[Book Review] Freakonomics

[Freakonomics: A Rogue Economist Explains the Hidden Side to Everything] – by Stephen J. Dubner and Steven Levitt was a great book. 

It was different. And I liked it.

Freakonomics makes you look at the world in a different way.  The book explores the real reasons for the 1990s crime drop, information asymmetry, real estate agents, correlation vs. causation, and, most importantly, in the introduction, which discusses the fundamental principles of incentives. From then on, each chapter focuses on answering, or more so addressing an unusual question.

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[Book Review] How to Be Original

I finished reading  Originals, – by Adam Grant.

  • Adam Grant, who is rated the best professor at UPenn Wharton’s Business school, is an organizational psychologist who has written several #1 NYT books. In Originals, he discusses how Non-conformists (procrastinators, slow people, and other different personality traits) succeed in life with their increased creativity
  • This is my book review and 15 points on HOW TO BE ORIGINAL
How to champion Originality:
  1. Question the default
    • Don’t take the status quo; ask why they exist in the first place and how to improve
  2. Triple the number of ideas you generate
    • Every innovator swings and misses; more swings, more hits!
    • Baseball players hit 1/3
  3. Immerse yourself in a new domain
    • Broaden your frame of reference
    • As a great scientist learns art forms, broaden your skills
    • Job rotation
    • Learn a new culture (work in a new foreign country)
  4. Strategic Procrastination
    • In the midst of generating ideas, stop midway
    • Allow yourself to incubate current ideas and foster more while on break
  5. Seek feedback
    • Radical transparency about feedback (Principles by Dalio)
    • Accept and champion feedback from peers and enemies
  6. Balance your risk portfolio
    • Balance your risk areas (an entrepreneur who has a day job)
    • Mitigate risk in many aspects of life, so you can TAKE risks in others
  7. Highlight reasons NOT to support your ideas to make virtues clear
    • Describe 3 biggest weaknesses of your idea to understand virtues
    • Harder it is to create more weaknesses, you begin to realize virtues
  8. Make Ideas more familiar
    • Repeat yourself for unconventional ideas.
    • EXPOSURE and mix your new ideas with old ones, by using analogies and comparisons
  9. Speak to a different audience
    • Speak to disagreeable people who share your methods
    • Challenge authority and use your enemies to help shape you
    • Tough people with similar approaches
  10. Be a tempered radical
    • manage emotions
  11. Motivate yourself differently when committed/uncertain
    • When determined, focus on progress left to go (How close you are to reaching target!)
    • When unmotivated, focus on how far you’ve ALREADY gone (You’ve done so much; don’t quit now!)
  12. Don’t try to calm down
    • When nervous, turn anxiety into excitement and enthusiasm instead of trying to suppress it
    • Don’t say “just calm down” instead say “I am excited”
    • Nervous and excitement = synonyms
  13. Focus on the victim who is harmed, NOT the perpetrator
    • Focusing on perpetrator fuels anger and wrath and negativity
    • Focus on victim = positive anger to channel into positive action instead of revenge
    • Instead of harming the harmer, help the harmed
  14. Realize you are not alone
    • Even just 1 ally who believes in your vision can tackle the problem together will make you much more successful
  15. If you don’t take initiative, status quo will persist
    • Exit, Voice, Persistence, Neglect = 4 ways to respond to dissatisfaction
    • Might be good to take action (exit) if other methods don’t work

Grateful Day 85: I am grateful for naps

Reading Day 26: It’s crazy how much reading I’ve done this month, just like how much magic I did in February

I’ve already read 12 books this year and I plan to hit 50 for 2018!

[Book Review] The Wealthy Barber Returns – David Chilton

wealthy barber returns

David Chilton sounds like me, but trapped in a 40-year-old body.

His writing style is extremely informal, and he often uses sarcasm, puns, and incredibly badly timed & cringe-worthy jokes…

Basically me!

Either way, his books, The Wealthy Barber & The Wealthy Barber Returns are both great finance books.

As the name suggests, the book teaches you how to be wealthy, even if you were a barber.

The concepts are basic and fundamental; great for anyone!

Save more, spend less, invest and compound, and don’t get yourself in debt.

But Chilton not only provides great examples and humorous tips on how to do all those things, but he also understands that although the theory is simple, it is hard to execute.

The chapters are short (often 2-4 chapters each).

The book is broken down into many segments so it feels like actually a really short read.

I aspire to be a financial advisor or someone who helps the general population with financial advice…and although I do think that I know a good amount of information on finance, it seems awkward to take the advice for an 18-year old, doesn’t it?

I hope for a world where everyone, my friends, family, and the general population is financially literate and is not burdened by the concept of money. And I think a great way to spread financial knowledge is through reading.

And that’s why you need to read his book…Read this book if you want to be a Wealthy Barber.

Good Luck and always reach out! I am always free to share my investment journey