Application of Logic to Improve Your Life

In our post on how to obtain consistent happiness we tried to touch on “how to think”. This is a broad topic and we only hit on a few items in the previous iteration. Given our interest in expanding our posts we’re going to try and give our *ideas* on how to improve your thinking process. Namely, through the application of logic.

Overview:

1) Before Doing Something Ask “Does This Make Sense?”

2) Quick Numbers For Business Calculations

3) Quick Numbers for Personal Finance Calculations

4) Logic Says Success is Relative

5) Application of Logic to Recognize *Our* Weaknesses

1) Before Doing Something Ask “Does This Make Sense?”

This will save you a lot of headache. A lot. Before you begin steering your ship in a new direction, ask yourself if the direction “makes sense”. Given our strong stance against the “manosphere” and against the “red pill” community we can use everything in the “sphere” to see how the vast majority of writers are losers.

Become a “Location Independent Businessman”! If your goal is to actually start a business, the worst possible move you can make is this: “pack your bags, move to a third world country, teach English and start a company”. This is the fastest way to realize that you’re talking to someone who doesn’t make a lot of money. The person did not have the necessary skills to earn a high income. How are we so “sure”. Easy… Does this make sense?

If you are legitimately capable of becoming an entrepreneur then you are going to have *options*. This means that you likely have *career* offers from top tier institutions and firms. So, run the math. If you can obtain an engineering slot at a top tier silicon valley firm you’re going to make $125-250K a year *out the gate*. If you were a top tier finance student and got an offer to work in investment banking, you’re going to make ~$150K *out the gate*.

No sane person is going to say “let me start a blog in a third world country with no experience and live off of $50K a year instead”. Again. It does not make sense.

Nail in coffin. If you’re truly brilliant and can start your own company without being trained at a top firm … You’re still *not* going to leave the USA. You’re going to do what all of the other big guys did. You start it in the States because that is where the network is. Facebook, Twitter, SnapChat, Uber, etc. etc. etc. are not in Cambodia for a reason. It is not because the founders are dumb.

In short: If you are talented and have options, there are too many opportunities in the states to cause a young 20 year old to pack his bags and leave for no good reason.

Girls Are Sluts but it is Hard to Get Laid: This is probably the funniest piece of the entire Complain-o-sphere. The claim is that women are not relationship material because they are sluts… Then… Claim that women are too hard to sleep with. Huh? This does not make any sense. How can you take advice from someone who has this type of logic?

Never in the history of mankind has “average” guy been able to obtain a “model” because he was simply a good man. This time never existed and never will.

It is either hard to get laid or it is not. Both cannot co-exist. We do not care which group you are in. If you’re having trouble, improve yourself and find more girls to talk to. If you’re doing well with women, the last thing you do is complain about them. If you’re not attracted to the girl or her personality turns you off, then move on. It is not a big deal.

In short: Which group are you in. We don’t care which one it is. Just don’t claim to be part of both of them.

Women Abroad are Soooo Different! No. No they are not. We’ve been to over 35 countries now and while there are always nuances with each group of women… There is no real “difference”. The only real difference is (gasp) your *relative value*.

Here is the basic learning curve. 1) Arrive, 2) realize you’re getting higher quality women, 3) calculate how much more money you make relative to the median, 4) *decrease or increase* your spending to your relative purchasing power in the states, 5) figure out it is roughly the same!!!

Most people don’t make the logical jump to points 4 and 5. They walk in with $2,500 a month and say “wow I am getting girls here that I couldn’t get back home with a $5,000 a month lifestyle!”.

Then reality hits.

You’re a bright guy so you find the median income. The median income is roughly $725/month in the city you’re in while the median income is $3,500/month in the city you live in. Your relative purchasing power is 4x in the foreign country and only 1.43x in your current city! Surprise, surprise! Your lifestyle was significantly better on a relative basis so you did better.

If you really want to prove this out, you can test run the thesis. You simply decrease your spending all the way down to the median. If you live in Manhattan try to live a fun and exciting lifestyle with your $70K gross salary (~$4,300 net) per month. Hint. It won’t be great. Then go to your third world country and spend the median income within that city… Hint. It won’t be great.

In Short: While there are always nuances based on personalities, the same thesis applies in foreign countries as they do in the states. The girls you attract will always be a reflection of your total value. This makes sense.

2) Quick Numbers For Business Calculations

With the high level examples out of the way lets move onto some quick math. This is apparently a lost art as some people really believe “big bloggers” make $500K a year… Again. No. They do not.

5% Convert: On launch day your conversion rate for any product, this is an eBook, real product from a real business or otherwise, is going to be significantly higher than any other day. Of course, holiday season and special days will also sell well, launch day is the real big one and should be ignored. Going forward run the 5% rule (yes we realize it will range between 3-7% we’re using 5 because this is quick math).

