The Talkative Man

Three Types of Hedonism

Three Types of Hedonism: Psychological, Evaluative, Rationalizing

Hedonism is a broad category of philosophical though that encompasses any system that places “pleasure” as being the intrinsic good, or the only thing that is considered good by itself independent of all other things.

Hedonism is the philosophical principle that places pleasure and gratification as the intrinsic good. In other words, pleasure and gratification are the only things that can be deemed good by themselves independent of all other things.

There are three distinct types of hedonism differentiated by proponents of the doctrine that enjoyment is the good:

Psychological Hedonism: Pleasure is the solitary possible purpose of desire or pursuit. This may be held on observational bases, or be thought to be dictated by the significance of ‘desire.’
Evaluative Hedonism: Pleasure is what we are supposed to desire and pursue.
Rationalizing Hedonism: Pleasure is the only object that makes a pursuit sensible.

References

“Pleasure and the Good Life: Concerning the Nature, Varieties, and Plausibility of Hedonism” by Fred Feldman
“Sex, Drugs & Rock n Roll: The Science of Hedonism and the Hedonism of Science” by Zoe Cormier

Nine Elements of Organizational Performance

Motivation: Inspiring and encouraging employees to perform and stay
Coordination and Control: Measuring and evaluating business performance and risk
Innovation: Generating a flow of ideas so that the organization is able to adapt
Leadership Team: Ensuring leaders shape and inspire the actions of others to drive better performance
Direction: Articulating where the organization is heading and how to get there, and aligning people
External Orientation: Engaging in constant two-way interactions with customers, suppliers, or other partners
Work Environment and Values: Shaping employee interactions and fostering a shared understanding of values
Capabilities: Ensuring internal skills and talent to support strategy and create competitive advantage
Accountability: Designing structures/reporting relationships and evaluating individual performance to ensure accountability and responsibility for business results

Charlie Munger on Three Considerations that Average Investors can Use for Better Returns

Charlie Munger, Berkshire Hathaway's Vice-Chairman and partner of Warren Buffett

In a lunch that investor Mohnish Pabrai of Pabrai Funds had with Charlie Munger, Berkshire Hathaway’s Vice-Chairman and partner of Warren Buffett, Charlie explained that an investment operation that focuses on three attributes would do exceedingly well.

Carefully look at what the other great investors have done. Charlie endorses mirroring the investments of the most successful investors by learning from the 13Fs they might file. Look at what other great minds are doing.
Look at the cannibals. Look thoroughly at the businesses that are buying back huge amounts of their stock. These businesses are eating themselves away, so Charlie describes them as the cannibals.
Carefully study spinoffs. Joel Greenblatt of Gotham Capital has a whole book on spinoffs: “You Can Be a Stock Market Genius Too.” Overall the book discusses investment opportunities presented by circumstances that are usually not considered by the average investor: spin-offs, mergers, risk arbitrage, restructurings, rights offerings, bankruptcies, liquidations, and asset sales.

Charlie Munger believes that if an investor did just three things, the end results would be vastly better than the returns of an average investor.

Read this Motley Fool article on more of what Mohnish Pabrai learned from Warren Buffett and Charlie Munger.

VIETNAM: The Best Sights, Destinations, and Experiences (ASEAN Travel)

Flating Markets in Vietnam

Gorgeous beaches, buzzing, neon-lit cities, great food, idyllic countryside … there is little that this country does not have to offer. You may find yourself most comfortable on Hanoi’s slim by-lanes, or prefer the vast, open spaces of Holong Bay, but one thing’s for sure – Vietnam definitely punches above its weight.

