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jerryking : pitfalls   6

Keeping Cori Gauff Healthy and Sane
July 2, 2019 | The New York Times | By Christopher Clarey.

Cori Gauff studies the map of her predecessors' pitfalls

Tennis has its latest prodigy in Cori Gauff, the 15-year-old American who upset Venus Williams, once a wonder child herself, in the first round of Wimbledon of Monday......The list [of child prodigies] is extensive, punctuated with cautionary tales. As tennis has become a more physically demanding sport, these breakout moments have been trending later.......Corey Gauff, the player’s father, longtime coach and the inspiration for his daughter’s name, has attempted to do what he can to help her chances of long-term success. One of his self-appointed tasks: studying tennis prodigies extensively......“I went through everybody I thought was relevant, that won Grand Slams and were good young,” ....“I went through every one of their situations and looked at where they were at a certain age, what they were doing. I asked a lot of questions, because I was concerned about burnout. Am I doing the right things?”....“I studied and studied to prepare myself to make sure if she was able to meet these goals that we’d be able to help the right way,” he said. “That was important. I still sit there and benchmark: ‘O.K., we’re at this point now. How is she doing physically? Is she growing? This is what Capriati did at this stage. This is what Hingis did at this stage, what the Williams sisters did at this stage.’”....Great stories, which prodigies continue to be, attract not just attention but money from sponsors. Parents and advisers can get more invested in success — and continued success — than the young player, and the result can be traumatic......Some precocious talents have experienced physical abuse,.....There is also the physical and mental toll of competing against older, potentially stronger opposition......“The main thing I looked at was how do you prevent injury,”.........The family has sought frequent outside counsel: “It’s honestly been a village of coaches,” he said.

Cori Gauff chose to sign with Team8, the agency started by Roger Federer and his longtime agent Tony Godsick, in part because the Gauffs believed a long-term approach had worked well for Federer, who turned pro at 17 and is still winning titles at 37.
African-Americans  athletes_&_athletics  benchmarking  cautionary_tales  dark_side  due_diligence  injury_prevention  long-term  outside_counsel  parenting  pitfalls  precociousness  prodigies  sports  systematic_approaches  teenagers  tennis  women 
july 2019 by jerryking
How to Buy Art: A Beginner’s Cheat Sheet - NYTimes.com
MAY 7, 2015 | NYT| By WILLIAM GRIMES and ROBIN POGREBIN.

EDUCATE YOUR EYE Go see as much as you can — at galleries, museums and art fairs and by trolling online. The more art you see, the more you will develop clear judgment. Knowledge can help put things in context, but expertise isn’t a prerequisite. Marc Glimcher, president of Pace Gallery, says: “Go to a museum first and see what speaks to you. Identify which thread of art history is meaningful to you before heading to the galleries or the auction.”

Photo

THE LONG VIEW Budding collectors shouldn’t just buy what initially captivates them. “Ask yourself how something might look when you know more, how something might look over time,” said Amy Cappellazzo, co-founder of Art Agency, Partners, an art advisory firm. “The best thing to do is put yourself in a position where the first purchase actually challenges you a little — you’re not sure you like something, but you can’t stop looking at it. Imagine your smarter self looking at it in five years.”
auctions  art  artwork  art_galleries  museums  howto  self-education  judgment  Colleges_&_Universities  art_schools  students  contextual  long-term  collectors  collectibles  investing  investment_advice  pitfalls  mistakes 
may 2015 by jerryking
Three Mistakes Novice Art Investors Fall Prey To - WSJ.com
February 25, 2013 | WSJ | By DANIEL GRANT.

(1) Buying what's in vogue.
(2) Shooting for the quick profit.
(3) Going it alone.

As art investing has gotten more popular, advisers have sprung up to offer guidance to would-be collectors, weighing the relative quality and importance of an artwork, researching provenance and sales history, and appraising current value.