Take the total number of *recurring users* this means actual people. This does not mean page views, this does not mean sessions etc etc. Only people matter. Now here is the equation:

(Recurring Users) * (5%) * (Total dollar value of all products) = Income.

Roughly speaking, if you have 40,000 legitimate customers, 5% convert at $100 you’re looking at $200K.

Here’s the rub! This is likely an inflated number. Now that you have the rough number, work backward and it’s probably 75% of this as pure profit (taxes other expense etc.). So you’re looking at a rough number of $150K. Bracket this with 10% and you have a good idea of the actual income $135-165K.

Now that you have the rough math you can quickly figure out if someone is telling the truth or not regardless of claims.

In short: Learn basic internet math if you’re going to buy products off the internet. We do not care if you sell scammy products or real ones (it is your life). Just know the numbers so you can be aware of the world around you. Hint. If the person sells something recurring, that’s where the real money is.

***Pro-tip, if the product costs $47 or more. Price ends with the number 7. 99.999% of the time it is junk. People will buy and they will also buy the $1,997 special consult promo items as well***

3% Ad Convert: We used a somewhat vague term on the first calculation with “recurring users” which means that people viewed the website and *return*. IE: someone didn’t read one item and leave forever. These are always the best customers because they clearly see the value in what you’re doing. This is also why many companies have blogs that accompany their service (personalcapital as an example – not a recommendation, we haven’t used it before, but it has a blog to accompany the product).

The second and *much more important* metric is paid traffic conversion. That is what separates real money from a smaller scale business. Paid traffic converts are where you make a lot of money. A lot.

If you can convert 3% of paid traffic into sales and you sell a legitimate product worth $100+ you’re going to get rich fast, fast, fast. The reason why paid traffic is so important is simple. Your product is so good that it does not need to be “pre-sold” via trust over long periods of time.

This is exactly why athletes, musicians and celebrities are paid so much to endorse XYZ products and why many affiliate marketers are being sued for impersonating celebs. A great sale is a quick one to a stranger. Enough of the explaining…

If you’re running a biz and you see a 3% conversion rate on your paid ads… We have one word for you. Spend. Spend all of the money you have. Take out loans, liquidate all of your easily sell-able assets and keep spending till it dries up. Once it dries up, turn off the hose and go to the bank.

So here’s the quick math to see how healthy the business is: 3% convert on paid ad + $100 price point = healthy. So if you see a business consistently advertising on extremely high traffic website (yahoo finance for example) that company is doing very, very, very, well. Don’t worry, the affiliate selling it is also doing quite well himself.

In Short: Unless a business is selling aggressively on paid ads in high traffic mega websites, it is not generating a large amount of income. If you are ever in the position to sell a good product at $100+ on 3% conversions, spend until the money dries up.

3) Quick Numbers for Personal Finance Calculations

Strong personal finance knowledge will set you free from regular people. It really will. If you know the math between income, living expenses and compounding you’re going to avoid severe financial pitfalls.  While the link we provided is a basic list post, we’re going to add quick calculations that will not only improve your personal life but also improve your social life.

The Magic of 80%: Most people lie *up* meaning that they will say they make $100K a year when they really make $80K a year or so. Naturally, we recommend you do the opposite.

Here is what you do if the topic of money comes up with “regular people” (you will deal with regular people consistently due to the law of large numbers). They will incessantly prod you with how much you actually make so the best way to trap them is as follows: 1) talk about your minimalist lifestyle and complain about some mundane payment – “cellphone bill” usually works, 2) after complaining about your fake cell phone bill “problem”, ask if they have reception problems at their *home*.

They will usually respond by giving you a little bit of detail about where they live. Once you have this you can now give them your “number”.

Take the neighborhood. Assume they live in a 1 bedroom. Take that number… multiply it by 3 (after tax money), gross up to the total annual income. Boom. That is how much you “make”.

If rent is $2K a month, this means $6K net/month, this is $72K/year, this means ~$115K a year gross.

Too much math? Here is the quickest version!

Monthly Rent of Person * 50

It really is that simple. We’ve found that if you claim to make ~80% of what the other person makes he won’t feel insecure and won’t prod you for any business advice or otherwise. The calculation will get you to ~$100K a year when he likely makes $115-130K gross! You’ve avoided the topic smoothly.

In short: Regular people are always insecure and even if they are secure there is no point in testing the waters. Say you make 80% of what they make and move on. The best way to do this is to simply multiple rent by 50, say that is your gross income and be sure to “complain” about taxes, a mundane bill or otherwise.

A Year Per Month: If you really want to step on the gas with regards to your financial future, start calculating your net worth by years of living expenses saved. If you are young and in the 22-25 bracket this is likely low… between 0 and 1.

Everyone has different levels of risk. But. If you’re reading this blog you likely don’t mind the truth so your lifestyle has a lot more flexibility when compared to your typical schlub.

Every year you have saved = one month of your future life.

