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Nagesh Belludi

Book Summary of Nassim Taleb’s ‘Fooled by Randomness’

May 6, 2013 By Nagesh Belludi Leave a Comment

'Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets' by Nassim Nicholas Taleb (ISBN 1400067936) In “Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets,” Lebanese American essayist Nassim Nicholas Taleb discusses cognitive biases and irrationalities that drive human behavior and decision-making.

Principal ideas:

  • Luck, chance, and randomness play a larger role in the happenings of the world than most people acknowledge.
  • People tend to justify random outcomes as non-random and rationalize chance outcomes as results of deliberate actions.
  • Correlation does not translate to causation.
  • People tend to assume patterns in their analysis even when such patterns do not exist.
  • Variations in performance and ability can cause disproportionate rewards, difficulties, punishments, or returns.

Wondering what to read next?

  1. Gambler’s Fallacy is the Failure to Realize How Randomness Rules Our World
  2. Maximize Your Chance Possibilities & Get Lucky
  3. An Olympian History of Humanity // Book Summary of Yuval Noah Harari’s ‘Sapiens’
  4. The Historian’s Fallacy: People of the Past Had No Knowledge of the Future
  5. How Stress Impairs Your Problem-Solving Capabilities: Case Study of TransAsia Flight 235

Filed Under: Leadership Reading, Sharpening Your Skills Tagged With: Biases, Books for Impact, Luck, Mental Models

Inspirational Quotations #474

May 5, 2013 By Nagesh Belludi Leave a Comment

Perhaps travel cannot prevent bigotry, but by demonstrating that all peoples cry, laugh, eat, worry, and die, it can introduce the idea that if we try and understand each other, we may even become friends.
—Maya Angelou (American Poet)

Most people live, whether physically, intellectually or morally, in a very restricted circle of their potential being. They make use of a very small portion of their possible consciousness, and of their soul’s resources in general, much like a man who, out of his whole bodily organism, should get into a habit of using and moving only his little finger. Great emergencies and crises show us how much greater our vital resources are than we had supposed.
—William James (American Philosopher)

You only find out who is swimming naked when the tide goes out.
—Warren Buffett (American Investor)

Your most unhappy customers are your greatest source of learning.
—Bill Gates (American Businessperson)

A good book is the precious lifeblood of a master spirit, embalmed and treasured up on purpose to a life beyond life.
—John Milton (English Poet)

I don’t make jokes. I just watch the government and report the facts.
—Will Rogers (American Actor)

The best teacher is the one who suggests rather than dogmatizes, and inspires his listener with the wish to teach himself.
—Edward Bulwer-Lytton, 1st Baron Lytton (English Poet)

People don’t understand the sort of fight it takes to record what you want, to record the way you want to record it.
—Billie Holiday

Show me a hero and I will write you a tragedy.
—F. Scott Fitzgerald (American Novelist)

Filed Under: Inspirational Quotations

The World’s Shortest Course on Time Management

May 1, 2013 By Nagesh Belludi 1 Comment

There are countless things you can do.

There are numerous things you want to do.

There are several things others expect you to do.

There are many things you think you are supposed to do.

However, there are only a few things that you must do. Focus on those and avoid the rest.

In depth: Take my three-part course on time management—time logging, time analysis, and time budgeting. See also my 10-minute “Dash” technique to overcome procrastination.

Wondering what to read next?

  1. Make a Habit of Stepping Back from Work
  2. Niksen: The Dutch Art of Embracing Stillness, Doing Nothing
  3. How to … Nap at Work without Sleeping
  4. How to Keep Your Brain Fresh and Creative
  5. How to Prevent Employee Exhaustion

Filed Under: Health and Well-being, Sharpening Your Skills Tagged With: Balance, Time Management

David Ogilvy on Why It Pays to Advertise

April 29, 2013 By Nagesh Belludi Leave a Comment

I’ve been reading Ogilvy on Advertising, written by David Ogilvy (1911–1999,) the founder of Ogilvy & Mather.

