Annual subscription/ monthly subscription | My plans

 

Annual subscription/ monthly subscription | My plans

May 10, 2022

It is so important for me to get organized and review my subscription and services I got from USA/ Canada. I like to put together a check list so that I can manage better. 

1. Exponent / monthly subscription, annual subscription $149 per year, renew March 23, 2023 | Paid by US citi credit card
2. Leetcode / Annual subscription, $159.00, Nov. 11, 2022 | Paid by US citi credit card
3. SeekingAlpha | Citi credit card | Membership Jan 22 - Dec 22, 2022, 12/14/2021 $179
4. Google - youtube - free download | GOOGLE*YOUTUBEPREMIUM INTERNET NS | $13.43 | Scotia credit card Auto payment
5. Microsoft - office software - monthly | MSFT *<E0800IF8XH> MSBILL.INFO ON | $12.32 | Scotia credit card Auto payment
6. Rogers - monthly payment | ROGERS/FIDO BILL | Scotia credit card Auto payment - $30/ 1GB data
7. Amazon kindle - unlimited edition - monthly (June 21, Scotia bank visa card $10.49)
8. Zillow - rental listing - $29.99, Feb. 27, 2022 - one month rental listing charge | Citi credit card | ZILLOW *RENT LISTINGS 866-961-2570 WA
9.  ENA*APPLIANCEWARRANTY 886-386-5286 NC | $125.03 - 05/01/2021
10. BROWARDPLUMBING PARKLAND FL | $890 | Citi credit card | 08/09/2021
11. Skype | Skype Number, 12 month subscription (+1 561 948 xxxx) | Total amount: CAD31.14 | Transaction date: Aug 18, 2021 | 
12. iRun club membership - $40/ annual
13. Auto insurance - ICBC - around $1500 Canadian dollars
14. Auto maintenance - $1,000 Canadian dollars

July 8, 2022

I like to consider the following service: 

1. Linkedin learning - annual subscription, monthly $24
2. Udemy courses purchased - $240 dollars - system design - Need to finish those courses first

US citi credit card:

August 16, 2022

Vancouver open 2022 tennis 

Plan to purchase weekday pass, so that I can learn better about tennis

Sept. 6, 2022

Linkedin learning - Annual subscription, $342/ annual subscription, close to $30/ month.

Here is the blog starting my trial subscription. 

Sept. 8, 2022

AWS service 12 months free - Sept. 2021 - Sept. 2022, $28/ month plan - consider to make purchase and learn more about AWS

Oct. 7, 2022

Dec. 11, 2022

Leetcode, $159.00 dollars

Dec. 24, 2022

SeekingAlpha.com, $239.00 

Jan 27, 2023

Cancel tryexponent annual subscription 

Feb. 23, 2023

Sirius streaming service - First three month free - August 2023 - $24.00/ month including GST, PST 12% tax 

Car + Sirius app 

Feb. 24, 2023

Amazon unlimited kindle membership - Cancelled on Feb. 24, 2023 

March 29, 2023

Amazon prime membership $99 annual fee

May 29, 2023

MorningStar subscription - Annual fee $240 US dollars 

Morningstar annual subscription - Day one

How to Invest with David M. Rubenstein

Here is the link. 

What do most successful investors have in common? David M. Rubenstein, co-founder of The Carlyle Group, has interviewed the greatest investors in the world to discover the time-tested principles and indispensable tools that guide their practices. In his new book, “How to Invest,” Rubenstein reveals the thinking of top investors. Hear his transformative discoveries and advice in this presentation. Moderated by Neil Irwin.

Centerbridge Partners

 Centerbridge Partners is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities.

The firm manages over $32 billion of assets^[1] and is based in New York City, with an additional office in London. The firm invests in both control (private equity and public debt with a "loan-to-own" strategy) and non-control (public market debt, public market equities, and other publicly traded securities) opportunities.

