The Blog of Leon Apel

Updates from July, 2011 Toggle Comment Threads | Keyboard Shortcuts

• 

  admin 8:35 am on July 25, 2011 Permalink | Log in to leave a Comment  

  How to Cancel Unproductive In-Person Meetings 

  I’ve had no problem doing over 90% of my deals on the phone and over email. However, occasionally, I get the “in-person meeting request” and, from several empirical tests, I’ve found these to be mostly time-wasters, especially with prospective deals.

  The following is now my go to line:

  To be honest, I only like in-person meetings if they’re an absolute must or when there is a clear deadline or deal to tackle. I’m sure you’re a nice person . However, from a great deal of empirical data, email/phone is far more productive to assess new deals.

  At the same time, I definitely found industry events useful, especially in finding new opportunities, and strengthening relationships with existing partners.

   

  Reply Cancel reply

  You must be logged in to post a comment.

• 

  admin 8:15 am on June 30, 2011 Permalink | Log in to leave a Comment  

  The Future of Shopping is Buying Direct 

  1. Manufacturers are now be empowered by technological advances and can reach their target audiences far more efficiently and effectively.
  2. Therefore, the future of shopping will progress increasingly towards consumers buying directly from a manufacturer to be competitive.
  3. Manufacturers who think they can rely solely on a retailer, who marks up price 25-75% (or more), will be forced to adapt to secure market share.
  4. Virtually all brokers are the result of a temporary market inefficiency. Of course, brokers add value but in many cases streamlining processes and technology will create a more efficient marketplace
   
• 

  admin 6:39 am on March 11, 2011 Permalink | Log in to leave a Comment  

  Play Consistently and Competently to Succeed 

  Trying hard or trying to be smart are no substitute for doing it right. You have to play correctly/competently.

  A chess player who tries their best with brute force by working hard/long hours on learning the game through practice will not necessarily going to be a grand master.

  A chess player who has the most intelligence about the game will not necessarily become a grand master.

  A chess player who executes the optimal strategies with consistency is a more likely candidate to become a grand master.

   
• 

  admin 11:19 am on February 13, 2011 Permalink | Log in to leave a Comment  

  Bias Towards Extremity 

  Doom and gloomers have successfully predicted 500 of the last 3 recessions.  This is a humorous way of poking fun of the fact that soothsayers who predict extreme events may eventually be right but tend to inflate their projections.

  Results tend to be more moderate than expectations. People tend to believe or lean more towards extremities.

  What does this mean?

  • This is why some investors use strategies designed to take advantage of mean reversion–the tendency towards a price to revert to a historical average.
  • This is why people sell insurance because it makes sense, over a big enough sample of people, to cover the risk of extremities by studying the mean reversion tendencies of many behaviors. People demand insurance to be able to sleep at night and know they are covered in an extreme event.  Insurance makes sense for most individuals because they may not otherwise be able to cover a significant tail risk scenario. However, if someone knows that the odds are not stacked against them and they have sufficient resources, insurance may not make sense.
   
• 

  admin 11:37 am on January 23, 2011 Permalink | Log in to leave a Comment  

  To Learn Best, Write an Essay 

  This article is a must-read for anyone who wants to optimize their learning strategy: http://www.wired.com/wiredscience/2011/01/learning-methods/