Translate

Friday, October 27, 2017

Friday Feature Book Review: Lucky or Smart? by Bo Peabody (Start Up CEO) セレンディピティ―幸運を生むタマゴ: ボーピーボディ(ITスタートアップ)

Fortunes come and go in business, it is just a fact. Which entrepreneurs kept their money after the first IT boom? Who now in the FinTech & Social Media boom is still alive, and  doing well today? Were these first wave internet founders just lucky? or were they smart to make the money they did? Will FinTech or Social Media entrepreneurs follow the same pattern in future? This book answers this well, and goes well beyond. If you want to know what kind of personality it takes to be an Elon Musk, Jeff Bezos, Mark Zuckerberg or Bill Gates, this will make it clear.

Bo Peabody started a company in 1994 with a wonderful bunch of "odd people". This was before many had even heard of "the internet". He sold Tripod in 1998 for US$58M which later became Terra Lycos. He was not able to sell his stock lock up for 2 years, which allowed the position to increase 10 FOLD. Was he lucky or smart? Clearly both is what you learn about him, a very keen balance between the two.

This is not a book about "why I am not a genius". It is more a very well-balanced account of what parts of his decisions were smart and which were lucky. The smart part of many of Bo's decisions were about when to realize that he gets some luck, and then stays out of its way. I like reading about how lucky people can be and recognize it. I too often meet people who find themselves lucky and feel it is mainly because of their own talent. That is just not the same attitude. He does not claim to be a genius, and you never get that message in any of the chapters.

He calls himself a "B-student" as does his mother, but he has straight A insight on more than one occasion. He also makes a great distinction about how B student types are often better overall business founders, while A students make better focused managers in those businesses that are founded. This recognition is not easy to make, and proves to me how smart he really was. That is not a widely known lesson for many.

He has since gone on to start a restaurant business, a venture capital firm, and continues to invest in other start ups. He knows the bigger picture, and knows what drives the results needed in a bigger picture result. He is a lot smarter than he leads us to believe in the first chapter. The more you learn, the more you realize, that perseverance is never easy and costs a lot in time and energy. There are no short cuts, and you learn that without doubt. He even learns how to "cry" in order to deal with employee problems. 

This easy to absorb book reminds any reader today, of what has worked in the past, and may work in the future. The secrets of wealth creation are known, but not always the detailed execution of those same lessons. It is the will power needed especially after failure, or perseverance, that is core to success. Any reader will learn that he or she can be rich anywhere in today's FinTech world. 


The Top 3 Takeaways from this book that really impact any reader are:

1) This is the story of very special people in various businesses with talent that finds a way to true wealth. The pattern shows how drive and perseverance often wins the way to immense wealth, especially in tech.

2) The ability to work with "odd" co-worker friends, needs to be learned in life. Only once you start to find a balance of lifestyle and career drive, do you find out all of the new skills you need to succeed long term. 

3) This is never about somebody happy to be average or just OK. The common pattern shows that there is always a deep driver or just luck to push any rich person to a level few others ever reach.The question I still wonder is if you need to be smart in order to be in the right "lucky" place.

The author Bo Peabody knows his limits. He also knows what is needed in a variety of situations more than many get a chance to observe. If you have tried anything new and challenging, this is worth while. You will find his opinions can be re-used for restaurants or any other business as they are very deep & profitable. This book is highly recommended and very easy to read. Perfect for a few hours over a weekend or on a commute.


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, October 20, 2017

Friday Feature Movie Review: The Big Short by Michael Lewis マネー ・ ショート マイケル・ルイス

The Big Short is surprisingly entertaining as a movie, and is over before you know it, despite 130 minutes in length. Based on a true story, this documentary style movie is a great way to review what really happened around 2008. It brings a true view to the build up before Lehman Brothers collapsed, and who within financial markets, knew there were warning signs very early in the process. It was one of the biggest trades ever, and shines a wonderful light on some of the winners from this period. The most interesting takeaway I found was the emotions of each character, and what they had to go through. The total lack of support in any negative vision. Most people did not want to hear the bad news. They wanted the positive false hopes to continue, even in the face of hard facts showing another negative wave to come.

It must be understood that nobody knew how big the collapse would have been, or what the final housing defaults were actually going to be before the pop. As Ryan Gosling, who plays Jared Vennett, says in one scene, a key Deutsche Bank trader for Credit Default Swaps, it was a tough time. He was known as "Chicken Little" who thought the sky would fall on the US housing market. He was laughed at inside the firm, and not considered a realististic player on Wall Street. The honest truth hurts most when it is not popular.