While the 4% rule sounds good, it is derived by the personal finance crowd which is primarily a bunch of liars and scammers. You’re a smart person so you realize that retirement is a scam and don’t want to become a boring type A person with no friends, no girls, no personality and no meaningful life experiences.

This means you’re going to shoot for 12x your annual spending. Once you get there, you can now spend like mad (if you want). If you have 12 years in savings there is no reason to accumulate 100 years of expenses since you won’t live that long anyway. Accumulate 12 years and begin doubling down on life experiences.

But this is risky! Of course it is. That said, if you have $1.2M saved (using $100K as the marker), then we are certain you will be able to earn $50K a year in another profession.

4% times $1.2M = $48K + $50K = $98K… Roughly a wash.

In Short: A single year of savings is going to give you a month of time for the **rest of your life!!!** Get to twelve and you can continue working hard on your actual passions/businesses while ratcheting up the expenses with nothing to worry about.

4) Logic Says Success is Relative

Take any success a person has is a field and double it. That is going to be successful in their eyes. This can be applied to any field. If someone makes $50K a year, they will be impressed by $100K. If someone has a “notch count” of 10, they will be impressed by anything over 20. If someone played division 3 football, they will be impressed by a division 1 athlete. So on and so forth.

Knowing this rule of thumb, you can quickly look at audiences to determine if they are groups of people you want to associate with. We’ve already made several association mistakes (we ain’t perfect and will fix this over time) but at the end of the day, you can judge the audience by their relative standards.

Some quick ones to go through:

What type of person is impressed by $100K a year? $50K or less.

What type of person complains about a girl’s standards? Likely a schlub.

What type of person worries about politics? Unsuccessful people blaming the “system”

What type of person is impressed by photos on a computer screen? Can’t do math, is an idiot.

What type of person gets angry over words on a computer screen… “attacks”? Privileged.

In short: Find a person’s “hero” and divide by two. That is the audience. Do you want to be a part of that audience? If so, stay. If not, leave.

5) Application of Logic to Recognize *Our* Weaknesses

The word *our* is highlighted because the authors of this blog have clear weaknesses. Everyone has a weakness. If someone cannot call out a legitimate personal weakness they are untrustworthy individuals.

Use logic to recognize weaknesses, limit them and improve upon them.

Motivational non-sense will do the reverse. They try to inspire people who are not inspired: “be all you can be!” “get pumped up!” “get after it!”, “everything is a limiting belief!”… Only a loser would respond to this because it implies the person needs a “push to get started” and is okay with someone talking down to him. As if you haven’t been going 100% since day one. Degenerates respond to insults.

Instead. Focus on *acknowledging* weaknesses as you improve upon your *primary* talents.

Acknowledging Weaknesses: This is the best word to describe the process. Acknowledgement implies acceptance. Since weaknesses would result in horrible “headline copy writing” we’ll use this blog as an example.

We’re a Bunch of Narcissists: This is evident in the existence of the blog alone. Anyone who wants to spread their message far and wide is going to have some level of narcissism that is *above average* to say the least. It is better to acknowledge this as a piece of our personality and take the good with the bad. The good is that narcissism leads to solid speaking skills and aggression. The bad is that it leads to arrogance, self importance and lack of empathy.

We’re Not Empathetic: Building off of the previous section, we have very, very, very little empathy. Your girlfriend dumps you. You give us the story in 5 minutes. After that, if you say another word about it… We’re just going to laugh. This is not very “nice” but it is the reality. This is a function of life experience as well. But. At the end of the day, unless it is something serious such as death (real health issues) or prison (loss of time) we’re not going to care much. The end. <– Couldn’t even write a paragraph with a drop of empathy.

We’re Not Interested in a Stranger’s Opinion: This is why we don’t read more than 2-4 blog posts a month (max). Unless we know the person in real life, we have no interest in reading anything they have to say. The only way to really break through and get us to listen to anything is by providing 1) actionable advice or 2) giving enough detail for us to figure out if the person is legitimate. That is the only way we will ever read or listen. Once we have done the due diligence, we add the person to the “radar screen” and try to pluck items up here and there. If we do our diligence and realize the person is simply mediocre… we ignore them. Lets make this crystal clear. We do not care who other people associate with. If person A has useful information and person B is his friend… It does not mean we care about person B. In fact, we probably don’t care at all. If you have a business partner with a friend who is a drug addicted lunatic, you don’t need to talk to the friend.

