A Wealthy Place (R) Blog

Mattie Moss Clark - Short History (Tribute)

pastor@wealthy-place.org (Mike Holman) — Mon, 6 Jul 2020 07:42:00 -0700

Mattie Juliet Moss Cullum Clark was an American gospel choir director and the mother of The Clark Sisters, a world-renowned gospel vocal group. Clark is credited for creating the three-part harmony (separating vocal parts into soprano, alto and tenor), a technique which is prevalent among gospel choirs today. Discography Going To Heaven to Meet the King (1958) Lord Do Something For Me (1959) Salvation is Free (1965) Wonderful Wonderful (1963) None But The Pure In Heart (1964) A Closer Walk With Thee (1966) Show Me The Way (1967) Lord, Renew My Spirit Within (1968) Mattie Moss Clark and the Clesiastic Sounds (196?) Seek Him And He Will Let You Come In (1971) Humble Thyself (1964) A City Called Heaven (1965) Southwest Michigan State Choir (196?) Southwest Michigan State Choir (196?) Ill Take Jesus For Mine (1969) Salvation Is Free (1965?) The Hand Of God Reached Out And Touched Me (1973) I Dont Know What I Would Do Without The Lord (1974) The Best Of The Southwest Michigan State Choir (1979) COGIC presents Jesus Is The Light Of My Life (1980) COGIC presents I Can Do All Things (1980) COGIC presents Because He Lives (1980) Mattie Moss Clark presents The Greater Williams Temple Choir (1982) Mattie Moss Clark presents Esther Smith Live (198?) Mattie Moss Clark Live at the Miami Beach Convention Center (1985) Dr. Mattie Moss Clark presents The Southern California Holy Gospel Music Workshop (1986) Dr. Mattie Moss Clark presents A Reunion of the Southwest Michigan State Choir... Live! (1995) Dr. Mattie Moss Clark Presents Corey Skinner's Collegiate Voices of Faith (Malaco, 1997) UNAC5 Albums UNAC 5 Vol. 1 (recorded live July 7, 1979) ( A Song Is Born, Volume V (recorded July 4, 1978) UNAC 5 Miami Beach 1980, Volume 1 UNAC 5 Miami Beach 1980, Volume 2 UNAC 5 Miami Beach 1980, Volume 3 A Song Is Born: U.N.A.C. V 1984 god my god Mattie Moss Clark Solo Albums The Wages Of Sin Is Death (1975) He Was Hung Up For My Hang-Ups (1976) I Am Crucified With Christ (1978) Wonderful Grace of Jesus (197?) Make Me That Building Not Made By Hand (1979) Im Not Alone (1979) Thats Christ (?)

Information Age

pastor@wealthy-place.org (Mike Holman) — Fri, 1 May 2020 12:34:00 -0700

Just this week I had to do a paper for a Pace University class I'm taking on one of the historical events that really had an impact on history. The paper had to be somewhat extensive and I thought "Woe Is Me!". Low and behold after conducting a search, I found a website the zeroed in on the Top Ten Historical Events at

BBS HISTORY

Seeing how I love Information Technology, my eyes immediately zeroed in on number 9, The Dawning Of The Information Age.

This was in my opinion a "loaded" topic as there are so many aspects and I had to think of what could I zero in on. I decided to zero in on flow of digital information exchange as I saw it as well as played a role in the early 1990's. Similar to an article I did recently and posted on my Blog, which reflected on my Andrew Jackson High School years, while working on Wall Street in the 1980's, once again to some what you are about to read may seem unclear in terms of trying to get a picture of what was going on, to others it may seem a little clear and yet to others it will be crystal clear. Here's just a little portion of the paper I came up with...

The Information Age brought about computers and the internet.
The factual information is that we are able to do more now than we could prior to the dawning of information age. Computers in their current form today were on-existent. The computers that did exist took up the size of a large room. Computer code was written on punch cards and “fed” into the computers. There is a podcast on iTunes of Bill Gates and Steve Jobs that speak of how things were prior to the real evolution of the information age.

The computers that did exist that could be used by individuals as noted in the podcast had very little memory and hard disk space. Because of this the programs written to run on these computers also had very limited capabilities. The computer programming code existed on tape recorders. I know this personally because I used the computers like this. One of the early computers that were in existence was made by Radio Shack and was called the TRS-80. The computer was not stand alone with a display but rather was more like a keyboard with outlets to input peripherals. To this “keyboard” I connected my TV which served as a display. I also connected little snap in cartridges which contained the programs I wanted to run. There were cartridges for Word Processing, Spreadsheets and even online communications via Videotext Cartridge. There was also a programming language cartridge called Basic Assembler. You could save your work (Wording Docs, Spreadsheets, etc.) on to a Cassette Tape Recorder. To get online I used a cable connected to the keyboard that when into a separate Modem. This Modem connected me to the Information Services that existed at the time such as CompuServe Information Service (CIS). This was the “Internet” for users of the time. You were able to read the latest news, join in Bulletin Board Discussions as well as participate in Live Chat.

