11.18.08
Posted in Book Reviews at 6:15 pm by BartonG
The year of living biblically is a memoir of AJ’s attempt to live the Bible as literally as possible. It starts off quirky, warm and light when it comes to the Bible stuff. Like another another book by AJ Jacobs, Know it all, you get to know his sense of humor and mild neuroticism - plus he get’s all factoidal with Bible trivia. What’s not to like about an easy read like this?
One of my favorite anecdotes is AJ’s dealings with shatnez tester, Mr Berkowitz. A shatnez tester by the way, is an orthodox Jewish man who inspects clothing to make sure you aren’t breaking a bible commandment by wearing clothing made from mixed fibers.
AJ further meets with Christian creationists, the Amish, and Samaritans. It’s a fun, popcorn travel of Bible believing religions.
My only gripes is that for a man who tries to live as Bible literally for an entire year, he remains remarkable unaffected by the whole ordeal. On the volume knob of conversion, he ends up one and a half degrees past agnostic. Maybe this just reflect his tepid New York spirituality, but it’s kind of depressing that he just became a marginally better person. It just goes to show - AJ was out to make an entertaining book (which he did) and not true religious adventure. It’s like the slow moving teacup ride at Disneyland vs Space Mountain.
Again, not really a soul searching book, but an enjoyable read if you like the subject matter.
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11.04.08
Posted in Uncategorized at 10:10 pm by BartonG
Here’s the deal. If you own a cell tower, or a really tall building, cellphone companies may want to lease out space on said tower to add an antennae. Cell companies pay about $20,000 a year for antennae rent. Totally sweet money, right?
My brother and I discussed what, if any, opportunity exists for the enterprising to make money from cell towers. After some research, my opinion is that there is very little opportunity - in terms of buying/building a cell tower.
Here’s why. Cell companies already know where they need have a cell site. You don’t. If that’s lands open to buy, they can buy without you. If you happen to own it, they’ll contact you to work something out. IF you’ve already been contacted (or own a cell tower and your cell tenants are seeking a re-negotiation) you need professional advice. I’d suggest www.steelintheair.com.
If you own a cell tower, maybe you can go to cell carriers and try to get them to put up an antennae. This is not a walk in the park.
Becoming a cell tower owner is also not so easy. People who have towers up with leases may sell out of the leases early for a lump sum, if you’ve got the capital you could go that route. Still, you’ve got to find someone who wants out. Not that likely. Due to the prohibitive cost of building a cell tower ($100,000 - $150,000), it’s not an easy “investment” to try on faith and hopes. The “if you build it, they will come” maxim doesn’t work here. The demand has to be there.
However - here’s an angle you can try. If you are in charge of university buildings, construction of high rises, etc … you may have a potential cell cite. Contact corporate cell provider’s unit that is in charge of that sort of thing and see.
Just thought you should know.
Resources:
http://www.privateline.com/Cellbasics/leasinginfo.htm
http://www.privateline.com/Cellbasics/cellsiteleaseprocess.htm
http://www.squidoo.com/build-a-cell-tower
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09.23.08
Posted in Musings, Uncategorized at 9:38 pm by BartonG
Fortune favors the bold. - Virgil
I’ve been pondering the fleeting nature of opportunities. Here today and gone tommorow. Somethings just won’t be the same if you wait. Take donuts, for instance. Fresh from the bakery, they’ll make you salivate. Wait a week and you’ve got a dozen new doorstops.
Lately, I’ve mused over some specific opportunities relating to two of my favorite subjects: women and money.
At a social event, a stunningly beautiful woman walks into the room. Time is of the essense - you may never see her again or given an hour or so, she’ll have 5-11 drooling dudes orbiting around her, creating an almost impenetrable sheild of suck-ups. Plus, instead of being the first guy to introduce yourself and ask her name, you’ll be the 54th of a possible 213 men she’ll see tonight.
Now I’m not trying to promote rash, dangerous and impulsive behavior here. I’m just illustrating the following:
The difference between pimpalicious and wussbag might only be a few minutes. So don’t be a wussbag - get some courage and go say hi!
With certain matters finacial, also note:
Obviously, only a certain subset of opportunites are subject to this effect. The key is to recognize what kind of idea it is and how far it’s moved on it’s life-cycle.
Hot stock picks are a good example. Some company grows explosively and clever traders make a ton a cash. By the time Money magazine and the like spout off on how great the stocks is, it’s probably only a mediocre buy. It’s too late. Green apples ripen, red apples rot.
After you know an opportunity is legit, take a risk and try it! When I heard of CashCrate, I was skeptical and held off for a while. When I finially did get into it, I noticed some shortcuts and exploits and made some decent money, but waiting cost me some easy money. Tricks, hacks and exploits are typically short lived, so it’s best to jump on board asap. As long as it’s ethical, I think you should take advantage of things and milk them for all their worth!
