JAC
24 December 2008 @ 09:18 pm
I'm angry and shaking still.

I almost got knocked down by a car whilst walking home from Killiney Kopitiam breakfast with my sis. It was at the crosswalk of Orchard Road turning into Orange Grove Road. In broad daylight. And I walked across slowly did not do the run-walk thing which makes it difficult to estimate speed. The car honked and screeched to a foot on my left as I jumped and semi-ran to the sidewalk. This middle-aged female driver with her mum glared at me whilst I screamed "ITS A CROSSWALK" at her. My sis who was a few steps behind me and saw the whole thing screamed the same. She sped off. One angmo guy with his kids who was walking down Orange Grove towards Orchard saw it too and went "She is crazy thats a crosswalk!"

B**** if I see you again I'm going to tell you what a disgrace of a driver you are. As it is I don't know why I didn't just open the car door and tell you that.
 
 
I'm feeling: angryangry
 
 
JAC
So we all know the 5 second rule. Or 3 seconds when in Singapore ( I think?)

Now read about whether food is really safe after having been on the ground and retrieved in 3 seconds...a very cool read.




 The Five-Second Rule Explored, or How Dirty Is That Bologna?  )
 
 
 
JAC
06 May 2007 @ 03:26 pm
Recruiters' Top 10 Complaints
Looking to blow your next job interview? Here are 10 mistakes you can make—and how to avoid them
by Alison Damast (Businessweek.com)

Caitlin McLaughlin, global head of campus recruiting for Citigroup Markets and Banking (C), will sometimes surprise MBA students by starting off an interview with a question that has little to do with their experience in the business world or as a student at their particular school.

She'll glance at the interests and activities section of their résumés and ask questions on subjects students expect recruiters to gloss over.

"I'll say, 'I noticed on your résumé that you are a Jimmy Buffet fanatic,' and it will be clear that the person forgot it was on there," she said. "You can see the look of panic spread across their face because they forgot."

Little Mistakes, Big Impact
Little slipups like this are the types of things that recruiters say can make the difference between making the right impression or the wrong one during a job interview (see BusinessWeek.com, 9/6/06, "The 'Do Nots' of Networking").

One thing most recruiters agree on is that MBA students are coming to job interviews more prepared and polished than candidates in years past. They are coached by their career services offices, have studied meticulously the employers, and have boiled their work and academic career experiences down to a carefully crafted script.

Even with all this preparation, there are a number of missteps students can make that can quickly shift the tone of the interview in the wrong direction, recruiters from top companies say.

We asked recruiters for specific advice about navigating interviews and sidestepping common mistakes. Here's what they told us:

1. Follow Interview Etiquette
Some of the most embarrassing moments are caused by blunders a student didn't anticipate. A cell phone ringing in the middle of an interview can be an unwelcome interruption. Whatever you do, don't stop to answer it or check the number, says Connie Thanasoulis, director of campus recruiting at Merrill Lynch (MER). Her advice: "Apologize, and immediately move on."

Etiquette requires students to shake the recruiter's hand before the interview starts and again at its conclusion. These are moments that could prove embarrassing if you have sweaty palms, a common byproduct of nerves and adrenaline. A simple way to solve the problem is to first brush your hand against your leg to dry it off, suggests Thanasoulis.

2. Keep Your Answers Short and to the Point
Recruiters will sometimes ask a question about a candidate's résumé and the candidate will ramble on—and on—for several minutes before getting to the main point. This can be trying for the interviewer, who is trying to learn as much as possible about the student in a short time. It can put the interviewer in an uncomfortable position, says Peter Sullivan, director of North American People Services for Booz Allen Hamilton.

"It is very difficult when someone starts diving into detail. It can be perceived as impolite to cut someone off," says Sullivan.

Try to keep your answers under a minute if possible. This gives the interviewer a chance to consider whether they want to ask the candidate to elaborate on the answer. "If the interviewer wants more details, they will ask for it," Sullivan says.

3. It's Okay to Be Clueless
Steve Canale, manager of recruiting and staffing services at General Electric (GE) likes to throw in questions that students might not have anticipated. For example, most students will talk at length with him about the company and why they want to work there, but will be thrown off when he asks them to name GE's current slogan.


Most students don't know this and will frequently stumble their way through the question. "Some people will look at the ceiling like God is going to come down and tell them, and other people will try to fake through it or get terribly embarrassed," he said.

The question can be an interesting test for Canale, who evaluates candidates by the manner in which they answer the question. He says that being honest about not knowing the answer is sometimes the best tactic. "Don't be afraid to say I don't know," says Canale. "I think that would be an area where everybody could improve."

Sometimes a student does know the answer to a particular question, but may have trouble answering it on the spot, says Thanasoulis, of Merrill Lynch. Her suggestion for dealing with nerves: Take a sip of water and ask for a minute to think about the question. "Regroup and say, 'I'm sorry about that,'" Thanasoulis says. "It's okay to say, 'Sometimes I get a little nervous, but I'm very excited to be here.'"

(By the way, GE's slogan used to be "We Bring Good Things to Life," but four years ago the company changed it to "Imagination at Work.")

4. Avoid Clichés.
It can irk a recruiter when students spend their allotted time talking about themselves in broad generalizations or clichés. Avoid common phrases such as "I'm a people person" or "I'm a creative person."