Information Exchange was a key part of the Information Age. As the Information Age further evolved, individual users found that that if they did not want to pay for an online information service such as CompuServe, they could create they own exchange of information between one or more users. This was done via the use of Computer Bulletin Board Systems or BBS’s. I ran one of these systems. Users were able to l dial my system (my actual telephone line) and I had my computer setup “ready” to take calls from users. I had Message Boards setup for users to exchange information with each other on my system. A Network of Computer Users evolved that at certain intervals at night would “drop off” messages to other Bulletin Board Systems. The Message exchange would be to the “next closest” system so that eventually the message “drop off” would cover the global. Popular networks of that time were called “Fido Net” Systems where numerically assigned numbers were the “ID” number for the individual computer board systems. The cost was just the phone calls and thus the mail drop offs occurred late at night were rates were low.

At this point the Internet was not in full swing, but E-Commerce was “up and coming” Using these same Bulletin Board Systems users were able to subscribe to services during their dial up session and purchase products using a credit card. The Bulletin Board System would just as it “dropped off” mail, would “drop off” credit card transactions to a card processor for payment. Automation in these early stages was key, so I had my Bulletin Board System setup to automatically take an incoming call, from a user looking to exchange email and/or purchase products. That same evening my system would automatically go offline to drop of mail to the nearest BBS System part of the Fidonet Network and then make another call to process any pending credit card orders.

As the Information Age further evolved having a “Website” was the “in” thing to have. With your Website you now became automatically global. Users could now visit your website and do all of the things they did on your Dial up Bulletin Board System. Once more, while you could only have a limited amount of users on your Bulletin Board System, on the Internet via a Website there was no limit. You would only have to pay additionally charges if you had an exceeding large amounts of traffic called bandwidth. The Internet via a Website allowed for Multimedia which was a big step forward. You could now have Sound, Pictures and Video all on your website to enhance the user experience. You could now offer many of the same services that the online information systems such as CompuServe were offering. This capability often led to the demise of companies such as this because “everybody and their mother” could do the same thing.

Today, my Bulletin Board which was accessed by dialing a phone number is now called up via my website bearing the same name Holman's World. I can offer what I offered on the Bulletin Board Service and much more because of the evolvement of the Information Age.

The Big Online Services like CompuServe provided the “neat and cool stuff”. I found their offerings were quite exciting. The offered very manageable discussion boards. I actually served as Discussion Board Leader in many of these online forums. I saw what the board looked like from an Administrative point and was impressed. Just as companies were developing products for the BBS users, they were also developing products for the Large Online Services as well. As the Online Services could have numerous amounts of users online, their message boards were very large and just trying to read everything was a challenge. Companies developed software that allowed users to read their messages offline whether for a large online service or a Bulletin Board Service, thus saving online cost. These Offline Readers (OLR) were key for all users as they could mark read messages and compose responses to be sent during their next online session, whether on a large online service or on a computer Bulletin Board Service.

In the Information Age, we’ve come a long way and it seems we still have a long way to go as today’s technology is history by tomorrow.

As I did with my Wall Street Article, I'd like to mention again an organization that has played a critical role in technological developements and that organization is BDPA Information Technology Though Leaders (http://www.bdpa.org/) This organization was right at the forefront of the Bulletin Board Systems back in the day and had it's own FidoNet Style network called, BDPANET. Take at look at some the BDPA files from back in the day as well. Also the picture in this Blog post is me presenting an Internet Seminar at a BDPA National Conference actually during the time when the BDPANET and my BBS was in full swing. The Laptop Shown is what I actually used to run my BBS.

This paper mentioned the larger online services and offering such as Chat Sessions. I conducted some of them. What did they look like. Have Look at my Chat Logs from back in the day.

Lastly I tried to share an lesson on two on the regular and called them, "Information Highway Lessons".

Enjoy!

Watch this video relative the Dawning of Age:

Pastor Marvin Winans - "That´s it, That´s All"

pastor@wealthy-place.org (Mike Holman) — Fri, 17 Apr 2020 05:40:00 -0700

Pastor Marvin winans - Preaching "That's It, That's All" at the Azusa Street 2006 West Angeles Chatedral COGIC - Bishop Charles E. Blake

That's What Faith Is For - Myrna Summers and Timothy Wright

pastor@wealthy-place.org (Mike Holman) — Fri, 10 Apr 2020 12:58:00 -0700

That's What Faith Is For (aka That's What Friends Are For" was from the album, "We're Gonna Make It" released on Savoy in 1988. The album was recorded live at Cathedral of Bountiful Blessings COGIC in Memphis, TN. Just a note... You'll notice the late O'Landa Draper in the front row behind the organist. Also in the video is Jeffrey White playing bass

Relationships - Men and Women (read between the lines below)

pastor@wealthy-place.org (Mike Holman) — Fri, 20 Mar 2020 22:46:00 -0700

Relationships - Men and Women (read between the lines below)

The first thing I told my young adults is that the person you are looking to establish an everlasting relationship with has to be God fearing. They my young adults have to also be God fearing.

