Archive for the ‘General Thoughts’ Category
Wednesday, September 1, 2010 | Written by Erik Rostad
Posted under: Financial Concerns, General Thoughts |
Tags: diversification, investment strategies, job loss, multiple income streams, risk |
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I find it fascinating that a large part of wise investing is based upon the idea of diversification in order to avoid risk, yet most people never diversify their source of income used for those diversified investments. Most people only have one source of income.
If investors are so tied to diversification, why are they not diversifying at their income source? I think this comes from an incorrect assumption that is burned into our minds in college. We are told that the way to make it in life is to get good grades so you can get hired at the big company and make a lot of money. If you achieve this, you will become rich and not have to worry about things.
But who is taking more risk in their sources of income? Is it the mid-level manager at a major corporation who brings home that paycheck and no other paycheck? Or is it the lawn maintenance company owner who services 200+ clients a month?
The mid-level manager cannot afford to lose his job. The lawn maintenance company owner could lose a few clients without feeling much of an impact. So the lawn guy is 200x more diversified than our mid-level manager who did everything the right way.
What is the best way to diversify your income streams? It is to start a business on the side while you are collecting a paycheck from your company. If you had all of your eggs in one basket, you would be called an un-wise investor. Why do you have all of your eggs in one income stream?
Tags: diversification, investment strategies, job loss, multiple income streams, risk | Posted under Financial Concerns, General Thoughts | No Comments
Thursday, August 26, 2010 | Written by Erik Rostad
Posted under: General Thoughts, Total Entrepreneurial Activity |
Tags: age 55-64, older entrepreneurs, success, vivek wadhwa, young entrepreneurs |
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Duke University scholar Vivek Wadhwa recently completed a study of roughly 550 technology ventures and the people who founded the companies. What he found was that older entrepreneurs have better success than younger entrepreneurs when it comes to starting companies. Older entrepreneurs are defined as those in the 55 and over crowd.
Now, this may seem very logical, but the picture we most often see in the media is of the young entrepreneur and not necessarily the older entrepreneur. The older entrepreneur has likely spent many years in a company or in a trade learning the ins and outs of that industry. When they start a company, they are likely starting with more of their own seed money as well as years of experience that a younger entrepreneur does not have.
In fact, what Vivek discovered in this study was that entrepreneurs aged 55-64 have twice as much success as the 20-34 age group when starting a new business. The 55-64 age group also has the highest percentage of entrepreneurs among the age groups. Again, they are more likely to have money to spend on getting a business up and running. But also, with companies cutting back on management positions, there just aren’t many other job opportunities for someone in the 55-64 age range if they are let go. It would be curious to note how many of these 55-64 year old successful entrepreneurs started out of necessity as opposed to opportunity.
What are some other reasons you think entrepreneurship may be increasing and increasing successfully in this age group? Please use the comment box below to state your reasons.
Tags: age 55-64, older entrepreneurs, success, vivek wadhwa, young entrepreneurs | Posted under General Thoughts, Total Entrepreneurial Activity | No Comments
Tuesday, August 10, 2010 | Written by Erik Rostad
Posted under: Bootstrapping, Creativity and Ideation, General Thoughts |
Tags: Bootstrapping, diy, diy artist, entrepreneurial artists, live nation, music industry, record labels |
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What is a DIY artist? DIY stands for Do It Yourself, and it basically means the entrepreneurial artist. The bootstrapping artist. It’s the musician who is using a laptop and a microphone to record his or her first album, using Facebook and MySpace to promote the album, and is playing at coffee houses, bars, and music venues in order to make some tip money and hopefully sell some of those self-produced albums.
The DIY artist has things both easier and harder with the proliferation of the Internet. Easier because for the cost of a basic MacBook ($999), a basic microphone ($200), and the cost of the instruments, an artist can put together a semi-decent, multi-track recording using Garageband, which comes loaded on the MacBook. The artist then has access to a host of free services (MySpace, Facebook, etc.) in which to promote themselves and their album. The harder part for the artist is distinguishing themself in this cacophony of new artists who have entered the market largely due to the lowered cost of entry.
Contrast the DIY artist with the artist of old who was discovered by a record label, was given up-front money for recording in exchange for a % of ownership in the songs (usually pretty high), paid exorbitant studio recording costs, and received widespread distribution through the label. Touring and album sales were mostly a way to pay back the record labels for the seed money they provided. The thought was that the label would give you better exposure and a small % of a lot was still more than 100% of nothing.
