Tag Archive for 'entrequest'

TBR: The Wisdom of Crowds

Amateur Afterthoughts:  The title could have been “The Wisdom of One Man” because author James Surowiecki impressively exemplifies his theory – that large groups of people are collectively smarter than the smartest individuals themselves – through countless examples from past and present world affairs.  Diverse and thought-provoking, Surowiecki’s selection takes us from ocean floor to outer space, from a New Mexico bar to a field goal post, Detroit’s first car to Zara’s latest shipment, gangster films, traffic jams – the list goes on and on.  This actually creates a conflict - you’re learning so much from each paragraph that it’s hard to remember what you read on the page prior.  The reading experience is best described as “fleeting factual fun.”

Truby Takeaway:  The knowledge must sink into the subconscious somehow because it can be applied instantaneously.  For instance, barely into chapter three, I found myself jogging around Washington DC.  Normally, I cross streets wherever and whenever I want.  Citing the pedestrian’s right of way, I basically run amuck with everyone else.  But I quickly noticed that on these streets, no one else’s feet were as arrogant as mine.  Everyone was standing at the crosswalks waiting for the little white man to light up for permission to go.  Were they just an obedient bunch of tourists OR were police officers in DC more likely to ticket jaywalkers?  I opted to wait and walk with the wisdom of this crowd.  I’ll never know what could have happened had I chose to walk my way but I definitely felt like I had championed my inner intellect in knowing why I acted like I did.  At the very least, it balanced out the feeling of inadequacy that resulted when I tried to pronounce the author’s last name…

Notown?

Let’s play a game called WHAT CITY is this magazine excerpt describing?

“The city’s foreclosure rate hovers at three times the national average… [It] has the highest crime rate and the highest poverty rate of any city in the U.S., and unemployment is soaring.  The mayor was recently indicted for lying under oath about an affair with an aide.”

Still need another hint?  The article continues: “Even at the auto show, events didn’t come off as planned.  Chrysler paraded 120 longhorn cattle in front of the convention center to promote its new Dodge Ram pickup truck, and some of the confused animals started mounting each other.”

Welcome to Detroit, Michigan.  Once the world’s headquarters for the entire automobile industry.  Now, the very thought of the city seems to put one at risk for depression.

But where there’s risk, there’s opportunity, right?

Seriously, how do wise investors rise to wealth?  It’s not because they heard about the next big idea on CNBC or because they read “How to Be a Billionaire.”  They’re the ones who end up as the guest stars and best-selling authors.  If we want to be innovative investors, we can’t rely on the experts and follow the masses.  The real returns will come from finding what no one else is seeing.

No one is seeing anything in Detroit.  But let me let you in on a little secret only us hockey, basketball, and Eminem fans seem to know – this city isn’t going anywhere.

I propose we go in now.  We can start with the housing market – upscale properties are reportedly being abandoned by the lots. 

Just in case I’m wrong though, consider buying some shares of a northern Michigan lumber company – it’s going to take a lot of plywood to keep boarding up those factories and skyscrapers…
 
Inspired by “Who Will Survive? How to save the U.S. auto industry – if it isn’t too late.  A plan that can work for Ford, G.M., and Chrysler.” By Paul Ingrassia.  Condé Nast Portfolio.  June 2008.

Chocolate Coin

“For Mr. Berggruen, chocolate is a primary food group.  He eats two meals a day, one which usually consists of chocolate cake.”

Who is this Mr. Berggruen that The Wall Street Journal detailed the dieting habits of? 

No, he’s not a spoiled preschooler.  Nor is he a nutritionally deficient idiot.

Nicolas Berggruen is a brilliant investor, ferocious visionary, and restless spirit.  He is 46 years-old and worth over $3 billion.  His values are even richer.  After selling all his homes and scaling back his possessions, he plans to devote most of his time and wealth towards solving the world’s social problems, including finding alternative energy sources, increasing farming productivity, and designing projects to combat inner city decay.

Let’s go back to his diet of chocolate because the world spends billions and billions of dollars just to understand what we should be eating to be healthy and happy.  Though no statements were given from Mr. Berggruen’s primary care physician or dentist, I have to believe that he’s healthy enough to think big and actually do bigger.  He certainly has to be happy enough to give it all back to the world, while only living out of hotels too.

So if “you are what you eat,” we civilians, for the most part, are what?  Going bananas?  Are we chicken?  We’re being milked by an industry that promotes losing pounds with the cost of losing dollars.  Are we nuts?  Yes!  We’re soy nuts in fact, and we’re in quite a pickle because despite our greatest efforts and on-going learnings, our health and happiness seem to stay in a vegetative state.

Mr. Berggruen, on the other hand, is rich German chocolate cake.  He’s a PayDay!  A Mr. Goodbar!  A 100 Grand (times 30,000)!

Mmmmm chocolate anyone?  Think about it.  Your first brilliant investment could happen as early as today at the vending machine.

Inspired by “Putting His Money Where His Values Are.”  By Robert Frank.  The Wall Street Journal.  May 19, 2008.

Lasso’d In by the PC Police

Secretaries and stewardesses went from endangered to extinct.  Simultaneously, the new species of Administrative Assistants and Flight Attendants evolved.  “Professional correctness” is taking off in this modern day workforce and men want in too!

Well at least that’s what I take away from a Monster.com article that re-terms “cowboy” with “ranch or farm manager.”

The only explanation I can think of for this modification is that the connotations of “cow” for “fat” and “boy” for “young” offended an overweight man with an inferiority complex.  If this was simply a sexist issue, why not just use “cowperson?”  Or did Nickelodeon already copyright that term for a cartoon?

Whatever the reasoning behind this change, it’s not just the occupation formerly known as cowboy that will be affected.

For those aspiring to be country singers, remember that you will now need to fit in two extra syllables when lyrically describing the men of the West.  Good thing The Dixie Chicks peaked in the 90’s.  “Farm manager take me away” somehow doesn’t strike as romantic a chord. 

And for those planning on being politically and professionally correct parents, you better make sure it’s “Ranch managers and Native Americans” your kids are playing at recess.

Inspired by “10 Cool Jobs and What They Pay.”  By Dona DeZube.  http://content.comcast.monster.com.  May 5, 2008.