Dien Rice
May 25, 2001, 02:46 PM
Hi Gordon!
Wow, fantastic post! I do tend to be one of those who thinks things are "in-between" total control and forces outside of your control....
However, as you point out, only 5-10% of events are purely random.... Everything else you have some control over....
> but take a real life example, Dr. Dien
> Rice....
> not long ago Dien's thoughts were in
> Academia. He had to think about projects,
> research and faculty staff and advisors.
> His mind was filled with the routine of
> being in and at the University on a full
> time basis.
> NOW, he has chosen to pursue BUSINESS, and
> in the last year has immersed himself in
> studies pertaining to business. He has
> learned a lot.
> NOW his actions are starting to be BIZ based
> as opposed to Academic, although he gets to
> study and continue his research on his own
> terms...much more satisfying and enjoyable.
> He might be considered LUCKY to have the
> time to pursue other endeavors. His
> investment strategy might be LUCKY too,
> those without knowledge of what and how he
> does it might say too.
> LUCK has nothing to do with ROI in his stock
> portfolio, because he assumes responsibility
> for it.
> Now that Dien is actually engaged in making
> TRANSACTIONS, his thinking attunes to
> different etheral sinks...and acts as a
> magnet to another deal, then another one.
Heheh, it's interesting you mentioned this....
I'm looking at a deal right now (as I scale up my own chatteling)....
Tomorrow I'm going to be looking at all the stock from a bankrupt CD store.... CDs, DVDs, t-shirts, posters, racks for the CDs, etc. They're selling all the stock as one lot, and from the description so far I might be able to resell it for 2x to 4x or even more of what I will pay for it, even if I don't sell it all (trying to be conservative in my estimates).... I'm inspecting it all tomorrow....
However, this is something I never would have contemplated even just a few months ago! Even just doing small transactions changes the way you think! I owe it largely to your Chattel Report, Gordon, combined with some of Jim Straw's stuff and my readings about Kirk Kerkorian (which have also inspired me)....
The BEST way to get started which I've found in doing "deals" is the Chattel Report.... Even just doing a small transaction where you make a profit will change the way you think!
Even if it ends up I don't do this particular deal, my way of thinking has been changed forever....
> He is creating the neural pathways in his
> brain that are easier and easier to access.
> And in MY opinion, this is where the basis
> of luck lives. In our brains.
> The deeper the neural pathway, the faster
> the transmission of carrier signals, and the
> quicker it comes to us.
> Which explains why philosophers for 5,000
> years have told us to guard and control our
> thinking.
Yes, Gordon, this makes sense....
Someone remarked to me recently that I seem more "entrepreneurial" in my thinking nowadays....
Another thing I've learned recently is how to reduce the risk of any business activity. The whole guts of it is to have a backup plan....
If you have a backup plan for what you'll do if things don't work out, you'll do much better! The greatest entrepreneurial minds I've read about often seem to have more than one way of profiting from an activity.... If it doesn't work out the first way they hope, they have a second way to profit from their deals. And if that doesn't work, they have a third....
> Personally, I believe we can create luck. It
> is an attitude followed by action.
> It has belief as it's foundation. I also
> think that those people who stay stuck in
> the quagmires of their own creation are
> "happy" to stay there. There is an
> underlying thought that keeps them repeating
> the patterns of failure and you will find
> these people to ALWAYS be in crisis mode.
> They are never more than a week away from
> crashing and burning, even though they might
> be brillant in other areas. Talent that does
> not get used, and the person is AWARE of
> this, builds neural pathways of guilt and
> frustration, only to have the same
> thought/thing manifest in their life almost
> in direct proportion as the thought itself.
> We all know people who have been going to do
> something for two years now, and are only a
> weekend away from having it done...only to
> have one crisis after another interfere with
> the completion.
Gordon, I think you're right.... I'm sure there is a level of comfort for some people in sticking with what they're familiar with. Something like this could affect them so that they find it hard to move on, even to something better....
In my case, I tend to get a bit restless if I'm doing the same thing all the time. I know many others enjoy routines, whereas (for reasons I don't really understand) I like to avoid routines.... My brother Thomas has remarked to me that I seem to stick with something long enough to master it - then I look for something new to master. It's true, I love new challenges, so there is some truth to his accusation.... :)
One of the great things about learning about business - whether doing deals or product creation or marketing - is that the know-how will stay with you your whole life. I haven't really actively studied investment techniques for 4 years or so now, but the time I put into studying this 4 years ago keeps reaping me nice returns today....
I know deal-making (like chatteling), or honing your product creation skills, is the same....
It may take more focus to do these things today, but once you have the skills, you can benefit from them for the rest of your life....
> NOW, we are all guilty of a little
> procrastination and distraction, but you
> only have to look at where you were two
> years ago to see what the pattern of
> behavior is, your own personal MO (modus
> operandi)...and see how your THINKING has
> either kept you in the mode, or allowed you
> to break free from it.
> KNOWLEDGE is power that when APPLIED creates
> more LUCK than you can pack in a shamrock
> covered horeshoe.
