But seriously, IMF in its latest World Economic Outlook Update, continues to project global growth to decelerate significantly in the second half of 2008, with only a gradual recovery in 2009. IMF is forecasting a moderate contraction in US economy during second half of 2008 and a slowdown in Euro area and Japan. China, while slowing, is expected to expand by 10% in 2008-09. Inflation is a core concern, driven by higher food and fuel prices in many countries.

I suppose, we should be thankful that our economic worries are much more manageable by comparison.

Here’s the full BBC News article on Zimbabwe:

Zimbabwe introduces Z$100bn note

Zimbabwe is to introduce a bank-note worth Z$100bn in response to rampant inflation - but the note will barely cover the cost of a loaf of bread. Some Zimbabweans are already calling for higher denominations in a country where the official annual inflation rate has exceeded 2,200,000%.

Independent economists believe the real rate is many times higher.

Zimbabwe’s meltdown has left at least 80% of the population in poverty, facing mass shortages of basic goods.

The country’s central bank has introduced several new notes already this year in response to the hyperinflation.

In January, a Z$10 million note was issued, followed by a Z$50 million. By June the denominations had reached tens of billions.

Daily bread

In a notice in the state-controlled Herald newspaper, central bank governor Gideon Gono said the Reserve Bank of Zimbabwe would introduce the new notes - known as special agro-cheques - to help consumers.

“This new $100 billion special agro-cheque will go into circulation on Monday,” the notice said.

But Zimbabwe residents say the latest note is already worthless, and does not even cover their daily lunch.

“Nowadays, for my expenses a day, I need about Z$500 billion,” one resident said.

“So Z$100 billion can’t do anything because for me to go home I need Z$250 billion, so this [note] is worthless.”

Zimbabwe was once one of the richest countries in Africa.

But it has descended into economic chaos in recent years, with many international observers blaming the policies of President Robert Mugabe.

Tags: Real, Analysis,, inflation,, financial, analysts

The most successful salesperson focuses not on “what can I get”, but “what can I give”. By salesperson, I don’t mean you have to be selling a physical product. You can be a broker selling stocks, a financial analyst selling ideas or any professional marketing yourself and your services.

Yesterday, I had the unfortunate experience of meeting an entrepreneur who was only interested in himself and selling his products. The only valuable take away I got from the meeting was a reiteration of the dos and don’ts of successful selling. Otherwise, it was a total waste of my time.

Respect your client’s time
Make sure you check your organizer for the correct appointment time. This salesperson had our appointment time wrong. He called to reschedule two hours after our appointment which I had unwisely accommodated. I personally know a few business people who have a rule to not do business with anyone who is late for their first appointment. Tough as it may sound, they said that it is a good indicator of the trustworthiness of the person.

Practice active listening
Peculiarly, this person who has extensive experience in business consulting barely listened to my words or body language. He was probably thinking ahead what he wanted to say to me. Although I had the initial 10 minutes to say a few words, the rest of the hour was almost a monologue. The majority of the time, he was staring into space instead of looking at me. When the hour was up, I was packing to leave but he was still rambling on.

What’s in it for the client?
I wouldn’t mind listening to a 50-minute monologue had he focused on the benefits that his services would provide me. It was all about his products and product features rather than solutions and benefits for me. Had he listened to me in the first ten minutes, he would have heard that I do not have a want or need for his products. People buy benefits and solutions to their problems.

Respecting your clients choices
Your prospect may or may not decide to buy your product or hire your service. Sometimes the product is right but the timing isn’t. I was quite annoyed to hear the salesperson criticize my business when he hardly knew anything about it. Imagine when you recommend a great investment idea to your client, if there isn’t a strategic fit to your client’s portfolio, he would probably let it pass.

There is much more to successful selling. I hope these are just a few tips to help you with your next sales presentation whether you are marketing your products or your ideas or yourself. Everyone is always marketing something, especially financial analysts .

Tags: selling,, marketing,, financial, analysts,, real, analysis

I can’t believe I did it again. I said “yes” to an invitation when what I really wanted to say was “no”. It’s been a long time since I had given in to a friendly nudge. I knew all too well that my schedule this month is fully booked. I didn’t want to disappoint my friend who was totally excited about her upcoming event.

