Most Read IRIS Articles of the Week: August 7-11
Here’s a look at the Top 11 Most Viewed Articles of the Week on IRIS.xyz, August 7-11, 2017
Click the headline to read the full article. Enjoy!
Referrals are down, or at least that's what a recent report is suggesting. Why? Kirk and Matt get into the dirt with advisor prospecting. — Kirk Lowe and Matt Halloran
We’re hearing so much about fee-compression in our industry, the main question is not what people will pay for instead the main two questions are what do people value and can you deliver it. — Paul Kingsman
A more relevant question to consider is, “will this generation of people over 50 keep their money longer than previous generations of 50+?” If the answer to that question is “yes,” then worrying about who’s going to inherit their money and when is a non-issue. — Bill Bachrach
The benefits of diversification do not come from simply adding more investments to an asset allocation, but rather, from adding investments with lower correlations to existing investments within the allocation. However ... — John Lunt
You probably know that we’re based out of Omaha, a city that’s home to the College World Series, some of the nation’s greatest college football fans, and an award-winning zoo. My family buys a pass to the zoo every year and it is worth every dime. — Jud Mackrill
Alternatives, the diverse class of investments that flies below the radar of analysts and media, has quietly grown to total $6.5 trillion worldwide, a ten percent increase from 2015 to 2016, according to research from Willis Towers Watson. — Jason Plucinak
If you’re a financial advisor who is serious about building your business, you need to leverage every possible advantage you can get in the marketplace. Right now, technology offers a huge advantage. — James Pollard
Depending on what type of practice you run, and what type of information you need, the first key planning tool you need is your document checklist for ideal prospects. — Grant Hicks
Spot gold finished July up more than 2 percent, its best month since February, when it returned 3.7 percent. The yellow metal responded to a struggling U.S. dollar, which has lost more than 10 percent so far this year relative to other currencies and is currently at a 15-month low. — Frank Holmes
These 14 competencies are those to covet in people. They represent basic human character and define the difference between a mediocre organization and a remarkable one. — Roy Osing
Have you ever felt this way? You’ve got great ideas. You care deeply. AND you’re frustrated. Why is no one picking up what you’re putting down? Don’t give up. — Karin Hurt
NBA Player Carl Landry Demonstrates the Value of Persistence in Life and Work
Written by: Jon Sabes
When you meet Carl Landry, stand-out college basketball player and nine-year NBA player, you imagine that becoming a professional basketball star was a straight forward run for the 6-foot-nine-inch power forward.
However, when you go deeper into Carl’s background, becoming a NBA professional was less than certain and little came easily to the 33-year-old from Milwaukee:
- He was cut from his high school team as a freshman and averaged less than ten points a game when he did play as a senior.
- He started his college career not at Purdue, but a junior college where it was not clear he would play.
- When he finally got to Purdue, he tore his ACL in his knee his first year and reinjured it the next year.
- While his family held a party for him the night of the NBA draft, he slept in the Philadelphia airport after missing a flight following a workout for the 76ers.
- In the NBA playoffs, Carl had a tooth knocked out, but came back in the same game to make a game-winning blocked shot as the Rockets beat the Utah Jazz 94-92.
Landry, who I interviewed on my podcast, Innovating Life with Jon Sabes (www.jonsabes.com), is a remarkable example of the value of “persistence.” In a time where technology creates the image that anything is possible at the touch of a button, persistence is an under-appreciated trait. When I spoke with Carl, I clearly saw someone for whom success has only come through a force of will that made him a NBA player, but it also made him a better player every year he played. That’s the kind of personality that has produced greatness in business as well as sports.
Carl was, in fact, drafted that night he spent in the airport. The Seattle Supersonics chose him as the 31st overall pick and then traded him to the Houston Rockets where he rode the bench for much of the first half of the season. When All-Star teammate Yao Ming was injured, he stepped in and played a key role in the Rockets astonishing 22-game winning streak (the third longest streak in NBA history). And, that season, after sitting on the bench for 33 of the first 36 games, he was named to the All-Rookie second team.
Carl was the first in his family to go to college. “I told myself that this was my ticket out, so I did everything I possibly could to be the best person in school and also on the court,” he said.
His family life in Milwaukee showed him what he didn’t want to do. “Just being honest with you, seeing some my cousins, peers, they went to work for jobs paying six, seven dollars an hour or they didn’t go to work at all and then living off welfare. I didn’t want that.”
When he was first injured, he had to contemplate the end of a career before it even got started. “When you have an ACL tear, it’s over…no more basketball,” he told me. “I said, God, give me health again and I’ll do everything I can to leave it all out on the line and be a successful individual.”
On my podcast, Carl pointed out another interesting lesson he learned in the NBA: Not doing things just to fit in.
“Fitting in was easy,” he said. “Doing everything that everybody else does was easy. If I stood out in some type of way, I’m going to have different results. I’m going to have stand-out results.”
That’s called the “Law of Contrast” and it produces that exact effect of changing the outcomes that everyone else is experiencing. Carl is smart, he recognized that differences make a difference, and doing whatever it takes is what is required to make real, meaningful differences.
Every off-season for the last 11 years, he has run a camp for kids in Milwaukee where he tells youth his story of hard work and persistence. “I always tell the kids to apply themselves and always be persistent,” he said. “If you dream, apply yourself and be persistent. With hard work, man, the sky’s the limit.”
When Carl says the sky’s the limit he means it. He is smart to recognize that it’s important to dream big, because if we don’t – we may be selling ourselves short. “You have to dream bigger than your mind could ever imagine,” he said. “I wanted a nice house. I wanted a nice car. I said, and I got all of that. So, what do I do, do I stop now? Maybe I didn’t dream big enough.” That’s a big statement coming from a kid who grew up to be the first in his family to graduate college and go on to be not only a top NBA basketball start, but a good businessman, father and someone who gives back to the community.
I’m convinced that in whatever he takes on as a basketball player or in his post-hoops career, Carl Landry is not going to stop getting better at whatever he does, and in the process of doing so, make the world a better place.
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