Business

  • Some Links for Your Weekend Reading

    Ever wonder how the stock market works?

     

    120929 How Does the Stock Market Work

    Real Life Adventures by Gary Wise &Lance Aldrich

     

     

    Here are some of the posts that caught my eye. Hope you find something interesting.

     

    Lighter Links:

     

    Trading Links:

  • A Trip to Singapore is Making Me Re-Consider “What’s Hot”

    I am in Singapore.

     

     

    Singapore

     

     

    Southeast Asia is hot … temperature wise, and also because a lot of smart money is paying increased attention to opportunities here.

     

    Outside, cranes are everywhere — so are many other signs of impressive growth and vibrancy.

     
    Downtown, condos are selling for $2,000 per square foot.

     
    Traders know Momentum is something to follow.  So, what are some trends worth paying attention to now?  

     
    Algo Trading, Big Data, the Cloud, and Southeast Asia come to mind quickly.

     
    What are some others areas you sense are focus-worthy?

  • Procrastinate! Why Waiting to Decide May Be Better for You.

    Frank Partnoy ex-Wall Street derivative trader and self-confessed procrastinator, reveals the science behind our decision-making disasters and successes, and argues that decisions of all kinds, whether 'snap' or long-term, benefit from being made at the last possible moment.

    The art of knowing how long you can afford to delay before committing is at the heart of many a great decision.

     

     

    Listen to the podcast of the full event including audience Q&A.

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  • Here Are Some Interesting Links to Read This Weekend

    The iPhone 5 is cutting edge … and Siri is getting smarter.  Too bad it can't answer the tough questions.  Here's a cartoon that imagines what would happen if asked "Can the economy be fixed in the current political climate?"

     

    120922 iPhone 5 Ask Siri About the Economy

     

    Here are some of the posts that caught my eye. Hope you find something interesting.

     

    Lighter Links:

     

    Trading Links:

  • The Spoof of the iPhone 5 Video is Hilarious

    I was watching some of our team chat about the new iPhone 5.  They shared the link for the video and said things like "Wow, dude … I want one so bad!"

    Here is a link to Apple's official iPhone 5 promotional video.

     

    120920 iPhone 5 Video
     

    There is also a spoof of the video.  It is very funny … worth watching
    for a laugh and some perspective on how "big" the Apple brand promise
    has become.

     

     

     

    In many ways, the spoof made me want the phone even more.

    As a side-note, wouldn't it be great to design a product that was spoof-worthy?

     

    As
    you think about what a spoof of your product or service would be,
    perhaps the bit of "truth" in the humor points at the real competitive
    advantage … or at least towards the roadmap that leads towards
    creating one?

     

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  • How Hard Was It to Get an iPhone 5 Upgrade?

    Perhaps you heard, Apple sold a few new iPhones last week.

    According to TechCrunch, iPhone 5 Pre-Orders sold-out 20X faster than the 4 and 4S did.

    If a picture is worth a thousand words, this should tell quite a story.

    The first picture shows the first hurdle … just strong demand … right?

     

     IMG_0207

     

    At a little after 2am CST, the iPhone 5 seemed close.  The upgrade process starts.

     

     IMG_0208

     


    Clicking the button, however, resulted in no joy. The site was unavailable.

     


    IMG_0209

     


    OK, lots of people must be hitting the site all at once.  Let's try again … and again …

    Progress; at least this is a new page. They must have fixed things?

     


    IMG_0210

     


    It's after 3:30am and the next picture shows why pillows seem more likely than gadget love.

     


    IMG_0211

     


    Give AT&T credit for good planning. How many ways can you anticipate failing?

     


    IMG_0212

     


    I sleepily imagine my propeller beanie being taken away for failing to score … my early adopter status is wavering as much as my sleep deprived body.

     

     IMG_0213

     


    Oh, Apple's site probably sucks less than this …

     


    IMG_0214

     


    Alas, there's still a chance to wait in line this Friday.

    Are you planning on getting the new iPhone?

     

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  • Mark Cuban Explains Why High Frequency Trading “Terrifies Him” – But That May Be Why It Interests Him As Well

     

    While talking with traders, one of the topics that keeps coming up is how much the markets and trading have changed recently.

    One
    of the primary catalysts to such change has been the amount and
    frequency of government intervention and stimulus. Another big driver of
    change has been the massive shift to algorithmic or program trading.
    Recently, the piece of this getting the most press and attention
    is high-frequency trading.