Vietnam: At a Glance

Capital: Hanoi
Currency: VND/Dong (20,000 Vietnamese Dongs is about USD 1)
Population: 90.39 Million
Language: Vietnamese
National Flower: Lotus
GDP (PPP) Per Capita: USD 3,548
Official Tourism Website: http://www.vietnamtourism.com/
Wikitravel Travel Guide: http://wikitravel.org/en/Vietnam

Experience the Best Attractions of Vietnam

Time Travel: A trip to Hoi An’s Ancient Town is a trip into another era—one of a cosmopolitan trading port with Chinese, Vietnamese and Japanese influences. The narrow, sun-washed lanes are a joy to explore, with ancestral homes, assembly halls, and pagodas to stop in at for a break.
Easy Riders: Go back to a simpler time with a visit to Mai Chau. This verdant valley is a world away from the buzz of Vietnam’s cities, and is surrounded by rolling hills carpeted by lush rice-paddy fields. Mai Chau is also home to some hill tribes, and you could learn more about their culture by spending a night or two in their homes.
Market Days: Get a taste of modern-day Vietnamese life with a cruise down the River Mekong to the Cal Be floating market. This colorful market is where many locals trade in fresh fruits and vegetables.
A Flash of Color: Once the home of Vietnamese prisoners, the pristine beauty of the Con Dan Islands will be quick to charm you. This chain of 15 islands is a lovely mix of great beaches, colorful reefs, stunning bays, and thick forest cover.
Tunnel Vision: No matter how much you may have read about it, nothing prepares you for the maze of tunnels that run under Cu Chi, near Ho Chi Minh City. These tunnels were used by the Vietnamese as a way to evade the American forces, and provide an insight to life through the Vietnamese War.
Hue Calling: Once the capital of the Nguyen Empire, Hue is worth spending a few days in. Bisected by the Perfume River, so called because in autumn, flowers from upstream scent its waters, this city has a wealth of architectural marvels to be discovered.
Lessons Learned: For an introduction to Vietnam’s history, a visit to the Reunification Palace and the War Remnants Museum in Ho Chi Minh City is necessary. The Reunification Palace has been maintained as it was at the time of the Fall of Saigon. The War Remnants Museum, divided into three levels, explains the Vietnam War through photographs and accounts from survivors, and makes for a poignant experience.
Water Ways: While you are in Hanoi, go for a water puppet performance. This enthralling show depicts Vietnamese life, and is great if you are travelling with kids. Modern Vietnam continues the theater tradition that started with farmers and the rural community using puppets that they held up as they stood up to their waists in the water of the rice paddies.
Meat Feast: Bun bo Hue is a central Vietnamese take on noodle soup. A rich, luscious broth filled with beef, pork, and thick rice noodles, this makes for a fuller meal than noodle meals in the north and south of the country.
Dune Deal: Look out across the desert-like horizon and you will wonder if you are in the Sahara. The sand dunes of Mui Ne seem as though they would be more at home there than in south-east Vietnam. Grab a board and surf the sandy waves, then stop and admire the lovely lotus lakes hidden within them.

MALAYSIA: The Best Sights, Destinations, and Experiences (ASEAN Travel)

Malaysia is a popular honeymoon and holiday destination

A melting pot of thriving culture, gorgeous landscapes, filled with everything from islands to beaches to major metropolises, Malaysia is the throbbing force in the heart of South East Asia. A popular honeymoon and holiday destination, there’s lots to do and discover here, for both the laid-back traveler and the adventurous explorer

Malaysia: At a Glance

Capital: Kuala Lumpur
Currency: MYR/Ringgit (10 Malaysian Ringgits is about USD 3)
Population: 29.46 Million
Language: Malay
National Flower: Bunga raya (Hibiscus)
GDP (PPP) Per Capita: USD 16,922
Official Tourism Website: http://www.tourism.gov.my/
Wikitravel Travel Guide: http://wikitravel.org/en/Malaysia

