7 Psychological Effects That Rule Your Whole Life

Here is the link of a million view video.

Did you know you could sell a $20 bill for ten times its value? Or that a person you’re physically attracted to may not be as smart and funny as you think? Or that the only reason why there’s this third option on the market is to create the decoy? All these things are called cognitive biases, and they rule your entire life without you even knowing it. Here are some of the most prominent ones.


TIMESTAMPS: Phenomenon of Max Bazerman 0:25 Decoy effect 2:23 Halo effect 4:00 Framing effect 5:00 Illusion of control 6:05 Dr. Fox effect 7:45 Spotlight effect 9:17

SUMMARY: - How hard could it be to take 20 bucks from an MBA student? In fact, Professor Max Bazerman proves it’s easy-peasy. In 2010, he first conducted an experiment at his class where he organized a simple auction: he would give a $20 bill to the student who pays the most money for it. The $20 bill was sold for $204. - The only reason why there’s this third option on the market is to create this decoy to make you buy a more expensive product. - You may not notice this, but when you see an attractive person, you tend to exaggerate their good traits of character. And that’s the gist of the halo effect. - We tend to prefer an option that is described in a positive way. Even if the only other option is absolutely the same, people will likely disregard it because it’s been given a negative description. - Although a situation can be completely random, people tend to think their choice somehow affects the results. We like to be in control of everything, don’t we? - The positive attitude and liveliness of a person can completely fool a whole audience of highly educated specialists. If you ever heard motivational speakers and got inspired by their ideas… well, chances are that you’ve also experienced the Dr. Fox effect. - If you’ve ever felt self-conscious leaving your house in different socks, worrying that everyone would laugh and point fingers at you, you’ve become a victim of the spotlight effect. It’s a psychological bias that basically makes you think too much of yourself.

Fretting about Modest Risks is a Mistake

Here is the link.

Managers often engage in risk-averse behavior, and economists, decision analysts, and managers treat risk aversion as a preference. In many cases, acting in a risk-averse manner is a mistake, but managers can correct this mistake with greater reflection. This article provides guidance on how individuals and organizations can move toward greater reflection and a more profitable aggregate portfolio of decisions. Inconsistency in risk preferences across decisions is a costly mistake for both individuals and for organizations. Based on the article "Fretting about Modest Risks is a Mistake" by Matthew Rabin and Max Bazerman.

Behavior Change For Good: Max Bazerman

Here is the link.

Harvard University Professor of Business Max Bazerman presents at CEHD's Behavior

Pay Attention to Bad Vibes, with Max Bazerman

Here is the link.

6種常見的認知偏誤，學會讓你變得更聰明！ 精準決策 | 動畫說書

Here is the link.

Book

Judgment in Managerial Decision Making

by Max H. Bazerman, Don A. Moore

Summary: 1.過度自信 Overconfidence Bias 2.後見之明偏誤 Hindsight Bias 3.錨定偏誤 Anchoring Bias 4.確認偏誤 Confirmation Bias 5.可得性偏誤 Availability Bias 6.承諾升級 Escalation of Commitment

1.過度自信 Overconfidence Bias（過去的成果經驗越多, 我們就越容易在決策時忽略其他重要信息, underestimate opponents or overestimate ourselves ） 2.後見之明偏誤 Hindsight Bias（事後諸葛亮，但對事情毫無貢獻） 3.錨定偏誤 Anchoring Bias（太過於依賴單方面的信息而忽略了整體面的考慮因素,bigger screen on tablets but not on phone） 4.確認偏誤 Confirmation Bias (只使用對自己有利的信息，而忽略了對自己不利或者矛盾的信息，saturated market) 5.可得性偏誤 Availability Bias(通過事件在記憶中的可得程度，來評估事件的頻率，會助長過度自信） 6.承諾升級 Escalation of Commitment（面對前期投入的消極後果，仍堅持向某一項目投入資源，這是沉没成本，不要受困于浪费心态，昨天的无法挽回，但我们可以从昨天的错误中学习）

有錢人的大陰謀：8個新時代的金錢法則 | 富人致富的秘密

Here is the link.

1. Knowledge is power. Know more about tool.
2. With knowledge what to borrow
3. Accelerating acceleration - speed demand
4. Control cash flow - not capital gain
5. 2008 financial crisis - it is time to allocate asset when bear market comes
6. How to learn financial literacy
7. Life is a team sport. Please be careful to select your team members.
8. Learn how to invest and have passive income.

