Week 1

Why I should write daily - February 27

Last year, I met a good friend of mine today from an online dating app. Even though she worked in the finance industry like myself, she had set for herself a goal to create, as opposed to consume, as much as possible. Her life habits were directed by this philosophy and while it was interesting to talk about, I did not think it was anything particularly novel. I had encountered the same sort of advice many times before in books, podcasts, and magazines. Be Creative seemed like just one of many vague and redundant life tips, somewhere in between Exercise the Mind and Appreciate Art.

I have since begun to view creativity in a different light entirely. I realized that the people I admire most are creators: the makers of products, the providers of services, the doers and the entertainers. We value creators because creators generate their own value that is often a net positive to society. What we create define us because our creations are our contributions to the world – they are the tools we use to impact the people the around us, and they are what we will be remembered for. To be proactive and to choose to create allows us to take control of our destiny.

Writing is the most useful and productive form of creating. It trains the mind to think deeply about ideas and to organize them in a logical manner so that they are easily understood by others. Writing, once mastered, is the most sincere and broadly encompassing reflection of our individuality. Contrary to the popular axiom, I believe that a piece of good writing can reveal more about an author than a thousand photographs. I will commit myself to improving my writing every day because it is the skill I believe will yield the greatest benefits to me in all aspects of my life.

The intrinsic benefits of writing - February 28

Writing daily benefits us by helping us develop four critical life skills:

Writing helps us think critically

How often are we consciously aware of our thoughts and our surroundings? It is frighteningly easy for us to move unknowingly from one day to the next, and not appreciate the beauty and complexity of the world we live in. Writing forces us to pause for a moment and consciously reflect on how we can approach our lives better. 

Writing trains personal discipline

Committing a certain amount of time every day to write can be arduous and frustrating at times, particularly when there appear to be more interesting things to do. However, writing every day, like any new habit, is a fine test of our internal discipline and habit formation skills. We exercise our willpower every time we boot up the laptop or pick up a pen, and can achieve a boost of confidence through writing that will help us succeed in other goals.

Writing improves our communication skills

Effective communication is key to success in the world of business and personal relationships. An eloquent communicator is respected, admired, and exceedingly attractive. Practicing writing can help us sort the flow of our internal dialogue into an easily understood message, and allow us to share our personal intellectual brilliance with the world.

Writing stimulates our creative energy

The human mind has vast creative potential, and writing enables us to make the most of this innate gift. The ephemeral thoughts in our head can be endless source for creativity and it would be a wasted opportunity if we do not capitalize on this limitless resource. The more we write, the more we think, and when we think more, we find the inspiration and knowledge to create.

                                 

Why invest in US equities - March 1

Over the past 3 months, the US stock market has been buoyed by optimism about President Trump’s economic policies. At first glance, the situation seems absurd.  Back in October, the general media consensus was that a Trump win would usher in immediate economic doom. Volatility was expected to reign as America severed its connection with the global community. American consumers would spend less as domestic prices rose, and international investors and trade partners would take their business abroad in anticipation of a stagnant US economy. Fortunately for the US, public sentiment shifted for the better, and the S&P 500 went on a 15% tear since the November general election.

Much of the rising expectations center around two elements of Trump’s economic plan: tax reform and infrastructure spending. Trump’s proposals, in similar fashion to his campaigns, have been light on specific details. However, they are perceived to be positive for the economy, and the markets have responded accordingly.

The first element is to revamp significant portions of the tax code to benefit businesses and domestic investment. In particular, Trump promises to cut corporate tax rates significantly from the current level of 35% to a range of 15 – 20%. Additionally, he plans to introduce a repatriation tax of 10% that will provide an incentive for businesses with significant overseas cash holdings to invest them back into the US. Companies such as Apple (which holds an absurd USD246 billion offshore) have indicated they will shuffle overseas cash back into the domestic tax net. Trump also wants to explore changing the definition of corporate income so that imports are taxed 20% and while export taxes are eliminated – this reform would further incentivize companies to keep their operations within the US.

Trump’s second plan is atypical to the Republican Party’s platform, which normally calls for fiscal conservatism. Throughout the general election, Trump loudly broadcasted his support for fiscal stimulus by boosting infrastructure spending on America’s dilapidated and crumbling roads, bridges and airports. Trump estimates his plan will cost upwards of USD 1 trillion, but no one knows yet clear how much of that is actual infrastructure investment, or where the tax dollars will come from. Regardless, the spending proposal addresses a real concern for the US because the country’s infrastructure is indeed in poor shape. Trump will likely find support from both the Republican and Democrat camps to implement the plan, and if it is successful, the commitment will help the US maintain its near-full employment rate for the foreseeable future.

*Of course it is Mexico that will pay for the wall, but the US will front the money first ; )

Uber CEO Row - March 2

The recent controversy between Uber CEO Travis Kalanick and an Uber Black driver irks me on so many levels. The social outrage that erupted as a result, and Kalanick’s subsequent apology, is representative of how Internet media and overzealous netizens can facilitate a narrative in which logic and rational business perspective are drowned out.

I have long been astounded by how Uber has succeeded so phenomenally despite its toxic management culture. It appears that corporate misdeeds such as misogynist treatment of employees, public corporate sabotage, and antagonization of the press, does little to hamper growth if there is sufficient demand.