There is currently a big debate regarding the DIY artist and if they are actually making any money to sustain their craft. What is happening is that for many of the big record companies, their influence is rapidly waning. The big hope for the industry was that live concerts would take the place of lost album revenue. This has happened somewhat, but now Live Nation is also having its own rough patch. Live Nation is the major concert promoter and venue owner. So, with the decreasing influence of album sales and live concerts, artists are having to get more creative in their approach.
Perhaps the right answer is somewhere in between the record label-sponsored artist and the DIY artist. The artist’s skill is in writing music. They may also be skilled in Facebook promotion, but if time on Facebook takes away from the creative process of writing, then the Facebook time has not been well spent. The answer in the middle is to have a small team around the artist. As with stock options in lieu of salary, perhaps the artist can surround themselves with people willing to work on commission of album & live show sales as opposed to a straight-up salary.
Artists these days would benefit from a pro in social media, booking agents skilled in particular markets, and engineers who know what they are doing in the studio. If DIY artists can become Do It With Others artists, they have a greater chance for success than just recording albums by themselves in their basements. The key is surrounding yourself with great people.
For the music industry, this really does come down to a discussion on different views of entrepreneurship. One camp holds that everything must be in order before starting the business. You must write the business plan, have a superb website, and obtain gobs of Venture Capital money in exchange for company ownership before trying to sell your product. The other camp seeks to bootstrap their business with little starting capital so that they can keep as close to 100% ownership of their company as possible. This camp seeks inexpensive yet innovative marketing solutions.
We at The Entrepreneur School believe in the bootstrapping method. It doesn’t just work for starting a business, but can cross over to industries like the music industry.
Please share how you have bootstrapped your way to success in the music industry in the comment box below.
Tags: Bootstrapping, diy, diy artist, entrepreneurial artists, live nation, music industry, record labels | Posted under Bootstrapping, Creativity and Ideation, General Thoughts | No Comments
Monday, July 26, 2010 | Written by Erik Rostad
Posted under: Bootstrapping, Entrepreneurship Tools, General Thoughts |
Tags: blogging, How to Start a Business, starting a company with no money, top 5 bootstrapping ideas |
1 Comment
Most top 5 lists on what to do to start a business include getting a business license, setting up a bank account, and finding a lawyer to complete your important documents. We at the Entrepreneur School think that these steps come much later in the process and may not even be necessary until you are actually selling your product or service.
The basic philosophy of The Entrepreneur School is to bootstrap your business by selling first and then using that money to build your business. This is opposed to the approach of raising money first and then trying to build your business. So, in light of the bootstrapping mentality, here are 5 ideas to get your business going at little to no cost:
1. Start a Blog
Four years ago, I was looking at getting into the business side of the music industry. I had a few meetings in New York with some big wigs in the industry. People who had worked with Michael Jackson, Mariah Carey, and many others. When I asked one of the gentleman of a good way to position myself for a job in the industry, he told me to start a blog about the music industry. I am a musician and had worked in International Business. He told me to approach the blog from that point of view. He said this would have the following benefits:
- It would keep me in tune with what was going on in the industry.
- It would show potential employers that I was daily reading and commenting about the industry.
- It would get me in the discussion. Others would read the blog, comment, and I could begin building a network within the music industry.
I took his advice and faithfully blogged for a long time about the music industry.
2. Share your business idea with Family & Friends
Professor Jim of The Entrepreneur School recommends sharing your business idea with those closest to you. Those whom you can trust. The important thing here is to be sensitive to their response. If they say, that’s a good idea and don’t offer any criticism, the opposite may be true. Jim says that the true test of a good idea is to see if your friends and family argue with it. As A.O. Scott wrote yesterday in his NY Times review of the new movie Inception, “Any movie worth seeing is worth arguing about, and any movie worth arguing about is worth seeing.” The same should be true about a business worth starting.
3. Put out an Ad
I wrote about this option in a previous blog. When I think of an idea to make money, one of the first things I usually do is place an ad on Craigslist for that service. Posting to Craigslist is free. This is a great way to gauge interest in your idea. If you get a lot of response, you know the idea is worth pursuing more. A good thing to do is to engage your responders in conversation to see what other services or products you could provide to meet their needs. Let your potential customers define what they want instead of you defining what you think they want. And be diligent in your ad placements. Put up a new ad every 4-5 days so it is fresh.