Tools that can bring you income consistently passive income - positive rental income - stock dividend income

Learn the jargon in money tools.

1. Businesses
2. Real estate
3. Paper assets
4. Commodities

脫離貧窮的五個黃金規則 和月光族說拜拜

Here is the link.

“诺亚并不是在已经下大雨的时候，才开始建造方舟的。” 巴菲特 「人生就像滾雪球，你只要找到濕的雪，和很長的坡道，雪球就會越滾越大。」 – 巴菲特 Life is like a snowball. The important thing is finding wet snow and a really long hill. – Buffett

极简方面： 我是極簡主義者 從購物狂到今天的極簡主義一步一步走來的個人心得和經驗和你分享,用減法過日子，原來可以讓自己活得更自由更開心,世界知名人士賈伯斯、泰瑞莎修女也都是極簡主義奉行者,丟光所有傢俱,只保留你喜歡的物品。 随着你从生活中拿掉的东西越来越多，保留的越来越少，你会越来越清楚什么才是你真正在乎的。我看的書籍有 近藤麻理惠老师的（怦然心动的人生整理魔法）,（极简生活）, 山下应子老师的（断舍离）,极简，（极简主义），（极简力），（囤积欲），（我的家里空无一物）“只保留你喜欢的物品，其它的都没有意义。”丢掉无用或很少用的东西，只留下绝对必需的物品。当你犹豫一件东西要不要扔掉的时候，其实就是，你并不需要它！ 極簡主義者不代表身邊什麼東西都沒有，也不能從物品的數量來推斷他是不是極簡主義者。来体会一下极简主义生活都会是一个有趣的经历。物质的极简and心灵的极简，这两是相互作用，相互存在，相互成全的。在饮食方面简化，比如开始减少外食和调味料的摄入，烹饪方式更加接近食物本来的味道，更多的吃蔬果而不是充满人工添加剂的加工食品。比如，减少无意义的社交活动，和更契合的人交往。比如，换工作，和并不合适的恋人分手甚至离开带来负能量的婚姻，有生以来第一次摒弃杂音听从内心的声音.

Stop acting rich

Here is the book I like to learn more.

SUMMARY

With well over two million of his books sold, and huge praise from many media outlets, Dr. Thomas J. Stanley is a recognized and highly respected authority on how the wealthy act and think. Now, in Stop Acting Rich ? and Start Living Like a Millionaire, he details how the less affluent have fallen into the elite luxury brand trap that keeps them from acquiring wealth and details how to get out of it by emulating the working rich as opposed to the super elite.

• Puts wealth in perspective and shows you how to live rich without spending more
• Details why we spend lavishly and how to stop this destructive cycle
• Discusses how being “rich” means more than just big houses and luxury cars

A defensive strategy for tough times, Stop Acting Rich shows readers how to live a rich, happy life through accumulating more wealth and using it to achieve the type of financial freedom that will create true happiness and fulfillment.

讀書會: 別在扮演有錢人了 馬上像真正的百萬富翁一樣生活

Here is the link. I like to learn more about the book.

Thomas J. Stanley, Ph.D.
Stop acting like millionaire

3個常見的金錢迷思 | 就是艾理財#1

Here is the link.

The big advantage of the TD-e series

The big advantage of the TD-e series that is not immediately apparent is that you can automate contributions to your rrsp or tfsa when you work. This removes a lot of second guessing or temptation to time the market. 

Go to your Investments area and select Pre-authorized Purchase plan, then set it say to $100 bi-monthly. Then forget it exists, and you have no stress when the markets go up or down. 

If you get to a higher amount and stop working and the automatic contribution, then you probably want to move the money to their ETF equivalent with a lower fee of say 0.08% instead of 0.35%. 

I found the automation is a big convenience and it’s dollar cost averaging at its best. Unless Questrade offers it at no cost.

Actionable Items

I am having monthly deposit $120 dollars for Scotia Canada index fund. $100 dollar monthly for Scotia US 500 index fund. 

Do not time the market

Dec. 7, 2019

Introduction

It is such painful experience for me to review my personal finance. I sold everything in stock market in 2009, and then leave my 401 K and IRA CD from 2009 to May 2019. I just could not believe the pain and sufferings I experienced when I reviewed those financial records in early year of 2019. 

