The Scary Truth About Wall Street

Once upon a time, I wished to be wall street broker, not for long but for a very brief period of time, I had no idea how hedge funds and all other stock related stuff worked (I still have very little idea about it), so I started googling about it. Soon to realize that it is not my cup of tea, nevertheless I still wish the lavish lifestyle it gives to people who are in this business, as seen on Hollywood movies until now.

turney duff

Turney Duff, a former hedge fund broker on Wall Street and New York Times bestselling author of, The Buy Side: A Wall Street Trader’s Tale of Spectacular Excesswas today’s guest at James Altucher podcast. He is also a consultant on upcoming Showtime show, “Billions”, and is featured on the CNBC show, “The Filthy Rich Guide”.

On the show he shared his journey on Wall Street which was very eye opening to me since it was kind of revelation that what exactly happen over there. Of course we see that in the movies but it’s hard to believe from the movies since they are made not tell the truth but to make money instead.

The truth however was really scary, he shared all the illegal practices that happen in there, it was all Greek to me but I understood the core of it.

One thing that he shared which I really appreciate was that, he always wanted other people to like him, and shared how difficult that goal was, and finally he decided that he would never try to be liked by other people again.

He shared his challenges with cocaine and it was really horrifying to know all that. His final words for wall street was, “it is not worth doing”.

Thank you,

Faisal

 

 

 

Things I learn From Adam Grant

Today I listened to one of James Altucher podcasts and the guest was Adam Grant best selling author and professor at Wharton School of the University of Pennsylvania. He is also youngest tenured and most highly rated professor at the Wharton school. You can find more about him on Wikipedia.

One of the notable thing that I learned today was to know how procrastination could be beneficial to us and really liked the explanation on how our mind subconsciously act on the idea while we are busy procrastinating it. Cool huh..!

We always want to come up with original ideas and for me it’s like lot of work and it seems like an impossible thing to do, but in the discussion I get to know that to be original  it just mean to be different and better and it really simplified the equation for me.
I am very reluctant to discuss my ideas to those who could thrash them at the first sight, and in the discussion I got to know that it’s really important to share the idea to the people who generally disagree with you, and how we can utilize this fact to improve our idea.
Adam_GrantI got to know about the pioneers and settlers, well the names are almost self explanatory, pioneers are the one who do new things, and settlers are the ones adopting the new thing. Well we have a notion, more precisely I had a notion and always wanted to be a pioneer but in the discussion I got to know that many large players in the world are not the pioneers and actually are the settlers. Google, Microsoft, Apple and many other companies and their CEOs none of them were pioneers, however all of them had original ideas to build their business, which again leads to being original only mean different and better.  
One of the virtues that Adam explained was how important it is to be willing to be wrong and updated again and again, which I would keep in mind.

It was really very informative podcast overall and I am looking forward to read his new book Originals: How Non-Conformists Move the World.

Thank you,

Faisal

Things I Learn From Russell Simmons

Today I got to know about Russell Simmons an American Business Magnate and world’s third richest figure in hip hop industry.  In the podcast they discussed how he transformed himself from a drug addict to a successful business man. I got to know him through James Altucher weekly podcasts. James Altucher does this weekly podcasts where he invites successful business men from all over the world, to share their life journey. I am an avid follower of his podcasts.

Russell-Simmons-730Russell shared that he practices Yoga and meditation and he is also on a vegan diet from several years. He also shared many of his beliefs on why we should not consume non vegetarian food and the American polices behind cheapening the animal meat and how that’s harmful for people who are consuming it.

On his journey from being a drug addict to a successful business man, he shared that people take drugs only to have a quite mind, and drugs give an illusion to it but to gain consciousness meditation is the only way to go. He described that life’s only goal is to be happy and comfortable, which I completely agree with because I find this definition in every successful person’s dictionary. He tell everyone to focus on giving and he believes that by giving we get more from the universe.

Russell Simmons have written many books and 4 of them were in New York best sellers list. I am looking forward to read those books.

Thank you,

Faisal

Challenging the Status Quo

I have recently listened to one of the podcasts of James Altucher where he interviewed Duck Duck Go CEO Gabriel Weinberg.

This guy is awesome, he is the founder of a search engine Duck Duck Go, which was launched 7 years back and he is doing quite good right now. Creating a new search engine is really mind boggling and he along with his team (around 20 people) are stealing millions of users from Google every single day.

Challenge-the-Status-Quo

He is fighting against the most powerful company in the world, it is like Steve Jobs fighting with IBM in his days. He is challenging the Status Quo.

Steve jobs in one of his interview said that the world around us has been built by people like us, but at the same time we have been told to fit it in, and do what everybody else is doing, get a job , save some money and that’s it. Well we have an option not to be like that and if we choose to be different, sure some people might say that we have gone crazy.

Think about it, whenever Gabriel would have said that he is building a search engine better than google, everybody in the hall must have laughed at him, well not anymore.

It is OK to be laughed at for sometime, we called Steve Jobs a visionary and yet many among us do not know what it means, well in simple terms it means that seeing things what many can’t.

Steve Jobs was a visionary and so is Gabriel Weinberg. I am very grateful to James Altucher for his weekly podcasts. It is giving me strength to pursue my dreams and to be different.

Hope you find some value from it.

Thank you,

Faisal