This is first and foremost. I will break it down Each person should have given their lives over to God. Each person should have confessed with their mouth the Lord Jesus and believed in their heart that God has risen him from the dead. Each person should have received (not begged for) the in filling of the Holy Spirit.

If you don't have the above you will still deal with trouble, but it will be much worse!

If you are both saved, you must realize you are still human. You CANNOT do what MARRIED folk do, when your are NOT married. Don't tempt yourself either. The more you spend time together, the more you will want to spend tim together. You are NOT MARRIED yet, so DON'T DO what MARRIED folk do.

Don't put yourself in situations, where you just windup doing what Married Folks do. You are not married and you do not want the lady to get pregnant and deal with having a child, giving the child up for adoption or WORST, KILLING the child.

Get to know that man or that women. Ask yourself am I ready to spend the REST OF MY LIFE with him or her? Watch how they carry themselves. They may be saved but IS THIS WHO GOD HAS FOR YOU???

You may not get the answers to all of these questions right away and it may take time, you may not find out all the answers until much much later, but this is why you have to be SAVED and HOLY GHOST filled. Trust me, God will provide some of the very answers you need. You have to be willing to listen to him. If you MISS God, just admit it in prayer to him, "Lord I really MISSED you with this person, forgive me and help me". He will for sure, but you HAVE TO MEAN what you are saying and praying. It might be you have to start all over again with someone else, but LEARN from you EXPERIENCES.

This is just a small part, I may be writing a book on this but felt compelled to share this small portion.

Be Blessed, Be Encouraged.

Elder Michael Holman Sr.

Just a video from Bishop TD Jakes with his wife Serita Jakes on RELATIONSHIPS

This Just In...Your Spiritual Economy

pastor@wealthy-place.org (Mike Holman) — Thu, 12 Mar 2020 03:49:00 -0700

This just in...

"To be like Jesus, Oh to to be like Jesus. How I long to be like him." To be a Christian is to be "Christ Like", or just like Christ is.

We have to depend on him for everything we do. If we seek him, we will find him. If we knock the dorr will be open. If we seek him, we will definitely find him.

No matter where we find ourselves in life we must depend on him. He knows the next step we should take. We just need to wait on him.

Isaiah said, even the you would be weary, young men would utterly fall, but they that WAIT upon the lord, sall renew their strength. they shall mount up as eagles with wings, they shall run and not be weary, they shall walk and not faint.

Look at the video I did entitled, "Your Spiritual Economy" below.

65TH ANNUAL SPRING CONFERENCE 'BISHOP FD WASHINGTON"

pastor@wealthy-place.org (Mike Holman) — Sun, 8 Mar 2020 09:29:00 -0700

65TH ANNUAL SPRING CONFERENCE 'BISHOP FD WASHINGTON"

Prophetess/Pastor Sarah Hankins with Bishop Sexton at New Church Opening

pastor@wealthy-place.org (Mike Holman) — Tue, 28 Jan 2020 03:15:00 -0800

Prophetess/Pastor Sarah Hankins with Bishop Sexton at New Church Opening on Jnne 4th 1994. In attendance also was Bishop Baker, Pastor Diogene, Supt. Barlow, Pastor Flood and others. Awesome Service!

Dawning Of The Information Age

pastor@wealthy-place.org (Mike Holman) — Wed, 1 Jan 2020 23:02:00 -0800

Just this week I had to do a paper for a Pace University class I'm taking on one of the historical events that really had an impact on history. The paper had to be somewhat extensive and I thought "Woe Is Me!". Low and behold after conducting a search, I found a website the zeroed in on the Top Ten Historical Events at

BBS HISTORY

Seeing how I love Information Technology, my eyes immediately zeroed in on number 9, The Dawning Of The Information Age.

This was in my opinion a "loaded" topic as there are so many aspects and I had to think of what could I zero in on. I decided to zero in on flow of digital information exchange as I saw it as well as played a role in the early 1990's. Similar to an article I did recently and posted on my Blog, reflecting on Wall Street in the 1980's, once again to some what you are about to read may seem unclear in terms of trying to get a picture of what was going on, to others it may seem a little clear and yet to others it will be crystal clear. Here's just a little portion of the paper I came up with...

The Information Age brought about computers and the internet.
The factual information is that we are able to do more now than we could prior to the dawning of information age. Computers in their current form today were on-existent. The computers that did exist took up the size of a large room. Computer code was written on punch cards and “fed” into the computers. There is a podcast on iTunes of Bill Gates and Steve Jobs that speak of how things were prior to the real evolution of the information age.

The computers that did exist that could be used by individuals as noted in the podcast had very little memory and hard disk space. Because of this the programs written to run on these computers also had very limited capabilities. The computer programming code existed on tape recorders. I know this personally because I used the computers like this. One of the early computers that were in existence was made by Radio Shack and was called the TRS-80. The computer was not stand alone with a display but rather was more like a keyboard with outlets to input peripherals. To this “keyboard” I connected my TV which served as a display. I also connected little snap in cartridges which contained the programs I wanted to run. There were cartridges for Word Processing, Spreadsheets and even online communications via Videotext Cartridge. There was also a programming language cartridge called Basic Assembler. You could save your work (Wording Docs, Spreadsheets, etc.) on to a Cassette Tape Recorder. To get online I used a cable connected to the keyboard that when into a separate Modem. This Modem connected me to the Information Services that existed at the time such as CompuServe Information Service (CIS). This was the “Internet” for users of the time. You were able to read the latest news, join in Bulletin Board Discussions as well as participate in Live Chat.

