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Friday, November 16, 2018

Friday Feature Book Review: Collapse: How Societies Choose to Fail or Succeed by Jared Diamond 文明崩壊 上: 滅亡と存続の命運を分けるもの (草思社文庫) ジャレド ダイアモンド

Economics are a reality. The maths need to work. In this follow up by Pulitzer Prize award winning author Jared Diamond, he continues his detailed observations of human life and their global economic impact. He uses his training in anthropology to search for how people prosper economically or just disappear after a collapse. He has a very entertaining way of comparing ancient societies around the globe. He then compares these people with the current US population in the same locations. If you invest in real estate personally or professionally, this may change your longer term valuations.

This is really a scientific approach to various sections of finance. Real estate development, population control, and renewable energy impacts on economic wealth and prosperity. Using his wonderfully clear explanations with just enough numbers to keep you in full attention, you see a bigger picture of the world economy. The cost of military power, basic food and resources bring unexpected changes to the economy of each society observed.

Empires rise and fall, be they Roman, Mayan or Anasazi. Water and cheap energy show how certain communities rise and fall. They do so very quickly in fact, they collapse. Water is a key resource impacting the economy of California, and this book reflects how the modern world may have to change, as a result. South East Asia, the Middle East, Africa, and many other water bottle necks around the globe have a water crisis on the horizon. Major global cities like Hong Kong, New York or Mumbai may have to move.

Will people really be able to live in Southern California in the future without water? Will parts of India or China be able to sustain populations without local water supplies? If global warming melts the ice on top of the Himalaya mountains without replacing the snow, will the great rivers like the Indus or Ganges just stop flowing? Massive migration of large cities may be needed, or wide scale famine may spread afterward anyway.  The impact of Syrian refugees into Europe, will seem very minor by comparison.

Jared Diamond, paints many dark worse case scenarios in order to focus attention, but does offer the balance that they is a choice. Some societies may take the best action for survival long term. Eco habits and organic farming seem to be the kind of choices that the author hopes more people will make. Energy in the middle east may not be valuable in future, yet over half of all food is imported. What happens when there is not enough money for food? Will the Arab spring be a small sign of change to come in that region?

The Top 3 Takeaways from this book that impact any reader are:

1) There is a lot to learn about how the USA, China or India thinks about the world and their economic policies. Many hard truths cannot be escaped. Globalization has both winners and losers. Some economies may fail quickly and actually collapse.

2) The economies of Europe or the USA cannot expect to stay number one without knowing how rivals economies are working and taking advantage. Facts on Africa or Russia need to be learned. Differences need to be understood.

3) When becoming a successful global investor, you have to put in the long hours, work hard and learn by experience. You have to consider a wide variety of scenarios. You never get lucky long term.

Local sustainable farms in large cities with easy transport of locally grown food, seem to be a successful long term goal. Information is now widely spread via the Internet. This was never the case with the Roman, Mayan or Anasazi empires. This access to figure out how to avoid the mistakes of the past is hopefully the choice we make. Will the current age of information help us learn to avoid the great mistakes of the past? Only time will tell, but there is a chance to minimize misery. A very thought provoking book, highly recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo



      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, November 9, 2018

Friday Feature Book Review: Why we want YOU to be RICH by Donald J. Trump and Robert T. Kiyosaki あなたに金持ちになってほしい: ドナルド・ トランプ + ロバート・キヨサキ

This book was a positive surprise. I expected the typical Trump style saying how "Money is a Game, and I play to Win!" However, it was quite the opposite. It was subtle and well thought out. It was even understated. Not at all what I expected from our US President. The main concept is that for many Americans, and many others globally, very basic financial intelligence is often lacking. If the average person had better insight into how finance worked, and had a higher financial IQ, they would be able to invest with more confidence and benefit greatly. 

Donald Trump teamed up with Robert Kiyosaki, best known for his own best seller "Rich Dad, Poor Dad" because of an overlap at a conference in Chicago. Both were speaking at a real estate conference there, trying to help the many there to learn how to better invest in real estate. Both were speakers and fate crossed both of their paths. A spark started and as they got to know each other, a clear need to help more people learn, was found to be in common. The book started from there, but continues into a lot of depth that is not expected at the beginning. It is a clear set of rules and guidelines on how to be rich by investing. A key point is to enjoy the process, and see it as a game that is fun to win.

