From Dan Peña – Executive Coach and Mentor for The New Millennium
Dear Friend and Subscriber:
Again, happy New Year!
I’ve received a number of requests in recent days vis-a-vis what I thought of the coming year. Interest rates? The stock market? Recession? The economy? For those of you who read the Economist, you know all these types of things refer to the same thing, more or less. These questions were only exacerbated by Chairman (Federal Reserve) Greenspan’s recent 1/2% cut in interest rates in the U.S.
The markets in general took a real battering (as they say here in the UK) in 2000. Some markets dropped more than 50%. The dot.coms turned from explosive euphoria to calamity and are now dot.deaths!
Last January I told those who would listen I used an old Wall Street adage about the market which I learned in the early ’70’s. What the market does in January, the rest of the year will follow.
Though I’m not conversant with those numbers anymore, in the last few years, it used to be over 90% of the time the markets followed the trends set in January. Last January 2000 was down and the market followed. This trend goes back to the 1800’s in the US, and I would suspect it follows in other markets, since virtually all markets followed the US in the 1900’s.
Based on last January, I stated on more than one occasion, 2000 was likely to be a bad year. Unfortunately for me, I had already started on a dot.com in September 1999. As you all know, the market imploded in the high tech sector in March/April 2000 and took much of the market with it.
So wait and see what happens this month. Deals will be done no matter what happens, but your individual portfolios are always subject to the vagaries of the market. Of course, many of you know this first-hand vis-a-vis your own portfolio.
Again, I’m not a money/fund manager, but it’s easier to create your own destiny than be subject to the market described above! Therefore, I’ve been out of the buying share market since I became the CEO of a public company in August 1984. Of course, all markets go in and out of favor. The only difference is the length of their cycles.
As the year progresses, I will comment on subjects germane to the various markets. I say, tongue in cheek, falling interest rates are almost always good for markets for obvious reasons, and rising interest rates are BAD! Good fortune with your investments! And for those who are conversant with QLA Methodology, your biggest investment should be in yourself and your dream!
To Your Quantum Leap
P.S. Below is an email I received from a subscriber who heard me speak in October 1999 and purchased (apparently) my first book which has now been superceded by "Your First 100 Million." His method to use my coaching and QLA Methodology is the "long distance" method most use, sans the photos perhaps.
P.P.S. Again as promised, as part of the new QLA Millennium Internet Format, a ‘Free Consultation Program’ was initiated — 01/01/01. Once a quarter, the subscriber who introduces the most new subscribers to the newsletter, will receive one hour’s FREE consultation. The new subscriber must mention your name. This one hour consultation [worth $3,000.00], can be used in parts, or all at once over a given year. Alternatively, it can be used to reduce the cost of any QLA seminar.
Monthly winners of the introduction program will receive my best-selling book "Your First 100 Million" FREE –a $400.00 value.
Yearly winners will receive a FREE three-day "Executive Castle Seminar" at Guthrie Castle — a $9,000.00 value.
In addition, for every "Your First 100 Million" purchased via my website, a 10% discount on the "Executive Castle Seminar" will be given.
All the above incentives are exclusively for the benefit of QLA Internet Newsletter subscribers ONLY. Specifics on the new QLA Millennium Internet Newsletter program will be posted on my website SOON, but the race began 01/01/01. Questions can be forwarded to: email@example.com
last year in October, when you told us "we were poor!" I will never forget this phrase!).
I have a big picture of you, on my desk, just in front of me (the picture on page 255 of your "Building Your Own Guthrie", "Dan giving one of his Quantum
And I have put giant affirmations near this picture, such as: "dedicate yourself," "stay laser-beam focused," "you can do it," "pay the price of your goals," "plan, implement and execute."
With this strategy, I can assure you it’s difficult to forget you, your commitment and your strength! – And it works!