Best Replies Ever

This might be the best thing I’ve seen in a while :

A reply from CEO of J.P. Morgan to a pretty girl seeking a rich husband

A young and pretty lady posted this on a popular forum:

Title: What should I do to marry a rich guy?

I’m going to be honest of what I’m going to say here.
I’m 25 this year. I’m very pretty, have style and good taste. I wish to marry a guy with $500k annual salary or above.
You might say that I’m greedy, but an annual salary of $1M is considered only as middle class in New York.
My requirement is not high. Is there anyone in this forum who has an income of $500k annual salary? Are you all married?
I wanted to ask: what should I do to marry rich persons like you?
Among those I’ve dated, the richest is $250k annual income, and it seems that this is my upper limit.
If someone is going to move into high cost residential area on the west of New York City Garden(?), $250k annual income is not enough.
I’m here humbly to ask a few questions:

1) Where do most rich bachelors hang out? (Please list down the names and addresses of bars, restaurant, gym)
2) Which age group should I target?
3) Why most wives of the riches are only average-looking? I’ve met a few girls who don’t have looks and are not interesting, but they are able to marry rich guys.
4) How do you decide who can be your wife, and who can only be your girlfriend? (my target now is to get married)
Ms. Pretty

A philosophical reply from CEO of J.P. Morgan:

Dear Ms. Pretty,
I have read your post with great interest. Guess there are lots of girls out there who have similar questions like yours. Please allow me to analyse your situation as a professional investor.
My annual income is more than $500k, which meets your requirement, so I hope everyone believes that I’m not wasting time here.
From the standpoint of a business person, it is a bad decision to marry you. The answer is very simple, so let me explain.
Put the details aside, what you’re trying to do is an exchange of “beauty” and “money” : Person A provides beauty, and Person B pays for it, fair and square.
However, there’s a deadly problem here, your beauty will fade, but my money will not be gone without any good reason. The fact is, my income might increase from year to year, but you can’t be prettier year after year.
Hence from the viewpoint of economics, I am an appreciation asset, and you are a depreciation asset. It’s not just normal depreciation, but exponential depreciation. If that is your only asset, your value will be much worse 10 years later.
By the terms we use in Wall Street, every trading has a position, dating with you is also a “trading position”.
If the trade value dropped we will sell it and it is not a good idea to keep it for long term – same goes with the marriage that you wanted. It might be cruel to say this, but in order to make a wiser decision any assets with great depreciation value will be sold or “leased”.
Anyone with over $500k annual income is not a fool; we would only date you, but will not marry you. I would advise that you forget looking for any clues to marry a rich guy. And by the way, you could make yourself to become a rich person with $500k annual income.This has better chance than finding a rich fool.

Hope this reply helps.

signed,
J.P. Morgan CEO 

WHAT THE HELL IS PROJECT MANAGEMENT, ANYWAY?

Project management seems like a classic chicken-and-egg career conundrum: How do you prove you’re adept at managing projects if you haven’t worked as a project manager? Beyond that, what does project management really entail, and how is it different from, you know, being a manager? And what tools do the pros actually use, since there seem to be a new one released every week?

“PROJECT MANAGEMENT” CAN SOUND LIKE EVERYTHING AND NOTHING ALL AT ONCE. WE SPOKE WITH A PROJECT MANAGEMENT PRO TO CLARIFY WHAT IT REALLY MEANS TO GET PEOPLE MOVING IN THE SAME DIRECTION.

To better understand some of the managerial speak around project management, I spoke with a 20-year veteran of the field, Frank Ryle. He’s worked as an international project manager for Arup International, managed construction and operation of the first Cadbury Schweppes factory in Russia, and now trains and teaches project management. Ryle analogizes project management to a nine-hole golf metaphor in his book, Keeping Score: Project Management for the Pros, available now as an ebook and due out soon in paperback.
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Accomplish Any Goal by Doing Something Small, Every Day

Accomplish Any Goal by Doing Something Small, Every DaySEXPAND

It takes time to do anything worthwhile, but thankfully, we don’t need it all in one chunk. So this year, forget about the year as a whole. Forget about months and forget about weeks.

Focus on days.

This post originally appeared on Austin Kleon’s blog.

The day is the only unit of time that I can really get my head around. Seasons change, weeks are completely human-made, but the day has a rhythm. The sun goes up; the sun goes down. I can handle that.

