Ask, Know, Do

Undefeated College Basketball

Before Indiana in 1976, only North Carolina, San Francisco and UCLA ever won the NCAA tournament as undefeated teams. 

There hasn't been an unbeaten team at a Final Four since 1991, when Duke upset UNLV in a national semifinal, handing the Runnin' Rebels their first loss of the season.

In the December 1, 1975 edition of Sports Illustrated, College Basketball Issue, the Hoosiers were No. 1.  Behind Coach Bob Knight's security blanket, the Hoosiers were assembling an all-around game that surpassed their last season's rugged combination of offense and defense.  Coach Knight admitted, "There's great senior leadership.  These players are as aware of how hard they should be working as any I've had."

Back then, Marquette Coach Al McGuire said, "Indiana has the best team with the best players and the best coach."

There had been no ill effects from Indiana's last year, when the team swept to a 31-0 record before suffering a 92-90 loss to Kentucky in the NCAA Mideast Regional.

Now there is so much conspiring against an undefeated season that few basketball coaches can relate to Kentucky's Coach John Calipari at this point. 

But there was a Division III men's basketball team that went undefeated in 1998. That team was Wisconsin-Platteville.  Its coach was Bo Ryan.  Now at Wisconsin.  His next game is Saturday against Kentucky.

Source: The Wall Street Journal, April 1, 2015

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An Often Overlooked Holiday

In 1979, President Jimmy Carter signed a proclamation declaring the first Sunday after Labor Day would annually be honored as National Grandparents Day.

What most people today are not aware of, however, is the history behind this holiday. Marian McQuade, a housewife from West Virginia, is known as the initial advocate of Grandparents Day. A lifelong advocate of the aging, McQuade encouraged grandchildren across the country to relish in the rich history and wisdom of their grandparents’ years.

National Grandparents Day, an often overlooked holiday, falls on Sunday, September 7^th this year.  It is a time to bring family members of all generations to spend time together.

Planning fun, engaging activities makes it easy to bridge the gap between multiple generations.

On National Grandparents Day, New York City is a great place to find these intergenerational activities, no matter where your interests lie. New York Foundation for Senior Citizens (NYFSC), the only non-profit, non-sectarian social service organization serving elderly throughout New York City’s five boroughs, recommends the following activities: 

1.    Picnic: Take a trip to the local market or grocery store and pick up lunch foods to restore the lost art of picnicking in the park, whether it is Central Park or the nearest one to you. On a fall afternoon, it is the perfect weather to sit outside and enjoy a meal together. Consider bringing lawn chairs to maximize comfort. http://www.nycgovparks.org/ 

2.    Art: Stop into a pottery painting studio.  Since the ceramics are bare, you can set your creative spirits free. At the end, you will have a nice take-home to remember the day. Studio fees range from $0 to12; pottery pieces range from $4 and up. http://www.timeout.com/new-york-kids/things-to-do/where-to-paint-your-own-pottery-in-nyc 

3.    Touring: Book a riverboat tour on the Hudson River. Relaxing on the water is a great way to see New York City from a new perspective, and maybe even learn a new fact or two. Cruises last between one to two-and-a-half hours and prices range from $20 to $40 per person. www.circleline42.com 

4.    Theatre: Purchase tickets to enjoy a Broadway spectacle together. Enjoy a classic musical together such as Lion King, or opt to see a fun, edgy performance like Kinky Boots.  http://www.stubhub.com/theater-tickets/ 

5.    Sports: September is a great time to attend a sporting event. Take advantage of your proximity to the US Open and attend an intense tennis match. Baseball games, whether you’re a Yankees or Mets fan, are an American classic.

http://usta.usopen.org/US-Open/ticket_plans/

http://newyork.yankees.mlb.com/ticketing/index.jsp?c_id=nyy

http://newyork.mets.mlb.com/nym/ticketing/seating_pricing.jsp 

Honesty in Scholarship

This school newspaper editorial, in The B.H.S. BUGLE published by members of the Sophomore Class, was written by Margretta Luff, Editor-in-Chief, in the Spring of 1933 and remains as relevant today as it was 80 years ago:

HONESTY IN SCHOLARSHIP

We, the pupils of Broadalbin High, should take some interest in our school life, especially scholarship.  One of the most important things essential in scholarship is honesty.  When we say honesty, we do not compare it with scholarship; we do not seem to think of it in that way.   It does not necessarily refer to stealing and copying papers.  Some of us are not honest enough with ourselves.  We let our work slide along until examinations; then we think that we should receive just as high a mark as our friend that studies.

