Thứ Bảy, 1 tháng 9, 2018

Waching daily Sep 1 2018

Walk us through Capstone in 2008.

Sure.

So we unfortunately did very well coming out of the gates.

We actually started live trading for investors August, 2007.

And there was a number of events.

So you had the quant crisis of August, 2007.

And then we had made an extraordinary amount of money in January of 2008 through the Soc

Gen meltdown.

And so it gave us such a false belief in ourself, that we really felt that we were exceptionally

better than what we actually were.

And this is 4 or 5 months of managing institutional capital, and

it gave us this, in looking back on it-- reflecting it-- it gave us this false confidence that

we really were better than market.

Come September, October of 2008, I then made a decision based upon my experience of LTCM,

or the Asian crisis of '99, of 9/11 in 2001, that the VIX never really goes much beyond

40 or 45.

So talk about risk-on and risk-off.

We ran a relatively balanced portfolio, and I said, well, why would you ever have any

risk-off strategies in your portfolio?

Why would you have any defensive strategies once the VIX hits 40 or 45, because we all

know that the VIX is going to come back down again.

So I sold all of these strategies out, and essentially made a macro call that the market

was going to come down, and that we were going to be just fine.

We all know that that didn't happen.

And I'm not a particularly religious guy, and I found myself going to a Trinity Church

at the bottom of Broadway by Wall Street literally every day, like begging for forgiveness from

someone in terms of what have I done.

And so I actually built up a rapport with a vicar there.

And I'd only sit there for like 10 minutes to try and collect some of my thoughts.

And this is over like a three or four week period.

Did you tell him about the 45 threshold on the VIX?

At which, he would nod very compassionately and go along with whatever nonsense I was

talking about.

And I then would come back and it wouldn't stop.

And then I ended up buying back all of my strategies around about 65 in the VIX.

So what did it teach me?

It taught me that we certainly were better or smarter than the market.

It also taught me that the events that you think that the market is capable of - you

just don't know what the market is capable of - and that's what makes it so exciting,

in my opinion.

Is you really don't understand what the market is capable of doing to you, and that's why

you need to deliver such a humility and a process to make sure that you are around,

and you're an investor for the long-term.

For more infomation >> Appealing to a higher power in 2008 | Paul Britton - Duration: 4:02.

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Contentment Compilation - Duration: 16:19.

It was almost as if I had stepped onto a different planet.

One day I was

in the glitz and the glamour of Dubai,

the richest city of the world.

And the next day,

I was driving down the streets of Lusaka, Zambia.

There was garbage strewn about everywhere.

And people were walking and riding bicycles

because many don't even own vehicles.

Women pumping water from wells

and children wearing hand-me-down NBA jerseys

from the 1990's.

And then on the outskirts of town,

there were entire family homes

smaller than my living room.

It can be very easy for Americans

to see these kinds of things and to think,

"Wow, I feel so bad for these people.

"They're so poor."

Today I want to share with you something, though,

that a lot of sociologists and

psychologists and missionaries talk about.

It's the concept of absolute poverty

versus relative poverty.

Absolute poverty

is when you don't have what is absolutely necessary for life.

Water, food, clothing, shelter.

But relative poverty is different.

This is all about perspective.

So when Americans look at many African people,

they think they're so poor.

They don't have stainless steel appliances,

or high speed wi-fi, or

flat screen TVs in every room of the house.

But, do you want to know what I learned this summer?

I learned that many of these people in Zambia

are by no means poor. In fact,

they are much richer than Americans.

You see, these people understand

the words of the Apostle Paul

in 1st Timothy chapter 6,

where Paul says this,

I know so often I worry about stuff

in my life.

Getting more things.

Do you ever find this?

You want the upgrade.

The newer,

brighter, shinier, fancier things.

But the people of Zambia

seem not to care.

They're happy with what they have.

They're thankful

and they're content.

Knowing that you can be happy

with simply whatever God has given to you.

This is what true Godliness is all about.

Being content.

And this week we're going to take a greater look at

contentment.

And I'm going to share some stories of what

I learned in Africa.

And we're going to learn from scriptures how we can be happy and content

all the time.

It was maybe our fourth night in Africa.

And my wife and I were reflecting with

the nine teenagers that we brought on this mission trip.

And we were thinking about all of the experiences we had.

We went out to this very large school in a village outside of town.

We did a one-day Bible camp

with some Sunday school students in town.

We worshiped,

way outside in the middle of nowhere,

about two hours outside of town.

And as we were reflecting on all of these experiences,

I asked a question that really made everyone think.

Have you seen one person yet

who hasn't been happy?

