21 July 2018 FT — Articles to Read

21 July 2018


Question: According to Business Insider on MSN:LIfestyle, what are 20 things to master before you turn 40?


Full-scale trade war looms larger – Pg. 1

       …Angela Merkel warned of the economic damage of US tariffs as Donald Trump said he was ready to impose duties on $500bn of Chinese imports

       The imposition by the US of tariffs on EU car exports may contravene World Trade Organization rules, …

       She added that the world would not have overcome the financial crisis of 2008 if countries had acted unilaterally the way the US administration is now


North Korea economy suffers worst contraction for 20 years – Pg. 3

       North Korea’s economy shrank at the sharpest rate in 20 years last year, according to estimates from South Korea’s central bank, as tougher international sanctions imposed over Pyongyang’s nuclear programmes began to bite

       GDP in the impoverished communist state contracted 3.5% in 2017 from the previous year, when North Korean economy reported 3.9% growth.  The reversal in North Korea’s economy was the biggest since a 6.5% contraction in 1997 when the country was hit by a devastating famine

       In addition, China, its biggest trading partner, became stricter in enforcing sanctions in the latter half of 2017.  North Korea’s annual per-capita income stood at just $1,300 compared with the $29,600 earned by South Koreans


Trump rates blast raises fears over Fed autonomy – Pg. 11

       US presidents have avoided commenting on Federal Reserve policy since the early 1990s, emphasizing the independence of the central bank and giving it room to implement policies that might be politically unpopular

       This week, Donald Trump publicly criticized the Fed’s recent interest rate rises, ….

       The Fed began raising overnight rates in late 2015, and did so again last month against a backdrop of low unemployment, strong economic growth, and inflation approaching its target.

       The Fed’s target rate for overnight borrowing stands at 1.75% to 2%


Answer: (1) Negotiating (Prof Note: I know there are negotiating classes but I think this is a softer skill that one best learns from mentors.  Also, take lessons from the 5 – 7 year old boys in Suks in the Middle East.  I still remember asking about Pistachios and the boy responding immediately, “Buying or selling?”); (2) Establishing a regular sleep schedule; (3) Making small talk at parties (Prof Note: I cannot stand this probably because I am not very good at it!  You will see me float, stay the obligatory time required and disappear!); (4) Finding and sticking to an exercise routine you enjoy; (5) Finding your career ‘sweet spot’ (Prof Note: This is difficult.  I would say I spent the first 10 years learning what I did not like.  Now, each year enhances what I do enjoy); (6) Saving for retirement; (7) Investing in relationships; (8) Saying ‘no’ to people (Prof Note ;Knowing boundaries is very important.  However, also saying “yes” at the right times); (9) Keeping a clutter-free home (Prof Note: Fight the clutter); (10) Practicing hobbies; (11) Making new friends; (12) Failing – and getting back up again (Prof Note: The ability to get back up is critical but also the willingness to fall down.  Be willing to take positions that define your beliefs rather than supporting mainstream); (13) Managing stress (Prof Note: In my opinion, there will always be stress.  However control the type of stress.  One of my favourite expressions, “It is a problem worth having.”; (14) Lifelong learning (Prof Note: There is so much knowledge is books.  Plus, there is so much enjoyment.  Get lost in a book, under a tree, with a light breeze); (15) Time management (Prof Note: Yet another skill that differs men and woman.  In my experience, in life, Woman are much better at time management than men); (16) Cooking (Prof Note: A skill I do not possess though I can open a can, heat, and serve with the best of them!); (17) Knowing your personal values (Prof Note: Embrace your personal values.  These are YOURS.  You own them!  Sure, sometimes they may make one unpopular but they define who you are as a person); (18) Selling yourself (Prof Note: Absolutely.  BUY Foundations of Real Estate Financial Modelling, Second Edition, Routledge, 2018); (19) Being happy with what you have (Prof Note: This has been a turning point in my personal life.  I do not seek “more” (other than investments, etc) but rather seek to improve what I have); (20) Forgiving yourself for your mistakes (Prof Note: In personal traits, intentions matter.  Be pure in your intentions and forgiving yourself becomes much easier.)