Earlier today, I was listening in on a global conference call to kick off Asian Heritage month. For anonymity's sake, I won't mention the name of the keynote speaker (we will refer to her as Ms. Success), but I will tell you that she is a minority in the corporate world due to her gender and ethnicity. She lived most of her life in the Northwest region of the United States, in a time when people of her ethnicity were not welcome... but she persevered, and is now one of the most influential executives of a global company.
What struck me as interesting and made me even more engaged during her speech was her humility. The woman did not advertise her credentials, nor did she seem boastful or self-entitled. She went on to say share some of the finer points she learned during her uphill battle with prejudice and adversity:
Be Yourself. There is nothing more difficult than trying to be who you are not. It is important to remember where you came from, and what you've done to get to where you are now. Have no shame, and use any struggles and bad experiences as sources of strength... after all, you did eventually overcome them. Besides, smart people will always know if you're wearing a mask.
Persist. Ms. Success mentioned that at one point in her career, she interviewed for a high level job for which she knew she was more than qualified. Unfortunately, the hiring executive bluntly told her that she did not fit the image, since all of her contacts were old, school, boy's club types, and they would be uncomfortable interacting with a petite, female, minority figure. Well, she did not let this comment phase her and persisted in interviewing with numerous companies - some telling her the same thing. Eventually, she landed an even greater position at a more prestigious company. She learned that by persisting, a door of opportunity will eventually open.
Adapt. During numerous boardroom meetings, Ms. Success noticed a trend in the way the majority of executives interacted. Since 99% of them were All-American, alpha males, they usually broke the ice by talking football or golf. Now, Ms. Success is neither a football or golf fan... but she did realize the importance of interacting with her peers and not being left out and exposed as an outcast. So, before every meeting, along with reading the headlines in the Wall Street Journal, she would also flip to the Sports Section to catch up on the interests of her peers. While this may seem contradictory to the first point (Be Yourself), remember that much of success comes from relationship building. And, if you don't make an effort to adapt and try new things, you will block the natural growth of a relationship.
Don't lose sight of the other 25%. Ms. Success stated that as an individual, you are always judged by your performance and contributions at work... 75% of the time! But, what about the other 25%? The relationship building aspect? Well, if you forget about the other 25%, you will soon reach a plateau in your progression to the top. Thus, don't skip out on too many lunches with your peers or superiors, make every opportunity to chit-chat, share your experiences and stories. If you don't build relationships, you may end up alone in a mediocre position with nothing to look forward to but a pat on the back from time to time. Building relationships ensures that you will eventually have a network of people who will help propel you towards your goals in the future.
Stretch Beyond Your Comfort Zone. Let's be honest... everyone loves the feeling of being the best at what we're doing. But how long will you feel good, if what you're doing remains the same year after year? Colin Powell once said, “If it ain't broke, don't fix it' is the slogan of the complacent, the arrogant or the scared. It's an excuse for inaction, a call to non-arms.” It's usually the person who becomes complacent who no longer continues to grow in self-worth.
Give Back. Along your journey, you will have learned many valuable lessons and gone through many enlightening experiences. Why not share that knowledge with others? Be a mentor, confidante, teacher... None of us would have succeeded if not for the advice and teachings of those in the know. Pay it forward, because it will eventually catch up to you.
Balance! That is... find balance in your life. If you have a family, make sure you have quality time devoted to them. Enjoy your time with your spouse, parents, siblings and relatives. Spend time with good friends and make sure to laugh often. If you want to focus on yourself, make sure that you find ways to personally develop. Take some classes in something totally unrelated to work, travel, try new foods, meet new people. No one can keep sane with all work and no play... that's not what life is all about. Being happy in your personal life, will make success easier and more fun to accomplish!
Remember these 7 points... and take advantage of Ms. Success' knowledge and experience. I know I will!
Showing posts with label Wall Street. Show all posts
Showing posts with label Wall Street. Show all posts
May 5, 2009
Jan 28, 2009
When it Snows, Everyone Slows... down in traffic.
Today, I had a very slushy, slippery, commute into New York City. It seems that almost every time it snows, no one is prepared in my town... what's up with that? The streets weren't fully plowed, commuters still didn't leave earlier, and it seemed like we were hit with a blizzard, when in fact we only got 2 to 4 inches of snow/slush.
Well, it took awhile for me to get to my town's bus terminal. Usually it takes about 10 to 15 minutes from my house; but today it took about an hour. Everyone was at a slow crawl of about 25 miles per hour on the roads... which in a way is nice for a change.
I just tuned the radio station to "Lite FM", and inched along in my car, almost falling asleep at some intervals. Not a good thing.
