Tag Archive: Jim Cramer


“You can’t foment. You can’t create an impression a stock is down. You do it anyway because the SEC doesn’t understand it.” – Former Goldman Sachs hedge fund manager Jim Cramer

“Apple is very important to spread the rumor that both Verizon and AT&T have decided they don’t like the phone (iPhone). It’s very easy to do. It’s also easy to spread the rumor the phone is not ready for Macworld.”  — Cramer explaining how shorting hedge-fund managers drive down a company’s stock price through rumor mongering

“I want the Jim Cramer of CNBC (Mad Money host) to protect me from that Jim Cramer (Goldman Sachs hedge-fund manager) – Comedy Central’s Jon Stewart

Many of us watched Jon Stewart take apart Jim Cramer on Comedy Central’s The Daily Show With Jon Stewart. The legendary 2009 interview went viral, including Cramer’s bragging about short selling, even among those who do not subscribe to the notion of buying low and selling high.

Here’s a predictable sports metaphor that brings into question the morality of short selling.

Every sports fan knows there are teams that far-too-many of us love to hate (i.e. New England Patriots, New York Yankees, Los Angeles Todgers …). We will happily pop open a cold one and sit in front of the Hi-Def and root against these teams and many others. We want them to lose, and lose big.

Having acknowledged this indisputable fact of life, will we spend our hard-earned money to travel to their respective stadia or watch them on our home team fields, courts, ice rinks solely to indulge in an exercise of Schadenfreude, delighting in their misery when they lose? You are rooting against them and not necessarily for your team.

Don’t we have better things to do with our money and time than negative rooting?

Moving from metaphor to reality, should the cunning few take their discretionary investment dollars and place a trade – a short sell – with the intent of cashing-out based not upon a publicly traded company’s stock rising, but instead losing value for the vast majority of investors and their employees?

Before going any further, Almost DailyBrett must acknowledge that short selling is perfectly legal (it shouldn’t be), but the question remains: Is it moral? Yes, some may be wondering how morality and Wall Street work in tandem. Believe it or not, there is synergy when it comes to investing and morality.

For example, each of America’s 5,900 publicly traded companies on the NYSE or NASDAQ is legally required to practice fiduciary responsibility (don’t glaze over). Translated: Every company is obligated to do the best job possible to drive the top line (revenues) and raise the bottom line (net income or loss).

The beneficiaries of fiduciary responsibility are America’s Investor Class, the 55 percent of our nation that invests in mutual funds, bonds or stocks. When “Wall Street” is attacked, the hopes and dreams of literally millions for a comfortable retirement, their children’s college education, their donations to worthy charities, their once-in-a-lifetime vacations, are under siege as well.

The Big Short

“Stormy weather in Shortville … “— Tesla CEO Elon Musk tweet mocking short sellers

The literally millions of short trades fly directly in the face of the aspirations of middle-class and lower-upper class investors, who realize you can’t finance dreams through negligible bank interest rates and ping-ponging real estate. That’s why they turn En-masse to equities, bonds and mutual funds (e.g., IRAs and 401Ks).

For example, there are those (including the author of Almost DailyBrett) who invest in Elon Musk and Tesla. They are supporting the development of electric cars, ion lithium batteries and solar power, all intended to transport millions and provide energy – all without contributing to climate change.

And yet 31 million of Tesla’s (NASDAQ: TSLA) 163.1 million shares are sold short or about $8.46 billion in market capitalization or value that these traders are hoping will simply plunge big time to their greedy benefit.

Alas for them and hooray for the rest of us the Tesla short sellers are taking it in the shorts.

As we saw in the Oscar-nominated for Best Picture, The Big Short, there were cunning and callous short sellers who bet big time – and won – against the U.S. real estate market and thousands of underwater and underperforming mortgages.

They won, while literally hundreds of thousands lost their homes or were trapped in properties they could not afford, thus triggering the Great Recession of 2007-2008.

Almost DailyBrett believes the government regulates enough thank you very much. But should the feds (e.g., SEC, DOJ, FTC) take a long-and-hard look at short selling?

If the goal of the shorts is pure unmitigated greed, while literally hundreds of thousands suffer and see their hopes and dreams dashed, then short selling is not only wrong morally, but it should be frickin’ illegal as well.

http://www.goldmansachs.com/

http://www.biography.com/people/jon-stewart-16242282

http://www.cnbc.com/jim-cramer/

http://www.cc.com/video-clips/iinzrx/the-daily-show-with-jon-stewart-jim-cramer-pt–2

http://www.cc.com/video-clips/gliow5/the-daily-show-with-jon-stewart-jim-cramer-pt–3

https://www.nytimes.com/2015/12/11/movies/review-in-the-big-short-economic-collapse-for-fun-and-profit.html?_r=0

http://www.reuters.com/article/us-tesla-stocks-idUSKBN17522H

https://finance.yahoo.com/quote/TSLA/key-statistics?p=TSLA

“After taking your PR classes for the past three years, I feel confident to go out into the world of PR communications professionals. I will miss your enthusiasm in the classroom every day, and writing your two-page executive memos! I can’t thank you enough.” – Graduating Central Washington University Public Relations Student

“I have learned more from your classes than all the other classes I’ve taken combined, and that’s not just including lessons having to do with school. You taught me to take pride in my work, and to put in the effort to do my best. I honestly do not know if I would be where I am today, or have the future that I see myself having if it weren’t for you.” – Another Graduating Central Washington University Public Relations Student

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Trust me when I say not all student reviews are so positive.

When they are, you treasure each and every one.

Most of all you don’t take them for granted because there is always another opinion.

What we call the “Rule of One.” There is always at least one student, who quite frankly hates your guts and even loathes the very ground you walk on. Sigh.

And then there is the student, who can quote back what you said.

In this world of texting, Snapchatting, mobile devices and old-fashioned laptops, breaking through and instilling even ein bisschen wisdom seems almost miraculous.