Information Exchange was a key part of the Information Age. As the Information Age further evolved, individual users found that that if they did not want to pay for an online information service such as CompuServe, they could create they own exchange of information between one or more users. This was done via the use of Computer Bulletin Board Systems or BBS’s. I ran one of these systems. Users were able to l dial my system (my actual telephone line) and I had my computer setup “ready” to take calls from users. I had Message Boards setup for users to exchange information with each other on my system. A Network of Computer Users evolved that at certain intervals at night would “drop off” messages to other Bulletin Board Systems. The Message exchange would be to the “next closest” system so that eventually the message “drop off” would cover the global. Popular networks of that time were called “Fido Net” Systems where numerically assigned numbers were the “ID” number for the individual computer board systems. The cost was just the phone calls and thus the mail drop offs occurred late at night were rates were low.

At this point the Internet was not in full swing, but E-Commerce was “up and coming” Using these same Bulletin Board Systems users were able to subscribe to services during their dial up session and purchase products using a credit card. The Bulletin Board System would just as it “dropped off” mail, would “drop off” credit card transactions to a card processor for payment. Automation in these early stages was key, so I had my Bulletin Board System setup to automatically take an incoming call, from a user looking to exchange email and/or purchase products. That same evening my system would automatically go offline to drop of mail to the nearest BBS System part of the Fidonet Network and then make another call to process any pending credit card orders.

As the Information Age further evolved having a “Website” was the “in” thing to have. With your Website you now became automatically global. Users could now visit your website and do all of the things they did on your Dial up Bulletin Board System. Once more, while you could only have a limited amount of users on your Bulletin Board System, on the Internet via a Website there was no limit. You would only have to pay additionally charges if you had an exceeding large amounts of traffic called bandwidth. The Internet via a Website allowed for Multimedia which was a big step forward. You could now have Sound, Pictures and Video all on your website to enhance the user experience. You could now offer many of the same services that the online information systems such as CompuServe were offering. This capability often led to the demise of companies such as this because “everybody and their mother” could do the same thing.

Today, my Bulletin Board which was accessed by dialing a phone number is now called up via my website bearing the same name Holman's World. I can offer what I offered on the Bulletin Board Service and much more because of the evolvement of the Information Age.

The Big Online Services like CompuServe provided the “neat and cool stuff”. I found their offerings were quite exciting. The offered very manageable discussion boards. I actually served as Discussion Board Leader in many of these online forums. I saw what the board looked like from an Administrative point and was impressed. Just as companies were developing products for the BBS users, they were also developing products for the Large Online Services as well. As the Online Services could have numerous amounts of users online, their message boards were very large and just trying to read everything was a challenge. Companies developed software that allowed users to read their messages offline whether for a large online service or a Bulletin Board Service, thus saving online cost. These Offline Readers (OLR) were key for all users as they could mark read messages and compose responses to be sent during their next online session, whether on a large online service or on a computer Bulletin Board Service.

In the Information Age, we’ve come a long way and it seems we still have a long way to go as today’s technology is history by tomorrow.

As I did with my Wall Street Article, I'd like to mention again an organization that has played a critical role in technological developements and that organization is BDPA Information Technology Though Leaders (http://www.bdpa.org/) This organization was right at the forefront of the Bulletin Board Systems back in the day and had it's own FidoNet Style network called, BDPANET. Take at look at some the BDPA files from back in the day as well. Also the picture in this Blog post is me presenting an Internet Seminar at a BDPA National Conference actually during the time when the BDPANET and my BBS was in full swing. The Laptop Shown is what I actually used to run my BBS.

This paper mentioned the larger online services and offering such as Chat Sessions. I conducted some of them. What did they look like. Have Look at my Chat Logs from back in the day.

Lastly I tried to share an lesson on two on the regular and called them, "Information Highway Lessons".

Enjoy!

Watch this video relative the Dawning of Age:

"The Family Of God, Together" : Pastors Michael & Sharon Holman

pastor@wealthy-place.org (Mike Holman) — Thu, 28 Nov 2019 14:57:00 -0800

"The Family Of God, Together" : Pastors Michael & Sharon Holman

Pastor Holman, founder of A Wealthy Place COGIC of the First Jurisdiction of East New York of the Church Of God In Christ and First Lady and Pastor Evangelist Holman of DON'T NOBODY LISTEN TO ME MINISTRIES. Jurisdictional Prelate, Bishop James Gaylord (Kelly Temple COGIC), 1st Assistant to the Bishop Supt Willie G. Robinson. The Gold Coast District is made of up powerful Men and Women of God. The message was topic was "The Family Of God, Together" taken from Hebrew the 10th Chapter. In this Audio Pastor Holman has been called upon by his Spiritual Father in the Gospel, Supt. Curtis B Sexton of Bethel Emmanuel Temple COGIC to bring the Morning message. The Late Prophetess and Pastor/Founder of Bethel Mission is Mother Sarah Hankins, Elder Holman's first Spiritual Mother in the Gospel and her assistant then was the late Elder Alfred Diogene.