I remember making $35 bucks for 15 minitues of work as an impromptu baggage carrier at a hotel. A bus of asian folks pulled up to the hotel I was at and most wanted their luggage ported. Amidst the choas, I quickly walked up to the tour group directer when he stepped off the bus and said, “I can take some of their baggage.” He nodded and I hauled luggage. At the end of the deal, the tour group leader even tipped me.
Which brings me to my point.
Don’t be a wussbag.
All of us have flashes of insight and intuition, just don’t let your inner demons talk you out of it. You already know it’s a good idea to talk to the girl in your yoga class, put away money in your IRA, or call your great aunt Flow. Time is precious, when you get an impression - and if following it through won’t kill you - just do it. You probably have several ideas that are still viable, even though their old. If you’re not a risk taker, get your feet wet with those. Get around to the “I really should” list and move on to “seizing the moment” style opportunites.
When you’ve got a stomache for it, I think you’ll like it.
NOTE:
Post semi-inspired by the book, Blue Ocean Strategy.
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09.10.08
Posted in Uncategorized at 8:57 pm by BartonG
Beware: I’m not bashing nor advocating WFG, I’m just giving you my first hand experience and research.
So… a casual friend of mine said he’s training in WFG - the World Financial Group - and asked if he could come over. From our brief conversation, I pretty much guessed it to be the sales pitch. However, since I’m in the market for good salesmen, I told him to come over.
“J” my friend, and his trainer Brad show up to my apartment, both dressed nicely in blue collared shirts and charcoal pants.
After a brief hello, Brad whips out his clipboard with a form on it. The pitch has already started.
“What’s you’re name again? I’ve got a bad memory and I want to remember it.”
“Bart. Like Bart Simpson,” I say.
“Let me write that down … “, Brad writes my name down on the paper. “And your last name?”
I spell it out for him. At this point, my sales radar is fully alert. I used similar tactics while selling cars - you take the lead of the interaction and record information. If you flow well, full name, address and phone number come out of the potential buyer pretty easy. You build on successes and it seems natural to continue giving the sales guy the info. Brad asks for my wife’s name and what we do for a living.
I don’t have any particular problem with it, and go along.
Brad asks casually about my hobbies and then open the scope of the question and asks what kind of life goals I have. Travel, writing a novel, climbing Everest - that sort thing. He records my answers.
About halfway down the page, he introduces WFG. Basically, Brad regurgitates -
” World Financial Group is a megahuge company that helps people financially. The thing is that the big investment companies, Merill Lynch, ING, etc, don’t really deal with you unless you have a ton of money. But WFG helps you and me, the little guys, achieve our wildest dreams and goals, just like the ones you have previosly mentioned.”
At this point, I’ve gone to sales resistance DEFCON level 4.
“WFG has recently been bought by AEGON, an ultra-megahuge company. It allows us to have access to all sorts of products and services. When you work with, Vanguard, for instance, they only sell their Vanguard stuff. Fidelity only sells their funds, etc. But, heck, we’re humintarians - WFG works help middle class guys like you and me to move from dream to doing.
Anyway, AEGON has a large network and allows us to find things that are right for you. In fact, AEGON is a 36 billion dollar company. That’s more than Nike, Marriot, McDonalds and Starbucks combined. They’ve been around for about 100 years, so it’s nice to know that the people who help you with your money have been around a long time and aren’t going anywhere. Now, I don’t say that to impress you, but its good to be able to trust a company with so much strength.”
Secretly, I already know this is mind-warping sales spewdum, and I could care less. Just because a company is big or old doesn’t mean it’s good. IN FACT, AEGON is primarily an insurance company. I personally think that insurances are necessary evils and that insurance companies kinda screw you. I used to sell life and health insurance, so I’ve kind of looked into it.
Brad continues,
“Do you know what the rule of 72 is?”
“Yes.”
Brad, incredulous, asks “Well what is it?”
I don’t use it on a day to day basis, but I remember the basics.
“Basically its a way to calculate how money compounds and how long it takes for money to double.”
Brad plows through.
“Apples to apples, lets compare how much money someone would have if they put their money in the bank, versus a better investment. Banks give you maybe 2% in a savings account- and you know what they do? They turn around and loan out that money to others. Over the life of your loan the bank will make over a million dollars on your money - plus you spent THREE TIMES more to buy your home. ”
Brad then gives me a 20 minute lecture that boils down to, “Invest money at higher rates.” Brad does however, sprinkle in a few gold nuggets from WFG. If you’ve never seen the magic of compound interest it’s pretty exciting.
- Informs me that rich people aren’t any different than us folk, it’s just that they’ve been taught about money. “This is how rich people become wealthy.”
- Claims that WFG has some investment products that guarantee 7%, but also get to benefit from bull market upswings that sometimes raise that percentage.
- Tells me about my future home being “a dead equity bucket” due to the fact that my house isn’t making me any money. The only thing it’s doing for me is letting me live there.
