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Quotes

What is a real job?

In the old days, you went to work when the sun came up and you left to head home when the sun came down. Your wife packed your lunch and your relationship with your kids was a cursory grunting in their general direction on your nightly trek between the garage and whichever piece of living room furniture housed your liquor bottles. You did this for 25 years until “the workplace injury” and then you did it another 10. Then you were finished working and lived off the disability checks along with the fading hope that, at some point each week, the kids were going to call to say hi.

And then you fucking died and that was the end of it.

-Josh Brown in TRB

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Gold Quotes

Two Contradictory Thoughts on Gold

Two great contradictory thoughts on gold from Satyajit Das’s article in ET

 “Gold is money. Everything else is credit.”-JPMorgan’s words to Congress in 1912

 

“A 15th-century gold bug who’d stored all his wealth in bullion, bequeathed it to his children and required them to do the same would be more than a little miffed when gazing down from his celestial place of rest to see the real wealth of his lineage decline by nearly 90% over the next 500 years.”-Dylan Grice of Societe Generale

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Quotes

Rich Dad,Poor Dad and Bankrupt Dad

“Ricd Dad, Poor Dad” is one of the best sellers on Mumbai’s roads.The author Robert Kiyosaki was exposed as a fraud long time back by real estate veteran John Reed.Yet this did not stop some people from praising this dude as a genius.

Well, guess what, Robert Kiyosaki has now filed for business bankruptcy.

From Forbes:

Robert Kiyosaki, author of the bestselling Rich, Dad, Poor Dad series of financial advice books, is offering his fans yet another lesson in how the rich are different than you and me: they file for bankruptcy not because of ill health or unemployment related issues, but instead as a strategic business move.

Rich Global LLC, one of the corporate arms Kiyosaki has done business under, filed for bankruptcy protection in August, after it was ordered to pay just under $24 million to the Learning Annex and its chairman Bill Zanker.

Kiyosaki was one of the small-time mountebanks who made it to the big-time in the aughts by telling his forever falling behind audience that they could get ahead, they just had not learned how. The shtick behind the Rich Dad books was that Kiyosaki was sharing secret money-making strategies of the wealthy with his wage slave readers. The tips ran the gamut from ridiculous to illegal and downright hurtful and included advocating for insider trading,  arguing for the purchase of multiple real estate properties with little or no money down and telling followers they could purchase stocks on margin via unfunded brokerage accounts.

The Learning Annex was one of Kiyosaki’s earliest backers, and helped arrange a number of his most prominent speaking gigs in the early aughts. They were not alone. Oprah Winfrey had him on her show, and PBS ran his programming during their fundraising weeks.

So how did Kiyosaki, whom the website Celebrity Net Worth estimates is worth a cool $80 million, come to this pass?

Well, he didn’t come to any pass. He now conducts much of his business not via Rich Global LLC but under the rubrik Rich Dad Co. And it’s a corporate bankruptcy, not a personal bankruptcy. When the New York Post, which broke the story, tracked down Mike Sullivan, Rich Dad Co. CEO, he informed them that Kiyosaki would not be putting any of his personal fortune toward the settlement. As for Rich Global, Sulivan claimed it only had a few million in its coffers.

Of course, you could argue that Learning Annex CEO Zanker should have known better. No one has ever proven that Rich Dad, the man who supposedly gave Kiyosaki all his advice for wealthy living, ever existed. Nor has anyone ever documented any vast reserves of wealth earned by Kiyosaki prior to the publication of Rich Dad, Poor Dad in the 1997.

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Quotes

Maybe its better not to have too much money

Known as “GL” in the industry, Gopal built the G L Raheja real estate empire over five decades, during which time he gave India its first apartment hotel in Powai and Mumbai its first departmental store, Shoppers Stop. His companies are among the biggest private owner of land in Mumbai and possess properties in other parts of India, including The Carlton in Kodaikanal. He has one son, Sandeep, and two daughters, Sabita Narang and Sonali Arora. The immediate plea in his petition is to stop Sandeep from proceeding with board meetings on September 25 and later, which he says lack his consent.

According to the suit, the genesis of the family feud dates to the year 2005, when Sandeep began fearing interference from the brothers-in-law since his younger sister was detected with brain tumour and undergoing treatment. In 2006, Gopal, “being in absolute power”, rearranged the shares within the family. He retained 42% of the holding company, left nothing to the two daughters, and gave 58% of it to Sandeep, Durga and their two minor daughters with the condition that Sandeep abide by the Raheja family arrangement. After this, Gopal continued as the group chairperson.

But the feud, according to the plaint, did not end. In August 2011, Durga asked Gopal to buy a Rs 100-crore house in London; his reluctance to do so, Gopal says, led to the “unfortunate events and disgraceful behaviour the next month”.

On September 1, Sandeep called Gopal for a meeting along with his two sisters and a brother-in-law. In the meeting, the petition says, Sandeep tried forcing Gopal to sign over all the shares to him and his family. “Sandeep and his wife insisted on an immediate division…. They threatened Gopal that no medical attention would be given to him at home and that he would be left to die.” They also allegedly threatened the sisters.

Sandeep, according to the petition, took the keys to Gopal’s Bandra home, Raheja House, at Pali Hill. On December 29, when Sandeep and Durga were in London, assisted by a locksmith, Gopal entered his home and found it “uninhabitable”, with all the “bathrooms broken down and electrical fuses ripped apart”. When Gopal hired workers to repair the house, the suit says, Sandeep and Durga returned from London and threatened to file a “rape” case against the workers unless they left.

Ten days later, Gopal was “shocked to find that Sandeep had changed the lock to his office cabin in the office too”. Sandeep further humiliated him, the suit says, by asking the staff to report only to him. Gopal says he wrote letters to his son, expressing hurt and requesting him to be “reasonable”. But these pleas and requests for mediation were also rebuffed.

The relation soured further this year with Sandeep’s parents-in-law being brought on board the company, the suit says. On January 28, Sandeep wrote to Gopal, claiming “sole ownership and control” of the empire. The father and son thereafter exchanged acrimonious and emotional letters.

In July, Sandeep wrote a 26-page letter, where he accused Gopal of wrongful agreements with a third party. He wrote that, despite them staying together for 18 years, Gopal appeared to be under “the influence of one Chandrika, a Brahmakumari half his age, at whose behest this entire charade is being orchestrated“. Sandeep also accused his sisters of using their father as a “pawn” to “extort additional monies“. Gopal says the allegations were made to defame him. –from the TOI

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Quotes

How to get happiness equal to an extra 50000 $ a year

After analyzing data on the self-reported levels of sexual activity and happiness of 16,000 people, Dartmouth College economist David Blachflower and Andrew Oswald of the University of Warwick in England report that sex “enters so strongly (and) positively in happiness equations” that they estimate increasing intercourse from once a month to once a week is equivalent to the amount of happiness generated by getting an additional $50,000 in income for the average American.

Overall, the happiest folks are those getting the most sex — married people, who report 30% more between-the-sheets action than single folks. In fact, the economists calculate that a lasting marriage equates to happiness generated by getting an extra $100,000 each year. Divorce, meanwhile, translates to a happiness depletion of $66,000 annually.-from WebMD