education

The Power of Perseverance: How These Great People Overcame Adversity to Achieve Success

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We all face challenges in life, but what sets great people apart is their ability to push through adversity and come out stronger. In this post, we’ll explore the inspiring stories of Alexander the Great, Franklin D. Roosevelt, Nelson Mandela, and sports legends like Michael Jordan and Drew Brees, who overcame obstacles and achieved greatness.

Alexander the Great

Alexander the Great was a Greek king and military commander who conquered much of the known world in the 4th century BC. Despite the challenges he faced, Alexander remained a fearless and determined leader who was able to inspire his troops and overcome seemingly insurmountable obstacles. Some of the challenges he faced include:

  • His father was assassinated when he was 20 years old.
  • His army had to endure extreme temperatures, dangerous wildlife, and difficult terrain as they made their way across vast distances.
  • His conquests took him through harsh and unforgiving environments, including deserts, mountains, and swamps.

Franklin D. Roosevelt

Franklin D. Roosevelt was the 32nd President of the United States and is widely regarded as one of the greatest American presidents in history. He led the United States through some of its greatest challenges, including the Great Depression and World War II. Throughout his presidency he launched Social Security which was a safety net for older folks, a work program that put millions of people back to work and the FDIC which helped protect people from bank failures. Despite his achievements, Roosevelt faced significant challenges throughout his life, including:

  • Contracting polio at the age of 39, which left him paralyzed from the waist down.
  • Facing skepticism from many Americans who believed he couldn’t effectively lead the country from a wheelchair.

Nelson Mandela

Nelson Mandela spent 27 years in prison as a political prisoner fighting against apartheid in South Africa. He endured brutal imprisonment and isolation, confined to a tiny cell and forced to do hard labor in the blazing sun. Raised in a regime that removed black people from their homes in mixed-race neighborhoods and resettled them in townships on the outskirts of cities, he fought tirelessly to end apartheid and bring about reconciliation and unity in South Africa. 

Sports Legends

There are tireless examples of people in sports who overcame adversity. Michael Jordan didn’t make his high school team and went on to lead the Bulls to six rings and lead the conversation as the greatest of all time. Drew Brees tore his shoulder in San Diego and it was thought he’d never play football again. He went on to win a Super Bowl and was one of the greatest quarterbacks of this generation. Muhammad Ali lost 3.5 years of boxing because he refused to fight in Vietnam. Mario Lemieux came back and led his team to the Stanley Cup after being diagnosed with Hodgkin’s lymphoma.

No matter what obstacles you’re facing, remember that you have the power to overcome them. Take inspiration from these great people and never give up on your dreams.

Life Skills that Should be taught in school – Financial Management

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“To be or not to be, that is the question.” How about to be broke or not be broke? I’ve never in my life had to go back to the lessons of Shakespeare when making an important decision, but you bet your bottom dollar that I’ve had to know the basics of finance to live!

Financial management includes skills such as budgeting, saving, investing, and managing debt. I’m going to try and keep all of this fairly high level and we can deep dive each of these skills in a separate post. For now, let’s get tot he basics of Financial management skill that should be taught to children in schools.

