... Mind The Law of Perception The Law of Focus The Law of Exclusivity The Law ofthe Ladder The Law of Duality The Law ofthe Opposite 10 The Law of Division 11 The Law of Perspective 12 The Law of ... Extension 13 The Law of Sacrifice 14 The Law of Attributes file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html 15 The Law of Candor 16 The Law of Singularity 17 The Law of Unpredictability ... file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html (46 of 77)4/20/2006 1:41:49 AM file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html The law of sacrifice is the opposite ofthe law of line...
... Mind The Law of Perception The Law of Focus The Law of Exclusivity The Law ofthe Ladder The Law of Duality The Law ofthe Opposite 10 The Law of Division 11 The Law of Perspective 12 The Law of ... Extension 13 The Law of Sacrifice 14 The Law of Attributes file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html 15 The Law of Candor 16 The Law of Singularity 17 The Law of Unpredictability ... file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html (46 of 77)4/20/2006 1:41:49 AM file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html The law of sacrifice is the opposite ofthe law of line...
... organization, many of these laws run counter to prevailing corporate dogma If you violate theimmutablelaws you run the risk of failure If you apply thelaws you run the risk of being criticized, ... appearances The Law of Resources Without adequate funding, an idea won't get off the ground Getting into, staying in and winning the battle ofthe mind takes money First get the idea, then get the money ... and follow trends rather than fads, and build an enormous amount of flexibility into your organization to cope with the inherent unpredictability ofthe marketplace TheLawsof Success, Failure,...
... organization, many of these laws run counter to prevailing corporate dogma If you violate theimmutablelaws you run the risk of failure If you apply thelaws you run the risk of being criticized, ... appearances The Law of Resources Without adequate funding, an idea won't get off the ground Getting into, staying in and winning the battle ofthe mind takes money First get the idea, then get the money ... and follow trends rather than fads, and build an enormous amount of flexibility into your organization to cope with the inherent unpredictability ofthe marketplace TheLawsof Success, Failure,...
... Page Thelaws work because they provide shortcuts to making the countless decisions people face every day as they look for information to reduce the complexity of life If you can apply these laws ... benefit, then your influence over others increases significantly Some ofthe best masters ofthe art of persuasion in negotiation are highly successful salespeople who their best not only to make the ... tactics that use the preceding Lawsof Persuasion So how you successfully negotiate around these ploys? First, you can discuss the rules ofthe game When you recognize that the other side is using...
... Page Thelaws work because they provide shortcuts to making the countless decisions people face every day as they look for information to reduce the complexity of life If you can apply these laws ... benefit, then your influence over others increases significantly Some ofthe best masters ofthe art of persuasion in negotiation are highly successful salespeople who their best not only to make the ... tactics that use the preceding Lawsof Persuasion So how you successfully negotiate around these ploys? First, you can discuss the rules ofthe game When you recognize that the other side is using...
... grant from The Pew Charitable Trusts The opinions expressed in this report are those of CED and not necessarily reflect the views ofThe Pew Charitable Trusts The Economic Promise ofInvesting ... rapid growth in the size ofthe labor force In the coming years, labor force growth will slow sharply as the baby boom generation retires Furthermore, improving the quality ofthe labor force ... status Well-off families know the value of high-quality preschool programs, and 70 percent of high-income families send their children to preschool (see Figure 2) At the other end ofthe income...
... Mind The Law of Perception The Law of Focus The Law of Exclusivity The Law ofthe Ladder The Law of Duality The Law ofthe Opposite 10 The Law of Division 11 The Law of Perspective 12 The Law of ... Extension 13 The Law of Sacrifice 14 The Law of Attributes file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html 15 The Law of Candor 16 The Law of Singularity 17 The Law of Unpredictability ... file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html (46 of 77)4/20/2006 1:41:49 AM file:///F|/Business/Marketing/22 ImmutableLawsOf Marketing.html The law of sacrifice is the opposite ofthe law of line...
... A History of Interest Rates.) The tradeoff between the variability of bill payouts and the interestrate risk of consols reverses during the twentieth century With the abandonment ofthe gold standard ... probability (the bell-shaped curve) predicted by thelawsof statistics As you can see, the agreement is quite good 26 The Four Pillars ofInvesting Long-term risk the probability of running out of money ... to the non-academic reader, as they subtract out the return due to inflation, and further not include dividends.) Now look on the left-hand portion ofthe graph These are the markets with the...