David Imonitie

pastor@wealthy-place.org (Mike Holman) — Sat, 8 Dec 2018 18:25:00 -0800

Watch David Imonoitie at https://youtu.be/C56nDEgEgXg

Then get more at

http://holmansworld.whatisiml.com/tour.html

IML Tour

pastor@wealthy-place.org (Mike Holman) — Sun, 16 Sep 2018 17:00:00 -0700

https://photos.app.goo.gl/Q4AYuRx9PsZHke59A

Get more info here!

IML Super Saturday August 25th in New York

pastor@wealthy-place.org (Mike Holman) — Mon, 20 Aug 2018 17:45:00 -0700

Signup For iMarketlive is at https://myimarketslive.co/mholmansr/

📊 iMarketsLive Presents: IML SUPER SATURDAY Join us in New York, Saturday, Aug 25th at 10:00am for an incredible gathering of Chairmans, Traders, IML Educators, and Financial Professionals as we bring the Forex and Crypto Markets to Life and show people how to actually win BIG in the Foriegn Exchange Markets!

Multi-Millionaire iMarketsLive CEO and 25+ yr Trading Verteran Christopher Terry will be speaking and hosting a very special Forex Training.

Come experience the the markets through the eyes of one of the most qualified individuals in the industry for an experience you'll never forget!

• Registration: 10:00am (Arrive Early for Good Seating)
• Overview: 11:00am (For Guest)
• Recognition and Testmonials: 11:45am • Quick Break: 12:30 (15min Recess)
• Fast-Start Training: 1:00pm (For New Members) • Forex Training by Chris Terry: 1:30pm

Pre-Register for event at IMLSuperSaturday.EventBrite.com for FREE TICKETS!

#AllRoadsLeadToIMLSoars S

Signup For iMarkets Live is at https://myimarketslive.co/mholmansr

Soldier Knows Best - Google Voice

pastor@wealthy-place.org (Mike Holman) — Thu, 11 Jan 2018 05:40:00 -0800

Google Voice gives you more control over your phone calls. With Google Voice, you get one number for all your phones, cheap international calls, voicemail like email, and more, for free! (US only)
Learn more at http://www.google.com/voice

Pastor Derrick Hutchins (Say A Word Sir!!!)

pastor@wealthy-place.org (Mike Holman) — Mon, 20 Nov 2017 19:32:00 -0800

The Audacity Of Hope by Dr Jamal Bryant

pastor@wealthy-place.org (Mike Holman) — Sun, 10 Jul 2016 09:15:00 -0700

"Enticements" and "Snatching Back Our Children" by Mike Holman

pastor@wealthy-place.org (Mike Holman) — Sat, 25 Jun 2016 18:25:00 -0700

If you have been following our quotes on our Wealthy Place ® Facebook Page, you know that we have just finished up our readings on the Psalms and are now starting the Book of Proverbs. Reading Proverbs 1:10-19 you will find the words, "If sinners entice thee consent thou not."

dictionary.com defines "entice" as "to lead on by exciting hope or desire; allure;"

Over the years of sharing information with my children, I often tell them to watch who they associate with. Parents know that, as brought out in this Psalm, our children (and even us!) can be "enticed".

Many of us, not even involved in the church or religion, know a powerful truth. The longer our children associate with the wrong group, the stronger the chances of them becoming just like the group they associate with.

We have challenge with our children in school spend alot more hours away from us then they do with us. This is why we need to prayer over our children for God's keeping power. We need to ensure they know the way of salvation (not by forcing it down their throats!) and they they only need to "Confess with their Mouth and believe in their hearts that God has risen his son from the dead and they can be saved." We need to encourage them to receive (no beg) for the infilling of God's Holy Spirit. If you follow my "Monday Morning Prayer on Blog Talk Radio" you know I often try to include this in the prayer.

My lessons to my children is to never be intimidated by others. Never feel you have to gain another friends approval. You don't owe them anything. Our Children so need to hear from us (in loving words and tones), that there is a better way to life. I tell my children, never let anyone tell you, "You can never reach that goal". I tell them through Christ (if they have given their lives to him) they can DO ALL THINGS!

I tell my children that these "so called" friends will try to convince you that you have to "to what they do" to be cool. Often "what they do" can., make you a parent before marriage and way before your time, get you a prison record, get you killed or much more. How many of use know people we grew up with who are "no longer in the land of the living" due wrong associations.

I believe often our children may not even ever think of doing wrong acts, but they are "enticed" not only by so called Friends, but "The Internet", "TV", "Movies" and more. As I'm re-reading the Book of Proverbs, there are many "Virtues and Vises" that let you know the enjoyment of some of these things that others "entice" us will soon pass away.

