Forums IMPORTANT: PLEASE READ PhotoReading, Memory Optimizer PhotoReading Group Activity.

Alex
source a link (url) that supplies us with lots of free books.We can kick off immediately.The problem for me is all the books i have, i have already activated them .And Guttenburg has only fiction.

I dont have a library nearby to borrow .

regds

[Update]

Week 1. Day 0

We have started the activity.

1. Stweet (Subject : Law)
2. Guillaume (Subject : Related to Finance)
3. Cooldubai (Subject : Law & Related to Finance)

Replies to..

@ Alex : Yes, Ma'am. Yes, what you are saying makes perfect sense. But when I was coming up with the idea. It was for us (New PhotoReaders) to sharpen the photoreading skills.
The aim in the mind was, to keep certain things fixed, and analyze the variables. Variables being our subjective take on PhotoReading. If we all were to photoread different books, there would be a whole range of variables.

I am aiming for a activity, which aims in supporting our methods. To help observe others' methods, then to analyze with ours, see what works and doesn't work. Upto a level where the person actually is able to photoread, much efficiently.

Again there is a possibility that many out here might be photoreading the same topic, or book. What if they photoread together. Won't it overall save their time. But it is a possibility.

I honestly find your way, better. What if we have an option for this week, those who would like to Photoread in similar subject and others like different subject. Still come here are share their experience.

Apparently I am getting an idea, after your suggestion. I will take a little time to ponder over it.

@ Adharsh

How about Scribd (https://www.scribd.com/)? Have you used it?

They have lots of free books.

Hi all.

I've just returned from my long walk & the library. I had managed to find a book related to what I stated I was going to PR this week. The title of the book is 'Accounts Demystified by Anthony Price'. What was funny when I went to the library section for that particular topic the book itself flashed at me from a far distance so I thought I'LL JUST HIRE IT OUT.

This is going to be interesting because I have never PR'd a book in this area of subject so I'm looking forward to the challenge.

GOOD LUCK everyone with your chosen books.

GUILLAUME.

Cool
i will try the site.cant access from my office though.restricted for some reason?

i will download and let the group know what i am reading.And post my first 20 min activation of a book soon.

regds

Believe me if you select books that interest you and start teaching, explaining the material to others you will be honing your skills.

There is a reason I would like to see you honing your skills on books the same as others to begin with.

First work on your own activation, building your body mind connection simply by spending no more than 30 minutes on a book and reporting on it. That is going to be interesting and challenging enough.

Source books from your local library. Especially beginners. There is something about the physical touch and opening the pages at random that adds to the activation experience. It make it easier to move to electronic books too.

If you have a kindle this is a good source for free ebooks from amazon http://www.dailyfreebooks.com/ sometimes some good titles show up as freebies for the day. You don't need a kindle you can access it with the kindle app in whatever format you use. If you all hang around the non-fiction you'll wind up with some common books anyway.

I believe the site also sources the free books from other sellers.

Alex

Hi all, I had just returned to the UK from spending the weekend in Holland...I was celebrating my friends 60th birthday. Before I went I did manage to finish PRing my chosen book over the 5-day test. Let me give you my results.

Firstly, the chosen book I did last week was titled "Accounts Demystified by Anthony Rice" (2011). My purpose for the book was "I want to understand more about accounts so that I can dramatically increase my financial success."

Secondly, I did the steps for the 5-day test & I managed to note down 16 trigger words & formulate 4 questions. When I went further on I did manage to formulate a further 3 questions. My mind-map wasn't that big but, something did spring at me & it was their website. I realized that I need to look at this first before I do anything else.

Lastly, the next book I'm going to PR is "Gods in Britain by Jill Dudley".

GUILLAUME.

Hi All,

As of now I am activating my study material.

Last Activation:

I was activating a chapter, which I was struggling for a while last week. It was ICAI's Accounting Standard 11 i.e. Accounting Treatment for Foreign Exchange.

Activation sessions took :3

Session 1: 25 Minutes
My purpose had been a to understand what I need to show on the face of the balance sheet, and what are the components of the said standard.

I did a super-reading. Wrote down key terms. Then assembled them to my understanding. Most of them were the components, which were bold texts and other key terms.

Next I came up with my questions and found my answers.

Summary : Accounting Standard 11, needs the treatment of the Foreign currency transactions and operations, to be consistent with the comparability clause. Hence the Foreign transaction and operations are needed to be reported in the domicile currency of the reporting balance sheet country. At the appropriate exchange rates. And the treatment of excess

The Standard bifurcates operations into two parts, and their treatments accordingly. Integral and Non-integral foreign operation.

This is where I stopped the session, and felt like I got the most out of it.

Session 2: 30 Minutes
For this my purpose was, to know about the treatment of foreign operations and foreign forward contracts.

I did a preview, and then re-read what I did previously. Then started forming questions and went on answering these question. Then I created a mind-map. I have a habit of writing summary and drawing a mindmap, and then again writing some points.

During drawing mind-map, I was reading, and then drawing, and I was doing that I got understanding on how the Accounting Standard was structured.

As I ended the session, I had an urge to solve a case problem.

I had few questions, and tried to solve them, I made many mistakes, on certain core issues.

Session 3: 20 Minutes
This last session was done, after a two day gap.