Ogilvy on Advertising, David Ogilvy (1911--1999) Ogilvy is one of the founding fathers of modern advertising and spent his life preaching the benefits of research in salesmanship, long informative copy, creative brilliance, and results for clients. Ogilvy famously said, “It is useless to be a creative original thinker unless you can also sell what you create.”

Ogilvy on Advertising provides excellent sage advice into the art of selling smart. Many of the principles in this book are dated, but the ideology and creative thought processes discussed are timeless.

Ogilvy cites this anonymous poem on why it pays to advertise.

The codfish lays ten thousand eggs,
The homely hen lays one.
The codfish never cackles
To tell you what she’s done—
And so we scorn the codfish
While the humble hen we prize.
It only goes to show you
That it pays to advertise!

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  1. Restless Dissatisfaction = Purposeful Innovation
  2. What Taco Bell Can Teach You About Staying Relevant
  3. ‘Mrs Brown’s Boys’ Teaches That the Most Sincere Moment is the Unplanned One
  4. Your Product May Be Excellent, But Is There A Market For It?
  5. The Singapore Girl: Myth, Marketing, and Manufactured Grace

Filed Under: Sharpening Your Skills, The Great Innovators Tagged With: Books for Impact, Parables, Persuasion

Inspirational Quotations #473

April 28, 2013 By Nagesh Belludi Leave a Comment

While it is possible for intelligence to increase the range of benevolent impulse, and thus prompt a human being to consider the needs and rights of other than those to whom he is bound by organic and physical relationship, there are definite limits in the capacity of ordinary mortals which makes it impossible for them to grant to others what they claim for themselves.
—Reinhold Niebuhr (American Protestant Theologian)

An expert is a person who has found out by his own painful experience all the mistakes that one can make in a very narrow field.
—Niels Bohr (Danish Physicist)

Know, first, who you are, and then adorn yourself accordingly.
—Epictetus (Ancient Greek Philosopher)

Man is endowed by nature with organic relations to his fellow men; and natural impulse prompts him to consider the needs of others even when they compete with his own.
—Reinhold Niebuhr (American Protestant Theologian)

Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius—and a lot of courage—to move in the opposite direction.
—E. F. Schumacher (German Mathematician)

Filed Under: Inspirational Quotations

Two-Minute Mentor #5: Present Perfect

April 25, 2013 By Nagesh Belludi Leave a Comment

In “Awakening of the Heart” Vietnamese-French Buddhist monk and teacher Thich Nhat Hanh offers a translation of the Bhaddekaratta Sutta:

Do not pursue the past.
Do not lose yourself in the future.
The past no longer is.
The future has not yet come.

Looking deeply at life as it
is in the very here and now,
the practitioner dwells
in stability and freedom.

We must be diligent today.
To wait until tomorrow is too late.
Death comes unexpectedly.
How can we bargain with it?

The quality of your life depends on how you live at this moment. Within the span of a few minutes, you may experience the darkest part of your life or the brightest. In one instant, you may suffer the painful pinpricks of stress; in the next, you may revel in the fullness and mystery of life.

By meditating on these experiences, you will realize that your memories and daydreams are actually illusory. They are not happening now; they are simply mental images flickering in the mind. Most of the strands of your mind’s apprehensions are fleeting and ultimately unimportant.

The first step towards achieving harmony, joy, happiness, and well-being is to recognize that your upheavals are nothing but your own mind’s projections. You are in control and can prevent yourself from being overwhelmed by them.

Mindfulness comes from paying attention to what you are doing right now and letting go of regrets, worries, and fears. Far greater joy is in the living process than in the outcome. Be in the moment.

Idea for Impact: Your past has created the present; create your future by focusing on the present.

Wondering what to read next?

