Five-Bullet Monday - October 18, 2021
Updated: Jan 5, 2022
Here is another Five-Bullet Monday
Two quotes I am pondering:
“Emotional intelligence is when you finally realize it’s not all about you.” - Peter Stark
“The emotionally intelligent person is skilled in four areas: identifying emotions, using emotions, understanding emotions, and regulating emotions.” - John Mayer And Peter Salovey.
I read somewhere that CEOs initially get hired for their high IQ and then get fired for their lack of EQ. High IQ and high EQ together in a business setting are a powerful combination. Likewise, tuning into how others are feeling in the moment can make a world of difference in connecting and making meaningful progress on essential or challenging issues.
A question I am asking myself:
Have I truly learnt and applied the lessons from my failures?
We always hear that we need to learn from our mistakes, and I often find myself repeating the same or similar mistakes made in the past. So, I need to rehearse my previous failures, mainly my big two: 1) rushing and 2) assuming something is the case when it isn’t. What are your big two or three ______? Perhaps a daily or weekly reminder somewhere will keep the lessons fresh in your memory.
A book I am reading:
Peak: Secrets from the New Science of Expertise - Anders Ericsson and Robert Pool
I loved this book, with its research and findings. Essentially, it says that natural-born talent is far rarer than people make it out to be. And that you can make incredible progression in everything from sport to music to academics by deliberate and focused practice. The key is a deliberately challenging practice, not just doing the same activity again and again. It gave me hope in some of my major development areas, knowing that I can get there if I practice intelligently and hard enough.
My favourite podcast this week:
What is Money: WiM001 – the Rise of Man with Michael Saylor
In my book, Martin Saylor and Robert Breedlove can explain money (fiat currency) and Bitcoin, like few else on the planet. The podcast is two hours long, and it is nearly a year old now. Still, the brilliance of what they were both saying would have me listening to it all over again. If the topic of how money has evolved and is evolving and the part Bitcoin has to play is of interest to you, I highly recommend you listening to it.
Make sure you are not overpaying management fees on your investments
Management fees, particularly those within Mutual Funds, can be very high (greater than 2.0% in some cases), which can seriously erode your investments over time. When I say erode, listen to this. A Mutual Fund costing you 2.0% compared with, say, an ETF costing you 0.5% will, assuming similar performance, result in a 40% reduction in your retirement savings over your working life. Mutual Funds will argue they provide superior performance, but it has been proven that less than 5% of these funds outperform the market once fees are considered. And when you check the fees, make sure to get the total fees because, in many instances, there are multiple different charges hidden in hard-to-find places.
My highlight this last week
Moving into my new home
Since the end of April, I have been in transitory accommodation mode. So, when I finally moved into my place last weekend and slept in my bed for the first time in six months, my feelings were of both gratitude and pleasure. Now, to get through those remaining boxes of stuff, I don’t need ……….
My challenge to you for this week
Take charge of the weather
For those that live in Vancouver, you will agree that last week’s weather has been miserable. It has pretty much rained every hour during all this time. Fall is the most challenging time mentally and emotionally as the weather gets colder and darkness encroaches. To counter that, have a listen to the Crowded House Song “Take the weather with you” because I reckon that’s the way to tackle Fall weather blues. Yes, the outside weather may be lousy, but I will make sure that my internal weather report is bright and sunny, and with that attitude, the Fall and Winter should be a breeze.
I hope you have a great week