Instead, Booz Allen's Sullivan recommends that you come up with pertinent examples or stories that clearly illustrate your point. One young woman he interviewed convinced him of her leadership skills by telling him about her volunteer efforts at a church in an inner-city neighborhood. She helped several teenagers at the church learn about financial aid and college preparatory exams, and two of the teens she coached went on to become students at Duke University. The story stuck in his mind and helped her stand out among the other students he had interviewed.

"I now have a story I can then attach directly to her. It was compelling and it was going to get her remembered," Sullivan says.

5. Keep Negativity Out of the Conversation
Many MBA students are career switchers and are excited about transitioning to a job in a new field. Often students in this position will talk at length to a recruiter about why they disliked their old career. This can be a slippery slope, especially if you are talking to a recruiter who might be involved with that field. For example, a student who worked in consulting and is now switching to investment banking should be careful not to say anything negative about their old career, said Citigroup's McLaughlin.

"The problem is you don't know if the person sitting across from you may be a consultant," McLaughlin said. "You could be rubbing the person the wrong way. I always tell students stay away from anything that could be perceived as a negative comment."

6. Always Have Questions Prepared
Recruiters expect that students will use the interview as an opportunity to learn more about their company. Most end an interview by giving candidates an opportunity to ask a few questions. Don't take the easy way out, warns Sullivan, of Booz Allen. "When I ask a student, 'What questions can I answer for you?' and they say, 'I'm all set,' they've just failed."

Students should walk into the interview with a list of thoughtful questions that take advantage of the recruiter's knowledge of the company, Sullivan says. He recommends avoiding questions that can easily be answered by looking at the company's Web site, such as whether the company has a Boston office. "You should have three or four really good and insightful questions that show self-awareness that you are in front of someone who is pretty senior," Sullivan says.


It helps if the student uses the question as an opportunity to have a genuine conversation with the recruiter, says Jeff Vijungco, Adobe's recruiting director (ADBE): "At some point, it feels like the conversation evolves organically…. The best interviews I've found are the ones that don't even feel like an interview."

7. Keep Your Ego in Check
The temptation to impress a recruiter can sometimes get the best of students—and come back to haunt them later in the interview. If quantitative math is not your strong suit, don't pretend that it's your best subject. You could be sitting across from a derivatives trader who might want to put you on the spot, says Citigroup's McLaughlin. "Instead of making broad characterizations about your skill set, be more humble about your abilities," she says.

8. Don't Walk in Unprepared
Learn as much as you can about the person who is interviewing you and the company before the interview. Recruiters say they are sometimes surprised when they see a student has done little to no research on the company before the interview. "We've seen students that may not know the company or firm. Some may not have visited the Web site or attended a briefing on campus," said Angela Marchesi, MBA recruiting program manager at Deloitte.

In most cases, students know the name of the recruiter interviewing them in advance. Make every attempt to find out as much as you can about the person before you meet them, says Thanasoulis. Students should conduct Internet searches on the recruiter and try to find out anything they can about them from contacts they have at the recruiter's company. People who work at the company or spent a summer internship there can also prove to be valuable resources, notes Thanasoulis.

"They should exhaust every information source they can get to so they can know who they are interviewing with," Thanasoulis says.

9. Don't Talk in Absolutes
Students should avoid the temptation to tell a recruiter that their firm is the candidate's No.1 choice.

"A recruiter will hear that as 'I will accept your offer,' and it is understood that the company is your No.1 choice,' McLaughlin says. If the company later extends a job offer that the student rejects, the candidate may have damaged his credibility, she said. A safer approach might be to tell the recruiter that the firm is one of their top choices. This allows the student to express interest, but also leaves a little wiggle room, she says. "Saying something like that is a hundred times better than saying you are my No.1 choice and not being prepared to act on that."

10. Never Bring Up Salary
One mistake that can immediately take you out of the running is bringing up salary during an initial meeting with a recruiter. Adobe's Vijungco has seen several students this year who have used this year's strong job market as an excuse to ask him what they can make at the company.

"Sometimes there is a tendency for candidates to overemphasize the compensation piece," he says. "They talk less about 'how can I contribute to the company?' and more about "what can I make here?'" Students should equate an initial meeting with a recruiter with a first date, Vijungco says: "On a first date, you don't want to talk about marriage."

A recruiter can be drained at the end of a long day interviewing MBA students on campus. In most cases, they have been meeting with people from 8 a.m. to 5 p.m., seeing 13 or more candidates over a nine-hour period.

Citigroup's McLaughlin says that performing at the top of your game is essential in such an intense interviewing environment. "There is guaranteed to be somebody else, maybe several people, who did more than you did to get ready and shine during the interview," she says.

With those odds stacked against you, you'll want to do everything you can to come out on top. Avoiding these mistakes will help you keep in the running.
 
 
JAC
14 April 2007 @ 01:56 pm
Anyone willing to recommend his/her maid? The local ones, at something like SGD10-12/hour.

Job - clean the windows of my house, sweep and mop the floor. Thats it.

Let me know, thanks!
 
 
JAC
25 January 2007 @ 10:06 pm
I HATE CONFERENCE CALLS
 
 
I'm feeling: tired
 
 
JAC
25 January 2007 @ 01:02 am
You scored as Gryffindor. You have been sorted into Gryffindor! You're brave, loyal, and perhaps a little short tempered- if someone says or does something you don't like, you'll make sure they know- and everyone else too- regardless of the consequences.

