BC LEARNING
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Top 10 Personal Finance Books

⚡️Book Thread⚡️

+ Best quotes

 These ten books have ten different and powerful approaches to accumulating personal wealth.
1. Think and Grow Rich

”The object is to want money, and to be so determined to have it that you convince yourself that you will have it.”
2. Secrets of the Millionaire Mind

"The vast majority of people simply do not have the internal capacity to create and hold on to large amounts of money and the increased challenges that go with more money and success."
3. The Money Book for the Young, Fabulous & Broke

"You picked up this book because you are broke. Keep reading and you will discover what you need to know--and do--so you will not be broke forever."
4. Total Money Makeover

"What I have done is packaged the time-honored information into a process that is doable and has inspired millions to act on it."
5. The Millionaire Next Door

‘People whom we define as being wealthy get much more pleasure from owning substantial amounts of appreciable assets than from displaying a high-consumption lifestyle.’
6. The Science of Getting Rich

"No man can rise to his greatest possible height in talent of soul development unless he has plenty of money."
7. Your Money or Your Life

"Conditions have changed, but we are still operating financially by the rules established during the Industrial Revolution--rules based on creating more material possessions. But our high standard of living has not led to a high quality of life"
8. The Millionaire Fast Lane

"Show me a 22-year-old who got rich investing in mutual funds. Show me the young twenty-something who got rich clipping coupons. Where are these people? They don't exist."
9. Rich Dad, Poor Dad

"The key to financial freedom and great wealth is a person's ability or skill to convert earned income into passive income and/or portfolio income."
10. The Richest Man In Babylon

"Budget thy expenses that thou mayest have coins to pay for thy necessities, to pay for thy enjoyments and to gratify thy worthwhile desires without spending more than nine-tenths of thy earnings."

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1• Achieve confident humility

✅that sweet spot of confidence where you’re confident of attaining a goal in the future, but are humble about your existing tools/methods.

2• Embrace mistakes,

💯Such that errors and mistakes become a helpful part of your learning and discovery process.

3• Leverage constructive conflict,

👉Whereby you seek out constructive conflict and invite others to challenge your thinking.

4• Keep rethinking your future,

✅where you avoid identity foreclosure, use regular “life checkups” to adjust your path, and find happiness without actively seeking it.
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1.Mistakes and Learning

📝Learning  from your success will always tell you what to do next, therefore it is important to understand that failure is not a prerequisite to success.

👉🏻When you learn from your mistakes, you learn what NOT to do.

2.Don’t let the past drive the future

❌You have to learn to go in new directions, because that is what suitable today.

✅ If you break your tasks into smaller tasks, you are much more likely to be accurate, compared to estimate something big.

3.Premature Growth means death

🌐See what feels right, small companies wish they were big, and big companies wish they were more agile.

❗ Premature growth is a death point, don’t grow for the sake of growing.

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❌  Work hard when required, not all the time — you will burn out.
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10 Key Lessons From the Book “Black Swan” By: Nassim Taleb

⚡️Book Review⚡️


1. Don’t chase black swans, instead, let them permeate your life.

👉You can do this by experimenting, cultivating serendipity,

🚫not taking bell curves too seriously, and investing in lots of small outlier but high-risk opportunities.

2. Black swan events Key attributes:

- Extremely impactful
- Are outlier events
- Are retrospectively predictable, not prospectively predictable

🚫Try to avoid situations that can fool you in a huge way, and avoid depending on huge, and potentially harmful predictions.

3. Randomness mainly comes from lack of knowledge

Surviving until tomorrow could mean that you’re either more likely to be immortal, or closer to death.

👉Both of these conclusions are based on the same exact data.

4. Unknowns are more important than the knowns

👉We can master things in one field and fail to transfer the same to another.

Everyone has their own limitations when it comes to learning from experience or observation.
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10 Insightful Lessons From the Book “Ego is the Enemy”

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1: Your worst enemy lives in you

It is true that all of us, with no exemption, harbors a certain level of pride and ego.

Since pride is in us, it is either we feed it or starve it.

👉How you deal with your pride makes the big difference.

2: Manage your pride

As soon as you feel you are becoming egoistic, boastful, and proud – you can tell yourself to stop.

👉Instead of directing people’s attention to you, choose to direct attention to others.

3: Pride tells you to talk, humility tells you to listen

Ego encourages you to lift yourself and base your worth on nothing or false worth.

On the other hand, humility tells you how important it is to listen to people.

👉So, we listen twice as much as we talk.

4: Become a student

Ego tells you not to listen to anyone. As a result, you stop learning. You stop growing.

So, if you want to keep on learning, learn to be humble first.

✅That’s how you become Great.
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12 Best Quotes from the Book “The Obstacle Is the Way”

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1. “Whatever we face, we have a choice: Will we be blocked by obstacles, or will we advance through and over them?”