It is a challenging job to raise children and try to "shield" them from these "enticements" but with God,"All Things Are Possible"

As I was reading this Psalm 1:10-19, I developed a stronger burden for "The Next Generation" as the enemy is trying to "Snatch Them Away", I'm determined, as you and many others, to "Snatch Them Back!"

What are your thoughts?

Yours In Christ,

Mike Holman

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Author Michael Lewis discusses The Big Short and the future of finance

pastor@wealthy-place.org (Mike Holman) — Wed, 13 Jan 2016 19:43:00 -0800

Author Michael Lewis discusses his book The Big Short: Inside the Doomsday Machine, the future of finance as he sees it, and his thoughts on whether today's business students have a chance at changing it. Part of the Dean's Speaker Series, co-sponsored by the Center for Responsible Business as part of its Peterson Series on Sustainable Finance. (September 13, 2010) The University of California Berkeley Haas School of Business is one of the world's leading producers of new ideas and knowledge in all areas of business - which includes the distinction of having two of its faculty members receive the Nobel Prize in Economics over the past 15 years. The school offers six degree-granting programs. Its mission is to develop innovative business leaders - individuals who redefine how we do business by putting new ideas into action, and who do so responsibly. The school's distinctive culture is defined by four key principles - question the status quo; confidence without attitude; students always; and, beyond yourself.

Get The Kindle Edition with movie tie in here

After thirty five years on Wall Street, what I believe was a critical part of the cause of the Financial Crisis has been told in a book by Michael Lewis, which is now a movie. "The Big Short": author Michael Lewis on 'betting on Armageddon' during the global financial crisis; making of star-studded new film. Read more at Here...http://trkn.co/g/2899

Prophet Brian Carn - The 2015 Visitation in Jackson, MS

pastor@wealthy-place.org (Mike Holman) — Sun, 4 Oct 2015 14:03:00 -0700

TD Jakes Message - "The Secret To Elevation"

pastor@wealthy-place.org (Mike Holman) — Fri, 2 Oct 2015 18:52:00 -0700

TD Jakes Message - "The Secret To Elevation"

Regardless of the assignment on your life, your career, or the other circumstances you are currently experiencing, the root of your walk with God must be your FAITH. It is the anchor that holds you fast against the storms of life and propels you into God's purpose and blessings for you. In this timely series, Bishop T.D. Jakes highlights the necessity of living by faith while expounding upon its various facets each believer must appropriate and practice.

"Jesus said that nothing would be impossible for you. If you believe that word, your entire life would become so exciting!" --Bishop T.D. Jakes

CD - https://store.tdjakes.org/p-2828-work...
DVD - https://store.tdjakes.org/p-2829-work...

Watch every week at http://www.tdjakes.org/watchnow

Bishop Noel Jones - "Life By Design"

pastor@wealthy-place.org (Mike Holman) — Wed, 23 Sep 2015 16:01:00 -0700

Bishop Noel Jones - Life By Design

Affiliate Marketing - The Money Is In Commissions

pastor@wealthy-place.org (Mike Holman) — Thu, 17 Sep 2015 21:18:00 -0700

THE MONEY IS IN COMMISSIONS!!!

Those that know me, know my background is in Financial Services. Some of the biggest gains that happened during the Major Mergers and Acquisition during the Financial Crisis, as outlined in "Too Big To Fail" by Andrew Sorkin, (Read The Book or Watch The Movie) were those who orchestrated the deals and got big payments (commissions). Commissions rule across multiple industries and Affiliate Marketing is a key player.

According to an Entrepreneur's article, around two billion in Affiliate Marketing fees were paid in 2008, I have no doubt this amount has drastically increased.

The article deals with having your own (preferably multi-page) site and sending traffic to someone elses earning a percentage of commission.

Using these types of links was the subject of my blog over three years ago dealing iwth "Where I See The Money."

So what forums or communities exist to help you learn???

Digital Point

aBestWeb

Warrior Forum

So who are the key Affiliate Networks??? Have a look see at some:

Clickbank,

Commission Junction

Google AdSense

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Part 3: Wall Street Custody Middle Office – A Day In The Life Of A Custody A/C Officer

pastor@wealthy-place.org (Mike Holman) — Tue, 8 Sep 2015 12:24:00 -0700

As noted in our previous segment, we are continuing our segment, “Wall Street Custody Middle Office – A Day In the Life of a Custody A/C Officer. In this segment we will cover Foreign Exchange. As noted in my online resume, I got my start in Foreign Exchange in the year 1991. For the next five years I learned a lot about the Foreign Exchange Back Office and interacted with many colleagues in the Middle Office, I would eventually began to work in in 1996 after transferring from FX Support to Investment Manager Services. As I write this piece I am literally walking distance from that location where I got my first glimpse of the FX Support Business at 101 Barclay Street, downtown, Manhattan, NY.