We have been climbing steadily in the past years toward scholarship; but we have not, as yet, acquired a desire for obtaining high marks.  We indulge more in athletics than we do in study.  We think that it has more effect on our friends.  We secretly wish to give more time for our studies, but we think we cannot take time for that.

Last year, one of the Broadalbin girls won a scholarship which will help her through four years of college.  We like to boast to other cities about it; but we do not really try ourselves for this high honor.  Also last year, we turned out more college entrance diplomas than either Gloversville or Johnstown.  We could do this for many years to come if we only would keep this spirit and try to be honest with ourselves.

 The Life of Margretta

18th Century Cricket

Members of the British Brigade will visit Johnson Hall State Historic Site on this Saturday August 17^th   10:00 – 4:00, to play 18^th Century Cricket. The event is co-sponsored by Johnson Hall State Historic Site and the 24^th Regiment of Foot of the British Brigade. 

The British Brigade Inc. is a NYS Board of Regents charted living history organization that demonstrates the military activities and social pastimes of those British and American soldiers and their families, who served their country loyally during the American War of Independence. 

Johnson Hall will serve as an elegant setting for the tournament, as Brigade members play the original version of this 18^thcentury pastime. Period spectators will watch on the sidelines, creating a splendid outdoor scene, as they dine and relax among their comfortable field furnishings. 

There will be no food vendor on site, spectators are encouraged to bring their own picnic lunch, locate a comfortable place in the shade and enjoy the matches. To complete the experience, opportunities will be made available for the public to try their hand at Cricket. 

Matches are scheduled to take place on Saturday between 10:00 AM and 4:00 PM. Major Paul Novotny will deliver game history and playing instructions at both 10:00 AM and 3:00 PM with matches following. A special match scheduled at 1:00 P.M. to be played by teams representing the 24^th Regiment of Foot and St John’s Episcopal Church. 

Admission to the house and tournament is free. Donations to support this and other events at Johnson Hall are always appreciated. 

Johnson Hall State Historic Site is located at 139 Hall Avenue in Johnstown, just off West State St. (State Hwy 29 West). For more information on this event please contact [email protected] or call 518-762-8712

 Cyrus Durey: Frontiersmen of the Adirondacks: Economic Development in Early North America

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Ask the Coach: Developing a Winning Attitude

Q:  With the football season going strong and the basketball season just around the corner, I was thinking about how I could transfer the “winning attitude” that sports teams have to my company team.  Any suggestions?  

A:   We have mentioned that leaders improve their company by instilling confidence in each employee’s ability to meet and overcome workplace challenges.  Experience has taught us that confidence precedes competence.  A person in the office or a player in a game must first believe he or she can succeed by developing a winning attitude reinforced by skill-building practice.  

As each person’s talents are built into strengths and then merged with others in the team, a positive energy emerges.  This energy force builds and reinforces each individual’s confidence to create a critical mass which is often referred to as “momentum” or “being in the zone.”  It is the coach's job to keep the momentum going; so as not to lose the positive energy flow.     

Here is a checklist of ten questions to help you evaluate how well your firm is building a winning attitude and the practiced ability to succeed: 

1. As the coach of your team, how much have you spent in the past year on personal development to improve your management and leadership skills?
2. List what time and money was spent per employee over the last year in training and development activities to build on workplace talents.
3. Does each manager have a good relationship with each direct report and know what that person needs to move to the next level in the firm?
4. Does each employee have a clear understanding of what they can to do to increase their value to the company?
5. In the last six months, has someone in the company talked to each employee about their progress in building skills and knowledge?
6. During the past year, how many employees believe they had an opportunity at work to learn and grow?
7. How many employees would say that their opinions at work count?
8. How many employees know the vision or purpose of the company?  Of those who know, how many consider their job important in accomplishing this vision or purpose?
9. How many employees would say that they have a best friend at work?
10. Who would the employee go to with a suggestion, complaint or concern at work?

For your team, the best thing you can do is to demonstrate your leadership through one-on-one interpersonal relationships.  You do this by participating in respectful conversations where you recognize your own feelings and those of others in building safe and trusting relationships. 

