepatton/2015/04/24/national-debt-tops-18-trillion-guess-how-much-you-owe/#5ca3cfad5ebd">the average American is over $150,000 in debt </a>. One of the first steps to build wealth is quitting the irrational self-talk that makes you justify purchases you can’t afford . Money is a pretty rational thing and it’s about time you started treating it that way. That’s how you become lucky.

Lesson 2: Learn how to be lucky by working hard.

This should (in theory) be a no-brainer for anyone, yet we find ourselves in a world where <a href="http://www.forbes.com/sites/mikepatton/2015/04/24/national-debt-tops-18-trillion-guess-how-much-you-owe/#5ca3cfad5ebd">the average American is over $150,000 in debt </a>. One of the first steps to build wealth is quitting the irrational self-talk that makes you justify purchases you can’t afford . Money is a pretty rational thing and it’s about time you started treating it that way. When you can’t afford a fancy new car, or a flashy TV, well, you can’t afford it.

But when you go out and get a loan to finance it, you’ll delay your journey to wealth for months or even years, because you now have to spend the money you save each month to pay off the debt, instead of being able to invest it. Instead of solving your problems with loans, ask “how can I afford this?” and figure out ways to make more money or save more money, so you can buy the things you want. Taking on debt has never solved any problems, it just creates more, so finish the spending spree and start saving!

<a href="https://www.goodreads.com/book/show/1052.The_Richest_Man_in_Babylon">The Richest Man In Babylon </a> is a must read for anyone wanting to truly master the concept of money. The book delivers financial tips in a very strong way: by wrapping them into amazing stories. What’s more, you can read them all individually, which means you don’t have to read the book in one go to get the most out of it. Fantastic!

The 21 year old on his first corporate job, who’s happily spending his income every month, the 45 year old who’s taken on a loan or two to finance luxury purchases, and anyone who buys lottery tickets on a regular basis.

Book Recommended For

The Richest Man In Babylon summary shows you how to live below your means, why to never take on debt & how you can become luckier (yup, it's a skill!)

moneyandinvestments

Money & Investments

The Richest Man In Babylon Summary

If you Run Behind in Saving Lots of Money & think that Saving a Lot of Money Means Building Wealth, then you are going to Loss the actual Joy of money & Regret it. But if you make yourself Money Literate & Learn how money Work & How to Invest Properly. Saving is not Bad but Sacrificing the youth's joy for saving it is not Good.

1. Don’t try & Save Too much Money:

Every Student should have an Investment Account I mean, if you are Reading this means you are Aware of your Surroundings & Money. It doesn't matter what age you are in you are a Minor then open a Demat Account with your parents & start Investing by Clicking Here. If you are Student, Working Person & ETC. you should open your Demat Account by Clicking Here.

2. Open an Investment Account:

In your Early Days, you should be Investing in Index Funds, because if you are a Student or a Working Person who doesn’t want to make lots of research & stuff. then you can go with Index Funds.

3. Invest In Index Funds:

This is for Educational Purposes only, we are not giving you any Money or Investment Advice. this for making you aware of it, you have to take your own decisions regarding investment. So, we are Not Responsible for any Misshappning.

*Note:

More Investment Related Content is on its way you can join us by creating your Account at Adding Values so that you will get an Update on every New Article. And you can Follow us here to get Notified.Article by: <a href="https://www.shivrajpatil.com/">Shivraj Patil</a>Publisher: <a href="https://www.addingvalues.xyz/">Adding Values </a>😊Happy Learnings📚

Update

As you know Investment is one of the most Important Part of Life. but these things are don't Taught in School, you have to make your own self Money Literate. So here is the So here is Tip of the Ice Berge. More about in Article.

1. Don’t try & Save Too much Money.
2. Open an Investment Account.
3. Invest In Index Funds.

Investing Advice* for Teenagers

Warren Buffett's definition of success:  When you’re nearing your end of life, your only measure of success should be the number of “people you want to have love you actually do love you.”

The measure of success

“I know people who have a lot of money, and they get testimonial dinners and they get hospital wings named after them. But the truth is that nobody in the world loves them. If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is, your life is a disaster.”

