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Long-term thinking is one of the most valuable traits of successful individuals. It demands that you forego the rewards of the immediate future and position yourself for lasting success. But long-term thinking is impossible without patience; it’s what made John D. Rockefeller one of the most successful businessmen in history. Whenever he had the opportunity, … The post [FS Members] Lessons from Rockefeller: The Upside of Patience appeared first on Farnam Street.
A lot of otherwise talented people are too pessimistic to actually do anything. They are paralyzed by risks that don’t exist and greatly exaggerate them where they do, preventing them from being one of the best. Consider this lightly edited excerpt from a conversation between Charlie Rose and Magnus Carlsen that argues it’s better to … The post The Winner’s Edge appeared first on Farnam Street.
Michael Abrashoff was in his mid-thirties when he took command of the USS Benfold, a guided missile destroyer and one of the worst-performing ships in the navy. Despite her potency, the “dysfunctional ship had a sullen crew that resented being there and could not wait to get out of the Navy.” By the time he left, less … The post Lessons on Leadership: Michael Abrashoff on Turning the Worst Ship in the Navy into the Best appeared first on Farnam Street.
We all want to learn better. That means retaining information, processing it, being able to use it when needed. More knowledge means better instincts; better insights into opportunities for both you and your organization. You will ultimately produce better work if you give yourself the space to learn. Yet often organizations get in the way of … The post Let Go of the Learning Baggage appeared first on Farnam Street.
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The key reports this week are January New Home sales, the second estimate of Q4 GDP, Personal Income and Outlays for January, and Case-Shiller house prices. ----- Monday, February 24th ----- 8:30 AM ET: Chicago Fed National Activity Index for January. This is a composite index of other data. Dallas Fed Survey of Manufacturing Activity for February. ----- Tuesday, February 25th ----- 9:00 AM: FHFA House Price Index for December 2024. This was originally a GSE only repeat sales, however there is also an expanded index. 9:00 AM: S&P/Case-Shiller House Price Index for December. Richmond Fed Survey of Manufacturing Activity for February. ----- Wednesday, February 26th ----- 7:00 AM ET: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. 10:00 AM: New Home Sales for January from the Census Bureau. The consensus is that new home sales increased to 678 thousand SAAR, down from 698 thousand in December. ----- Thursday, February 27th ----- 8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for an increase to 225 thousand from 219 thousand last week. Gross Domestic Product, 4th Quarter and Year 2024 (Second Estimate) The consensus is that real GDP increased 2.3% annualized in Q4, unchanged from the advance estimate of 2.3%. Durable Goods Orders for January from the Census Bureau. The consensus is for a 1.8% increase in durable goods orders. Pending Home Sales Index for January. The consensus is for a 1.2% decrease in the index. Kansas City Fed manufacturing survey for February. ----- Friday, February 28th ----- 8:30 AM ET: Personal Income and Outlays for January. The consensus is for a 0.3% increase in personal income, and for a 0.2% increase in personal spending. And for the Core PCE price index to increase 0.2%. PCE prices are expected to be up 2.5% YoY, and core PCE prices up 2.6% YoY. Chicago Purchasing Managers Index for February.
In the volatile world of cryptocurrency, security is paramount.
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. NAR: Existing-Home Sales Decreased to 4.08 million SAAR in January Housing Starts Decreased to 1.366 million Annual Rate in January The "Neutral" Rate and Implications for 30-year Mortgage Rates California Home Sales Down 1.9% YoY in January; 4th Look at Local Housing Markets Lawler: Early Read on Existing Home Sales in January
By mid-century, changes in Berkshire Hathaway's voting control could make a breakup of the conglomerate likely.