I started out in the remittance area as an Assistance Supervisor where a lot of retail FX deals take place. I later moved to Confirmations area and the Multi-Agreement Processing (MAP) Unit where I was Supervisor. These groups touched more on the Custody Middle Office Business where I would later work as an Assistant Treasurer and Custody A/C Officer. In these groups, as FX Deals (Spots, Forwards, Swaps, etc.) were done between brokers, confirmations of these deals were also done via phone with the Counter Parties where the Custodian did the FX and well as Swift Messages (MT300) being sent. Confirmations were critical because due to an exchange rate discrepancy, the recorded conversation between the confirming parties was the only real proof used by the FX Investigations Unit. . As any given point I could be on the phone with say a Middle Office Administrator in the say the Mutual Funds Group, confirming an FX Done with the Middle Office and the FX Trading Front Office for the Mutual fund client. It was often during the Confirmation Process it was agreed on how the client’s funds would be charged for the US portion of the FX. We had been inputting a code on the FX Details system page to indicate we would process manual tickets to charge the client’s account. I realized that by putting in an alternate code you could charge the client’s account directly via the same System Detail page. The saved the department at least twenty thousand dollars monthly in manual processing and also made the Custodian Bank’s Newsletter as our team earned an award. Process Improvement is so critical in our business!

The same Custody Clients I would later serve as a “Single Point Of Contact” were doing massive FX Deals As a Custody client purchased a security in which they had to pay in Egyptian Pounds (EGP), they needed an Foreign Exchange deal to cover that trade. Often they would use their custodian bank to do the Foreign Exchange (Buy EGP and Sell USD) and cover the security purchase. We are covering the FX part of the deal here but we did cover some parts of the Security deal and what to watch for in our very first segment in this series.

Of interesting note I found later in my Middle Office activities (back in 2006) is that I found that Egypt had trades that settled over the weekend. The challenge here was that many Custody systems only reflected settlement dates on Business Week Days from Monday through Friday. So while the FX Deal to cover the Egyptian Security Purchase settled on a Monday (crediting the clients account the EGP), the Security may have settled on Sunday (debiting the clients account the EGP). The client’s foreign currency statement which keeps a running daily balance, might reflect an overdraft for Sundays’ Debit, not cleared until Monday. This may result in Debit Interest or Negative Interest. The Sub Custodian (where the settlement of Securities and Cash actually occur in the local market) might not reflect this on their books. Adjustment may just need to be made on your Custodian’s System to correct the debit interest such as a correcting FX deal (Cancel/Replace) to reflect the FX settling Friday, instead of Monday.

As moved to the Middle Office, whet I learned in the both the Securities and FX Back Office was critical. I knew what went into setting up a Securities Trade as well as an FX Trade because I had done it. When in a crunch for time, I could go right to the right people in the Back Office or even the Front Office Traders because I already had established a relationship. Whether Internal or External Clients, it’s all about The Relationship!

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Wall Street Custody Middle Office – A Day In The Life Of A Custody A/C Officer (Part 2)

pastor@wealthy-place.org (Mike Holman) — Wed, 2 Sep 2015 09:18:00 -0700

In my quest to cover “A Day In The Life…”, I present Part 2 in this series. The Overall them is Client Service and is applicable not just to Custodian Banks Bank and Middle Office, but many other Industries. As noted in my first LinkedIn Pulse Posting, “Wall Street, seen through the eyes of a Student”, I’ve have the opportunity to see “The Street” very early in my career, and I’m happy to share what I’ve learned.

In our previous segment, we spoke about the monitoring of Trade activity and with primary goal being to “get in front” of potential issues. As I thought about this latest segments one of the things I want to cover is Relationships. I mentioned at the end of the previous segment dealing with locating missing funds for your client where the Paying Agent insists they paid. So my client, an Investment Manager, had one key question, “Where were the funds?” In my situation, what was missing was an Income Payment in that should have been made in cash. The amount was something like forty thousand dollars. I had to conduct a series of Conference Calls with the Paying Agent Contacts (My firm actually happened to be the Paying Agent in this case). Key to Client Relationship was continually keeping the client in the loop. Letting the Client know that while I did not yet have a final resolution, I was working on getting one.

I learned that the Paying Agent paid this payment and all income payments directly to a Central Depository, who in turn was to then credit the various client accounts who were holders of this security. As fortune would have it, I had contacts at the Central Depository having worked there as well and also I kept the contact information of key individuals. I went through the normal channels at the Central Depository who relayed the information that they could not find any payment that was not paid. I then used the Manager contacts I had at the Central Depository in hopes of getting more clarity on what might have happened with the funds. Through these contacts I found out my client’s funds were sitting in suspense account at the Central Depository unapplied. I had the funds credited to delight of my client. I failed to mention that client in the past on their own opened up their own investigation with our Paying Agent contacts as well as the Central Depository using the regular channels with no results. You want to cultivate your relationships (keeping names and numbers) in your career as you never know when you might come full circle and need assistance. Those relationships were critical in getting the results that my client was not able to get. I also failed to mention that the client had this issue as a long outstanding issue and I took on the whole relationship after this issue had been outstanding for a while.

