Walk Your Own Path

Paid Digital Video Subscription Services market share

2015-03-13T10:09:00.002-07:00

Casino's business

2015-03-11T09:56:00.002-07:00

Casino

Media Industry

2015-03-10T20:59:00.001-07:00

How Does Media Industry Work?

Reh Digest 03/09/2015 Jobs No More

2015-03-09T21:56:00.001-07:00

All is good about Apple watch, except one:

In order to use the watch in a non-watch way, the watch needs to be paired with an iPhone!

Think about this for couple minutes; why will anyone use the tiny watch screen when an crispy iPhone is in couple feet's reach? I would not. (Right now, I am typing on a 19-inch Mac Book, with my iPhone6s lying nearby. Bigger is always better when it comes to meet the eyes. At least, that is my case as I am getting closer to wear a bi-focal. )

Reh Digest 03/01/2015: Buffet 2014 Shareholder Letter

2015-03-01T14:57:00.002-08:00

The letter was released over the weekend. I have been trying to digest it in past days.

It has so much wisdom, from both Buffet and Charlie, that makes me wanting to read it again and again so that I can digest it well .

I am kind of feeling sad realizing that Buffet is actually getting old and will be eventually retire and be gone. In my mind, there is no second person in this world that can have his level of wisdom, especially in the sense of business.

Why DE, Not CAT?

2015-02-24T14:09:00.001-08:00

Fundamentally, CAT is actually looking better than DE, or at least at par.

Why did Buffet go with DE, instead the No. 1 spotted CAT? It is due to the management team.

Deere is led by CEO Sam Allen, a 37-year Deere veteran who was promoted to the role in 2009. Allen’s predecessor heavily emphasized metrics like total shareholder value added and operating return on assets. Continuing to emphasize an alignment between management and employee incentives, the top 1,000 most senior employees receive stock options, with the top 125 required to hold a minimum multiple of their salary as Deere stock or options. The company’s metrics-driven approach has been successful, demonstrated by the past decade’s 19% average ROIC. Deere’s first priority is maintaining its A credit rating, which is valuable to keeping its financial-services business competitive with non-captive financing outlets and ensuring liquidity over the duration of the business cycle. After ensuring balance sheet health, the company takes on capital deployment opportunities that exceed its 12% return on operating assets hurdle. After meeting these two priorities, the company pays a 25%-33% dividend payout ratio of mid-cycle earnings and deploys remaining cash flow via share repurchases. To a large degree, these repurchases have added value and reflect an internal opinion of Deere’s intrinsic value. Over the past decade, Deere has distributed 58% of its cash flow from operations to shareholders through dividends or buybacks.

For CAT, Doug Oberhelman joined Caterpillar in 1975 and was head of the engine division before becoming CEO in 2010. Brad Halverson, formerly the vice president of financial services, is now CFO. Many of Caterpillar’s senior leaders have spent many years at the firm and have been rotated throughout the business. Although Caterpillar’s senior and business line leaders have different operating responsibilities, they are all measured on how much value they generate above a 15% pretax return on tangible assets threshold. On a business unit level, managers are assessed on asset turn velocity, safety performance, product quality, and market share gains. The combination of these metrics has generated an attractive growth profile over the past decade and the company has done a good job navigating the current mining downturn and the 10% consolidated revenue decline that it generated.

What Are The Educational Subjects?

2015-02-23T23:27:00.002-08:00

Accounting

Agriculture

Arts & Architecture

Business & Management

Chemistry

Computing

Culinary & Hospitality

Earth, Space & Environmental Sciences

Economics

Education

Engineering & Materials Science

Humanities

Law & Criminology

Life Sciences

Lifestyle

Mathematics & Statistics

Medicine, Nursing & Dentistry

Physics & Astronomy

Psychology

Reference

Social & Behavioral Sciences

Veterinary Medicine

World Languages

Coffee

2015-02-23T22:49:00.003-08:00

Types of Coffee Drinks and Varieties

Most people when looking at the menu in a coffee house have no clue on what to order and have no idea of the difference between a cappuccino from an Espresso or an Americano. The list below will help you appreciate the menu better and also help you decide what is best for your palate –

Coffee can be had on its own as in Espresso or with added milk, lemon or brandy.

Espresso

Espresso has no milk, just pure coffee. Most traditional coffee recipes revolve around a single or double espresso shots. If you are a coffee connoisseur then you should try and learn how to make one.