... DR The total present value ofthe mine—in effect, its “true value”—is the sum of all ofthe future dividends, discounted to the present This is the sum at the bottom ofthe table: $8,225 The ... rate of inflation: The higher the rate of inflation, the less value in terms of real spending power you can expect to receive in the future 46 The Four Pillars ofInvesting • The “impatience” of ... stocks is the equivalent of wearing a Nehru jacket over a pair of bell-bottom trousers 38 The Four Pillars ofInvestingThe data on the performance of value and growth stocks run counter to the way...
... that the 2% expense doesn’t matter that much But because ofthe 2% drag, instead of 50% ofthe chimps beating the market each year, only about 40% of them With the passage of time, however, the ... subtracted The thick vertical black line in the middle ofthe graph represents the market performance The bars on the left represent the number of funds underperforming the market, and the bars on the ... what the condition ofthe economy or their employment On the other hand, the earnings and dividends of auto manufacturers are notoriously sensitive to economic conditions Because the purchase of...
... Obviously, the magnitude of impact costs depends on the size ofthe fund, the size ofthe company, and the total amount transacted As a first approximation, assume that it is equal to the spread The ... miles of seabed But when their estimates were averaged together, its position was pinpointed to within 220 yards In other words, the market’s estimate ofthe proper price of a stock, or ofthe ... PIMCO, or Goldman Sachs It’s like a game of tennis in which the players on the other side ofthe net are invisible The bad news is that most ofthe time, it’s the Williams sisters It never ceases...
... is then funneled into a long pipe From the perspective ofthe person at the pump handle the innovator and the wealthy firstadopter the water is clearly coming in spurts But to the person at the ... at the 132 The Four Pillars ofInvesting end ofthe pipe the average consumer, and, more importantly, the investor the water is flowing evenly To illustrate the point, I’ve plotted the real gross ... consisted of a cluster of coffeehouses in the neighborhood of Change Alley By the late seventeenth century, these coffeehouses became the most active and advanced exchanges in the world The average “stock...
... On the other hand, the societal benefit ofthe railroads was immeasurable, allowing the settling and growth ofthe breadth ofthe continent The financial rewards from the railroads went to the ... demonstration ofthe basic rule of technology investing: it is the users, and not the makers, who profit most Queen Victoria and Her Subjects Get Taken for a Ride The reason why the invention ofthe marine ... drop of 90%? Of course, there were plenty of individual stocks that were ridiculously overpriced, some the result of rampant speculation and others of outright fraud But the history ofthe 1920s...
... think that you’re smarter and faster than all of them? On top of that, there are tens of thousands of professional investors using the kind of software, hardware, data, technical support, and ... long-term returns for the simple reason that we are not aware of just how bad they are 178 The Four Pillars ofInvestingThe Country Club Syndrome This is the peculiar affliction ofthe very wealthy ... are intriguing The more complex the task, the more inappropriately overconfident we are 168 The Four Pillars ofInvesting “Calibration” of one’s efforts is also a factor The longer the “feedback...
... for the tech collapse of 2000 The story of Select Technology is emblematic ofthe nature of fund flows First, they are most often contrary indicators—funds in high-performing sectors ofthe market ... dependent on the good will ofthe company If analysts are too critical ofthe companies they are covering, that vital information the lifeblood of their craft—could dry up in a heartbeat So the recommendations ... Seen from the inside, the brokerages appear 198 The Four Pillars ofInvesting geared almost entirely to excessive trading and the resultant fees and spreads The most shocking aspect ofthe brokerage...
... knew the ins and outs ofthe fund playbook the Investment Company Act of 1940—as well as Jack Bogle Among other things, the Act mandated that the fund directorship be separate from that ofthe ... and the like On the other hand, the folks at the top ofthe greasy pole the regular columnists for the major national periodicals—are usually wellinformed and smart enough to understand the futility ... make the choice, I would trade all ofthe financial research done in the last decade for the contents of Fisher’s The Theory of Interest, which was written more than 70 years ago and formed the...