</td>

Gryffindor

75%

Ravenclaw

60%

Slytherin

60%

Hufflepuff

60%

The Hogwarts Sorting Hat!
created with QuizFarm.com</tr>
 
 
JAC
12 January 2007 @ 05:05 pm
I need a professional looking passport photo now - as it'll go into resume books, my dive card....etc I actually do not have a single passport photo with me right now (even my firm does not have my pic and i've been with them for 3 years! During the annual reviews apparently they put up a cartoon pic instead of my pic. But I digress...)

Can anyone recommend a makeover + photo taking place?

DBS Women's card just sent out a brochure, and for S$68 you go to Glamour Studio at Suntec for 1x outfit, makeup, hairstyling; 10xpose shots for selection; choice fo 1 best shot in 1x4R and 8xpassport-sized with touch up.

Is this standard? It sounds kind of expensive to me, but then I don't know. I think I really need a good picture!
 
 
I'm feeling: sleepy
 
 
JAC
04 January 2007 @ 03:53 pm
The Harbus Online is the Harvard Business School's student newsletter. In their December edition, they published an interview with an alum under the Alumni Perspectives section.

Interesting abstracts from the interview...

I can recall one instance when, three years out of HBS, finding myself in an industry getting hammered by foreign competition, I was trying to identify career options. I contacted the HBS Placement Office for advice, but got no support. Two HBS alumni handed out referrals at an evening job change seminar. One was to a third HBS alumnus who advised me that an "HBS graduate" is not the same as a "Harvard MBA," in that the former lack the pedigree and connections to make the HBS degree pay off. He offered no other help. Another referral was to a fourth HBS alumnus who suggested he might interview me if I donated cash to the HBS Alumni Fund.

The need is for HBS to reengineer itself, from an operation that exploits its aura from the past and the earnest nature of young people to lure them in, then shoves them into a 2-year obstacle course while sucking their pockets dry before shoving them out and disowning them-to one that is in the business of providing real, ongoing support and care, over a period of time, to high-potential people who are trying to build careers against very great odds. Each student might reconsider whether his or her goals will really be met by two years at HBS, rather than assuming HBS is the premier choice for anyone with real smarts, aspiration and motivation. Alumni of every stripe might offer support and truth to students and those in early career, rather than the usual self-promoting, evasive pabulum.


His experience can be disputed as a result of the old way of doing things, but I still think its a reminder than an MBA is not everything. You can't let the notion that you're amongst the best ever get to your head.


Full text )
 
 
JAC
26 December 2006 @ 06:45 pm
Some intangible aspects of fit to me means:
- what the weather is like (I don't like darkness, daylight savings etc too much. Sends me to sleep. Ditto cold)
- how good the facilities are (some schools have bright lights, nice and cheery. Others are very grey and dull. you can tell by visiting schools)
- what the staff are like (some were really mean to me, some were super duper nice to me, a prospective student)
- students' attitudes (I had a school tour guide tell my group "I don't know why this is the case, the admissions office just told me to say that during my tours". You get my drift)

... )

Some more tangible aspects:
- rankings
- alumni network

... )

Some other factors which prospective students look at, but I didn't bother so much over are the following:
- Courses offered
- "Type" of school ie finance, consulting or marketing
- Salaries after the MBA

... )
 
 
I'm feeling: cold, still - when will it stop raining!
 
 
JAC
26 December 2006 @ 05:38 pm
One of my best investments has got to be investing the money and time in checking out all the b-schs I was interested in. Ok granted it was also a recover-from-work trip too, but I could have spent a lot more time playing if I had not done school visits - I spent a full day or more at each school.

So I knew I had about 5 weeks in the US, a whole bunch of schools to check out, not much time at all to prepare for this trip (I booked my tickets a week before I was going to leave thanks to work!) and people, schedules etc to meet.

Schools - I only wanted to go to a top school because of the high costs. Granted the lower tier schools would likely give me more scholarship money but name recognition is less. I visited a whole bunch of schools, but only finalised the list I was going to apply to after this visit and taking my GMAT. Low GMAT = no point applying to some schools.

My school visits )

I think its a big deal to the schools when international applicants make a point to visit the school - I totally talked about this in my essays. This isn't the reason why it was the best investment I made though. The reason is simply because - I would have chosen the "wrong" schools if I'd just looked at the school websites. Wrong in terms of fit - a vague term which all b-sch students use which I will try to clarify in another post on choosing the school for you. :)
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I'm feeling: coldcold
 
 
JAC
24 December 2006 @ 08:45 pm
Changed my LJ look...I think its now more "me"
 
 
JAC
24 December 2006 @ 05:12 pm
People say that the essays are more difficult than the GMATs, but I beg to differ. Except for the very FIRST set of school essays you write, the rest are generally ok.

GMAT was tough for me because - I'd not done A level math for a while (approximate standard) and I've never really learnt English grammar, I mean really, I learnt English just through speaking. I'd never picked up the logic or math behind it.

For more details... )
 
 
JAC
18 December 2006 @ 10:17 pm
Anyone know anyone working in LTA? I need to find out something from them and don't know who to approach.

Quite urgent.

Thanks.
 
 
JAC
04 December 2006 @ 03:13 pm
 
 
 
JAC
29 August 2006 @ 09:29 am
<tr><td colspan="2">St Petersburg Philharmonic Orchestra )
</td></tr>
<tr><td colspan="2">BBC Symphony Orchestra )
 
 
JAC
22 July 2006 @ 03:22 pm

Why Air Conditioner Thefts are Heating Up

Just another reason to curse the hot weather: thieves are mining AC cooling coils to sell on the black market
By VERNA GATES/BIRMINGHAM (Time)
Posted Friday, Jul. 21, 2006

It's hard enough staying cool these days, what with heat indexes topping 100 degrees around the country. But it doesn't help that a growing number of petty thieves looking to capitalize on rising copper prices are stripping air conditioners to sell the cooling coils on the black market.

