I recently read an article I enjoyed very much that touched on the importance of visualization in the context of how to find the next million dollar idea. I highly recommend the entire commentary as it is extremely well thought out and quite holistic in its approach.
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Gary Carmell
Posted in Advice, Economy, News, Psychology, Stock History, Uncategorized, Wealth
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Paul O’Neill, who ran Alcoa and quintupled profits during his 13-year tenure, famously focused on one keystone habit to transform the company. It’s worker safety. Analysts and investors couldn’t believe their ears when he was introduced as the new CEO when he said that would be the company’s most important focus.
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Tom Petty used to sing that you don’t have to live like a refugee. On the other hand, John Mellencamp said “suck it up and tough it out, be the best you can.” So what would most people choose?
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Gary Carmell
Posted in Advice, Apartments, Economy, Manufacturing, News, Trends, Uncategorized, Wealth
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Income inequality has many economic and societal impacts. When more wealth is concentrated in fewer hands, this can negatively impact aggregate demand as a large percentage of marginal dollars earned are saved versus spent. And since one person’s spending is another person’s income, a growing pool of savings will lower aggregate demand unless one or more sectors of the economy spend more than it earns as output will go unsold and have to be marked down for it to clear.
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In 1973 George Steinbrenner paid $8.7 million for the New York Yankee’s a team that’s currently worth over $4 billion and in second place.
Usually, when sports teams trade they are often for eye-popping prices which seem hard to justify at the time, yet years later the purchasers always seem to be vindicated.
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[Updated March 11, 2015]
“We should write because writing brings clarity and passion to the act of living. writing is sensual, experiential, grounding. We should write because writing is good for the soul. We should write because writing yields us a body of work, a felt path through the world we live in.”
― Julie Cameron
Writing is one of my greatest pleasures.
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Gary Carmell
Posted in Advice, Economy, News, People, Trends, Uncategorized, Wealth
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With the World Cup having been completed this past weekend I thought I would tap into some interesting research about soccer and its ability to unify countries that are typically very tribal and fractious. I saw some of this firsthand during my recent trip to Africa where it was pretty evident that tribalism is very much alive and well.
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“In every battle there comes a time when both sides consider themselves beaten, then he who continues the attack wins.”
-Ulysses S. Grant
“When things get really bad, just raise your glass and stamp your feet and do a little jig.
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There is a line from a Grateful Dead song that says:
I remember on our recent long sojourn to Africa and Asia there were a number of days when we are out on excursions and it was oppressively hot. The temperatures were close to 100° and the humidity was well over 50%.
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35 years ago on the night of June 27th, a friend of mine and I slept on very uncomfortable concrete outside of Dane County Coliseum in Madison, Wisconsin. The catalyst for this was fear of missing out as we were intent on doing our best to position ourselves to secure a great location for the next night’s concert being put on by the Grateful Dead as all seats were general admission.
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