The firm ^[2] was founded in 2005 by Jeffrey Aronson and Mark Gallogly. Aronson had previously been the head of distressed securities and had founded the leveraged loan business at Angelo, Gordon & Co., which he had joined in 1989 from L.F. Rothschild & Co. Gallogly was formerly a senior managing director and head of private equity investments at the Blackstone Group from 2003 until his departure. At Blackstone, Gallogly was heavily involved in the firm's investments in New Skies Satellites and Sirius Satellite Radio among others and had joined the firm in 1989 from Manufacturers Hanover Trust Company, where he worked in acquisition finance.^{[citation needed]}

SABRE repositions for revenue opportunities, cost savings

 Sabre said it is repositioning the business as part of plans to go after new revenue opportunities and bring down costs.

Job losses are part of the strategy, according to a statement from president and CEO Kurt Ekert, who said the team would be impacted. Ekert added the CEO role in late April after becoming president in late 2021.

 “This is an exciting time to be taking the helm at Sabre," he said. "We operate in a dynamically changing industry, where customers demand modern retailing technologies that deliver innovation at pace and scale. We believe this is the opportune time to drive change at Sabre as well.”

A 15% reduction in employees is expected to be completed by the end of the second quarter which Ekert said would position the company better.

The restructure will cost the company $50 million in 2023 and $20 million in 2023, Sabre said in an analyst call.

The cost saving measures are part of the company's target of $500 million in free cash flow in 2025 and $900 million in adjusted EBITDA.

Reducing costs and boosting free cash flow are just two of Sabre's current priorities with sustainable growth and driving innovation also on the list.

Under the travel solutions business, developments will include global distribution system expansion, a global multi-source B2B lodging platform and further work around airline retailing including NDC.

Sabre also sees opportunity in its payments business following the acquisition of Conferma last summer as well as its partnership with Mastercard to speed up the use of virtual cards for B2B payments.

Growth is also expected to come from the hospitality solutions unit of the company including its Intelligent Retailing offering.

The company also said it is expecting a $200 million cost reduction annually including $100 million in the second half of 2023 put down to the "resource realignment."

For the first three months of 2023, Sabre reported revenue of $743 million compared with $585 million the previous year.

The growth was driven by increases in air, hotel and other travel bookings, the company said, with distribution bookings up 49% compared with Q1 2022.

Sabre’s net loss due to shareholders was $103 million compared with a net income of $42 million for Q1 of 2022 while adjusted EBITDA was $58 million versus $5 million year over year.

Revenue for the travel solutions business increased 27% to $677 million, including distribution revenue, which was up 53% to $526 million, and IT solutions revenue, which declined 21% to $152 million. Hospitality solutions increased almost a third to $74 million, attributed to an increase in central reservation system transactions.

Clayton Magleby Christensen

 Clayton Magleby Christensen (April 6, 1952 – January 23, 2020) was an American academic and business consultant who developed the theory of "disruptive innovation", which has been called the most influential business idea of the early 21st century.^[1][2] Christensen introduced "disruption" in his 1997 book The Innovator's Dilemma, and it led The Economist to term him "the most influential management thinker of his time."^[3][4] He served as the Kim B. Clark Professor of Business Administration at the Harvard Business School (HBS), and was also a leader and writer in the Church of Jesus Christ of Latter-day Saints (LDS Church).^[5] One of the founders of the Jobs to Be Done development methodology.

Christensen was also a co-founder of Rose Park Advisors, a venture capital firm, and Innosight, a management consulting and investment firm specializing in innovation.^[6]

SABR | Senior notes

1.  9.25%  | $775 million | Due 2025
2. 7.375% | $850 million | Due 2025 
3. 11.25% | $550 million | Due 2027 

What Type of Bond Is a Senior Note and How Does It Work?

senior notes

 Are senior notes good or bad for stock?

Investing in senior notes poses less risk compared to junior notes or stocks, but it isn't risk-free. During bankruptcy, investors in senior notes get paid only after secured creditors' claims have been paid, and other creditors may have higher-priority claims.

