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27A – Reading Reflection No. 3

27A – Reading Reflection No. 3 1. The most surprising thing I found out was how Steve Jobs picked the name, Apple. I assumed he picked the name because it is his favorite fruit. Apparently he picked it because one day after coming home from an apple farm, Steve Wozniak and him were bouncing ideas off each other and Jobs thought an apple was fun, spirited and not intimidating. To me the name is still puzzling, but it’s different. Which in essence describes Apple perfectly. 2. The quality that I liked most about Steve Jobs was also the trait that I disliked the most. He had unrelenting confidence in himself and what he designed. Whatever he said was the final answer. He is very similar to Elon Musk in that they both set extraordinary high standards and demand the best from their employees. He micromanages in order to make sure everything is perfect and has been able to build incredible technology with minimal resources in a short period of time. However, his nar
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28A - Your Exit Strategy

28A – Your Exit Strategy My exit strategy is to run the company until it has over a billion dollars in annual revenue. Then I aspire for the company to be acquired by a company such as Groupon for roughly 15 to 30 billion dollars. I believe if I can expand into markets such as Miami and Manhattan within three to five years and expand into other demographics with a more diverse product line, then my company can easily have over 500 million in revenue within five to ten years.   And over one billion in revenue within fifteen years. The problem will be staying ahead of the competition and creating new products to expand our market share. The reason I chose to be acquired instead of running the company until I retire, is because my true passion is the stock market. I want to take my proceeds from the venture and start my own hedge fund. Eventually creating the largest and most respected hedge fund out there. Since my plan is to be acquired I have three things in mind that I think ar
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26 Celebrating Failure

Celebrating Failure  I have failed severely three times this semester while doing options trading. In an extremely simple sense, options trading is a trader betting a security will either go up or down in a specific period of time. The reason I failed was because I kept using the same strategy and it clearly didn’t work. I did what is called buying on the dip. Basically when a stock falls a significant amount, you buy it at the bottom hoping it will rally back.   I tried to do technical analysis to see the support and resistance lines and plan my entrance and exit strategy. After losing big on GoPro, Qualcomm and Snapchat, I decided enough is enough! Undoubtedly my strategy is not effective and unless something changes my account balance will get lower and lower. Learning from my mistakes I have updated my strategy and merged value investing with technical analysis. This means I initially only look at the fundamentals of the company, i.e.: the company’s balance sheet, income
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