Los Secretos del Hombre mas Rico del Mundo, Carlos Slim

Los Secretos del Hombre mas Rico del Mundo, Carlos Slim

Los Secretos del Hombre mas Rico del Mundo, Carlos Slim

Creo que la pobreza no se puede enfrentar a través de dádivas No puedes luchar contra este flagelo mediante donaciones deducibles de impuestos o con programas sociales. La pobreza la enfrentas solo con buena educación y con puestos de trabajo.

Como regalo de bodas Slim recibió un millón de pesos de parte de su mama, patrimonio con el cual compro un terreno en Polanco. Según la costumbre libanesa era para construir la casa de la nueva familia. Pero la nueva pareja concibió una variante de esa tradición: construyeron un edificio donde ocuparon un piso y rentaron los otros departamentos.

*** El secreto de este moderno rey Midas para hacerse multimillonario surgió de su admiración por la filosofía de algunos grandes financieros como Jean Paul Getty, Benjamin Graham y Warren Buffet.

Slim asimilo las enseñanzas de Benjamin Graham quien sostenía los siguientes principios:

El inversionista debe ponerse alguna clase de limite en el precio que paga.
Mucho mas importante que saber cuando comprar o cuando vender es saber cuando NO comprar.
Nadie le pregunta a un experto como conducir los negocios y su vida… menos la bolsa.

Existen tres ámbitos donde una persona educada debe conducirse como un descerebrado: la religión, la bolsa y las matemáticas En los tres casos no solo “queda bien” considerarse un perfecto ignorante, sino que incluso es de mala educación discutir.

En pocas palabras: El empresario solo es un administrador temporal de la riqueza.

La ocupación desplaza a la preocupación y los problemas al enfrentarlos desaparecen.

“La riqueza es como un huerto. Tienes que compartir el fruto, no los arboles”.

Slim fue de compras en medio de una de las mas severas crisis económicas de la historia moderna mexicana. Esto es, mientras los inversionistas extranjeros y locales intentaban deshacerse de sus activos a cualquier precio, Slim hizo lo contrario: compro empresas de minería, tiendas minoristas, fabricas de cable y mucho mas. Precisamente durante la crisis, construyo el mayor conglomerado económico del país: el Grupo Carso.

“Los malos tiempos son buenos, si sabes que hacer con ellos:  Era el mejor momento, nadie quería comprar y todos querían vender”.

Bajo la óptica de Slim los negocios son simples:

  1. Cuida a tus clientes.
  2. Invierte mucho.
  3. Controla tus costos y tus gastos.

Los diez principios básicos de su imperio, fueron tomados de las enseñanzas de su padre, Julián Slim Haddad:

  1. Estructuras simples, organizaciones con mínimos niveles jerárquicos, desarrollo humano y formación interna de las funciones ejecutivas. Flexibilidad y rapidez en las decisiones. Operar con las ventajas de la empresa pequeña, que son las que hacen grandes a las grandes empresas.
  2. Mantener la austeridad en tiempos de vacas gordas fortalece, capitaliza, y acelera el desarrollo de la empresa, asimismo, evita los amargos ajustes drásticos en las épocas de crisis.
  3. Siempre activos en la modernización, crecimiento, capacitación, calidad, simplificación, y mejora incansable de los procesos productivos. Incrementar la productividad, competitividad, reducir gastos y costos, guiados siempre por las mas altas referencias mundiales.
  4. La empresa nunca debe limitarse a la medida del propietario o administrador. No sentirnos grandes en nuestros pequeños coralitos Mínima inversión en activos no productivos.
  5. No hay reto que no podamos alcanzar trabajando unidos, con claridad de los objetivos y conociendo los instrumentos.
  6. El dinero que sale de la empresa se evapora. Por eso re-invertimos las utilidades.
  7. La creatividad empresarial no solo es aplicable a los negocios, sino también a la solución de muchos de los problemas de nuestros países Lo hacemos a través de las Fundaciones del Grupo.
  8. El optimismo firme y paciente siempre rinde frutos.
  9. Todos los tiempos son buenos para quienes saben trabajar y tienen con que hacerlo.
  10. Nuestra premisa es y siempre ha sido tener muy presente que nos vamos sin nada; que solo podemos hacer las cosas en vida y que el empresario es un creador de riqueza que la administra temporalmente.