Below average as an investor

I just could not believe that I was below the average as an investor. I was busy with church, full time work in Canada, weight-control, vacation, hiking, my health and my rental property management. 

Reading 

I spent time to read the article called Reader case: when to time the market. I just copy and paste some sentences here. 

"That’s what I always recommend. Don’t try to time the market. At best, you’ll stress yourself silly trying to hit the optimal inflection point. And at worst, you’ll get paralyzed and leave it all in your checking account forever, like AA seemingly has."

READER CASE: SHOULD I ENTER THE MARKET?

Here is the article.

WOULD WE BE RICHER IF WE HAD BOUGHT A HOUSE?

Here is the article.

I spent over one hour to read comment. I think that the article is so well-written, and the traffic on the blog is such a great place for me to read.

I like to write down things I learn in the following:

1. Coach potato - learn how to invest using ETF.
2. Capital gain tax on stock -
3. Life style check - as a home owner, what should be checked into?
4. Inflation discussion - 2% - 4%
5. Cost to purchase and sell, discount broker, Toronto area property price

Preferred Shares - USA ETF

Dec. 7, 2019

Introduction

It is one more financial product I like to learn. I read the article from the blog here, and I like to write down one single concept to learn. 

ETF preferred stock

In America, the biggest ETF is the iShares U.S. Preferred Stock ETF named PFF, but there are a few others, including ones that deliberately bias towards Fixed or Floating issuers.

Name	Ticker	Current Yield	MER	Type of Share
iShares U.S. Preferred Stock ETF	PFF	5.5%	0.47%	Both
PowerShares Preferred Portfolio	PGX	5.66%	0.51%	Fixed
PowerShares Variable Rate Preferred Portfolio	VRP	3.95%	0.5%	Floaters

This couple retired in their early 40s using the FIRE method

Here is the article.

Understanding TD preferred shares

Dec. 7, 2019

Introduction

It is time for me to understand one more financial product. It is called TD preferred shares. 

All types

Preferred Shares are also more complicated than common shares. Each issue has it’s own different set of rules, so even two different issues of Preferreds from the same company may have wildly different behaviors, which is why each issue trades under a different symbol on the market. Here’s TD Bank’s Preferred Share issue, which they label as “Class A Preferred Shares, Series Q” and trades under the symbol TD.PRQ.CA.

Generally, there are three different types of Preferred Shares:

1. Perpetuals. These pay a fixed rate dividend that never changes.
2. Floaters. Floating Preferreds pay a dividend rate that’s pegged as a premium to interest rates. So if a Floater is issued at a 3% premium and current interest rates are at 2%, then the Preferred would pay 5%.
3. Fixed Rate Resets. These are hybrids of the above two. They pay a fixed rate for 5 years, and then reset based on interest rates like Floaters.

Why is this important? Perpetuals are more like traditional bonds and will go up in price if interest rates drop. Conversely, they will go down in price if interest rates rise. Floaters and Fixed Rate Resets will do the opposite. They will do well in a rising interest rate environment, and do worse in a falling one.

THE YIELD SHIELD: PREFERRED SHARES

Here is the article.

When you’re accumulating, bonds’ job is to reduce portfolio volatility because they tend to move in opposite directions with equities. However, with interest rates so low, as an income-producing asset, they don’t pay too well. As of the time of this writing, the Canadian Vanguard Bond ETF VAB has a 12-month trailing yield of 2.8%. Not only that, with interest rates on the rise, we can expect bond prices to get lower over time, which double-sucks. So what should we use instead?

Shunning home ownership leads to early retirement

Here is the link.

Kristy Shen

blogger, millennial-revolution.com

Retirement Inequality Chartbook The State of American Retirement How 401(k)s have failed most American workers

Dec. 6, 2019

Introduction

It is my personal finance research. I believe that knowledge is power. The more I learn, the more I earn. I have to invest time to read the article, and learn some basics first.

401 K report

Here is the article.

Here’s how much the average American family has saved for retirement

Here is the article.

In fact, “nearly half of families have no retirement account savings at all,” the Economic Policy Institute (EPI) reported.

Just how much has the average American family saved up? According to the EPI, the mean retirement savings of all families is $95,776.