Advisers, for instance, can help steer you away from second-rate pieces.
collectibles  collectors  art  art_advisory  investing  investment_advice  pitfalls  mistakes  artwork  provenance  second-rate  art_appraisals 
february 2013 by jerryking
10 Ways to Stumble in Commercial Real Estate -
November 12, 2006 | New York Times |By VIVIAN MARINO

(1) NO FINANCIAL PLAN
“The first step for investing in anything — whether it’s real estate or diamonds — is to have a plan, and your plan is based on your goals,”..... are you looking for a property that can be leased out, generating a monthly cash flow? Or, do you want to make a quick profit with a property that can appreciate in value after improvements?

You will also need to focus on a specific property type, based on personal interest and expertise. Mr. Cummings suggests taking on partners with “personal knowledge or specific talent dealing with this category of property.” He also recommends having an exit strategy,
(2) THINKING LOCATION ONLY
“It’s not location, location, location — it’s location, use and approval,” ......While finding a good location in a well-traveled corridor is important, he explained, you must also ensure that the proposed use for a property fits within zoning and deed restrictions as well as other local laws. That’s a crucial part of due diligence.

(3) NOT RESEARCHING A CITY
Even with zoning laws on your side, you may still be unable to move ahead with plans. “Some communities are getting impossible to develop,”.....Although a site may be properly zoned for such buildings, local planning boards might object that a design and scope of a project are incompatible with the area.

(4) SEEING ALL AREAS AS SIMILAR
“Real estate is a local singular market,” ......“What goes on in San Francisco may appear to be the same as what is going on in Chicago or Miami, but in reality it is not.” You need to explore an area’s demographics — learning, for instance, the average age of the residents and potential customers, as well as household income. And while you’re at it, check on the prevailing rents, along with vacancy rates and property taxes. Some of this information can be found by contacting the local government or Chamber of Commerce, and by talking with neighboring business owners.

(5) NO THOUGHT TO TENANT MIX
you can’t expect to draw much business unless you have the right mix of tenants, both within your property and in the neighborhood. An “anchor,” or a business with a history of successful performance, can help.

(6) MISCALCULATING COSTS
uncover hidden problems in a building — structural, mechanical or environmental. The seller can then decide to fix the problems or renegotiate the sales price........set aside a cushion for future repairs or improvements. (Even tenants with so-called triple-net leases, in which they agree to pay all the continuing operating expenses like property taxes, may need to have a property reconfigured to meet their needs.)

“Many people do not take the time necessary to quantify deferred maintenance — from an antiquated heating system to a leaking roof to holes in the parking lot,”

(7) MISCALCULATING RETURNS
To get an idea of your initial rate of return, or capitalization rate, review expenses and income for the most recent year.

Some brokers and investors base their calculations on occupancy rates at or close to 100 percent. But take into account the likelihood of vacancies,

(8) TAKING ON ONEROUS DEBT
commercial-property land, can come with very onerous terms!!

(9) DOING IT ALL YOURSELF
experienced investors typically have a group of experts in place, including brokers, engineers, lawyers, accountants and property managers, to help with conducting due diligence.

(10) PROCRASTINATION
What good is doing the research if you never put it to use?
anchor_tenants  commercial_real_estate  debt  demographics  exits  financial_planning  hidden  investors  IRR  land_uses  miscalculations  missteps  pitfalls  procrastination  real_estate  rules_of_the_game  zoning 
september 2012 by jerryking
Managing: What entrepreneurs should watch out for
July 16, 1996 | The Globe and Mail |

fourth pitfall is the most difficult, Mr. Drucker says. “It's when the business is a success and the entrepreneur begins to put himself before the business. Now he asks himself, ‘What do I want to do? What's my role?’ "Those are the wrong questions. If you start out with them, you invariably end up killing yourself and the business. You should be asking, ‘What does the business need at this stage?’ The next question is: ‘Do I have those qualities?’
Peter_Drucker  entrepreneur  challenges  selfishness  pitfalls  cash  self-analysis  self-assessment  life_cycle 
july 2012 by jerryking

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