We Get Annoyed Over Investing: We will never do legitimate securities analysis on this blog. That will never happen. We already had two interactions over investing that were down right stupid and dangerous and we’re going to make that the last two interactions for 2015. Last year we had 10 interactions, this year is two and hopefully next year will be zero. The reason why we get annoyed is simple. Just dollar cost average into VOO (not our advice, stolen directly from Warren Buffet) and go back to building income to get your net worth above $1M by thirty. If it is good enough for Warren Buffet’s family, it is good enough for everyone. People can’t even explain what a futures contract is but they want to invest in individual stocks with a net worth under a million. Atrocious. Embarrassing. Irresponsible. Stupid. Lazy. Gambling. Uninformed. Hell. The tone in the paragraph has already gotten annoyed and we’re going to delete any investing questions off of this blog. The good news is that we’re overdue for another sector overview which is the best way to inform without getting ridiculous comments from broke retail investors.

In Short: We have many clear and obvious weaknesses (even more from a personal basis). Now you know why this blog exists. If we can tolerate annoying emails from retail investors about stock picks and avoid extreme narcissism by forcing ourselves to give back (ie: free advice for Wall Street entrance), help people who are down and make acquaintances with strangers… We’re *limiting* those weaknesses by doing this as a hobby.

***Pro-tip, if you have similar bad qualities, surround yourself with 1) people who are better than you and 2) people who constantly talk about “investing” so you can practice your smile, nod and ignore skills.***

Finding Primary Talents: There are clear strengths here as well. Namely 1) direct communication which makes it near impossible to misinterpret, 2) ability to distinguish haters from critics – haters are all deleted and 3) ability to showcase a wider range of tones depending on the mood we’re in.

Instead of making this section about us (like the weaknesses piece) we’ll flip it around and help *you* find your primary talents.

Physical: This is where we would start if you’re a teenager. Are you an explosive athlete, an endurance athlete, an in-between athlete, a precision type athlete? We don’t know. It is your job to find out.

Once you find your talents, see if you can obtain a scholarship in that activity and leverage it to get into an elite university (Hint: many elite educational schools don’t have great sports teams in every field). If you find that you’re not talented enough to make it worth your while… then go and pluck out an explosive athlete (football, basketball, sprinting). Befriend them and get basic training advice. That’s your new routine with perfect form all set in stone. For free.

Analytical: While physical is the easiest to determine, analytical is the most important one. What is your brain good at? Yes that is a terribly phrased question. But. It makes sense. What do you have a knack for? There are only three real analytical skills to be learned: 1) intent, 2) numerics and 3) synthesis. If your skills are primarily intent and numerics… You’re going to be a great investment banker. If you’re heavier on numerics and synthetic you’re going to a hedge fund (heavier synthesis) or becoming an engineer (heavier numerics). If you’re heavy on intent and synthesis you’re going to be a great salesman.

*We realize we have tried to summarize a full post in three items: intent, numerics and synthesis. Without elongating the post, ask yourself where your primary skill is. Do you whip through software code like it is a comic strip? Numeric. Can you quickly figure out if someone really wants to buy an item? Intent. Do you have a deep memory bank that is constantly used to solve large scale issues? Synthesis.

Art: Some people really have this down. If you need an example of someone that does not have this down look not further than this blog! You can clearly see that we do *not* have a knack for writing. This blog is mediocre at best, likely in the bottom 25th percentile to be honest. No surprise that we don’t write for a living.

But.

If you can write, draw, act, sing, play or design at a level that is in the top 5% or so in the USA… You’re going to be rolling in the 7 figure range sooner than later. Finally, we’re obviously not the right people to judge your artistic skills. We wish we could give you advice on art but that would be downright dishonest. The only true measure is approval from an elite person (they tell you you’re good), we hear the Julliard School is quite elite.

In Short: There are three groups of primary talents: physical, analytical and artistic. Try a slew of different tasks for a few hours a week when you’re young. Once you find the one that you’re truly going to excel at… Step on the gas and never look back.

Concluding Remarks

We finally came up with a decent phrase for the views of this blog.

“Optimistic Reality”

This blog likely comes off as harsh and downright cynical at times with splashes of over the top entertainment in the form of videos and pictures. It’s really just a balance. Cynical people are awful, depressing, type A people (usually an atheist as well!). Unrealistic people are also awful, “you can do anything in the world!”. So the best explanation is optimistic reality.

If you can run 100 meters in 12.0 seconds in peak physical condition at the age of 18… You’re not going to be an elite 100 meter sprinter. Ever. You’re slow relative to the elite. That said, to say that you “can’t run faster than 12.0 seconds” is incorrect. There is a major difference there. Saying you’re not going to beat guys running in the 10s is simply correct. Saying you cannot run in the 11 second range is incorrect.

There is always room for improvement. Use *logic* to focus that effort in the right area. It is up to you to find the area in which you will do well. We don’t know where your talents are, that task is in your hands.

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Comments

  1. C says

    Lol, I thought there would be a new post now. Sunday at 19:00 seems to be when you release a post, thought I’d check it – boom, here it is.

    From your post I’m definitely heavy on intent and synthesis – looks like a career in sales is for me. I was told by my Business teacher I’d be a good salesman, but I used to think it was a dirty job – read your “everything is sales” post a few months ago and it turned my mind around completely. This post really helped.