A senior note

 A senior note is a type of bond that takes precedence over other debts in the event that the company declares bankruptcy and is forced into liquidation. Because they carry a lower degree of risk, senior notes pay lower rates of interest than junior bonds.

尼克·李森

 

NickLeeson.com

尼克·李森（英语：Nick Leeson，1967年2月25日—），曾任英国巴林银行投资交易员。他的交易失利导致英国历史最悠久的投资银行——巴林银行倒闭。

李森从1992年开始隐瞒亏损，伪造买卖纪录，造假交易，仅私下留存粗略的真实交易回报。事件始于1995年1月16日，李森在新加坡和东京交易市场进行金融衍生工具投机交易，卖出跨式（又称卖出鞍式,，short straddle，期权交易策略的一种）赌股价指数不会大幅波动。然而，在1月17日发生的阪神大地震重创日本经济，也使得日本股市大跌，而李森的交易也随之遭殃。李森试图补回他的损失，做了一系列风险越来越高的投资决策，赌日经会停止下跌且快速回升；但又再度碰壁，使亏损越积越多。最后，银行发现李森的交易累积了高达14亿美金的损失，也就是银行资本额的两倍。因此导致银行倒闭。

李森逃到马来西亚、泰国，最终在德国被逮捕，并且于1995年11月20日被引渡到新加坡。虽然李森在1月16日的交易行为有得到授权，但他仍因欺瞒上级交易风险及损失程度而被起诉。有些评论家认为银行自我审核制度的缺陷和风险管理的陋习占了主要因素，新加坡的官方报告也指出，银行管理的疏失是主要关键，主管早已知悉李森用来作假的账号。判决结果他必须在新加坡的樟宜监狱服刑六年半。李森在1999年出狱，并被诊断出罹患结肠癌。

1996年，李森在服刑时发行了他的个人传记《我如何弄垮巴林银行》，书中详细描述他的所作所为。这本书后来在1999年被拍成同名电影（台湾上映时片名改译为《A钱大玩家》），由伊旺·麦奎格和安娜·弗瑞尔主演。

尼克·李森现居于爱尔兰西部的哥尔威郡的巴纳。虽然此前在狱时离了婚，现在的他已经再婚且成为餐后演说的一般观众。他在2005年4月被任命为加尔威联足球俱乐部的商务经理，并在2011年2月时离职。他仍在操作股市，但仅使用个人资本。

2005年6月23日，尼克·李森推出新书Back from the Brink: Coping with Stress，再续了《A钱大玩家》后尼克·李森的故事。它诉说了尼克·李森完整的个人故事。其中与顶尖心理学家伊凡·提勒尔的深度对谈显示了连续不断的压力如何影响了尼克·李森以及世间大众的心理和生理健康。

巴林银行

巴林银行（Barings Bank），是英国历史最悠久的银行之一，于1762年在伦敦开业，创办人为弗朗西斯·巴林爵士。

巴林银行因从事国际贸易融资而致富，在英国担当重要的角色，英国女王伊利莎伯二世亦曾经为其客户之一。 巴林银行从来未在伦敦证券交易所上市，资产所有权全在高级管理层及慈善基金会的手上。 

巴林银行由弗朗西斯·巴林爵士创立于1762年，当时该银行名为“约翰和弗朗西斯·巴林公司”，弗朗西斯·巴林爵士是约翰·巴林的儿子，该家族起源于德国的不来梅，却居住于德国及英格兰两地。

1806年，弗朗西斯·巴林爵士的儿子亚历山大·巴林加入该公司并与Hope & Co的伦敦办事处合并，改名为“巴林兄弟公司”（Baring Brothers & Co）。当时，亚历山大·巴林在Hope & Co与Henry Hope一同工作。

在亚历山大·巴林领导巴林银行时期，该银行参予了一宗非常重要而深远的交易：向英国政府提供融资对抗拿破仑。从1798年至1814年间，当时英法两国正进行战争，亚历山大·巴林为英国首相小皮特提供担保，使国家有足够的军费来支持漫长的战争。

