Develop Charisma and Become More Likable
Typical tactics employed by value-added real estate managers include retenanting, recapitalization, repositioning or rehabilitation, redevelopment, and new development.3 The concept of retenanting a property has a focus on increasing occupancy and upgrading tenants, either in terms of the credit quality of the tenant pool or the pricing and length of the leases with tenants. Higher occupancy rates increase funds from operations and raise a property's overall appraised value. Higher-credit tenants, higher lease rates, and longer leases improve property cash flows and reduce risk, thereby raising the price that other operators are willing to pay for the facilities. Recapitalization of properties relates to reducing the interest rate on debt associated with a building, thereby increasing net funds from operations, or reducing the total amount of leverage on a property, thereby improving the equity value and credit rating of the property. Repositioning or rehabilitating properties include...
A more efficient way of checking out the property is to have a previously selected property manager perform a drive-by and report a thumbs up or thumbs down on the property's physical appearance and location. This way, you're using what we call O.P.T. (other people's time).
I've been an admirer of Andy Grove and Bill Gates, Buffett continued, and I wish I'd translated that admiration into action by backing it up with money. But when it comes to Microsoft and Intel, I don't know what the world will look like ten years from now, and I don't want to play in a game where the other guy has an advantage. I could spend all my time thinking about the technology for the next year and still not be the 100th, 1,000th, or even the 10,000th smartest guy in the country in analyzing those businesses. There are people who can analyze technology, but I can't. (OID) 16
No wonder the proffle of choice on Wall Street was invisibility. According to James Grant, editor of Grant's Interest Rate Observer in New York, Soros was not alone in the shadows most of Wall Street was with him. The popular view was that like mushrooms, fortunes seem to grow best in the dark. People on Wall Street don't want to explain some day in the business section of the New York Times how they make money. They don't want the world to know how much money they have because they know that from time to time political winds change, admiration turns to envy, and there are hearings.
Maltz operated on thousands of people. The plastic surgery that he performed on people (usually facial surgery) brought not only a change in these people's physical appearance, but in many cases, an amazing change often occurred in their personality too. This dramatic change in personality occurred almost immediately after their face had been changed. Dr. Maltz realized when you change a man's face, you frequently change a man's psyche too. Dr. Maltz realized this was an awesome responsibility, so he knew he needed to learn as much about this phenomenon as possible. He figured he owed it to his patients and himself to know fully about what he is doing and the dramatic changes that he was bringing about in people's lives. inferior, the person himself acted out this role in his behavior regardless of the changes in physical appearance. If this face of personality could be reconstructed, if old emotional scars could be removed, then the person himself changed,...
Diogenes was a famous and very wise man. He found that owning things impaired his eiyoyment of life. He narrowed his possessions down to only the clothes on his back and a bowl. Then one day he saw a dog drinking in the river and decided he really did not need a bowl. He became famous throughout the land. So famous that the most powerful man in the world at that time heard of him. Alexander the Great went to the river where Diogenes spent much time to meet him. They struck up a conversation and Alexander was extremely impressed. Toward the end of this conversation Alexander said to Diogenes. I admire you more than any man on the face of this earth. One day I would like to be like you. To really relax and know myself.
He was taken to a local hotel in an ox cart and was attended by a physician, Dr Harlow, who later described the events immediately surrounding the accident and the long-term changes in Gage's behaviour. The rod was smeared with pieces of brain and Dr Harlow found that he could pass the entire length of his index finger through the 31 opening in the frontal bone in the direction of the wound in the cheek, which received the other finger in like manner . To everyone's amazement, Gage recovered. Before the incident, Gage had been softly spoken, well liked by the workers, and one of the railroad's most reliable foremen. Harlow described his patient after he recovered from his physical disabilities
Wall Street recruits aggressively at the undergraduate level. Typically, most bulge bracket investment firms hire a significant portion of their summer interns for their full-time programs. The summer internship is typically a coveted position, but in reality there s not much a summer intern can do without being licensed (we ll discuss the Series 7 and 63 licensing exams in detail in the Getting Hired section). The glossy recruiting materials will tout a rotation through various product areas, classroom training and numerous social and professional schmoozing events. While these undoubtedly occur, the most significant tasks of the summer intern will include fetching coffee and ordering lunch. To the extent that trading can be learned by osmosis, the lucky intern has ample opportunity to monitor the stock market, watch the traders and maybe even listen in on sales calls to clients. All the phones on a trading desk have mute buttons, so interns and trainees can listen in on...
The second choice goes against the way most people think. We are raised to persevere and to fight until the end. However, when engaging in an endeavor that exposes you to unlimited risk, the very qualities that may earn you admiration in other areas of life can cost you large sums of money. The long-term goal in futures trading is to win the war, not each individual battle.