A professor can prepare. She or he can spend hours researching. And devote even more time to tinkering with PowerPoints and video. Finally, the time comes to deliver the lecture, coax questions and then ask two key rhetorical questions:

  1. Was anyone listening?
  2. Does anyone care what you have to say?

One of my students provided me with a thank you card with valuable “Kevin Quotes” including a smiley face.graduation2016

Here they are with an Almost DailyBrett commentary under each one. They are offered in the exact order chosen by the student writer:

  • “Buy on rumor; sell on news” Almost DailyBrett: This ubiquitous expression in the late 1990s directly led to the Securities Exchange Commission (SEC) promulgating Reg. FD (Fair Disclosure). Corporate chieftains could no longer “whisper” meaningful tidbits to favored financial analysts (e.g., Goldman Sachs, JP Morgan, Fidelity, Morgan Stanley) allowing their clients to buy on the whispered rumor and then sell on the actual news.
  • “Your Brand Is In Play 24/7/365” Almost DailyBrett: Donald Trump in particular should pay close attention to this axiom. With instantaneous global communication through a few key strokes, digital communication can advance a personal or corporate with lightning speed, and destroy it just as quick.
  • “Digital Is Eternal” Almost DailyBrett: The complement to your brand being in play 24/7/365 is that all digital communications are permanent, enduring and can be resurrected by hiring managers, plaintiff attorneys and others who can hurt your reputation and/or career.justinesacco
  • “The Long and Short Program” Almost DailyBrett: The Olympics figure skating competition metaphor pertains to 10-K annual report letters and 10-Q quarterly earnings reports respectively. The former has more flexibility, while the latter must give precedence to GAAP (Generally Accepted Accounting Principles) and include revenues, gross margin percentage, net income, EPS, cash-on-hand and dividends (if applicable).
  • “Don’t Be a Google Glasshole” Almost DailyBrett: Guess, I really did say that …
  • “Buy Low; Sell High” Almost DailyBrett. Every one of our corporate communications/investor relations classes began with this chant. One must understand profit margins.
  • “Do Not Buy Stock in Enron” Almost DailyBrett: Don’t buy a stock just because it is going up. You need to understand a company’s raison d’ etat before you commit funds. There is a real difference between investing and gambling. Those who gambled on Enron lost everything.
  • “How Does a Company Make Money?” Almost DailyBrett: Bethany McLean of Fortune asked this basic question to Jeffrey Skilling, now imprisoned former Enron president. The Harvard-trained chief executive needed an accountant to answer this most basic of questions. McLean smelled a rat.
  • “Stocks Are Forward-Looking Indicators” Almost DailyBrett: As Wall Street wild man Jim Cramer of CNBC Mad Money fame always states” “I don’t care about a stock’s past, only its future.”edwards1
  • “Tell the Truth, Tell It All, Tell It Fast. Move On” Almost DailyBrett: These 11 words are the crux of effective crisis communications. Disclosure is inevitable. You can manage or be managed. Former presidential candidate John Edwards is the poster child for failing to follow this advice.
  • “Corporate America Needs Better PR” Almost DailyBrett: Amen

Appreciate the nice words. Even more: Thanks for listening and learning.

https://www.snapchat.com/

https://www.sec.gov/answers/regfd.htm

https://almostdailybrett.wordpress.com/2015/04/08/the-internet-where-fools-go-to-feel-important/

https://almostdailybrett.wordpress.com/2015/05/25/the-mother-of-all-weak-arguments/

 

 

“Bulls make money, bears make money, pigs get slaughtered.” – CNBC Mad Money host Jim Cramercramerpigs

Which decision requires more mental gymnastics?

When to buy?

When to sell?

The author of Almost DailyBrett humbly opines that when to sell is the tougher call.

Why?

There are two kinds of remorse: ‘Darn it the stock kept going up after I sold’; and the worse one, ‘I could have sold when the stock was up, but I was a pig … and oh fiddlesticks, now I am selling when the stock is down.’

Yep, there are a lot of potential could-of, would-of, should-of when it comes to selling.

So what should you do in the view of this humble retail investor (read: Charles Schwab account)?

Don’t Fall in Love

“…Sometimes the most obvious question really is the question. In Enron’s case: How do you make money? – Bethany McLean, Fortune Magazine

Preparing to teach Corporate Public Relations/Investor Relations to Central Washington University seniors and a few juniors starting this coming Wednesday, yours truly will pose the same simple question that Fortune’s McLean posed to Enron’s Jeffrey Skilling: “How do you (Enron) make money?”

Communicators need to have elevator pitches at their ready when asked this very same straightforward question about their own employer. The same is true for investors: How does a company make money? If the answer is clear; you like the company; you understand the business strategy; you have done your homework including consulting with your financial advisor, then it may be time to purchase shares of the company stock.bullandbear

This particular company’s stock is now part of your diversified portfolio, which in turn represents a portion of your retirement savings, a child’s college education, that dream vacation etc.

All is good, but when does it make sense to sell?

Buy and hold is a sure loser. Why? At some point, stocks will stop growing. Your invested company certainly will change, and not necessarily for the better. Circumstances may shift and a wave of caca may hit a company or an industry.

Remember the Internet bubble two decades ago? It burst.

Remember the housing bubble a decade ago. It burst.

Don’t fall in love with your securities. Follow your instinct and your plan. When it is time to pull the trigger and unload the stock, then sell the shares.

Have a Plan

“I love the company. I hate the stock.” – Jim Cramer on Tesla (NASDAQ: TSLA)

Okay, it’s time to confess: I fell in love with the Elon Musk Ion-Lithium Battery/Electric Car story at Tesla. Yes, I bought the stock and road it up and down (pardon the pun) and eventually got tired of the downward roller coaster.muskcar

Before I weighed selling, I considered at what average price point did I buy the stock and how low would it have to go before I would sell the stock? It hit that point, and it was time to sell.

Maybe at some future time, it will be low enough to once again purchase the stock, but only when one is convinced the company has a realistic plan for long-term profitability.

The same is true when selling a stock that is going up. Social media stock LinkedIn (NYSE: LNKD) recorded a blow-out quarter and the stock exceeded my prearranged sell price point. As Joseph Kennedy reportedly said: “Never apologize when taking a profit.”

And we should never worry about paying taxes on our profits; profits are taxable.

The point here is to follow your game plan and sell when it’s time. That’s a good thing, really.

What are some other signs that it is time to sell a stock?

  • The Music Stopped: Once upon a time, Intel (e.g., microprocessors), Microsoft (e.g., software operating systems) and Cisco (e.g., Internet routers and switches) were literally rocking and rolling. We couldn’t get enough of these stocks until … the music stopped. The PC is yesterday’s news. The 1990s came and went. It became time to sell and move on.
  • Commoditization: Just like Intel’s microprocessors became a commodity to serve as the brains of social, mobile and cloud, the same is true for all other semiconductors and those that build semiconductor manufacturing equipment and electronic design automation (EDA) software. Intel’s rumored takeover of Altera, similar to Avago’s absorption of LSI Corporation, are more signs of industry consolidation. If you have not sold already, it’s past time.
  • High Volatility: Sometimes an investor can benefit from a highly volatile stock. A perfect example is Salesforce.com (NYSE: CRM). Lost track of how many times, yours truly has bought, sold, bought, sold, bought … this stock. As long as the trend line is consistently up, it’s okay to let go of the shares now and then, only to become reacquainted at a later date.
  • New Management: Tim Cook is proving that there is life at Apple following the ultimate demise of Steve Jobs, but that is the exception not the rule. Companies change. Business plans shift. Circumstances change. Markets explode or implode. Almost DailyBrett has always followed the mantra that if the old boss or new boss is a bosshole, it’s time to pass on the stock or sell the stock. Translated: Stay away from Larry Ellison and Oracle (NASDAQ: ORCL)
  • No Balance Between Fiduciary and Corporate Social Responsibility: The best run publicly traded companies do NOT see “doing well” and “doing good” as being mutually exclusive. Publicly traded companies with their brands under a digital 21st. Century microscope must appreciate their respective brands are trading in the cloud 24/7/365. Worshipping exclusively at the altar of fiduciary responsibility will no longer cut it. If so, it’s time to sell.
  • Caca Happens: Planes land at the wrong airports (e.g., Southwest). Companies name shoes (e.g., Umbro) after the cyanide gas used in Nazi concentration camps. The CEO falls dead in the backseat of a car (e.g., Texas Instruments). Oil wells explode and gush on global video for three months (e.g., BP). Guano hits the fan. This is precisely the reason not to fall in love with any stock.

Sometimes, it is time to say goodbye.

Breaking up is hard to do.

http://www.thestreet.com/story/10292084/1/bulls-bears-make-money-pigs-get-slaughtered.html

http://en.wikipedia.org/wiki/Joseph_P._Kennedy,_Sr.

https://almostdailybrett.wordpress.com/2011/07/21/what-happens-when-the-music-stops/

https://almostdailybrett.wordpress.com/2013/10/06/how-does-a-company-make-money-2/

https://almostdailybrett.wordpress.com/2014/07/18/donate-to-united-way-or-invest-in-tesla/

http://finance.yahoo.com/video/cramers-stop-trading-tesla-motors-135400997.html

https://almostdailybrett.wordpress.com/2014/01/02/farewell-lsi-logic/

https://almostdailybrett.wordpress.com/2011/12/13/fiduciary-responsibility-vs-corporate-social-responsibility/

 

 

 

 

 

 

Snap. Crackle. Pop.

Silicon Valley and other mass communicators are enamored when it comes to threes.

CNBC’s investment guru Jim Cramer talks about the three moving forces in technology: Social, Mobile and Cloud.

socialmobilecloud

Threes are easy to remember, fours or fives, not so much.

At LSI Logic, we were fond of talking about our three C’s: Communications, Computer and Consumer.

These were our three strategic markets. The three C’s were easy for customers, employees and owners (e.g., investors) or the acronym, C.E.O., (another three) to remember.

In this spirit, let’s talk about the Almost DailyBrett Communication Big Three.

These are an absolutely essential trio of communications skills, most in demand in the marketplace, and which need to be taught by our colleges and universities.

Drum roll: Persuasive Writing; Financial Communications; and Social Media.

Think of it this way: The first two are analog in nature and the latter is digital.

Compelling Writing Skills

Writing goes back to the first publicity campaign on behalf of the all-powerful Pharaoh, the Rosetta Stone. He was awesome, and if you need proof just check out the hieroglyphics on the smoothed surface.rosetta

Johannes Gutenberg speeded up the process with his Mainz, Germany printing press in the 14th Century, and now the acceleration is at warp speed with wireless communication devices.

Despite the unprecedented ability to communicate in nanoseconds to virtually any spot on the globe at any time, the old-fashioned skills of developing compelling, credible and accurate copy under deadline pressure has never been greater. For some, writing is a natural gift that comes easy. For others, it is a laborious process that can be perfected with practice.

Starting this fall, your Almost DailyBrett author is teaching Introduction to Public Relations Writing at Central Washington University. My 20 students are going to be asked to produce the following:

  • Curriculum Vitae or resume, emphasizing the student’s professional and academic accomplishments with quantifiable measurements
  • Twitter-style cover letter applying for an entry-level public relations position and emphasizing the student’s personal ROI or Return on Investment
  • Complete LinkedIn profile including the same elements of the resume, plus a professional mug shot, three references and at least 30 connections
  • News advisory targeting legacy and/or digital native media informing and/or inviting them to attend and cover an upcoming event
  • News release providing information about a breaking news story, employing the inverted pyramid and using the five W’s – What, When, Where, Who, Why – and the one H – How
  • Pitch to a selected reporter, editor, correspondent, blogger or news aggregator about a newsworthy story and offering assistance
  • Copy for a 30-second radio or television PSA or Public Service Announcement on behalf of a non-profit agency
  • Chief executive officer strategy letter to investors, analysts and employees outlining your selected company’s business strategy and future prospects
  • CSR or Corporate Social Responsibility letter to company employees about efforts your chosen corporation is making to safeguard employees, protect the environment and serve the communities in which the company does business
  • Crisis communications news release – written under deadline pressure – announcing steps a company has taken to address the crisis and pointing to the future
  • Four personal blog posts, emphasizing public relations skills and commenting on breaking news events
  • Two-page executive memo with bullets and subheads introducing a subject, examining the factors, and recommending a course of action

The philosophy behind these assignments is the only way to really become effective at persuasive writing is to Just Do It!

Financial Communications

Many right-brain types, the very people who opt for Journalism school, avoid figures at all costs. And yet, the numbers will find them.

We now live in a world of “big data,” particularly those companies that are publicly traded. Chairman Mao is probably rolling over in his grave as PRC-based Alibaba takes its predominate Mainland China digital retail play public this Friday with shares expected to be initially priced between $66 and $68.

alibaba

Right-brain students need to figure out how to make peace with numbers. UNC Professor Chris Roush (Show Me The Money) states ex-cathedra: “Behind every number is a story.”

Hmmm … that means there are stories to be told about these numbers. In addition, the Securities Exchange Commission (SEC) requires these stories to be told to all investors, if they are “material.” Translated: If a company has “material” information that would prompt an investor to buy, sell or hold company stock, then the company is mandated to disclose under Regulation FD (Fair Disclosure).

What this means is that each and every of the more than 5,000 publicly traded companies (NYSE or NASDAQ) in this country must issue news releases. The writers are not expected to produce the figures (there are oodles of accountants, auditors, controllers …), but they instead must tell the story behind these numbers.

That means that college and university communications graduates should know the difference between the income statement top line (revenues), the bottom line (net income or net loss) and everything in between (e.g., COGS, Gross Margin, SG&A, R&D, Operating Income, Taxes, Amortized Expenses …).

Sure wish someone had been kind enough to teach me these skills, including how to read a balance sheet, back in college.

Social Media

The world has already shifted from Web 1.0 (accessing websites) to Web 2.0 (wired and wireless devices talking to each other) and soon Web 3.0 (semantic web).

The Economist reported this week that nearly one-quarter ($120 billion) of the world’s $500 billion advertising business is coming from digital ads, increasingly being delivered to mobile devices. Yes there is no doubt that digital media is being monetized through search engine optimization (SEO) and other techniques, and that Genie is not going back in the bottle.

Facebook (friends), Twitter (140-character tweets), LinkedIn (connections), YouTube (videos), Flickr (photos), Pinterest (online scrapbooks), WordPress (Almost DailyBrett) all enjoy first-mover advantages in their respective social media spaces. There are challengers now and more competitors to come. The bottom line is that digital publishing through binary code is here to stay.

