Terminology : Economic rent

Economic rent is the payment for goods and services beyond an amount needed to bring the required factors of productions into a production process and sustain supply.

This is what causes people who does a clerk job earn a speck of the gargantuan fees paid to actors like Charlie Sheen (1.25 million per episode of Two and a Half Men before he got fired).

So we should strive to get that economic rent shouldn't we?

Mindset : Passion

If you really want to succeed, take some time off and think about this for a moment - what is it you would do without the need for money when doing it.

When you have the answer, go follow it for you will never wake up dreading it and be very successful. Sometimes it makes it a more meaningful life as your  ideas might be ahead of time and you just won't make money out of it in this era. However, you must remember that you will save on medical expenses and other miscellaneous expense related to doing a dreaded job.

Australian apparel brands and the international market

It seems that the Australian apparel brands are slowly dying off due to competition from the international market. Well, it makes perfect economical sense as the international brands has much more to offer. From the economies of scale to the best quality inputs used to produce the goods.

The Australian apparel brands still do not price themselves more competitively and expect to stay in business. Looks like much needs to be changed in order for the Australian brands to survive.

Mindset : Risk and attitude to life

There has been a study that shows that people who fair well with risk are, not surprisingly, those who have a competitive, winning attitude. Those who likes to win, does not like to lose money as well, hence they pay close attention to situation to scenarios where there is a high probability of losing.

This paired with the ability to rebound from failures will definitely bring financial success. I believe it also bring success in other parts of life.

Buffettology : Europe uncertain

The Sage of Omaha has voiced his concern about Europe's short term economy. He does not have the confidence that Europe has to ability to resolve their crisis at the moment. However, he believe Europe is "not going away" and would be stronger in 10 years.

This shows that another great analyst has given a gloomy perspective on Europe for now. Another recession in the first quarter of next year is probable. 

Secret for success : Don Don

There is a chain of Don Don shops in the city, which are very successful. It focuses on japanese food and gives good value for what you pay.

In my opinion, I believe they are successful because of the following points:

1) Entrepreneurs who knows where to source the best products at good prices

2) Passing on the good price to the consumers while still making some profit

3) Timely delivery of the food (it takes them less than 1 minute to get the food out to consumers)

4) Strategically placed in places that could bring high traffic

If anyone would like to emulate their success, follow the points above and do your own research and take the big move to get into it.

Market has bottomed?

Sandler O'Neill's Harte says that the market has bottomed. It truly shows how much of a marketer he is. Firstly, the DJI being in the 12,000s mark makes it being near historical highs. Secondly with so much uncertainty with the world economy, it is hard to even predict the markets reaction.

However, for a marketer like him to succeed, he needs to sell his ideas and sell it fast. I would only take to his word when his specific investment has risen more than 10% during the next quarter and stay that way for another quarter, that way he is not selling and covering with other people's money, making money for himself.