Anyway, here's a view from my office showcasing the wet, dripping, nastiness outside.
I'm glad that I'm finally dry, but wish I would have worked from home. Kudos to all the smarter people who did work from home!
Well, it took awhile for me to get to my town's bus terminal. Usually it takes about 10 to 15 minutes from my house; but today it took about an hour. Everyone was at a slow crawl of about 25 miles per hour on the roads... which in a way is nice for a change.
I just tuned the radio station to "Lite FM", and inched along in my car, almost falling asleep at some intervals. Not a good thing.
Anyway, here's a view from my office showcasing the wet, dripping, nastiness outside.
I'm glad that I'm finally dry, but wish I would have worked from home. Kudos to all the smarter people who did work from home!
Oct 21, 2008
Rants & Raves: Andrew Lahde bids farewell to the System!
It’s not new news that the financial market sucks. Everyone’s been affected in some way by now; whether you’re worrying about your own job, your credit, your mortgage payments, gas prices, or unnecessary expenses (e.g. dining out, entertainment, luxury vacations, etc.). Sympathies also go out to the graduating classes that now find it difficult to obtain a good paying job. Wall Street and every other financial corner of the United States are “re-assessing” the value of fancy MBA education – therefore leaving those with educational debt in the red.
But, just because the market sucks, it doesn’t mean that it can’t be entertaining. Nowadays, former bankers, analysts, and hedge funders are lashing out at the big, bad, world… claiming that they are the victims of capitalism and long hours, chained to a computer. Yet, with some of the wealth they have accumulated… should we feel sorry for them? Should anyone (who is not an i-banker, analyst, or financial monkey) who has a dream of making it big in any metropolitan area, feel sorry for these shmucks who dare voice out in an attempt to exemplify an ounce of integrity? Here is one of the most recent communications by Andrew Lahde, a successful, Santa Monica hedge fund manager, who now despises the very system that allowed him to retire comfortably. You decide… should we empathize with this guy? Do you think his statement, while insightful… is genuine?
The Andrew Lahde Farewell Letter:
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.
Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, "What I have learned about the hedge fund business is that I hate it." I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.
There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.
I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.
So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don't worry about my employees, they were always employed by Mr. Springer's company and only one (who has been well-rewarded) will lose his job.
I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life -- where I had to compete for spaces in universities and graduate schools, jobs and assets under management -- with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.
On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man's interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft's near monopoly. I believe there is an answer, but for now the system is clearly broken.
Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. You won't see it included in BP's, "Feel good. We are working on sustainable solutions," television commercials, nor is it mentioned in ADM's similar commercials. But hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won. At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country? Ah, the female. The evil female plant -- marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country. My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources. Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western). You would not know this by paying attention to U.S. media sources though, as they tend not to elaborate on who is laughing at the United States this week. Please people, let's stop the rhetoric and start thinking about how we can truly become self-sufficient.
With that I say good-bye and good luck.
All the best,
Andrew Lahde
So in conclusion, Andrew thinks the solution to achieving utopia is pot? Mind you... this is my assumption, but it is funny how he ends his letter on this note.
But, just because the market sucks, it doesn’t mean that it can’t be entertaining. Nowadays, former bankers, analysts, and hedge funders are lashing out at the big, bad, world… claiming that they are the victims of capitalism and long hours, chained to a computer. Yet, with some of the wealth they have accumulated… should we feel sorry for them? Should anyone (who is not an i-banker, analyst, or financial monkey) who has a dream of making it big in any metropolitan area, feel sorry for these shmucks who dare voice out in an attempt to exemplify an ounce of integrity? Here is one of the most recent communications by Andrew Lahde, a successful, Santa Monica hedge fund manager, who now despises the very system that allowed him to retire comfortably. You decide… should we empathize with this guy? Do you think his statement, while insightful… is genuine?
The Andrew Lahde Farewell Letter:
Today I write not to gloat. Given the pain that nearly everyone is experiencing, that would be entirely inappropriate. Nor am I writing to make further predictions, as most of my forecasts in previous letters have unfolded or are in the process of unfolding. Instead, I am writing to say goodbye.
Recently, on the front page of Section C of the Wall Street Journal, a hedge fund manager who was also closing up shop (a $300 million fund), was quoted as saying, "What I have learned about the hedge fund business is that I hate it." I could not agree more with that statement. I was in this game for the money. The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government. All of this behavior supporting the Aristocracy, only ended up making it easier for me to find people stupid enough to take the other side of my trades. God bless America.