However, in this particular situation, people have imposed their personal bias against Uber on Kalanick. The Uber Black driver and Kalanick both had valid reasons to be frustrated. The driver had leased a high-end luxury car to drive for Uber Black, the premium and most expensive version of Uber. In the past year, Uber Black demand had dropped considerably as passengers opted for the more budget-friendly UberX and UberPool. Without sufficient ride volume, the driver was stuck with monthly lease payments on a vehicle he purposely obtained for Uber.

On the other side, Kalanick had spent the last several years fighting off competitors across the globe. He lost the battle in China to Didi, and still could not shake off Lyft despite burning billions of dollars year after year to undercut its smaller rival. The only meaningful differentiator between ride-sharing apps is price, so introducing low-end options such as UberX and UberPool was the only logical method to capture market share. Kalanick made the only decision he could to stay in business, and now he was berated by a driver who owed his economic livelihood to Uber.

Both the driver and Kalanick failed to emphasize with the other’s situation, but unfortunately for Kalanick, the bar is higher for the CEO of the world’s most valuable private tech company.

North Korea - March 3

I am fascinated by how North Korea, seemingly a relic of a bygone era, can continue to exist in the 21^st century. While the rest of the developing world has undergone radical political, economic, and cultural transformations, North Korea has clung to a totalitarian system of government that is in many ways more repressive and backwards than the Soviet system it was modelled after. Even more striking is that the DPRK will continue to exist indefinitely, due to a combination of nuclear deterrence, irresolvable foreign policy differences between China and the US, and the North Korean government’s violent suppression of domestic dissent and foreign influence.

Today we find it difficult to reconcile that North Korea and South Korea were virtually indistinguishable a mere two generations ago. Since that time, the South Korean economy has thrived through capitalism and free market economy, as well as through the direct support of the United States. North Korea was on par with its southern neighbour until most of the 60’s when the South Korean capitalistic model really started paying dividends. The collapse of the Soviet Union exacerbated North Korea’s plight, by taking away direct foreign aid, and eliminating altogether subsidies for commodities such as oil.

North Korea today is by many standards worse off than it was 30 years ago. The regime’s economy has clearly regressed to a point where it is obvious to any observer that South Korea has the more fundamentally sound economic system. North Korea’s response is only to create a scenario straight out of 1984, where the government uses the constant threat of destruction by foreign powers to promote a military-first policy. By shutting off communication with the outside world and promoting the idea that only the military can ensure survival for its citizens, the government has created a fanatically devoted and nationalistic population who are willing to sacrifice everything to the state.

Tennis - March 4

I am ball sport fanatic in general, and I reckon I would become obsessed with any ball sport if I played it at a fundamentally sound level. It just so happened that my environment growing up led me to play more tennis than any other sport, and now my skills are focused almost exclusively on tennis.

Tennis’s thrill is in competition. I get a jolt of adrenaline every time I spike an ace or stretch myself to reach a tough shot, but the beauty of the game goes beyond its physicality. I love tennis, especially singles tennis, for its psychological stimulus. Over the course of a multiple-set tennis match, a player goes through peaks and troughs in terms of mental state and playing ability. Tennis is a game that rewards consistency above all else, which makes frustration and impatience the bane of a competitive tennis player.

Therefore, every singles tennis match is battle of the mind as much as the ball. There are two opponents a player must overcome – the one standing across the net and the one inside his own head. Both players seek to gain a psychological edge over the other by identifying and attacking weaknesses, adjusting to the other’s playstyle, and then readjusting to the opponent’s adjustment, over and over again. Against a similarly skilled opponent, the typical tennis match is rarely comfortable. It takes all of a player's concentration to stay focused and avoid errors, and to patiently execute a game plan.

Singles tennis is a purely individual effort where there are no teammates to defer to or to blame, and where is nearly no luck factor. The match’s outcome favours the best executor on the court that day, where each careless mishit or errant long ball is the fault of the individual alone. To reach the mental zone where I play my peak-level tennis is almost like being in a zen-like state, and it is the reason why I keep coming back to the game.

The importance of setting goals - March 5

Over the past few years, I have wondered what my life end goal is. If I have a steady source of income, a wonderful family, and physical and mental health, would I be content? The thought exercise brings me back to Maslow’s pyramid – if my physical, material, social, and self-esteem needs are secured, would I aspire for more?

The answer is obvious to me today. Life is too short to not aspire to make an impact greater than ourselves. It is too brief to not make the utmost effort towards achieving our wildest dreams, which should go far beyond just securing a comfortable life. We are the masters of our own destiny and the protagonist of each of our personal stories; it would be a tragedy if we resigned ourselves to reach for anything less than what we truly desire.

Now, this desire might be subjective. It may be tempting to become complacent and to reason that a well-paying job is sufficient because it meets our basic needs. However, if you had unlimited resources and complete guarantee of success, would you be content with a satisfactory job? If you know that by simply striving for everything you could possibly want, that even if despite your best efforts you fall short, but you will reach much further than if you did not try at all, would you go for it?

By the simple virtue of being born in this generation, as the free citizen of a country with historically unprecedented opportunity, mobility, and wealth, we owe it to ourselves to make the most of our environment to pursue greatness. The human mind is adaptable beyond measure, and we can cultivate the necessary skills, knowledge, and personal habits, if we have the proper desire. As Friedrich Nietzsche opined, “He who has a why to live can bear almost any how”. This succinct summary of the human condition applies to our dreams as well - if we invest in a strong enough reason to reach the endpoint, the journey will take care of itself.