HI Financial Services Commentary 01-09-2018
You Tube Link: https://youtu.be/QCeDUfJrZyM
What I want to talk about today?
Goals I place where I can see them daily – Reminder of commitments
Look back to last year – Financial, Spiritual, Physical. Mental. Family,
Set those goals and have them avaibale to see on a daily basis
What happening this week and why?
Home builders and the start of the financial bank reports
Where will our markets end this week?
DJIA – Bullish we entered the over bought mark RSI
SPX – Bullish overbought on the RSI
COMP – Bullish and Just entered the overbought
Where Will the SPX end January 2018?
What is on tap for the rest of the week?=
Wed: LEN, KGH, RMAX
Fri: JPM, WFC
Wed: MBA, Jolts, Import, Export, Wholesale Inv.,
Thur: Initial, Continuing Claims, PPI, Core PPI, Treasury Budget
Fri: CPI, Core CPI, Retail Sales, Retails ex-tran, Business Inv
www.myhurleyinvestment.com = Blogsite
How am I looking to trade?
AAPL – 02/01 AMC
AOBC – 03/01
BAC – 01/17 BMO
BIDU – 2/22
C – 01/16 BMO
DHI – 01/31 BMO
DIS – 02/06 AMC
F – 01/24
FB – 01/31 AMC
FCX – 01/25 BMO
MO – 01/31
V – 02/01 AMC
ZION – 1/22 AMC
13 Things You Should Give Up If You Want To Be Successful
”Somebody once told me the definition of hell:
“On your last day on earth, the person you became will meet the person you could have become.” — Anonymous
Sometimes, to become successful and get closer to the person you can become, you don’t need to add more things — you need to give some of them up.
There are certain things that are universal, which will make you successful if you give up on them, even though each one of us could have a different definition of success.
You can give up on some of them as soon as today, while it might take a bit longer to give up on others.
- Give Up On The Unhealthy Lifestyle
“Take care of your body. It’s the only place you have to live.” — Jim Rohn
If you want to achieve anything in life, everything starts here. First, you should take care of your health, and there are only three things you need to keep in mind:
- Quality Sleep
- Healthy Diet
- Physical Activity
Small steps, but you will thank yourself one day.
- Give Up The Short-term Mindset
“You only live once, but if you do it right, once is enough.” — Mae West
Successful people set long-term goals, and they know these aims are merely the result of short-term habits that they need to do every day.
These healthy habits shouldn’t be something you do; they should be something you embody.
There is a difference between: “Working out to get a summer body” and “Working out because that’s who you are.”
- Give Up On Playing Small
“Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people will not feel insecure around you. We are all meant to shine, as children do. It is not just in some of us; it is in everyone, and as we let our light shine, we unconsciously give others permission to do the same. As we are liberated from our fear, our presence automatically liberates others.”
— Marianne Williamson
If you never try and take great opportunities or allow your dreams to become realities, you will never unleash your true potential.
And the world will never benefit from what you could have achieved.
So voice your ideas, don’t be afraid to fail, and certainly don’t be afraid to succeed.
- Give Up Your Excuses
“It’s not about the cards you’re dealt, but how you play the hand.”
― Randy Pausch, The Last Lecture
Successful people know that they are responsible for their life, no matter their starting point, weaknesses, and past failures.
Realising that you are responsible for what happens next in your life is both frightening and exciting.
And when you do, that becomes the only way you can become successful, because excuses limit and prevent us from growing personally and professionally.
Own your life; no one else will.
- Give Up The Fixed Mindset
“The future belongs to those who learn more skills and combine them in creative ways.” ― Robert Greene, Mastery
People with a fixed mindset think their intelligence or talents are pre-determined traits that cannot be changed. They also believe that talent alone leads to success — without hard work. But they’re wrong.
Successful people know this. They invest an immense amount of time on a daily basis to develop a growth mindset, acquire new knowledge, learn new skills and change their perception so that it can benefit their lives.