- Shows me that if I do a specialty loan, which WFG can provide because they’re all hooked up with bazillions of people, I can do a (basically) interest only loan for smaller payments and invest the rest with WFG. After a short time, I can pay off my house early and have $450,000 accumulated. (Based on his elusive investments and an origional $1300 house payment).
Now my question at this point is, “That’s all swell and good, but what’s your investment vehicle. What’s getting you the 7 percent? Spell it out for me. I still don’t totally see what WFG does?”
That’s when they say, “Oh Bart, we’ve got to run. You need to come to our meeting on Tuesday and the master plan will be laid out there.”
J tries to commit me with, “Bart, will you be there at 7:00?”
Brad jumps in, “Oh, and come business dress.”
I respond, ” No. I don’t see a reason. What does WFG do? I’ve done 11% in my portfolio, but I’m always interest in legit opportunities. I have no idea what the WFG opportunity is. Why should I come?
Frustrated, Brad says, “If we told you everything, you wouldn’t have to come!”.
Opps, Brad slipped up on that one.
I finish up by saying, “Listen, here’s my email. Tell me CLEARLY why I should go. You haven’t really taught me anything. I don’t see the WFG “opportunity”. And if I do show up, I’ll show up to the meeting however I damn well please.”
J comments, “Well … they might not let you in and stuff…”
Summary
I was insulted by the whole pitch. I have been educated about money. I know how the rich become and stay rich (one of the biggest factors other than inheriting money is to have high income jobs or businesses). The short real-estate examples the two reps shared with me clearly demonstrated their lack of knowledge. After a bit of grilling, it became obvious that I had a much larger net worth than they did combined. I’m not rich mind you, but I stick to the plan’s laid out in books like “The millionaire next door” and “The wealthy barber”.
After snooping on the net for a while, it seems that WFG sells variable annuities, variable universal life, etc - basically life insurance with an investment wrapper. Also, if you don’t have cash to buy their products they bring you on as an associate, who then can recruit people, get licensed and sell their products. Apparently there is a multi-level marketing thing going on where you get percentages of your downline - people who sign up beneath you.
On the net, WFG gets a bad rap. Maybe it’s deserved, maybe it’s not. Just google “WFG” and 4 of the first 5 links are like, “WFG: don’t mess - scam”. It doesn’t bode well for them, but just because you read it on the internet doesn’t mean its true.
Typically, people will defend and attack WFG with specious arguments and horrible spelling. There are a few place where fairly educated people discuss the pro’s and con’s of the investments that WFG guys typically sell, like this discussion on variable annuities. However, most of the “discussion” is like this:
First of all,WFG is not a scam! Let me ask a question. Do you think that Aegon which owns WFG, is woth over 400 billion dollars from collecting $100 backround check fees from potential associates? Let me ask another question. Do you think working to make another man or company richer is a scam?
AEGON makes most of it’s money from insurance, not background checks. I agree there. But just because something is big and rich doesn’t make it good. Cough, cough. ENRON. Cough, Cough. I could go on, but it isn’t woth it.
World Financial Group is a scam, its the multi- pyramid system which invite people to spend their money and offer alot but none of those are truth. They just get you started for only 100 dollars and then kind of dissapear…
Dont make any mistakes !!!!!!!!
Oh yes, the dreaded multi-pyramid system. I hate it when my scheme only has one pyramid system.
I know that MLM is generally not well liked, but it doesn’t make it a “scam” per say. WFG sells products and services that you can judge on their quality. You want to buy mutal funds through them? Cool. You want to be recruited and trained to sell them? Alright. Do you want to make money by recruiting others? Okay. So what? Sounds like work to me, but I better be careful never make any mistakes.
That goes for you, too. For the rest of your life, don’t ever not be perfect.
Ask questions and ask them to show you how they made there money and to be honest, they tell you that you will be rescued from the government and you can quit your job, that would be a mistake, it’s a pyramid and they want you to be there fool and they get all the money in the end. They tell you that your doing a good job, they train you to lie.
I’m not altogether sure what this dude is saying, but I like it.
Did WFG force u to join the company. Wfg gives u the opportunity nohing taking from u.If u cant make ur decision in this age i m sorry to say u.U cant do anyhing in ur life before blaming anyone just think about urself
Hmph.
It appears that WFG typically only pushes the Life/Health producers license (I think) because it allows you to sell their insurances and get commissions. Personally, I prefer taking financial advice from people who do fee only financial planning - ie: they charge a fixed amount for their advice (they have the series 7 securities license) no matter what you buy. It seems that in this situation, it’s in the advisors best interest is to help you buy the best investments, not just ones that generate a commissions for him.
Anyway, WFG is a direct marketer and churn and burns recruits (many recruits, many fallouts). Your “job” from WFG is selling and recruiting with a hybrid MLM structure.
A rather negative article from the respectable BloomBerg can be found here.
Anyway, that’s how the pitch goes.
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