I did a preview, and then I got Ahaa moments. These "ahaa" brought forward all those mistakes I made in solving. I didn't put forward any questions or purpose related to that. I just did a recap of what I studied.

Summary: The exchange rates which are needed to be taken for the reporting, are most vital part of the accounting standard. There are many exchange rates, such has Historical rate, transactional rate, estimation rate and closing rate. If an enterprise has no foreign operation and has only transactions, then transaction rates are used. For Integral Foreign Operation, Monetary items at closing rate, non-monetary at transaction rate or estimation rate. For non-integral, All at closing rate except for income and expenses.
The rest of the different is accumulated to Foreign currency transaction reserve.


So let me know anything that I can improve on. This is the only Accounting Standard which took 1hour plus. Earlier to this I have photoread 10, which took 30-45 minutes. I also have mind map of them, which always helps me to revise them at a glance and sets stages for the next standard.

I like how you followed the urge to solve a case problem. The mistakes would have served well to discovering what you still need to activate in that section. It's your non-conscious mind, pointing out you may have missed something and saying have a look.

Remember to congratulate yourself if that happens because you gave yourself a heads up as to information still missing that your conscious mind hasn't travelled to. It's a sign that the non-conscious mind knows that you wanted to know something but missed it.

Evidence that you probably got something from the PhotoReading step itself.

Alex

Beating the street
Peter Lynch
Purpose: to fine tune the method for picking stocks that was given by lynch in one up wall street. I want to add skills to my present method and hone my skills in picking up right stocks and make my millions
My study of peter lynch book “one up wall street” was helpful for me to activate “beating the street”
I have spent 2 activation sessions on this book so far(40 mins).I have understood the structure of the book. This book builds on Peters earlier book “one up wall street” this is more like a workbook for applying the ideas he has discussed in “one up wall street.”
He discusses a lot on mutual funds and how to select them. I am not interested in mutual funds right now. So my instant focus on was a chapter called”art and science and legwork” Here peter lynch says he discusses around 21 companies he selected and made his millions so my obvious mind probes where,
What is the process suggested by Peter lynch in each of the companies he discusses? what can I learn ?
how can I use it in my stock picking strategies?So peter lynch discusses around 5 to 6 sectors and lets us know when ,why and how he picked up these stocks?Broadly the sectors he has discussed include:Retail,Mortgages,Banks,Trading (oil company) amusement parks and some others.
I am already clear what I want to learn from each of these picks .i am curious to know what I must find out from each of the selection. As i am interested in being a value investor I am going to work on each company and draw a mind map for each of them as to what was peter base toinvest in the company ?what metrics did he follow also Peter says stock picking is both art and acience and legwork so that means its not only financials its also so other key ideas he studies in a business.in each of these companies I am going to understand the “art “ part of his selection.
From Peter Lynch earlier book I had developed a set of metrics to study from a company:
1.Study the earning and categorise the company based on earning growth rate into 6 types .this is the first thing to do.
2.check the earning line against the price line this will help us to decide whether to invest or not.
Then study thepercent sales growth vs inventory,check wheter the company debt structure is good ,check the ccash flow condition of the company.Then study the compnays product in local market.he believes that common people like me can make a killing in the stock compared to a wall street professional if he finds a product matches a certain profile.he lists them out in a chapter.interesting but may not be practical all the time.So I have this backgrowund knowledge when I am activating the book “beating the street’
I am also applying the methods by applying the ideas daily on 5 styocks.I go to money control .com(India).Select sectors to focus on.Then I compare earnings against p/e which is the first parameter to invest.if price is higher than earning growth rate ,peter says stay away from the stock.It may be wise to come back to it later .Also it may still be a good company,I will come back to it later.if I find a good one then check 10 years earning of a company. I then check its inventory growth rate against sales.i understand its cash flow position and understand the loan structure or its debt structure and then study the p/e of the stock for last 10 years.I also compare the sales ,inventory and debt structure of the company vide its competitors and then take a call to invest.
I am also activating the following books:
Buffetology by mary Buffet and David clark
MBA in a box( I have activated 7 chapters in this book,will put a brief write up on the chapters soon)
I finished a book called interpretation of financial statements by Mary buffet and david clark. Its a great books which gives us a set of parameters to compare with a company and its peers to see if the company has a durable competitive advantage.i have blend these ideas with Peter lynch when I study a company.It basically gives us guidance as to what to watch out for in the 3 financial statements of a company the Pand l ,the Blanace Sheet and Cash flow.It also explains how Buffet compares his stock to an equity bond and then explains when Buffet buys and sells a stock.
I am activating a book on welding technology( a big fat text book).i am activating this chapterwise.I will submit a write up on metallurgy soon
SO I have my hands full!!!
All the best ,have fun and thank you LSC and you Alex!!!
I will report on Buffetology also very soon.
.

@ Alex : Thank you, it means a lot this coming from you. Yes, I will congratulate myself on every such step. This is kind of a booster for me.

@ Adarsh : I connected with everything you wrote. I am actually learning this. But not as a part of analysis rather a part of theory. And other theories.

I have activated books in this field, Valuation and Financial decision (financial leveraging). For me it is Financial Management. I will also share my activation sessions of them here. Atleast these seem to be common chapter.

I will activate and share my experience.

Writing here is yet another activation.

@ Guillaume : Waiting for your next summary.

Once again, I thank you all for the initiative.