*** Me recomendó dos libros, How to be rich de Paul Getty, y Supermoney de Adam Smith.

Todos los que suenan con el éxito quisieran que Carlos Slim les confiara como hizo su fortuna hasta llegar a la cima. Ante esto Slim responde que no hay nada oculto, que su secreto consiste en trabajar, ahorrar e invertir.

Cuando Slim es interrogado acerca de que se siente ser el hombre mas rico del mundo, Slim ha respondido “se trata de un asunto que no tiene relevancia por que no es una competencia, no estoy jugando fútbol Al fin al cabo nadie se lleva nada de este mundo al morir. Sin embargo la riqueza debe ser administrada con eficiencia, probidad, eficacia y sobriedad.

…en ese entorno se destaca la escultura “Los últimos días de Napoleón”, acerca de la cual Slim ha dicho a sus amigos que “esta ahí para que no se olvide tener los pies en la tierra”.

Para los autores de “The Millionaire Next Door” cerca del 80% de los estadounidenses que han logrado riqueza ha sido a través de la acumulación de un dólar a la vez, trazando y siguiendo un plan para volverse millonarios, con mucha autodisciplina, habilidades y sin perder el enfoque de sus objetivos. Lo importante es dar el primer paso, pues el primer millón de dolares es el mas difícil de conseguir.

En todo caso, cual seria su legado?
– “Mi principal legado serán mis hijos. Muchos piensan dejar un mejor país para sus hijos, yo pienso dejar mejores hijos para mi país”.

El investigador, seguramente, querría enlistar los secretos de este guru financiero que lo llevaron a ser el hombre mas rico del mundo, pero encontraría solo uno: negociar de manera inflexible hasta el ultimo centavo.

“Mi padre, me inculco principios morales y de responsabilidad social muy claros. Actuar con la mas estricta moralidad y honradez.”

A finales de 1952, cuando yo tenia 12 anos, y con el fin de administrar nuestros ingresos y egresos, mi papa nos estableció la obligación de llevar una librea de ahorros, que revisaba con nosotros cada semana.

“Si mis hijos hubieran querido ser boxeadores o atletas tendrían que haber competido entre ellos. Pero en la vida real para conseguir tu felicidad no necesitas competir contra nadie?

Killing Sacred Cows – Garrett Gunderson

Killing Sacred Cows – Garrett Gunderson

 

 

Killing Sacred Cows – Garret Gunderson

If I have a book, and you have $20, and we mutually decide to exchange my book for your $20, what was the book worth to you? What was the book worth to me? Most people answer that the book was worth $20 for both you and me. This is wrong, we only give up something in an exchange when we value what we are receiving more than we value what we are giving up. The book was worth more than $20 to you, and the book was worth less than $20 to me.

There are finite dollars, yet infinite value can be exchanged with that finite currency. One dollar can become millions, if I buy something from you for a dollar, you can take that dollar and buy something from someone else, who can then use it to buy something else and so on…

Exchange can only occur in an atmosphere of disagreement. In a free marked, the final sale price of any object is always an amount that the seller and the buyer both disagree that the object is worth. This principle is vital to overcoming the myth of scarcity, because one way we create infinite value is through the process of exchange. Just as we can exchange the same dollars an infinite number of times so we can exchange any and every form of material wealth. The value is not in things, it is in the minds of people XXX

Ideas are not and will never be scarce, and ideas lead to innovation, which leads to increased efficiency and the ability to use resources in ways that were previously unimaginable, as well as the creation of new and better resources. Human ingenuity is like a piano: although there are a finite number of keys on a piano, there are infinite ways to combine the notes they play to create music.

If we want to prosper, we must learn that happiness does not come from material things. We must become aware that happiness comes from the inside.

James Allen wrote “Men do not attract that which they want, but that which they are”.

Utilization means we stop waiting for financial freedom to come to us and instead become proactive in creating it ourselves, right now.

The fear the accumulation theory perpetuates keeps us from putting our own resources to use and keeps us chained to financial institutions.

Robert Castiglione, the founder of LEAP system of financial engineering teaches that financial institutions operate under four rules:

  1. Financial institutions want our money.
  2. They want it on a regular, systematic basis, preferably through automatic withdrawal.
  3. Once they have our money, they want to hold on to it for as long as possible, hence the withdrawal restrictions.
  4. If they have to give it back, they want to give back as little as possible.