90% of Americans don’t like to cook—and it’s costing them thousands each year

Here is the article.

It’s easier than ever not to cook, and Americans are taking advantage of that. The average household spends an average of $3,008 per year on dining out, the Bureau of Labor Statistics reports.

However, what you save in convenience, you lose in cold, hard cash.

For those with the means to spend an exorbitant amount on food, this epidemic might not register as an issue. But the majority of Americans can’t afford such a costly habit — not when it comes at the expense of being unprepared for an emergency, or, worse, having nothing left for retirement.

Five easy ways you can save yourself $1,000 in three months

Here is the article.


First, track your spending

Anaglog types can use a small notebook. Spreadshee types can use Excel. Personal finance apps like Mint or Personal Capital are also good methods.

Low-hanging fruit

Now you're cooking

Cut our or at least cut down severely on those restaurant meals and snacks.

One person's trash...

Up your contributions

These people made some stomach-churning financial mistakes

Here is the article.

A misguided loan

Ashley Patrick, 34, regrets a 401(k) plan loan she and her husband took. The couple, who live in Charlotte, North Carolina, wanted money for a home remodeling project, and it seemed like a sensible strategy.

They were years from retirement. They had one child and were expecting a second, and they needed the extra space. Her husband’s coworkers, who seemed financially savvy, said it was a perfectly reasonable option.

Things snowballed, and not in a good way.

The first problem: The couple didn’t fully understand the loan. Patrick assumed it would use the 401(k) account as collateral – instead of an actual withdrawal. She was shocked to see that the account balance had dipped by $25,000.

Then, about a year into making payments, Patrick’s husband was laid off – and informed he had 30 days to pay back the outstanding balance. That amounted to nearly $20,000, a large sum to have to suddenly come up with. They could not do it.

Since they did not repay the loan on time, the IRS counted it as income, boosting their bottom line on the following year’s tax return. They wound up with an unexpectedly large tax bill.

The couple decided to put the remainder on a 0 percent interest balance transfer credit card. They threw all their muscle into paying it off in 18 months. “I didn’t know a lot, till it all happened to me,” Patrick said.

For people who find themselves also regretting a debt they took on, Patrick recommends paying it off as quickly as possible.

Silver lining: Patrick determined to educate herself about her finances, and today she blogs about her expertise on her own personal finance site, where she helps other people get a grip on their money.

Actionable Items

IRS, 401 K is not a good option to borrow money from. The tax is the issue if it cannot be paid back.

I’ve been in finance for 30 years. Here are the biggest end-of-year money mistakes I see people making

Here is the link.

The Biggest Lie In Investing That You Believe In | TEDx Talk

Here is the link.

Actionable Items

Learn how to calculate the index number. I got into stock market in June 2019, S & P 500 Index 2900, now Dec. 7, 2019 it is 3150. 

Based on the above graph from 2008 crash, 2009 stock go up 60%, index value is from 700 to 1000. 

Is it time to exit stocks?

Here is the article published on Oct. 11, 2014.

After the worst stock market drop of the year, plenty of people wonder if it's time to sell. The argument goes something like this: The S&P 500 is up nearly 200% since it bottomed out in early 2009. There hasn't been a correction since 2011, let alone a true "bear market" where things really drop. Surely it's time to exit...

But here's the truth: Most of us are better off doing nothing.

My most favorite topic 

4) Get a long-term plan and stick to it. 

If you are worried about the stock market right now, the best use of your time is to make sure you have the right plan.

Do you have the right mix of stocks and bonds and other assets?

"The typical long-term investor who has most of his or her investments in a retirement account of some sort needs to a) have a plan and b) stick with the plan," says Timmer.

From time to time, investors should look at their portfolios and ask if they need to rebalance. Given the phenomenal rise of equities since March of 2009, it's possible that you need to trim your stock allocation a bit.

But be wary of throwing out the entire game plan. Stocks still give the best return by far over the long run.

As humans, we worry a lot about those down days. But we forget that the bigger risk is missing the upswings.

【央视纪录片】《华尔街》第05集：硅谷方程

Here is the link.