    Those manosphere blogs are damn sad… They seem to suck up to a few bloggers but I’ve not really looked into it much. Seems extremely pathetic, never have I cringed as hard reading a few posts from different sites.

    Anyway, don’t wanna make it too long. Great post.

    • Wall Street Playboys says

      The fact that you already recognized those are your two skills is impressive. You should really look into sales and at least try it for 6 months. If you’re good… The world is yours already. Don’t overcompensate and just practice and see if you’re good.

      Of course they hero worship. That is because the target audience has no father figure. It is no different than feminism.

      Blogs can be great, hero worshiping someone who doesn’t even spend time with you is embarrassing though. If you have a role model, that person should pick up the phone answer questions and help you free of charge. IE: a friend.


      Pro tip, ask your professor for recommendations on sales slots at least as an intern. Seems like a layup for at least a shot if he already believes you’re going to be good (note: this also assumes he worked in sales in the past)

      • C says

        Thanks for the help.

        Currently reading Zig Ziglar’s secrets to closing the sale, got a few other books on sales too.

        Do you guys know off the top of your head any resources/sources that’d help regarding sales? Would appreciate anything you guys could throw my way.

        On the bright side, at least the people who suck up to bloggers remain on the manosphere blogs & it’s not in the comments here …yet. lol.

        Again, I appreciate the reply. Thanks.

      • Wall Street Playboys says

        Our advise is to go work in sales for at least 9 months after reading the book.

        You want a 1 book to 9 months action ratio.

        Once you do that you’ll see why we won’t recommend another sales book. Your sales will be specific to your space.

  2. Brandon says

    You guys have really ratcheted up the content this year! Thank you for the effort.

    I did notice that some of your longer posts had summary bullets at the end that were helpful for remembering the *actionable* advice. Do you mind doing that in the future for articles of this length?

    • Wall Street Playboys says

      We considered this and it may be a good idea going forward. Here’s the list on the fly

      – Ask “does this make sense” to triangulate who you are listening to.

      – (Recurring Users) * (5%) * (Total dollar value of all products) = Income. Be sure to tax this number.

      – 3% conversions are standard for solid ads, if you see someone on major sites they are making good money. Major sites being Yahoo Finance not some niche site.

      – Monthly Rent of Person * 50. Use this to “state your income” when you are certain the person makes much less than you do.

      – 12 years of expense = you’re set for life

      – Divide by two to figure out who is in the audience. The speaker matters much less than the audience.

      – Acknowledge your personal weaknesses, not all “weaknesses can be turned to strengths”. For example a 4’10” person is not going to suddenly play in the NBA.

      – Find out which analytical skill you are good at: 1) intent, 2) numerics and 3) synthesis. We have no good information on art since we are terrible at it.

      – Practice “optimistic reality”.

  3. Jash says

    Man, your blog really tests my absorption rate. I was reviewing “Money-making machine” for the fifth time last night and it’s a messy but worthwhile job trying connecting the dots on a notebook.

    I’m only 19 and you guys have already save my ass a bunch with these lessons. The first time I read your Don’t-Want-To-Sell-Too-Bad post I questioned my career as an IT student, kinda felt like “yeah this might suck, fuck it”, looked over online for a job where I sell – found a home-based one, applied for it and got the job few days later.

    It was really messy starting with my shitty negotiation and selling skills but I’ve been more and more grateful the more I get a feel for it. Very glad your post made sense to me that time, thanks!

    Out of curiosity, will your upcoming product be more inclined on sales or investment banking? Also, have you guys already set up a deadline on when to release it?

    Thanks again!

    • Wall Street Playboys says

      It’s going to be a very different product. Might be a book or training manual but in our view if you release an item it shouldn’t come in some stupid 27 part series.

      If we sell something, that’ll be it and there won’t be a new one for at least 5 years.

      ^ Note this assumes we just keep this as a hobby. As always this blog is just art to us. *Trying* to decrease our own battle with narcissism = )

  4. Truth says

    ” If you live in Manhattan try to live a fun and exciting lifestyle with your $70K gross salary (~$4,300 net) per month.”

    It is not easy.

    • Wall Street Playboys says

      Ha! Correct. Rent alone is $2K out the door.

      Neither is living in a third world country on the median wage… Which is usually ~$700 a month… isn’t any easier.

      Make no mistake. If you’re spending $280K a year in Manhattan versus spending $4K a month in a third world country. Your quality should (gasp) be generally the *same*.

  5. Undercover says

    Studying is my biggest weakness I guess due to not enough focus and daily internet browsing (YouTube, Facebook etc). At the same time studying will bring me the biggest benefit in my life at this moment.

    Any thoughts on this?

    I am working in the adult industry, 28 years old with 50k debt.

    This blog is great and I would like to thank you guys for taking the time to produce content for us.

