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Professional athletes require unique financial planning due to the amount of compensation and timing of the earning career. Athletes, with their families, should create a financial plan that spans the playing career, transition to post-play career and long-term life goals.

Information for educational purposes only.

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On Grand Strategy

“It was in our strategical thinking, in the strategy of peace, that we made our mistakes. It was because our strategy was wrong that our tactics, whatever they were—and they were various—never worked out. And if now we do not develop a grand strategy of peace, we shall be wrong again—and we shall have another war.”

Richard Law, Parliamentary Under-Secretary of State for Foreign Affairs, March 1942

KCL Grand Strategy @KCL_CGS Apr 12

How to manage with Ben Horowitz

Mr. Horowitz’s book, The Hard Thing About Hard Things, is available on Audible.com. Within this book are battlefield lessons on managing an organization during extremely turbulent market conditions.

Two sides of pain.

“There’s another side of pain. It’s called effort. It’s called glory. It’s called if you can find a way to push through pain there’s something greater on the other side of it. And if you never tap into it, it’s because the first time you felt it you backed off.”

Minute 6:44

The Great Depression in the United States (1929 – 1941)

The Great Depression: Causes & Responses

Causes:
1) Overspeculation of Stocks
2) Wage Stagnation
3) Gold Standard
4) Banking Practices

President Hoover’s Responses
1) Increased Tariffs (Smoot-Hawley)
2) “Liquidate Everything”

Outcome: WWII

5 stages of an enterprise in decline: Jim Collins

Stage 1: Hubris born of success
Stage 2: Undisciplined pursuit of more
Stage 3: Denial of risk and peril
Stage 4: Grasping for salvation
Stage 5: Capitulation

Mr. Collins’ books
1) Built to Last (1994)
2) Good to Great (2001)
3) How the Mighty Fall (2009)
4) Great by Choice (2011)