Christian Bale plays Michael Burry, the founder of Scion Capital. It was he who had the idea to short the US housing market, and asked Wall Street to help. He plays a very off beat character very realistically, especially his social inability to communicate with people normally. A trader who really needed his odd personality to believe in himself, and his clear vision, when many others felt he was very wrong and possibly mentally ill.

Steve Carell plays the founder of FrontPoint, Mark Baum, who has his own demons emotionally, yet still contains his drive towards a hugely profitable CDO trading opportunity. It is ultimately discovered from a wrong number phone call, that leads to over US$1BN+ dollars in profit for his hedge fund firm and US$200M+ in personal bonus wealth. There is nothing funny about this part, in fact painful is a better description of his portrayal on screen. He really pulls it off well in a great performance.

Last but not least is Brad Pitt, who plays a former JPMorgan trader Ben Rickert. He worked in both New York & Singapore, yet retires in Colorado. He has lost his confidence in the financial system years before the crisis, but finds his way into the heart of it again. All this only due to a chance meeting while walking his dog. He becomes friendly with 2 amazing hedge fund founders at Brownstown Capital, Charlie Geller & Jamie Shipley, who turn US$100K of savings into US$30M well before the crisis, and a lot more afterwards. 

All of the characters are very real, and very much in your face. Nobody is trying to be anything they are not. They are all in many ways, a cast of human oddities who get a chance to see the world crash well before the event, and benefit from it enormously. This is a drama with comedic moments, but do not assume every man on the street will follow it easily. They take a very dry subject and make it entertaining, but a financial background would certainly help to follow the plot. 

The Top 3 Takeaways from this book that really impact any reader are:

1) There is no limit to being too careful with your beliefs on investment opportunities. Ethics and counter trends are a true test of any financial firm long term.

2) Reputation can be a weapon, but can also be a weakness. Conviction in any single trade needs to be rock solid the more radical is seems to others in the same market.

3) The long history and legacy of original thinkers making a fortune. George Soros, is one of many examples of top-tier risk takers seeing a chance and going "all in".

I must add though, that unlike the tech boom and bust of 2001, more people felt the pain from the many lost homes. They do not really enjoy being right as they know that it only can mean that millions of people will then suffer as a result. It was a sobering thought, but still a great movie to enjoy. It is the details of these characters that make the movie. The bigger picture is assumed, and does not take away any enjoyment from this film. Highly recommended, but more appealing for those in finance!

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, October 13, 2017

Friday Feature Book Review: The Richest Man in Babylon by Georges S. Clason バビロンの大富豪 「繁栄と富と幸福」はいかにして築かれるのか : ジョージ・S・クレイソン

This seems very much like an old classic story, but was written just 100 years ago, in the 1920s. The style is of a classic fable, and creates a timeless tale about how to approach wealth with the right mental attitude. Questions like why am I poor and others rich?, why am I very similar to those who are the 1% of society? You learn about many basics never taught in most schools, but common lessons known by many rich members of the population. It is enlightening and recognizable by successful business people, the true winners in economic life. If you enjoy figuring out the bigger picture, then this is an important glimpse into what you may want to know. This is really about building morals inside yourself, before running large amounts of money and making it grow for your family or legacy.

Early on, we meet a chariot maker called Bansir, who wonders like any man, why so few are rich, and how they get that way. Arkad was the richest man in Babylon, yet Bansir and Arkad grew up together, so what made the wealth gap difference so clear? Both were born poor at first, so it was not inheritance, was it something else? What could that be? Maybe it can be learned? You learn how Bansir and his friend Kobbi, the musician learn these lessons by observation. They find out how these basic wealth steps are explained in a very historic way. It often comes down to fundamentals like save part of your income, live below your means, invest for the future, take advice from experts who are qualified, take calculated risks, and many more tips on wealth. 

Many of the values explained are indeed timeless. I suspect that if you asked any number of billionaires today.  Or even other millionaires of the past, both groups would recognize the key lessons explained. It must be said that the age of the reader will change how the lessons are valued. The older billionaires of today like Warren Buffett, will know more of these lessons than the younger version of the same man. It seems that it is not just a bank account, but the values around wealth that get tested over time. Those with large amounts of significant layers of family money. 

