Nikola Tesla: “I do not think there is any thrill that can go through the human heart like that felt by the inventor as he sees some creation of the brain unfolding to success. Such emotions make a man forget food, sleep, friends, love, everything”

11 Bizarre Sleeping Habits Of Highly Successful People

VIVIAN GIANG NOV. 19, 2013, 11:24 AM 219,099 6

One of a professional’s most important daily rituals is how and when they sleep, since this affects how well they perform on the job. For people at the top, who often face intense pressure and packed schedules, sometimes these sleeping habits can be quite strange. Olympic gold medalist Michael Phelps, for instance, sleeps in a high altitude chamber which forces his body to work even while resting. Meanwhile, famed writer Charles Dickens always slept facing north, and inventor Nikola Tesla never slept for more than two hours a night. Here’s a look at the most bizarre sleeping habits of highly successful people.

nikola-tesla-wireless-electricity nikola-tesla-1

Inventor Nikola Tesla never slept for more than two hours a day.Tesla got more out of the day with his limited sleep schedule. Like Da Vinci, Telsa also followed the Uberman sleep cycle and claimed to never sleep for more than two hours a day and reportedly once worked for 84 hours in a lab without any rest or sleep. “I do not think there is any thrill that can go through the human heart like that felt by the inventor as he sees some creation of the brain unfolding to success … Such emotions make a man forget food, sleep, friends, love, everything,” he said. Read more of this post

Malcolm Walker, Iceland’s frozen food evangelist; “A lot of my friends who’ve had businesses have sold them and suddenly got old very quickly.” “Some of my friends have done well in business . . . their 17-year-old gets a BMW, they all turn out brats. My three children are amazing. They know the value of money.”

November 10, 2013 1:40 pm

Malcolm Walker, Iceland’s frozen food evangelist

By Emma Jacobs

download (32) Malcolm-Walker-006

There is a great deal of snobbery surrounding Iceland, the frozen food emporium started by Malcolm Walker more than four decades ago. People like to mock its doner kebab pizzas and its party packets of “bubble bobble” prawns. He has heard it all before. There has always been, he observes, a distinct class difference between the City of London and its metropolitan media, and northern entrepreneurs, like him. Read more of this post

Big Trouble In Massive China: “The Nation Might Face Credit Losses Of As Much As $3 Trillion”

Big Trouble In Massive China: “The Nation Might Face Credit Losses Of As Much As $3 Trillion”

Tyler Durden on 11/19/2013 12:09 -0500

The following chart from Bloomberg showing official Chinese NPL data has its pros and cons.

China NPLs_0

The pros: it shows that the trend in improving NPLs has dramatically inverted in the past ten quarters and has risen to the highest in at least three years.

The cons: the chart, which again is based on official data, is woefully misrepresenting and underestimating just how profound the bad debt situation is in a country in which each month pseudo-nationalized banks issue loans amounting to the same or more in new liquidity as the Fed and BOJ do combined!  Read more of this post

Interest Rate Swaps Hit Record High As China Warns “Big Chance Of Bank Failures”

Interest Rate Swaps Hit Record High As China Warns “Big Chance Of Bank Failures”

Tyler Durden on 11/19/2013 22:35 -0500

20131119_china_0

Overnight repo rates are spiking once again in early trading as the typically smaller banks that are more desperate bid aggressively for whetever liquidity they can find. 5Y Chinese swap rates have also reached a record high as the Yuan reaches its highest since Feb 2005. Chinese authorities are clearly stepping up the rhetoric:

*CHINA SHADOW-FINANCE RISKS WILL SPREAD TO BANKS, FANG SAYS

*VERY BIG CHANCE ONE OR TWO SMALL CHINA BANKS WILL FAIL: FANG

*SOME CHINA TRUST INVESTMENT FIRMS MAY FAIL, SELL ASSETS: FANG

*CHINA MUST PLAN FOR BANK-FAIL SCENARIOS TO MANAGE RISKS: FANG

*CHINA NEEDS TO PAY MORE ATTENTION TO CORPORATE LEVERAGE: HU

The gambit between the PBOC’s liqudity provision and the growing dependence on their “spice” is clear – the question is, of course, will banks send a message (via the markets) to the PBOC or will they self-select (on first-mover’s advantage) eradicating the weakest. 5Y Chinese Interest Rate Swaps have reached a record high (implying expectations priced into the market of rising interest rates)… and short-term liquidity is problematic again as overnight repo jumps to 5.00% in early trading.. What everyone is wondering is – with the failure of 1 or 2 banks seemingly guaranteed – how will the contagion be contained? How will the interbank market respond when no one knows who is it? We know what happened in the US in 2008…