Has this ever happened to you too? It’s incredible that one of the shortest English words is actually among the top three most difficult things to say. (The other two are “help me” and “I love you”.)

In that brief moment of trying to be nice, I have neglected my own needs. I have created an internal conflict that put me in a dilemma. I felt obligated to attend the event but I couldn’t fully enjoy it because I was preoccupied with my tight work schedule.

Being able to assertively say no is a major part of setting personal boundaries. Having personal boundaries doesn’t mean we’re being unfriendly. In fact, these boundaries are essential to maintaining healthy relationships, both at work and at home, in the long term.

As a financial analyst, do you feel obligated to keep taking on more responsibilities even when you’re already overloaded with work? Are you worried that saying no would place you in the bad light with your co-workers or your boss? Do you make known your personal commitments when some non-urgent do-it-now assignments pop up?

“Maxim for life: You get treated in life the way you teach people to treat you.” - Wayne Dyer

This recent experience of mine is a reminder of this truth. My friend wouldn’t know about my busy work schedule this month unless I tell her about it. Having clear personal boundaries help with:

• Attending to our own needs
• Clearly expressing our needs to others
• Assertively and respectfully articulating how we want to be treated
• Managing external conflicts
• Prevent internal conflicts
• Effective time management

To successfully set healthy personal boundaries is a simple three-step process:

1. Understand your needs
2. Assertively express your boundaries
3. Implement and monitor your boundaries

If you’re ever unsure or don’t really know how to respond on the spot, ask for a little time. Think it over what your needs are and respond diplomatically where your boundaries are. If you’re unable to meet the needs of the other person, suggest alternative solutions to help them.

I’m sure that as a financial analyst, you have a lot to juggle with between your work and your personal life. Apply your boundaries both at work and after work. You may be amazed to find that your co-workers, friends and family are pleased to hear clear, unequivocal messages from you on your preferences.

______________

Related articles:

• You Can Say NO!

• Setting Boundaries in the Workplace

• The Big Energy Bandits in the Workplace

Tags: financial, analysts,, Communicating,, conflict, management,, time, management

An ideal schedule is the next logical step to make use of the insights I gathered from the time audit last week about my time spending patterns. It goes hand in hand with a time audit. Having an ideal schedule doesn’t mean that you have to stick to it all the time. Every day is different, and especially so for a financial analyst. The goal is to adhere to it for 80% or more of the time.

An ideal schedule covers my activities in a typical week. It resembles a page in the week-at-a-glance organizer. The time of the day is on the left column and the days of the week on the right. I applied the “pay yourself first’ concept that I mentioned in A Secret To Making Time For Yourself. I began by blocking off time for personal commitments, including my exercise time, family time and personal time. Then I block off my work hours.

The next step, I sub-divided my work hours into categories. I reserved the first three hours of my work days, which are my most productive work hours, for high payoff actions. High payoff actions are the ones that yield the highest results for my efforts. My client calls are scheduled twice a week in the afternoons, once in the morning and once in the evening. Emails and phone calls are twice a day – before lunch and at the end of my work day. I end my day with planning for my next. Administrative work is on Friday afternoons.

Develop your own one-week ideal schedule after you have compiled the information you collected from your time audit. Remember to incorporate your observations from the time audit to help you decide the best way to allocate your time. Are you most productive in the mornings or afternoons? You probably have some regular commitments such as morning conference with your team or some monthly networking meetings to attend.

I understand that everyday is different and in the financial world, there are constant changes. Having the ideal schedule will ensure that all elements of your life are covered although you may not be able to commit to it 100% of the time. Having a routine would help you to develop a habit. In my case, this stops my urge to open every email as soon as it arrives at my mailbox. It helps me develop the discipline to always start my day with the most important task in my most productive work hours.

Have a go at your own ideal time schedule. As a financial analyst, you’ll probably have less flexibility over your work hours. The ideal schedule is a guideline. It will incorporate all your components of your life to make sure nothing important is being left out.