Experience the Best Attractions of Malaysia

Luxury in Langkawi: If you are looking for a lazy, luxuriant vacation with lots of sun, sea and sand, head to Langkawi for a holiday amid beautiful surroundings, lush rainforests, mysterious mangroves and an abundance of wildlife and marine creatures in this archipelago of 99 islands, which is also a designated UNESCO GeoPark.
Hippie Hideaway: Lying off the northeast coast of peninsular Malaysia, Perhentian is a veritable haunt for backpackers and wandering artists. The waters here are clear, so much so that you can snorkel straight off the beach and still see a wide array of marine creatures. If you are feeling a little more active, you can hire a boat and spend a day swimming with sharks and turtles, then hit the beach bars in the evening.
Picture-perfect Tioman: Used as a backdrop in the musical South Pacific, Tioman is known as one of the exquisite islands in the world on account of its tear-topography, rich marine if and blue waters. Its natural beauty, countless kinds of and sea creatures are only a few of Tioman’s many charms.
Place to Indulge: A little indulgence is in order on every holiday and you cannot get better than Pangkor for just that. The Pangkor Laut Resort is set amid a rainforest and you will be surrounded by lapping water, white sand, and stunning Emerald Bay during all your pampering.
Underwater Art: Rising 600 meters from the seabed and formed by living corals growing on an extinct volcano over thousands of years, Sipadan hosts all manner of beautiful marine life. Home to 3,000 species of fish, including sharks, rays and parrotfish, the pearl of this region is the famous Turtle Tomb, located in an underwater labyrinth.
Food & Fusion in Penang: A unique mixture of east and west and deliciously flavorful cuisine makes Penang a great spot for visitors. It is known for sandy beaches, monuments, historical and cultural discoveries, and oodles of old-world charm.
White Sands: Forming a marine park of nine islands off the eastern peninsular Malaysian state of Terengganu, the Redang archipelago is the perfect summer destination, with pristine beaches and inviting waters. For a change from the perfectly preserved coral and smooth sands, Redang has plenty of interesting wildlife, including deer and monitor lizards.
Island Getaway: If you are looking for a few days away from the cities, Sibu Island beckons. An idyllic holidaymakers’ paradise, Sibu offers quiet beaches, resorts, and lessons in diving and snorkeling for the amateur water-baby.
No Kidding About: Give your little ones (and yourself) a special treat and pencil in some time for the very cool Legoland that is opened in Johor. Your day will go by before you know it! The resort opened on 15-Sep-2012 with over 40 interactive rides, shows and attractions.
Going Sour: A sour fish soup, asam laksa is one of Malaysia’s favorite dishes. Asam (or asam jawa) is the Malay word for tamarind. The main ingredients are shredded fish, cucumber, onions, red chilies, pineapple, lettuce, and pink bunga kantan (torch ginger). Asam laksa is normally served with rice noodles or vermicelli, and topped with a sweet shrimp paste.

Consequences of Organizational Commitment Level for Individual Employees and an Organization

Consequences of Organizational Commitment Level

Like various social groups at different times throughout history, organizations and corporations developed distinctive cultures.

Organizational culture is the entirety of socially transmitted behavior patterns that are typical of a particular organization or a company. Organizational culture encompasses the structure of the organization and the roles within it, the leadership style, the prevailing values, norms, sanctions, and support mechanisms, and the past traditions and folklore, methods of enculturation, and characteristic ways of interacting with people and institutions outside of the culture (such as customers, suppliers, the competition, government agencies, and the general public).

Consequences of Organizational Commitment Level for Individual Employees

Low Organizational Commitment: Potentially positive consequences for opportunity for expression of originality and innovation, but an overall negative effect on career advancement opportunities
Moderate Organizational Commitment: Enhanced feeling of belongingness and security, along with doubts about the opportunity for advancement
High Organizational Commitment: Greater opportunity for advancement and compensation for efforts, along with less opportunity for personal growth and potential for stress in family relationships

Consequences of Organizational Commitment Level for the Organization

Low Organizational Commitment: Absenteeism, tardiness, workforce turnover, and poor quality of work
Moderate Organizational Commitment: As compared with low commitment, less absenteeism, tardiness, turnover, and better quality of work, as well as increased level of job satisfaction
High Organizational Commitment: Potential for high productivity, but sometimes accompanied by lack of critical/ethical review of employee behavior and by reduced organizational flexibility

Companies need to engage their employees to capitalize on emotional energy and consistently achieve higher levels of performance than their competition. It’s critical for leaders to do their best to gain effective commitment, and reduce their teams’ reliance on continuance and normative commitment, so that they lead teams of employees who feel passionate for their roles in the organization.

The Guru-Shishya Parampara: Oral Tradition of Education in India

Verse 5 of the Advayataraka Upanishad states,

The syllable gu means shadows (darkness)
The syllable ru, he who disperses them.
Because of his power to disperse darkness
the guru is thus named.

