A subprime Primer

Heres a nice SubPrime Primer for all to understand the brokerage business.

Subprime Primer

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Conversational Blindness—Answering the Wrong Question the Right Way

When faced with unwanted queries, question-dodgers sometimes exploit conversational blindness—a phenomenon whereby listeners fail to notice when speakers respond to a different question than the one they are asked—by responding with answers that seem to address the question asked, but which in fact address an entirely different question. [..] A successful dodge occurs when a speaker's answer to the wrong question is so compelling that the listener both forgets the right one, and rates the dodger positively. In some cases, speakers end up better off by answering the wrong question well rather than the right question poorly.

This is an interesting paper to read. It reminds me of the mother asking the child -" have you done your homework ?" and where the child responds "mom , you know what I did in school today ?  I wrote the whole equation on the black board , when nobody in the class knew how to solve the problem" !

 Subject change - relevant to school , but not relevant to homework !

Whose Value Statement ?

Does anyone know which org's value statement this is ?

We lead by example | We work together | We respect the individual | We seek the facts and provide insight
We are open and honest in our communication | We are committed to our communities
Above all, we act with integrity

Due Dilgence prepardness checklist

Investor presentation prepared: Yes
OM/PPM prepared: No
Business plan prepared: Yes
Executive summary prepared: Yes
3 year projections prepared: Yes
3 year historical prepared: Yes
Financials externally reviewed: No
Financials externally audited: No
Financials prepared by: External CPA
Formal board in place: Yes
Willing to put in board if none: Yes
Option plan in place: No
Employee agreements: Yes
Board of directors agreements: No
Board of advisors agreements: No
Subscription agreements: No
Cap table shareholder list: No
Management directors: 2
Non-mgmt directors: 2
Non-mgmt non-shareholders: --

statements which make you go hmmmmmmmmmmm !!

This is a classic statement by Shivanand Velmurugan

 

"When a government asks 99% of the population who own less than half of the country's wealth to bail out the 1% of the population who own 51% of the wealth the population has to decide whether it wants bankruptcy before revolution or revolution before bankruptcy. It really is that simple.""