    Below is an interesting video where Mark Cuban, Dallas Mavericks
    owner and high-profile entrepreneur, shares some thoughts about why high-frequency trading
    terrifies him.

    Here is the video.  The market related comments start about 30 seconds into the clip.

     

    Visit NBCNews.com for breaking news, world news, and news about the economy

     

    Some people may watch that video and assume that
    high-frequency trading is a bad thing, or something to be regulated and minimized. However, there is another side to the argument.

    Let me digress for a moment. If I talked to an entrepreneur, and asked them what the biggest constraint on their business was … some might say it's the Obama administration and their policies. This is absurd, because they don't have any control (or at least meaningful control) of that supposed constraint. Instead, that is simply a "reality" of the current competitive environment for them and others.

    What that means is the thing they control is how they respond to that competitive environment. For some, what they perceive limits their options or thwarts their strategies. For others, it is a catalyst for new action, new strategies, and new ways to win.

    So, why is Cuban afraid of high-frequency trading? First, he believes we are likely to see another "flash crash". Second, an increasing percentage of market action is a result of algorithms trying to outsmart algorithms (and he recognizes that the decisions they are making happen faster than humans can respond to our comprehend). As a result, human intervention isn't the answer because any actions would occur too late.

    Some people recognize the advantage algorithmic traders are gaining and seek to weaken it (or at least slow it down), while others pull their money out of the market because of their disadvantage and the new risk.  Contrast that with those that see the advantage and try to figure out how to extend it or get some of it for themselves.

    It's like most things in life, it's not as much about what happens, it's about what you do.

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  • Here Are Some Interesting Links to Read This Weekend

     

    120915 Bruce Lee

     

    Here are some of the posts that caught my eye. Hope you find something interesting.

     

    Lighter Links:

     

    Trading Links:

    If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There only plateaus, and you must not stay there, you must go beyond them.

  • A Great Way to Suck Less at Managing Teams – a Look at the 15Five Process

     

    Energy flows where
    focus goes … and questions are a great way to direct focus.

     

    Planning is one
    thing, “real life” is another.  So, how do
    you give stakeholders a clear picture of what’s happening, the relevant business
    terrain, and the best path for them to navigate given their daily challenges
    and objectives?


    120914 15five-logo15Five is a
    management tool that can help with those issues.  It consists of a few simple questions that
    each of your direct reports has an opportunity to fill out each week.

    The name, “15Five”, comes
    from the concept that it should take someone 15 minutes to think about and fill
    out their answers to these questions; while it should take you about five
    minutes (per person) to review those answers and give feedback. These responses
    can be public or private, as you see fit.

    The good news is that
    15Five is simple and usable.  You’ve
    probably heard the phrase “Garbage in, garbage out.”  More importantly, though, “Nothing in,
    nothing out.”  If people don’t use a
    tool, it is tough to benefit from it, regardless of how “good” it is.

      
    120914 Know the Pulse of Your Company

    So, How Did Our Team Respond to This New
    Tool?

     

    Predictably, after a
    week or two of using it, several members of the team approached me to ask how
    long they'd have to do this. However, just a few weeks later, some of those
    same people shared how much they're enjoying the process.

    Ultimately, they
    recognize that it's helping them raise their focus from the immediate to a
    chunk higher. They also recognize that it's a chance to have a one-on-one
    conversation with their boss about what they want to talk about … without
    taking time away from their work or interrupting their focus time.

    The 15Five process
    also gives respondents a chance to think about and prepare worthy answers
    (rather than to feel tongue-tied or regretful that they failed to mention
    something when they had the chance).  The
    result is something they are likely to be proud of – and something to build
    upon.

    For the manager, it
    is a chance to give individual attention to each respondent. It also provides
    an easy way to comment (or ask for additional information) about specific
    ideas. Just click a button and write your note. The other party gets an email
    that they can respond to directly, or they can see it in the conversation
    thread for that week’s report.

      
    120914 How It Works

    Where Is Value Added?

     

    15Five helps people
    think about the business (rather than simply working through their daily grind).
    It helps them recognize why what they are doing matters, and how what they are
    doing helps move things in the right direction. 
    As a result, using the tool builds confidence and momentum. Ultimately,
    15Five helps people steer themselves to take appropriate actions and make
    better decisions.