What I could not believe was the clear style of flowing ideas about how any average person could learn to be a much better investor. It touched on how China was a huge economic story with plenty of opportunity. It also underlined India, and how the rise of both of these super economies will be worth knowing more about. Facts, clear facts were used that showed clear depth of understanding about both economies. I have to stress how well thought out these strategies are revealed, unlike some of his politics.

This book was written over 10 years ago, but certainly has a clear agenda on how the USA can be better managed politically today and in future. The presidential aspirations are included in many of the arguments presented. This is not another basic investing 101 course that any financial advisor could give. Things like "live below your means, save, and diversify into mutual funds etc". Not at all. It actually questions it. Why would you listen and take advice from a person who takes the subway, when you drive a Rolls Royce? How wrong is it to give great respect to a US financial advisor at the retail level, when it takes fewer hours of study than a massage therapist accreditation?

This is the mentality presented and it is a good one. Not everyone can be rich, but many with the desire do not have the right tools or concepts solid in their financial education. this is who the book is aimed at, and it does so very well. There are three types of investors: (1) non-investors with no money and no financial IQ, (2) savers with some money and limited financial IQ, and (3) investors with a lot of money and high financial IQ. This book is targeted at helping people in group 1 and 2, be a successful investor like number 3.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is a lot to learn about how Donald J. Trump thinks about the world and his economic policies. His political campaigns have given only a superficial view. He has written many books and they include his policies. There is no single book with all of his policies, there are many, so read them all.

2) The economies of China and India are big and need to be better understood from every angle. The USA cannot expect to stay number one without knowing how rivals economies are working and taking advantage. Facts need to be learned. Differences need to be understood.

3) When becoming a successful rich investor, you have to put in the long hours, work hard and learn by experience. You cannot learn to swim from any text book. Only by doing deals and learning what works and what doesn't, can you really become rich and successful.

This was not what I expected to written in a style that I thought I would recognize. This is only one book, but certainly gives a clear indication of what the future president make be thinking about global economies. finance and the USA. That seems worth absorbing and keeping in mind when seeing what first moves come out of this new US president and his administration in 2017. This book reads like the revealing of a man's soul and true colors, the key to a unique and complex personality. A very surprising book, highly recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo



      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, November 2, 2018

Friday Feature Book Review: The Education of a Speculator by Victor Niederhoffer (ex George Soros Trader) "金融市場投機家の教育": ビクター ニーダホッファ(元ソロスのトレーダー)

Any trader who is so good, he worked for George Soros, must have something special. Victor Niederhoffer, was that man, and he was certainly something, and still is. Not only did he go to Harvard and get his PhD at the University of Chicago, he was a 5 time US National squash champion, board game lover, horse racing enthusiast, and music fan. He is pretty complex due to his New York upbringing in Brighton Beach, Brooklyn. 

With a father who was a cop & squash player, and an uncle who liked to buy & sell stocks, a lot of influences came to make up Victor's personality. Why does a trader who takes risk for a living with USD100Million or more, not wear any shoes in his office? Why does he keep pictures of the Titanic in his trading room and reminders of great men having great failures? Why does George Soros nick-name him looser? There is another image of him at the beach with george. Victor is out in the waves and George is closer to shore in a safe zone. A large wave is about to come crashing down onto Victor. It represents 2 different views on when market waves are safe to trade in. You soon have more questions about him than the money he makes by trading for others.


This book was written during a shining highlight peak of his trading career, well before any Titanic sized trading loss that was to come later on. This book is a self written explanation of how could he have got to his trading role and risk taking success. It is not a simple system that he developed, or an edge that he uses against a market. It is an entire process of thought. He is a great speculator because he is great at cross pollination of his many influences.