At Earl Dudley Associates in Birmingham, Ala., 10 fans do little to tame the 97 degree heat. Last weekend, four of the surveyor supply company's air conditioning units were mined for their copper coils. Six other businesses on their block languish with open doors, waiting for their air conditioner replacements. "I'd just like five minutes alone with the guys who did it," says sales manager Mike Smith, as he wiped sweat from his brow.

While the copper coils that were stolen were worth about $1,200 in the scrap market, Smith's company will spend $29,000 on replacement ACs. The crime took 30 minutes; it will take a full week to fill out insurance forms, rent cranes and replace units.

In Dallas, such thefts have doubled over the last year, according to the Dallas Police Department, up from 113 to 282 so far this year. Five detectives working metal thefts are overwhelmed by the increase, according to police spokesperson Donna Hernandez. Dallas' Dalco Air Conditioning & Heating Co. has replaced units at a pizza parlor and a struggling Baptist church. The two crimes total $30,000 in damage.

It's not just ACs that are the targets of the metal thieves. Plumbing pipes, electrical wires, mail boxes and even copper urns decorating graves are all fair game. Even the Alabama Environmental Council's recycling center in downtown Birmingham was a victim of a recycling crime. The center's lone bathroom was stripped of copper pipe, spewing gallons of water out during drought restrictions on water usage. Fortunately, a homeless man cut off the water. Still, the $12 worth of copper mined from the sink cost the small non-profit $800 in repairs.

The most vulnerable seem to be new properties. Thirty half-built homes in a new development bordering the Renaissance Ross Bridge Golf Resort in Birmingham have lost copper plumbing pipes. Thieves are snatching metals in daylight on job sites. "We put it in on Monday and had to replace it by Wednesday," said Matthew Graves, production manager for Mainline Heating & Air Conditioning in Birmingham.

And with copper prices at a nearly two decade high, the criminals plundering anything and everything they can get their hands on are even risking their lives. Larry Dory, 45, of Dallas was killed July 14 while trying to strip live electrical wire off a utility pole. In additon to the 240 to 460 volts in air conditioners, potential dangers include the inhalation of Freon, a refrigerant illegal to release into the atmosphere. "That's a crime in and of itself with the EPA," said J.D. Points, vice president of Dalco.

Prosecuting these acts is not easy. One problem is the inability to track copper parts and tie them to an offense. Hernandez recommends spray painting or etching copper pipes for identity purposes. Meanwhile, companies like American Scrap Metal in Dallas check photo IDs and turn away scrap that looks too new. Birmingham's Standard Heating & Air Conditioning Co. and Dalco are even starting to attach alarms to AC units. That may sound drastic, until you realize that in the South air conditioners are a life or death issue. "Without air conditioning, nobody would live in this hell hole," said Points.

 
 
JAC
26 May 2006 @ 12:55 am

His hello was the end of her endings

Her laugh was their first step down the aisle

His hand would be hers to hold forever

His forever was as simple as her smile

He said she was what was missing

She said instantly she knew

She was a question to be answered

And his answer was "I do" 

 
 
I'm grooving to: SATC - Season2Episode19: The Chicken Dance
 
 
 
JAC
Very interesting article on cultural death.

The Shaman from Harvard - Wade Davis in interview )
 
 
JAC
16 April 2006 @ 09:19 pm
Shout out to [info]1ntrovert who bought Tahina from Dubai for me, though I didn't even request for it!

Very sweet of you to have remembered my desperate search for it dude :)
 
 
JAC
NY Times: Economic Scene

Polygamy and the Marriage Market: Who Would Have the Upper Hand? </nyt_headline>
By ROBERT H. FRANK
Published: March 16, 2006

MOST people believe that consenting adults should be free to do as they please, provided they do not cause unacceptable harm to others. The difficult question, of course, is what constitutes unacceptable harm. The debut on Sunday night of "Big Love," the new HBO series about a polygamous fictional family in Salt Lake City, has touched off renewed debate about this question.

Barb, Nicki and Margene, the three heroines of "Big Love," chose to marry Bill Henrickson, a successful businessman able to provide generously for their extended family. Mr. Henrickson chose to marry them. Should society outlaw such arrangements because they cause unacceptable harm to others? If so, who is harmed, exactly, and how? Economic theory, it turns out, has interesting things to say about these questions.

The traditional argument against plural marriage is that it harms women, particularly younger women who may be coerced to enter such marriages. Needless to say, society should prohibit forced participation in any marriage, whether plural or monogamous. But mature women who freely choose plural marriage reveal a preference for that arrangement. So if plural marriage harms women, the victims must be those who prefer monogamy.

It is easy to see how some of these women may be harmed. In a monogamous world, for example, Barb's first choice might have been to marry Bill, who would also have chosen to marry her. But with plural marriage permissible, Bill might prefer to marry not just Barb, but also Nicki and Margene. Barb would then have to choose between two lesser outcomes: a continued search or a plural marriage not to her liking.