4. Check Forums
Another great way to see what types of services people are demanding is to visit forums. For example, I am a website developer and when I am on website design forums, I often see questions from new designers trying to make changes to their pre-existing templates. They don’t know how to do it and often times are asking people for help & pay if they can fix an item. This tells me that there are probably a lot of people out there who would be willing to pay money for a web developer to make small changes to an existing site, and not just create a website from scratch. Most web developers only target clients who want a site from start to finish.
5. Look for Opportunities where Big Companies are Failing
I had breakfast with a friend last week who told me about an acquaintance of his who was making a good living by doing the following. In a specific mall in the Atlanta area, there was a store selling a certain product off the shelves at a rapid pace. Most of the consumers who purchased this product needed to have a customized addition to the product. For some reason, the store within the mall was not filling this need of the customers purchasing the product. So, this guy would wait outside of the mall in the parking lot and fill the need this store failed to meet. What ancillary items are bigger companies in the industry you are targeting failing to complete? Is there an opportunity there for you?
Please use the comment box below to add other ideas about getting your business going for little to no money.
Thursday, July 22, 2010 | Written by Erik Rostad
Posted under: General Thoughts |
Tags: american public, confidence in congress, gallup poll, small business confidence |
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In a recent gallup poll, people were asked about the level of confidence they had in particular institutions. These ranged from government to business to military.
Small businesses have a strong level of confidence. They are in second place after the military.
Congress comes in dead last with an abysmal confidence percentage of 11%, losing 6 points from last year. The biggest dip was for the level of confidence in the office of the President, which dropped a whopping 15 points from last year. Big business also gained 3 points over last year.
Here are the entire poll results:
Tags: american public, confidence in congress, gallup poll, small business confidence | Posted under General Thoughts | No Comments
Wednesday, July 7, 2010 | Written by Erik Rostad
Posted under: Bootstrapping, General Thoughts |
Tags: Bootstrapping, entrepreneurship ideas, Saving Money, starting a business |
1 Comment
Just a few weeks ago, I launched a one page website for a service business and advertised by using Google Ads capped at $2/day. I currently offer more services than I could provide with the equipment I currently have. Is that dishonest? No, because if my client wants the service I advertise, I will purchase the necessary equipment to get the job done.
What I am doing is testing the market and at the same time, saving a lot of money. There is no need to purchase equipment to offer a service with no demand.
One of my favorite real-life stories from The Entrepreneur School Faculty member Jim is when he started his company in the 90′s that grew into a multi-million dollar a year business. He placed an advertisement in the local newspaper and waited for the phone to ring. He didn’t have a clear direction on his company at that point, but he let the callers answering his advertisement tell them what they were looking for. He then built his business around demand.
He also sold first and then worried about the details. This flies in the face of most teaching on entrepreneurship that says one must raise money, purchase equipment, and then sell. The Entrepreneur School’s approach is to Sell First, then worry about the details. Why do you need a fresh business bank account if you don’t have any client’s checks to deposit?
A great way to bootstrap your business is to place an ad for a product or service, see what type of response/feedback you receive, let these customers tell you what they want, and then build your company around their needs. You will end up saving yourself a lot of start up costs.
Tags: Bootstrapping, entrepreneurship ideas, Saving Money, starting a business | Posted under Bootstrapping, General Thoughts | 1 Comment
Thursday, June 24, 2010 | Written by Erik Rostad
Posted under: Energy and Oil, General Thoughts |
Tags: backstreet boys, boycotting bp stations, bp, creed, korn, lady gaga, misguided response, oil spill |
2 Comments
The music bands Korn, Creed, Backstreet Boys, and Lady Gaga have all made the headlines recently calling for a boycott of BP stations. That’s interesting since these bands directly use a ton of gas each year for their tours and indirectly lead to the consumption of gas by concert-goers making their way to the shows. That’s not to mention all the plastic drink bottles used at the shows. Oil is necessary in the production of plastic bottles. If t-shirts are sold that contain any portion of polyester, this is also derived from oil.