Count on billionaire Warren Buffett to deliver the gift of wisdom right when you need it most. At the end of your life, he says the greatest measure of success comes down to just number.

personaldevelopment

Personal Development

motivationandinspiration

Motivation & Inspiration

loveandrelationships

Love & Relationships

Warren Buffett: This is your 1 greatest measure of success in life (and if you don't have it, 'your life is a disaster')

If you want to learn skills that improve your salary But you don't usually remember the information you're learning These are 3 tools that, according to science, will improve your salary by learning new things

What Do you Want?

Maybe you finished uni two years from now. In that time, you have not been able to improve your salary because they ask you for specializations, master's degrees or doctorates. And you probably don't have enough time or money to start taking them. Let's see how you can learn better to improve your salary according to science →

Probability

Before I used to learn new information in the following way: I got up early, took a shower with cold water to have energy, had breakfast and then I had a coffee to start studying. I felt awake, but after a couple of days the information I had learned was no longer on my mind. Why?

How We Are Used to Learn

Anyone would say that I was not studying properly. That I was not studying with active recall or spaced repetition, which are the most effective techniques for learning according to science [1]. And no, that was exactly what I was doing. (By the way, active recall and spaced repetition refer to asking ourselves what we learn and doing it spaced out in time).

The Apparent Mistake

So, if I was studying in the most appropriate way according to science, Why was I forgetting the information? Why did you have to start from scratch every time?

Two Reasons

Let's start with the first: how long do you have to repeat the information to remember it forever. As much as I'd love to promise you foolproof strategies, life doesn't work like that. Everything fails at a certain moment, even one fails. And since you yourself fail, you can't rely on sparingly repeating the information so many times (because you're also lazy). So instead of focusing on how many times you should repeat the information you study, do this →

How Long do you Have to Repeat the Information to Remember it Forever

Add emotion to what you learn. And no, I don't mean to encourage what you are studying. I mean looking for the information you learn to be more emotional. Science has shown that it is easier to remember information this way [2].

The Key

How to make the information you learn more emotional? The easiest way is to relate it (hypothetically) to your daily life. For example, if you are learning how to create a web page, think about how you would explain that to your partner if you wanted them to understand.

How to Make the Information You Learn More Emotional?

You may be wondering what happened to the chemical. What happened to that that was going to allow you to better remember the information in your brain.

There's Something Missing

In the post we talked a bit about asking ourselves what we study and doing it spaced out over time. The problem is that you probably don't have the time to ask yourself the information that you learn very often. What to do in those cases? Is it worth playing the victim and saying you can't improve because you don't have enough time? Not really. Especially since there are always better strategies. And one of those strategies has to do precisely with a chemical substance that has a very particular result:

The Chemical that Will Help you Remember Information Easier 👇🏻.

That substance is adrenaline, and it can be achieved by exposure to cold or by consuming caffeine*. But the key is to do it right after learning [3]. Tell me in the comments if you prefer to take a shower with cold water or drink coffee. I read you *this is informative and not medical, for more information consult a professional.

It Decreases the Number of Repetitions Needed to Remember the Information you Learn.



[1] Dunlosky, J., Rawson, K. A., Marsh, E. J., Nathan, M. J., & Willingham, D. T. (2013). Improving Students’ Learning With Effective Learning Techniques: Promising Directions From Cognitive and Educational Psychology. Psychological Science in the Public Interest, 14(1), 4–58. https://doi.org/10.1177/1529100612453266[2] Cahill L, McGaugh JL. Mechanisms of emotional arousal and lasting declarative memory. Trends Neurosci. 1998 Jul;21(7):294-9. doi: 10.1016/s0166-2236(97)01214-9. PMID: 9683321.

References (I)

[3] Cahill L, Gorski L, Le K. Enhanced human memory consolidation with post-learning stress: interaction with the degree of arousal at encoding. Learn Mem. 2003 Jul-Aug;10(4):270-4. doi: 10.1101/lm.62403. PMID: 12888545; PMCID: PMC202317.

References (II)

education

Learning & Education

How to Earn While you Learn

How much money would you need to retire today and never have to work again? If you’re planning to retire at 65, that figure may seem distant and amorphous. You’re saving as much as you can today so that you can enjoy life as much as possible when you eventually leave your job.