It is generally made from a single 1 oz shot of coffee made with 7 Gms of finely ground coffee extracted at between 18 and 25 seconds. There are many recopies and this is small selection to choose from –

Americano (American) – This is espresso shot that is diluted to taste with hot water. The name was given to insult Americans who the Europeans believed were not up to drinking full espressos.

Black coffee: Coffee served with no milk.

Cappuccino

Cappuccino usually consists of equal parts espresso, steamed milk, and frothed milk. All this makes the coffee taste more diluted and weaker. Some coffee shops will sprinkle cinnamon or flaked chocolate on top and other will add more milk than others. All shops make some variance to suit the taste of regular customers.

Dry Cappuccino

This is a regular cappuccino but without steamed milk and small amount of foam.

Flavored coffee

These are made to taste and more a local tradition. A great variety exists in different parts of the world. The flavor can be either a mix of syrups, spices (eg. cinnamon), flavorings or nutmegs that are added to the coffee and give coffee a different taste.

White coffee

A black coffee with milk added.

Cafe Latte

Cafe Latte has more milk than a cappuccino. It is one part espresso with at least three to five parts ofsteamed hot milk with a small amount of froth on top. Latte in Italian means ‘milk’, so be careful ordering one when in Rome.

Cafe au Lait

Similar to ‘ Caffe Latte’ with an equal milk to coffee in the ratio of 1:1, It is made from brewed coffee and not from espresso. The taste is milder and less intense due to it consisting 50% milk.

Cafe Breva

A cappuccino made with half and half milk, instead of whole milk. The theory is that the mix gives a richer, creamier flavor. You should be aware, before trying this for yourself, that half and half is much harder to foam.

Cafe Macchiato

A shot of espresso with steamed milk added. The ratio of coffee to milk is approximately 4:1.

Cafe Latte Fredo

It is a type of cold coffee. Cafe Latte Fredo is an espresso mixed with cold milk in similar proportions as a Cafe Latte that is usually shaken well with ice in a cocktail shaker.

Cafe Mocha

Quite popular with the ladies or after dinner coffee. It is one part espresso with one part chocolate syrup and two or three parts of frothed milk. You could also ask for some whipped cream. Mocha was the popular coffee port route in the 17th century.

Espresso con Panna

Another espresso that is topped with a small amount of whipped cream.

Espresso Granita

A kind of cocktail coffee! It is one shot of espresso that is mixed with a teaspoon of soft brown sugar and on this is added a splash of brandy. It is then frozen, crushed and served in a parfait glass with whipped cream.

Frappe

This is a cold espresso and popularly ordered in some cafes in Europe and Latin America during summer months. Generally prepared using 1-2 teaspoons of instant coffee with sugar, water and ice. The brew is next placed in a long glass with ice, and milk turning it into a big coffee milkshake.

Turkish Coffee or Known also as Greek Coffee

A different preparation from the usual coffee. It is thicker and made usually made in an ‘cezve’ which is a long-handled, open, brass or copper pot. Finely ground coffee and water are boiled together to making a mix of muddy and thick coffee. Once it is made it is served in smaller cups called ‘Demitasse’ cups. Sugar and sometimes cardamom pods or spices (more Arabic) are added before it is brewed and all this is left for sometime to allow it to settle before it is sipped. In Greek coffee Chicory is used and cracked cardamom pods to Turkish coffee.

Indian (Madras) filter coffee

The popular ‘South Indian’ filter coffee is made from fresh ground, dark-roasted coffee Arabica or Peaberry beans. It is left for a few hours to drip-brew in a traditional metal coffee filter. It is served with coffee to milk ratio of usually 3:1.

Instant coffee (or soluble coffee)

These have become very popular over the years due more to convenience and some people are not even aware that there are so many other tastes to try out and when served the real coffee fail to appreciate the aroma and its taste. The coffee is available in packets as granules or soluble powder.

Hammerhead or Shot in the Dark

This is a mix of espresso and drip coffee in a regular-sized coffee cup. Many cafes rename this drink further to their own names or as per to their needs.

Iced coffee

This is a regular coffee served with ice, and sometimes milk and sugar.

Cuban coffee

Cuban coffee is a type of espresso, which is sweetened with natural brown sugar as it is being brewed. A common method for making Cuban espresso is to add few drops of the espresso to the sugar and mix vigorously till it results in a creamy, light brown paste. The remaining espresso is then added to the light brown paste creating a light brown foam layer, atop the coffee.