  1. This is how you create your budget
    1. Know your income: Start by figuring out how much money you have coming in each month.  ALL OF IT.  
    2. Identify your fixed expenses: Monthly bills that don’t vary, such as rent or mortgage payments, car payments, and insurance premiums.
    3. Identify your variable expenses: Bills that can change from month to month, such as groceries, utilities, and entertainment (Watch this one closely).
    4. Track your spending: For a few weeks and then a few months, keep track of all the money you spend, ALL OF THE MONEY. This will help you see where your money is going and identify areas where you may be able to cut back (I’m looking at you fancy dinners & club nights!).
    5. Create a budget: Use the information you gathered to create a budget that outlines your income and expenses. Make sure to allocate enough money to cover your fixed expenses and to set aside money for savings.
      1. Set fun money aside in your budget.  Live your life, just don’t sacrifice your future!  Call it, My Fun Money.
    6. Stick to your budget: Once you have created a budget, try to stick to it as closely as possible. This requires discipline..
    7. Review your budget regularly: If it ain’t tracked, it doesn’t matter. 
  2. Saving – The process of setting aside a portion of your income for the future, rather than spending it all
    1. Open a checking and savings account with a bank that will also give you a free brokerage account
      1. From your budget, pay yourself.  Seriously, you always need to save a portion of your income for your future self.  Sacrifice other shit to do this if necessary.  I personally like to have my cash needs in checking, emergency reserves in savings or short term TBills (see brokerage account) and then all else in my brokerage account.
    2. Set financial goals: Identify what you want to save for, such as an emergency fund, a down payment on a house, a trip, a lifestyle, a car or retirement. Money, like everything else, requires a plan.
    3. Automate your savings: Set up automatic transfers from your checking account to a savings account & brokerage.  Stop yourself from forgetting.
    4. Cut expenses: Look for ways to reduce your expenses, such as by negotiating bills or shopping around for the best prices.
      1. It’s OK to negotiate, it’s money in your pocket or theirs.  
    5. Increase your income: Consider ways to increase your income, such as by asking for a raise at work or starting a side hustle.
      1. Know your worth and don’t be afraid to get more.
    6. Save your windfalls: When you receive unexpected money, such as a bonus or a tax refund, put it into savings rather than spending it.
    7. Avoid debt: Debt can be a major drain on your finances, so try to avoid taking on unnecessary debt whenever possible.  (See Below, not always bad)
  3. Investing – The act of putting money into financial assets or other resources with the expectation of earning a profit or growing your money in the future.  Before doing this, there’s a few things you need to know.  This is a VERY basic outline, we’ll deep dive these lessons in future posts.
    1. Risk Tolerance – Investing comes with the potential to lose.  You’ll hear it said, high risk, high return.  The flip side of this is high risk, lose it all!
      1. A very famous investor, Warren Buffet once said, “there are two rules to investing.  First, never lose money.  Second, never forget rule one!”
      2. How much risk are you willing to take?
    2. Choose your investments (Building your porfolio):   There are many different types of investments, including stocks, bonds, real estate, and small businesses.
      1. Stocks are bets on a company’s future success.
        1. There are two primary ways you can make money on this investment.
          1. Fellow investors believe this company will continue to do better and they’ll buy the stock, thus, increasing demand and lowering the supply available.  This will push the price up.
          2. The company you invest in pays back parts of it’s profits to shareholders (people who own the stock) in terms of a dividend and you can accumulate dividend payments over time.
        2. There are two primary ways to invest in stocks
          1. Bet on individual company’s
            1. If you believe a company is going to be successful in the future ie you see a bunch of your friends buying a certain company’s product – you can buy shares in that company
          2. Buy a bunch of stocks through index funds or mutual funds (ask your mother Jameson!)
            1. My recommended philosophy is buy the indexes.  The S&P 500 is a basket of 500 American stocks.  You are betting on the success of US Business.  As of January 2023, I think it’s still a good long term, set it and forget it bet!
        3. The Risk: You could lose your money if the value of the stock goes down.  If the company goes bankrupt, you could lose your total investment in that company.
      2. Bonds – Lending money to companies or governments
        1. Just like when you give put your money in a bank and gain interest, you can lend money to companies or governments for a set interest rate.
        2. Just like stocks, there are two primary ways to invest in bonds.
          1. Buy direct:  You can buy bonds from the government direct or you can buy company bonds through a brokerage account.  
          2. Through a basket of bonds through Exchange Traded Funds or managed Mutual Funds.
            1. This spreads your risk so you aren’t at the mercy of one company or government.
        3. The Risk: A company or government could “default” on their debt and you lose the money you lent to them
      3. Real Estate – Investing in real estate involves the purchase, ownership, management, or sale of real estate property for the purpose of generating a profit.  (I’m purposely keeping this simple for the blog post here!)
        1. There are several types of real estate investments, including residential properties (such as single-family homes and apartments), commercial properties (such as office buildings and retail spaces), and raw land. Each type of investment has its own set of risks and potential returns.
        2. There are 2 common ways to invest in real estate when you are getting started
          1. Buy a property and rent that property out for a dollar amount higher than your monthly expense to own and maintain
          2. Buy a property that you think could sell for more than you are buying it for, especially if you make improvements to the property.
        3. The Risk: You could be stuck holding onto and paying into a property that isn’t making money and losing you money
  4. Debt Management
    1. It’s inevitable that you are going to accumulate debt at some point in your life.  This could be student loans, car loans, mortgage, credit cards, etc… Here’s a few steps to manage that debt and hopefully, pay it off!
      1. Make a list of your debts: Gather all of your bills and statements and make a list of your debts, including who you owe, interest rates, and minimum monthly payment for each debt.
      2. Prioritize your debts: Consider which debts are most important to pay off first. For example, you may want to focus on high-interest debts or debts with late fees first.
      3. Create a budget: A budget can help you understand your income and expenses and identify areas where you may be able to cut back on spending. Use your budget to allocate funds towards paying off your debts.  Of course, remember savings, pay yourself first!
      4. Make more than the minimum payment: Pay more than the minimum payment on your debts each month, if possible, pay it all off! This can help you pay off your debts more quickly and save on interest.