Here are four guiding principles for one-on-one respectful conversations:

1.  It's OK to begin a conversation by confronting the other person with questions
that seem awkward but set the stage for a respectful exchange.  Why waste time
on small talk?  Just ask to-the-point information-seeking questions, like: "What are
you here for?  How do you want to spend our time together?"

2.  Conversations are not meant to be structured.  Be open to conversations that
you are unprepared for and focused on the interests of the other person (not your
purpose).

3.  Don't get pulled into solving problems that may not matter to the other person.
Allow time for the person to get to what's really important.  Provide spaces where
people can express their doubts and fears by being a thoughtful listener--without
taking on the responsibility to fix or debate the issue.  After all, you have invited
the person to talk about what matters to her or him, not you, so allow time for
the articulation of those thoughts and feelings.

4.  Personal transformation happens when the right questions get asked--not by
providing answers.  When you focus on the solution, you are trying to sell the person
something.  When you allow people to answer their own questions, they discover
what they were not aware of and what is needed to move forward.   

Confidence and energy are leading indicators of workplace performance.  Effective coaching can happen on the dance floor of conversation.  You build employee confidence and energy through coaching conversations that pull people toward becoming comfortable with personal responsibility and commitment.

 John Agno: Ask the Coach

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Delegating

Pro Football Plays Defense Against Deflation

You've heard (and probably used) the phrase, "I'd rather watch the game on television."

It's what a sports fan says if he doesn't want to face traffic jams, inadequate parking, overpriced tickets, noisy crowds, and possibly a poor view of the game.

These days, however, something else is keeping professional football fans at home: deflation.

Since the economic slowdown that started in 2007, fewer people are willing to fork over money to attend games. In turn, NFL teams are forced to play defense with ticket prices.

A Sept. 10 Yahoo Finance article points out that "10 teams lowered ticket prices this year," and that, "average ticket prices to attend [an Atlanta] Falcons home game are down 8.1% this season. This is the biggest drop among the 30 NFL cities."

Overall, NFL attendance has dropped 4.5% since 2007.

The article goes on to say: "It's telling us that the overall economy still isn't as strong as it was back in 2007 ... . It's also telling us that the upper-end consumer is still retrenching, they're still pulling back. They haven't felt the burst of either better employment numbers or better income and they're actually attending fewer games."

A weak economy leading to lower game attendance leading to lower ticket prices is a "domino effect" -- and it says plenty about how deflation works in the larger economy.

The psychological aspect of deflation and depression cannot be overstated. When the social mood trend changes from optimism to pessimism, creditors, debtors, producers and consumers change their primary orientation from expansion to conservation. As creditors become more conservative, they slow their lending. As debtors and potential debtors become more conservative, they borrow less or not at all. As producers become more conservative, they reduce expansion plans. As consumers become more conservative, they save more and spend less. These behaviors reduce the "velocity" of money, i.e., the speed with which it circulates to make purchases, thus putting downside pressure on prices. [emphasis added] These forces reverse the former trend.

Conquer the Crash, second edition, p. 91

 Robert R. Prechter Jr.: Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression

Even so, many observers say the economy is past due for a recovery. They promote this view despite the evidence, which points to the new deflationary trend.

Most economists are unwilling to abandon the growth consensus, but the reality of an economic contraction is starting to become unmistakable.

The Elliott Wave Financial Forecast, August 2012

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Learn Why Deflation Is the Biggest Threat to Your Money Right Now Discover Robert Prechter's views on the unfolding deflationary trend by reading the 90-page report, The Guide to Understanding Deflation. This guide will help you understand the signs of deflation and allow you to prepare for what's to come. Plan and prepare for your financial future. Download your FREE 90-Page Deflation eBook now. >>

This article was syndicated by Elliott Wave International and was originally published under the headline Pro Football Plays Defense Against Deflation. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

  Robert R. Prechter Jr.: Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression

Patience Can Be Rewarding

Copy the tiger when stalking and capturing a "pounce-ready" trade.

Tigers know the prey they covet is elusive: they show great patience and care when stalking the target.

I came across this description of the tiger's technique:

"When hunting, this cat...may take twenty minutes to creep over ground which would be covered in under one minute at a normal walk...the tiger will sometimes pause...move closer and so lessen that critical attack distance...before finally raising its body and charging.