Of course, the mere fact that allowing plural marriage may eliminate attractive options for some women does not imply that it imposes unacceptable harm on women generally. Suppose, for example, that if polygamy were legal, 10 percent of adult men would take an average of three wives apiece and that all remaining marriages would be monogamous. Among aspiring monogamists, there would then be nine men for every seven women. The law of supply and demand applies no less to social relationships than to ordinary commercial transactions. With an excess supply of men in the informal market for monogamous marriage partners, the terms of exchange would shift in favor of women. Wives would change fewer diapers, and their parents might even escape paying for weddings.

What about men? Here, too, plural marriage would clearly benefit some. After all, there are surely other men like Bill Henrickson of "Big Love" who would not only prefer multiple wives, but also be able to attract them.

But what about those who prefer monogamy? Permitting plural unions would, as noted, create an imbalance of men over women among monogamists. With so many formerly eligible women no longer available, the terms of exchange would turn sharply against men (as happened recently in China as a result of female infanticide). Many men would fail to marry at all.

In short, the logic of supply and demand turns the conventional wisdom about plural marriage on its head. If the arrangement harms others, the most likely victims are men, not women.

This conclusion is reinforced if we take account of the costly, and mutually offsetting, jockeying for position associated with men's attempts to win the attention of scarce women. The inherent wastefulness of such "positional arms races" is vividly illustrated by examples from nonhuman animal species.

The overwhelming majority of such species are polygynous, meaning that some males take more than one mate. Since having multiple mates is extremely advantageous in Darwinian terms, males typically battle one another ferociously for access to females. Size often decides these battles, so males tend to be considerably larger than females in polygynous species.

Some bull elephant seals, for example, are more than 20 feet long and weigh more than 6,000 pounds (about as much as a Lincoln Navigator), whereas females are typically less than 12 feet long and weigh about 1,500 pounds. Natural selection favored larger males because the winners of the long and bloody battles between males often command nearly exclusive sexual access to harems of more than 50 females.

But although being bigger than one's rivals is clearly advantageous for large seals, they are also less mobile and hence more vulnerable to sharks and other predators. Relative size, not absolute size, governs the outcomes of fights, so it would clearly be better if each male were only half as large. All fights would be resolved as before, yet all males would be less vulnerable to predators. Unfortunately, however, seals have no practical way of curtailing the arms race that makes them so big.

Permitting plural marriage in human societies would unleash competitive forces analogous to those we see in other species. With women in chronically short supply, men would face even more intense pressure than they do now to get ahead economically, to spend even longer hours honing their abs. More men would undergo cosmetic surgery. Expenditures on engagement rings would rise. Valentine's Day bouquets would be two dozen roses, not just a dozen. Yet no matter how valiantly each man strove, the same number would be destined not to marry.

Unlike other animal species, human societies can employ the power of law to constrain such positional arms races. In addition to whatever other purposes they may serve, laws against plural marriage may function as positional arms control agreements that make life less stressful for men. And this may help explain their appeal to the predominantly male legislatures that enact them.

Robert H. Frank, an economist at the Johnson School of Management at Cornell University, is the co-author, with Ben S. Bernanke, of "Principles of Economics." E-mail: rhf3@cornell.edu

 
 
JAC
03 March 2006 @ 02:15 pm

By Heidi Dawley
Feb 13, 2006

We've all heard it before. Our mothers and fathers told us, as theirs had told them before. Money does not buy happiness. But just how much you heed them could well determine how happy your life is. According to a new research report, once a person is making $45,000 a year, any additional income makes very little difference to that person's happiness. 

In fact, the report, which originates from an investment bank, of all places, finds that focusing on material gains makes it harder to find happiness. What's more it's actually bad for a person's mental health.  "The evidence reviewed here suggests that materialistic pursuits pose a significant stumbling block on the path to happiness," writes James Montier, a global equity strategist at Dresdner Kleinwort Wasserstein in London. "The more people aspire to materialistic goals, the less satisfied they appear to be with life, and the greater the risk that they may develop mental health problems."

It may seem a bit odd for an investment bank to be issuing reports on this subject, but the idea is to understand the psychology of money. As such, Montier has produced this report, his second on the subject, after reviewing a breadth of international studies on the relationship between money and happiness. The report is intended to be read by institutional investors.

In his last report on the subject, which came out in 2004, Montier gave 10 tips on how to achieve happiness. The top three were: Don't equate happiness with money, exercise regularly, and have sex often (preferably with someone you love).

In this study, Montier looks further at the link between materialism and happiness. He concludes that striving to buy loads of fancy stuff isn't going to make you happy. Those who focus on aims such as relationships and personal growth find it a whole lot easier to be happy. What's more, if you really want to get a happiness boost, forget buying a new car or a flashy watch. Instead try scuba diving, a safari or a concert, or even a walk in the woods. Writes Montier: "Experiences add more to our happiness than possessions."

For this we can thank something called the hedonic treadmill. It works like this. You splash out on something fancy, say a new car. It really makes you happy. At first. But then it becomes just another one of your things. You have, in effect, absorbed it into your normal everyday benchmark of life. Now you need a faster, sexier car. This helps explain the lottery effect. A survey in Europe found that it only takes a year before lottery winners have reverted to their former level of happiness. It also could help explain why happiness levels for Americans haven't increase over the decades, even as their house size and number of possessions has.

What's more, the pursuit of the dollar can leave you at risk of mental illnesses such as paranoia, narcissism and attention deficit disorder. This conclusion is based on the work of two researchers who analyzed 700 New Yorkers. They found that that those with more materialistic goals were far more likely than those with less materialistic goals to have difficulties with attention and were generally more likely to be socially inept and over-controlling. What's more they were likely to be paranoid and histrionic.