And it really made us think because

we realized everywhere we went,

everyone we saw,

everyone was happy!

They greeted us with smiles and handshakes and hugs.

Whether it was in big city, Lusaka,

or a little small village in Mwembeshi.

There was this tangible joy

everywhere we went.

Well, then I asked the students a followup question

that I think was really life-changing for all of us.

I asked them,

"Where do you think you would be happier living?

"In Zambia?"

"Or back in the United States?"

And you know what?

Nine teenagers,

every single one said,

"I would probably be happier in Zambia."

This was maybe the most life-changing part of this trip,

when we began to realize

they don't have the anxieties and worries that we're used to in life.

No one there cares

what someone posts about Facebook and Instagram and Snapchat.

They don't have these schedules that are

busy. They're certainly busy but they're not

overwhelmed with

meetings and carting their kids all over town

to AAU games. And

they're not crushed with this push to succeed and

get ahead in life.

Do you ever feel that weight?

Or that burden of American life just pushing and pushing.

All those anxieties and worries were almost nowhere to be found in Zambia.

And I'll tell you,

it was very liberating and enjoyable to experience.

There's probably a lot to this.

But, I think a lot of it goes back to what Jesus says.

In his famous sermon on the mount,

in Matthew chapter 6.

There, Jesus tells us, "Do not worry."

Don't worry about tomorrow.

Tomorrow has enough worry of its own.

God will take care of everything.

Each day has its own trouble.

But the Zambian people understand,

God will get you through each day.

They know they have less than Americans.

They know their lives can be difficult

compared to what we experience.

But their treasures are in heaven and that's what they look forward to.

Maybe you feel things weighing you down right now.

Maybe you feel some anxiety and worry.

Listen to the words of Jesus.

In that famous saying we have in our culture,

"Let go and let God."

God will get you through this day.

And God will get you through tomorrow and the next day and the next day.

God will get you through every day,

until that day he welcomes you into his heavenly gates

where all the treasures are waiting.

That is what can give you hope

and true contentment every day.

Here's a fun quiz for you.

Maybe you'll win Jeopardy or HQ some day with this information.

What are the only two countries in the entire world

that name themselves as Christian countries

in their constitution?

Give up yet?

Well, one is Vatican City, which actually is considered a country.

And the other

is Zambia, the country that I visited this summer.

Now I'm not suggesting that America should declare

itself a Christian country and force Christianity on everyone.

I don't think that would go over so well.

But in my experience over in Zambia,

there's something to this.

There's something to everyone understanding

and having the common knowledge

that God is the backbone, the foundation

for everything that you do.

So, you go out to a remote farming village,

and there you see people who fully understand.

If God doesn't make the sun rise and the rain to fall,

they won't survive because they won't have crops.

Or, you can even go to the big city

where a lot of people are just trying to scrape by with

construction jobs and service jobs.

Some people have these pop-up shops,

no bigger than a shed in an American back yard,

where they sell basics for life.

They know

they need God to bless the so they can put food on the table.

Have you lost touch with this most basic concept for life?

I know I do sometimes.

I get so focused on my life

and my things and I have to earn this money and provide for my family.

And I want to give my children this future that I dream of,

that they dream of and I want to earn this great retirement for myself.

And I get lost in all these thoughts and suddenly I forget.

It doesn't depend on me.

It depends on God.

We would all do well to listen to the words of King David.

He wrote in Psalm 145,

almost three thousand years ago these words that are so special,

Maybe you don't depend on God

to help grow all the crops in your backyard.

But I want you to think about this intricate web that

God uses in your life.

Because there are farmers

and people who have crops.

And they ship them off to factories.

And there're truck drivers who deliver them to stores.

And there're store managers and stock boys and check-out clerks and

of course, you pay for those things with money.

And, whether you like your job or not,

you have some kind of income and you have

a support network of friends and family.

All of these things

God uses to bless you.

To open His hands and provide

everything that you need in life.

Learn something that I learned

from the African people.

Learn something from King David.

God will always provide

everything you need.

There I was, sitting in this

massive, beautiful church.

Ornate, gothic architecture everywhere.

A church, almost 170 years old, with over one thousand members.

This is my home church.

And there I was on one Sunday, not too long ago, thinking

how thoroughly disappointed

I was.

You see, the previous week,

I was worshiping in Africa in a hut.

A hut with a thatched grass roof, barely taller than I am,

held up with branches and small trees.

A dirt floor.

Logs to sit on for pews.

And I found myself, in my own church,

wishing I was back in that hut.

In America, we take

for granted our blessings

very often. But

I think we take for granted spiritual blessings too.

How about just having a church?