"...they wait until a victim comes close and spring up...This ambush method of hunting uses less energy and has a greater chance of success."

You must "ambush" high confidence trades. Long-time professional trader and teacher Dick Diamond says patience is vital before the ambush.

I talked to Diamond about his famous 80/20 trade, which he means literally -- he says it has at least an 80 percent chance of success. It's the only trade set-up Diamond will take.

------------

Q: Could you tell me about the 80/20 trade?

Diamond: The 80/20 trade is based on indicators that create a specific trading set-up. A trader must act on this set-up immediately. You must wait, and then pounce like a cat when the opportunity presents itself. Then you set stops. In shorter time frames, like trading from a five minute chart, the 80/20 set up may come along a few times a day. If you're trading a longer time frame, like off of a 120 minute or 240 minute chart, the 80/20 will come along less frequently, but when it does, the opportunity will be bigger. The 80/20 trade can be especially rewarding for position traders. Sometimes the indicators reveal what I call 90/10 or even 95/5 trades.

Q: What emotional factors do students need to work on the most?

Diamond: Traders must be calm and confident. You can't be a Nervous Nellie and succeed at trading. Calmness comes from learning the proper trading techniques.

Q: What's different about trading today vs. when you started out in the 1960s?

Diamond: When I started trading, execution took up to five minutes -- now it takes less than a second. Time is money, so computers provide a great advantage to today's trader compared to pre-computer days. At the same time, while computers allow the trader to see multiple indicators on the screen, one must avoid indicator overload. One must learn to narrow down the number of indicators.

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Get instant access to our FREE report from Veteran Trader Dick Diamond In this 12-page report, you will learn practical tips and tricks from veteran trader Dick Diamond. He and his assistant, Roberto Hernandez, share many of their time-tested techniques with you, with excerpts from interviews and course materials designed to accelerate your trading progress. Download your FREE 12-page report today >>

This article was syndicated by Elliott Wave International and was originally published under the headline The 80/20 Trade: "Pounce Like a Cat". EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

March Madness isn't all about Basketball

You got your brackets filled out before the NCAA Men's Basketball Tournament's opening game on Thursday afternoon. Good -- now sit back and enjoy the games.

But if you're looking for a good read during the numerous and lengthy time outs, we've got just the thing.  It's the most important investment report you will read in 2010.  Forget the theoretical and hypothetical sorts of analysis that occupy so much space online.  Bob Prechter gives 22 real-life examples of how deflation is beginning to spread in the U.S. economy -- along with 13 charts that make the examples even clearer.

You want to know whether to prepare for inflation or deflation? This report will answer your questions.  Read this excerpt to see what we mean.

Oh, and try to forget that a No. 2 seed (Villanova) almost got upset in the first round and that Georgetown, a No. 3 seed, got beat by Ohio University, a 14 seed.

* * * * *

States Are Broke and Approaching Insolvency
While state “regulators” clamp down on profligate banks, the same states’ legislatures continue to blow money. For years, state governments have been spending every dime they could squeeze out of taxpayers plus all they could borrow. (The lone exception is Nebraska, which prohibits state indebtedness over $100k. Whatever Nebraska’s official position on any other issue, by this action alone it is the most enlightened state government in the union.)

But now even states’ borrowing ability has run into a brick wall, because the basis of their ability to pay interest—namely, tax receipts—is evaporating. The goose—the poor, overdriven taxpayer—is dying, and the production of golden eggs, which allowed state governments to binge for the past 40 years, is falling. The only reason that states did not either default on their loans or drastically cut their spending over the past year is that the federal government sucked a trillion dollars out of the loan market and handed it to countless undeserving entities, including state governments.

“It’s hard to imagine what happens when stimulus money runs out,” says a budget expert. (USA, 10/29/09) But it is not at all hard to imagine what will happen. Conquer the Crash imagined state insolvency seven years ago. The breezy transfer of money from innocent savers to state spenders is going to end, and when it does, states will cut spending and “services” drastically. They will also default on their debts, which will be deflationary.

Elliott Wave International's latest free report puts 2010 into perspective like no other. The Most Important Investment Report You'll Read in 2010 is a must-read for all independent-minded investors. The 13-page report is available for free download now. Learn more here.

 Robert R. Prechter Jr.: Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression