Some Thoughts from a Hedge Fund Manager

This was what a successful Fund Manager had to say about what's going on in the financial Markets...

As I've been searching for thoughts and ideas as to how to best lead in these
demanding times, I came across a set of rules and guidelines which I invented
and implemented in my first business 30 years ago.
I find these simple, basic rules to be more applicable today than they were
then. I thought it worthwhile to share them with you and encourage you to
adopt them.
Tom
1. Don't confuse efforts with results or activity with achievement.
2. You, and not those who work for you, should set priorities on your
available time, energy and attention. "Time management basically boils down
to being able to say no to people who make demands on your time."
3. "Arnold Schwarzenegger won five world bodybuilding championships
because, while other bodybuilders worked on their strongest parts, he put the
most work into his weakest ones. Do that in business, and your organization
won't fail because of one weak link." First you must identify your strong
and weak points.
4. Demand excellence from your employees, your contractors, and your
business associates, or cut them loose. "I have a very ambitious program
going, and there is no room in it to support indecisive or nonproductive
people."
5. Have a bias toward action - let's see something happen now. You can
break that big plan into small steps and take the first step right away.
Don't procrastinate - "Do it now."
6. Find people who are able to simplify complicated situations. "Avoid
people whose solutions to problems just create more problems." Surround
yourself with "doers" not "wishers."
7. Always give 110%. It becomes contagious.
8. The time you put into a venture is only distantly related to the
success of the venture. The only thing that matters is the decisions you
make, and their consequences, not where and when you made them. I've gotten
more ideas, plans and solutions from jogging than at work, because my time
was focused and there were no distractions.
9. When choosing a career or business direction, look a distance
downstream. Set long-term goals for yourself that have potentials you'll be
content with. Ask, "If this is successful, will it be what I want, or am I
just looking around for something to do."
10. "Break the rules, and don't be afraid to start from scratch or from a
position of ignorance." Some of the greatest entrepreneurial experiences
come from going against the tide.
11. There is no substitute for preparation and follow up.
12. "Start shopping for things you'll need long before you actually need
them; you get the worst deal on anything when you must have it."
13. When engaging in business discussions, "be a better listener than a
talker; you'll learn very quickly what their interests and forms of knowledge
are."
14. It's better to look uninformed than to be uninformed. "Curb your ego
and keep asking questions. Also, you learn more from criticism than from
compliments."
15. Obstacles are just diversions in your path that will lead you in new
directions of opportunity. "Make each obstacle into a successful new path.
If your magazine ads don't work, start a catalog."
16. If you can define it, you can do it; however, defining it will be the
process that will try your soul.
17. Surround yourself with people whose qualities you emulate. Your
support group can make or break you. Avoid weak and vacillating characters
or you will become one.
18. Develop a mental image of how you would like it to be and reinforce
that through your surroundings, friends, etc. Keep a clear picture of that
image and live up to it.
19. The winners in the world are all strong in body and soul. The
discipline you impose on keeping your body in shape will reflect on your
soul.
20. Don't make loans to friends unless you consider them gifts.
21. All of life revolves around a cycle - a start, middle, and a finish;
always finish what you start.
22. Punctuality is the courtesy of Kings.
23. Extricate yourself from negative people, situations and influences.
You can only soar with the eagles if you can fly.
24. You will attain the most movement in your life from accepting risks.
If you are not willing to lose, you will never win.

Hope you enjoyed this
Louis
www.icginc.us