There’s a reason many recovering alcoholics adopt “one day at a time” as their way of being. Here’s Richard Walker in Twenty-Four Hours A Day:

Anyone can fight the battles of just one day. It is only when you and I add the battles of those two awful eternities, yesterday and tomorrow, that we break down. It is not the experience of today that drives us mad. It is the remorse or bitterness for something that happened yesterday or the dread of what tomorrow may bring. Let us therefore do our best to live but one day at a time.

Building a body of work (or a life) is all about the slow accumulation of a day’s worth of effort over time. Writing a page each day doesn’t seem like much, but do it for 365 days and you have enough to fill a novel.
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5 Principles for Moral Leadership

Accomplished leaders are like master craftsmen: their first principles are best practices, the felt wisdom of experience and reflection.

Take Benjamin Franklin. In his Autobiography, he describes 13 precepts for self-improvement he coined as a young man. They include Resolution (“Resolve to perform what you ought; perform without fail what you resolve”), Industry, (“Lose no time; be always employ’d in something useful; cut off all unnecessary actions”), and Order (“Let all your things have their places; let each part of your business have its time”).

When the penniless printer from Philadelphia became one of the leading men in America, his admirers understood the enormous benefit his example could provide. “[Y]ou yourself framed a plan by which you became considerable,” observed one, who implored Franklin to share it in hopes of “aiding all happiness, both public and domestic.”
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Will Smart Machine Create a World without Work?

Paul Wiseman and Bernard Condon, The Associated Press, Washington | World | Fri, January 25 2013, 12:22 PM

They seem right out of a Hollywood fantasy, and they are: Cars that drive themselves have appeared in movies like “I, Robot” and the television show “Knight Rider.”

Now, three years after Google invented one, automated cars could be on their way to a freeway near you. In the US, California and other states are rewriting the rules of the road to make way for driverless cars. Just one problem: What happens to the millions of people who make a living driving cars and trucks —jobs that always have seemed sheltered from the onslaught of technology?

“All those jobs are going to disappear in the next 25 years,” predicts Moshe Vardi, a computer scientist at Rice University in Houston. “Driving by people will look quaint; it will look like a horse and buggy.”

If automation can unseat bus drivers, urban deliverymen, long-haul truckers, even cabbies, is any job safe?

Vardi poses an equally scary question: “Are we prepared for an economy in which 50 percent of people aren’t working?”
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Speak First and Confidently!

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1) How do you motivate people?

What’s the biggest motivator? Progress.

Via The Progress Principle: Using Small Wins to Ignite Joy, Engagement, and Creativity at Work:

…of all the positive events that influence inner work life, the single most powerful is progress in meaningful work; of all the negative events, the single most powerful is the opposite of progress—setbacks in the work. We consider this to be a fundamental management principle: facilitating progress is the most effective way for managers to influence inner work life.

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Rokok vs Investasi?

Tidak sedikit dari Anda yang memandang rokok sebagai bagian dari gaya hidup. Dan walaupun mayoritas perokok telah mengetahui dampak negatif tembakau bagi kehidupan mereka, hal ini sepertinya belum cukup bila dibandingkan dengan apa yang bisa mereka peroleh dari merokok. Sebagian pria beranggapan bahwa menghisap rokok dapat membuat mereka lebih percaya diri dan terlihat maskulin. Tetapi masihkah Anda berpikiran demikian, setelah mengetahui keuntungan apa sajayang bisa Anda peroleh dengan mengorbankan rokok?
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Horizon Investasi, anda dimana?

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Salah satu aspek penting dalam berinvestasi, yang membedakan portfolio investor satu dengan yang lainnya, adalah penentuan jangka waktu investasi. Aspek ini begitu penting sehingga sering kali didiskusikan dari waktu ke waktu. Menariknya, pada kenyataannya definisi tentang batas waktu (time-frame) antara satu pelaku investasi dengan investor yang lainnya bisa berbeda-beda. Misalnya tentang istilah jangka pendek. Ada yang bilang itu di kisaran menit sampai satu atau dua hari, tetapi di kutub lainnya ada yang sebutkan itu adalah untuk waktu sampai dengan satu tahun. Bagaimanapun, ini adalah komponen penting dalam berinvestasi. Karenanya, mari kita dalami.