    As a trader, I
    understand that price is the primary indicator of the market. However, to get a
    better understanding, many traders use secondary indicators (like sentiment,
    momentum, rate of change, or even the response to good or bad news).  Beyond a direct communication tool, these are
    the types of insights that the 15Five feedback mechanism makes possible.

    For example, don't
    just look at one week's set of responses in a vacuum. Instead, notice the tone
    and the amount of care that someone uses when they send you their information.


    Coachable Moments.

     

    Here is another
    example.  If someone typically writes
    three or four sentences to respond to a particular question, but this week they
    only responded with three words, that might be an important thing to pay
    attention to and note.

    Sometimes a
    non-answer is important. Last week one of the questions was “What
    challenges are you facing? How are you going to fix it, and where do you need
    help?” 
    Someone answered that
    they were not facing any new challenges that week. Great, right?  Or, is that really an opportunity for
    coaching? 

    In that situation, my
    response was: “There are always challenges. Sometimes they are easy to spot
    because they clearly present themselves as problems.  Other times they can show up as opportunities
    or choices … Sometimes, however, they are harder to identify because they could
    stem from something as subtle as conflicting desires. Remember that the goal of the question to look above the
    day-to-day activities to focus on your higher level intent and purpose
    .”

    The point is that 15Five
    gives you great opportunities to add value – and the time to notice coachable
    moments. Here are some examples:

     

    • Is
      somebody telling you what they “don't
      want
      ” rather than what they
      intend to do
      ?
    • Are
      they so focused on the obstacles and challenge that they forget to recognize the opportunity or potential
      competitive advantage
      ?
    • Are
      there opportunities to include other
      people
      to create a unique ability team rather than a solo effort?
    • Are
      there things that you can express
      gratitude
      about or help the other person to feel proud about?
    • Are
      they focused on the forest for the trees? If so, what is a quick compass check to ensure that we are moving in the
      right direction
      ?
    • Are
      they focused on the right part of the problem; and have they right-sized it into chunks small enough to work on
      effectively
      ?
    • What does this
      accomplishment make possible
      ? And
      how can we continue to build confidence and momentum?

                                                                 

    From my perspective, the
    thought process and preparation may be more important than the answers
    themselves
    .

     

    So, Is It Worth Paying For?

     

    15Five helps avoid
    communication problems by creating and preserving appropriate context for
    decision-making.  In addition, it is a
    tool you can use to effectively direct focus and “steer” the company.

    It is also worth
    noting that 15Five feels like a separate tool. 
    Because of that, I suspect people respond differently to it than they would
    to a simple email or a discussion thread on the corporation’s private intranet.


    120914 15 and then 5Ultimately, this
    process is something that people like better and gain more value from as they
    do it more and do it better.

     

    Bottom Line: It
    clearly adds value. Give it a try.

    Energy flows where
    focus goes … and questions are a great way to direct focus.

     

    Planning is one
    thing, “real life” is another.  So, how do
    you give stakeholders a clear picture of what’s happening, the relevant business
    terrain, and the best path for them to navigate given their daily challenges
    and objectives?

                         

    15Five is a
    management tool that can help with those issues.  It consists of a few simple questions that
    each of your direct reports has an opportunity to fill out each week.

     

    The name, “15Five”, comes
    from the concept that it should take someone 15 minutes to think about and fill
    out their answers to these questions; while it should take you about five
    minutes (per person) to review those answers and give feedback. These responses
    can be public or private, as you see fit.

     

    The good news is that
    15Five is simple and usable.  You’ve
    probably heard the phrase “Garbage in, garbage out.”  More importantly, though, “Nothing in,
    nothing out.”  If people don’t use a
    tool, it is tough to benefit from it, regardless of how “good” it is.

     

     

    So, How Did Our Team Respond to This New
    Tool?

     

    Predictably, after a
    week or two of using it, several members of the team approached me to ask how
    long they'd have to do this. However, just a few weeks later, some of those
    same people shared how much they're enjoying the process.

                                                         

    Ultimately, they
    recognize that it's helping them raise their focus from the immediate to a
    chunk higher. They also recognize that it's a chance to have a one-on-one
    conversation with their boss about what they want to talk about … without
    taking time away from their work or interrupting their focus time.

     

    The 15Five process
    also gives respondents a chance to think about and prepare worthy answers
    (rather than to feel tongue-tied or regretful that they failed to mention
    something when they had the chance).  The
    result is something they are likely to be proud of – and something to build
    upon.