F  I  R  E

For adherents to the <a href="https://www.cnbc.com/2022/09/15/downsides-of-early-retirement-according-to-a-37-year-old-retiree.html">financial independence, retire early </a>, or FIRE, movement, that figure is much more concrete. “Your FIRE number is the amount of money you need to live on for the rest of your life,” says <a href="https://www.cnbc.com/2022/10/06/grant-sabatier-reacts-to-couple-retired-in-portugal-with-2point2-million-dollars.html">Grant Sabatier </a>, creator of financial site Millennial Money and the author of “Financial Freedom.” For many aspiring early retirees, calculating that number comes with an easy shorthand: “The way you calculate your FIRE number is multiplying your expected annual expenses by 25x,” says Sabatier, who <a href="https://www.cnbc.com/2019/01/09/millionaire-grant-sabatiers-best-advice-for-building-wealth-quick.html">reached financial independence at 30 </a>. “Meaning if you spend $40,000 a year, multiplying that $40,000 by 25 would get you to a million dollars.”

As with any other one-step financial calculation, the FIRE number math is based on several assumptions and will vary based on your financial situation. Here’s what retirement experts say you need to know to figure out how much money you’ll need to retire.

Disclaimer

The FIRE number calculation is rooted in the so-called “4% rule,” which was popularized in an influential 1998 research report known as the “Trinity study.” Included in the research was an examination of past market performance to determine a safe withdrawal rate in retirement. The conclusion: In 99% of cases, retirees could withdraw 4% per year, adjusted for inflation, from a portfolio of stocks and bonds without running out of money. When calculating your FIRE number, remember that the multiple of 25 is really just an easier way of dividing by a 4% withdrawal rate. Returning to to Sabatier’s earlier example, if you intend to spend $40,000 a year in retirement, divide by 0.04 to get to your million dollars.

The math behind the FIRE number calculation

As Sabatier points out, some more recent studies suggest it may be wiser to aim for a lower withdrawal rate if you’re hoping for an extended retirement. <a href="https://www.morningstar.com/content/dam/marketing/shared/pdfs/Research/state-of-retirement-income.pdf">Researchers at Morningstar </a>peg the safe withdrawal rate at somewhere between 3.3% and 4%, accounting for factors such as relatively low yields in the bond market and relatively high valuations on stocks (which tend to dampen future returns). If you do calculate your FIRE number and find yourself getting overwhelmed by a huge number, remember that you don’t have to get there all at once, says Sabatier.

Additional Notes

Be prepared for retirement with this simple formula

Your FIRE number is the total amount of money you need to be able to consistently withdraw from for the rest of your life.

career

Career

Here's how to calculate how much money you need 'for the rest of your life' after retire

This post will give you•A step by step process for finding dividend stocks•Ensuring that they are quality•A long term plan for wealth Disclaimer:*This thread is not investment advice*

Content & Disclaimer

Step 1 •Make a list of 8-10 dividend stocks that you are interested in buying•This list should contain companies that you are familiar with or have heard of before •Understanding how the company makes money is essential to begin the process

Find The Stock

Step 2 •As mentioned above, understand how the company makes money•Research their industry, their business model, and who their competition is •These are all basic searches and shouldn’t be hard to find

Do Your Research

Step 3 •Most major companies will have an “investors” tab somewhere on their website•Find this page and see what it contains•This page should have a lot of the information that you need to make informed decisions

More Research

Step 4 •Do some math. There are a few basic formulas to analyze. I promise it’s nothing you can’t handle Formulas:-Dividend yield-Dividend payout ratio-Dividend growth rate-Free Cash Flow payout

Calculate It

Step 4 continued •Dividend yieldThis is simply a calculation of the yearly dividend divided by the stock priceA yield that is too low (<1%) indicates that the company doesn’t make the dividend a priorityA yield that is too high (>6%) could indicate a struggling business

Dividend Yield

Step 4 continued •Dividend payout ratioThis tells us what % of net income is paid out in the form of dividends. A healthy % to look for is 30% to 50%This range indicates that the company is paying out a solid portion of their earnings but keeping cash on hand to growREITs are required to pay out 90% of their net earnings in the form of dividends so their payout ratio’s will look very high

Dividend Payout Ratio

Step 4 continued •Dividend growth rateThis information can be found on multiple different sites including the investors page on the companies websiteHistorically I look for a 10 year dividend growth rate that is outpacing inflation*This has become a challenge nowadays*