I’ll repeat that it’s important to keep a Client Relationship Management (CRM) database always on hand, which can be an address book in its simplest form. If you regularly email your clients (Internal and External) and sometimes there are both Individuals and Groups, you will want to keep within your address book individual names as well as group names. In a global environment you may have Individuals and Groups located in the U.S., Europe, Asia, Latin America, South Africa, The Middle East, etc. Trying to remember group names for either Internal or External Clients can be a challenge, having this info immediately available in some email programs as soon as you start typing a name is critical. You may have Counterparty Contacts that you often communicate with, you may want to have a Group Name representing your contacts at that Counterparty. Back in the early days we use to have something called, “The Red Book”. This book contained all the key contacts “On The Street” or rather who did business on Wall Street. The Red Book would have contacts for various Departments. Even if the individual contacts changed, the central number listed in The Red Book would often point you in the right direction. I like electronic copies recorded in an address book, versus sticky notes and sheets of paper whenever possible, ensuring that your data is backed up or archived.

Let me also mention that getting the research done and facilitating the conference calls often happened outside of the working hours of nine to five. As mentioned in our previous segment, it may seem crazy but a lot of what “gets done” in our business is done outside of the hours of nine to five. When you have a group of clients that you service, servicing them all and just dealing with the items settling that day, can take up your nine to five. To “get things done”, you have to, without question, put in time way before nine and way after five and maybe even some weekends.

I mentioned in my last segment in addition to dealing with the client, you also will find yourself dealing with other groups. Some days you will have to explain to the Accountant why a particular security was booked the way it was booked. They may need characteristics to verify pricing info as an example. Compliance Officers may want to question the details of a payment to a beneficiary to a country on the “Blocked” list. You may be getting a request from an External Auditor that needs an audited statement. These are the reports that have already been validated by your Accounting Group. In addition to these groups, you have may have various other emergency requests that come up. Investigations alone can often take up a good portion of your day.

Stay tuned for upcoming segments where we will also cover Foreign Exchange as it relates to our topic with Securities, Cash, Negative and Positive Interest.

Mike Holman

http://mikeholman.com/

Wall Street Custody Middle Office – A Day In The Life Of A Custody A/C Officer (Part 1)

pastor@wealthy-place.org (Mike Holman) — Tue, 1 Sep 2015 16:00:00 -0700

Having worked in the Back Office and then in the Front Office within the Custodian Space responsible for Domestic and Global Trades, Cash, Income, Corporate Actions and more, I began to reflect on my experiences and decided to start something of a “Day In the Life Of…” series surrounding just “some” of the aspects of the Middle Office.

As you prepare to start your day working for a Custodian bank, it’s critical that you are mindful of the Financial Markets your clients (in my case primarily Investment Managers) are dealing in. If your clients only deal in Domestic Trading and you are in the U.S. then you know that most of your trades will be settling in the U.S. If your clients do Global Trading your trades can settle in various markets.

Because of Global Settlement, while you are sleeping say in the U.S. you may be having a trade issue in Asia. To combat this, remote access to your email and even possibly your settlement system is critical. Often trades have an indicator if they have been “PreMarched” based on the system used by your firm and in some cases if trades are not Pre-Matched, you will be able to tell exactly why “Pre-Matching” has not occured (i.e. Counterparty Short, CounterParty know Different Amount, CounterParty has no instructions, etc.) When you notice these “Pre-Matching” fail indicators early you can closely monitor those trades. If you have certain Markets that have become problematic, you can monitor trades in those markets. (Note if certain trades consistently have issues in certain Markets, you may want to get your Network Management Team involved or if that is you, you may want to yourself look into the possibility of changing Sub Custodians. I think it’s very fortunate that you are not always locked into one Sub Custodian, but may often have a choice.

In dealing with Global Settlements, it’s good to check your Trades due to settle soon are PreMatched if they should be before you leave for the day, maybe later that evening and in the AM before you reach work. It may seem a bit crazy but some markets, the earlier you detect issues the better. You are the key contact your clients have to finding out what’s going on with their Global Trades in their local markets (US, Europe, Asia, Latin America, etc.). At the start of your day, your client’s key questions relate to what can you tell them about the status of their trades. You need to be able to say if a trade is failing, why and what is being done about it. You will rely on your company counterparts in the local markets (settlement teams) for updates and answers.

During this period it is critical that you have reporting in place for yourself and your client so you can know that status of your trade activity, cash activity (will your accounts be long or short at the end of the settlement day), corporate actions, income, etc. Your reporting will help in Dashboard building/Deep Dive Analysis to determine a number of things such as consistency in trades failing done with certain counterparties or done in certain markets, Cash Projections, Corporate Actions, etc.

It can’t be overstressed that your client knows that they are your key priority. They need to know you are going to bat for them to ensure excellence in client service. If you client is an Investment Manager, when they get new clients and need a Custodian, guess who can be at the top of the list?

When you’re looking for missing client income payments, the paying agent insists they paid, but your client’s account never got paid, Working with The Accountants, Auditors, Compliance and more in the upcoming segments.

Mike Holman

http://mikeholman.com/