Who you are today is not who you have to be tomorrow.
- Give Up Believing In The “Magic Bullet.”
“Every day, in every way, I’m getting better and better” — Émile Coué
Overnight success is a myth.
Successful people know that making small continuous improvement every day will be compounded over time and give them desired results.
That is why you should plan for the future, but focus on the day that’s ahead of you, and improve just 1% every day.
- Give Up Your Perfectionism
“Shipping beats perfection.” — Khan Academy’s Development Mantra
Nothing will ever be perfect, no matter how much you try.
Fear of failure (or even fear of success) often prevents you from taking action and putting your creation out there in the world. But a lot of opportunities will be lost if you wait for things to be right.
So “ship,” and then improve (that 1%).
- Give Up Multi-tasking
“Most of the time multitasking is an illusion. You think you are multitasking, but in reality, you are actually wasting time switching from one task to another “
— Bosco Tjan
Successful people know this.
That’s why they choose one thing and then beat it into submission. No matter what it is — a business idea, a conversation, or a workout.
Being fully present and committed to one task is indispensable.
- Give Up Your Need to Control Everything
“Some things are up to us, and some things are not up to us.” — Epictetus
Differentiating these two is crucial.
Detach from the things you cannot control, focus on the ones you can, and know that sometimes, the only thing you will be able to control is your attitude towards something.
Remember: nobody can be frustrated while saying “Bubbles” in an angry voice.
- Give Up On Saying YES To Things That Don’t Support Your Goals
“He who would accomplish little must sacrifice little; he who would achieve much must sacrifice much; he who would attain highly must sacrifice greatly.”
— James Allen
Successful people know that in order to accomplish their goals, they will have to say NO to certain tasks, activities, and demands from their friends, family, and colleagues.
In the short-term, you might sacrifice a bit of instant gratification, but when your goals come to fruition, it will all be worth it.
- Give Up The Toxic People
“Stay away from negative people. They have a problem for every solution.”
— Albert Einstein
People you spend the most time with add up to who you become.
If you spend time with those who refuse to take responsibility for their life, always find excuses and blame others for the situation they are in, your average will go down, and with it your opportunity to succeed.
However, if you spend time with people who are trying to increase their standard of living, and grow personally and professionally, your average will go up, and you will become more successful.
Take a look at around you, and see if you need to make any changes.
- Give Up Your Need To Be Liked
“You can be the juiciest, ripest peach in the world, and there’s still going to be people who hate peaches.” — Dita Von Teese
Think of yourself as a market niche.
There will be a lot of people who like that niche, and there will be individuals who don’t. And no matter what you do, you won’t be able to make the entire market like you.
This is completely natural, and there’s no need to justify yourself.
The only thing you can do is to remain authentic, improve and provide value every day, and know that the growing number of “haters” means that you are doing remarkable things.
- Give Up Wasting Time
“The trouble is, you think you have time” — Jack Kornfield
You only have this one crazy and precious life. That’s why you owe it to yourself to see who you can become, and how far you can go.
However, to do that, you need to ditch meaningless time wasters and stop allowing them to be an escape from your most important goals.
To do that, you should learn how to take control over your focus, attention and make the most out of your 24 hours within a day.
Remember that you will die, so never stop creating your legacy and doing the things that will enrich your life.
How To Go From Successful To Very Successful (and why most people can’t do it)
Many people want success more than anything else. And they’ll sacrifice everything to have it — which is often the cost of admission.
But there’s a problem. Sustaining success, and going beyond success is nearly impossible for most people. Hence Greg McKeown, author of Essentialism,questions, “Why don’t successful people and organizations automatically become very successful?”
McKeown’s answer is succinct: Success is a catalyst for failure.
Being invisible is easy. When you make mistakes, you’re the only one who notices. Even being the underdog is easy. If you fail, you’re justified in doing so.
But when the spotlight is on you, everyone is waiting for you to fail. The external pressure often becomes too overpowering, smothering the values and vision it took to become successful in the first place.
Which is why success is often a short-lived experience. People come and go. Very few remain on top for long. For example, only eight NFL teams have won the Super Bowl back-to-back. As 49ers coach, Bill Walsh has said, “The toughest thing I ever had to do was get my team to overcome success disease. ”Winning a first Super Bowl, according to Walsh, is enormously easier than winning a second or third.
This is true in all life domains. If you succeed in business, life doesn’t get easier. It gets harder.
Success Is Much Harder To Deal With Than Failure
“Nearly all men can stand adversity, but if you want to test a man’s character, give him power.” — Abraham Lincoln
For most people, privilege is a poison.
Once you succeed, or have certain privileges (e.g., time, money, fame, accolades), one of two things happens:
- Your focus shifts from the cause of your success to its effects. Rather than continuing to hone your craft, you indulge in the benefits of your prior success, which inevitably damages future performance. Hence the saying,“Success skips a generation.” The children of the successful don’t learn the causes, but only relish in the benefits.
- Or, you experience an intensification of internal pressure to keep succeeding. Many people can’t handle this level of pressure and it often ends careers prematurely. Yet, this escalation of internal pressure is what prevents a person from being consumed by external noise (i.e., distraction) that come with success. As Robert Horry, former NBA player has said, “Pressure can burst a pipe, or pressure can make a diamond.”
Internal, not external, pressure is what makes you successful. Increasing the pressure is what keeps you going.
Success Vs. Achievement
The difference between success and achievement is subtle but crucial. Success is a subjective feeling about how you’re doing relative to why you’re doing it.Achievement is an objective measure about what you’ve actually done.
Yet, success is far more important than achievement. Indeed, you could have all the achievements in the world and not be successful.
You see this all the time, people who have many external indicators of success, yet inwardly, they are a wreck. They’ve lost their why, and thus, no longer remember the reason they are pursuing their goals in the first place.
What once was a genuine passion has now become a need for more external validation. An endless need to acquire and achieve more. Thus, rather than focusing on why, the focus becomes on what will work, and doing as much of that as possible, most likely at the expense of your values.
According to Seth Godin, “Art is when a human being does something that might not work…” When you’re focused on what, you only care if it works, you no longer know why you’re doing it.
Interestingly, many successful entrepreneurs admit to being happier before they were “successful,” back when their motivations were congruent with their values. Achievement poisoned them, and their motivation changed.
When your motivation shifts from intrinsic to extrinsic, your performance naturally drops over the long-run. You may be able to sustain high performance for a while, often at great cost to your health, relationships, and finances.
From Successful To Very Successful
“Success is something you attract by the person you become.” — Jim Rohn
If “success” is your primary objective, you probably won’t get it. Chasing success is like chasing happiness. You can’t pursue it directly. Both success and happiness ensue from something far more fundamental. As Viktor Frankl explained:
For success, like happiness, cannot be pursued; it must ensue, and it only does so as the unintended side effect of one’s personal dedication to a cause greater than oneself or as the by-product of one’s surrender to a person other than oneself.
Success comes from consistency to your vision and values. Although difficult because of the added noise that comes from achievement, becoming “very” successful requires remaining consistent to your vision and values. It’s so easy to become self-absorbed. Remaining ever humble and fully vested in other people and in a cause you’d give up everything for. That’s rare.
When you stay consistent and true, you’ll continue to hone yourself and your craft, even after you become world-class.
You’ll say “no” to all of the distractions that come your way, no matter how enticing they are.
You won’t let your ego inflate and forget who you really are. You won’t abandon your values and the most important people in your life.
Don’t forget your “why.” That may be the hardest thing you do as you seek to improve your life. As Ryan Holiday recently said of Tim Ferriss, “He does what he does because he enjoys it, and he’s compelled to create, experiment and improve because that’s who he is. Tim is still Tim. Most people are made worse by success, and that’s a shame. It has suited Tim well and that’s a model I aspire to.”
SEC busts alleged $1.2 billion Ponzi scheme. How not to be a future victim
- Take precautions before investing with a new financial professional.
- Certain signs, such as promises that are too good to be true or statements that don’t match your investments, could be red flags.
Published 1:22 PM ET Thu, 21 Dec 2017 Updated 12:08 PM ET Tue, 26 Dec 2017CNBC.com
The Securities and Exchange Commission on Thursday announced charges against a group of unregistered funds and their owner, for allegedly fleecing retail investors through a $1.2 billion Ponzi scheme. The victims include more than 8,400 individuals, many of whom are elderly.
In a Ponzi scheme, the perpetrator generally takes money from one set of investors to pay off others, often earlier investors or simply diverts the proceeds for private gain.
Fraud complaints have increased by 60 percent in the last five years, according to the Federal Trade Commission.
“The frightening truth about fraud is scammers scam and liars lie,” said Gerri Walsh, senior vice president of investor education at the Financial Industry Regulatory Authority, or FINRA, which regulates brokerage firms.
To lessen the chances of becoming a victim, there are precautions investors should take, according to the regulators whose job it is to catch these scams.
Do a background check
Before you begin working with financial professionals, check their registration records to verify that they are, in fact, licensed, and have not had any egregious complaints lodged against them.
If the financial professional does not show up in a search, you should think twice about working with him or her, said Lori Schock, director of the SEC‘s Office of Investor Education and Advocacy.
“If someone offers you a guaranteed high rate of return, they’re lying. You’re probably looking at a fraud.”-Owen Donley, Securities and Exchange Commission
“Most of the retail-facing fraud that we see is committed by those who are not registered,” Schock said. “It is unlicensed people selling unregistered products.”
You should also look at records periodically to check up on a financial professional.
“If you have been working with the person for a while … go ahead and take a peek and see what you see,” FINRA’s Walsh said.
Not all disclosures that show up on a professional’s or firm’s record are a red flag, said Walsh. But they should be a conversation starter.
Know what you’re investing in
You should be wary of investments that are overly complicated.
“If a retail investor can’t understand the investment, they ought not pursue that opportunity,” said Owen Donley, chief counsel at the Office of Investor Education and Advocacy at the SEC.
All the information about the investment, such as through filings made with the SEC, should be readily available. If a financial professional won’t make investment paperwork available, that’s a “huge red flag,” Donley said.
Find out how they get paid
Be sure to ask a number of questions, including “How do I pay you?” and “How do you get paid?” Walsh said.
The answers could include commissions or fees, but there might be some other method for payment, such as a sales contest or a proprietary product particular to that firm.
Use that information to assess whether the firm is a fit for your risk and liquidity needs, Walsh said.
Check your statements
Monthly statements should show any transactions you made, including the amount.
“Especially in down markets, it can be depressing to look at your statements,” Walsh said. “But you have to do it. You have to keep tabs.”
If you see something you did not authorize, you should call your broker and send a written complaint to the firm. You should also notify the appropriate securities regulator.
Investors should also do periodic checks of securities they own to see that the prices match up with what appears on their statements, Walsh suggested.
Be wary of high-pressure sales tactics
If a promise sounds too good to be true, chances are it is. That particularly goes for offers that require you to act immediately, or success rates that are too good.
“If someone offers you a guaranteed high rate of return, they’re lying,” said Donley. “You’re probably looking at a fraud.”
Sales pitches that lead you to believe that the offer is only available for a limited time or restricted to a special group of people should also be a red flag.
And watch for any information that comes with free offers, such as educational seminars that provide lunch or mail offers that include trinkets. Those will make you more likely to respond.
“You have a tendency to believe this person and trust this person,” Walsh said. “The one thing we always say about free meals is you don’t have to bite on what’s being offered.”
Hold onto your money until you are sure
If you have any doubt about an investment, check into it before you put your money in.
“The criminals spend the money, so even when we nail them, the money’s often gone,” said Donley.