Essentially, a guru is someone who leads the student from the darkness of ignorance into the light of knowledge. Although this characterization is an interpretative definition rather than an etymological definition, it suggests the figurative the emblematic power of the guru—the honored preceptor at the heart of traditional learning in the Indian culture.

The vast body of knowledge in ancient India was oral in nature. The Vedas, the Upanishads, and the other religious texts were imparted for many generations by word of mouth; only later were these ancient texts committed to the written word.

The oral tradition in India necessitated a living representative—the guru—who both personified and transferred the time-honored knowledge. Since the Vedic times, it was typical for a father to impart his scholarship to his son, thus propagating the age-old knowledge via parampara, signifying lineage, progeny, uninterrupted row or series, succession or tradition.

The principal elements of the oral tradition in India are:

the guru (the teacher)
the shishya (the student)
the parampara, the conduit of knowledge in which the guru and the shishya discrete participants in a tradition which extends across generations.

Oral traditions for imparting knowledge are still in vogue in India today. Unsurprisingly, particular sciences and arts lend themselves such diffusion through direct contact between the teacher and taught. Ayurveda, the ancient system of medicine, is still taught through traditional teaching methods. Ancient Indian legends, fables, and myths come vividly to life grandchildren hear their grandparents recount them. By the same token, drama, theater, dance, and classical music depend on the ability of the masters to nurture these arts in the subsequent generations.

BRUNEI: The Best Sights, Destinations, and Experiences (ASEAN Travel)

Best Sights of Brunei

Rich in oil, yet oozing with unspoilt charm, Brunei is too often dismissed by travelers. Nestled between the Malaysian states of Sarawak and Sabah, Brunei is almost entirely covered by pristine tropical rainforest with vibrant cultural landscapes that’s just waiting to be explored

Brunei: At a Glance

Capital: Bandar Seri Begawan
Currency: BND/Brunei Dollar (1 Brunei Dollar is about USD 0.80)
Population: 0.40 Million
Language: Malay
National Flower: Simpor
GDP (PPP) Per Capita: USD 54,389
Official Tourism Website: http://www.bruneitourism.travel/
Wikitravel Travel Guide: http://wikitravel.org/en/Brunei

Experience the Best Attractions of Brunei

Heavenly Beauty: With a dome made of pure gold, imported marble from Italy and a man-made lagoon, the Sultan Omar All Saifuddien Mosque is the pride of Bandar Seri Begawan. The mosque is visible from anywhere in the city, and the view from the top of the main minaret is enough to make you believe in heaven. At night, the mosque is lit up, literally illuminating its splendor!
Dive Right In: Some of the best diving sites in the world are located off the coast of Brunei. The good news is, most of them have not been discovered yet. As an explorer, you therefore gain access to serene, clear waters, unspoilt reefs, and marine life and discover a few shipwrecks all on your own before the crowd gets wind of them.
Midnight Feast: You are on holiday; you should be able to eat anytime you feel like it. Indulge those annoying nighttime hunger pangs at the Pasar Gadong night market. Choose from a tempting array of kebabs, seafood, and noodles, or taste a bit of all if you cannot make a choice. The food here is delicious and very affordable, and it will be hard to tear yourself away from all those tasty treats.
Eat What?: Ambuyat, Brunei’s national dish, may raise a few eyebrows, but its fun to eat and even more fun to share. The dish is starchy and rather glue-like and is made from the sago palm, but its flavor comes from the cacah, or the variety of dips used to eat it with.
Get Bucolic: Go back in time and discover the roots of Brunei, its time-honored traditions and rituals showcased through a homestay in a Bruneian village. The residents of Kampong Sungai Matan will be delighted to have you as a guest and will gladly share their way of life with you, demonstrating cooking methods, local customs, and arts and crafts and how to fish like a true Brunei native.
Early Bird: Get yourself out of bed early for a sunrise safari through the Ulu Temborong National Park. This is a lush spot with more than a few mischievous monkeys you will need to watch out for. The view from the top of the 60 feet canopy, and the active local wildlife are worth waking up for.
Life on the Water at Kampong Ayer: The pulse of Brunei’s capital, Bandar Seri Begawan, Kampong Ayer is the world’s largest water village, having been inhabited for an impressive 1,000 years. Get yourself a water taxi and go meet the locals in their stilt houses, set amid an array of wooden boardwalks and bridges.
Wealth of Art: The Royal Regalia Museum gives you a glimpse of what life in the lap of luxury looks like. You will see treasures and ceremonial costumes from the Sultan’s own collection.
Meet the Royals: The end of Ramadan heralds the festival of Hari Raya, Brunei’s biggest celebration of the year. During this time, the Sultan and his family throw open the doors of their palace and greet people in person. While you are getting friendly with the royals, you can also take a long look at Istana Nurul Iman, the largest residential palace in the world.
Live among the Stars: The Empire Hotel and Country Hotel will astound you with its opulence. With a shopping arcade, a cinema, a private beach, and a golf course, among others, on the grounds, it is worth a visit even if you are not staying here. Fun fact: The Emperor Suite here has hosted both Prince Charles and Bill Clinton, and has carpets flecked with real gold!