Luckily, Montier doesn't advocate that people chuck all their possessions away and head to the nunnery or monastery. He instead believes that, among other things, refocusing your life on non-materialistic goals and spending your money on experiences can help a person bring happiness.


I've read the 2004 study (have it in pdf - drop me a note if you want it). And quite agree with the findings, as well as the findings in this report too.

 
 
JAC
06 January 2006 @ 06:11 pm
The "Be In Control" Mental Model
  • Assume we are right.
  • See ourselves as more reasonable than others.
  • Assign negative attributes and motives to others.
  • Hold others accountable for problems.
  • Avoid upsetting situations.

The "Mutual Learning" Mental Model
  • Assume we have partial knowledge.
  • Grant legitimacy to other perspectives.
  • Assume positive intentions on the part of others.
  • Acknowledge our role in problems.
  • Embrace learning.

Step 1: Think back to a recent workplace encounter that didn't go as well as you had hoped.

Step 2: In the right-hand column of the table on the next page, record what you and the other person actually said during the exchange.

Step 3: In the left-hand column, record what you thought and felt during the conversation—but didn't express.

Step 4: Examine the items in your left-hand column. Beneath each one, write down which, if any, of the five unproductive thinking habits that item demonstrates. The five unproductive thinking habits are:
  1. Assume we are right.
  2. See ourselves as more reasonable than others.
  3. Assign negative attributes and motives to others.
  4. Hold others accountable for problems.
  5. Avoid upsetting situations.
Step 5: Answer the questions on the page following the table.
LEFT-HAND COLUMN:
WHAT YOU DIDN'T SAY
RIGHT-HAND COLUMN:
WHAT YOU AND THE OTHER PERSON DID SAY

Questions for Reflection
  • Which "Be in Control" thinking habits, if any, seemed to crop up most often in your mind during this conversation?
  • Put yourself in the other person's shoes. What would you imagine to be in the other's person's left-hand column-given what you said during the conversation?
  • In what respects might the conversation have gone differently if you had not used unproductive thinking habits?
  • What thoughts and feelings arise for you as you look over your left-hand column?

Reframing "Be In Control" Thinking
  • Reframing our thinking is difficult for all of us. It takes practice, humility, and lots of reflection. Be patient with yourself during this learning process.
  • During difficult conversations, it can help to remember that your conclusions are inferences, not facts.
  • If changing a thinking habit (such as shifting from "I know I'm right" to "I might be wrong") seems too big a leap, try taking smaller steps. For example, ask yourself, "What information might I be missing?"
  • Sometimes the best first step to reframing your thinking is to disrupt the intense emotions and defensiveness that can arise during a difficult conversation. Repeating a mantra (such as "I want to learn"), taking some deep breaths, or taking a break can provide that disruption.
  • If you're anticipating being involved in a difficult conversation, try to identify ahead of time the problems you might have during the encounter. Jot down some ideas about how you might deal with those problems in real time. Then, after the conversation, reflect on how it went—and what you might do differently the next time around.
  • Practice helps. Take opportunities to practice these skills with less difficult conversations. Look for opportunities to practice with people who know you well. A good start is to pick one skill that you want to work on, rather than trying to do everything at once perfectly.


 
 
JAC
06 January 2006 @ 05:49 pm
Avoiding Difficult Conversations
We all tend to put off difficult conversations—or avoid them entirely. However, avoiding these exchanges can mean that we:
  • Delay making crucial decisions.
  • Base decisions on inadequate information, which often leads to poor business decisions.
  • Compromise, rather than have the difficult discussion that could lead to a better decision.
  • Try to please everyone—and end up pleasing no one.
  • Fail to address deep, underlying issues that could help our teams understand one another better and learn from each other.

    Outside the workplace, many conversations we tend to avoid—such as discussions about politics or religion—touch on deeply personal issues and beliefs. Or, perhaps we know someone has a different opinion from ours, so we avoid discussing our opinions with him or her because we want to avoid an argument.

    In the workplace, we also tend to avoid conversations that address more personal or difficult issues, such as discussions about poor performance or other troubling problems. While we may talk privately with a colleague about others who think differently than we do, we tend to avoid frank conversations that could unpleasantly pit one functional group against another. And if we do try to engage in such uncomfortable exchanges, we often don't know how to handle the tensions, frustration, and outright conflict that can surface.

    Understanding Mental Models
    Our mental models are our deeply held beliefs and assumptions about how the world around us works. They determine how we make sense of events and strongly shape our decisions and actions.

    Mental models:
  • Are like "master programs," or sets of rules, that we use to quickly interpret others' actions and determine our own actions—especially during stressful moments.
  • Range from simple, such as "You can't trust management"—to complex, such as how different functions within an organization should work together.
  • Affect what we choose to notice. For example, two people can observe the same event and describe it very differently, because they've focused on different aspects of that event.
  • Tend to limit us to familiar ways of thinking and acting, thus discouraging us from testing our deeply held beliefs and possibly changing them.
  • Prevent us from identifying the information we've selected to pay attention to, examining the assumptions we're making, and understanding the thinking behind the conclusions we've reached.

    Keep in mind: Mental models are very useful, yet also limiting. They are useful when we need to act efficiently and when we're not attempting to resolve a difficult situation. It's when we're faced with conflict or when we need to make a difficult decision that we want to slow down our thinking and examine our mental models. In particular, we need to consider how they might be limiting our perspective.