In many ways, his education comes from observations made in one area, and then applying them into a very new totally different unrelated area. How can you combine championship squash play strategies to price reactions from a US Fed announcement on interest rates? How do you make clear correlations between how bookies size up horses at the race track, and also see stock prices move in a very similar way to a keen trained eye? You do so in a very unique way. The amazing thing you learn in this book is that a speculator can become great by using any combination of disciplines but only if all are well observed.


This is not a light read. In fact, I would call it intense reading, You need a few moments to fully absorb what you take in. It reminds me of sipping fine cognac. This book is not something you go through fast, just like how you do not guzzle down XO cognac. You take is small amounts, and savor them. That is how best to fully appreciate this well written explanation of a great trader's personal roots, trials and tribulations. This 414 page testament to a 360 overview of influence, was a National Bestseller, and deservedly so.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is a lot to learn about how to be a long-term successful trader, and no one path will do. The more paths you can take, the better. There is no single way, there are many, so learn them all.

2) The best traders know how to make money and keep doing what they do best by observing trends and possible patterns. Squash or any other sport keeps the mind sharp when in competition.

3) When becoming a successful trader, other similar disciplines may be obvious to learn from. Horse racing tracks that "bet on the ponies" can be a great insight into how horse betting crowds react like investors in the markets.

The most sad reality of this book though, is that it came out in 1997, just before a great fall. Like the Titanic image kept to balance human hubris in his trading room, the fall in his risk taking did come and hit hard within 2 years. Going broke at such an age after such a high, is discouraging for anybody who admires & applauds, such amazing courage to win against the markets. Maybe the house does win in the end? Maybe George Soros was right, Victor was a loser in the end, or at least for a time, before he of course, started trading again. Like any Greek tragedy, the hero must suffer defeat, and hopefully rise again. This book reads like the revealing of a man's soul, the key to a unique and complex personality. An amazing book, highly recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo



      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, October 26, 2018

Friday Feature Book Review: RICHISTAN by Robert Frank (America's New Rich) ザ・ニューリッチ―アメリカ新富裕層の知られざる実態: ロバートフランク

The new global home of Ultra High Net Worth Individuals is now called Richistan, a curious new term. Many have done well in the post Lehman financial crisis. The 1% of wealthy citizens known as Richistanis, are living in Richistan places including Singapore, London or New York, and are all spreading. There were 3.7 million US millionaire households in 1995, 9 million in 2004, and more than 15 million as of 2014. The 1% varies is size depending on the state you reside in within the USA. In Connecticut, you need over US$620K of income, but in New Mexico, it is less than US$300K. This book explains how this new segment of society enjoys their lives. 

Author Robert Frank, takes us on a very vivid journey that paints a very clear picture. He gives a great account of how these new families start out, and upgrade to levels of daily consumption that have never been seen. Lower Richistan have families in the US$1-10M in wealth, with a primary residence of $810K. Middle Richistan has $10-100M in wealth and a primary residence of $3.8M. Upper Richistan is the $100M crowd with a residence of $16.2M. 

It seems there is always another level of wealth to aspire to, and services that the rich want that soon become a need. The great mind candy that I enjoyed most, explained how a single mother developed a butler school. It was aimed at these Richistani families, and grew well beyond her early expectations. It turned out to be a real need and niche market. You learn that beach homes in the Hamptons in summer, or ski chalets in Aspen in winter, need to be better served in Richistan. Good help is indeed, hard to find.

There are many other entrepreneurs featured like Tim Blixseth who started Yellowstone Club. It is a gated private community resort in the rocky mountains of Montana. Ed Bazinet made more than $250 million from the sale of his ceramic mini-village items, and now tries to focus on how to spend his cash on a new Gulfstream jet and modern art collection. Small hobby experiments can grow into very big businesses when the market timing is perfect. Any person can make a lot of money from any idea when the timing presents itself. Who these entrepreneurs are, and how much money they make, is a guilty addiction and deep fascination for myself. These stories of going from nothing to something, represent the American dream in many ways.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is a lot to learn about how to be rich and successful in any society. You have to learn about the key market factors, and adapt to them constantly. Small ideas can grow into big businesses fast.

2) The best entrepreneurs know how to make money and keep doing what they do best. It is in their DNA and never turns off. You need to maximize the power of your ideas or inspirations with all business opportunities.

