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Dump it Here

Discussion in 'Beginner's Lounge' started by Skate, Dec 17, 2018.

sentifi.com

Aussie Stock Forum Sentifi Top themes and market attention on:

  1. Skate

    Skate

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    Vale @pixel

    Respect
    I respected @pixel and remember him fondly. (I enjoyed @pixel's posts & ASF is poorer from his passing)

    Personal
    I re-post members TAG's & Dump it here, tags are sometimes a reflection of beliefs but all tags have a personal attachment.

    @pixel's TAG
    "DYOR! In life as in trading, I follow two rules that were inspired by Carl Sagan:
    (1) There are no sacred truths. All assumptions must be critically examined. Assertions from authority are worthless. (2) Anything inconsistent with observed facts must be discarded or revised. We must understand the World as it is, not confuse how it is with how we wish it to be"


    If I was considering using a tag it would be the last paragraph of @pixel's. (Words of wisdom)

    Personal endorsement (for what its worth)
    "We must understand the World as it is, not confuse how it is with how we wish it to be"

    Skate.
     
  2. Smurf1976

    Smurf1976

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    Which brings to mind a related point.

    When any business moves outside its area of competency, thinking that the same approach which has worked thus far ought to work in another market or industry, that's when major stuff ups tend to occur.

    The smart ones start with a small trial, typically making no fuss about it, and see if the concept is valid or not. An example of that would be the launch of a new product in a few country towns or in the NT or Tas to see if it sells or not whilst drawing no attention to it in the major cities.

    Those who jump in head first often lose serious money. Plenty have done that over the years especially with expansion offshore.
     
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  3. luutzu

    luutzu

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    Similarly, when a new CEO from a totally different industry takes over management of an established one. Say one from retailing takes over an engineering and construction business - and run it the same way as a retailer.

    Not saying that an able manager couldn't do it. But if they don't change or adapt priorities and such, things will start collapsing.

    Retreading a recent example from Theranos with its 19 year old Standford drop-out CEO starting a medical/healthcare company the way her idol Steve Jobs did Apple.

    Jobs, like most IT/tech guys, tend to bs about their system being ready. Get the contract and the cash to then cramp it up, debug as they go.

    Jobs also have that eye for design. What with that 1 single button to control everything on the iPhone.

    Theranos CEO just put a demand that the blood sample must be a few drops and be able to diagnose every disease and illness known to man. She eventually caved in to the "nanoTube" being only 1.5cm high.

    Why? Because it looks cool.
     
    Skate likes this.
  4. qldfrog

    qldfrog

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    I dis not realise @pixel passed away.a sad day.
     
    Skate likes this.
  5. Skate

    Skate

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    Volume Spread Analysis

    Calling all traders who use the concepts of VSA

    Concept
    If you use or understand the concept of VSA analysis & you have something to share would you please Dump it here for the educational value explaining why VSA works so others may understand.

    Richard Wyckoff
    Richard Wyckoff may have come up with the idea but Tom Williams coined the phrase "Volume Spread Analysis" to describe this unique method of analysis.

    Simple Explanation (How does VSA work)
    VSA focuses on price and volume and seeks to find the actions and movements of the bigger traders

    I personally find VSA difficult to master as traders interpret various VSA concepts differently making it difficult for me to grasp.

    Skate.
     
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  6. Skate

    Skate

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    Personal milestone
    I have now completed my 500th post & it's a personal milestone - it's a low post count compared to others (that's a given) but every post that I've made goes a long way to explain who I am.

    My Statistic

    I joined the ASF community on: 28th December 2013
    After 3 years of education I placed my first Trade on: 31st August 2015 (My first trade consisted in buying 10 positions)
    I started my first thread on: 17th December 2018 (long time lurker)
    The 'Likes' I've received: 434 (I have an attitude of gratitude for each I've received)

    A BIG thank you
    To each & every member that took the time to read my post, making me feel happy - thank you.
    To the members who have (& you know who you are) after reading my post have gone on to hit the 'Like' button - thank you.
    To the members who have engaged in this thread - thank you.
    To the members who have freely shared an experience or expressed an opinion here - thank you

    The end game
    If my posts affect your behaviour, I'm a winner - that's my end game..

    The 'Dump it here thread' is 10 days old today - it seems to me its been going a lot longer. (I'm fist to admit reading my thread is exhausting)


    ################ You can finish reading here as the rest of the post is nostalgia ################


    Recapping my First post
    Sometimes you feel like dumping stuff & this thread might be the perfect place.

    Helping Others
    You might want to dump stuff here to help others

    Unload
    You might want to unload & dump something off your chest

    Gems
    You might even want to dump some gems here

    Let it go
    Sometimes you can't let somethings go till you dump it on paper

    Dump it here
    If you want to dump it, dump it here

    Skate.
     
    Last edited: Dec 27, 2018
    Saqeeb and JimmyJames80 like this.
  7. Skate

    Skate

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    @Smurf1976 I 'Liked' your post & I wanted to draw attention to it by making an additional comment (other may have already read it already) but they may not have understood the business strategy & I encourage others to re-read it again.

    Skate.
     
    JimmyJames80 likes this.
  8. tech/a

    tech/a No Ordinary Duck

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    There are a number of threads on VSA
    already
    I will however make a comment on one which may help you Skate and others like you “grasp “ it
     
    Saqeeb and Skate like this.
  9. Skate

    Skate

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    @luutzu thank you for your post & I hang on your every word.

