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Fresh Pick of the Day, September 29, 2016: “The Right Way to Take Risks — in Business and Life”

From Knowledge@Wharton – “What I tried to do in my book is describe these tenets of risk-taking that apply across business and investing in life. There are four tenets: right-sizing the risk; right-timing; relying on knowledge and experience; and remaining skeptical of promises and projections. Those apply to investing tremendously. I think all the time about the right size of the positions that we take in companies; whether it’s the right time, because timing of when you buy or sell is critically important. How much we know about the investment, and then being skeptical about what we hear from Wall Street or what we might hear from the companies. But if you think about how we apply those in our life, take just some simple examples.

Right-sizing: If you’re going to buy a house, you want to make sure that you’ve got a house that’s the right size, not too big, not too small. Otherwise, it will be a mistake. It’s getting a mortgage that’s of a size you can handle; the size of your investment in that property is really important. So that’s something that everybody deals with involving size, whether you’re buying a house or you’re renting a place. There are four tenets: right-sizing the risk; right-timing; relying on knowledge and experience; and remaining skeptical of promises and projections.

Right-timing: You definitely don’t want to open an ice cream shop in November, if you have a choice. If you’re living in the Northeast, or you’re living in Philadelphia, you would rather open it in April or May. Timing affects many decisions, no matter what they are. When you’re getting married, when you’re getting engaged, when you’re having children, timing is just a factor. Sometimes it’s more important or less, but it’s definitely a risk factor.

Relying on knowledge and experience: You don’t want to, for example, take on an intern at your show if that person has only worked in an art gallery, and they say, ‘Oh, but I’m really, really interested in broadcasting and radio’ but they’ve shown no interest before. Is that something you should know about or not? I would say yes, because it’s a risk that you hire somebody who isn’t capable and doesn’t show any aptitude. So you’re relying on knowledge and experience.

Remaining skeptical: If you’ve got a buddy and you’re out to dinner with him, and he says, ‘I’ve got a great new idea for a restaurant and bar that I would like to open downtown, and I would like you to invest this many thousands of dollars.’ If you don’t ask a few questions about that, it would be pretty illogical. You better not be too credulous and say, ‘Hey, Jason’s a great guy, I really think that he’ll be a great bar owner.’ That would be silly — and it would be a lot of risk. That’s exposure to danger and uncertainty; that’s what risk is. You do need to be exposed to uncertainty to make any money or to make the right decision, but if you don’t think through why it might go wrong, you would be pretty gullible.”

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Business Rhythm Podcast # 33: “Impact investing in developing countries”

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From Business Rhythm with Frank & Jamie – “According to the World Economic Forum, impact investing is not an asset class but a specific approach to investing. To be more precise, impact investing has two elements. First, it aims to target both impact, whether it is development, social or environment, and financial returns; and second, it involves the active the measurement of both impact and financial returns.”

 

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Fresh Pick of the Day, Aug 12. 2016: “Kathryn Shaw – Three Things All Good Bosses Do”

From Stanford University – “A good boss can make a big difference. But what makes a good boss? Stanford Graduate School of Business Professor of Economics Kathryn Shaw found effective managers use similar strategies and have a lasting positive impact on their employee’s careers. Here’s how they do it.”

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Podcast # 32: “Holding your ground in the workplace” from Business Rhythm with Frank & Jamie

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From Business Rhythm with Frank & Jamie (Episode # 32 ) “Holding your ground in the workplace”

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Podcast # 31: “How do you make money from selling unpopular products?” from Business Rhythm with Frank & Jamie

From Business Rhythm with Frank & Jamie – “If you are going to put up a retail shop, what kind of products are you going to sell? Think about make-up, clothing, sports equipment, or books and music. Your instinct will tell you to sell a selection of goods that most people want to buy. After all, you have limited space and need to maximize revenue per square foot. You can also negotiate for high volume discount with the suppliers. With high turnover of goods, the chances of avoiding getting stuck with outdated goods will be great. Ultimately, profits will be high. We are seeing this strategy of selling a narrow list of high volume products with Walmart, Macy’s, Dick’s Sporting Goods, and Barnes and Noble. How about the flip side strategy of selling a wide list of items that are not mainstream? ”

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Fresh Pick of the Day, June 29, 2016: “Brexit: Five consequences | FT World ”

From FT.com  – “What are the consequences for the UK and the EU after the Brexit vote?”

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Fresh Pick of the Day, June 23, 2016: “The end of the Chinese miracle | FT Features “

From Financial Times Features – “China’s economic miracle is under threat from a slowing economy and a dwindling labour force. The FT investigates how the world’s most populous country has reached a critical new chapter in its history. Jamil Anderlini narrates.”

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Fresh Pick of the Day, June 14, 2016: “How Millennials, Gen Xers and Baby Boomers Shop Differently”

From Knowledge@Wharton – “By gathering and examining data that was more detailed than what retailers have been able to access before, research group NPD and Wharton’s Jay H. Baker Retailing Center have unearthed a host of new information about generational differences in buying behavior. Baker Center research director Denise Dahlhoff and Andrew Mantis, executive vice president of checkout tracking at NPD Group, appeared on the Knowledge@Wharton show on Wharton Business Radio on SiriusXM channel 111, to talk about what they’ve discovered about our retail proclivities.

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