Istilah dari jangka waktu investasi atau sering disebut dengan “Time Horizon†pada prinsipnya merupakan periode waktu dari sejak investasi dipilih dan diambil sampai saat asset tersebut dicairkan (likuidasi). Range-nya untuk jangka waktu ini bisa begitu panjang. Dari sekian menit sampai investasi yang ditahan berpuluh tahun lamanya. Sebenarnya tidak ada jangka waktu yang benar “pasâ€, itu akan tergantung sekali kepada jenis asset investasi, preferensi risiko, tujuan utama investasi sampai kepada gaya atau perilaku investasi si pelaku investasi itu sendiri.
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How Draghi Opened The Door To Hyperinflation And Denied The Fed An Exit Strategy

We finally heard the intentions of Mr. Draghi, President of the European Central Bank (“ECB”). We only need to know the conditions Germany’s Verfassungsgericht will impose on September 12th. We believe they will be relevant.

On Thursday, Draghi told us he intends (1) to purchase sovereign debt in the secondary market, (2) that before he does so, the issuing country must submit to certain conditions within a fiscal adjustment program, (3) that when he finally buys the debt, he will buy any debt (new or outstanding) with a maturity lower than three years, (4) that after buying it, he will sterilize the transaction, (5) that the collateral pledged so far for liquidity lines will not be subject to minimum credit ratings any longer, (6) that the ECB will accept to rank pari-passu with other creditors going forward, and (7) that the Securities Market Programme will be terminated, with the purchased debt held until maturity. According to Mr. Draghi (but not toGermany), buying debt with a tenor lower than three years does not constitute government financing. The number three, it seems, is a magical number.

We will mince no words: Mr. Draghi has opened the door to hyperinflation. There will probably not be hyperinflation because Germany would leave the Euro zone first, but the door is open and we will explain why. To avoid this outcome, assuming that in this context the Eurozone will continue to show fiscal deficits, we will also show that it is critical that the Fed does not raise interest rates. This can only be extremely bullish of precious metals and commodities in the long run. In the short-run, we will have to face the usual manipulations in the precious metals markets and everyone will seek to front run the European Central Bank, playing the sovereign yield curve and being long banks’ stocks. If in the short-run, the ECB is the lender of last resort, in the long run, it may become the borrower of first resort!

The policy of the ECB resembles that which the central bank of Argentinaadopted in April of 1977, which included sterilization via issuance of debt. This policy would result in the first episode of high inflation eight years later, in 1985 and generalized hyperinflation in 1989. Indeed, Argentina’s hyperinflation was not caused by the primary fiscal deficit of the government, but by the quasi-fiscal deficit suffered by its central bank. We will not elaborate on a comparison today, but will simply show how the Euro zone can end up in the same situation. To those interested in Argentina as a case study, we recommend this link (refer section II.2 “Cuasifiscal Expenditures”, page 13 of the document)

The Death of Call Center??

The rapid growth of smartphone adoption is changing every facet of our lives. From Siri, Apple’s virtual personal assistant, to the thousands of mobile applications that entertain and educate us, we have become an always-connected society.

Pew Internet & American Life Project reported that smartphone users have now surpassed basic phone users. Gartner predicts that mobile phones will overtake PCs as the most common web access devices worldwide. WiFi is so widely available in major metropolitan areas that most tablet users don’t even need wireless data plans. Finally, tablet sales grew 264% in 2011 over the previous year, and this year, Yankee Group predicts the sale of almost 25 million tablets in the U.S. alone.

What does this data mean for companies looking to engage with a connected audience? Consumers are now demanding communication with their providers, on their terms, which in most cases, means through their connected devices.

What does this mean for the call center? Well, it will cease to be the primary interaction channel between companies and their customers. The smartphone will become the contact center of the future.

It won’t happen all at once, and certainly not everyone will prefer this channel. However, both consumers and businesses will benefit significantly, leading to a major communication shift by the end of 2012.

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Gold as an Investment?

Numerous commentaries in the media, both on television and in print, would have us believe that gold is a bad investment. Headlines warning investors to avoid the yellow metal are commonplace. Examples such as “Five reasons not to own gold”, “Gold is in a bubble”, “Gold as an investment – think again”, “Gold is a bad hedge”, “Gold is a pointless rock,” and “Why gold is a bad investment” can be found with a simple Google search on gold and investment.

Each of the above points are addressed and debunked in the BMG Special Report, ‘Six Biggest Myths About Gold’ which readers of this article are strongly encouraged to read and which can be downloaded for free at http://www.goldmyths.com

These articles miss the point, because they treat gold as an investment. To fully understand gold’s role in an investment portfolio, we need to adopt a new mindset, a gold mindset.