  6. aff says

    “Don’t worry, the affiliate selling it is also doing quite well himself.”

    How well can an affiliate do? (apologies for the extreme open-endedness)

    • Wall Street Playboys says

      Technically unlimited. It is sales.

      The top guys can do $10K a day (owners of affiliate company).

      Most people aren’t very good and do about $50K a year. The solid ones do $300K/year until they finally branch out and start their own = unlimited.

      • says

        Depending on the niche, you can definitely make over 10k a day. I’m kind of a small fish and have hit $19k in a day. Several of my friends clock over 5M a year doing IM sales.

        Hint: go for mass appeal, huge audiences

  7. b says

    Trying to get the internet marketing stuff working.

    What’s the best way? Trial and error? (does it take years of experience in a niche?)

    Don’t need secrets, but an ideal place to start would be nice.

    Currently on my way to be a successful engineer, but I would like to work online in my spare time.

    • Wall Street Playboys says

      We don’t care what people believe in.

      We are simply pointing out that 99/100 times an atheist is a horrible person to be around. Negative, cynical and harder to trust.

      Push comes to shove we’ll choose someone with a bit of *spirituality* than a typical athiest. Athiest again is 99/100 times synonymous with loser. You can take that one to the bank.

      If they are grounded, then sure, we just play the odds.

      • Damon says

        Ha, I was surprised about the atheist comment too, but I get it, a lot of people who identify as atheists are a pain in the ass to be around. They’re too busy acting like the losers of the manosphere, except their futile crusade of negativity and vitriol is aimed at religion, not feminism. They never learned life’s most valuable skill: smile, nod and ignore.

      • Wall Street Playboys says

        Correct. You’re an athiest? Cool. Let’s move on.

        No need to explain your obsession with it.

        You should be able to get along wih devout religious people as well. Lots of them are fun, cool, moral and honest. Don’t need to agree on everything.

        End of the day, as stated above, push comes to shove… we’ll hang out with the spiritual crowd over the athiest crowd.

    • Wall Street Playboys says

      Letting this comment stand due to second part of question (we got 4 requests to elaborate if we do it will be in a post).

      Yes we have changed the structure on purpose. It is a bit easier to read and is more organized for longer form posts.

      While most list posts get a lot of flack, there is some value if you’re doing long form posting. People can jump to sections faster when reviewing and they can skip over areas they may already know (real estate post is probably the best example of this).

  8. Analytical says

    Wow, very nice way to put the 3 analytical skills and it seems they have already got some attention in the comments.

    I am sure my major strength is in 3 – synthesis, but I don’t suck at the other 2. Could I perhaps improve on 1 and go for some sales?

    P.S. Regarding 1, I think most buyers spending some time looking at an item are in the “maybe” interested state and want more information or a small “push” to decide yes/no. Only a few people are so in awe with something, that you can say they want it right then and there, no?

    +1 on a comment above regarding ending with the list of the post’s actionable advice.

    Thanks for (one more) awesome post.

    • Wall Street Playboys says

      Absolutely! In that case go and work on that analytical skill and see if you have it.

      No idea what you mean by “maybe category” go do sales before making any assumptions. It is honestly irrelevant.

      You never know who you’re talking to. Ie: first rule of sales is to never judge the person


      Will probably add the bullets going forward for the long ones.

      • Analytical says

        Thanks for the feedback!

        I have done some sales in the past, it was nice, but I didn’t go door-to-door (not sure if this is still happening in the world).

        I meant that most people are not sure if they truly want something once they see it. Might be wrong though.

        “You never know who you’re talking to. Ie: first rule of sales is to never judge the person”

        True 100%, there are literally all kinds of persons out there…

        Thanks for taking the time to respond, appreciate it!

  9. Law Student says

    Excellent post guys. On the topic of “Does this make sense” as a filter for new ideas, one of the most important things I’ve learned so far in law school is the Reasonable Person standard.

    It has a wide range of applicatios, but it’s generally seen in negligence law for determining an appropriate standard of care.

    Basically, the Reasonable Person is a fictitious, disinterested, and eminently reasonable third party that looks at a scenario and makes a normative judgment on the parties’ behaviour and/or thought patterns. The Reasonable Person comes to his conclusion using only logic, fact and rational inferences. No matter how emotionally charged the facts of a case may be, the Reasonable Person standard is a way of detaching oneself from the emotional turmoil and focusing only on the facts and how the law applies to them.

    I find myself invoking the Reasonable Person all the time in my daily life, whenever I feel like my emotions are being hijacked in order to persuade me of something. I just ask myself, WWRPD (What would a reasonable person do)? The answer is almost always radically different from what snap judgments my monkey brain jumps to in the moment.

    It’s really just another formulation of your “does it make sense” standard, but I add it because it might “make more sense” to some readers to imagine a disinterested third party analyzing the reasonableness of a proposition as opposed to just asking themselves if it makes sense.