Disruption and loss can foster growth; Adversity often provides the stimulus that drives a determination to success in business

November 19, 2013 4:10 pm

Disruption and loss can foster new growth

By Luke Johnson

Adversity often provides the stimulus that drives a determination to success in business

E xperiencing adversity is almost a necessary precondition for those destined for the top. As Henry David Thoreau said: “You cannot dream yourself into a character; you must hammer and forge yourself one.” If it all comes too easy, if your life is too comfortable, then you are unlikely to stretch yourself, or know how to handle hard knocks. Nothing creates adversity like war. It is almost always a tragic waste of lives and resources. But from all the terrible dislocation of armed conflict a number of businesses have emerged. Read more of this post

Signs of ‘sudden’ cardiac death may come weeks before: study

Signs of ‘sudden’ cardiac death may come weeks before: study

Tue, Nov 19 2013

By Ransdell Pierson and Bill Berkrot

(Reuters) – Signs of approaching “sudden” cardiac arrest, an electrical malfunction that stops the heart, usually appear at least a month ahead of time, according to a study of middle-age men in Portland, Oregon. “We’re looking at how to identify the Tim Russerts and Jim Gandolfinis – middle aged men in their 50s who drop dead and we don’t have enough information why,” said Sumeet Chugh, senior author of the study and associate director for genomic cardiology at the Cedars-Sinai Heart Institute in Los Angeles. Read more of this post

Hemingway’s Secret to Maintaining Productive Momentum: Always Leave a Little Water in the Well

HEMINGWAY’S SECRET TO MAINTAINING PRODUCTIVE MOMENTUM

THE IMPORTANCE OF BEING LIKE ERNEST? TREAT YOUR PRODUCTIVITY AS IF IT’S A RENEWABLE RESOURCE: ALWAYS LEAVE A LITTLE WATER IN THE WELL.

BY DRAKE BAER

To Ernest Hemingway, writers are like wells: “The important thing is to have good water in the well,” he told the Paris Review, “and it is better to take a regular amount out than to pump the well dry and wait for it to refill.” In this way, Hemingway coined the phrase leaving water in the well: instead of spending all your creative juices all at once, you leave a little bit of inspiration so that you can return to the same momentum that you left it with. Hemingway, whose habits of badass productivity we’ve talked about before, said to never stop writing without knowing how you are going to start again, to, in other words, never end a day’s work without knowing how you are going to start the next day. Read more of this post

U.S. marks 150th anniversary of Gettysburg Address

U.S. marks 150th anniversary of Gettysburg Address

AFP-JIJI

NOV 20, 2013

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Oration for the ages: An actor portraying Abraham Lincoln poses for photos Tuesday in Gettysburg, Pennsylvania, after a ceremony commemorating the 150th anniversary of the 16th president’s delivery of the Gettysburg Address. | AP

GETTYSBURG PENNSYLVANIA – The Gettysburg Address, Abraham Lincoln’s undying call for a “new birth of freedom” at the bloody turning point of the U.S. Civil War, turned 150 years old Tuesday, even as the union he fought to preserve quarrels bitterly over the role of government. Thousands of people bundled up against the autumn chill — some in Civil War-era uniform — crowded into the Soldiers’ National Cemetery where Lincoln delivered the 272 words that became one of the most revered speeches in U.S. history. Read more of this post

End of the imperial corporate leader; CEOs have to trust staff to get on with the job

