Papa B
Archive for Reviews
Book Review - Got Sun? Go Solar
Got Sun? Go Solar by Rex Ewing and Doug Pratt is not an exhaustive work on solar energy but it is an excellent primer on the subject. If you are clueless (like I was) and want to get a handle on the concepts and vocabulary of Renewable Energy, this might be a good place to start.
The authors give a basic overview of electricity and how it applies to solar energy, the distinction between grid-tied and battery-based systems, system sizing and the cost of producing your own energy.
E-Myth
I just finished reading E-Myth Revisited by Michael E. Gerber. (E-myth stands for entrepreneurial myth) Gerber cites the well-known failure-rate statistics for small business: 40% fail in 1 year. Of those who survive 1year, 80% fail in 5 years, and of those who survive 5 years, another 80% fail.
Gerber says most small business owners are technicians struck with an entrepreneurial seizer. This leads to a business where the owner is the business instead of the business having a life of its own.
Gerber recommends creating systems within your business so that you produce a franchise prototype. Clearly defined systems allow the owner to remove themselves successfully from the operation of the business and free them to do other things.
That concept of systematizing processes got me thinking about how my wife gets work done around the house. I talked this over with my wife and suggested that she develop systems that she could then turn over to our children so that she could free up some of her time to work on other things.
Trading for a Living
I just finished reading Trading for a Living: Psychology, Trading Tactics, Money Management by Alexander Elder
From Library Journal:
Soviet-born author and practicing psychiatrist Elder (director, Financial Trading Seminars, Inc.) shares his learning over the years as a professional trader and expert in technical analysis and his principle of understanding the three Ms (Mind, Method, Money)
I found Elder’s antagonistic view of the Market wearying after a few chapters. Elder’s spent a great deal of the book explaining how difficult it is to make money investing and how everyone is out to get you.
I did however find his information on money management solid and worth the read. In fact the word “slippage” has made it’s way into my family’s vocabulary because of this book.
I did however find his information on money management solid and worth the read. In fact the word “slippage” has made it’s way into my family’s vocabulary because of this book.
My major take away from this book is this: “The goal of a professional trader is to be a better trader.”