Heheh, that's very true! :)
Thanks Gordon, that was a great post! :)
- Dien Rice
Wow, fantastic post! I do tend to be one of those who thinks things are "in-between" total control and forces outside of your control....
However, as you point out, only 5-10% of events are purely random.... Everything else you have some control over....
> but take a real life example, Dr. Dien
> Rice....
> not long ago Dien's thoughts were in
> Academia. He had to think about projects,
> research and faculty staff and advisors.
> His mind was filled with the routine of
> being in and at the University on a full
> time basis.
> NOW, he has chosen to pursue BUSINESS, and
> in the last year has immersed himself in
> studies pertaining to business. He has
> learned a lot.
> NOW his actions are starting to be BIZ based
> as opposed to Academic, although he gets to
> study and continue his research on his own
> terms...much more satisfying and enjoyable.
> He might be considered LUCKY to have the
> time to pursue other endeavors. His
> investment strategy might be LUCKY too,
> those without knowledge of what and how he
> does it might say too.
> LUCK has nothing to do with ROI in his stock
> portfolio, because he assumes responsibility
> for it.
> Now that Dien is actually engaged in making
> TRANSACTIONS, his thinking attunes to
> different etheral sinks...and acts as a
> magnet to another deal, then another one.
Heheh, it's interesting you mentioned this....
I'm looking at a deal right now (as I scale up my own chatteling)....
Tomorrow I'm going to be looking at all the stock from a bankrupt CD store.... CDs, DVDs, t-shirts, posters, racks for the CDs, etc. They're selling all the stock as one lot, and from the description so far I might be able to resell it for 2x to 4x or even more of what I will pay for it, even if I don't sell it all (trying to be conservative in my estimates).... I'm inspecting it all tomorrow....
However, this is something I never would have contemplated even just a few months ago! Even just doing small transactions changes the way you think! I owe it largely to your Chattel Report, Gordon, combined with some of Jim Straw's stuff and my readings about Kirk Kerkorian (which have also inspired me)....
The BEST way to get started which I've found in doing "deals" is the Chattel Report.... Even just doing a small transaction where you make a profit will change the way you think!
Even if it ends up I don't do this particular deal, my way of thinking has been changed forever....
> He is creating the neural pathways in his
> brain that are easier and easier to access.
> And in MY opinion, this is where the basis
> of luck lives. In our brains.
> The deeper the neural pathway, the faster
> the transmission of carrier signals, and the
> quicker it comes to us.
> Which explains why philosophers for 5,000
> years have told us to guard and control our
> thinking.
Yes, Gordon, this makes sense....
Someone remarked to me recently that I seem more "entrepreneurial" in my thinking nowadays....
Another thing I've learned recently is how to reduce the risk of any business activity. The whole guts of it is to have a backup plan....
If you have a backup plan for what you'll do if things don't work out, you'll do much better! The greatest entrepreneurial minds I've read about often seem to have more than one way of profiting from an activity.... If it doesn't work out the first way they hope, they have a second way to profit from their deals. And if that doesn't work, they have a third....
> Personally, I believe we can create luck. It
> is an attitude followed by action.
> It has belief as it's foundation. I also
> think that those people who stay stuck in
> the quagmires of their own creation are
> "happy" to stay there. There is an
> underlying thought that keeps them repeating
> the patterns of failure and you will find
> these people to ALWAYS be in crisis mode.
> They are never more than a week away from
> crashing and burning, even though they might
> be brillant in other areas. Talent that does
> not get used, and the person is AWARE of
> this, builds neural pathways of guilt and
> frustration, only to have the same
> thought/thing manifest in their life almost
> in direct proportion as the thought itself.
> We all know people who have been going to do
> something for two years now, and are only a
> weekend away from having it done...only to
> have one crisis after another interfere with
> the completion.
Gordon, I think you're right.... I'm sure there is a level of comfort for some people in sticking with what they're familiar with. Something like this could affect them so that they find it hard to move on, even to something better....
In my case, I tend to get a bit restless if I'm doing the same thing all the time. I know many others enjoy routines, whereas (for reasons I don't really understand) I like to avoid routines.... My brother Thomas has remarked to me that I seem to stick with something long enough to master it - then I look for something new to master. It's true, I love new challenges, so there is some truth to his accusation.... :)
One of the great things about learning about business - whether doing deals or product creation or marketing - is that the know-how will stay with you your whole life. I haven't really actively studied investment techniques for 4 years or so now, but the time I put into studying this 4 years ago keeps reaping me nice returns today....
I know deal-making (like chatteling), or honing your product creation skills, is the same....
It may take more focus to do these things today, but once you have the skills, you can benefit from them for the rest of your life....
> NOW, we are all guilty of a little
> procrastination and distraction, but you
> only have to look at where you were two
> years ago to see what the pattern of
> behavior is, your own personal MO (modus
> operandi)...and see how your THINKING has
> either kept you in the mode, or allowed you
> to break free from it.
> KNOWLEDGE is power that when APPLIED creates
> more LUCK than you can pack in a shamrock
> covered horeshoe.
Heheh, that's very true! :)
Thanks Gordon, that was a great post! :)
- Dien Rice