Dividend Growth Rate

Step 4 continued •Free Cash Flow payout This ratio is very similar to the dividend payout ratio but it uses free cash flow instead of net incomeThe formula is annual dividend per share dividend by free cash flow per shareI look for a number below 70%FCF payout allows you to have a better economic outlook on the business because net earnings can cover up some business flaws

Free Cash Flow Payout

Step 5 •We are done digging in and looking under the hood at some of the financial metrics•The next step is to supplement your own research with some quick searches on a few of your favourite sites

See Their Current Trend

Step 7 •You are ready to begin investingHopefully by now you have narrowed your selection down to some high quality dividend stocksStart buying a few shares and get comfortable with the processRemember, you are making a long term decision when you decide to buy

First Buy

Step 8 •Companies change and plans change Keep up with the companies you ownRead:-earnings reports-news headlines-industry info Your investment research shouldn’t stop when you buy a stock, it should continue as long as you hold it

Keep Updated

A simple basic guide to find a good stock to invest. A thread from @HeroDividend on twitter.

How to find the BEST dividend stocks for your portfolio

College teachers do not have the time — and are not required — to coddle students who are struggling before freaking out when it's the end of the semester and grades are due.When you are struggling with anything, communicate this to the adult in charge. Be proactive and honest, and take responsibility for your part in the problem. Being polite about it is important, too.

1) Communication - Clear & Honest

Many freshmen get a major taste of freedom in college and make poor dietary choices — gaining 15, or more, pounds during their first semester.They don't have their parents preparing and serving them meals anymore. Between the meal card and the access to alcohol, students can quickly spiral. So take charge of your own health. Utilize university fitness center. Seek assistance from the university's mental-health-service center.

2) Take Charge Of Your Health 

Many students rack up debt — and quickly. The taste of college freedom can feel euphoric, and students don't always make the best financial decisions; they're too busy having fun.Learn to budget your funds and keep track of your money. Make sure that you have opportunities to earn your own money - because people treat money differently when they realize how hard it is to earn.

3) Learn How To Manage Money

Many students are not ready for life beyond high school, and it isn't their fault. They need to learn some basics before they walk across the stage and accept their diploma.

The author taught in college for nine years and shares three things all parents should be teaching their kids before they head out to college.

parenting

Parenting

Learn these 3 life skills before you're done with high school.

There are various opinions and definitions on what Web3 is, let's have a look to a few mentioned:<ul><li>"A decentralized online ecosystem based on blockchain." - Gavin Woods</li><li>"An internet without Amazon, Google, and Microsoft." - Michael del Castillo, Forbes</li><li>"More a marketing buzzword than reality." - Elon Musk</li><li>"Something new and exciting which somehow involves blockchain."</li></ul>

What is Web3?

Blockchains are extremely painful to use for various reasons:<ul><li>Limited transactions</li><li>Congestion</li><li>Cost</li><li>Limited compute</li><li>Limited storage</li></ul>But despite that it has three features which make it absolutely unique:<ul><li>Trustless event ordering</li><li>Transparency</li><li>Immutability</li></ul>"Blockchain makes sense to use when trustless event ordering, transparency and immutability are absolutely essential."

Blockchain Use

Let's have a look to different situations where Trustlessness and transparency really matter:<ul><li>International borders</li><li>Powerful monopolies</li><li>War, disagreement, instability, mistrust</li><li>Employees and customers scattered around the world</li><li>Absence of courts and police</li><li>Corruptions, theft</li></ul>

Where/when do Trustlessness and Transparency Matter?

"The more of these attributes come together, the more of a compelling blockchain and web3 usecase there probably is."

Let's say you spot a project which offers a 18% guaranteed returns using web3.Now you should ask yourself:<ul><li>What do high guaranteed returns have to do with trustlesness, immutability, and transparency?</li></ul>Nothing... In this case we see a lack of basic connection.