以硅谷为代表的美国高科技公司、高科技产业的崛起帮助美国实现了产业升级，实现了经济可持续发展。如果说硅谷创造了美国的现在，那么又是谁创造了硅谷的现在？硅谷对世界科技具有巨大影响且久盛不衰，令人禁不住要问一声：硅谷有何奥秘？在这里我们将以硅谷为例揭示华尔街在科技创新、科技产业化以及加速产业升级过程中发挥的重要作用，探讨市场经济条件下产业升级到底要靠什么？政府、市场、企业、资本家、科学家如何分工。

【央视纪录片】《华尔街》第06集：投资之道 (720p.HDTV)

Here is the link.

早期的华尔街是富人俱乐部，投资对于普通人而言望尘莫及，在此后的200年时间里，从19世纪妇女投资群体的出现，到1967年第一位女交易员，美国的投资文化逐渐遍及普通家庭。 道琼斯指数的出现第一次为投资者提供了投资信息，此后诞生了一系列重要的投资方法，技术分析，价值投资，指数投资，人们从混沌的股票市场中，总结出投资之道，也诞生了如巴菲特这样的投资大师。 然而各种投资方法带来收益的同时也面临着不同风险，在学习大师的同时，对风险的承受力，更是投资者必须考量的因素。

- comments

道琼斯创造了道琼斯平均工业指数，这个指数可以代表整个股市的涨跌。凯恩斯提出了选美理论。格雷厄姆发明了价值投资，我们需要通过购买被低估的股票盈利。沃伦.巴菲特就是格雷厄姆的最优秀的学生之一。 经历过1929年大萧条，诸多个人投资者的失败让他们意识到他们需要更专业的投资机构来替他们做出正确的投资决策。于是， 美国的投资模式从个体投资者转变为专业机构投资者。

【央视纪录片】《华尔街》第01集：资本无眠

Here is the link.

华尔街是美国资本市场和经济实力的象征，它早已不是一个单纯的地理名词。现在，绝大多数金融机构与这条500米长的街道不再发生直接的物理关联，华尔街人也完全成为了一种精神归属，资本已经进入无眠时代。不仅是2008年席卷全球的金融风暴，贪婪与疯狂似乎是上天专门为华尔街设下的魔咒，它始终弥漫在华尔街的每一处空间。华尔街在不断为他人创造着财富，但又在不断地剥夺着他人的财富，华尔街在固守着自己的生存法则，但又在不断冲破传统的束缚。华尔街是矛盾的结合体，它在自身双面性的较量中，不断遭到毁灭，又不断得到重生。

20 Largest Holdings in the S&P 500 (AAPL,AMZN,FB)

Here is the link.

Top 5 Zaha Hadid Building Projects | The B1M

Here is the video.

Code screen project review

Dec. 4, 2019

Introduction

It is such great project to work on. I had to prepare online code screen hosted on hackerrank.com. I pushed myself to practice two mock interview on leetcode.com, and also wrote a post for each algorithm. The preparation was so different, since I could not believe my eye to read those performance.

Preparation

I had to push myself work hard. Last week I spent time to watch videos from youtube.com related to personal finance research. I took risk and did not study at all until I spent time to work on code screen Sunday afternoon. I spent time to relax Sunday, played tennis, and then worked on code screen.

I did work on two mock interview on Leetcode for code screen, surprisingly two times I solved all algorithms. I wrote six posts to share my practice with my performance of mock interview. I just could not believe that what is happening, this is the real performance, am I memorizing those algorithms?

Here are those algorithms I practice. I will show the link here.

210 Course schedule II, my post is here. 
207 Course schedule, my post is here. 
124. Binary Tree Maximum Path Sum, here is my post. (50 views, Dec. 4, 2019 9:29 PM)
239. Sliding Window Maximum, here is my post. 
69. Sqrt(x), here is my post. 
117. Populating Next Right Pointers in Each Node II, here is my post. 

Code screen

I learned from the phone screen. My understanding of problem was not so good, I came cross the bug since I did not notice that there is a uniqueness requirement in the problem statement. I also spent 5 minutes to simplify my logic to write if statement. I spent 55 minutes to take the test.

Next day I was notified that I passed the online code screen. I got a phone screen. 

Count down days for last phone screen in 2019

Dec. 4, 2019

Introduction

It was so surprising that I took code screen from dialpad on Sunday, December 1, 2019. It was three hour test, but only one algorithm. I was so nervous since I still remembered that I could not pass December 2018 Indeed.com Japan code screen, there are five algorithms. I failed one Amazon code screen in march, passed Amazon code screen in May, and then I passed Microsoft code screen in May as well.