同一时间，1803年，巴林银行曾提供融资协助美国政府向法国进行路易斯安纳购地。这笔交易间接资助了拿破仑的军费。技术上，美国并非向法国直接购买，而是向巴林兄弟公司及Hope & Co．。美国以国家债券方式付款给巴林，而拿破仑则以每$100有87.5%的折让卖给巴林。结果，拿破仑在这宗交易获得现金$8,831,250。亚历山大·巴林先与法国的国库署长François Barbé-Marbois在巴黎协商，再到美国取债券并回到法国付款。在此事件上，亚历山大·巴林虽被指责为法国筹募军费，但他的原意是为新建立的美国总统汤玛斯·杰佛逊扩张领土。

拿破仑在滑铁卢之战中战败后，巴林银行认为欧洲经济将有赖于法国的财政状况，因此在与英国外交大使商讨后，巴林银行决定向法国提供巨额赔款的贷款。法国首相黎塞留及外交大臣夏尔·莫里斯·德塔列朗-佩里戈尔均认为该贷款是对欧洲和平的保证。1815年，维也纳会议中的英国、法国、奥地利、普鲁士及俄罗斯的代表均认为没有巴林银行的担保，就没有一条具持久影响力的和平条约。

在19世纪初期至中期，巴林银行在国际金融界的地位如日中天。在1830年代后期至1840年代的欧洲，经济萧条，巴林是欧洲大陆中规模最大的银行。1839年，英格兰银行陷入财政危机，巴林银行的汤马斯·巴林协助支撑著央行。在1847年，该银行在同样情况下拯救了法兰西银行。但是，巴林银行在美国也有许多具影响性的交易。巴林成为了当时联邦政府及许多州政府的主要来往银行。巴林资助了美国银行（当时美国的中央银行）及许多当地的私人公司，以及当时发展中的美国铁路事业。1848年，墨西哥战争后，巴林安排融资协助美国向墨西哥政府购买得克萨斯州。在美国内战期间，巴林也协助美国政府向俄罗斯购买阿拉斯加州。虽然这宗交易被取笑为苏厄德的愚蠢。（威廉.H.苏厄德为林肯的内政部长），巴林也预计到这笔收购的巨大潜力。

其后，巴林银行由于较为冒险的政策而过分认购阿根廷及乌拉圭的债务，致使陷入严重的财政危机，促成英国的1890年恐慌（Panic of 1890）。该银行后来得到英格兰银行行长William Lidderdale所组成的财团拯救，危机得以化解。

自此，巴林银行作风变得严谨，并逐渐成为英国统治集团的一员。该行曾与英国国王乔治五世建立联系，开展了与英国皇室的紧密关系直至倒闭。（威尔士王妃戴安娜正是巴林家族其中一支的孙女。）巴林家族的5位男性祖先更被追封为贵族，各人名号分别为：雷夫尔斯托克男爵、诺斯布鲁克伯爵、亚希伯顿男爵、格伦戴尔的豪伊克男爵及克罗默伯爵。在这段时期，该银行的严谨作风虽然阻碍了其在财经界的发展，但也因此作风而得以拒绝向在第一次世界大战后复元的德国提供融资，避开了在经济大衰退中其他英国银行所经历的巨额损失。

在第二次世界大战期间，英国政府籍著巴林银行拍卖在美国及其他地方的资产，以应付军费的开支。

1988年，巴林更获得伊利莎伯二世女王颁赠杰出成就奖。

1995年2月26日，巴林银行倒闭，其原因是一名在巴林新加坡分行任职交易员的尼克·李森在金融衍生工具进行超额交易投机失败，导致损失14亿美元。巴林倒闭后，以1英镑的象征价格卖给荷兰的ING集团，并成为该集团成员之一。巴林银行及后改名为“巴林资产管理”，继续在金融业立足。

1996年，ING集团宣布不再使用<巴林>此一名称，因为会造成不利效应^[1]。

2009年6月30日，上海巴林投资管理有限公司于中国上海成立，为中国的投资者提供投资管理与咨询服务。

2016年，美国万通将 Barings 与多家金融公司合并，成立巴林资产管理公司。

克里斯汀生TED演說「你要如何衡量你的人生？」(中文字幕)

Here is the link.