Warren Buffett, the Mattress Salesman at Nebraska Furniture Mart

One of the traditions at the Berkshire Hathaway annual meetings is an hour-long light-hearted movie show. In fact, the “movie” is a collection of video clips some of which showcase commerials and skits from Berkshire Hathaway’s vast array of businesses, some featuring Buffett-comedy, surprise celebrity features, and so on, often to wild laughter among the crowd.

In 2013, the Berkshire Hathaway video started with a cartoon version of Dancing with the Stars with Warren Buffett and partner Charlie Munger as judges. After the judges dismissed every contestant, including Dairy Queen and the Geico Gecko, the judges themselves won the contest by dancing to the Gangnam Style. The 2013 movie also had clips of Warren Buffett and Fortune Magazine’s Carol Loomis appearing on the Daily Show with Jon Stewart to promote “Tap Dancing to Work: Warren Buffett on Practically Everything”. A humorous debate over “ketchup” vs. “catsup” from the sitcom King of Queens highlighted Berkshire Hathaway’s buyout of H.J. Heinz Company (in partnership with Brazil’s 3G Capital.)

In recent years, the “movie” has also featured Warren Buffett’s opening statement to a Committee of the U.S. House of Representatives on the Salomon Saga. “Lose money for the firm, and I will be understanding; lose a shred of reputation for the firm, and I will be ruthless,” warns Mr. Buffett at the end of that opening statement.

The security staff at the Berkshire Hathaway meetings forbid attendees from recording audio or video from the opening movie due to confidentiality and copyright restrictions. At the beginning of the movie, a voice-over or video recording from Warren Buffett assures appearances from “a number of people you recognize” and reminds that the celebrities work for free, at the request of the notoriously stingy Buffett. “Surprise, surprise.”

Over the years, the most popular clips in the movie feature a hilarious Warren Buffett attempting at diverse jobs in Berkshire’s businesses. Here’s one from Berkshire’s furniture business, Nebraska Furniture Mart.

The Warren and Charlie Show at Berkshire Hathaway’s Annual Meetings

Berkshire Hathaway Annual Meetings

At the Berkshire Hathaway annual shareholders meetings in Omaha, Warren Buffet and Charlie Munger sit at the center of the stage in front of a dark sea of shareholders. Warren Buffet first fields questions from the audience and a panel of journalists and stock analysts. Warren answers them and will ramble on a bit in his unique way (often with a one-liner or two mixed in) for a few minutes.

Then, Warren will look over to his partner and query, “Charlie?” Then Charlie Munger will either lean in and make a sharp, critical, pithy, often derisive comment (which usually extracts gasps or loud chuckles from the audience) or simply remark, “I have nothing to say,” which can be entertaining particularly after a long-winded digression from Warren Buffett.

Berkshire Hathaway annual shareholders meetings are normally held on the first Saturday of May in Omaha, Nebraska.

Berkshire Hathaway Annual Meetings

References

Vietnam: At a Glance

Experience the Best Attractions of Vietnam

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Malaysia: At a Glance

Experience the Best Attractions of Malaysia

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Consequences of Organizational Commitment Level for Individual Employees

Consequences of Organizational Commitment Level for the Organization

Brunei: At a Glance

Experience the Best Attractions of Brunei

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