Companies and international public relations agencies are expecting that digital natives instinctively understand social media. This all circles back to the ability to write clear, concise, credible and compelling copy for an audience that is increasingly overwhelmed by information.

digitalnatives

And much of this data comes in the way of numbers, the ones with a story behind them. And increasingly, these stories no longer involve a gate-keeper but are transmitted though “owned” media (e.g., websites, blogs, social media sites).

Stating that compelling writing, financial communications and social media are the Big Three of Communications may entice the crisis communications, marketing, branding, reputation management, employee communications, public affairs and other dedicated professionals to take umbrage.

Fret not. Almost DailyBrett loves you too, and says to each of you that you need (or soon will need) graduates who can tell the story, and tell it well, through effective writing, numerical literacy and of course, proficiency with digital tools.

http://smallbusiness.chron.com/importance-writing-skills-business-845.html

http://www.unc.edu/~croush/CV.htm

https://almostdailybrett.wordpress.com/2014/05/29/owned-media-an-answer-to-digital-change/

http://www.economist.com/news/special-report/21615869-technology-radically-changing-advertising-business-profound-consequences

 

 

 

 

 

 

Investing without research is like playing stud poker and never looking at the cards.” – Über-investor and former Fidelity Magellan Fund manager Peter Lynch

peterlynch1

Couldn’t help but note Lynch’s gambling metaphor when it comes to investing in global markets.

There are many who absolutely contend, and will not be convinced otherwise, that investing in Wall Street is nothing more and nothing less than gambling. They even talk about playing the market.

Are the Manhattan-based NYSE and the NASDAQ stock markets, Las Vegas East?

Or is Las Vegas, Wall Street West?

Can’t say the author of Almost DailyBrett is an expert about either gambling (never been to Lost Wages) or investing, but I do know enough about Wall Street to be dangerous.

And based upon this finite knowledge, let me proclaim IMHO: Investing in Wall Street is not gambling, provided that you do your homework, and as Peter Lynch has stated, “Invest in what you know.”

Strategic Business/Financial Communications

The academic paper for my M.A. project at the University of Oregon School of Journalism and Communication provided the backdrop for the creation of an upper division college course: Strategic Business/Financial Communications. I was privileged to teach the course that I created.

Many students thought that Strategic Business was a math class. Ahh … I flunked geometry in high school. Screw the Pythagorean Theorem. Yours (left-brain challenged) truly cannot and will not ever teach a math class. Instead, communications’ students learned a new language – speaking, writing, hearing, reading – the lexicon of Wall Street.

There is a reason why financial communications/investor relations are easily the highest compensated segments of the public relations profession. According to Salary.com, IR directors received in the range of $97,753 to $201,565 annually in 2013. Corporate PR directors received $86,469 to $167,836 in the same year.

This is serious money, not including stock purchase plans and options. And why is that? Both jobs demand qualitative excellence (e.g., developing relationships with analysts, investors, reporters, employees) and quantitative skills (e.g., reading income statements, balance sheets and cash-flow statements).

investorrelations

Which brings us back to the point as to why Wall Street is investing and not gambling. The answer lies with responding to a basic question: How does a company make money?

Microsoft sells software and video game consoles. Boeing produces airplanes. Google is the No. 1 search engine. Apple is Macs, iPods, iPhones and iPads. Nike makes athletic shoes. Amazon is the No. 1 digital retailer etc.

And backing up the answer to these questions is a plethora of facts, figures and information. Looking up a stock on Yahoo Finance, CNBC, Wall Street Journal, Reuters, MarketWatch.com, The Street.com and others is the easy part.

There are also the aforementioned income statements (revenues and net income…there is a major top-line and bottom-line difference), balance sheets (assets and liabilities), CEO letters, annual reports, analyst reports and more. The sheer volume of this data can be overwhelming, but it is all there, free of charge.

Leading or Trailing Indicator?

“ … Don’t care where a stock has been, only where it’s going.” – CNBC Mad Money Jim Cramer.

Cramer is fond of stating that he really does not care about a stock’s past, only its future. That answers the leading vs. trailing indicator question. Stock prices are an indicator of the expected/anticipated/projected/forecasted upward or downward direction of a company’s business prospects.

cramerbuy

How do we know whether a company is doing well or not? Certainly there are oodles of information online, maybe even too much data. There is also your personal experience.

Ever observe the perpetual line out the door at Starbucks as people queue to pay $4.00 for that overpriced grande mocha with no whip.

Ever notice that Southwest Airlines only offers peanuts and a soda; you can choose your own seat; the airline only flies Boeing 737s; and the flight attendants are actually Pharrell Williams Happy?

Ever note the high prices, superior quality, commitment to service and high-traffic stores at Nordstrom?

And did you ever wonder about all the hoopla about “The Cloud” or the access of Big Data contained in mega servers and offered in manageable chunks by a company such as Salesforce.com?

When one mentions “Hog,” your mind may conjure a barnyard or you may think about high-performance, big muscle motorcycles. Want to invest in one of the country’s great comeback stories? Just enter NYSE: HOG or Harley Davidson into the search engine.

“The House Always Wins”

When one is mathematically challenged, it is best to stay away from Texas hold-em or the black-jack table. Can’t tell you how many times I have heard the phrase: “The House always wins.”

wallstreetgambling

That’s not to say that there are not legitimate complaints about Wall Street, particularly as it applies to executive compensation for underperforming CEOs. And there are those who contend the market is rigged against the little guy, the retail investor.

There is no doubt that cash is king. And the buy-side (e.g., PERS, Fidelity, Putnam) and the sell-side (e.g., Goldman Sachs, Morgan Stanley, J.P. Morgan) own the lion’s share of company shares. The respective analysts for these investment houses naturally draw the most attention from publicly traded company execs.

Having said all of the above, there are still opportunities for the retail (e.g. Charles Schwab, eTrade, TD Waterhouse) investors. The time-tested tenets of diversification, doing your homework, know who you are buying and why, still apply.

Sure beats investing in a 0.02 percent passbook account, plunging hundreds of thousands into real estate that could go underwater, stuffing dollars under the mattress or even playing the Roulette wheel in Vegas.

http://en.wikipedia.org/wiki/Peter_Lynch

http://25iq.com/2013/07/28/a-dozen-things-ive-learned-about-investing-from-peter-lynch/

http://www.cnbc.com/id/15838187

http://www.thedigeratilife.com/blog/jim-cramer-stock-picks-money-tips/

http://www.salary.com/

 

 

 

“The sales of Apple kept getting stronger, the cash position larger, and the products more creative than any company I can ever recall – all because of the genius of one man, the founder, Steve Jobs.

“When Steve Jobs died on October 5, 2011, I told people on ‘Mad Money’ that Apple would never be the same…” – CNBC über-commentator and former hedge fund manager Jim Cramer

The Three Gees

When I joined the ranks of Silicon Valley PR directors/managers in 1995, the business media was obsessed with three CEO rock stars we called, “The Three Gees”: Bill Gates (Microsoft), Lou Gerstner (Itty Bitty Machines) and Andy Grove (Intel).