    I enjoy reading your posts & one thing that amazes me is how consistent your views are.

    Your consistency leads me to a 'segue'
    I always control the temp & direction of any conversation & I tend to change the topic so smoothly that people might not even notice (so see how I go this time)

    Personal statement
    I love Scottish food. (McDonalds - A business founded in 1940)

    I appreciate their business model & their food is consistent around the world - no wonder the business enjoys success.

    McDonald's business model
    1. Most don't realise the business model of McDonalds is not food - but Realestate)
    2. Most don't understand what McDonalds really sell & its not food - but Convenience)

    Skate.
     
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  10. Skate

    Skate

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    @tech/a I can't wait for you to tell me more..

    Thanks.

    Skate.
     
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  11. luutzu

    luutzu

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    Thanks for the kind words Skate.

    Great points about McDonalds.

    A quote from Ray Kroc - McDonalds' "founder" [or was it keeper?] - regarding success. Though I think, judging by the movie, he also stole this too... Or maybe he lived it so he owned it.

    The secret to success? Persistence.

    I know what you're thinking. How the heck does a 52 year old, over the hill, milkshake maker salesman build a fast food empire.... One word: Persistence.

     
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  12. tech/a

    tech/a No Ordinary Duck

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    Don’t know that you can sum things up in a word or two.

    I’m as persistent as anyone when it comes to golf
    My handicap doesn’t get much better!
     
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  13. Darc Knight

    Darc Knight Investor not Trader

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    I thought he just saw an emerging market or way of servicing a market and got a sort of first mover advantage?

    Sorry to interrupt your thread @Skate and @tech/a :) pls continue!
     
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  14. Skate

    Skate

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    You are so correct @luutzu - the first secret to success is Persistence & there are two others (IMHO) I explained it to @tech/a (Dump it here, Page 27 - Post #261)

    Lets recap
    For the benefits of others who have not read the entire thread.

    What does PHD mean ?
    Its an acronym explained below

    P
    ersistence, Hard-work & Determination (PHD)

    Skate said: @tech/a I have never met a successful business owner who didn't have these qualities & qualifications.

    Skate
     
    Last edited: Dec 27, 2018
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  15. luutzu

    luutzu

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    Maybe persistence in the context of working at it but try not to repeat what doesn't work? :D
     
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  16. Skate

    Skate

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    @Darc Knight you should never feel the need to apologise - your comments are always welcomed.

    Recap
    @Darc Knight I want to say a BIG thank you to you...

    To all the other members
    1. To each & every member that took the time to read my post, making me feel happy - thank you.
    2. To the members who have (& you know who you are) after reading my post have gone on to hit the 'Like' button - thank you.
    3. To the members who have engaged in this thread - thank you.
    4. To the members who have freely shared an experience or expressed an opinion here - thank you

    (The recap is from the Dump it here thread, Page 49 - Post #486)

    @Darc Knight I'm seeking to have this thread sound & feel different - by you being a participant with the others posters above you has achieved my desire.

    Skate.
     
  17. Skate

    Skate

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    @luutzu I wish I said that..

    @luutzu you have just added value to the meaning of the word Persistence & clarified its meaning for others.

    Well done & thank you..

    Skate.
     
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  18. luutzu

    luutzu

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    I read "McDonalds: Behind the Arches" by something Lowe [?]. While Kroc was among the first to move in on the fast food industry back then, his success was the ingenious way he go about benefiting both the franchisee, the customer and ultimately himself.

    There's the real estate business Skate pointed to. There's those thousands of innovation, fast service etc. that he/they introduced.

    But a big lesson I took away from it, and one I still hear are not being followed from not just the listed franchiser [Retail Foods Group? The one owning OZ Dunkin Donuts, Gloria Coffee etc... nearing collapse]... and a small time franchiser who's a son of a dad's friend... which they brag on a lot not realising that that's not how you make long term profit.

    Anyway... most franchisers back in Kroc's day doesn't care to do what he does. They just buy a state or major territory franchise and profit by selling regions off.

    Or they bulk buy the products/supplies, on sell to the franchisee at a mark-up... and doesn't care if those franchisee of theirs survive or not as their model was profiting from supplying to the franchisee more than the profit sharing.

    McDonalds profit by, one... getting the rent where the franchisee operates. That also help them control quality and operation, kicking out underperforming operators. IT also mean their people get to decide where it's best to operate a Macca. i.e. working class neighbourhood. And not over do the stores opening.

    So that provide the cashflow they need.

    Most important, they actually did not markup the supplies they sell to their franchisee. Letting them be profitable and that in turn make McDonald profitable and consistent.
     
  19. luutzu

    luutzu

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    Persistence... I also learn it from Homer [sptrawler] to "keep hammering".

    From the VNese proverb, roughly translated to "persistently grind away and metal can be turn to a needle"... Though the word metal and needle have two meaning... work at it and it'll turn to precious stone.

    Or the Chinese proverb, based on a true story, apparently... of a man spending his life digging away at the mountain until he moved it.
     
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  20. Skate

    Skate

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    @luutzu it was the lack of quality posts for the reason this thread lacked traction. (thank you)

    Members will read your post with interest, your posts never fail to engage.

    This leads me to a 'segue'
    I've owned multiple retail stores & many other business at the one time & if I may pass on a small piece of business advice that may help others. I'll give my advice using an analogy to the game of Pool.

    Business as in playing Pool
    The game is not sinking the ball, the game is all about lining up the next shot.

    Skate.
     
    Last edited: Dec 27, 2018
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