What comes across is that time is not important to the value of these lessons. The values are clear in ancient Babylon from thousands of years ago, or the very modern Hong Kong, Singapore or Tokyo today. The lessons are timeless, and keep their value. If you like history enough to learn the foundation of wealth, then this is the book for you. It is a pleasant twist that helps review the true core of any wealth foundation. The ultimate question comes down to "how hungry are you?". What are you willing to do more than the average man? Only those strongly motivated over time can survive and accomplish what is really needed to succeed on the path to great wealth.

The Top 3 Takeaways from this book that really impact any reader are:

1) This is the story of very special people in Asia with hard wired talent that finds a way to true wealth. The pattern shows how drive, budgeting and perseverance often wins the way to immense wealth.

2) The ability to work with family and friends, needs to be learned in life. Only once you start to save and find a balance of lifestyle and expenses, do you find out all of the new skills you need to succeed longterm. 

3) This is never about somebody happy to be average. The common pattern shows that there is always a deep driver to push any rich person to a level few others ever reach.There is a clear difference between short term sacrifice and long term benefit.

This classic book reminds any reader today, of what has worked in the past, and will work in the future. The secrets of wealth creation are known, but not always the detailed execution of those same lessons. It is the will power needed especially after failure, or perseverance, that is core to success. Any reader will learn that he or she can be rich anywhere in the modern world. It is not just in the ancient city of Babylon, from times past that rewards those who learn the core lessons.

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, October 6, 2017

Friday Feature Book Review: Crazy Rich Asians by Kevin Kwan クレイジーリッチアジア人 著者ケビン・クワン

The Ultra High Net Worth class are now revealed. Author Kevin Kwan, has found his perfect subject, the new super rich Asian jet set generation. He has caught fire after getting on Oprah's famous book list, and I can understand why. Different people can enjoy the story from a lot of different angles. If you have any interest in Asia, you will be surprised by some of the amazing details, and reassured by others. In a way, it seems like a special entry into a very private club that you know little about but want to be a part of. Alternatively, you want to see at least a little about what is inside.I liked right away was the detail, the author has obviously been to Shanghai, Hong Kong and Singapore. There are details that stand out by a writer who has really been there, the flavor in his descriptions is authentic. The appeal is the cultural discovery of what you think you know, what you suspect, and what could be missing in your views. After reading this book you clearly wonder, "how many people are just like those described in the book?" The personality details are all spot on. Anybody living in Asia will recognize a trait from a friend or relative in many of the characters.

Many of the Asian characters are smart, lucky, insecure, driven, arrogant, and any number of other combinations, like all people. The great thing to enjoy is how you read about them in such fun loving detail. The author does a great job in explaining these people in a very natural way. You can tell he enjoys what he sees and enjoys telling it to you, the reader, in wonderful words. He is a kind of gossip, and cannot stop himself. It is almost a guilty pleasure reading about how the secret parties and knock-off brands are really purchased even by the super rich.

The humanity of the people in the story is what keeps you interested. There is a major wedding for a wealthy Singapore family, and its members from around Asia show great insight. It all uncovers so many layers of the same family with its conflicts and rivalries that exist in families from many parts of the world. The story is not only about Asia, but also its families spread all over. Paris, London, San Francisco and New York, are all part of the background fun. You sometimes wonder where are the limits of wealth? You may even wonder are there any in a modern world like today?

The Top 3 Takeaways from this book that really impact any reader are:

1) This is the story of very special people in Asia with hard wired talent that fits the times they live in. The pattern shows how drive and perseverance often wins the way to immense wealth.

2) The ability to work with family and friends, even frenemies, needs to be learned in life. Only once you start to proceed do you find out all of the new skills you need to succeed. 

3) This is never about somebody happy to be average. The common pattern shows that there is always a deep driver to push any rich person to a level few others ever reach. There may be lucky events, but the total result of wealth is often about hard work, not pure luck.

Some of the lifestyles described for billionaire blue bloods in Asia, do make you wonder. Can you really have royal court maids given to you by the King of Thailand? Can you really have a camera built into your closet mirror with a pop up display telling you what date you last wore any part of your wardrobe? Can you have a home so large in Singapore that it predates the botanical gardens? Could it really be blocked by Google maps due to high level connections? The Asian flavour in its detail is what is so delightful. The near fights over where to find of the best kinds of food at street stalls between experts really hits home. It is all fun especially the old China vs new China culture clashes unwrap with so much local flavor, it was all delicious! 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