The Three Gees dominated (today’s legacy) media at the time, seemingly making every cover of the leading business magazines, namely BusinessWeek, Forbes and Fortune.

They respectively represented the software, manufacturing and semiconductor sides of the PC, and the growth of their stocks was something to behold.

jobsamelio

When Steve Jobs returned to Apple one year later – 11 years after being forced out by John Sculley and the Board of Directors of the company he created – the media coverage was breathtaking. The Mercury News above-the-fold treatment left one wondering what the editors would do for the “Second Coming.”

And yet Steve Jobs was indeed mortal. There was no OMG product that Jobs bequeathed to his successor, Tim Cook. Today, Apple is losing ground to Samsung. Will Apple ever regain its Steve Jobs-era glory? Most are betting the under.

Fast-forward to the present: Microsoft is offering new generations of Windows in the post-Gates era. IBM sold its PC division – the technology it pioneered – to China’s Lenovo. Intel and other semiconductor companies are now mere commodity suppliers to the new newsmakers, the social media (e.g., LinkedIn), cloud computing (e.g., Salesforce.com) and mobile technology (e.g., Google) firms or as Cramer says: social, cloud and mobile.

Bench Strength?

In the big four American sports, particularly beisboll, football and hockey you cannot win the World Series, Super Bowl and Stanley Cup respectively with just superstars. This is less the case with basketball, but players contributing off the bench are still needed. The point is champions must have talent, including superstars, but they also need deep benches, intelligent systems and solid coaching.

A team winning the Stanley Cup cannot just rely on one superstar center, left-wing, right-wing line, but also scoring from lines two, three and four, solid defensemen and lights-out goalies. There will be nights when the top line is not producing. That means that others must step up and contribute.

penguins

My former boss, Wilf Corrigan, founded custom-chip designer LSI Logic in 1981 and also served as its chairman and chief executive officer until he decided in concert with the company board of directors to step down in 2005. He surrounded himself with extremely talented lieutenants as mentioned in an earlier Almost DailyBrett post. They went on to serve as CEOs including: John Daane (Altera); Brian Halla (National Semiconductor); Moshe Gavrielov (Xilinx); Jen-Hsun Huang (NVIDIA); Ronnie Vashishta (eASIC) and Bruce Entin (Silicon Valley Communication Partners).

The most important point is that Wilf, despite his status as a captain of industry, did not want the LSI Logic story to be exclusively about him. He also wanted to feature his deep bench. Instead of the first-person singular (e.g., I, me, myself), he insisted on personally speaking in the first-person plural (e.g., we, us, ours). He wanted the same for those who spoke on behalf of the company team … that would be me.

The Imperial CEO

carly1

Just last week, The Economist cited Czarina Carly Fiorina, former CEO of Hewlett-Packard, in a story as to why female CEOs are more likely to be shown the door – the glass cliff — as opposed to their male counterparts. The central reason offered was that female CEOs are more likely to be hired from outside to save the day.

The Economist cited the “disproportionate publicity” that Carly received in her rocky tenure, making her a media star and synonymous with her company Hewlett Packard (particularly during the Compaq acquisition debacle) and ultimately contributing to her demise.

mayer

Almost DailyBrett wrote earlier about glamorous Yahoo! rock star Marissa Mayer, and her decision to pose horizontally for Vogue. The question was asked then, and asked again now whether we care as much about Yahoo! as we do about Mayer? Maybe the coming $15 billion – $16 billion IPO of Chinese digital retailer, Alibaba, will bring some attention back to 13.6 percent part-owner, Yahoo!

We should also not lose sight that Mayer came to Yahoo! from Google. Is there another glass cliff in the offing?

“Tesla is Elon Musk”

Last week, a CNBC talking-head analyst declared that electronic car innovator Tesla was in reality an ion-battery maker in drag.

CNBC anchor Bill Griffeth replied that Tesla is Elon Musk. Guess the same would apply to privately held, rocket maker SpaceX. According to a recent profile on CBS’ 60 Minutes, Musk devotes three days of his typical week to SpaceX, two days to publicly traded Tesla (NASDAQ: TSLA) and two days to his relatively new wife and five sons from his previous marriage.

Can Musk petition for weeks to be extended to nine days?

As a shareholder of Tesla and as a public relations counselor/commentator for three decades, Musk comes across as a good guy and relatively modest. He simply calls himself an “engineer.” Whether he likes it or not, he is first and foremost a technology rock star.

So what should Tesla, SpaceX and Musk do?

At a minimum, they all should be thinking about succession planning even though Musk is only 42 years young. The comparisons made by 60 Minutes and others, comparing Musk to Jobs, should be seen as both extremely flattering and downright scary.

Tesla and SpaceX seemingly have extremely talented corporate lieutenants. We need to see them and get to know them. Will they replace Musk in stature? No. Having said that, there will be a future of these companies after Musk, just as there was a future for Apple after Jobs.

muskstraubel1

For example we could learn more about Tesla’s chief technology officer JB Straubel, who rebuilt a discarded electric golf cart at 14-years young. Today, the Stanford grad in energy engineering is now tasked at building an affordable (e.g., $30,000) Tesla electric car with acceptable range.

The same will eventually be true for the leading rocket scientists (they really are rocket scientists) at SpaceX, particularly if Musk decides to take the company public.

The Tesla and SpaceX teams need to remember that running a company is not a sprint, but a marathon. To make it for the long-run and go deep into the playoffs, you need a seasoned team and a strong contributing bench.

http://www.amazon.com/Jim-Cramers-Get-Rich-Carefully/dp/0399168184

http://appleinsider.com/articles/13/03/27/briefly-steve-jobs-1996-return-to-apple-depicted-in-rare-set-of-photos

http://www.economist.com/news/business/21601554-why-female-bosses-fail-more-often-male-ones-glass-precipice

https://almostdailybrett.wordpress.com/2013/08/18/mayer-vogue-nasdaq-yhoo/

http://www.teslamotors.com/executives

 

 

 

 

Launching a Second Career?

“From adversity comes opportunity.” – Hall of Fame Football Coach Lou Holtz

“Don’t give up; don’t ever give up.” – Jim Valvano Farewell Speech

“ … There are two paths you can go by, but in the long run, there’s still time to change the road you’re on.” – Led Zeppelin’s “Stairway to Heaven”

There was a real question for months-on-end about whether this particular Almost DailyBrett blog post would ever be written.

The reason is simple. It’s much more difficult than anyone would anticipate, launching a second act when one reaches the “difficult” age of 50 or above. This point is particularly magnified for the so-called “privileged” pale male of the species.

clint

No one seems to like these angry white males. Let’s marginalize this irksome demographic (e.g., put them out to pasture).

And yet there is hope for those – both women and men — approaching their Golden Years particularly those with plenty of gas in the tank with what can be called,  a sunny outlook on life.

