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Friday, April 29, 2016

Friday Feature Book Review: "I, Steve: In His Own Words" by George Beahm スティーブ・ジョブズ:私の考え 著者ジョージ・ビーム

Steve Jobs was bright and driven. I have met some very bright people in business, academics, and the arts. However, I do not think I have ever met anyone quite like him. The more you read about his thoughts and ideas, the more you wonder what made him tick, inspired him forward and why he had that drive.

I also wonder if he would have been even more driven if raised by his biological parents and not adopted? His father was Syrian, and met his mother in college. They gave him up for adoption and hoped that his new parents would be college educated. Would his strong personal drive have come out more (or less) if he knew them early on? Would he have been the same person or even more of a visionary if raised by his biological parents? 

There are questions you pose yourself while reading this book. There is a personal demon fighting with his personal identity and it is not an easy answer. However, maybe this demon was just a drive for discovery. One thing that is clear is that many of the experiences of life can be used in alternative ways. Steve Jobs seems to have exposed himself to many things in his early days that came together in unexpected ways usually for the better.  

During his time in India, this trip started key ideas on what personal computers could be in schools. It also exposed him to calligraphy created during the Great Indian Renaissance. This would one day be key to future fonts with a GUI on an Apple PC. Was this just common for others in California of his generation? He seems to have a rare combination of right and left brain segments in balance. He can really see the potential of ideas early on in the creative process.

He can then follow it up with the more realistic needs to execute, and do so extremely well. It is not a combination that is common in many people. Steve Jobs certainly has thoughts that are very deep for a young person, and very clear towards performance. I came away wondering if in future, he will seem like a kind of historical Napoleon like figure in future corporate history, and never just one of many CEOs who did well in a certain beginning of the technology age?

Time will of course tell, but if you read his thoughts they are not of a person consumed by material wealth need. He bought his first house but kept almost no furniture. He is more of a person driven to complete a vision of technology that just needed to be done. 

You learn that Socrates would have been one of the conversation partners he wished he could have had in life. It is a good choice when you learn more about what drove him. He seems like the kind of soul who needed to seek some things out, even at a high cost, because it just needed to be done. The goal would be worthwhile to those that followed. 

To a point you may be able to say that about Apple products in general, and that certainly confirms the imprint of the man, and his words. Steve like many Apple products, represent a new standard of perfection. This book was worthy of many reads, and his thoughts were enlightening in their honest clarity. I would even dare say they were insanely great. Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com

Friday, April 22, 2016

Friday Feature Book Review: More Money Than God! by Sebastian Mallaby , ヘッジファンド ―投資家たちの野望と興亡、 セバスチャン・マラビー

Global hedge funds pay big time bonuses. If you want to know the wealth & power around them, then this book is for you. Author Sebastian Mallaby, has amazing access to top-tier hedge fund players and does some incredible research into the industry. The names and numbers really made sense and hooked me in. 

He did not waste my time or my money on this rich in detail volume. This was one of the most in depth books on hedge funds that I have ever come across. The direct quotes and input from the greatest managers of all-time make it work. Their views on many of the biggest trades the world has ever seen, was very insightful in its remarkable detail. 

You could feel that he not only developed excellent sources, but wished that you could have been there for the many of the conversations. For me, not a single page was drab and not worth my full attention. The wrap up on the industry in a big picture style worked for me too. It many ways, he makes a good case that global investment banks were in fact hedge fund partnerships themselves, but then got listed on various stock exchanges. A new wave of hedge funds will always come along to make money out of a never ending pattern of continuous opportunities. 

The overall bigger picture is easy enough to understand, hedge funds evolve and adapt. The best ones grow and keep the kind of DNA that keeps on tinkering, like any inventor in a garage. They have to keep looking for the next new thing, new market, new strategy, new arbitrage, whatever. Size matters, and investors tend to look for size as a kind of comfort. Over time this can be flawed in many ways, but it is a common practice. In a way, you feel that the old line, "nobody got fired for choosing IBM" works here too. 

A large hedge fund with US$1BN or more in assets seems safe as an investment. The financial size is not really a comfort in the end, as the performance can end quickly. It is the professionals, the real human capital, within any hedge fund that are the real assets being invested into. If these big brains, the traders have, can figure out the next new things in financial markets, then performance follows. 

Ultimately, any hedge fund once successful, gets big. A few even get listed. and then make way for a newer wave of "Young Turks" to follow with the new new market sensation. Hedge funds really are about finding opportunities and the people behind them. That is where the big money is made, by seeing a new twist or tact, and creating profits by innovation around those new opportunities. 

The author Sebastian Mallaby takes us on this journey in a very detailed fashion. It is full of the kind of glitz and bling that keeps your appetite always wanting a little bit more. This was a great read and a great insight in the hedge fund world. This book is Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com

Friday, April 15, 2016

Friday Feature Book Review: The King of Capital: Blackstone's Steve Schwarzman 首都の王=>ブラックストーンのスティーブ・シュワルツマン

Blackstone is a name that means money and success. They run over US$30 billion is assets, and this book does not disappoint. However, like the tip of an iceberg, it did not come quickly or easily. Billionaires like its founder Steve Schwarzman, when self-made, know how to work hard and take risks. The full background story is what the book explains well. Nobody got rich by just "showing up" at the right time with the right product. 

This is not just about one founder, or one firm. In many ways, it explains the full picture of how LBO deals, and the billions in profits made from them, have grown over the last 40 years. If you wondered how the whole industry started, this is a great place to begin. We find out that private equity guru Steve Schwarzman, did not even study finance at Yale, but an arts degree! He started at DLJ and found that despite a lack of financial background, he had talent and was a quick study. 

After 3 years, he went for an MBA from Harvard, and then he perfected this talent for finance at Lehman Brothers, before starting Blackstone. Being an entrepreneur is not all about having a "big idea" one day to start a firm either, there was a logical clear process. One thing you learn about the head of Blackstone, is that he always tries to minimize risks, and follow a process. He takes calculated risks, and never just "throws the dice". We learn there is nothing he hates more than losing money. The most interesting aspect about Steve though is his creative side for finance. 

To close the most difficult deals he often needed to come up with "outside the box" style solutions. What you learn the most is that standard operating procedures with various LBO and M&A deals, grew faster because of Steve's efforts. Do you want to sell more junk bonds to finance the debt? then offer bondholders reset caps, in case the bonds fall in value to ease their sale. Do you want to figure out the true price of real buyers? set up a blind sealed bid auction for takeovers. These are just two of the many innovations that Steve came up with, the market did not. Most are basic procedures now, but were always new and innovative at the time.

If you can see KKR founder Henry Kravis, as the Bill Gates of corporate finance, Steve seems more like a Steve Jobs. He seems nicer too, highly innovative and different in type. Both of these titans are driven and very successful, but for different reasons. Blackstone as a firm was built a certain way, and it was built properly. The drive needed to be very successful in the business takes a lot of time and total persistence. High energy and a bit of luck are also key. 

This is no overnight success story. In the beginning, it was hand to mouth for 2 years and a difficult early road. Like many who spin out on their own, there is comfort in size and a reputation that clients prefer. Personal loyalty can be forgotten when a deal needs to be signed with a new firm. Major clients prefer an established name. When Blackstone started out, there was no welcome with open arms. New entrepreneurs learn this reality the hard way, and Steve was no different. He survived, built the firm into legend, and lived to enjoy the rewards. This book is Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com

Friday, April 8, 2016

Friday Feature Book Review: The 100 Rules of Money by Richard Templar お金の百のルール リチャード・テンプラー

This great international best seller is focused on "how to have a millionaire mindset". Imagine if George Soros or Richard Branson gave you financial advice as a personal mentor. Would they know patterns or behaviours that could help teach you to grow wealthy? My guess is yes, most likely. 

The author Richard Templar, does a very splendid job of explaining his 100 rules for making more money and building personal wealth. It will help any person to be in the right mental mindset. It will help you see clear income opportunities, understand them, and finally benefit from them financially. It is indeed a process. It may be unsaid, but it is clearly there.  

The lessons vary in importance, but many really stand out. These 100 rules act as a wealth coach for anybody wanting to become more financially independent. Personal favorites include the ones that focus on how to control your emotions and spending habits. Wealth is not often helpful if not properly prepared. 

Wealth should be a friend not an enemy (rule 8) explains how unexpected large money decisions can be stressful without answers or action at the ready. Understanding the true relationship between money and happiness (rule 14) is not an easy one. Neither is the related wisdom on how money, if only is seen as a solution, can often become the problem (rule 11).

The most difficult lessons involve discipline. It is harder to manage yourself than to manage your money (rule 18). Knowing where you are and having a clear plan (rule 19 & 20) and deciding your risk appetite (rule 24) are not easy decisions. You have to work hard early in order to make enough wealth to not work hard later (rule 29). 

The most basic rule is spend less than you earn (rule 36). The many get rich quick schemes are also to be avoided (rule 60) while borrowing money from friends (rule 86) gives a lot of insight into how to deal with such situations. With children, allowing kids to know about poverty as a motivator (rule 95), does have a productive benefit. It is not really best to shelter them from it always.

No matter what your income level, business owner or new employee, these 100 rules of money are all worth reviewing. It all helps in trying to build any future career and wealth plan. All of these rules are reasonable and need to be answered by each person individually. This is important in order to build a solid foundation for any person's financial wealth plan, no matter what the starting size. Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com