Tags: Time, management,, financial, analysts

I am starting a time audit for myself this week. It’s basically a log tracking my activities in 15-minute slots for one week. The last time I did this was almost two years ago. This is a good time for me to do a re-audit given the recent transition of my career focus and changes in my daily routine.

The left column of my worksheet is the time in 15-minute slots and the right columns are categories of how I spend my time. Some of my categories are:

Productive work, un-productive work, interruptions
Business calls, personal calls, email
Administrative, planning, reading/learning
Exercise, breaks/meals
Self, family, fun and more…

With this information, I can easily tally the time for each category and identify patterns. It may seem tedious at first but I guarantee this is a simple yet powerful exercise.

My time audit indicates that I’m most productive in the mornings and evenings but least focused in the afternoons. This means, I might as well stop resisting the notion of working in the evenings. Instead, I’ll move my family time from evenings to late afternoons, continue to reserve my mornings for high-payoff actions and do my readings and planning in the evenings.

If you have a full time job, you probably won’t have as much flexibility. Your audit result should still be able to identify your time bandits for you. Are you constantly reacting to your incoming emails? Can you spot any interruption patterns? Can you delegate any of the time drainers? When are your more productive and un-productive hours?

What’s more, the time audit will reveal your value and expose your weaknesses. Where do you spend most of your time? The answer tells you what you value the most. What are you avoiding the most? Is it time for you to work on and pay attention to it?

Mine says I’m inconsistent with my morning exercise routine. It’s a reminder that I should be more disciplined and maybe consider moving my exercise time to the late afternoons when I’m not as focused at work.

The last time I did this, I was amazed that I “found” almost 10 hours in a week by re-scheduling some activities and removing some time drainers.

Audit your time for a week and let me know what insights you gain from this simple exercise. Don’t let a full time job as a financial analyst keep you from being creative with your own schedule.

Tags: Time, Management,, financial, analysts,, business, anlaysts

• Passion for the business
• Independent judgment
• Creativity
• Curiosity
• Internally driven but not externally competitive
• Willingness to put in the hours
• Listen to other people’s opinion
• Good ethics and high integrity

LISTEN TO THE INTERVIEW:

[See post to listen to audio]

(26 minutes)

Do any of these surprise you? Now compare this list with my recent post, 30 Qualities Of An Outstanding Financial Analyst from the viewpoint of financial analysts. Passion is a recurring theme and is conspicuously the top attribute to succeed in the field or any field for that matter. I most certainly agree with Tom that it is easy to tell if someone truly has a passion for the business.

I have always been a big believer that everyone should pursue his/her passion. Success without passion is success without fulfillment.

Based on Tom’s experience, only two of ten candidates possess the qualities listed above. That’s excellent opportunity for you! All you have to do is to develop these qualities, to give you the edge to be among the top 20% of the candidates.

The even better news is that ALL of these qualities can be developed, including passion, according to Tom. I’ve always thought that passion only comes from within. It is encouraging to hear that it takes less time to develop these qualities than to become a CFA charter holder.

Assuming you already possess these skills, how do you differentiate yourself from the other candidates in an interview? Financial analysts today all have solid financial knowledge. Although the job market isn’t as gloomy as the media suggests, Tom admittedly says that there are more candidates vying for the same positions.

Tom has some excellent advice for you on how to prepare for an interview to greatly enhance your chance for a second meeting. I invite you listen to the audio for the full details.

The Curran Group has experience and significant presence in the financial industry and continually has searches for many fields in the industry. For more information, visit www.curransearch.com. To learn more about the latest openings, you can contact Tom Budinger or Laura Russell-Jones at 415-956-9990.

I would love to hear your feedback on this first Expert Interview. Invite your friends to listen to this call with Tom Budinger if you enjoyed it.

I look forward to your suggestions on any topics or experts that you’d like me to include in our Expert Interview. It is my intention to bring more experts to share their insights with you here on Financial Analyst Blog.

Tags: Career,, financial, analyst,, business, analyst,, job, interview,, expert, interview

I guess my mind want to take a break from more writing. Last week, I was immersed in a writing project which I finally finished two days ago. I am half-inclined to procrastinate while half-heartedly surfing the internet for ideas.