  1. The Gift of the Present Moment
  2. How to Banish Your Inner Perfectionist
  3. Avoid the Trap of Desperate Talk
  4. Learn to Manage Your Negative Emotions and Yourself
  5. Live as If You Are Already Looking Back on This Moment with Longing

Filed Under: Living the Good Life, Sharpening Your Skills Tagged With: Buddhism, Mindfulness, Perfectionism

Inspirational Quotations #472

April 21, 2013 By Nagesh Belludi Leave a Comment

An idea, to be suggestive, must come to the individual with the force of a revelation.
—William James (American Philosopher)

Night has come! Leaning from the window, we gaze at the vast sombre stretch of the city below us, pierced with multitudinous points of light. Jeanne presses her hand to her forehead as she leans upon the window-bar, and seems a little sad. And I say to myself as I watch her: All changes, even the most longed for, have their melancholy; for what we leave behind us is a part of ourselves: we must die in one life before we can enter into another!|And as if answering my thought, the young girl murmurs to me.|My guardian, I am so happy; and still I feel as if I wanted to cry!
—Anatole France (French Novelist)

A baby is God’s opinion that life should go on.
—Carl Sandburg (American Children’s Books Writer)

Doubts and jealousies often beget the facts they fear.
—Thomas Jefferson (American Head of State)

Your purpose is to act on the resources God gives you. If God gives you a bucket of fish, you have to distribute those fish. If you don’t, they’re going to rot, attract a bunch of flies, and start stinking up your soul.
—Russell Simmons (American Entrepreneur)

Valuable advice can sometimes come from an unexpected source, and chance events can sometimes open new doors.
—N. R. Narayana Murthy (Indian Businessperson)

The answer to your prayer is not according to your faith while you are talking, but according to your faith while you are working.
—Wallace Wattles (American New Thought Author)

It is not work that kills men; it is worry. Work is healthy; you can hardly put more on a man than he can bear. But worry is rust upon the blade. It is movement that destroys the machinery, but friction.
—Henry Ward Beecher (American Protestant Clergyman)

Love doesn’t just sit there like a stone; it has to be made, like bread, remade all the time, made new.
—Ursula K. Le Guin (Science-fiction writer)

The cruelest lies are often told in silence.
—Robert Louis Stevenson (Scottish Novelist)

We mean by “politics” the people’s business—the most important business there is.
—Adlai Stevenson (American Diplomat)

Filed Under: Inspirational Quotations

Why I Don’t Drink Alcohol

April 18, 2013 By Nagesh Belludi 1 Comment

Drunken Man During my travels, I am asked why I don’t drink alcohol more often than I am asked why I am lacto-vegetarian. I do not even consume food and desserts that use cooking wine or liqueur to enhance flavors.

Deep inside, my abstention from alcohol might perhaps be a subliminal sense of superiority that comes from always being in control of my senses.

Long ago, I determined that the most eloquent justification I could provide for why I am a teetotaler is by merely quoting an adaptation of the fifth precept from Pancasila, the Buddhist code of basic ethics. The fifth percept calls for practitioners to abstain from intoxicants, liquor, and drugs that confuse the mind and cause heedlessness and a lack of restraint. (To be precise, the original Buddhist texts in Pali call for abstention from three fermented drinks in vogue in ancient India.)

Health Benefits?

One assertion that I hear often is that red wine is supposed to have health benefits and that antioxidants in red wine may help prevent heart disease. Research has focused on an antioxidant called resveratrol. Studies done so far on animals—not on humans—propose that resveratrol might fight cholesterol, avoid damage to the blood vessels, and inhibit blood clots. The resveratrol in red wine comes from the skin of grapes. The higher content of resveratrol in red wine (vis-à-vis white wine) comes from a lengthier fermentation cycle involving the skin of red grapes. Therefore, my counter argument is that I gain all the associated health benefits by simply eating grapes and drinking grape juice.

The Drunkard's Progress: From The First Glass To The Grave

Extra: “From The First Glass To The Grave”

Many people wonder, “Do I drink too much?” and consider the consequences of drinking too much alcohol. “The Drunkard’s Progress: From The First Glass To The Grave” by Nathaniel Currier is a well-known lithograph from the temperance movement of the 19th century. See more temperance posters from that era at the Pictorial Americana collection from the Library of Congress.

