Rob Cheng's Blog

Show to Ryan when He Turns 15


I have been rearranging all of my video files, and I found this one taken back in May 2002 in Columbus, OH. Ryan, 7 years old in the video, was acting like a hyper active 7 year old. Ryan was always trying to figure out how to be a little more absurd. I took this video, and I said to him, “I can’t wait to show you this when you are 15 years old.” Here it is 2009, and unbelievable as it sounds, Ryan is now 15 years old.

Now that we are in the digital age, it is really fun and easy to see how much children change over time. Whereas us adults, we are basically the same. Well, maybe in Ryan’s case, he hasn’t change that much. Just kidding. Actually, Ryan will be 15 in October, but close enough. Also, I am no longer hosting my videos on YouTube (It’s a long story), so let me know if there is any difficulty viewing.

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Teddy’s 2nd Birthday Videos


Teddy’s second birthday party was held in our home in Myrtle Beach, SC. Solange bought an inflatable castle for the kids to play in. At the same time, Brazil played the United States for the soccer championship called the Confederate Cup. Brazil won 3-2 in a very exciting match. Every one had a great time, and here is some video of the event.

The theme of the party was Spiderman, and the food was delicious and the cake was especially memorable.

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The 7 Principles of Success

Although so many people want to be successful, very few people are. Quite often, we end up rationalizing the success of others and inventing reasons why we are not successful. I have always believed different. It is not easy to be successful, but if one tries to achieve the following principles, ultimately successful will follow.

1. Tell the Truth

Or better put, don’t lie. If you tell the truth over the a long period of time, you earn something that is key in life, trust. Once people trust you, then it is easier to achieve more difficult tasks.

There is also a more important reason to strive to tell the truth. Do you remember when you were a kid, and you could tell when someone was lying to you? Over time, we adults lose this instinct. I believe it is because as we learn to lie, and our ability to detect lies declines. So the less you lie, the easier it is to see the truth.

Think about someone you know that lies a lot. Almost always they have major problems trusting other people and seeing the truth for what it is.

2. Do What You Say

It sounds simple, doesn’t it? If you promise something, do it. Don’t renege, don’t apologize later, just do it. It is the connection between actions and words. If you can do this consistently, your words will begin to mean more than other people. They know you back up your words with actions. People begin to have more confidence in you.

3. Don’t Give Up

Here’s a news flash. The road to success is not simple and it is not easy, and often times, it is not fun. To look at it a different way, success requires overcoming a series of challenges. Not just one challenge, but a series of challenges. Some times, it feels like it will never come. After overcoming a large challenge, another one arrives. The absolute worst thing is to give up. Giving up is the only way that you will be unsuccessful.

4. Enjoy What You Do

All of the ideals begin to blend together. If you enjoy what you do, then you are less likely to give up. You are more likely to want people to trust you. And probably most importantly, if you enjoy what you do, then there are really no bad outcomes, only good ones.

This is the way I reflect on my years at Gateway. I truly enjoyed what I did. Even if Gateway had not enjoyed the success it did, and my salary was not what it was, I would have still stayed and enjoyed every minute. People also like being around people with enthusiasm toward what they do. We also avoid people that are negative.

5. Admit Your Mistakes Quickly

At Gateway, we made a lot of mistakes. The difference between us and the competition is that we did it quickly. Next is to learn from those mistakes, and then try something else. If one follows this simple formula, ultimately one finds the strategies for success long before the competition. That’s how you become the market leader.

There is another corrolary to this idea, which is make your decisions quickly. I have found that the more time one takes to make a decision, the less likely they are to admit a mistake afterwords.

This is a tough ideal, because in this world, many people do exactly the opposite. When they make mistake, they do every in their power to avoid admitting it. Me being on the opposite side of the spectrum, it is often painful to watch.

6. Strive To Improve

No matter how far down the road to success you travel, you can always improve. Perfection is an ideal that is never achieved but you should always strive for. There is no such thing as resting on laurels.

From a business standpoint, if are always improving, your competition can never catch you. When I reflect back on the times at Gateway, we were always pressing ourselves. We had a saying “Be Happy, Never Satisfied.” We were our own worst critic. No matter how successful we became, we were always painfully aware of our deficiencies. Honestly, we hardly focused on the success at all, and only on what we could to do to improve. Or to tackle the next challenge.

7. Golden Rule

Guess what? The Golden Rule works. Treat people well and they will treat you well. Treat people like you want to be treated. Respect the opinion of others. You don’t have to agree, but be respectful.