Didn’t Ronald Reagan launch a second career at 69-years young after six years of uneventful long-term unemployment?

Aren’t the Rolling Stones touring the UAE, Japan, China, Australia and New Zealand in their 70s?

Judi Dench at 69-years of age couldn’t make the Academy Awards Sunday night because she was shooting a movie in India. You go girl!

The same is true for the author of Almost DailyBrett. Starting this September, yours truly will serve as a tenure-track Assistant Professor at Central Washington University, teaching public relations and advertising to college students.

Yes, this most likely is my incredibly satisfying encore after three decades in political-corporate-agency public relations.

For a wide variety of reasons the recession/economic downturn that stubbornly refuses to enter into full recovery mode, claimed literally hundreds of thousands of Baby Boomer victims during the course of last decade.

In many cases, their P&Ls simply collapsed. They were making five-figures or in some cases, six-figures and the first number was not necessarily a “1.” Despite their knowledge and experience …or maybe because of their knowledge and experience…they became too damn expensive.

babyboomers

It was time to cut expenses and to layoff those who were not going to be part of an organization’s dynamic future. These Baby Boomers reacted by thinking about simply landing another six-figure “position.” Surely someone would be grateful for their services…or surely, not.

After months of furtive searching, burning through inadequate unemployment checks and dipping into savings, joining the ranks of the long-time unemployed, some of these cashiered Baby Boomers came up in many cases with the wrong solution: Start their own businesses and burn down nest eggs. For a few it worked. For most it did not.

Putting out your shingle and being your own boss sounds appealing on the surface, but in most cases it’s a major pain. You have to find the business against strong competitors. If successful, you have to service the business. You have to retain the business. You have to bill…and hope that you will be paid in a timely manner, if it all.

Many took a hint and retired in their late 50s/early 60s, years before Medicare eligibility. As The Economist stated: “A growing number of the long-term unemployed find ways to qualify as disabled and never work again.” The number of DI beneficiaries in 1970; 1.5 million; 2013, 8.9 million. The disability trust fund is due to go broke in 2016.

Okay, acknowledging that an uphill climb still confronts the long-term unemployed Baby Boomer, what are some realistic strategies to launch a second career, get back into the game, and put more hop-and-skip into her or his jump?

Continuous Self-Improvement. Even though you may detest exercise, you need to dedicate at least 30 minutes daily, six days per week (one day off) for cross-training. That means reasonable resistance training with weights three days a week and aerobic exercise (e.g., running, elliptical, treadmill, spinning) another three days per week. This should be a religious experience, meaning you believe you are sinning if you miss a day. At a minimum, you will feel better about yourself and better project a more youthful demeanor.

crosstraining

Calories In; Calories Out. No one wants to hear this mantra, but that along with exercise is the solution to adipose tissue. Serve meals on salad-size plates instead of dinner plates. Think portions. Eat more veggies and fruits. Drink more water. Divide entrees with a significant other when you go out (you will still go home with a Bowser bag). Lose your convulations.

Lifelong Learning. Know what is going on in the world, even if Russia’s latest invasion or the massive U.S. deficit does not please you. Project yourself as engaged in your world, nation, state and community. Devour digital and conventional media.

Embrace Digital. That means as CNBC’s Jim Cramer would say: social, mobile and cloud. Those Baby Boomer colleagues of the editor-in-chief of Almost DailyBrett  that are agnostic to social media all have something in common: They are all unemployed. Write a blog. Participate in social media. Keep up with digital trends. Google yourself. Immediately clean up your act, if necessary.

Always Think SEO. WordPress, Wix and others give you free plug-and-play tools to build your own personal brand websites. LinkedIn provides you with the tools to incorporate your professional personal photos, presentations, glowing references and career accomplishments. Use them. And then employ social media to spread the word. Update your resume. If you don’t know what SEO stands for, look it up.

Build Your Network. Every LinkedIn connection is a friend. Every LinkedIn Group is a collection of like-minded friends. Don’t rely on the black hole of job boards. Develop relationships. Find the hiring managers. Ask for informational interviews. As you well know, it’s not what you know, but who you know.

Consider Going Back to School. It may not be easy to be a Non-Trad Student as earlier reported in Almost DailyBrett, but attaining that elusive undergraduate or advanced degree at a minimum demonstrates tenacity, dedication and commitment. As Martha would say, these are all good things. My new position would not have been possible without my recently earned graduate degree, attained 34 years after my undergraduate degree.

Put Yourself in a Young Environment. The ultimate start-ups are college campuses. No one is thinking about retirement or long-term disability checks. For students, the future is now and it is damn exciting. Think of your future that way as well. If you are 60, you should be contemplating your next three decades of so on the planet…if you are so lucky.clint1

Avoid Starting Your Own Business … unless you really want to. Burning up your nest egg on a business that fails is a double whammy. Find something different that you want to do and can do with gusto. I am really looking forward to resuming my teaching, and in particular mentoring students as they transition from graduates to professionals.

Stay Away from Federal and State Assistance. Are you really disabled? Can you volunteer? Can you take a “job” rather than a “position” to get back on track? We need more taxpayers in this country, not more of those on the dole as evidenced by the record 46 million on Food Stamps.

Find Love. Having someone in your corner supporting you and willing to listen when the storm clouds are the darkest is indispensible. Being able to check the “married” box sends a very positive message, and may prompt someone important to look at your application twice.

That may be just the break that your second career needs.

http://livingstingy.blogspot.com/2010/07/your-second-career-plan-on-it.html

http://www.aarp.org/work/working-after-retirement/info-10-2013/reimagine-your-life.html

http://www.aarp.org/work/working-after-retirement/info-05-2011/ready-for-an-encore.html

http://www.whitehouse.gov/about/presidents/ronaldreagan

http://www.economist.com/news/leaders/21597898-if-barack-obama-wants-increase-economic-opportunity-he-should-embrace-ideas

http://www.economist.com/news/united-states/21597925-want-make-america-less-unequal-here-are-some-suggestions-memo-obama

https://almostdailybrett.wordpress.com/2013/12/19/the-courage-to-succeed-as-non-trad-students/

The words, “Public Relations Pros” and “Journalists” would be labeled by many in the Fourth Estate as either an oxymoron or an obscene contradiction of terms.

Emerging from Journalism school back in the desultory late-1970s, the author of Almost DailyBrett would have surely agreed. Walter Cronkite never flacked for anyone. Woodward and Bernstein might be interested in selling books, but they would never stoop to representing a mere politician or corporation. Analytical Thomas Friedman would never risk his reputation for impartiality by serving as anyone’s advocate.

woodwardbernstein

Yes, the perception is that journalists are reporters, editors, correspondents, columnists, anchors, news directors and managing editors. This thinking is oh-so-analog.

Let’s pose this question: Are digital bloggers for TechCrunch, Gizmodo, The Huffington Post, Politico and many other influential weblogs, journalists? Don’t think so?

