David Nyeste

How a Reading Habit Benefits You If you think this advice is a no brainer, then think again. My kids will finish first grade shortly and have developed another super-power: reading. However being able to read in the sense that you can decipher a conventional code and being able -and willing- to consume knowledge on a regular basis are two different cups of tea. It's like poker: You'll learn the rules within minutes, but mastering the game will take a lifetime. My point here is to foster a firm and steady reading habit that will train your capability to consume knowledge and develop your personal unfair advantage in the form of wisdom. That does not mean that I am making a case for any kind of subject matter or type of books. You should just read, no matter what. I've read the Harry Potter novels three times - and I have not yet read them in German nor Hungarian. Also on my done list: tons of cartoons - DC Comics, Marvel Comics, Dragon Ball, Mangas, Asterix, Clever and Smart...

Winning is great, not losing is greater Professional traders on the stock exchange close multiple deals each day. When they close a deal they have certain expectations of how much risk and how much profit is implicated in the deal. One common way to limit the risk is to set a 'stop loss'. Let's assume a trader buys oil for 50$ a barrel and hopes to sell it later for 55$. He will sell  as soon as the price has reached 55$  and take the profit. At the same time he will hedge against failure and set a 'stop loss' limit, in case the price should dip below 48$. At this point he will sell for 48$ with a loss of 2$. This way he is able to exit the deal at a predefined point and avoid any further loss. Master Class MFR The minimum feasible requirement (MFR) works the same way. The point is to define absolute limits prior to negotiations which you will not break under any circumstances. I usually go with a set of three items: fixed annual salary, days of vacation, ability to...