Conclusion

That’s it. If I wanted to, I probably could write a whole book on this, but these are the basics of the principles that lead to success.

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  1. Wonderful! I too endorse these thoughts. Also I would like to add one more point. That is non-violence. Mahatma Gandhi’s ‘My experiments with truth’ says the two main guiding lights for him were truth and non-violence. Violence is not just physical, it is psychological too. And a success achieved with violence definitely loses it’s glitter in due course. Or conversly success and compassion go together.

  2. Rob,
    This principles are dead on. I would add to the first one that it’s not enough to just tell the truth not lie. Theres more to it than that. It’s important to be transparent and strive to not be deceptive. A person can tell the truth 100% and even not lie but still decieve people. I’ve seen occasions when a person was really given to mapipulating situations but being very careful to “technically” tell the truth. The idea is not to always tell the truth as much as it is for people to not feel deceived. Regardless of details or even of intention, if a person feels deceived, it erodes trust.

  3. Great rules. I live by most of them, most of the time. It’s hard once in a while, but usually for the best.

    Recently let go a girl who couldn’t manage to aspire to all of these. Hard, but necessary.

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Don’t Trust Your Broker

About two weeks ago, one of my brokers called and told me that it was time to get back in the market. I laughed at him. I reminded him that I got out of the market entirely in May 2008, and now that events have unfolded, I had little faith in our financial system. But he kept on pushing and pushing, and of course, we were going nowhere, because in my view the downsides far outweigh the upsides. Here are the top reasons why I will never listen to another stockbroker ever again.

Stockbrokers advise you when and what to buy not when to sell. That was what my broker was doing two weeks ago. He wanted me to buy again. That’s my issue, in all of my years of investing, I have never had a broker call me and tell me to sell. Never.

That’s what makes it sort of like a Ponzi scheme. As long as people keep on buying and the number of people that sell are minimized, life is great.

Actually, when I told the exact same broker to sell everything in August 2008, he told me that it was ridiculous. Had I listened to him, I would have lost right about 1/2.

All of the onus is on you to determine when to sell. And if you are serious about it, it is the high stress role in the relationship.

A stock brokers options are limited. On top of #1, the only thing that a stock broker can offer by and large are US equities and derivatives there of. What about commodities? They have no ability to hedge risk by getting into commodoties. Commodities such as oil, corn, live stock are all off the table.

But the list goes on. Precious metals. They have no clue if you want to abate your risk by stock piling some gold and silver.

How about currencies? No way. You are better off getting an on line account, because your broker has no idea what is going on with the EUR/USD.

Then last but not least are international equities. There are a few international mutual funds, but by and large, there is not a real good way to get into international equities either.

It’s like they can play one card from a six card deck, so they just keep playing the same card over and over.

They are not worried about your financial security. Because they only want to encourage you to buy, and never to sell, they are more interested in their own commissions. That is how they make their money. In fact, the premise of their entire compensation structure is to bring new money into the market.

When I told the broker how I invested a lot of money in Brazil in certificate of deposits, he pulled out every trick in the book to discount the success. His most significant argument is that I was taking too much risk. Huh? With a certificate of deposit, the risk is much less than the American stock market, and the returns are guaranteed. It just shows the inherent conflict of interest. His goal was not to improve my financial security, it was to sell something.

Now when I see all those financial commercials on golf tournaments, I don’t believe any of them. In fact, I think the exact opposite. They are more worried about their financial success than yours.

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New York City Vacation Slide Show

Man Oh Man. I have been working harder than I can ever remember. I am a man on a mission to finish a huge project sprinting to the finish line. When I want to, my focus can be amazing and singular. I really hope that I can look back at this period, and be amazed at how much work I got done.

Despite all of that, I decided to take a lightening vacation to NY with my family. We arrived on a Friday and went to the Statue of Liberty. We woke up the next day, and grabbed a train from Grand Central to Pleasantville NY to visit my cousin, Nancy and her family. My other cousin, Larry, was also kind enough to join us for the train ride from NY to Pleansantville. We spent the night in Pleasantville, and early the next afternoon, we took the train back to NY. Then we hit Central Park. Amazingly enough, in my entire life, I had never been there. We found the little kid’s amusement park on the south end of the park. We spent the afternoon there, and caught a flight back to Myrtle Beach that night. Wow! That was a lot. But now it is back to work.

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  1. I live in New York but still have never been to the Statue of liberty. Did they open it up again? I heard they closed it after 911.

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