That hut we worshiped in, in Lufwanyama, two hours outside of Lusaka?

Their church burned down.

That's why they were worshiping in a hut.

Or how about having a church with four walls and

at least semi-comfortable pews and chairs to sit in.

Having congregations that sometimes are very large.

There in that hut, there were some two dozen people.

Most of whom walked to church;

some a very long ways.

And they had this pastor so dedicated,

he had another church 50 kilometers away,

and his motorcycle broke down.

So some days he would walk six hours

one direction

just to meet with those people.

So, there I am sitting in my church wondering:

Which culture is really rich?

And which culture is poor?

In those humble, humble settings,

in that hut in Africa on that Sunday,

these people still worshiped with such incredible joy.

You can't describe it.

You have to be there to see it and to experience the singing, the dancing, the joy in worship.

It was so rich.

It made me think of these words from 2 Corinthians 8:9.

Here's what Paul says,

Jesus Christ is king of heaven and earth.

He has all the riches of the universe.

And yet, he came here to become poor.

To serve us.

To set aside everything.

To suffer and die.

So that you

could receive all of his riches of his Heavenly kingdom.

I know that I learned,

this summer,

that I will never take for granted

any opportunity, no matter where it is, to worship and praise

such a gracious Savior.

And my prayer for you and for myself, for my family,

is that we never take for granted the spiritual blessings that we have,

the riches of Christ's kingdom.

Because that is where there's happiness.

That is where there's contentment

no matter the situation.

What an incredible summer I had.

Filled with blessings that I enjoyed with my wife.

We stood on top of mountains in Alaska.

We stood at the foot of Burj Khalifa, the talleststructure in the world, in Dubai.

We gazed in awe and wonder at Victoria Falls,

one of the natural wonders of the world in Zimbabwe.

And yet after all those things we saw this summer,

we saw even better things than that.

I saw my dear friend, pastor and former classmate

faithfully serving his very generous and kind people at his church

just outside Anchorage, Alaska.

And I saw little children singing and jumping for joy

at their soccer Bible camp and their Vacation Bible School

there in Alaska.

And I saw faithful

American missionaries with my own eyes.

I saw them training African native people

to be leaders and pastors,

to share the good news of Jesus with their fellow Africans.

And I met a wonderful African woman named Annie.

And Miss Annie took care of us every night and cleaned up after us.

And she made delicious food for us every night.

And I met Zambian men and women and children who worshiped in the kinds of joyful ways

that we Americans could only dream of.

As I experienced all of these things this summer,

if anything, I gained perspective.

And there's a verse that really summarizes this that I want to share with you.

It's in Ephesians chapter 4.

Here's what it says,

What a glorious thing that we have one God over heaven and earth

who has given us these beautiful mountains and rivers

and valleys and oceans to enjoy.

But even better,

how gracious is our God that he so loved

this entire world that he sent his son

for all of us.

For rich and for poor.

For young and for old. For male and female.

For black and white and everything in between.

For Americans. For Africans. For everybody.

Our God is so gracious that he has this love for us all.

Do you have things weighing you down right now?

I know I do. I get tunnel vision in life.

Like a horse with blinders on.

Focused on my life and my problems and all of my things.

If you're feeling that way right now,

I want you to think about your brothers and sisters in Christ.

In our one faith,

all around the world, they're going through the same thing.

But as you think about your fellow brothers and sisters,

I want you to think about this, too.

Even though you may never meet many of them,

one day,

one day you will see them all face to face.

When you see your own Savior face to face

in his glorious, eternal kingdom.

The Bible tells us to have our minds set on things above,

not on earthly things.

Friends, this is where you find happiness.

This is where there's true contentment.

With the encouragement of your fellow brothers and sisters around the world,

set your heart on things above.

And you will be happy, you will be content

every single day.

For more infomation >> Contentment Compilation - Duration: 16:19.

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Have you replaced the Tenant Fee Ban income yet? - Duration: 1:00.

I've spoken to literally thousands and thousands of Letting Agents and most people stand to

lose somewhere between 10 and 30 percent of their income from Tenant Fees.

Think about it, it's the upfront application fee, it's the renewal fees, it's the vacate

fees, the checkout fees, the check in fees, the letter fees, it's whatever, whatever.

So the question is, what are we going to do about it?

What are we going to do about the Tenant Fee Ban and all these changes?

How can we make changes in our business - start to educate and inform?

How can we justify our fees?

How can we stand out from everybody else in the market?

How can we compete with the onlines?

How can we protect our landlords, get them more money and make us more money too?

Because it's got to be a win-win here.

Ultimately how can we provide great accommodation for the tenants as well?

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