But on top of all of that, boycotting BP stations does very little to hurt BP. That’s the conclusion from a NY Times article a few weeks ago. Instead of punishing BP, these misguided bands are actually promoting the punishment of small business owners around the country who own and operate the BP stations.
If these bands truly cared about punishing BP instead of small business owners, they would start with looking in the mirror. They would learn about ways that they themselves could decrease their oil consumption. They would then challenge their concert-goers to make better choices in their lives, such as living in smaller houses closer to jobs so that they can walk or drive. It’s easy to choose an Exxon station over a BP station but very hard to ride a bike to work instead of your car.
The hope is that these bands begin to realize that they are hurting small business owners instead of BP. We welcome your comments below…
Tags: backstreet boys, boycotting bp stations, bp, creed, korn, lady gaga, misguided response, oil spill | Posted under Energy and Oil, General Thoughts | 2 Comments
Wednesday, June 23, 2010 | Written by Erik Rostad
Posted under: General Thoughts, The Entrepreneur School |
Tags: now is the time, start a business today, time is money |
1 Comment
You hear people say it all the time. If I just had an extra hour in the day, I could do so much. I could start a business, exercise more, or prepare home-cooked meals. Just one hour a day.
Well, according to a new survey highlighted in this morning’s Wall Street Journal researching time management as unemployment rises, Americans are not using extra time wisely. In a survey questioning people who now have more time due to unemployment or fewer working hours, the extra time these people now had did not translate into more productive hours. Instead, the time was filled with TV watching and sleeping.
At The Entrepreneur School, we teach that ‘Now is the Time.’ Now is the time to start your business. Now is the time to learn a new skill that will increase your chances for another job. Now is the time, as in Today. How many people do you know who talk about the business they wan to start, but never take the first steps?
One of the best things you could do right now is to transfer your Cable TV subscription into a Cable Modem subscription and turn your television set into a second computer monitor. Then, use the time you would have spent watching “Friends” reruns to start a business on the side or take online classes for a new skill set. If you are recently unemployed, don’t fall into the temptation of sleeping in. Keep solid hours and try to use your skill set to make money on the side as you look for full-time employment. Who knows, you may start making enough money on your side venture that you don’t need to look for a job anymore.
As one of my high school teachers always said, “Time is money, honey.”
Tags: now is the time, start a business today, time is money | Posted under General Thoughts, The Entrepreneur School | 1 Comment
Monday, June 21, 2010 | Written by Erik Rostad
Posted under: General Thoughts |
Tags: giorgio vasari, giotto, keep it simple stupid, kiss, pope benedict ix, st. peter's rome, the lives of the artists |
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There is a great story of an artist named Giotto that takes place just before the blossoming of the Italian Renaissance. Giorgio Vasari, in his book “The Lives of the Artists,” writes about a particular instance where Giotto showed his greatness in the most simplistic manner imaginable.
The story goes like this – the pope at that time, Pope Benedict IX, was seeking artists to adorn the walls of St. Peter’s Basilica in Rome, Italy. The pope sent courtiers around Italy to collect the best paintings from the top artists. These paintings were to be presented to the pope and his inner circle and the decision would be made on who would be the artist chosen for the commission. These courtiers scoured Italy and collected amazing paintings from around the country.
When they arrived at Giotto’s studio, the courtiers told him of their mission and requested his best artwork. I’ll let Vasari tell the rest:
“Giotto, who was a most courteous man, took a sheet of paper and a brush dipped in red, pressed his arm to his side to make a compass of it, and with a turn of his hand made a circle so even in its shape and outline that it was a marvel to behold. After he had completed the circle, he said with an impudent grin to the courtier: ‘Here’s your drawing.’”
The courtiers left Giotto upset. He thought that he had been ridiculed by this artist. But when the courtiers showed all of the paintings to the pope, the one that stuck out was Giotto’s. Again, Vasari recounts the story:
“..the pope and many of his knowledgeable courtiers realized just how far Giotto surpassed all the other painters of his time in skill.”
What does this story have to do with Entrepreneurship? Well, if you are in the services industry and your job is to consult your clients on the best path forward, sometimes your solution may not be the elaborate scheme, but rather the simple solution that those working on the project failed to see. It might including using software or skills they already have instead of promoting some new $150k solution. Simplicity within complexity is powerful.