    Mental Models and the Ladder of Inference
    The Ladder of Inference, a metaphorical tool developed by Chris Argyris, is a reflective aid that helps us uncover the thinking behind our conclusions.

    When we reach a conclusion, we gradually move up this Ladder:
  • We select data and information from the available pool around us.
  • We interpret and add our own meaning to the data we've selected.
  • We finally reach our conclusion—at the top of the Ladder.

    We can think of our mental models as the sides of the Ladder of Inference. These sides represent the deeply held beliefs that influence what we see and what interpretations we make as we climb our Ladders to reach our conclusions.

    Our Private Thinking
    What we say during a difficult conversation is very often not what we are thinking. However, what we are thinking does determine what we end up saying. To improve a difficult conversation, we therefore need to focus on our private thinking and figure out how it may be affecting the situation at hand.

    The "Left-Hand/Right-Hand Column Case Study" is a technique first introduced by Chris Argyris and Donald Schön to help uncover our private thinking. Using this technique, we can begin to get at the mental models that are influencing our private thinking and thus shaping our conversations. (For more on this technique, see Tool 2: Using the Left-Hand/Right-Hand Column Case Study.)

    A Defensive Mental Model: Be in Control
    One common mental model that tends to be triggered when we sense a threat or the potential for embarrassment, is "Be in Control." This mental model focuses us on defending ourselves rather than on learning. We think and behave in ways that defend our perspective and don't invite other perspectives.

    The "Be in Control" mental model leads to five unproductive thinking habits:
    1.Assume we are right.
    2.See ourselves as more reasonable than others.
    3.Assign negative attributes and motives to others.
    4.Hold others accountable for problems.
    5.Avoid upsetting situations.

    A Productive Mental Model: Mutual Learning
    To boost our chances of having more productive conversations in the workplace, we need to unlearn the "Be in Control" mental model and learn a new one, called "Mutual Learning."

    The "Mutual Learning" mental model includes five productive thinking habits:
    1.Assume we have partial knowledge.
    2.Grant legitimacy to other perspectives.
    3.Assume positive intentions on the part of others.
    4.Acknowledge our role in problems.
    5.Embrace learning.

    Moving from Unproductive Habits to Productive Alternatives
    Once we're aware of our private thinking and have analyzed it for unproductive thinking habits, we need to take on the tough job of shifting to a more productive mindframe. This is not easy. But by replacing a "Be in Control" mental model in favor of a "Mutual Learning" mental model, we can improve the outcome (and the experience) of difficult conversations. (For more on these two mental models, see "Managing Difficult Conversations" by Bill Noonan.)

    Making the shift involves self-reflection and much practice. You might start by considering conversations that went awry. By analyzing what you were thinking and feeling at the time—but not expressing—you will start to identify patterns of unproductive thinking. You can then assess what kinds of thinking would have been more productive. Eventually, you'll start to catch yourself during conversations, as you slip into these unproductive habits. And, you'll be able to improve conversations in real time. After a while, these productive alternatives will start to feel more natural to you as your thinking habits actually change. 
      
     
     
    JAC
    06 December 2005 @ 10:54 am
    I was attacked in New York... )
     
     
    JAC
    05 December 2005 @ 10:26 am

    Emotion leads astray even pro stock investors; Betting against crowd is hard to do, but helps you buy low, sell high

    By Ellen Simon
    Associated Press
    672 words
    4 December 2005
    Akron Beacon Journal (OH)
    4X
    2
    English
    Copyright 2005, Akron Beacon Journal. All rights reserved.

    NEW YORK

    Many Wall Street professionals see most people in the market as a herd. If the herd is heading one way, they say they'll head the other.

    As a result, they can't get enough polls gauging how people feel about stocks. If the majority of investors love stocks, the pros take that as a strong sign to sell. If most investors hate stocks, that's a reason to buy.

    The smart money says it will do the exact opposite of what everyone else is doing, because logic and experience dictate that investors who stay with the herd often get trampled.

    But history shows that investors -- both professional and amateur -- too often let emotions drive their investment decisions.

    To gauge sentiment, financial experts turn to polls.

    Strategists at firms including UBS AG, Citigroup Inc. and Wachovia Corp. look at sentiment indexes. There's the UBS Index of Investor Optimism, Citigroup's Risk-Love Indicator and the Ned Davis Crowd Sentiment Poll, which Wachovia uses. There are enough polls that Schaeffer's Investment Research throws a combination of polls into an algorithm that tries to time the top of the polls.

    In looking at the polls, the strategists try to stay one step ahead.

    In recent weeks, sentiment has been high. Yet, stocks have been rising, a sign the pros aren't fleeing the market.

    Why?

    When it comes to outsmarting the market -- or almost anything else -- Whitney Tilson, a value investor and founder of Tilson Capital Partners, has argued that we all suffer from overconfidence. In a popular presentation, he says that 82 percent of people say they are in the top 30 percent of safe drivers; 82 percent of Harvard Business School students say they are better-looking than their classmates, and 68 percent of lawyers in civil cases believe their side will prevail.

    ``Much of economic and financial theory is based on the notion that individuals act rationally and consider all available information in the decision-making process. However, researchers have uncovered a surprisingly large amount of evidence that this is frequently not the case,'' Tilson wrote in a paper called Psychology & Behavioral Finance .

