It`s different this time

PasturesNew

fc123 wrote: »

...a regular big spending customer ... her wealth ... from property. Her fathers property business ...newbuild.....and it's all going horribly wrong.

It's rubbish what is happening to her and her family business.

You'd think they'd have their finger on every pulse.

One of the reasons I am not a risk taker is that I need to feel I understand fully everything that's going on. And if there's a gap in my knowledge then I can't proceed.

Before starting any activity, I have to know what to expect from start to finish - and to have worked through several contingencies and scenarios.

How one can have a whole family business with total tunnel vision surprises me. Surely their standard management stats and analysis should have pointed to something being amiss long before it was too late. If I were in their business I'd know the cost of every brick in a build and how many hours it took from start to selling it. It'd be analysed to within an inch of its life and studied for exceptions.

That's what management do. Look at exception reporting, spot trends, investigate the unexpected and ensure the expected occurred.

fc123

PasturesNew wrote: »

You'd think they'd have their finger on every pulse.

One of the reasons I am not a risk taker is that I need to feel I understand fully everything that's going on. And if there's a gap in my knowledge then I can't proceed.

Before starting any activity, I have to know what to expect from start to finish - and to have worked through several contingencies and scenarios.

How one can have a whole family business with total tunnel vision surprises me. Surely their standard management stats and analysis should have pointed to something being amiss long before it was too late. If I were in their business I'd know the cost of every brick in a build and how many hours it took from start to selling it. It'd be analysed to within an inch of its life and studied for exceptions.

That's what management do. Look at exception reporting, spot trends, investigate the unexpected and ensure the expected occurred.

Absolutely...but they got caught up in the HPC of 2005..it didn't happen....and then prices went up again. It was that blip on the economics graph that beingjc posted.
So people think that they have The Midas Touch (STS) and they will continue onward and upward....their skill outsmarting 'The Market.


Rubbish for me actually...theres me thinking I sell great product as customers like her couldn't get enough of it........and now, she is crunched....still loves my product but can't buy it............so me crunched too!

PasturesNew

fc123 wrote: »

Absolutely...but they got caught up in the HPC of 2005..it didn't happen....and then prices went up again. It was that blip on the economics graph that beingjc posted.
So people think that they have The Midas Touch (STS) and they will continue onward and upward....their skill outsmarting 'The Market.


Rubbish for me actually...theres me thinking I sell great product as customers like her couldn't get enough of it........and now, she is crunched....still loves my product but can't buy it............so me crunched too!

Get her working for you if that's an option. She can flog your wares at parties at her home; you could set up a party plan company using people like her that don't want to admit they're skint. She could turn her commission into free clothes.

The downside to that is: will people in her position really want/need to work that hard at something? you'd have the risk of stock out there.

teabelly

PasturesNew wrote: »

Yes, stuff like that is overwhleming ...
There are a lot of new words in there.

Overall, I'm not sure if I could easily commit to that final "click" of commitment. The ocd I'd have in checking/double-checking, saying it out loud to myself slowly to check I was doing the right thing ... all a bit scarey.

But I like to think that maybe, one day ... I'll be able to research/understand and try a bit.

As for reducing tax, I won't be a higher rate tax payer and for the tiny amounts I'd dare to play with I'd be keeping it simple. Certainly not involving SIPPS/ISAs. Out of my league that is/sounds.

I'd be more nervous about forex.

While I could look at a list and randomly be happy picking to buy/buy/buy in a spud merchant and sell/sell/sell in aviation ... I've no experience of foreign currencies (never been abroad) and it would be way too risky for me to try to second guess what's going on in countries that I don't even know the location of.

I have very rigid comfort zones and I can't easily move out of them.

I started with a demo system, bull bearings. I used to keep checking and rechecking as well as spending endless hours watching prices tick up and down. With ocd it may actually help as you have an outlet for compulsive monitoring If you get used to playing with imaginary money then it becomes a lot easier to do it for real. I only really follow a couple of shares. You can just trade up and down their ups and downs. Pick a company you know and it makes it much easier. You can just use charts and technical methods, even with currencies as they are big markets that tend to follow trends quite strongly. You can just jump on a trend and hop off when your charts and other tools tell you it is time to take your profit and run.

Being wrong is all part of the learning experience. I used to be hung up on always trying to do the right thing and do things as nearly perfectly as possible. I'd get fed up if I couldn't master something within minutes or hours of first trying it. Now I settle for doing things well or even just ok and not bothering whether I did something wrong or things went the wrong way. Oddly I seem to have been more lucky and a lot happier by just not giving a rat's

PasturesNew

teabelly wrote: »

I started with a demo system, bull bearings. I used to keep checking and rechecking as well as spending endless hours watching prices tick up and down. With ocd it may actually help as you have an outlet for compulsive monitoring If you get used to playing with imaginary money then it becomes a lot easier to do it for real. I only really follow a couple of shares. You can just trade up and down their ups and downs. Pick a company you know and it makes it much easier. You can just use charts and technical methods, even with currencies as they are big markets that tend to follow trends quite strongly. You can just jump on a trend and hop off when your charts and other tools tell you it is time to take your profit and run.

Being wrong is all part of the learning experience. I used to be hung up on always trying to do the right thing and do things as nearly perfectly as possible. I'd get fed up if I couldn't master something within minutes or hours of first trying it. Now I settle for doing things well or even just ok and not bothering whether I did something wrong or things went the wrong way. Oddly I seem to have been more lucky and a lot happier by just not giving a rat's

I have a list of To Do things in my head and when I feel I have a slot available I mentally book them into a slot. Once I start something I tend to totally lock into it for days/weeks/years on end (hence my sudden appearance here and no sign of shutting up yet ..). So it's just a question of getting "in the zone" and I'd be off...

I am a unitasker, not a multitasker (which shocked me when I found out/realised as I'd always thought I was a multitasker, but it seems not and now I see it). I do everything in life in batches. And I have to work up to some of the simplest of things by working up to it over a long period of time before setting aside a day to tackle it ... then I "circle" the activity (cig breaks, coffee breaks, load it up, close it down, walk away, walk back ....) then I attack and stay locked in for unimaginable amounts of time.