November 18, 2013 4:26 pm

End of the imperial corporate leader

By Andrew Hill

CEOs have to trust staff to get on with the job

Not much unites Franz-Joseph I of Austria-Hungary and a flock of starlings. But when Don Tapscott, the business thinker, used film of murmurations of flocking starlings  to conclude a presentation about managing complexity in Vienna last week, the mesmerising images unfolded alongside the forbidding presence of the old emperor, staring down from a gilt-framed portrait. The coincidence underlined Prof Tapscott’s point. Starlings, somehow organising themselves en masse to see off predators, are at the opposite end of the leadership spectrum from the all-powerful arch-bureaucrat, imposing his system on a highly complex empire. Read more of this post

Rich make same investment errors as rest; Study shows only super rich are ahead of the game

November 20, 2013 8:36 am

Rich make same investment errors as rest

By John Authers

When investing, it often hurts to think of what might be possible if only you started with even more money. Those already wealthy have far more opportunities to use investment to make themselves wealthier. They can afford to take more risk, they can tie up money in more illiquid products, they can afford the high minimum investments for alternative asset classes, and they can even afford to pay for the best advisers. Read more of this post

Caring for Aging Parents: Adult children who have overseen their parents’ care say that besides physical and emotional strains, there are financial effects that can include a loss of job mobility

November 19, 2013

Caring for Aging Parents, Even From a Distance

By PAUL SULLIVAN

THROUGH the 1990s, Patrick Quirke’s career was sailing along. Every few years, he would be promoted at the transportation company where he worked and move to another city. He said he had every reason to believe that he would be promoted to the company’s headquarters in a few more moves. Then, his parents’ health started to decline. First he moved them to Indiana, where he was living, from California, where they had retired to help his sister, who had been injured in an accident. He said they did well in the independent-living facility he found, but then his mother’s dementia grew worse and his father started to decline physically. Read more of this post

Richard Branson: make the dream of running your own business a reality

Richard Branson Contributor

Richard Branson: make the dream of running your own business a reality

Published 20 November 2013 10:12, Updated 20 November 2013 10:13

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Richard Branson: “If you have confidence in your business, sooner or later you’ll have to give it a go full-time.” Photo: Josh Robenstone

Almost everyone has some entrepreneurial spirit and, with it, the potential to run their own business. But an entrepreneur’s life isn’t for everyone. Many people decide instead to put their talents to work at somebody else’s company, innovating as “intrapreneurs”. For others, working for someone else is never an option, and so they start launching their own ventures early on. If you have confidence in your business, sooner or later you’ll have to give it a go full-time. If you don’t, you’ll spend the rest of your life wondering what might have been. Read more of this post

As our lawyers increasingly suffer from financial hardships due to the economic slowdown, corruption is becoming more rampant among that socially respected class

More shady lawyers

Nov 20,2013

As our lawyers increasingly suffer from financial hardships due to the economic slowdown, corruption is becoming more rampant among that socially respected class. In sharp contrast with the past, lawyers are actively committing fraudulent practices rather than being passively engaged in them as enablers. It is time for the government to come up with measures to help preserve the integrity of that exclusive club and avert potential damage for their clients.  Read more of this post

Stop fraudulent accounting

Stop fraudulent accounting

Nov 20,2013

Accounting fraud has long been a prevalent and deep-seated problem. There had been various measures to tackle it, but fraudulent practices continue. Listed companies subject to routine audits live in fear of the bill they will get once the books are cleaned up. Of course, the primary responsibility for stopping accounting fraud lies with the companies themselves. Companies can cook up the books and hide liabilities in many different ways if they want to, leaving their accountants to claim they could not uncover all those dubious practices.  Read more of this post

Julian Richer started selling hi-fi equipment as a schoolboy with something to prove

November 19, 2013 4:02 pm

Good vibrations on the high street

By Jonathan Moules

Julian Richer is fretting about catching a train. “I have to be in a taxi at 10,” says his email, explaining that he has an economy ticket for the journey home to York, which means he can travel only on the 10.30am from Kings Cross. He will have to leave our meeting at The George, his Mayfair club, prompt­ly. He usually forswears taxis too, he later adds. He is making an ex­ception today because he is squeezing the meeting in between a visit to one of his shops and hosting a Bible study group at his Georgian mansion in the Yorkshire countryside. Mr Richer is one of the UK’s most successful retailers, although a lack of overseas outlets makes him little known beyond the Channel. Read more of this post