Book Review – The Rise and Fall of the Third Reich by Willam Shirer

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The Rise and Fall of the Third Reich is a comprehensive and engrossing historical account of the Nazi regime in Germany. Written in 1960, just 15 years post war, by William Shirer, a journalist who covered Germany during the time period. The book offers a firsthand perspective on the events that led up to World War II and the fall of the Nazi Party. It’s intense, long and not for the faint of heart. It’s also a necessary read for anyone that wants a detailed understanding of how a man, hitler, his party, the Nazi Party and an ideology, racial purity led the world into its deadliest war, ever (est 50+ million).

This book is not for the faint of heart. It’s a very long deep dive that is meticulous in it’s research and attention to detail. Shirer draws upon a wide range of sources, including primary documents, interviews, and published works, to provide a well-rounded view of the events of the time. I think what the book does a great job at illustrating is what happened to humanity during this time period.

The book does a great job at answering the following questions:

  • How did Hitler rise to power?
    • Shirer discusses the various factors that contributed to Hitler’s rise to power, including the economic and political instability in Germany following World War I, the propaganda and messaging used by the Nazi Party, and the weaknesses and divisions within the German government.
  • What was the Nazi Party’s ideology and how did it appeal to the German people?
    • The book delves into the ideology of the Nazi Party, including their belief in racial purity and the idea of the “Aryan master race,” and how these ideas were used to justify their actions and appeal to the German people.
  • How did the Nazi Party gain control of the government and implement their policies?
    • Shirer discusses the various tactics used by the Nazi Party to gain control of the government, including the use of violence and intimidation, and the ways in which they were able to manipulate the legal system and suppress opposition. He also covers the implementation of their policies, including their persecution of minority groups and the expansion of their territory through military conquest.
  • What was the role of other key figures in the Nazi Party, such as Joseph Goebbels and Heinrich Himmler?
    • The book covers the roles and responsibilities of other key figures in the Nazi Party, including Goebbels and Himmler, and their contributions to the party’s policies and actions.
  • How did the Nazi regime eventually fall and what were the consequences of their actions?
    • Shirer also covers the events leading up to the fall of the Nazi regime, including the Allied victory in World War II and the subsequent trials of top Nazi officials, as well as the long-term consequences of their actions, including the loss of life and the devastation caused by the war.

It details the various atrocities committed by the Nazi regime against the peoples of Europe during World War II. These include the Holocaust, in which millions of Jews, Romani, homosexuals, and others deemed undesirable by the Nazis were systematically murdered in concentration camps; the invasion and occupation of various European countries, including Poland, France, and the Soviet Union, which resulted in widespread destruction and the deaths of millions of civilians; and the forced conscription of millions of people into the German military or into forced labor camps.

There are several lessons that a person in 2022 could learn from reading The Rise and Fall of the Third Reich by William Shirer. Some potential examples include:

  • The dangers of authoritarianism and the importance of maintaining a healthy democracy
    • The rise of the Nazi Party and their eventual takeover of the German government serves as a cautionary tale about the dangers of allowing an authoritarian regime to gain power. The book illustrates the ways in which the Nazis were able to manipulate and control the population through propaganda and fear, and the consequences of this for the country and the world as a whole.
  • The importance of speaking out against injustice
    • The book also highlights the bravery of those who resisted the Nazi regime and spoke out against their actions, even at great personal risk. This serves as a reminder of the importance of speaking out against injustice and the power of individual action to make a difference.
  • The dangers of extremism and the importance of promoting tolerance and understanding
    • The Nazi ideology of racial purity and the atrocities committed against those deemed undesirable serve as a reminder of the dangers of extremist thinking and the importance of promoting tolerance and understanding between different groups of people.

How would you explain Baseball to an Alien?

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Baseball is a game played between two teams of nine players each. Each team takes turns batting and fielding. The batter stands in the batting box and tries to hit the ball thrown by the pitcher from the other team. If the ball is hit, the batter runs around the four bases in a counter-clockwise direction to score a run. The team with the most runs at the end of nine innings (when each team has had a chance to bat and field) is the winner. 

The teams that are in the field are divided into two groups. The first group is the infielders. Infielders are positioned around the inner edge of the diamond-shaped playing field. They include the pitcher, catcher, first baseman, second baseman, shortstop, and third baseman. The second group is the outfielders. Outfielders are positioned around the outer edge of the diamond-shaped playing field. They include the left fielder, center fielder, and right fielder. The third group is the designated hitter. The designated hitter is a player who bats in place of the pitcher.

