There's that old story about Joe Kennedy who said he knew it was time to get out of the market when his shoeshine boy started giving him stock market tips. That was in 1929 right before the stock market crash and the start of the Great Depression. I think that's where we are now. I've begun selling my stocks. Interest rates will increase. And bond prices will go down as a result. I don't think it's a good time to be heavily in the market, but if the millennials prop it up for awhile, that's fine by me. Gives me more time to cash out intelligently.
Great analysis. At the time it was published, Good to Great was amongst my favorite business books. A few years ago, I hired the former CMO of Circuit City after their bankruptcy. I guess they weren't great anymore. Point being, My stock portfolio includes Walgreens and CVS and CVS is a better performer. Which leads me to a hypothesis: success is more time relevant than we think. Consider this study by McKinsey: "A recent study by McKinsey found that the average life-span of companies listed in Standard & Poor's 500 was 61 years in 1958. Today, it is less than 18 years. McKinsey believes that, in 2027, 75% of the companies currently quoted on the S&P 500 will have disappeared." I would love to read a post-mortem study of the eleven companies, if it exists.
I read somewhere that Americans agree on close to 80% of all the major issues. It's just that 20% where we waste so much time arguing. Think how much time we would save by focusing on the 80%. I like how you apply this concept to business. Thanks, Yancey for reminding me to take an extra step.
Yes, yes and yes. My favorite business mantra that I tell people all the time: "There are no good ideas; there is only good execution." I see this over and over with people wanting to start a company. I'll go one step further - most people never even start their startup, let alone fail at it.
Let’s start with a caveat emptor. I hesitated writing about this subject because so many have made their life’s work researching and writing about the art of selling. But like a good bottle of bathtub gin, selling something door-to-door distills all your need-to-know sales’ moves down to a very few crucial basics.
When I arrived in Washington, D.C. to attend grad school at Georgetown University, obtaining a job was my first order of business. Eating was requisite, after all. My father had cut me off financially because he thought graduate school was an unnecessary luxury and feared that I would…
What if you can’t risk your very small grocery budget on produce that spoils much more quickly than prepackaged food? Or risk it on kids who won’t eat the vegetables you buy anyway? What then? Who can blame you for not eating healthier?
I’ve never been poor. There was that time after my divorce with a 2 and a 5 year old where I considered myself poor, but I wasn’t. I never wanted for food. In the United States, over 15 percent of Americans live in poverty. As a single parent with two children, you are considered poor if your…
My purpose has shifted substantially over my life. I used to feel guilty about that – if I would have just settled on one thing I would have been much more successful. Besides the fact that guilt is a pretty worthless emotion, I finally gave in to my shifting interests, no guilt necessary. It was a difficult journey, but I am definitely happier now. And I can do a whole lot of different things better than many people.
In researching a recent article of mine, "Something besides a coronavirus is quietly pushing us into the next Great Depression," I talked about the loosely defined ages of man because I think we are now transitioning to a new age. Our ages used to last thousands of years. The Stone Age which incorporated periods such as the Paleolithic, Mesolithic, Neolithic, and Chalcolithic (Copper Age), ranged from three million years ago to five thousand years ago. The Postmodern Age which includes the Industrial Age and the Information Age started sometime in the early 20th century and continue to this day —…
Your article read like a wonderful story. Thank you for sharing. It was a good reminder of the important things in writing, the best bits and pieces.