There are far too many people for me to sincerely thank for my success. However, I do not want to sound like a Hollywood actor accepting an award. The money was reward enough. Furthermore, the endless list those deserving thanks know who they are.
I will no longer manage money for other people or institutions. I have enough of my own wealth to manage. Some people, who think they have arrived at a reasonable estimate of my net worth, might be surprised that I would call it quits with such a small war chest. That is fine; I am content with my rewards. Moreover, I will let others try to amass nine, ten or eleven figure net worths. Meanwhile, their lives suck. Appointments back to back, booked solid for the next three months, they look forward to their two week vacation in January during which they will likely be glued to their Blackberries or other such devices. What is the point? They will all be forgotten in fifty years anyway. Steve Balmer, Steven Cohen, and Larry Ellison will all be forgotten. I do not understand the legacy thing. Nearly everyone will be forgotten. Give up on leaving your mark. Throw the Blackberry away and enjoy life.
So this is it. With all due respect, I am dropping out. Please do not expect any type of reply to emails or voicemails within normal time frames or at all. Andy Springer and his company will be handling the dissolution of the fund. And don't worry about my employees, they were always employed by Mr. Springer's company and only one (who has been well-rewarded) will lose his job.
I have no interest in any deals in which anyone would like me to participate. I truly do not have a strong opinion about any market right now, other than to say that things will continue to get worse for some time, probably years. I am content sitting on the sidelines and waiting. After all, sitting and waiting is how we made money from the subprime debacle. I now have time to repair my health, which was destroyed by the stress I layered onto myself over the past two years, as well as my entire life -- where I had to compete for spaces in universities and graduate schools, jobs and assets under management -- with those who had all the advantages (rich parents) that I did not. May meritocracy be part of a new form of government, which needs to be established.
On the issue of the U.S. Government, I would like to make a modest proposal. First, I point out the obvious flaws, whereby legislation was repeatedly brought forth to Congress over the past eight years, which would have reigned in the predatory lending practices of now mostly defunct institutions. These institutions regularly filled the coffers of both parties in return for voting down all of this legislation designed to protect the common citizen. This is an outrage, yet no one seems to know or care about it. Since Thomas Jefferson and Adam Smith passed, I would argue that there has been a dearth of worthy philosophers in this country, at least ones focused on improving government. Capitalism worked for two hundred years, but times change, and systems become corrupt. George Soros, a man of staggering wealth, has stated that he would like to be remembered as a philosopher. My suggestion is that this great man start and sponsor a forum for great minds to come together to create a new system of government that truly represents the common man's interest, while at the same time creating rewards great enough to attract the best and brightest minds to serve in government roles without having to rely on corruption to further their interests or lifestyles. This forum could be similar to the one used to create the operating system, Linux, which competes with Microsoft's near monopoly. I believe there is an answer, but for now the system is clearly broken.
Lastly, while I still have an audience, I would like to bring attention to an alternative food and energy source. You won't see it included in BP's, "Feel good. We are working on sustainable solutions," television commercials, nor is it mentioned in ADM's similar commercials. But hemp has been used for at least 5,000 years for cloth and food, as well as just about everything that is produced from petroleum products. Hemp is not marijuana and vice versa. Hemp is the male plant and it grows like a weed, hence the slang term. The original American flag was made of hemp fiber and our Constitution was printed on paper made of hemp. It was used as recently as World War II by the U.S. Government, and then promptly made illegal after the war was won. At a time when rhetoric is flying about becoming more self-sufficient in terms of energy, why is it illegal to grow this plant in this country? Ah, the female. The evil female plant -- marijuana. It gets you high, it makes you laugh, it does not produce a hangover. Unlike alcohol, it does not result in bar fights or wife beating. So, why is this innocuous plant illegal? Is it a gateway drug? No, that would be alcohol, which is so heavily advertised in this country. My only conclusion as to why it is illegal, is that Corporate America, which owns Congress, would rather sell you Paxil, Zoloft, Xanax and other additive drugs, than allow you to grow a plant in your home without some of the profits going into their coffers. This policy is ludicrous. It has surely contributed to our dependency on foreign energy sources. Our policies have other countries literally laughing at our stupidity, most notably Canada, as well as several European nations (both Eastern and Western). You would not know this by paying attention to U.S. media sources though, as they tend not to elaborate on who is laughing at the United States this week. Please people, let's stop the rhetoric and start thinking about how we can truly become self-sufficient.
With that I say good-bye and good luck.
All the best,
Andrew Lahde
So in conclusion, Andrew thinks the solution to achieving utopia is pot? Mind you... this is my assumption, but it is funny how he ends his letter on this note.
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