    In short, it’s just an alternate way of coming to the same result, which some people may favour for whatever reason. I hope this helps someone to facilitate critical thinking as much as it does for me.

  10. AvidReaderEurope says

    Lol. Hilarious post. And really glad you pointed out your own “weaknesses”. People forget some of this stuff is entertainment. Otherwise you would just write in bullet-points — who would read that?

    Really enjoy the work. Secured a placement at a Boutique PE Firm for the summer from a Non-Target using your 1. Recruiting for Non-Targets 2. Interview Guide 3. I am a failure post. All gold. It’s not a BB — yet, but it’s a huge start being a Non-Target Engineering Major with 0 proper banking experience.

    Questions:
    1. Have you seen anyone on Wallstreet (Analysts) come from Europe ? Additionally are you able to comment on the level of competition for Wallstreet vs Europe Financial centres?

    No one close to me has seen to be able to answer. I’m thinking of applying for a Summer position but have no clue if it is common or whether the process would be more rigorous. Met an Ivy League student the other day who got into GS and told me he had 7 rounds for a Summer Analyst position. Not sure if he was exaggerating /showing off or being honest at the level of difficulty compared to what people here in Europe say.

    2. Will you be focusing more on Finance or Business (Start-up) related content in the future?

    3. Misc question – will you be doing any more Day in the Life style posts, etc. Found that super useful.

    Thank you for the time! Appreciate it. Has been super helpful this year. Especially with the Q&A’s in the comment sections. You wouldn’t realise how much.

    • Wall Street Playboys says

      1) we have never worked in Europe so we will never comment. Better to say we don’t know than give bad info. In general best to stay in your geo if you’re going up and to the right
      2) interview process at BBs for an Intern is 3-7 interviews. 3 is target schools up to 7 is possible for a non-target
      3) we write whatever we feel like probably a no on day in the life type posts. They aren’t really helpful for a reader beyond entertainment

  11. J.R. says

    Great content, I can’t believe you are giving it away for free!

    Quick questions:

    1) I know you are teaching quick “back of the envelope” calculations, but, is there a specific reason for using a “$100 price point” when you discussed the paid traffic conversion rule. In your Money Making Machine post you talked about a “healthy margin” instead. That’s why I ask.

    2) Totally unrelated but I’d like to hear your opinion. I’m from Guatemala, I live there and have no plans to leave. If I’m trying my best at learning sales (information product for now), should I target only the Spanish speaking market (what i know, but market might be small) or should I go for it and try a bigger market (I might not be able to “fake it”)?

    Thank you.

    • Wall Street Playboys says

      1) we give away enough so people who are smart know what we’re doing. But not enough to actually create competition. So everything is somewhat vague otherwise we wouldn’t post for free

      2) sounds like you should build your spanish sales Rolodex, then learn English on the side. After you are starting to cap out in your country, expand to English speaking territories.

      This is pure guesswork though you should talk to someone in your field. We only responded to part 2 because selling what you know is always easier. We are unrelated to guatemala (by quite a bit!)

  12. NikFromNYC says

    This is delightfully clear cutting through BS as a nice reminder of the type of no nonsense message that book writers Dan S. Kennedy or Robert J. Ringer used to be nearly the only source of.

    I’m launching a new physical product line coming out of shop and catalog sales, finally taking direct online sales seriously with quite low cost of production after years of perfecting a fabrication studio on 110th/Broadway where as a student I snagged a large rent stabilized space by shear chance not even aware that’s what it was.

    What I’m still confused about is how pay per click seems to have been so commonly inflated by huge corporations into the $2.30 range per click for keywords be it AdWords or Twitter promotioned posts etc. so with that and your 3% conversion rate you would be at $76 per sale which is unworkable for a real $100 product and ridiculous for my $65 or perhaps half that direct products.

    Lots of newer options exist now through including cheap ($0.10-$0.20) promotion within Etsy that already page ranks high for product categories on Google, or now myriad app alternatives to Craig’s List or Ebay that allow designers to sell there too.

    I’m at the conversion rate testing stage this very moment.

    A funny fact is that the hot Korean girlfriend who paid our rent for nearly two decades became one of Google’s AdWords attorneys but that was just paper pushing for the same huge corporations and she had little insight to offer.

    • Vince says

      It’s not unworkable…it might mean you have a conversion problem.

      $2.30 CPC with 3% CR = ~$70 profit (assuming the $100 is digital)

      With 5% CR = ~$270 profit

      Math might be a bit off.

      Improve from the front of the click: write better PPC ad copy

      or the back of the click: make your landing page design and offer irresistible + *always* use upsells (and continuity wherever it makes sense)

      As long as your earnings/click (EPC) > cost/click (CPC) you can spend profitably.

      Even if EPC = CPC, if you have an email list setup…you’d be acquiring customers free of charge. Have/add an upsell or backend offers…now you’re profitable.