As a website designer, one of the biggest requests I hear from my clients is to take a complex business or organization and make its look clean and simple online. My clients don’t want their sites to look like a MySpace band page. They want a very clean, simple look where users can easily navigate through their complexity. I don’t dumb down the site. I just keep it simple.
In the world of music, less is more. If you’ve ever been to a concert where the guitarist seems to take over the show by playing complicated riffs the whole time, you know what I’m talking about. However, the best musicians out there are ones who know when to play. That might just be one time during an entire song. The skill is still there, but there is a simplicity and cleverness about the work.
Giotto’s circle probably took all of 5 seconds to draw. But he is the one who ended up with the commission. If you’ve ever tried to draw a perfect circle, you know how difficult a task that would be without using some sort of a tool. For a man to pick up a brush and create perfection in 5 seconds, the pope didn’t even need to see his other work.
Do you know of any similar stories? Please write them in the comment section below.
Tags: giorgio vasari, giotto, keep it simple stupid, kiss, pope benedict ix, st. peter's rome, the lives of the artists | Posted under General Thoughts | No Comments
Sunday, June 20, 2010 | Written by Erik Rostad
Posted under: General Thoughts |
Tags: small business startup, what to expect as an entrepreneur |
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Below is a link to an article from this morning’s NY Times about making the shift from employee to self-employed. Phyllis Korkki covers topics of what to expect in making the switch and to be aware that 50% or more of new businesses fail. She pulls a quote from Professor Sahlman of Harvard:
“Once they taste having more control over their lives, they almost never go back.”
Click here to read the full article.
Tags: small business startup, what to expect as an entrepreneur | Posted under General Thoughts | No Comments
Thursday, June 17, 2010 | Written by Erik Rostad
Posted under: General Thoughts |
Tags: time management, time management tools |
1 Comment
As a small business owner, one of your biggest challenges will be effectively managing your time. Work will continue to pile up. So how do you choose which projects to focus on?
One technique that really helped me out was creating a very simple spreadsheet with the following items going across:
Projects – Total Project Income – Hours Spent on Project
Then, have another column where you divide Total project income by the amount of hours spent on the project.
List all of your current projects and even break them up by project tasks if possible.
This is a very simple exercise and it will show you which of your jobs are bringing in the most money per hour spent. You will also see which jobs are paying you the least. Can you outsource these jobs or tasks so that you can focus more of your time on the higher paying
When I did this, there were some surprising findings. For instance, I am a musician, and if I play certain types of gigs, I actually make more money per hour than working on some major projects. So, those gigs are worth my time. What it also tells me is how much I need to make for a gig for it to be worthwhile. If I can make more working on something else, I’d rather do that.
I’m speaking in purely financial terms here. You may enjoy doing some of the tasks better that don’t make as much money. That is fine. There are nights where I want to go play a music gig because it brings me a lot of joy. But this tool will really help you to see which your projects are making the most money for you. We all have limited time, so concentrating on your most lucrative tasks/projects is important while finding employees or contractors to do the other work.
Fill in the comment section with what you learn from this exercise.
Tags: time management, time management tools | Posted under General Thoughts | 1 Comment
Tuesday, June 15, 2010 | Written by Erik Rostad
Posted under: General Thoughts, Marketing |
Tags: Facebook, kevin costner, Marketing, small business marketing, twitter |
2 Comments
In the movie Field of Dreams, Kevin Costner hears a voice that tells him ‘if he builds it, they will come.’ It refers to a baseball field, and them refers to deceased baseball players. It all works out pretty well in that Kevin Costner builds it and people do actually come.
If only this were true for your company’s website. I work with so many clients that build an amazing web presence and very few people end of visiting the site. One problem is a lack of marketing, both viral and paid. But another one is the fact that you are competing for users time, which is dwindling each and every day.
If Field of Dreams II came out, perhaps Kevin Costner would build a big baseball field only to find out that the old baseball players would rather hang out in the local bar, or check out the latest technology rather than play baseball in his fresh, expensive baseball field.
People in the music industry have come to realize that they not only complete for fan’s time with other artists, they compete against every form of media. A potential fan may not be listening to your new album because they are listening to the new Beyonce album instead. Or, they could be playing a game on their new iPad.