3) Becoming a successful entrepreneur, follows no pattern. It is the personal drive that is the common pattern, but not the business itself. The determination needs to be at the core. 

The most encouraging pattern though is that there often is none. Money can be made from almost any business by a very driven entrepreneur. Once there, the goal is to find the right residence in Richistan, and try and settle down. It does not come naturally for them, and they often find themselves starting a new business opportunity. Settling down is not in their DNA. That may be the most common thing among these Richistanis. This is a great luxury read that is inspirational, and well worth a weekend!  


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo



      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891

Friday, October 19, 2018

Friday Feature Movie Review: Crazy Rich Asians by Kevin Kwan クレイジーリッチ : ケビン・クワン (富裕家族のテーマ)

I enjoyed this High Net Worth movie immensely. If you can never have enough gold, diamonds, cars or homes (the bigger the better), then this film is for you. It is the story of cultural contrast between old money vs new money in Asia today. The story is not the same as the book, but very close and easy to follow. There is a great cast with a wide range of characters that many will recognize in type. The transition from book to movie is very smooth indeed, like the silk dresses on screen. The opening seen may be in London, but that just sets the stage for the real beginning in New York some 24 years later. Clearly over the last 10 years, the world has seen that Asia has arrived. Some are indeed rich, and some are Crazy Rich!

The main plot then moves our hero & heroine to Singapore & Malaysia. Another cultural clash is discovered between the true born and bred Asian hero and his very American heroine with an Asian background. The rich son from Singapore, can live under the radar in New York. He is not recognized, no paparazzi, no family pressure, just true freedom from his obligations that are expected to come. We meet many unforgettable characters, only found in Asia, the new shangri-la & wealth magnate that Singapore, has now become. As the author is from a prominent family himself, Kevin Kwan. He did an excellent job writing about what he knows best, his family in Singapore. He perfectly described them, with all of the relatives around the region that go with it. 


The character types were all Asian, and also very wide in variety. This is rare in Hollywood cinema, and hopefully can be a good copycat case with future films with more Asian themes. What I liked most were the accents. Singlish was in many of the scenes but so was a good reflection of Asian society in Singapore, with accents from Hong Kong, Taipei, Sydney, New York and London. Not all the people you meet in Singapore, sound like they are from Singapore. Overseas boarding school or university can and does change you. Sometimes for the better, sometimes not, but often permanently in accent anyway. I liked the mix of accents I heard on scene. I recognized many them instantly, and they all worked for me.


The Top 3 Takeaways from this book that impact any reader are:

1) This is the story of very special Chinese people in Asia with hard wired talent for the times they live in. The pattern shows how drive and perseverance often wins the way to immense wealth.

2) The ability to work with family and friends, even frenemies, needs to be learned in life. When you share the same space, you need to get along. Only once you start to learn that in Asia, you can then proceed to succeed. Loners often fail and lose out.

3) This is not about anyone happy to be average or make a living. The common pattern shows that there is always a deep driver to push any rich person to a level few others ever reach. There may be lucky events, but the total result of wealth is often about hard work over a long time, proper manners, personal sacrifice, and not pure luck. Luck runs out.

Chinese traditions are indeed very old, perhaps 7000 years or more. It is a lot of history, and can still be seen today in this story's modern cast of movie characters. There is no one China, but many, and I am glad that point was made. It made the story more believable. The huge homes seen on the screen were very Ultra High Net Worth inspired. Sentosa island and the Marina Bay Sands hotel certainly are Singaporean landmarks today, just like the hawker stalls that really do have Michelin stars. It certainly makes you want to visit the city in person. Highly recommended for anyone who wants a good escape on the big screen.


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, conferences and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance! 

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Linkedin Instagram or TwitterWe are the world's #1 recruiter on Twitter, with over 50,000+ followers globally! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズLinkedin Instagram またはTwitterでフォローしてください 世界中のTwitter第1位リクルーター50,000以上のフォロワー既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.

Tokyo                                          Tokyo



      Mark  Pink                               Shinichi Nagasawa
Direct + 81 3 3505 3891              Direct + 81 3 3505 3891