Good morning.
Over the past year, Barstool Sports founder David Portnoy has developed a following with his daily comments and views on the stock market. He once even bragged about being a better investor than Warren Buffett. But while that was true in 2020, 2021 hasn’t worked out so well.
Investing in “meme” stocks like GameStop and AMC Entertainment, which have been dropping this week, Portnoy sold out his position with a $700,000 loss. His followers may do likewise. But there is still one bright spot for retail traders, however: Robinhood lifted trading restrictions on GameStop shares, which partially reversed a massive drop in shares yesterday. GameStop was halted on the way down and on the way up at different times of the day. This saga may not be over yet, but it’s certainly slowed.
Now here’s the rest of the news:
The Biden Jobs Purge –Andrew Stuttaford
Keystone XL would’ve sustained 11,000 U.S. jobs, and $1.6 billion in wages, in 2021. Given Biden’s climate crusade, there will be many more job losses…
February 03, 2020
Are You a “Taker” or a “Maker”?
Want to know the secret behind great achievers? It comes down to mindset. For Benjamin Barber, an eminent sociologist, once said, “I don’t divide the world into the weak and the strong, or the successes and the failures… I divide the world into the learners and non-learners.” And while there are different ways to categorize mindsets (e.g., fixed vs. growth), when it comes to leading a life of significance, we like to think there are two kinds of people: Takers and Makers:
- Takers are those who take, grab, and consume what they can to meet their own needs. Takers operate with a scarcity mindset.
- Makers are those who give and make things happen. Makers cause progress and foster success in others. Makers envelop an abundance mindset.
In his classic book The 7 Habits of Highly Effective People, Steven Covey explains the concepts of abundance and scarcity beautifully:
People with a Scarcity Mentality have a very difficult time sharing recognition and credit, power or profit — even with those who help in the production. They also have a hard time being genuinely happy for the success of other people.
The Abundance Mentality, on the other hand, flows out of a deep inner sense of personal worth or security. It is the paradigm that there is plenty out there and enough to spare for everybody. It results in the sharing of prestige, recognitron, profits, and decision-making. It opens possibilities, options, alternatives, and creativity.
The good news is that if you find yourself deeply rooted in a Scarcity Mentality (which most people are), you can make a “paradigm shift” to an Abundance Mentality by changing your thoughts and mindset:
Scarcity Paradigm
1. Defense
2. Escape loss
3. Safety
4. Maintain
5. Fear
6. Tight
7. Gifts are contained
8. Reactive
9. Paralyzed
10. Narrow/closed
11. Stagnation
12. Win-lose
Abundance Paradigm
1. Offense
2. Pursue the vision
3. Risk
4. Create
5. Faith
6. Generous
7. Gifts are released
8. Proactive
9. Dynamic
10. Wide/open
11. Multiplication
12. Win-win
So, when reading over these points… I feel it’s very hard to do a complete 180… but maybe instead try to shift slowly or say to yourself, “I can be better in this area”… finding one maybe two things where you can “shift” to the other Paradigm.
To a Better You … 😉
February 03, 2019
Sunday is another Fun-day!
My check_up … from the neck_up! 😉