Accumulation puts too much emphasis on cutting expenses to build our nest egg as opposed to increasing productivity and creating value in the present for ourselves and others, yet the way to to provide for security is to cultivate the ability to produce value in the world under any set of circumstances. The way for you get what you want is to give others what they want; to make yourself valuable to others.

Most people who place money in the stock market have no idea what their money is doing. The way most people “invest” is like someone who after playing craps at a casino, makes bets based on how he has seen other players win. Yet the financial pundits continue to refer to these people as “investors” and the “investors” continue to feel good because they are doing what everyone else is doing and don’t have to think much about it. Anything that involves that amount of risk and uncertainty is nothing more than gambling. I define investing as anything we do that we can control, of which will safely yield a profit.

The way to overcome the accumulation myth and start utilizing our assets to their fullest advantage is to understand the following:

  • How to seek value creation rather than practice frugality
  • The difference between producing in the present and deferring life to the future
  • The velocity of money
  • Cash flow versus net worth.

In a world of cause and effect, value creation is a cause, and money is an effect. Money is not power, it is merely a representation of value. Money is never manifested and exchanged until value is created, and thus is an expression of value creation.

Focusing on accumulating money is like wanting to harvest the fruits of a tree while ignoring the roots.

A more productive way of thinking begins by asking the questions “what can I do today, right now, to increase my productivity?” “How can I immediately be the most productive with my current resources?” “where is there discontentment in the world that I have the ability to alleviate in this moment?” “How can I be a steward of my money instead of turning it over to someone else and abdicating my stewardship?” “How can I use my assets to live my Soul Purpose and increase my human life value?”

There are two ways in which the velocity of money can increase:

  • The more exchanges made with the same dollars, the more wealth is created. ( pricing a book 19 instead of 100 )
  • The more simultaneous uses we find for each individual dollar, the wealthier we become. ( Real estate, asset, rent, tax deductions, home for my business, appreciates, etc )

One of the most destructive lies that we can fall prey to is thinking that having more money will change us. Many people fear wealth because they think that it will change them for worse, and still others invite wealth because they think that it will make them happy. The amount of currency available to you does not nothing but make you more of what you already are. If you are naturally generous, increased wealth will simply give you greater opportunity to be generous. If you are greedy, wealth will do nothing but manifest your greed even more clearly. If you are not happy without money, you will never be happy with it. Money is important and useful, but if you think that money will fix your problems, that thought is the problem.

If all of use were to wait around for the government to take care of us, who would be left to actually do the care taking? Any time we depend on the government to solve our problems, we are actually expecting our neighbors to solve them.

Capitalistic owners think they can do whatever they want with their property, extreme environmentalists think that we should use the earth as little as possible. The balance between those two extremes is Stewardship. Stewards understand that material resources can be used for their benefit and that of others, without exploitation, and in safe sustainable and balanced ways. They take care of the earth ant their material resources in the same way that we drive cars that are not ours, with care not to damage them. Stewards are the types who plant two trees every time they cut one down. They leave everything better than how they found it.

Stewardship: the responsibility to take care of our resources to ensure that they are sustainably managed for current and future generations.

Owners will often say thinks like “this is my house” or “this is my business, I built it and I will do whatever I want with it”. Stewards on the other hand, learn to submit to a higher rule, and with that submission comes increased responsibility for how they use their resources.

We must take action on what we have learned, putting our lessons into practice and changing our habits to constantly improve ourselves What we know and do not act on cannot help us.

Soul Purpose is the answer to the question “what would you do all day long whether or not you got paid to do it? Finding that answer could be a lifelong journey for some.

Producers are responsible, innovative and creative people who create all of the products and services that we buy and use. They are more concerned with giving than with receiving. They practice enlightened self interest, the belief that the way to bring ourselves the most happiness is to serve others. They are happy, wealthy and successful or they are on their way to becoming so. Producers lift, bless, serve and contribute to everything good in the world. Producers always leave things better than they found them, even if they were not responsible for the destruction they fix.

Producers apply their minds and education to learn which financial tools and resources will help them create maximum value in the world even if they are sick, disabled or dead.

While a major concern for consumers is to reduce expenses at all costs, the primary concern for producers is to create maximum value.