1st Practical Examples on Web3 Use

In this case we have a Unicef project which aims to support internet access accross South America and Africa. And it operates as follows:<ul><li>Smart contract disperses funds only to schools with a working internet connection.</li><li>Donors watch funds flow in real time to connected schools.</li><li>Blokchain allows having a transparent record system.</li></ul>

2nd Practical Examples on Web3 Use

In this last examples let's imagine this scenario: Artist/Programmer/Refugees living in 18 countries want to start a company/collective/organization. The following doubts arise:<ul><li>Which currency is the special one?</li><li>Which country is the special one?</li><li>Open bank accounts is 18 countries?</li><li>How to govern company?</li><li>Audit the books - employees, local tax authorities...</li><li>Blockchain makes all of these transparent.</li></ul>

3rd Practical Examples on Web3 Use

"Smart contract built on a decentralized system which connects real world events to the flow of money begins to make a lot of sense."

Even with overwhelming rationale for blockchain, still need to deal with:<ul><li>Scaling</li><li>Compute</li><li>Storage</li><li>Transaction/s</li><li>Congestion</li><li>Cost (inverse unit economics)</li><li>Carbon Footprint</li></ul>

Blockhain: Painful but Beatiful

"Summarizing, if someone comes to you and promises you a lot of cash quickly and easily that's not really a web3 project.Instead what we're looking for are a combination of attributes that are forcing that project to use decentralized systems despite all their problems."

Web3 isn't inherently a scam, it all depends on the purpose, community and goal of the project.In this TED Talks he gives us guidelines on how to make good project judgements without falling for scams.

Is Web3 a Scam?

In this brief but intense TEDxTalks Jan Liphardt gives us guidelines and tools to detect scams on the now famous Web3.

I provide a framework and tools to assess how #web3 provides value and how to separate fact from fiction in the web3 space. Blockchains can be painful but beautiful - this means that sustainable opportunities where a web3 solution makes sense are nuanced. Jan is an Associate Professor of Bioengineering at Stanford University and a Professor in Residence at StartX. For his Ph.D. work at Cambridge University, he used computers, information theory, and statistics, such as stochastic context free grammars, to find patterns in genomes. He was a physics professor at UC Berkeley until 2013, when he moved to Stanford. In 2016, he worked with Joe Biden’s cancer moonshot initiative and a social network to help patients share sensitive medical data. Jan cofounded Enya in 2018 as a way to reframe how sensitive information flows through the internet and how data analytics can be better balanced with privacy. Jan is a Sloan Research Fellow and a Searle Scholar. At Stanford, Jan focuses on privacy preserving digital health and he teaches a blockchain / distributed systems class. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

crypto

Cryptocurrency

technologyandthefuture

Technology & The Future

I provide a framework and tools to assess how #web3 provides value and how to separate fact from fiction in the web3 space.  Blockchains can be painful but beautiful - this means that sustainable opportunities where a web3 solution makes sense are nuanced.   

Jan is an Associate Professor of Bioengineering at Stanford University and a Professor in Residence at StartX. For his Ph.D. work at Cambridge University, he used computers, information theory, and statistics, such as stochastic context free grammars, to find patterns in genomes. He was a physics professor at UC Berkeley until 2013, when he moved to Stanford.

In 2016, he worked with Joe Biden’s cancer moonshot initiative and a social network to help patients share sensitive medical data. Jan cofounded Enya in 2018 as a way to reframe how sensitive information flows through the internet and how data analytics can be better balanced with privacy.

Jan is a Sloan Research Fellow and a Searle Scholar. At Stanford, Jan focuses on privacy preserving digital health and he teaches a blockchain / distributed systems class. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

TEDx is an international community that organizes TED-style events anywhere and everywhere -- celebrating locally-driven ideas and elevating them to a global stage. TEDx events are produced independently of TED conferences, each event curates speakers on their own, but based on TED's format and rules.

TED's videos may be used for non-commercial purposes under a Creative Commons License, Attribution–Non Commercial–No Derivatives (or the CC BY – NC – ND 4.0 International) and in accordance with our TED Talks Usage Policy (https://www.ted.com/about/our-organization/our-policies-terms/ted-talks-usage-policy). 

For more information on using TED for commercial purposes (e.g. employee learning, in a film or online course), please submit a Media Request here: https://media-requests.ted.com.

TEDx Talks

Is web3 a scam? | Jan Liphardt | TEDxBostonStudio

1.Don’t Be Afraid to Make Mistakes: Try to learn from your mistakes—better yet, learn from the mistakes of others!2.Don’t Borrow Money: Think twice before you either borrow money or loan money to someone—especially a friend.3.Love What You Do: Following your passion is the key to success.4.Make Time for Both Work and Play: It is important to make the right trade-offs between work and play so we live a balanced lifestyle.