This is when I came across The Ultimate Guide to Motivation, an excellent post in Zen Habits. I thought if I followed some of the 20 ways to sustain motivation, as suggested by Leo Babauta the writer, maybe I would be able to finish this post in no time.

The writer says “just start.” But I don’t really feel like writing today. Besides, my mind is still blank. Maybe I should just start later.

He also says, “Be aware of your urges to quit, and overcome them.” Is he reading my mind? Okay, now I am very much aware of my urges to quit but how do I overcome these thoughts? I’ll just start typing away any thoughts that come to mind this instant, like how I’m struggling with writing this post.

“Never skip two days in a row.” Two days only! This means I mustn’t skip writing today. My schedule is already full for the next three days. It’s now or three days later.

“Stay accountable.” I have committed myself to at least two posts per week. I guess by making this known in my blog, I’m committing myself publicly to you, my audience.

“Read inspiring stories.” Thanks Leo. I’m glad I stumbled across your blog. It was exactly what I needed today.

“Just get through the low points.” My fingers are typing away. This means ideas are transferring from my head to the Word document. Cool. I’m already through my low point without realizing it.

“Get excited again!” The writer says to think about why I was excited in the first place. I do have many big plans for this blog. I have meetings lined up the next few days to bring my big plans a step or two closer to materialization. While I was surfing for writing ideas, I came up with more exciting ideas for this blog as well!

“Chart your progress.” Wow, already over 400 words. This is longer than many of my other posts!

I encourage you to read the entire article. I’ve only applied a few of the 20 great ideas on how to regain motivation and I’m already done with what I have trouble getting started doing. If you ever have trouble getting motivated, just start.

Tags: Mindset,, Real, Analysis,, motivation,, financial, analysts

Has it ever occurred to you that your life is like an investment portfolio with you as the portfolio manager?

The objective of this life portfolio is to maximize achievement and enjoyment in all areas of your life as you progress through different career and life stages. This means that your investment strategy will need to change as you transition to a new stage in life.

In other words, the equilibrium between your work and your life is continually changing. You need to re-allocate your time and energy to optimize the performance of your life portfolio with each change in your life.

If you are an emerging financial analyst, i.e. at the growth phase, you probably want to overweight your career, giving it extra time and energy so you can establish a solid foundation and build up momentum for advancement opportunities.

If you are an established financial analyst, you probably want to increase the weighting in personal and family time while reducing your time at work.

If one or more areas of your life is not performing well now, it is probably because the allocation of your time and energy is not optimal. It could be a result of concentrated focus in one area of your life to the exclusion of another area. It could be a result of giving equal weighting to all areas of your life at all times. Or it could be a result of continuing to use an old strategy for a new stage of your career and life.

The good news is that no matter how far off you are from the optimal weighting, you can always realign the allocation of your time and energy to bring back optimize performance of your life portfolio.

Take a look at your life portfolio now. Is it helping you maximize achievement and enjoyment in all areas of your life? Is there any part that needs re-weighting?

Tags: Career,, mindset,, investment, portfolio,, portfolio, manager

Some people have a knack for socializing. If you’re not one of them, be assured that it is a skill that can be learned. The most important thing to remember is be authentic. Here are five tips to help you get started.

Deliver a winning first impression without speaking a word. Choose a body language that speaks confidence. Hold your head high. Project a warm smile and always maintain eye contact. To prep yourself for the networking event, imagine the enthusiasm as if you’re meeting an old friend whom you haven’t met in a long time.

Check out the latest news before you leave for the meeting, not only the financial market news but also any big news of the moment. If you know that the person you’re meeting is from out of town, check for news from his hometown. News items can be great ice breakers.

Let the other person take the center stage. Focus your conversation on the other person. Depending on what’s appropriate for your meeting, you can ask about the other person’s work or personal interests. Practice active listening. You’ll captivate the talker by speaking less. Most people love to talk, especially about themselves. They’ll enjoy the conversation so much they won’t notice you have hardly spoken.

Begin your sentences with “You.” “You” is a magical word that hooks attention and flatters egos. Instead of saying “I like your latest report on the housing market,” say “You have some unique ideas on the housing market in your latest report.” Rather than saying, “I like your outfit,” say “You look fantastic in this suit.” You’ll find people want to talk to you more because you’re different from most people – most people prefer to focus on themselves.