We see so many political policies designed to help people, when in fact they don’t do much that perpetuate poverty. Its easy to hand people money, but more difficult and much more charitable to reach into their lives, their minds, and their hearts to give them value that will actually help them to transcend their limitations and circumstances. We can teach them a skill, provide them with good books or other educational opportunities, give them responsibilities and guidance on how to fulfill them or connect them with other people who may be able to help them.

Money is simple a means of exchange, a representation of value, it is not intrinsically valuable. Money does not control our lives or dictate who we are.

Money is the byproduct of value creation, representing the exchange of value between people. In its most basic form, money is currency, a way to represent value that aids in economic transactions.

Currency is the paper and metal we use to exchange for goods and services. People created currency to aid the efficiency of economic transactions. It is not the value itself, it represents value. Its like a language. Language is nothing but sounds that we use as symbols for the purpose of communicating concepts deeper than the symbols we use. For example the word “tree” in English refers to a tree, but in Mexico “arbol” refers to the exact same thing. The important thing is not the symbol, but what the symbol represents. The value is not in the symbol but what the symbol represents.

A million green paper rectangles cant create lasting change in a persons life any more than a language can. Its how we use the symbols that makes all the difference. And we use currency as a global symbol to represent value. 

The value is in the minds of people, not the currency. Nobody wants currency; they want the things that can be bought with currency. 

When people or institutions claim that they need more money in order to be more effective and productive, more often than not what they actually need is better management rather than more money.

*** John Stossel, ABC News Jan 13 2006 entitled “Stupid America”

We earn money in one of three ways: deception, coercion, or value creation. The mansion is a cause, its the effect of one of these three things. And until we know the person intimately, and know what was done to earn the mansion, we have no right or ability to judge the cause of a person’s wealth or judge what he should do with it once he has earned. it.

We find ourselves judging the rich for being wealthy, and judging the poor for being poor, and all based on their material possessions that we see with our eyes. But without actually knowing a person intimately, understanding his intentions, purposes, mission and mindset, we have no way of accurately judging his life.

Having more money does not change our fundamental nature. If we are naturally greedy, more money will allow us to be more greedy. If we are charitable by nature, more money will give us more opportunities to be more charitable. The point is that we must become our ideal selves in the present moment, regardless of the amount of money that we have. Money can neither save us nor damn us, that choice is up to us as individuals.

My belief is that if people are truly spiritual and want to help others, they should do all in their power to become as wealthy as possible; the wealthier they become, the more people they can help.

If you want to prosper, you must stop thinking about money and instead start thinking of ways that you can create maximum value for as many people as possible.

John D Rockefeller: “ God gave me money. I believe the power to make money is a gift from God to be developed an used to the best of our ability for the good of mankind. Having been endowed with the gift I possess, I believe it is my duty to make money and still more money and to use the money I make for the good of my fellow man according to the dictates of my conscience ”

Financial institutions have reduced financial success to a matter of gambling, pure and simple. Why do they want us to believe this? What is in it for them? And why do we swallow the bait and take on their risks, especially when the wealthy do the exact opposite of this? What is the truth of the matter? How can we get safe, sustainable, and high rates of return without high risk?

Create a daily routine to increase your knowledge. Experience new things. Find a mentor or pay an expert to shadow you and critique your habits and techniques. Whatever you do, always remember that the gap between your ears is the most important place on which to focus your time and effort.

Financial institutions examine, scrutinize, and analyze every investment decision they make to ascertain that they will profit. They never blindly throw money at opportunities and just hope that, because its risky, they might make a lot of money. They know exactly how they are going to make money, and usually they know within a very close range how much money they will make.

(Compare for instance all the measures the bank takes when you apply for a mortgage – credit score, secure investment with collateral, require down payment, interest rate, payment, time period, penalties, verify work history and income, exit strategy in almost any scenario possible, transfer the risk to you in any way possible – with your measures when you invest in mutual funds – you are gambling, and the bank still makes money if you lose!)

Kiyosaki teaches that the poor say “I cant afford it” while the rich say “How can I afford this?”

We vote with our money; every dollar we spend is a vote for the kind of world that we want to live in.

The human mind is incredibly powerful, yet it must be consistently trained and guided if we are to truly tap its limitless capacity. An excellent way to facilitate this mental discipline is to consistently ask ourselves the right questions. Our brains are designed to answer the questions we pose them. The types of questions we ask determine the answers we receive. By learning to consistently ask the right questions we can access power we never knew we had.