2. “There is no good or bad without us, there is only perception. There is the event itself and the story we tell ourselves about what it means.”

3. “Focusing exclusively on what is in our power magnifies and enhances our power.”

4. “Our perceptions determine, to an incredibly large degree, what we are and are not capable of. In many ways, they determine reality itself.

👉When we believe in the obstacle more than in the goal, which will inevitably triumph?”
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Thread: Central Pivot Range (CPR)

CPR is another popular tool. Three lines are plotted on the chart when we plot CPR.

The three lines are: CPR, TC and BC.

Let’s understand the calculation.


You may recall that I explained the calculation of Pivot levels in an earlier thread. CPR stands for Central Pivot Range. It is always a center line of the three lines that gets plotted in the chart.

CPR is a Pivot price. Pivot is average of HLC as explained in the prev thread.


We also discussed about Mid-range of the session. Mid-range is average of High and low price of the session.

The mid-range of the bar is known as BC in the CPR calculation. BC stands for Bottom central pivot.


Pivot level captures the relationship of the closing price to the range of the session.

Pivot price above mid-price = bullish pivot
Pivot price below mid-price = bearish pivot


So, CPR line is Pivot and BC line is Mid-range.

What is the difference between both?
Mid-range is average of High and Low.

Pivot is average of High, Low and Close.
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Close.
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"𝙐𝙨𝙚𝙨 𝙤𝙛 𝙍𝙚𝙡𝙖𝙩𝙞𝙫𝙚 𝙎𝙩𝙧𝙚𝙣𝙜𝙩𝙝"

Shared some strategy.

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Most of us would confuse it with Relative Strength Index (RSI) but Relative Strength is a different indicator.

We have already covered about "Uses of RSI" in below thread👇
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One can go through this if you haven't.

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Now coming to Relative Strength (RS).

It is basically a strategy used in momentum investing which shows strength or weakness between two asset classes (two stocks, index, commodity).

One can read about this in below

As of now, I am using this indicator on .@tradingview platform.

It's free and one can add it in their Tradingview account as well, using this link👇
https://t.co/FxCjJFsNOG

There are multiple variants in this as well. Some traders use multiple time frame RS.

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RS basically compares returns of one stock/index with the returns of benchmark stock/index at a particular time horizon.

Let's say, I want to analyze TCS and Benchmark Index is Nifty.

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• Admitting that you don’t know something is a superpower


Never Split the Difference by Chris Voss

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1984 by George Orwell

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Kolaru Pathigam-Thevaram hymn composed by ThiruGnana Sambandar- #Thread

In Tamil Kol means planets,Aru means cut- set of songs in Kolaru Pathigam addresses all Navagrahas& last 2 lines of every song with end a plea to Bhagwan Shiva to reduce/erase the ill effects of Navagrahas


கோளறு பதிகம் - This pathigam was sung by Thirugnana Sambandar at Thirumaraikadu Kshetram -Vedaranyam,Tamilnadu

Thirugnana Sambandar & Appar(Thirunavukkarasar) travelled together to various Shiva Alayam to spread shivam & bhakti among people.They both reached Thirumaraikadu.


Thirumaraikadu(Vedaranyam) -
Appar & Sambandar were asked to enter the temple through side entrance.The main door was locked by Vedas many years ago.Appar&Sambandar sang devotional hymns praising Shiva, after which the gates opened & closed.After which main door opened for all.


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"But I got no work experience..."

Make a open source lib, make a small side project for yourself, do freelance work, ask friends to work with them, no friends? Find friends on Github, and Twitter.

Bonus points:

- Show you care about the company: I used the company's brand font and gradient for in the resume for my name and "Thank You" note.
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"I got no firends, no work"

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- a project for portfolio
- new friends
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Bharat Darshana publishes a small monthly magazine which has some very interesting puranic anecdotes and snippets.

When I picked up this month's magazine, I was intrigued by a story which I want to share as below

1/

This is a real-life incident as narrated by Prof. Krishna Bihari Pandey titled "Sati Savitri"

Sati Savitri is a well known puranic figure from Srimad DeviBhagwatham and Mahabharatha as one of those who fought with Yama to save her husband.

2/

This story is a modern real-life experience which mimics the puranic account in it's own unique way.

The story occurs in 1975 with Prof and his wife in Delhi with professor working as a researcher in university. Prof's family is in Allahabad in a large joint family

3/

Once Prof gets to know that his mother is not keeping well. He goes to his native and brings his mother. With dedicated care of his wife, his mother recovers quite remarkably and regains full stamina and strength

Mother-in-law & Daughter-in-law go out for shopping frequently

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Life's going smooth until one day when they receive a telegram that Prof's father is not keeping well.

His mother is distressed about the situation and requests her son to take her to the native. Prof is a little angry due to frequent travels and turns it down

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