In last week’s post I talked about recurring billing, and it’s powerful effect on generating continuous income. But I want to move away from that line of thinking today and focus on an even more powerful method to get repeat business from the same clients.
I think when you visit any country, you should spend some time immersing yourself in that countries unique customs. A lot of the time, this means doing something native that can’t be experienced anywhere else. In Spain, you might think about running with the bulls. In Ireland, a visit to a 2,000 year old tomb followed by a stiff drink at the Jameson factory is in order. And in China, well you can do a lot of stuff in China that would probably be illegal anywhere else. I want to share one of those experiences with you.
Steve Forbes Interviews Liz Ann Sonders, Charles Schwab chief investment strategist
(Click above to open video in new window)
2:20 – Establishes her investing philosophy of long time guidance over market timing
3:15 – Explains emotion and time as two components of risk
4:40 – Over time proper asset allocation drives 90% of returns (selling into strength and buying into weakness). It’s also automatic
8:00 – Pockets of recovery throughout the economy
9:45 – Bloomberg financial conditions index as a snapshot for the credit market
12:00 – Fed has a tough balancing job between stimulating economy and limiting inflation. Sonders gives them a good mark
18:30 – Greatest financial lesson: Finance needs to be more accessible (Hope I’m helping!)
19:50 – Not bad a time to go to graduate school, then come back out during boom
20:50 – Agreed, most models are BS. A lot of models are really complicated but depend strongly on a few variables, which can be tweeked by bankers. There’s also the real life problem of “garbage in garbage out” meaning if what you use as inputs isn’t accurate, you’re output will be significantly off.
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I own and operate an internet consumer marketing company. Previously, I worked for 2 years on Wall Street as an investment banker. I graduated with an Economics degree from Brown University. |