Code screen

I learned from the phone screen. My understanding of problem was not so good, I came cross the bug since I did not notice that there is a uniqueness requirement in the problem statement. I also spent 5 minutes to simplify my logic to write if statement. I spent 55 minutes to take the test.

I have to push myself work hard. Last week I spent time to watch videos from youtube.com related to personal finance research. I took risk and did not study at all until I spent time to work on code screen Sunday afternoon. I spent time to relax Sunday, played tennis, and then worked on code screen.

I did work on two mock interview on Leetcode for code screen, surprisingly two times I solved all algorithms. I wrote six posts to share my practice with my performance of mock interview. I just could not believe that what is happening, this is the real performance, am I memorizing those algorithms?

Here are those algorithms I practice. I will show the link here.

Phone screen

I will have to spend time to work on a few algorithms, so I can share with community how to solve Leetcode algorithms.

Follow up 

Jan. 30, 2020

I wrote an answer on quora.com, and I used one of two mock interviewes I did to prepare Dialpad code screen/ phone screen.  Here is the link.

潘石屹：跑步是和自己的思考和对话！

Here is the article.

55岁的潘石屹，现在有三件大事儿，第一是跑步，第二是微博，第三才是赚钱。这位高高在上的老板在50岁时选择了跑步。潘石屹说：“我之所以选择跑步，是因为这是一个非常简单的运动，只需要一个人。就连羽毛球、乒乓球这些也需要两个人。我跑步的时候，可以自己静下心来，思考自己的事情。一边跑一边思考，自己跟自己对话。”

2012年，潘石屹50岁，坐拥200亿元身家，吃得好，穿得好，住得好，常常坐在舒适的沙发上，工作上也没有什么太操心的事，一切都得到的太容易。状态就是一个五十多岁的中国商人。

但是，这种平庸的生活状态让潘石屹感到不安。潘石屹说，他相信村里老人常说的那句话：“种瓜得瓜种豆得豆”，得到太容易就会不珍惜，最后必然失去。少年时，那段吃苦的岁月成为了潘石屹一段美好的回忆，五十岁后，他决定行动起来，重新做一些“吃苦”的事情。

坚持跑步，因为意识到了“中年危机”

潘石屹的健身教练叫Tony，中文名字叫倪腾。三年前，潘石屹经时任美国驻华大使骆家辉介绍，认识了明星教练Tony。

Tony收“学生”有个原则，只肯教那些希望改变自己人生的学生。潘石屹回忆与Tony第一次见面的场景，当时的他身材臃肿得很，体重达到了79公斤。

作为中国最富有的女人之一，她狂爱跑步，月跑量150公里，还完成过马拉松

Here is the article.

什么？！20公里1小时10分钟？！要知道，业余选手半程马拉松（21公里）能跑进1小时20分钟已经属于顶尖水平。而针对专业选手，目前的女子20公里世界纪录也在1小时3分钟左右。对比来看，张欣所说的1小时10分钟跑完20公里，确实有点让人瞠目结舌。

她是中国最富有的女人之一：

2015年胡润女富豪榜，以财富195亿元，排名第八；

2015年9月上榜《财富》杂志亚太最具影响力的25位商界女性；

2014年2月上榜《财富》杂志全球最具影响力的50位商界女性；

2012年入围福布斯2012全球权势女性榜百强排名第42……

比起财富，更让张欣迷恋的，却是跑步。

10 things I like to learn from Zhang Xin - top 5 richest woman in the world

Dec. 4, 2019

Introduction

I know that it will happen starting from day one I opened my coding blog. I know that I will show up with biggest surprise, mistakes, failure since ignorance, lack of good research, good faith of Christian belief. One thing is that I just spent a few hours in my life first time to learn SOHO as a business, Zhang Xin as a successful business woman of my age.

10 things I like to learn from Zhang xin

I just could not believe that I started to follow wechat articles from my friend, Apple manager Dr. Guo Linfeng. I came cross the article he shared, so I looked into, and I decided to look into those articles. What I did is to send those articles to my gmail first, and then look up one by one, who are those people.

Dec. 9, 2019 12:53 AM
I like to write 10 things I like to learn. I thought about a few times, I am not so sure what are the most important ones. Let me think about later.