Warren Buffett's 26 Secrets to Success in the Business of Life:

“The best way to pay back a debt is to never have one.”

5.Listen to What Others Can Teach You: The experience of others is the best classroom you will ever find!6.Always Think of New Ideas: Try to come up with alternate ways of doing things.7.Always Have a Plan: When you fail to plan, you plan to fail.8.If You Fail, Try Again: Failure is not falling down; it is staying down.9.Protect Your Reputation: It takes years to build a reputation but only minutes to ruin it.

10.The Customer Comes First: Take care of your customer and your customer will take care of you.11.Open Minds Let In Better Ideas!: Opening your mind can open the door of success.12.Always Promote Yourself: Successful businesses successfully promote and advertise themselves.13.Location Is Very Important: Location is a vital part of most businesses.

“The first three rules for making friends are: Be pleasant, be respectful, and care for others. The fourth rule is to pay attention to the first three rules!”

14.Don’t Be Fooled: If it seems too good to be true, it probably is.15.Don’t Judge Others: With businesses, like with people, you should get to know them before you judge them.16.Be Willing to Change Your Ideas: Chains of habit are too light to be felt until they are too heavy to be broken.17.Your Image Is Important: Price is on the price tag; value is in the eye of the beholder.

18.Be Thoughtful of Others: If your service is outstanding, you’ll always stand out.19.Pay Attention to Details: A good business is disciplined to do the little things right every day.20.How to Present Yourself: It’s not just the outside that counts. It’s the whole package.21.Your Decisions Affect Your Future: Make sure you stay in school. Failing to complete your education can lead to not achieving your dreams in the future.

22.Save for the Future: Save money for things you need instead of spending it all on things you want!23.Be Someone in Demand: Prices are determined by supply and demand.24.Confidence Comes with Understanding: Don’t get involved in a business you don’t understand.25.A Lifetime of Learning: Be smarter at the end of the day than you were at the beginning.26.Partners Make it Easier: Great partnerships will make any job easier.

"A penny saved is a penny earned!"

<ul><li>Do all the little things right every day, then the big things will follow.</li><li>Treat other people the way you would like to be treated—that’s the best advertisement of all!</li><li>One of the best ways for a business to stand out is for it to be respectful of its customers, to care for them as if they were friends. Customers almost always prefer to do business with companies that treat them with respect.</li></ul>

Respect The Customers

“In life, we are all subject to the simple law that there are two things that everyone can supply without limitation: knowledge and love. Do your best to share both of these with others.”

“The more you learn, the more you’ll earn”

Warren Buffett's 26 Secrets to Success in the Business of Life..

Priceless finance advice everyone can relate to from one of theworld's most respected businessmen and the most successful investorof all time Of course you know who Warren Buffett is; he's the mostsuccessful investor in the world—maybe of all times. But whatdo you know about his approach to business and investing? It's anapproach that, over the past four decades, has made him richest manin America and the third-richest man in the world, and that hasearned vast fortunes for his business partners and investors. Butas Buffett himself will tell you, at the heart of anywealth-building system there are certain core beliefs, not justabout finance, but about business, work, morality, yourresponsibility to yourself, your family and society, and aboutliving a decent life. Written in conjunction with the hittelevision series, "Secret Millionaire Club" and with Buffett'sinput and full support, this book makes Buffett's financialphilosophy and homespun life lessons available to everyone outsidehis "Secret Club." Warren Buffet's goal in spearheading this book was to sharelessons about personal finance he has learned and that he hopeswill benefit you (and your kids) for a lifetime You'll learn the fundamentals of personal finance by readingWarren Buffett's war stories and personal reflections on money,life, business, ethics and more All of the finance principles covered in the book werepersonally approved by Warren Buffett as those which he himselffollows Unforgettable Buffett quotes include: "Price is what you pay.Value is what you get"; "Risk comes from not knowing what you'redoing"; and "Profit from folly rather than participate in it."