When that didn't seem to work, I decided that it was time to stoop to guerilla-warfare tactics. I needed to find his Achilles' heel. One afternoon I spent some time with MVP and his dad. Being with the two of them, I could tell that his father was the most important person in my friend's life. It's not that he didn't love his wife and son, but I could clearly see the love, admiration, and respect he had for his father. Although he was a grown man in his thirties, his dad was the one person he most wanted to please.
Once the wealthy (and the rest of us) are on the efficient frontier between wealth and well-being, however, we face trade-offs. We can have more well-being but only if we sacrifice some wealth in exchange. Admiration enhances the well-being of the wealthy, but the wealthy we admire are those who contribute to worthy causes. We admire the Rockefellers and Carnegies for establishing the Rockefeller and Carnegie foundations, not for making lots of money from oil or steel. As panel B of Figure 21.1 shows, we can trade off wealth for well-being. When we donate our money to promote health in Africa or to support our alma mater, we lose wealth but we gain well-being.
It is with the utmost respect and my sincere admiration that I dedicate this book to my wife Susan who has helped me watch my thoughts as they became my words, helped me watch my words as they became my actions, helped me watch my actions as they became my habits, helped me watch my habits as they became my character, and most importantly helped me build my character, which ultimately protected our destiny. She is my partner for life
When I was young, I did not know which dad to listen to when it came to the subject of money. Both were good, hard-working men. Both were strong and charismatic. Both said I should go to college and serve my country in the military. But they did not say the same things about money or give the same advice about what to become when I grew up. Now I could compare the results of the career paths chosen by my rich dad and my poor dad.
Buffett first met Bill Ruane in 1951, when both were taking Ben Graham's security analysis class at Columbia. The two classmates stayed in contact, and Buffett watched Ruane's investment performance over the years with admiration. When Buffett closed his investment partnership in 1969, he got in touch with Ruane. I asked Bill if he would set up a fund to handle all of our partners, so he set up the Sequoia Fund.
What is Deep Practice It's basically the process of thinking deeper as you are practicing a skill. How does one think deeper Coyle explains that it begins with the Holy Shit Effect (his words). He says it's the heady mix of disbelief, admiration, and envy we feel when talent suddenly appears out of nowhere
Related to the availability error is the halo effect. If a person has one salient (available) good quality, his other characteristics are likely to be judged by others as better than they really are. Handsome men and women tend to be rated highly on intelligence, athletic prowess, sense of humour and so on. In fact, physical appearance has little to do with such characteristics. There is a small correlation between being handsome and being intelligent (Sutherland, 1992), but it is not enough to account for the mistakes people make in their judgements. There is the opposite effect, which is known as the devil effect . The presence in an individual of one salient bad trait like selfishness can lower people's opinion of all his other characteristics he tends to be seen as a more dishonest and less intelligent than he really is.
A person's physical appearance often communicates far more than their words. Often, people who come to me with a business plan or to ask for money look like mice that have been chewed on by a cat. No matter how good their plan, their physical appearance is a limiting factor. In public speaking, it is said that body language accounts for approximately 55 of communication, voice tone 35 , and words 10 . If you remember President Keennedy, JFK, he had 100 working for him and it made him a very powerful communicator. While not all of us can be as physically attractive as he was, we can all do our best to dress and groom appropriately to make our points stronger.
Years ago, John Bollinger created what is now one of the most popular indicators for traders known as Bollinger Bands. Traders throughout the world apply Bollinger Bands to their trading using them many different ways and John has deservingly received tremendous respect and admiration for this great creation.
Buffett first met Bill Ruane in 1951, when both were taking Ben Graham's Security Analysis class at Columbia. The two classmates stayed in contact, and Buffett watched Ruane's investment performance over the years with admiration. When Buffett closed his investment partnership in 1969, he asked Ruane if he would be willing to handle the funds of some of the partners, and that was the beginning of the Sequoia Fund.
Not all wealthy people understand the tradeoff between wealth and well-being and not all accept that society doesn't owe them admiration, or even respect, just because they're wealthy. Well represented in this group are the angry affluents, people who conclude that as rich as I am, I'm not rich enough. Some angry affluents have been stung by insurance schemes or phony trusts set up to avoid taxes. The outcome of such schemes is rarely positive for either their wealth or their well-being. Financial advisers can point out to this group that they can reduce both their anger and their taxes by donating money to a cause they want to support. They'll lose some wealth, but they'll gain well-being.
Craig stopped talking about his trading at that point. He was obviously still upset about his huge mistake in his first month. The regular charismatic Craig had turned a bit angry, even, and I could imagine how disappointed in himself he must have been. He expressed his determination that I should never make a similar mistake, and I assured him that I absolutely would not. I decided that before I traded again, I would request a withdrawal of 500 from my forex trading account, so that I could pay off the iPod purchase for my wife and make sure that I realized some of the profit. It felt like the right decision from the moment I made it. I told Craig that I planned to do this.
The Power Of Charisma
You knowthere's something about you I like. I can't put my finger on it and it's not just the fact that you will download this ebook but there's something about you that makes you attractive.