As an entrepreneur or small business owner, you must figure out ways to get people to come to what you have just built. Here are a few suggestions on how to do that for your business website:
- Create new content. The search engines like to see new content on your pages. The reason they like it is because users like new content. If your law firm has had the same static (non-changing) page up for the past 5 years, don’t expect a lot of visitors.
- The easiest ways to create fresh content are through blogs and twitter accounts. If you write a blog, you can set it up to update on your home page that you have just written a blog. You can do the same for twitter. You can have a feed on your home page and every time you update your twitter account with a message or photo, it will show up on your home page. Keep the blogs & tweets relevant to your business and traffic will start to trickle in.
- Do paid advertising. And be creative with this. Google Ads is not the only option out there. You may be able to target better with Facebook ads. Or, does your client visit a specific type of website? Ask to place an ad on that website.
- Get out on the street. I have one website client who ordered 500 business cards from me and needed to place a new order for cards within 2 weeks! That’s because he went to every single local store aligned with his business and handed out the cards. His website traffic from that alone was impressive. If you create a business in your garage but never tell anyone about it, no one will know. The same applies for your website – there must be face time behind your pretty website
As you can see, these may be expensive and time-consuming tasks. But the reality is that people don’t come if you just build it. You must evangelize, prod, encourage, entice, and answer questions.
We’d love to hear about what has worked for you in marketing your company online. Please use the comment box below to share your thoughts.
Tags: Facebook, kevin costner, Marketing, small business marketing, twitter | Posted under General Thoughts, Marketing | 2 Comments
Monday, June 7, 2010 | Written by Erik Rostad
Posted under: Economics, Financial Concerns, General Thoughts |
Tags: cdo, credit default swaps, michael lewis, the big short, wall st |
No Comments
I just finished reading “The Big Short: Inside the Doomsday Machine” by Michael Lewis. Michael Lewis is also the author of “Liar’s Poker,” which described his 3 years working on Wall Street, advising investors on major investments when he said he had no idea what was going on. In fact, not many people he worked with knew what was going on. Mr. Lewis is also the author of the recent Hollywood hit, “The Blind Side.” In all, he has written 10 books.
In “The Big Short,” Mr. Lewis follows a handful of investors who saw the financial crisis coming, placed bets that the market driven by bad mortgages would fail, and reaped millions of dollars when they proved to be right. It was a very entertaining book. Most of the time, I was absolutely astonished that CEO’s, top financial government officials, and rating agencies failed to see disaster ahead. The rest of the time, I was just plain fearful that we are only beginning to see the first part of what will be a major economic crisis (one investor who saw this coming told his mother “I think we might be facing something like the end of democratic capitalism.”)
In fact, the most incredible part of this story is that there were only a handful of people in the United States who understood the real implications of you and me getting loans for our houses with no money down. That means that CEO’s down to new hires on Wall Street completely overlooked the risks involved in the credit market for mortgages. But not only them. People around the United States started buying houses they could never afford (one strawberry picker obtained a loan to purchase a $750k house while only making $14k a year). The media (watch the media laugh at Peter Schiff in 2006-07), the government, and investors worldwide completely missed the signs.
One of the scariest quotes of the book comes on page 214:
“They weren’t lying; they genuinely failed to understand the nature of the subprime CDO.”
In this quote, Mr. Lewis is specifically talking about bond traders at Morgan Stanley who failed to understand what they were selling, but also about the market in general. In other words, this wasn’t some big scheme to screw the American middle class, it was complete ineptitude & idiocy by some of the highest paid, most educated, most esteemed people in the United States. That scares me more than this being a big fraud. We can go after a Bernie Madoff because he knew he was screwing people. We can’t go after the CEO’s of the major Wall Street firms because they were inept. In fact, we have rewarded them with bailout money.
Overall, I highly recommend this book for those interested in our country’s recent financial disaster. I’ve noticed that it has already helped me better understand what I am reading in the newspaper about the continuing financial crisis.
For entrepreneurs, this book is an important read. It was the corporate people (Wall St) who couldn’t think straight and inevitably lost all their money. The handful who saw it coming were mostly outside of the industry. Those who were outside the culture and could look at information without Wall St. groupthink were the ones who profited. The book starts out with this quote by Leo Tolstoy:
“The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.”
Tags: cdo, credit default swaps, michael lewis, the big short, wall st | Posted under Economics, Financial Concerns, General Thoughts | No Comments
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