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Priceless finance advice everyone can relate to from one of the world's most respected businessmen and the most successful investor of all time Of course you know who Warren Buffett is; he's the most successful investor in the world—maybe of all times. But what do you know about his approach to business and investing? It's an approach that, over the past four decades, has made him richest man in America and the third-richest man in the world, and that has earned vast fortunes for his business partners and investors. But as Buffett himself will tell you, at the heart of any wealth-building system there are certain core beliefs, not just about finance, but about business, work, morality, your responsibility to yourself, your family and society, and about living a decent life. Written in conjunction with the hit television series, "Secret Millionaire Club" and with Buffett's input and full support, this book makes Buffett's financial philosophy and homespun life lessons available to everyone outside his "Secret Club." <ul> <li>Warren Buffet's goal in spearheading this book was to share lessons about personal finance he has learned and that he hopes will benefit you (and your kids) for a lifetime</li> <li>You'll learn the fundamentals of personal finance by reading Warren Buffett's war stories and personal reflections on money, life, business, ethics and more</li> <li>All of the finance principles covered in the book were personally approved by Warren Buffett as those which he himself follows</li> <li>Unforgettable Buffett quotes include: "Price is what you pay. Value is what you get"; "Risk comes from not knowing what you're doing"; and "Profit from folly rather than participate in it."</li> </ul>

Andy Heyward

Amy Heyward

Secret Millionaires Club

<ul><li>Strategy diversification</li><li>Risk management</li><li>System / Process for strategy creation</li><li>Following the system strictfully and planning the entries or exits beforehand</li><li>Pick uncorrelated strategies</li><li>Test the strategies using backward and forward testing</li><li>Diversify in different markets</li><li>Find aplhas or inaccuracies in the market and capitalize on it</li><li>Use machine learning to find alphas or inaccuracies in the market</li></ul>

Profitable Using Algo Trading

60% of well tested strategies are profitable in the long run according to Kevin Davey<ol><li>Create strategies</li><li>Optimize strategies</li><li>Backward and forward test strategies (optimized and not)</li><li>Cherry pick strategies after 100+ trades or more trades</li><li>Live trade it and document results</li></ol>

Create, Optimize And Test Many Strategies

Strategies that works but some algo traders are against these methods. <ul><li>Buy them cheap - when the market is going down and on sale just buy the stocks you think is on sale and that you believe will go up in the future.</li><li>DCA - dollar cost averaging, continue averaging as the asset goes down.</li><li>Grid Trading - most effective when market is ranging instead of trending.</li></ul>

Anti Algo Trading Strategies

Minimize the risk and maximize the gains. You can minimize the risk and maximize the profit by risking 1 to 5% of your equity per trade. This way: everytime you lose the allocation grows smaller and everytime you win the allocation grows bigger. Also this gives us the chance to compound our wins.

Risk Management

The easiest strategy to create by far since you just need to determine whether the asset is uptrend/downtrend. Also almost any assets either trends or ranges. The simplest trend following strategy is to: <ul><li>buy/long when price is above the 200 EMA line and </li><li>sell/short when price is below the 200 EMA line.</li></ul> You can also use other indicators or analyze other assets that tells whether the current asset you are trading is trending up or down.

Trend Following Strategy

Most often these strategies uses RSI or indicators that tells if there is a long or short momentum. If the buyers are coming in then there is a momentum upwards. Meaning you expect the price to continue upwards. It the momentum is on the bear side then you expect the price to continue downwards. Most of the time I use Trend Following Strategies together with Momentum Strategies for a higher probability of winning. It's easier to always trade with the trend.

Momentum Strategies

List of idea that could improve profitability:<ul><li>Use machine learning to predict price. Simplest is to use price closes and the percent change from current to last x bars as model input.</li><li>Check the correlation of an asset with its main index. Find assets that follows the movement of main index.</li><li>Listen to news that can affect the asset/s you trade.</li><li>Use mathematical formula or statistics to find alphas on the asset or market.</li><li>Create a websocket that listens and gets order books for every buy or sell in an asset, record it and then later you can process it using machine learning.</li></ul>

Coulds 1???

<ul><li class="ql-align-justify">Create a websocket that saves transaction, price plus volume and order book of an asset. Best for machine learning.</li><li class="ql-align-justify">Save first all the elements in database like: open, high, low, close, time, volume then use it as input for machine learning.</li><li class="ql-align-justify">Use process of elimination. Find indicators that work and then combine them with each other. </li></ul>

Coulds 2???

Beating The Market by Trading Bots

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