    One problem: We're too emotional. A study published in Psychological Science that was co-authored by professors at Stanford University, Carnegie Mellon University and the University of Iowa pitted people with normal brains against people whose limbic systems -- the brain's emotional center -- were impaired.

    Subjects were given $20 in play money to invest, $1 at a time. Determining whether the investor won or lost was done by coin toss. Heads, they won; tails they lost.

    Losers lost the dollar they had invested. Winners had $2.50 added to their account. The rational thing to do, because there's a 50-50 chance of the coin coming up heads each time and the returns for winning were greater than the returns for losing, would be to invest in every round. But people with normal brains did not behave rationally. They became more conservative when they lost. People with impaired limbic systems did not.

    ``Medical study confirms brain impairment HELPS improve investment returns,'' Ajay Singh Kapur, chief global equity strategist at Citigroup, wrote in a summary of the study.

    He uses the study as an argument for fighting instinct and getting into the market when investment sentiment is most negative and exiting when investor sentiment is high.

    It's a rational argument. But think back to the last bubble: Big-time money managers took just as many lumps as day traders in boxer shorts. Most pros didn't stay ahead of sentiment. Most pros didn't bail out when it became clear valuations were irrational.

    Following the crowd or running from the crowd isn't as solid a strategy as buying good stocks at cheap prices and waiting for them to rise, Tilson said.

    </td>
     
     
    JAC
    03 December 2005 @ 01:02 pm

    Krispy Kreme production line in Boston )

     
     
    JAC
    03 December 2005 @ 05:16 am

    Empire State Building )

     
     
    JAC
    03 December 2005 @ 04:45 am

    Old Posters )


     
     
    JAC
    03 December 2005 @ 04:43 am

    Times Square, New York )

     
     
    JAC
    03 December 2005 @ 04:12 am

    Chicago )

     
     
    JAC
    03 December 2005 @ 04:06 am

    Napa Valley )



     
     
    JAC
    03 December 2005 @ 03:55 am


    Yosemite in pictures )

     
     
    JAC
    02 December 2005 @ 12:03 pm

    In the Stanford class various issues regarding women & family & work were thrown up….horror stories galore.



    We talked about women in corp fin who went into labour whilst on the phone doing deals...

     

    A woman whose water bag broke during negotiations…and all she did was to stuff a plastic bag under her….

     

    Women who went back to banking work a week after giving birth…

     

    Women who pulled overnighters although 7 months pregnant….

     

     

    And then the men who had affairs with their secretaries, who never went home….although their wives were staying at home, just waiting for them to come home.

     

    The men who drank themselves silly, who visited “gentleman’s clubs”, who lived the banking lifestyle.

     

    And the women they were supposedly married to? Many were intelligent women, with Stanford MBAs even, who gave up their career to stay at home and look after the kids.

     

    We talked about such situations – the guy becomes the sole breadwinner, and feels totally responsible for bringing home the bacon. The girl stays at home and makes the home environment so comfortable for the guy, because everytime he comes home, everything is done and ready for him. Kids are taken care off, dinner, laundry everything. As such he spends more time at work, also partly because he starts measuring himself by how well he does at work. And the girl, she stays at home and waits for him to go home everyday….its just a waiting game everyday. Besides talking to the other playschool kid’s moms, she loses touch with the ‘outside world’….her old world of business, the finance, the economics, goes. Networking goes down the drain because who networks with a stay-home mum? She starts losing touch with him, because their goals & what they’re both interested in, and do everyday start differing too much. And then….

     

     

    This class really shook me. It affected me a lot because I was seriously considering going back to banking. Career first.

     

    But I know myself, I could never be one of those women who went back to work a week after giving birth. Why have a kid in the first place then? Yet, I could never be a stay-home mum too….I need to feel connected with the world.

     

    But some people have made it work. Like the speaker – she started out as a lawyer, and then became partner of a private equity firm, husband runs his own firm…and listening to their stories it kicked in again that what you really do need is a partner who is willing to negotiate and work things out with you. With separation/divorce the extremely last option and a willingness to work things out no matter what.

     

    *sigh*

     
     
    JAC
    02 December 2005 @ 11:28 am

    I’ve had all kinds of cream cheese with bagels in the mornings – cucumber cream cheese, sundried tomato cream cheese, walnut & raisin cream cheese, low fat cream cheese, scallions cream cheese….all so good, especially when washed down with hot chocolate.

     

    And then I did the American breakfasts – potatoes, eggs, sausages, toast, pancakes washed down with orange juice.

     

    Insanely sinful but oh so good.

     

     

     

     

     

     

     

     
     
     
     
    JAC
    02 December 2005 @ 08:41 am



    “Shopping )

     
     
    JAC
    02 December 2005 @ 08:41 am


    “Food!” )

     
     
    JAC
    02 December 2005 @ 08:41 am

    “Thanksgiving” )

     
     
    JAC
    02 December 2005 @ 08:40 am

    “Of )




     
     
    JAC
    02 December 2005 @ 08:40 am

    “MIT” )</span></p>
     
     
    JAC
    02 December 2005 @ 08:39 am

    “Harvard” )

     
     
    JAC
    02 December 2005 @ 08:39 am

    “Boston” )

     
     
    JAC
    02 December 2005 @ 08:38 am

    “snip” )

     
     
    JAC
    02 December 2005 @ 08:38 am

    “Museum )l


     
     
    JAC
    02 December 2005 @ 08:38 am

    snip )

     
     
    JAC
    02 December 2005 @ 08:37 am

    “snip” )