923,458 views Aug 6, 2012

人生的誘惑遠比我們想像的多，而監獄或許也沒那麼遠， 創新大師克里斯汀生經歷癌症、心臟病，以及中風的煎熬考驗， 提出最重要的人生三問： 如何從工作中得到快樂？ 如何擁有美好的家人、朋友關係？ 如何堅持原則正直一生？ 他將傑出的企業理論套用於生命的深刻省思， 而答案，等你追尋。 也許，這本書將改變你的人生選擇。 2010年春，創新大師克里斯汀生教授對哈佛商學院畢業班發表一場極具影響力的演說，他舉出一些哈佛商學院同班同學的例子，許多人絕非在畢業時即刻意計劃要跟配偶離婚、跟小孩疏離，甚至鬧出醜聞、犯罪入獄，為何追求成就的人常常掉入引發不幸的陷阱？他們的人生策略究竟出了什麼問題？ 最誠懇的剖析 這場演說之所以引起廣大迴響，不單是深刻啟發了人們對生命中重要問題的思考，更由於克里斯汀生教授當時遭逢人生重大的試煉──他罹患了奪走父親性命的同一種淋巴癌，正在忍受化學治療的煎熬。與疾病奮戰中，他反覆思索自己的人生是否過得有意義，並終於了解「上帝衡量我的人生，不是用金錢，而是我可以幫助多少人，變成更好的人」。 最迫切的忠告 在這本突破性的新作中，他希望每個人都要能回答自己三個重要問題： 1.如何使工作生涯成功、快樂？ 2.如何讓自己與配偶、兒女、朋友的關係成為快樂的泉源？ 3.如何堅守原則以免除牢獄之災？ 人生有很多問題既複雜且困難，每個人的際遇也都不同，你必須自己努力去尋找答案。 最真摰的回顧 克里斯汀生教授花了幾十年的時間才徹底了解他的人生，並分享自己曾嚮往成為《華爾街日報》編輯、被自己創設的公司開除、發現對教學的熱情、以及教養孩子等歷程，如何交叉運用審慎策略和應變策略來因應人生的突發狀況。 他發現，哈佛商學院課堂中教導的理論，不僅能解釋企業問題，也能拿來管理並預測自己的人生。這本充滿啟示與智慧的書，將幫助你了解，如何依心目中的優先順序，調配行動、時間、及資源，以管理好人際關係，甚至改善教養方式，並果決地回答：「你要如何衡量你的人生」，進而找到人生的意義與幸福。 這是第一本將企業管理的研究成果套用在人生規劃上的書，神奇地將商管書與勵志書結合於一體，你將看到，當彼得．杜拉克遇上米奇．艾爾邦時釋放出的燦爛火花。 《你要如何衡量你的人生？》博客來購買：https://goo.gl/rlgtgU

你要如何衡量你的人生/哈佛商學院最重要的一堂課/必看經典好書/懸緝動態說書

Here is the link. 

845 views Dec 31, 2022 #財富自由 #自我成长 #自我成長

「你要如何衡量你的人生」 這本書又稱哈佛商學院最重要的一堂課， 作者克雷頓.克里斯汀生 是哈佛商學院的教授。 他在商界向來具有舉足輕重的影響力， 也曾協助許多企業成功應變市場變遷。 晚年他是得了癌症後才與他的學生及朋友合著這本書， 這本書賦與了很大的使命， 雖然他在2020年1月已經去世， 但他留下來觀念，值得大家一再去省思。 這本書從人生三個區塊來探討，並可以問自己： 1. 我的工作生涯可以成功、快樂嗎？ 2. 我和配偶、小孩及朋友的關係可以成為快樂的泉源嗎？ 3. 我這一生會堅守原則，以免除牢獄之災嗎？ 懸緝擁有這本書也有十年之久， 也是我最喜歡的經典書之一， 因此，我透過整理並製作出一部影片， 讓觀眾藉由影像、聲音、配樂， 更容易獲得一本書的觀念， 尤其又是很有意義的一本書。