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  2. Values Are Easier to Espouse Than to Embody: Howard Schultz Dodges the Wealth Tax
  3. Leadership Isn’t a Popularity Contest
  4. Consistency Counts: Apply Rules Fairly Every Time
  5. Shrewd Leaders Sometimes Take Liberties with the Truth to Reach Righteous Goals

Filed Under: Living the Good Life Tagged With: Buddhism, Conviction, Discipline, Ethics, Values

Overwhelmed with Things To Do? Accelerate, Maintain, or Terminate.

April 16, 2013 By Nagesh Belludi Leave a Comment

If you are overwhelmed by extensive demands on your time or by the number of projects that seem permanently stuck on your to-do list, here’s a technique to organize your projects more effectively.

Make a table with three columns: “Accelerate Mode,” “Maintain Mode,” and “Terminate Mode” and classify your projects.

  • “Accelerate mode” projects have the potential for significant benefits and therefore will need additional investment in time, effort, and resources.
  • Projects that you can sustain at the present pace and projects where additional investments may not necessarily translate to larger payoffs go in the “maintain mode.”
  • Choose the “terminate mode” whenever in doubt, especially for projects that have been lingering in the “someday I will get to” and “maybe” categories. Also, terminate those projects that are on your list because you feel that you should do but need not.

One of the key characteristics of successful people is to recognize and invest their resources in projects that really matter and to do everything else adequately enough.

Wondering what to read next?

  1. Did School Turn You Into a Procrastinator?
  2. Stop Putting Off Your Toughest Tasks
  3. The Midday Check
  4. How to … Tame Your Calendar Before It Tames You
  5. Keep Your Eyes on the Prize [Two-Minute Mentor #9]

Filed Under: Leading Teams, Project Management, Sharpening Your Skills Tagged With: Discipline, Getting Things Done, Procrastination, Task Management, Time Management

Inspirational Quotations #471

April 14, 2013 By Nagesh Belludi Leave a Comment

An unruly patient makes a harsh physician.
—Publilius Syrus (Syrian-born Latin Writer)

Gratitude is not only the greatest of virtues, but the parent of all others.
—Cicero (Roman Philosopher)

He has achieved success, who has lived well, laughed often and loved much.
—Bessie Anderson Stanley (American Poet)

At very best, a person wrapped up in himself makes a small package.
—Harry Emerson Fosdick (American Baptist Clergyman)

There are good and bad times, but our mood changes more often than our fortune.
—Jules Renard (French Novelist)

The great successful men of the world have used their imagination…they think ahead and create their mental picture in all its details, filling in here, adding a little there, altering this a bit and that a bit, but steadily building – steadily building.
—Robert Collier (American Self-Help Author)

Let thy child’s first lesson be obedience, and the second will be what thou wilt.
—Benjamin Franklin (American Political leader)

Those indeed who attain any excellence commonly spend life in one pursuit, for excellence is not often gained upon easier terms.
—Samuel Johnson (British Essayist)

He has achieved success who has worked well, laughed often, and loved much.
—Elbert Hubbard (American Writer)

Learning organizations may be a tool not just for the evolution of organizations, but for the evolution of intelligence.
—Peter Senge (American Management Consultant)

How bitter a thing it is to look into happiness through another man’s eyes!
—William Shakespeare (British Playwright)

I wish more of us could understand that our increasing isolation, no matter how much it seems to express pride and self-affirmation, is not the answer to our problems.
—Arthur Ashe (American Sportsperson)

The cultured give happiness wherever they go. The uncultured whenever they go.
—Swami Chinmayananda (Indian Hindu Teacher)

Filed Under: Inspirational Quotations

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About: Nagesh Belludi [hire] is a St. Petersburg, Florida-based freethinker, investor, and leadership coach. He specializes in helping executives and companies ensure that the overall quality of their decision-making benefits isn’t compromised by a lack of a big-picture understanding.

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Unless otherwise stated in the individual document, the works above are © Nagesh Belludi under a Creative Commons BY-NC-ND license. You may quote, copy and share them freely, as long as you link back to RightAttitudes.com, don't make money with them, and don't modify the content. Enjoy!