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Flawed Financial Decision? February 28, 2017

Posted by bluedevil32 in finance, Uncategorized.
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This article has brought praise: SingleMomPaysRentforYearUsingTaxReturn. However, a basic understanding of future/present value is skipped in this story. I believe she’s choosing to be “responsible” in paying rent vs spending it on vacation or unnecessary items for her kids, but it also illustrates a lack of understanding for fundamental financial details (that should be MUCH more important to learn early on). Opportunity cost of losing the money for the year, or going into details of how she received so much for her return in the first place (lent FAR TOO MUCH money over the previous year).

About 5 years ago, there was a larger push in the financial services industry to bring an analyst/advisor to every high school to have “qualified” (debatable, but at least licensed) experts (this word is becoming annoying, as well) teach fundamental financial information to the future masses. I cannot attest to generations before me, but as far as my high school career went, CHEE (child, health, and something) and economics were the extent of in-school teaching. I was lucky enough to have a family that provided me an environment of numbers, games, and finances, as well as schools that pushed early for branching out. That doesn’t mean I have been without my own transgressions in a monetary realm, but can say that the high school classes didn’t scratch the surface of what I learned previously.

From students I talk to and teach in school now, I don’t believe the basic individual finances are taught, still. It could be a flawed forum in economics (as opportunity costs are discussed), and business courses go over concepts, but neither focus at an individual level. It needs to get better, and I’m not sure when anyone is or will be required to take these courses. I have friends out of MBA’s/Law School and Med Schools that never took courses on it. Luckily, for the curious and responsible ones, there is a wealth of information available now online, and as more people see larger and larger parts of networks, you hopefully become more comfortable to discuss them. For those that don’t, hopefully trial and error occurs earlier than later.
And people wonder how the debt continues to rack up…. That topic I’ll leave for another day. SingleMomPaysRentforYear

Great Humans – Steve Jobs? Quora responds March 22, 2016

Posted by bluedevil32 in experience, questions, social, Uncategorized.
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There was a fascinating Quora question posed about where you would rate Steve Jobs on a scale of 1-10 of the greatest humans ever. Steve Jobs – not greatest human ever – Quora for the read. There were some fascinating comments that usually comprised of two parts: a) Steve Jobs is nowhere near the list for greatest humans ever (probably much to the chagrin of millennials and those who only know Apple), and b) there is likely a “small encyclopedia” of people ahead of him on the list, depending on how you may rate a ‘great human’.

In no particular order, persons who were brought up that stood out for me from the comments in the article:

  • Gandhi – who freed a nation by protesting peacefully, costing him his life
  • Stanislav Petrov – for urging incoming missile signals were the result of a systems error and refusing to fire retaliatory Soviet nuclear strikes, at the cost of his career.
  • Jonas Salk – creator of the polio vaccine who promptly gave it away instead of patenting and profiting (biotechs, do you read this?)
  • Florence Nightingale – who pushed tirelessly for improved health standards and ushered the move toward modern nursing

Steve Jobs seems to have been an excellent entrepreneur in not taking no as an answer and pushing his vision forward. He built up the company by being an excellent salesmen while extracting the best from his top engineers. Likely a bit on the cutthroat side, and clearly was a master businessman. He had his negatives (I believe ‘caged safety’ vs ‘risky freedom’ was a description of the Chinese Apple conditions).

Each individual has their own unique skill set. One can only hope that we are able to figure out that passion and able to work through our strengths. To progress humanity, that strength may come at some cost to the individual. But therein lies the selflessness.

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