Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost”.
During the press conference to announce NOKIA being acquired by Microsoft, Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost”. Upon saying that, all his management team, himself included, teared sadly.
Nokia has been a respectable company. They didn’t do anything wrong in their business, however, the world changed too fast. Their opponents were too powerful.
They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big. Not only did they miss the opportunity to earn big money, they lost their chance of survival.
The message of this story is, if you don’t change, you shall be removed from the competition.
It’s not wrong if you don’t want to learn new things. However, if your thoughts and mindset cannot catch up with time, you will be eliminated.
Stay real. Stay open. Learn.
Source: Ziyad Jawabra, Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost.” November 13, 2015. See https://www.linkedin.com/pulse/nokia-ceo-ended-his-speech-saying-we-didnt-do-anything-ziyad-jawabra.
Chapter taken from “Trend Commandments”:
Markets go up, down, and sideways. They trend. They flow. They surprise. Have markets changed? Not only have markets changed, they will continue to change. Check your history books. If you have a valid market philosophy, learning to accept that change and flow with it is your greatest asset. No matter how ridiculous market moves appear at the beginning, and no matter how extended or irrational they seem at the end, following trends is the rational choice in a chaotic, changing world.
That thinking leaves trend followers as generalists when it comes to their trading strategy and that’s not easy to accept for many. The dominant trend within universities is ever-narrower specialization. A higher premium is placed on deep knowledge within a single field (read: fundamental expertise in one market), versus broad wisdom across multiple fronts.
For example, one trend following practitioner started trading trends in 1974—making hundreds of millions in profits and perhaps billions for clients. The major strategic elements of his trend following trading systems have never changed. He was blunt: “The markets are just the markets. I know that is unusual sounding.”
Occasionally, someone trying to promote something or start a debate will argue that trend following has to change due to changing market conditions. Specious. The root of trend following is based on responding to change. It is designed to be adaptable.
Does that mean every systematic trend trader will take the risk of shooting only for huge returns? No. Does that mean every trend trader will capture a trend in the exact same way? No. The trend following way has many practitioners and many recipes. However, just as there are thousands of car models, they are still cars.
Think about my words.
My world is designed to change you. The change I want:
1. Have investors burn buy and hold investing at the stake.
2. Properly classify Warren Buffett as not you. You can’t do what he does.
3. Acknowledge the black swan risks associated with centrally planned ZIRP policy–responsible for the boom/bust cycles.
4. Adopt trend following strategies and philosophies as a solution for profit and outlier (black swan) protection.
That’s why you are here.
Note: If you groove off trusting big brother, the central planners, to take care of you–wrong place–stop reading & listening now.