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

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Aussie Stock Forum Sentifi Top themes and market attention on:

  1. jbocker

    jbocker

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    I must read the book. I enjoyed the movie.
    To me it was the discovery of the McDonalds brothers original burger bar and the efficiencies they had set up.. with the convenience to the customer being rapid delivery.
    I might be wrong but Kroc really discovered the real estate factor as a work around because he had problems dealing with one of the brothers? ...Ahh not sure ... I must watch it again
     
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  2. Darc Knight

    Darc Knight Investor not Trader

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    Yep, same book I read. Kroc bought the Store off the McDonald brothers.

    I read another analysis mid 90s saying McDonalds was now a Real Estate business :D

    They trimmed down their stores somewhere around 2000 I think.
     
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  3. Smurf1976

    Smurf1976

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    Contracts.

    That something is written on paper (or its electronic equivalent) either formally or informally does not mean it will necessarily occur.

    In order that any business plan, contract, planned response to a scenario, etc, actually takes place physically requires that:

    It is physically possible to do it in the intended time.

    Finance is available from whatever source.

    All necessary arrangements have been made.

    Required approvals from any government or other authority have been obtained.

    All relevant parties, including contractors and sub-contractors, actually intend and desire to implement it.

    None of those can be assumed simply because something has been written. It certainly wouldn't be the first time that a response plan or other document was produced with no idea as to whether or not it could be implemented in practice and with no intention of doing so anyway.

    That which actually exists is worth far more than that which is proposed. :2twocents
     
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  4. Darc Knight

    Darc Knight Investor not Trader

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    Favorite food Skate?
     
  5. Darc Knight

    Darc Knight Investor not Trader

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    Favorite drink Skate?
     
  6. Darc Knight

    Darc Knight Investor not Trader

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    Favorite song Skate?
     
  7. Darc Knight

    Darc Knight Investor not Trader

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    Favorite Book Skate?
     
  8. Skate

    Skate

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    @Darc Knight my favorite is Sco
    @Darc Knight I really don't have a favorite food but in a previous post I made a reference to Scottish food, I enjoy Scottish Food (McDonalds - my wife of 44 yrs restricts that treat to once a year) I love Chinese.

    I personally restrict my carbohydrates intake & I eat healthy - I was a vegetarian for the past 5 years (it was a life style choice) - I'm not a big meat eater - I tend to eat more protein.

    One of the larger retail stores that's I've owned was a supplier of Fitness Equipment & to be successful in that industry you need to project the correct image.

    Reformed vegetarian
    As a reformed vegetarian I may be able to pass something on that you may not know.
    1. Never wonder if a person is a vegetarian or not, you don't even have to ask - they will tell you.
    2. Vegetarian have a deep appreciation of Butchers because they kill the animals that eat our food.

    Skate.
     
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  9. Skate

    Skate

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    Scotch is an issue for me - I have it with ice but I know my limit. (I restrict my drinking to social gathering now)

    Skate.
     
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  10. Skate

    Skate

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    Favourite song
    "Don't eat the yellow snow" Frank Zappa

    Forgive me the lyrics are from memory
    I dreamed I was an Eskimo
    frozen wind began to blow
    under my boots and around my toes
    the frost that bit the ground below
    it was a hundred degrees below zero

    Don't be a naughty Eskimo
    save your money, don't go to the show

    and the northern lights commenced to glow
    and she said, with a tear in her eye
    watch out where the huskies go, and don't you eat that yellow snow

    Poet
    Frank Zappa would have made a great poet - died young & experienced a painful passing. (Frank Zappa is a acquired taste)

    Well worth a listen
    If I could have two favourite songs the other would be:
    Arlo Guthrie - Alice's Restaurant (the song goes for about 20 minutes)

    Skate.
     
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  11. Skate

    Skate

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    @Darc Knight like most I reader my fair share of books but if I could recommend one book for you it would be:

    The Richest Man in Babylon
    The Richest Man in Babylon by George Samuel Clason.

    Copyright
    The book is so old it's out of copyright - it was compulsory reading for Financial Uni Courses back in the 'good old days' of the USA.

    The book gives advice through a collection of parables set in ancient Babylon. I have given away quite a few copies to staff & friends over the years & I always received a thank you, some needed it explained.

    First principle
    If you understand the principle of paying yourself first it will set you up for financial freedom.

    Financial freedom
    Financial freedom allows you to live your life on your terms

    Parables
    The parables that you will learn are simple lessons in financial wisdom.

    Skate.
     
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  12. Darc Knight

    Darc Knight Investor not Trader

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    Yes, a good little Book Skate. A book of principles.
     
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  13. Skate

    Skate

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    @Darc Knight I've wasted a book suggestion, may I recommend another please.

    Fooled by Randomness
    Fooled by Randomness by Nassim Nicholas Taleb

    This book explains why some people are successful where others aren't so lucky.

    Skate
     
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  14. Darc Knight

    Darc Knight Investor not Trader

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    Yes I remember you recommended that in another thread. I searched online and found a summary of it. Certainly seemed a well researched and worthwhile read.
     
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  15. luutzu

    luutzu

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    Yea, it's a fascinating business. Would make a good case study I reckon.

    I think I got its annual reports from 1986. Before that the database the uni account I got didn't subcribed for... guess who'll be doing a financial study of Maccas soon? :D
     
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  16. luutzu

    luutzu

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    From the movie it was Kroc's second in command that figured McDonalds was more a real estate business than a simple fast food. But from Kroc's autobiography, I think he had a falling out with the guy some years later... and his explanation was that he wanted McDonalds to be more of a food business whereas the other guy wanted it to be predominantly real estate.

    So the guy quit, sold all his shares... and without saying, missed a fortune or ten as Maccas takes over the world.

    But beyond that, I don't remember much detail. I should re-read Lowe's book again actually.

    Also from the book, some contractor outside the industry figured out a way to quickly bag them chips but didn't patent it. I think he also discovered and manufactured how to dispense the sauce, but again failed to patent.

    If it was patented, he could license the two thing to the fast growing fast food industry and retire very happy.
     
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  17. Mitek27

    Mitek27

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    Hi, I recently turned 18 and have invested in some shares in ANZ. I wanted to also experiment with day-trading using about $1000 and was wondering if anyone could recommended any companies to do this in that have fluctuation or any techniques for this? Thanks
     
  18. Darc Knight

    Darc Knight Investor not Trader

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    You at or going to University Luu?

    Doing something in Accounting or Finance or something?
     
  19. captain black

    captain black

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    Great thread Skate, well done :)

    For me this is what a forum is all about. I answered a few questions Skate had on the Amibroker FAQ thread a couple of years ago and we've been in touch via email since then and I've enjoyed watching his progress to becoming a successful trader.

    It's always the hope that someone you help out comes back and not only helps others out but teaches you as well in the process. :)

    I'm sure anyone reading Skate's words of wisdom in this thread knows the knowledge I've imparted has been returned threefold.
     
  20. luutzu

    luutzu

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    No, was at uni a long time ago. Though got my sister's uni library access to to database before.
     
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