Arabica coffee

Coffee Arabica also known as ‘mountain coffee’ is a species of coffee that is believed to produce the finest coffee beans. The beans from this plant contain less caffeine than any other coffee plants. Coffee Arabica has aromatic tones that offer a smooth, pleasing taste.

Irish coffee

If you want to have whiskey with coffee try this coffee. It consists of coffee that is spiked with Irish whiskey, with added cream on top. Best suited for a cold winter night to keep you warm.

Kopi Tubruk

If you visit islands of Java and Bali in Indonesia you can try this coffee. It is similar to Turkish or Greek coffee as it very thick.

Lungo

This is 2-3 shot of espresso and has more water to pass through coffee grounds.

Ristretto

The name means ‘restricted’. It is like Lungo, but exactly the opposite as it has less water with 0.75 oz espresso.

Melya

Coffee with honey. Made by using coffee that is mixed with 1 teaspoon of unsweetened powdered cocoa and drizzled honey. It can be served with cream.

Vietnamese Coffee

Uses more and like south Indian coffee uses a metal mesh. Hot water is dripped through the metal mesh and after this the intense brew is poured over ice and sweetened with condensed milk.

If you are a heavy coffee drinker and wish to reduce the number of cuppa, there are also several coffee substitutes available in the market. These include green tea, licorice tea, black tea, ginseng tea, or even decaf. Some have negligible caffeine content while others (like decaf) have much lesser caffeine constituency than regular coffee.

Who Controls America?

2015-02-23T22:25:00.001-08:00

Finance, Media, Government, Social Engineering, ...

要健康,吃疏果

2015-02-23T20:45:00.001-08:00

Why Did Buffet Give Up XOM?

2015-02-21T12:13:00.005-08:00

Reh Digest 02/20/2015 Ralph Lauren

2015-02-20T11:27:00.003-08:00

I happen to be a fan of polo.com, and frequently spend money on it.

When it plunged last week, I was kind of shocked. With its branding power and popularity amongst the well-off consumer group, its profitability is relatively sustainable.

Checked around, I found following information. It is interesting to put them together, even though I still don't digest this information well. Anyway, here you go.

Latest Guru Trades with RL, as on record 02/20/2015:

Andreas Halvorsen	2014-12-31	Sold Out	0.53%	$156.25 - $186.73	$ 136.97	-21%	0
Robert Olstein	2014-12-31	Reduce -16.22%	0.13%	$156.25 - $186.73	$ 136.97	-21%	31000
John Burbank	2014-12-31	Sold Out	0.05%	$156.25 - $186.73	$ 136.97	-21%	0
Joel Greenblatt	2014-12-31	Reduce -68.02%	0.03%	$156.25 - $186.73	$ 136.97	-21%	9699
Ray Dalio	2014-12-31	Sold Out	0.01%	$156.25 - $186.73	$ 136.97	-21%	0

Reh Digest 02/03/2015 What a Day, and some thoughts on Credit Cards

2015-02-03T16:16:00.000-08:00

Looks like January's bad is all done right in this 2 days :-).

How many types of non-cash payment method? Credit card, pre-paid debt card, PayPal, Apple Pay? ... what are their differences?

What is the population that is relying on these non-cash payment methods?

About Credit Cards

Top 10 Credit Card Issuers

JPM Chase
Bank of America
Citibank
American Express
Capital One
Discover
Wells Fargo
HSBC
US Bank
USAA FSB

======================================================================

An example stat from July 9th, 2014:

Credit Card Ownership Statistics

Medical School	Data
Total number of credit cards in use in the US	1,895,834,000
Total number of US credit card holders	199,800,000
Percent of people in the US polled who did not have a credit card	23 %
Average number of credit cards per person	3.75
Average age when receiving first credit card	20.1
Percent of credit card owners with a gas card	11.9 %
Percent of card holders who have a rewards credit card	60 %
Card Type Breakdown	Percent of Issued Cards
Visa	36 %
Master Card	27 %
American Express	6.5 %
Discover	7.2 %
Other	23.3 %
College Student Credit Card Ownership
Percent of undergraduate students with a credit card	76 %
Average credit card debt of an undergraduate student	$2,200
Percent of undergraduates who had no credit history	2 %
Percent of undergraduate students with 4 or more credit cards	48 %
Percent of incoming freshman who already have a credit card	39 %
Percent of students who pay their card in full each month	65 %

Reh Digest 01/29/2015 COH after almost 3 years

2015-01-29T09:11:00.000-08:00

Coach finally released some good news.