Dec. 12, 2019 12:22 AM
1. First thing is that she worked hard five years from 15 years old to 20 years old, so she understood that life is tough, work full time with low pay makes life more tough in early age. She was able to save money. Compared to her, I could not save money, I wasted on clothing and TV etc., from 1984 to 1996.
2. Second thing is that she can compete and got scholarship for Oxford university master degree. I did apply Oxford university in 1996 but I did not get anything.
3. Third thing is that she competed best job in Goldman Saches. She still looked for better one in her 28 years old.
4. She definitely is smart and a good learner. She chose a good person to be husband, and also chose to start a company who went to public as well. A lot of smart ideas behind her business SOHU.
5. She did show a lot of records how she succeeded. She did very good talk on all kinds of presentation, interviews.
...

Zhang Xin, China's Self-Made Real Estate Billionaire | Forbes

Here is the link.

She tried a few years before 2007. It did not work. She could not figure out what she could do to make it work.

until 2007 - real estate in China - US investors understand and it worked out.

Creativity

Create a building from nothing - Just exciting ...

Treat every one as friends

Dec. 4, 2019

Introduction

It is the idea I learn from Pan shiyi. I like to think about this idea, treat every one as friends. How can I do that?

Lessons from SOHO China's 20 Year Journey

Here is the link.

CEO Zhang Xin Presents SOHO China's 2013 Annual Resuts

Here is the link.

(4 March, 2014, Hong Kong) SOHO China Ltd., Stock Code: HK410 announces today the Company's annual results for the period beginning January 1, 2013 and ended 31 December 2013. SOHO China achieved outstanding financial results over the Period. Core earnings reached a record high of RMB4.4 billion, up 33% over 2012. Core net margin also rose to a historical high of 30%. The Company made major progress in during in the Period in Beijing and Shanghai, with Wangjing SOHO, Galaxy SOHO, SOHO Century Plaza and Qianmen projects all achieving strong leasing results. The board has approved a final dividend of RMB0.13 per share, bringing the annual dividend to RMB0.25 per share for the full year. The Company has consistently paid a high and stable dividend, with an average dividend yield of 5.5% over the last four years.

Facebook Stock Is In A Buy Zone; Is This FANG Stock A Good Buy?

Here is the link.

Facebook (FB), one of the FANG stocks, is getting renewed attention after a strong third-quarter earnings report. The launch of Facebook Pay helped spark a rise in FB stock above a cup-with-handle buy point. Among the big-cap winners of the decade, FB stock soared almost 600% from July 2013 to July 2018. Since then, FB stock has been on a roller-coaster ride, as growth moderates and regulators and politicians take aim. Yet the company seems to have regained its stride. So is Facebook stock a buy right now?


Fact 1:
FB stock soared almost 600% from July 2013 to July 2018.

Zhang Xin China's real estate mogul

Here is the link.

Zhang Xin went from working in a sweatshop to being a billionaire real estate developer? Lesley Stahl reports.

Davos 2016 - Where Is the Chinese Economy Heading?

Here is the link.

Speakers: -Gary D. Cohn, President and Chief Operating Officer, Goldman Sachs, USA. -Ray Dalio, Chairman and Chief Investment Officer, Bridgewater Associates, USA. -Fang Xinghai, Director-General, International Economic Department, Office of the Central Leading Group for Financial and Economic Affairs of the People's Republic of China. -Jiang Jianqing, Chairman of the Board, Industrial and Commercial Bank of China, People's Republic of China. -Christine Lagarde, Managing Director, International Monetary Fund (IMF), Washington DC. -Zhang Xin, Chief Executive Officer and Co-Founder, SOHO China, People's Republic of China.

I like to take some time off to watch the video. I need to test what percentage I can understand the topics.

How poor people survive in the USA | DW Documentary

Here is the link.

Homelessness, hunger and shame: poverty is rampant in the richest country in the world. Over 40 million people in the United States live below the poverty line, twice as many as it was fifty years ago. It can happen very quickly. Many people in the United States fall through the social safety net. In the structurally weak mining region of the Appalachians, it has become almost normal for people to go shopping with food stamps. And those who lose their home often have no choice but to live in a car. There are so many homeless people in Los Angeles that relief organizations have started to build small wooden huts to provide them with a roof over their heads. The number of homeless children has also risen dramatically, reaching 1.5 million, three times more than during the Great Depression the 1930s. A documentary about the fate of the poor in the United States today.

How the rich get richer – money in the world economy | DW Documentary

Here is the link.

Exploding real estate prices, zero interest rate and a rising stock market – the rich are getting richer. What danger lies in wait for average citizens? For years, the world’s central banks have been pursuing a policy of cheap money. The first and foremost is the ECB (European Central Bank), which buys bad stocks and bonds to save banks, tries to fuel economic growth and props up states that are in debt. But what relieves state budgets to the tune of hundreds of billions annoys savers: interest rates are close to zero. The fiscal policies of the central banks are causing an uncontrolled global deluge of money. Experts are warning of new bubbles. In real estate, for example: it’s not just in German cities that prices are shooting up. In London, a one-bed apartment can easily cost more than a million Euro. More and more money is moving away from the real economy and into the speculative field. Highly complex financial bets are taking place in the global casino - gambling without checks and balances. The winners are set from the start: in Germany and around the world, the rich just get richer. Professor Max Otte says: "This flood of money has caused a dangerous redistribution. Those who have, get more." But with low interest rates, any money in savings accounts just melts away. Those with debts can be happy. But big companies that want to swallow up others are also happy: they can borrow cheap money for their acquisitions. Coupled with the liberalization of the financial markets, money deals have become detached from the real economy. But it’s not just the banks that need a constant source of new, cheap money today. So do states. They need it to keep a grip on their mountains of debt. It’s a kind of snowball system. What happens to our money? Is a new crisis looming? The film 'The Money Deluge' casts a new and surprising light on our money in these times of zero interest rates.

Yishan Wong - Engineering Management - Hiring

Here is the article.

This is the article I like to think about carefully. It is not easy to win all votes from interviewers. I am not sure what is best strategy to ace the onsite interview from Facebook.

Research - hire the best 

Hiring is a function requiring cooperation from multiple departments and consists of multiple phases; roughly speaking: sourcing, screening, interviewing, deciding, offer-making, and closing. At each stage this means making the relevant actions the top priority of the responsible actor, e.g. it means that recruiters contact a lead immediately, and schedule an interview or follow-up conversations to occur at the first humanly-possible time slot. It means that doing an interview takes priority over other work. It means that hire/no-hire decisions are made as soon as possible upon conclusion of the interviews, and offers made with subsequent speed. Recruiters don't wait until the next day to call a candidate or schedule them for next week. Interviewers don't skip an interview because they have other things to do. Interviewers don't wait a few hours or days to give their feedback on an interview. Hiring managers coalesce the feedback, facillitate a decision, put together an offer, and begin closing the candidate immediately.

"Hire the best" is a well-known Silicon Valley maxim, but many companies fail to differentiate between "hiring the best" and "hiring the best candidate you interviewed."

How to be one of top-notch people? How to evaluate?

This has a number of effects. First, it means that more people are bought in to the candidates who eventually join, and team bonding gets a jumpstart - new people join a workplace where they have already met several people, and know that these people approve of and welcome them. Second, it puts the power of maintaining the quality of one's workplace into everyone's hands. Personnel excellence is not just something management handles off in some ivory tower, it lives and dies through the practice of individuals. A question is often asked in hyper-growth companies, "How are we ensuring that all these people we're hiring are top-notch people?"

Actionable Items

Six stages:

1.  sourcing
2.  screening
3.  interviewing
4.  deciding
5.  offer-making
6.  closing.

【舒立时间】潘石屹 张欣:我俩如何做慈善

Here is the link.

2013.12.29文茜的世界周報／收購通用汽車大樓 張欣首談美國地產

Here is the link.

2013.11.24文茜的世界周報／陳文茜vs.張欣 兩岸智慧女性經典對談

Here is the link.

0912文茜財經週報／深圳女工華麗轉身 張欣的傳奇故事

Here is the link.

張欣，一個你不能不認識的名字，14歲半父母離異，單親媽媽帶著她從北京到香港，張欣從此當起生產線上的女工作員，她沒有向命運低頭，一路咬著牙，近20 歲時以全部積蓄，買了一張機票到英國讀語言學校，她賣起英式炸魚薯條半工半讀，一名女工，居然憑己之力無人協助，竟完成劍橋大學MBA碩士學位，並到華爾街工作。