The game is timed by Innings.  An inning is a rotation of both team fielding and batting.  The home team bats in the second half of the inning and the away team bats in the first half of the inning. In the course of an inning a team bats until there are 3 outs. A batter or player is deemed out when a defender gets the ball to another defender prior to an offense player reaching a base or a defender catches the ball after a hit prior to the ball touching the ground. Three outs in an inning ends a team’s chance to score, and three strikes on a batter also results in an out. A strike is called when a batter does not swing at a pitch and it is within the strike zone, while a ball is called when a pitch is outside the strike zone. A strike is also when a player swings at a pitch and misses.  The opposite of this is a ball (not to be confused with the object that’s thrown around).  If a pitch is thrown outside of the agreed upon zone, the batter is rewarded with a free look.  If a batter has 4 of these, they go to first base without having to make a hit.  

Baseball is a game full of nuance and outlying strategies.  Here are a few things you could see in every game.  

  • Stealing bases – A runner can attempt to advance to another base if the pitcher does not throw the ball in time. 
  • Force outs – When a runner is on a base, a fielder can force the runner out by throwing the ball to the base the runner is attempting to reach. 
  • Hit and run – The hit and run is a strategy where the runner attempts to advance while the batter attempts to hit the ball. 
  • Bunting – Bunting is an offensive strategy where the batter attempts to hit the ball in a way that it rolls slowly toward the infield, allowing the runner to advance. 
  • Pitching – Pitchers are able to throw the ball and have the ball do different movements.  They could throw it super fast and straight.  They can make the ball curve.  They can make it move without rotations.  All of these movements are designed to confuse the batter.

Baseball is also a game of numbers and stats.  A few statistics regularly followed are below.

  • Batting Average (BA): The number of hits divided by the number of at-bats. 
  • On-Base Percentage (OBP): The percentage of the time a batter reaches base safely, regardless of how he got there (hit, walk, hit by pitch, etc.). 
  • Slugging Percentage (SLG): The total number of bases (singles, doubles, triples, home runs) divided by the total number of at-bats.
  • On-Base Plus Slugging (OPS): The sum of a player’s on-base percentage and slugging percentage. 
  • Earned Run Average (ERA): The average number of earned runs a pitcher allows per nine innings. 
  • Walks Plus Hits Per Innings Pitched (WHIP): The average number of walks and hits allowed by a pitcher per nine innings. 
  • Strikeouts Per Nine Innings (K/9): The average number of strikeouts a pitcher has per nine innings. 
  • Win-Loss Record (W-L): A pitcher’s total number of wins and losses. 
  • Quality Start (QS): A start in which a pitcher goes at least six innings and allows three

Baseball is popular in many countries, especially in the Americas. In particular, it is a popular sport in the United States, Canada, Japan, the Dominican Republic, Cuba, Mexico, Puerto Rico, and Venezuela. It is also popular in several countries in Central and South America, as well as in some countries in Asia and the Caribbean.  I hope this primer will help you understand this beautiful game.

5 Books that have greatly influenced my life

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It’s often said the average CEO reads 60 books a year, while the average worker reads less than one!  I don’t know if this is true or not, but personally, I try to read or listen to 25 – 30 books a year.  I wish I could do more, but alas, time doesn’t always permit me to.  The 5 books below have influenced my life and how I think.  I could make this list 10 – 15, but for the interest of time, I’ll keep it pared to 5!  Next time I’ll create the 20 books that everyone should read.  Until then, please do yourself a favor and check one of these out for your next read.  

Side note, the links below are not affiliate links, I don’t make a commission for checking these out.  Seriously, they’re just great books!

Atomic Habits – James Clear – The 1st law (Cue): Make it obvious. The 2nd law (Craving): Make it attractive. The 3rd law (Response): Make it easy. The 4th law (Reward): Make it satisfying.

Tools of Titans – Tim Ferriss – Tidbits of information from Tim’s long form interviews on his podcast in the areas of Health, Wealth and Wisdom.  Tim’s podcast was my gateway drug into podcasts and was instrumental in how I think about learning and asking quesitons.

David and Goliath – Malcolm Gladwell – There’s always a story behind the story and Malcolm teases these out like no other.  For example, did you know that shepherds were experts with slingshots?!

Kitchen Confidential – Anthony Bourdain – This book taught me that butter and fats make everything better.  It also gave me a whole new perspective on food, chasing goals and grit.

When Genius Fails – Roger Lowenstein – The first hedge fund that failed and was saved by the government, in my life, was Long Term Capital Management.  The smartest people in the room were right all the time, until they were wrong.  Ego is the enemy (which would also be book 6, but this list stops at 5!)