Think of it this way: They have an obligation to get their facts right. They may not always write, complying with AP Style or using the inverted pyramid – heck many of their posts are feature “thumb suckers” – but they still must have a sense of what is newsworthy and what is not. Why? Because a blog is the most discretionary of all reads. No one requires you to read her or his blog.

Bloggers need to include in their posts the essential facts or the five W’s and the one H… What, When, Who, Where, Why and How…and one more: Who the hell cares? If these questions are not answered quickly, the reader will turn elsewhere. Isn’t that what a traditional analog journalist does?

Is Jon Stewart, a journalist?

Heck no you say? He is a comedian. Right? Or Left? Yes, he is…but in many respects he is a journalist.

stewartcramer

His 21-minute public undressing of CNBC’s Jim Cramer was masterful, and it went viral (more than 83,000 page-views). Harvard-trained “Mad Money” Cramer is a virtual encyclopedia of all things, Wall Street. If you are skeptical, just check out his evening “Lightning Round” or read his latest tome, “Get Rich Carefully.”

And yet Stewart nailed him with his careful research, facts and figures to skillfully argue that CNBC was essentially in bed with institutional Wall Street, and was not doing enough to protect the average retail investor, who relies on the market to grow nest eggs for future dreams through IRAs and 401k’s.

Another question immediately comes to mind.

Is the above-average Jane or Jack with a cell-phone camera and an internet connection, a journalist?

Your immediate reaction would be to the negative…and in most instances you’re right…but not in all cases.

Train Station Shooting

A cell phone camera turned BART’s world (Bay Area Rapid Transit) literally upside down when the fatal 2009 early New Year’s morning shooting of Oscar Grant at the Fruitvale station went viral. A passenger taking photos through a subway car window “covered” the story, providing many of the five W’s and the one H, prompting the mainstream Bay Area media to follow and putting the BART public relations operation into damage control. The “Who Cares” question was already answered.

Just as the binary code of ones-and-zeroes has forever changed the business models of analog media types (e.g., those still using a later generation of 1439 Gutenberg’s printing press), the definition of who is and who is not a journalist is changing as well.

Rarely does Almost DailyBrett speak ex-cathedra, but it will in this case: The public relations industry grasped digital communication – blogging, microsites, digital handhelds – much faster than the majority of conventional journalists, some of which are still kicking and screaming.

Naturally, traditional journalists and the newly minted digital journalists (e.g., bloggers) are skeptical of public relations pros. Why? Flacks are advocates. They have a point of view. They present the truth and tell the story in the best interest of their respective clients.

This advocacy position puts them in a synergistic relationship with the reporter-editor-analyst crowd, and in many cases these recipients of PR industry information are antagonistic to the provider. In the final analysis and there is no denying this point: They need each other. Reporters need public relations pros because they provide information. In turn, public relations pros need access to their target audiences.

And what about this information? It has to be researched. It has to be accurate. It should always be presented professionally (e.g., AP Style). It has to be newsworthy (or a credible newsworthiness argument has to be advanced). It has to include all the salient facts, including those five W’s and one H. And it must conclusively respond to the skeptical, bordering on cynical, who cares question.

Some have suggested that public relations should be taught in business schools rather than journalism schools. The reason is that the majority of agency and all corporate public relations professionals are working on behalf of business. That’s true.

Here’s where Almost DailyBrett disagrees. Public relations is telling the story on behalf of a newsworthy client. Even though PR pros are advocating, they still must research the story and get it right. They must present this information professionally (e.g., inverted pyramid, AP Style) and it must be newsworthy for news disseminators in order to reach target audiences. That requires the journalism taught in J-Schools.

invertedpyramid

Even if public relations pros are bypassing or not exclusively using conventional and digital media outlets, and strictly utilizing self-publishing instead, they still need to practice solid journalism and ensure the story is told accurately.

And what did Joseph Pulitzer write on the walls of the St. Louis Post-Dispatch? “Accuracy, Accuracy, Accuracy”?

This sage advice applies to public relations practitioners as well, particularly in our fast-moving digital age.

http://www.thedailyshow.com/watch/thu-march-12-2009/jim-cramer-pt–1

http://www.thedailyshow.com/watch/thu-march-12-2009/jim-cramer-pt–2

http://www.sfgate.com/bayarea/article/Blame-in-Oscar-Grant-BART-death-may-shift-4713100.php

http://en.wikipedia.org/wiki/Johannes_Gutenberg

http://www.apstylebook.com/

http://www.onlineconcepts.com/pulitzer/endow.htm

NASDAQ: WEED?

“Marijuana may not be addictive, but money certainly is.” – University of Denver law professor Sam Kamin

ben

How long will it be before publicly traded marijuana-producer/seller companies are listed on the NYSE or NASDAQ?

Will pot company execs someday be ringing the bell and/or pounding the gavel on Wall Street?

Will they be issuing SEC-mandated 10-Q quarterly earnings releases (how high can this stock go?), uploading 10-K annual reports, producing material 8-K filings about mergers, acquisitions and restructurings and holding shareholder meetings?

Will there be handouts for investors?

Preposterous you say? Maybe not.

“…Advocates have waged savvy campaigns…presenting a clean-cut, besuited image worlds away from the tie-dyed stereotype.” – The Economist, “High Time.”

The argument has been made for Amendment 64 (e.g., Regulate Marijuana Like Alcohol Act) in Colorado. Washington and other states that marijuana should be legalized, taxed and regulated.

Does that eventually include the SEC, the Securities Exchange Commission?

How about the FTC, Federal Trade Commission? And maybe even the Financial Standards Accounting Board, FASB. Will publicly traded marijuana companies report quarterly earnings using both GAAP and Pro Forma accounting?

If there are sky-high profits to be made as a result of legalization, taxation and regulation of marijuana, shouldn’t the Military-Industrial Complex crowd get its cut on the action?

marjijuana

If the trend continues toward nationwide marijuana legalization,(federal DOJ is not enforcing in states that vote for medicinal marijuana and other uses), logic dictates that after a few years in “test” markets such as Colorado and Washington, eventually companies may acquire these firms and add marijuana to their product portfolios.

Some may even decide to directly enter the production/marketing of marijuana sector, dominate market share and eventually spin out a marijuana division as a highly covered IPO.

Ready for NASDAQ: WEED?

What does this big profits specter mean to the backyard grower, who is looking to raise a few extra bucks? Has this person ever heard of the term, “economies of scale?” Once a Philip Morris … err … Altria Group, Inc. gets into the market with its legendary ability to produce and sell in massive volume could easily result in the dreams of these small growers going up in smoke.

Think of it this way, a company that markets cancer-causing Marlboros or essentially the burning and smoking of highly addictive doctored tobacco leaves is not going to have any moral qualms about the burning and smoking of pot leaves, particularly if there is a huge profit margin attached to these sales.