Simply put, gold is not a bad investment, and gold is not a good investment. Gold is not an investment at all – gold is money.

While many people believe gold is an archaic relic that has no role in today’s sophisticated, computerized, paper-based monetary system, three facts contradict this popular misconception:

1. Gold, silver and platinum are traded on the currency desks of the major banks and brokerage houses, not the commodity desks. Traders understand gold is money to be traded against paper currencies. 2. The world’s central banks hold about 30,000 tonnes of gold in reserves. While there has been a lot of media attention given to central bank sales in the past, gold holdings have only declined by about 2,000 tonnes since 1980. Central banks have become net buyers since 2009 and have been adding gold to their currency reserves. Central bankers understand gold is money. 3. The turnover rate between members of the London Bullion Market Association is over $20 billion per day, with volume estimated at five to seven times that amount. Clearly, this has nothing to do with jewelry sales and everything to do with the exchange of money

The definition of “investment” is the commitment of money or capital to purchase financial instruments or other assets in order to gain profitable returns in the form of interest, income or appreciation of the value of the investment. Through this transfer of capital, in the expectation of a profit, an investor gives up their capital and puts it at risk. The investor receives a return in dividends or interest as compensation because their capital is at risk; they may get back less than they invested, or they may get back nothing at all.

However, physical gold bullion or physical paper currencies locked in a vault are not invested; they are simply being stored. Since neither is invested, they don’t earn interest or dividends, but they don’t have any counterparty risk. The major difference between gold and currencies kept in a vault, however, is that gold’s purchasing power increases while paper currencies lose purchasing power year after year.

Both gold and currencies can be taken out of the vault with ease, and the proceeds invested by giving them to someone else in return for dividends or interest. An interesting perspective can be gained by calculating whether the proposed investment is likely to return more gold ounces than were originally invested. For example, the 44 ounces of gold required to purchase the Dow in 2000 has now dwindled to fewer than nine ounces. Might as well have left the gold in the vault. Since gold maintains and even increases in purchasing power, there is no need to put it at risk in order to earn a minimal amount of interest or dividends.

Figure 1 illustrates how gold has not only preserved but also increased its purchasing power from 1971, when the gold standard was abandoned, to 2011.

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Figure 2 illustrates how all of the major currencies have declined over the last decade when measured by gold ounces.

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It is crucial to recognize that physical gold bullion, held directly or on an allocated and insured basis in a vault, is not an investment because it is not someone else’s promise of performance or someone else’s liability, and as a result has no counterparty risk. All other forms of gold ownership are, in fact, investments. Paper gold certificates, unallocated bullion accounts, ETFs, shares in gold mining companies and futures contracts all have counterparty risk, and are either someone else’s promise of performance or liability. They may have their place in a portfolio, but they are all investments. We hold physical gold in a vault, we hold physical currencies in a bank, but we invest in financial assets.

By : Nick Barisheff, As President of Bullion Management Group Inc. (http://www.bmginc.ca)

Starting a ‘Right’ Business??

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Do you dream of the day you can start your own business? Take control of the reins, set your own schedule and make your own decisions?

In these days of economic uncertainty when layoffs and unemployment rates dominate the news, the idea of starting a business no longer seems all that much riskier than the traditional nine-to-five office job.

Now that you’ve decided to take the plunge into entrepreneurial life, do you know how to choose the type of business that’s right for you? What industry and business would make the best use of your specific abilities and assets? Here are six tips for selecting the business that’s right for you:

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The managerial culture in Indonesia

Cultural unfit presumptions were imposed based on common comparison between Indonesian origins and Chinese, whom had played economic role successfully in the country. perspectives on Indonesian work orientations found: (a) no speculation on working and life, (b) working hard is attempted just to “get food for survival for day”, and short term basic need orientation; (c) trying to get harmony with nature and stressing maintenance; (d) orientation to the present time, and (e) social contact for economic survival or business are changed to group maintenance, with proverbs “eat or not, but live together.” Among elite groups, cultural work values were identified with (a) aims of living and working are for status, power and symbol of prosperity, (b) doing business, consulting business, farming, trading and manufacturing are given low values, and (c) there are ‘amal’ concept, oriented to achieve symbol for power, status, and prosperity, not for achievement (Kartodirdjo, 1982). Indonesians are characterized with (a) normative work obligation to work and help group members without asking entitlement for rewards (gotong royong), and (b) orientation to vertical line.

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