Looks like the new strategy is working. Checking coach.com, the Spring Collection looks very nice and attractive with some class; checking amazon.com, the discount is no longer so deep (event though I believe customers are paying more for the same piece of handbag).

We'll see how it pans out next 6 months.

Reh Digest 01/25/2015 --- high school teenager suicide

2015-01-25T13:38:00.002-08:00

Once again, I am heartbroken for the child, his family and the society when the news broke that a Gunn senior did the silly thing yesterday morning! Why would a high school senior finding such a way to give up? A lot of discussions arose since yesterday, with most of them to be touching areas that are so commonly debated, for a solution out. In my mind, there is one thing that is missing in today's society, that is to educate the kids to build themselves for the human society! In my country where I grow up, there is a term for it called "ideal".

Back then, we were taught to set up an ideal, no matter what it is. That actually worked for me, at least. I had a hope to become a famous scientist, with idol of Madam Curie! Believe it or not, it helped me to across many hurdles, when I didn't want to work anymore, it told me to standup and continue.

Nowadays, kids are buried by the material-world mentality which is so trendy in the adult world. They compare the sizes of houses, the brands of their cars, the destinations of their vacations ...... one thing they forgot --- kids have no sense of comprehend these material stuff yet; instead, they translate that to the grades at school, the achievements they can get at their extra curriculum (EC), and ultimately the college they get into. To one end, this motivates the kids to work hard; on the other side, the kids collapse if they can not reach their goal, because they think the world is ending if they can not get what they set out to grab. What can happen when someone feels his/her world is ending?

So, parents, schools and society need to take a u-turn. Instead of feeding the kids so much of the material incentives, we shall start to feed the kids some stuff that is not so visible that they won't know it is not reachable until they are adult and ready to face the reality; then, they are ready to take the correct view and find out something more practical to achieve! I call this a "back to the ground way of raising children"!

What Are Popular in China?

2015-01-20T09:56:00.002-08:00

Chinese Top Brands

Yes, The Little Coach Bag story

2015-01-16T15:02:00.001-08:00

Is it time for Coach to come back?

Several interesting points.

1, Little Things can be BIG

Women’s handbags

Women’s handbags are the company’s mainstay and core product category. These accounted for 55% of revenues, or $2.6 billion, in fiscal 2014. Each quarter, the company launches three or four handbag collections, with four to seven styles within each collection.

Women’s accessories

These primarily include small money pieces, wristlets, and cosmetic cases that complement handbags. This product category also includes key rings and charms. Almost 22% of Coach’s sales, or ~$1 billion, came from this category in fiscal 2014.

Men’s products

These include business cases, computer cases, totes, messenger bags, wallets, belts, and card cases, among other things. Men’s products also include time management and electronics pieces. Although this category accounted for only 9% of revenues, or $0.7 billion, in fiscal 2014, Coach is focusing on the category as a key growth driver for the future.

2, Money is in Women's Pocket

3, Marketing is a BIG Thing

4, Competition

21st Annual Conference - ROUNDTABLE III

2015-01-14T15:14:00.001-08:00

Avon Products

2015-01-13T14:30:00.001-08:00

It is in big trouble.

Check this out,

naturals-blushing-cherry-blossom-shower-gel

The plastic bottle itself can cost quite a bit!

Household Income Chart

2015-01-13T12:37:00.003-08:00

Reh Digest 01/13/2015

2015-01-13T11:21:00.000-08:00

Market took a U-turn after half of the trading day. What does this mean?

Entertainment Industry is not bad

2015-01-11T21:59:00.002-08:00

Golden Globe Award

Top players are always financially rewarded decently

Just like every other industries. For example, how many dead startups to get one Google!

GS Plan

2015-01-11T11:15:00.000-08:00

Reh Digest 01/04/2015 main points of Wealth of Nation by Adam Smith (1)

2015-01-11T11:05:00.001-08:00

Chapter 1, Worker to Specialize in one area

Chapter 2, Self Benefit is the motivation behind every single trade between human beings; ONLY beggars rely on other people's sympathy

Chapter 3, Labor Division is limited by the size of a market (smaller market less efficient)

Chapter 4, Currency is for the convenience of trade

(to be continued)

Reh Digest 01/11/2015 --- another industry that is in jeopardy

2015-01-11T11:05:00.000-08:00

Wearables, high rents pose a challenge to gym operators