Shiller vs. Fama vs. the Skeptics

NOVEMBER 19, 2013, 7:32 PM

Shiller vs. Fama vs. the Skeptics

By BINYAMIN APPELBAUM

Robert Shiller and Eugene Fama, sharing a stage for the first time since it was announced last month that they would share the 2013 Nobel Memorial Prize in Economic Science, sparred with languorous familiarity Tuesday about the efficiency of financial markets. The electricity, somewhat surprisingly, came from some of the chemists and biologists who joined the two men on a stage at the House of Sweden in Washington for a discussion featuring all nine of the nation’s 2013 crop of Nobel laureates. Read more of this post

Harvard’s top entrepreneurship professor reveals MBA’s biggest misconceptions and why bad ideas and fantastical thinking can be an asset

Why entrepreneurs need to be a little delusional

November 19, 2013: 1:36 PM ET

Harvard’s top entrepreneurship professor reveals MBA’s biggest misconceptions and why bad ideas and fantastical thinking can be an asset.

Interview by Taylor Ellis

(Poets&Quants) — Ask any of the founders behind Harvard Business School’s most successful startup — from clothing swap service thredUP to website optimizer CloudFlare — and they’ll all point to a single key to getting a business off the ground: Tom Eisenmann, Harvard’s veteran entrepreneurship professor, whose legendary Launching Technology Ventures course has helped legions of budding entrepreneurs find their focus and bring their ideas to fruition. Eisenmann co-chairs HBS’ Rock Center for Entrepreneurship, the campus’ nucleus for new ventures, and leads trips to Silicon Valley and New York for students eager to experience America’s innovation epicenters firsthand. Read more of this post

The Co-operative Group said that its chairman had resigned after the former head of its banking arm – which prides itself on ethical investments – was filmed allegedly planning to buy illegal drugs

Co-op says chairman quits over bank scandal

The chairman of Britain's Co-operative Group, Len Wardle, is seen in this undated photograph received via the The Co-operative Banking Group, in London

Tuesday, November 19, 2013 – 20:16

AFP

LONDON – The Co-operative Group said on Tuesday that its chairman had resigned after the former head of its banking arm – which prides itself on ethical investments – was filmed allegedly planning to buy illegal drugs. Len Wardle, chairman of the supermarket-to-banking business, said he was standing aside after former Co-operative Bank chairman Paul Flowers – a 63-year-old church minister – was linked to allegations involving crack cocaine, crystal meth and ketamine. Read more of this post

Start-Up Founders Look Beyond the Usual Options of Selling or Going Public

NOVEMBER 19, 2013, 1:01 PM

Start-Up Founders Look Beyond the Usual Options of Selling or Going Public

By THE NEW YORK TIMES STAFF

Successful tech entrepreneurs eventually face a choice, known in Silicon Valley as an exit: either sell their start-ups to bigger companies or take them public. As we wrote on Monday, that decision can be painful and personal. And like Snapchat’s rejection  of Facebook’s billion-dollar offer, it is often a high-stakes bet. But some entrepreneurs are seeking other options beyond the traditional two, inspired partly by the stories of start-ups that rebuffed buyout offers or regretted taking them. Below are entrepreneurs’ experiences, in their own words, as told to Nick Wingfield, Jenna Wortham, Brian X. Chen, Nick Bilton and Claire Cain Miller. Read more of this post

Step Inside Africa’s First Underwater Hotel Room

Step Inside Africa’s First Underwater Hotel Room

PAIGE COOPERSTEIN NOV. 19, 2013, 4:43 PM 8,693

Sleeping with the fishes just became a good thing. Africa opened its first underwater hotel room this month, making it the second in the world.  The room, at the Manta Resort on the Zanzibari island of Pemba, was designed by Swedish artist Mikael Genberg, who also built the first underwater hotel room in a lake in Sweden. The Manta Resort room sits 4 meters beneath the surface (that’s just over 13 feet, three feet deeper than the room in the Swedish lake). The three-tiered suite includes a roof deck, a landing deck at sea level with a lounge and bathroom, and of course the underwater bedroom surrounded by windows that afford a nearly 360-degree view of a nearby coral reef and dozens of species of fish. Anchor wires tether the structure to the sea floor. A stay in the underwater hotel room goes for $900 a night as a single or $1,500 a night as a couple. The room sits just over thirteen feet deep in the Indian Ocean off the coast of Tanzania. Here’s the view from inside the underwater bedroom. The windows are under-lit to offer a good view of the ocean at all times.

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The Mind-Blowing Science Of Sleep

The Mind-Blowing Science Of Sleep

FARNAM STREET NOV. 19, 2013, 4:28 PM 4,518 1

Sleep is way more important than we realize. It’s also, according to David Randall in Dreamland: Adventures in the Strange Science of Sleep, “the largest overlooked part of your life and … it affects you even if you don’t have a sleep problem.” We do spend about a third of our lives asleep. Or trying to sleep. Increasingly we’re turning to prescription meds to help us sleep. In the interest of sharing things with you, I thought I’d share my “sleep” file. We still don’t understand much. Read more of this post

The worst practice in advertising is far too common (and expensive)

The worst practice in advertising is far too common (and expensive)

BY JEFF ZWELLING 
ON NOVEMBER 19, 2013

Brands have become increasingly persistent about the ways in which they follow individual consumers around the Web. When I look at a pair of shoes online on a Saturday but don’t buy them, chances are good that I will see those very same shoes pop up in ad banners on unrelated websites by Monday. On Tuesday, they’ll be in the ad feed of my favorite social networking site and Wednesday I might find a discount coupon in my email inbox to buy the shoes at a reduced price. By Thursday, I could feel like cornered prey, with those shoes popping up everywhere I turn online. Read more of this post

Investing Is Still More Art Than Science

Investing Is Still More Art Than Science

By Morgan Housel | More Articles
November 18, 2013 | Comments (10)

I was in Orlando this weekend at the American Association of Individual Investors annual conference. Investor James O’Shaughnessy, who I greatly admire, gave a wonderful talk called “What works on Wall Street.” It got me thinking about something important. It’s actually one of the things that drives me crazy about finance. O’Shaughnessy began noting that in Benjamin Graham’s day, the first half of the 20th century, good financial data was extremely hard to come by, and good historical data going back more than a few years was nonexistent. This made studying finance close to impossible. Graham (Warren Buffett’s early mentor) once said that until more data was available, investors couldn’t dare call their trade a profession. It was an art, but not a profession. Read more of this post

“They come to visit certain companies. They see them, they leave. But their eyes remain fixated on what they came to see.”

Michael Bleby Reporter

Meet the fund manager who runs $500m – from $10-a-night hotels

Published 19 November 2013 11:52, Updated 19 November 2013 13:03

If you meet a middle-aged American staying in a $10-a-night room in the central Java city of Yogyakarta, don’t assume he’s just another backpacker. If his name is Robert Levitt, he is a fund manager working out how to use his $US500 million in funds under management. Right now, the traffic congestion in Yogyakarta is what occupies Levitt’s mind. Traffic congestion has long been a thing in the capital city of Jakarta, with its 9 million people, but seeing the rapid growth of small-car ownership and consequent gridlock in this regional city of 400,000, tells Levitt there is an opportunity. Read more of this post

Mao-era art fetching high prices at auction

Mao-era art fetching high prices at auction

2013-11-18 01:24:13 GMT2013-11-18 09:24:13(Beijing Time)  SINA.com

A screen grab from chinanews.com shows the photo of Lushan Mountain taken by Jiang Qing. A calligraphic album of 37 poems by Mao Zedong with sound provenance fetched 14.26 million yuan ($2.34 million) at an auction in Beijing on Saturday night. The calligraphic works were painted in running script (xing shu) by Guo Moruo (1892-1978), a government official and leading author and scholar of 20th-century China. Read more of this post

G. Moffett Cochran, Silvercrest Asset Management CEO, Dies at 63

G. Moffett Cochran, Silvercrest Asset Management CEO, Dies at 63

G. Moffett Cochran, co-founder and chief executive officer of Silvercrest Asset Management Group Inc., a New York-based firm catering to wealthy families, which went public in June, has died. He was 63. He died yesterday at Stamford Hospital in Connecticut, near his home in New Canaan, said his daughter, Lee Cochran. She said he survived 10 years with a neuroendocrine tumor on his pancreas, then his liver, because of experimental treatments with Robert L. Fine, a doctor at the Herbert Irving Comprehensive Cancer Center at New York Presbyterian Hospital-Columbia University Medical Center. Read more of this post

Management itself needs innovation

Management itself needs innovation

When I say the word “innovation”, what pops into your mind? Great products like the iPhone or iPad? Breakthroughs in scientific drug research? Social-media platforms like Twitter or Facebook? Maybe others.

BY NATALIE TURNER –

4 HOURS 27 MIN AGO

When I say the word “innovation”, what pops into your mind? Great products like the iPhone or iPad? Breakthroughs in scientific drug research? Social-media platforms like Twitter or Facebook? Maybe others. But I doubt the eight-hour workday, popularised by Henry Ford in 1914, or the Management by Objectives concept, coined by Peter Drucker in the mid-1950s, comes to mind. They have been around so long that we take them for granted. Read more of this post

Managers and Market Capitalism

Managers and Market Capitalism

Rebecca M. Henderson Harvard Business School; NBER

Karthik Ramanna Harvard University – Harvard Business School

November 9, 2013
Harvard Business School Accounting & Management Unit Working Paper No. 13-075
Harvard Business School Strategy Unit Working Paper No. 13-075
Harvard Business School General Management Unit Working Paper No. 13-075

Abstract: 
In a capitalist system based on free markets, do managers have responsibilities to the system itself? If they do, should these responsibilities shape their behavior when they are engaging in the political process in an attempt to structure the institutions of capitalism? The prevailing view — perhaps most eloquently argued by Milton Friedman — is that the first duty of managers is to maximize shareholder value, and thus that they should take every opportunity (within the bounds of the law) to structure market institutions so as to increase profitability. We maintain here that this shareholder-return view of political engagement applies in cases where the political process is sufficiently ‘thick,’ in that diverse views are well-represented and sufficiently detailed information about the issues is widely available. However, we draw on a series of detailed examples in the context of the determination of corporate accounting standards to argue that when the political process of determining institutions of capitalism is ‘thin,’ in that managers find themselves with specialized technical knowledge unavailable to outsiders and with little political resistance from the general interest, then managers have a responsibility to market institutions themselves, even if this entails acting at the expense of corporate profits. We make this argument on grounds that this behavior is both in managers’ long-run self-interest and, expanding on Friedman’s core contention, that it is managers’ moral duty. We provide a framework for future research to explore and develop these arguments.

Tales of the Greatest Investors: Alfred Lee Loomis

Tales of the Greatest Investors: Alfred Lee Loomis

by ValueWalk StaffNovember 19, 2013

Alfred Lee Loomis was accomplished in many areas, including science, philanthropy, law and investment banking. His laboratory in Tuxedo Park, New York was responsible for the development of enormously prolific scientific contributions, especially to the U.S. defense in World War II. He is not to be understated as a scientist; however, this discussion is not focused on Loomis the scientist, but on Loomis the investor. Originally, he was an attorney. Later he became an investment banker who made a lot of money in the 1920s in utilities. He and his partner, Landon K. Thorne, took over a nearly bankrupt investment bank known as Bonbright. Between 1924 and 1929 Bonbright underwrote 15% of not merely utility securities, a field in which Loomis specialized, but of all the securities issued in the U.S. Read more of this post

Big drugmakers such as Novartis turn from expansion to divestment

November 19, 2013 12:33 pm

Big drugmakers such as Novartis turn from expansion to divestment

By Andrew Jack

When Novartis revealed the sale of its blood diagnostics business last week, investment bankers could lick their lips at the prospect of fresh fees. After the mega-mergers of the previous decade, Novartis and other larger pharmaceutical groups are considering further divestments. Under Daniel Vasella, the longstanding chairman of Novartis, the focus of the Swiss company has been on expansion and diversification through acquisitions, culminating in the staggered $52bn takeover of Alcon, the eyecare business, between 2008 and 2010. Read more of this post

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