2 Links for a Focused Friday Reading

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Written by

Jae Jun

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Word of the Day: Focus

I’m trying to simplify and reduce more noise, clutter and media for you all.

First, here are two reads that will interest you.

#1. The Outlook for Equities by Howard Marks

Stocks are in stage 2 of a 3 stage bull market says Howard Marks. The memo is 9 pages and Howard Marks writes about some complex topics so if you want to save the trouble, Market Folly has written a brief overview.

Or just read the bolded text in the memo and you should get the flow of what Marks is talking about.

He is a good highlighter.

#2. Billionaire Bill Ackman’s Ill-Fated Bike Ride: “His Mind Wrote a Check That His Body Couldn’t Cash”

An interesting read into Ackman’s larger than life personality that makes him win or lose big.

Thanks to PakiyaFunds for the link.

Remembering the 80/20 Rule

The Pareto principle (also known as the 80–20 rule, the law of the vital few, and the principle of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes – Wikipedia

I thought I was an efficient and focused guy, but lying to oneself is one of the easiest to do.

Here is the short version. Old School Value is no longer a blog. I kept believing and acting like it was, and I told you guys that it was. But it isn’t.

I have this tendency to root for the small guy, the underdog, the one that most others would give up on, so I’ve tried to keep Old School Value nice and cozy in honor of when I first started this website.

But with any growing business, it has to evolve.

Yes, I’ve said it. Old School Value is a business and evolving is a healthy sign. As an investor, I should know that businesses must evolve to grow.

And to continuing growing I spent some time to honestly reflect on how I am currently handling things. This has prompted me to change some things.

Two Skills I Acquired as an Entrepreneur

In case you didn’t know, it’s still just one guy behind this website.

With a seemingly endless growing list of tasks and never enough time to finish them, even though I’m a workaholic (can’t let the wife know though), I have acquired and finessed a couple of skills as an entrepreneur which I want to share.

Skill #1: Over-working and under-thinking

If you are a long time reader, you’ll know what I mean.

Here are some of the tasks that I undertake on my own.

  • creating spreadsheets
  • researching finance models
  • writing articles
  • creating images
  • web design
  • creating e-magazines
  • SEO
  • marketing
  • advertising
  • trying to optimize everything
  • learning new technologies to apply
  • and so on

Like most bloggers, all this is done by me (had some help with the recent data switch for the premium spreadsheet though).

Yup. I overwork. I love to work on OSV, but it’s time to work smarter and to actually stop being a cheapo and pay people and services to take over some things.

Skill #2: Hoarding control

I hate to admit it but I like to know everything and know how to do everything. Jack of all trades, master of none. It’s gotten me this far and I get scared thinking about giving control for some projects and tasks. However, unless I learn at the early stages to let go of things that are not my strengths, I’ll never be able to.

Two totally bad skills I acquired which I’m trying to throw away.

What’s All This About?

I view 2013 as the make or break year. Can Old School Value take the next jump or is this it?

I won’t layout the whole roadmap here because it will just freak out some of you, but the first major changes over the weeks will start with a design overhaul.

  • Old School Value will get a new legit logo. No more hack jobs from clip art which everyone is using as icons and on finance apps.
  • Whole new site design. It’s not bad for an amateur job, but honestly, it sucks for a business I want to grow.

Just a heads up in case you come to the site later on and think you’ve landed at a wrong place.

Later on I’ll reveal more details.

Easiest to Write This on a Friday

In case you haven’t realized, I hid all this under the guise of a “Friday Reading” post.

Figured less people are reading on Friday and it’s the day of the week where I can share some more personal stuff and stories.

Also, don’t worry that I’m being too hard on myself. I’m very happy, enlightened and super excited writing this because I’m already imagining all the possibilities.

I highly welcome constructive criticism though.

In fact, I don’t mind any sort of criticism as I have learned to filter out and ignore the useless ones. When you write something and thousands of people read it, you learn to filter things out.

Thanks for reading!

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