If you’re ever lost for words, repeat the last phrase and turn it into a question. There are desperate moments when you might not know much about the subject and simply can’t carry on the conversation. “The recent restructuring at this bulge bracket investment bank will affect over 1,000 employees.” “Over a thousand employees?” The ball is now back in their court. This trick works every time.

Get out there more often. Most people are friendly. As with any other skills, one sure way to improve is to practice, practice and practice. With practice, you’ll become a financial analyst who is masterful at networking.

————
Related articles:

Do You Make These 10 Mistakes In A Conversation?

Conversation Tips

Tags: Communication,, networking,, people, skills,, financial, analyst

I published this post originally on 4 June. I had attached a video showing an office worker turning violent and attacking co-workers under extreme work stress. I received feedback that the source of this video is questionable.

I’d like to ensure that all the information I provide in this blog is accurate to the best of my knowledge. Therefore, I have revised this post with recent statistics on work stress from a survey by the American Psychological Association.

I find these statistics even more startling in that they are compiled from a much bigger sample, and hence more representative of the population. Work stress is indeed a serious issue and the World Health Organization has labeled it a “worldwide epidemic” since 1996.

Here it is. Take 2.

——————————

Being a financial analyst must be one of the most stressful professions. The long hours, the rapid pace and the cyclical nature of the industry are just some causes to name a few. Yet, many financial analysts are not taking active precaution to alleviate the stress.

In my recent post, Stress Level Critical For Financial Professionals, I presented the results of a March survey by hereisthecity.com indicating that over 50% of the respondents were not doing anything or didn’t feel they could do anything about it.

From my experience, I think that many financial analysts either underestimate or don’t understand the potential explosive force when there is no outlet for the intense stress buildup over time. Some common responses I would get when I mention “stress relief” is “I’m too busy”, “I don’t care” or “It won’t happen to me.”

The American Psychological Association conducted a survey on Stress in America following the housing crisis in late 2007. Here are some of its findings:

Stress profile of Americans in 2007
48% of Americans are living with extreme stress
75% cited money and work as the leading causes of stress (from 59% in 2006)
51% cited the housing crisis as a source of stress in 2007
31% have difficulty managing work and family responsibilities
35% cited jobs interfering with their family or personal time
54% attributed stress as a cause of fight with people close to them
25% reported alienation from a friend or family member due to stress
8% connected stress to divorce or separation

Stress Affecting Health
In the month before the survey:
77% reported experiencing stress related physical symptoms
73% reported experiencing stress related psychological symptoms

Physical symptoms of stress experienced by the respondents include:
51% fatigue
44% headache
34% upset stomach
30% muscle tension
23% appetite changes
17% teeth grinding
15% sex drive changes
13% dizziness

Psychological symptoms of stress experienced by the respondents include:
50% irritability or anger
45% nervousness
45% lack of energy
35% feeling like you could cry
48% lying awake at night due to stress

Unhealthy behaviors used to manage stress include:
43% overeat or eat unhealthy foods
36% skipped a meal in the last month

The survey also indicated that while many Americans recognize the negative impacts of stress on their health, only 35% are motivated to make the lifestyle and behavior changes.

Do you share many of these stress symptoms? Stress relief doesn’t have to be complicated or difficult. Here are some simple and effective ways that you can do to relief work stress:

• Exercise: it’s one of the best ways to release cooped up energy and frustration
• Relaxation: adequate rest, warm bath, a walk in the park, listening to soothing music, mindfulness practice
• Fun time: get together with family and friends, take a vacation

Take this Stress Symptom Quiz to find out where you score. The work of financial analysts is stressful and the financial industry has taken a big hit from the housing crisis. The good news is that effective stress relief can be simple and readily available. If you have trouble coping with stress, seek professional help before the buildup reaches a critical level.

——————–

Related articles:

37 Stress Management Tips

10 Ways to De-stress Fast

Stress At Work Is Skyrocketing

——————–

Tags: Stress, relief,, work, stress,, financial, analysts