CNBC’s “Mad Money” Jim Cramer was posing the hypothetical question as to whether investors should add addictive “sin” stocks to their individual portfolios in 2014. Naturally, Altria Group or NYSE: MO was on the list. There was also Diageo plc (NYSE: DEO) that markets high-end whiskies, vodkas and liquors. Ditto for Wynn Resorts Ltd. (NASDAQ: WYNN) that operates gambling resorts. Could these sinful companies be persuaded to dip into the marijuana market once the legalize-tax-regulate advocates have won the day?

Is the Pope, Catholic?

There may also be a genetically modified marijuana play for Monsanto (NYSE: MON) and a counter wholesome organic effort by Whole Foods Market (NASDAQ: WFM).  Think of the marketing and branding possibilities and the competing television ads during future Super Bowls. Move over erectile dysfunction.

Marijuana is not only consumed in smoked form, but in brownies and other pastries. There may be a great opportunity for General Mills (NYSE: GIS) that serves as the custodian of the Betty Crocker brand. Will this be the time to expand the reach of the company’s markets and upgrade the brand at the same time?

Marijuana brownies would completely change the way we think of the image of Betty Crocker with her apron.

Just as the fictional Nick Naylor from Thank You for Smoking embodies the image of the fast talking PR pro for the tobacco industry, will there be female and male counterparts for publicly traded marijuana companies? The legalize-tax-regulate crowd has already proven they can win the day, at least in some states, when it comes to marijuana. Surely future Nick Naylors can artfully defend the rising top and bottom lines and expanding gross margins of marijuana companies.

NickNaylor

Tobacco, booze, gambling and other perceived sinful companies have not only survived, heck some are very profitable with decent reputations and brands. Couldn’t the same be true for publicly traded and SEC regulated marijuana companies?

There is money to be made on Wall Street. Why shouldn’t SEC regulated publicly traded marijuana companies make big-time profits emanating from a newly legalized, taxed and regulated market?

http://www.economist.com/news/united-states/21593467-colorado-embarks-unprecedented-experiment-high-time

http://www.economist.com/blogs/economist-explains/2014/01/economist-explains-1

http://www.economist.com/news/united-states/21573135-americas-first-market-recreational-marijuana-will-be-far-free-tax-and-tax-again

http://www.stockpickr.com/rhinostocks/portfolio/sin-stocks-january-2014/

http://seekingalpha.com/article/1156521-5-marijuana-stocks-going-crazy-and-this-could-be-just-the-beginning

http://time.com/4044698/willie-nelson-pot-brand/

 

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.” – Teddy Roosevelt

teddyroosevelt

Self-indulgent … Weak, unimaginative songs…” – Rolling Stone magazine review of Led Zeppelin I.

“(The first album) just went over their heads. Absolutely. Absolutely, so. It was way beyond them…” – Led Zeppelin guitarist Jimmy Page reflecting on the initial reviews.

Take that, critics.

There are no statues or monuments to critics.

Ancient and modern-day versions of the Pharisees have always been and will always be with us.

Will Tim Tebow make it in the NFL? If he doesn’t, is it because of his home schooling? His belief in a higher being? His long-time commitment to clean living?

You would think that he never won the Heisman Trophy.

Give him credit for one thing: He is a man in the arena.

In our digital society, our ability and our incessant need to calibrate, to crunch data to smithereens has never been greater.

Didn’t Intel get into major PR trouble in 1994 because the Pentium chip (floating point unit FPU) didn’t compute correctly four or more digits AFTER the decimal point?

When a big league hitter comes to the plate, we all know his batting average, average with RISP (runners in scoring position), home runs, RBIs…all the data that makes Billy Beane, as played by Brad Pitt, salivate.

In nanoseconds, we measure the direction of stocks, market capitalization of companies, price-to-earnings ratios and the “churn” as institutional investors or hedge funds move in-and-out of a security.

In God we trust; All others bring data. – Professor/Author William Edward Deming.

And yet, despite our unquenchable thirst for data, figures and factoids, our lives still remain largely subjective. And there are “Russian judges” that from time-to-time are thumbs down on even our best efforts.

Most sports have a scoreboard. You either win or lose, pure and simple. That is not the case for figure skating, particularly during the troubled days of the Cold War. An American skater would receive the following marks for her performance in the short or long program: 5.8, 5.9, 5.8, 5.7, 5.9, 5.8, 4.5…Wonder who gave her the 4.5? The Russian judge.

The point is the critics are still here. The world has never been more technologically advanced with 90 percent of the scientists, who ever lived, walking around the planet right now. Despite all of this innovation and advancement, we are still for the large part evaluated subjectively by our peers.

We live, and maybe always will reside in a subjective society.

This undeniable fact requires us to remember the most important public relations of all are personal public relations. How do you enhance your personal brand? How do you protect your reputation? Did you “Google” yourself today? Do you like what you see? Or do you need to change course?

Even though job applications with digital cover letters, curriculum vitae, portfolios and URLs are all submitted, and in most cases search engine instantly evaluated for desired “tag” words, the decision whether to hire or not is made by flesh-and-bones people. And of course, people can be political.

As CNBC’s Jim Cramer says, “I don’t care about a stock’s past, only its future.”

cramer

Interviewers are only concerned about whether you will add value to the bottom line. They want to know how you will fit into an organization. They want to know how you will contribute. They want to know whether you have the gravitas to interact effectively with management, customers and other stakeholders. They want to know whether you will be a team player.

How about romance? We might be able to devise a pithy profile with nice JPEG mug shots for Match.com or eHarmony or some other dating site, but whether you succeed or fail in the game of love comes down to the subjective opinion of another person. Are you immediately placed on the friendship track or the romance track? That is the mother of all analog decisions. At some point, there will be a decision whether intimate human contact is in the cards. The ones-and-zeroes play absolutely no role.

Even blog writers are subjected to…ah…subjectivity. Do these words work for you or not? Do you enjoy that picture on the wall? What about the architecture of this building? Or that outdoor landscaping? And how about Led Zeppelin I? Is it “self-indulgent”? Or does it go right over the heads of the critics?

Sometimes, we are talking about questions of taste. Sometimes a critic’s upbringing comes into play or pre-set political philosophies. And maybe despite your best efforts and effective personal public relations, the critic simply doesn’t care for you. It all comes down to eternal subjectivity in a digital world.

Those damn Russian judges. They will always be there to torment us.

http://www.theodore-roosevelt.com/trsorbonnespeech.html

http://www.youtube.com/watch?v=xhyW3_2f02w

http://en.wikipedia.org/wiki/Tim_Tebow

http://t.foxsports.msn.com/nfl/tebows-nfl-days-numbered-after-zero-snaps

http://en.wikipedia.org/wiki/Pentium_FDIV_bug

http://wiki.answers.com/Q/What_percentage_of_all_scientists_who_have_ever_lived_are_alive_today

http://en.wikipedia.org/wiki/W._Edwards_Deming

http://www.cnbc.com/id/15838187

 

 

 

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