Franklin Jones: “A bargain is something you cannot use at a price you cannot resist”

“How many of you would pay more than a hundred dollars for a hundred dollar bill?” We do this every day of our lives by purchasing on credit!. ( There are times when it is more productive for us to pay interest for the privilege of being able to purchase it immediately, for ex, real estate )

We don’t live by design, we live by default, and that is a life where unconscious exploitation is the rule. Like sheep, we graze in stifling pastures surrounded by sacred cows instead of breaking through the limiting fences built with myths to create freedom in our lives.

Marcel Proust: “The real voyage of discovery consists not in seeking new lands but seeing with new eyes”.

The Wealthy Barber Returns – David Chilton

The wealthy barber returns - dave chilton

 

The Wealthy Barber Returns – David Chilton

The price we are willing to pay is based on our assessment of how much value the item will bring in our lives. The problem arises when we have to make the value assessment on products we will use during an extended period of time, such a new car. Those firsts moments are worth a lot of “joy units”. However will you be as exited in three years when your chariot is showing its age? Probably not.

We usually give no thought whatsoever to declining marginal utility when we are contemplating buying something, we assume that our affection will never wane. So the next time you are tempted to make a major purchase, especially an impulsive one, step back, think a year or two out, and then ask yourself “Will I still be as pumped as I am right now?”

“Gratitude is riches. Complaint is poverty”

Dito Diderot “Regrets of Parting With My Old Dressing Gown: or a warning to those who have more taste than money”. “I was an absolute master of my old gown, but I have become a slave to my new one”. Few thing influence your spending decision today more than your spending desitons of yesterday ( like buying a brand new house, then you need new furniture, then a new car, new clothes, etc ).

I fear credit cards… … they allow us to act impulsively on our impulses ( and that is not redundant ). They also help us create those impulses by making us less sensitive to cost. Even those who fully pay their credit cards every month, many overspend.

Banks are a business, and like any other business they sell something. In their case the something is money, technically they are renting their money to us.

Your bank’s metric for debt affordability and your metric as the prospective borrower are very different, or at least they should be. All the bank calculates is whether you can make the monthly payment, based on your income and debt servicing. You on the other hand, need to determine whether you can make all your loan payments while still funding your retirement programs, perhaps doing some saving and – not unimportantly – having a life.

Your bank’s efforts to load you up with as much debt as you can service is often not in your best interest.

Too much available credit often leads to too much unaffordable spending, and stress, lots of stress.

I have friends who treat their LOC like a second income. “I’m glad our kitchen is so nice, it’s just too bad we cant afford food”.

Almost every financial planner tell us that there is a difference between good debt and bad debt: first house, good debt. Outdoor furniture, bad debt.

“Good Debt” should be defined as any money borrowed to buy an appreciating asset where the cost of servicing the loan doesn’t affect your ability to save to the appropriate level AND where the principal will be fully repaid before your retirement. Bad debt is everything else.

Cashtration: The act of buying a home, which renders the subject financially impotent for an indefinite period of time. A lot of Canadians have been cashtrated and they were their own surgeons, with the banks only too happy to pass the scalpels.

The problem with stretching to the max to buy a house is not the oversized mortgage payment. It goes way beyond that: The higher property taxes, the higher utility bills, the higher maintenance costs, also our new neighbour Diderot ( See above ).

Stretch to buy a house and you will inevitably stretch to buy your furnishings, appliances and even your driveway decorations ( ie cars ).

*** Two of the finest minds in personal finance, Charles Farrell ( your money ratios ), and Thomas Stanley ( the millionaire next door ) argue that overspending on one’s home may be the single biggest inhibitor to achieving financial independence.

Financial types like me love to focus on wise savers, but there are wise spenders out there too. They view their expenditures as investments and seek the highest available return, not measured in dollars or percents, but in joy.

The best way to be prepared for an emergency is to consistently live within your means and keep your debt levels well under control.

Judicious shoppers often “re frame” the cost of an item by figuring out how long they would have to work to earn the money, post deductions, to buy it. This also makes them more aware of an important concept: When we buy something we are really spending time, not money.

Leonardo da Vinci one wrote “Simplicity is the ultimate sophistication”. Keep it simple and get out of your own way.