     

    For the manager, it
    is a chance to give individual attention to each respondent. It also provides
    an easy way to comment (or ask for additional information) about specific
    ideas. Just click a button and write your note. The other party gets an email
    that they can respond to directly, or they can see it in the conversation
    thread for that week’s report.

     

     

    Where Is Value Added?

     

    15Five helps people
    think about the business (rather than simply working through their daily grind).
    It helps them recognize why what they are doing matters, and how what they are
    doing helps move things in the right direction. 
    As a result, using the tool builds confidence and momentum. Ultimately,
    15Five helps people steer themselves to take appropriate actions and make
    better decisions.

     

    As a trader, I
    understand that price is the primary indicator of the market. However, to get a
    better understanding, many traders use secondary indicators (like sentiment,
    momentum, rate of change, or even the response to good or bad news).  Beyond a direct communication tool, these are
    the types of insights that the 15Five feedback mechanism makes possible.

     

    For example, don't
    just look at one week's set of responses in a vacuum. Instead, notice the tone
    and the amount of care that someone uses when they send you their information.

     

    Here is another
    example.  If someone typically writes
    three or four sentences to respond to a particular question, but this week they
    only responded with three words, that might be an important thing to pay
    attention to and note.

     

    Sometimes a
    non-answer is important. Last week one of the questions was “What
    challenges are you facing? How are you going to fix it, and where do you need
    help?” 
    Someone answered that
    they were not facing any new challenges that week. Great, right?  Or, is that really an opportunity for
    coaching? 

     

    In that situation, my
    response was: “There are always challenges. Sometimes they are easy to spot
    because they clearly present themselves as problems.  Other times they can show up as opportunities
    or choices … Sometimes, however, they are harder to identify because they could
    stem from something as subtle as conflicting desires. Remember that the goal of the question to look above the
    day-to-day activities to focus on your higher level intent and purpose
    .”

     

    The point is that 15Five
    gives you great opportunities to add value – and the time to notice coachable
    moments. Here are some examples:

     

    • Is
      somebody telling you what they “don't
      want
      ” rather than what they
      intend to do
      ?
    • Are
      they so focused on the obstacles and challenge that they forget to recognize the opportunity or potential
      competitive advantage
      ?
    • Are
      there opportunities to include other
      people
      to create a unique ability team rather than a solo effort?
    • Are
      there things that you can express
      gratitude
      about or help the other person to feel proud about?
    • Are
      they focused on the forest for the trees? If so, what is a quick compass check to ensure that we are moving in the
      right direction
      ?
    • Are
      they focused on the right part of the problem; and have they right-sized it into chunks small enough to work on
      effectively
      ?
    • What does this
      accomplishment make possible
      ? And
      how can we continue to build confidence and momentum?

                                                                    

    From my perspective, the
    thought process and preparation may be more important than the answers
    themselves
    .

     

     

    So, Is It Worth Paying For?

     

    15Five helps avoid
    communication problems by creating and preserving appropriate context for
    decision-making.  In addition, it is a
    tool you can use to effectively direct focus and “steer” the company.

     

    It is also worth
    noting that 15Five feels like a separate tool. 
    Because of that, I suspect people respond differently to it than they would
    to a simple email or a discussion thread on the corporation’s private intranet.

     

    Ultimately, this
    process is something that people like better and gain more value from as they
    do it more and do it better.

     

    Bottom Line: It
    clearly adds value. Give it a try.

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  • Gotye’s “Somebodies” YouTube Orchestra Remix – Open Sourced Artistry

    Imagine being a performing artist who has a song what's on the top of the charts. Now imagine how much time and effort you put in to getting that song "just perfect." The perfect phrasing; when to breathe just a little bit deeper in order to hit that note; the gestures and dance steps to make it even that much more special …

    Now imagine the other side of artistry … The fact that it's "perfect" means that it's no longer challenging. How do you convey something special if it's no longer special to you?

    It's just as true for business person is it is for a performing artist; there's always something new  — and there is always a possibility of something more.

    Below is a music video put together by the artist called Gotye. You probably know him from his “Somebody That I Used To Know” video, which has now been played more than 300 million times.

     

    Gotye
     

    The version below isn't the music video that made him famous.  Instead, he put this video together solely from clips that he found on the Internet of people either imitating, innovating, or parodying his original work of art.

    Watch Gotye's "Somebodies" … In some ways, it may be better than the original.

     

     

     

    What a great reminder that you can always find "just a little bit more" if you're committed to searching for it hard enough.

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