Meta | 2023 February 1, 2023

Meta stuns Street with lower costs, big buyback, upbeat sales

By Katie Paul

 and Nivedita Balu

February 1, 2023 4:48 PM PSTUpdated 4 months ago

Feb 1 (Reuters) - Meta Platforms Inc's (META.O) stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the "Year of Efficiency."

The parent of Instagram and Facebook, which has fallen on hard times amid a broad post-pandemic slump in digital ads, is focused on improving its content recommendations powered by artificial intelligence and its ad targeting systems to keep users clicking.

Meanwhile, it will cut costs in 2023 by $5 billion to a range of $89 billion to $95 billion, a steep drop from the $94 billion to $100 billion it previously forecast, and it projected first-quarter sales that could beat Wall Street estimates.

Meta stock surged nearly 19% in after-hours trade. If gains hold on Thursday, it would set up the shares for their biggest intraday surge in a decade and added more than $75.5 billion to its existing $401 billion market capitalization.

Zuckerberg described the focus on efficiency as part of the natural evolution of the company, calling it a "phase change" for an organization that once lived by the motto "move fast and break things."

"We just grew so quickly for like the first 18 years," Zuckerberg said in a conference call. "It's very hard to really crank on efficiency while you're growing that quickly. I just think we're in a different environment now."

The cost cuts reflect Meta's updated plans for lower data-center construction expenses this year as part of a shift to a structure that can support both AI and non-AI work, it said in a statement.

The digital ad giant faced a brutal 2022 as companies cut back on marketing spending due to economic worries, while rivals like TikTok captured younger users and Apple Inc's (AAPL.O) privacy updates continued to challenge the business of placing targeted ads. 

Meta in November cut more than 11,000 jobs in response, a precursor to the tens of thousands of layoffs in the tech industry that followed.

"Our management theme for 2023 is the 'Year of Efficiency' and we're focused on becoming a stronger and more nimble organization," Zuckerberg said in a statement.

Monetization efficiency for Reels on Facebook, a short-form video format, had doubled in the past six months and the business was on track to roughly break even by the end of 2023 or early 2024 and grow profitably after that, he said on the conference call.

INVESTMENTS STARTING TO PAY OFF

"Meta's better-than-feared results should refute concerns over the state of the digital advertising industry following Snap's horrible guidance earlier this week," said Jesse Cohen, senior analyst at Investing.com.

"Despite all the challenges Meta must deal with, there are signs the business is still doing well," Cohen said.

Shares of peer Alphabet Inc (GOOGL.O) were up 3.3% while Snap Inc (SNAP.N) stock rose 1% in after-hours trade on Wednesday.

On the conference call, executives said Meta's investments in AI-surfaced content and TikTok competitor Reels were starting to pay off. The company also has been using AI to increase automation for advertisers and target ads using less personal data, resulting in higher return on ad spend.

Meta forecast first-quarter revenue between $26 billion and $28.5 billion. That was in with analysts' average estimates of $27.14 billion, according to Refinitiv.

Zuckerberg said generative AI - technology for producing original prose, imagery or computer code on command - would be the company's other big theme for this year, alongside efficiency.

Meta was planning to launch several new products that would "empower creators to be way more productive and creative," he said, while cautioning about the cost associated with supporting the technology for a large user base.

However, net income for the fourth quarter ended Dec. 31 fell to $4.65 billion, or $1.76 per share, compared with $10.29 billion, or $3.67 per share, a year earlier. Analysts had expected a profit of $2.22 per share.

The decline was largely due to a $4.2 billion charge related to cost-cutting moves such as layoffs, office closures and the data center strategy overhaul.

The company previously said it was planning to account for much of that cost in 2023.