      • NikFromNYC says

        I don’t get the same number: a 3% = 0.03X conversion rate requires 33 clicks for 33 * 0.03 = 1 sale, so $2.30/click is $75.90 cost and for a $100 product that leaves $24.10 profit if your other costs are zero and leaves no profit for any product under $75.90. My physical products would still be quite profitable at only $32, much more so for selling much faster at such a low price, ramping up my conversion rate, but at $100 they are unlikely to sell at all online outside of a glitzy Fifth Avenue shop. So my sweet spot involves jacking up the price to fund advertising to get clicks before I nuke my conversion rate by being too expensive. But that optimization seems only possible within an Etsy shop that is 1/50 the click cost (!) with an already per-selected route of butter, since Google is already bidded up to an unworkable $2.30/click by exactly those Madison Ave and 5th Ave shops I’m in competition with. My physical cost per item is only $7 including labor.

      • NikFromNYC says

        Crazy Swype keyboard: “per-selected route of butter” = “pre-selected type of buyer”

    • Vince says

      My math was:
      3% CR meaning 3 out of 100 clicks you got, converted
      100 clicks * $2.30 = $230 ad spend (AS)
      Assuming $100 digital product: 3 sold = $300 return on ad spend (ROAS)

      ROAS – AS = $70 profit

      Ideas I’ve used for digital products:
      [1] Start with Bing (cheaper than Adwords), Facebook, or Media buying
      [2] Use upsells and be OK with your front-end being a “loss leader” and reinvest % of profit to make front-end break even or +ROI
      [3] Build an email list and sell to them

      I mainly do digital products and services, no expertise on physical…this came highly recommended to me for physical products: The Adwords Bible for Ecommerce by David Rothwell

  13. Pogy says

    Reading your twitter is like reading the importance of logic in the navigation of life. Rude awakening.

    Please keep doing what you guys are doing.

    Now, onto more action.

  14. moregame says

    have followed you guys for over a year.

    my own opinion, (take with a grain of salt) – content is getting a bit too serious these days.

    more insights on chicks, game, relationships, status, would be appreciated.

    • Wall Street Playboys says

      We did a game post ~4 posts back (still on front page). We write what we want to write.

      Eventually you live a life where “game advice” becomes useless advice. We’re basically there.

      Maybe this site is no longer for you, not a big deal don’t need to read it.

      • Kbay says

        > Eventually you live a life where “game advice” becomes useless advice.

        Bingo.

  15. Gordon says

    Can you guys write a post on skin and hair care? I find it to be very important as more young men are aging so rapidly. They are losing their hair and getting premature wrinkles too soon. Thank you.

      • Matt X says

        Cool advice here, but I guess #1 should be explained further. If you’re doing anything risky, you will be exposed to stress, so this is really a mental game, right?

        Stoicism: focus on doing your best and delivering on your full potential. If you do that, all stress is irrational, because you’re doing the best you can possibly do.

        Amirite?

        P.S. I picked up a book on stoicism only because I read WSP – and I’m glad I did!

      • Wall Street Playboys says

        Ha you answered your own question.

        If you’re doing your best you won’t be stressed out.

        This is why it is so important to be financially independent. Money stress is the worst. Only thing worse than money stress is health stress.

  16. Gordon says

    Thank you so much for your blog and tweets. I see this everyday. Oh, no one has banged more chicks than me in their teens and twenties. Oh I used to be jacked and now I’m fat. Oh I used to be the biggest drug dealer back in the day. And now….silence…90 % of people live on the past and brag about it. You should write a post about that…Thank you for all the valuable information that you guys put out there.

    • Wall Street Playboys says

      Thank you for following!

      We have a post on this somewhere, essentially if your life is good you don’t care too much about the past.

      The best year is always this year… The year that will surpass this year is always… Next year.

      If you hit a bump along the way, no worries, keep working it’ll fix itself shortly.

  17. WSPuser says

    Dear WSP,

    First, thank you for the wealth of information provided.
    Q: Since a ETF on the S&P500 would give an avg. of 5/7%; would you recommend investing in a fixed bank deposit in an emerging market giving 12 % p.a. if it was completely safe from political and currency risks?

    Thank you for your time and advice.

    • Wall Street Playboys says

      1) your returns on the S&P assumes the *worst* market timing. Ie: buying at the top and then seeing a recession immediately.
      2) the rate does not matter. Emerging markets have significantly different inflation rates (sometimes 8%+). Our guess is no but we don’t bother investing in savings accounts abroad. If you are beating inflation in the country you live in, then sure. Otherwise you are factually losing money.
      3) please post in the relevant section next time. Your comments will now be deleted if you continue to post questions in unrelated posts.

      Finally… Lol at 12% with zero risk. Simply a lie please do not make these things up on here. If people respond asking for more info we will simply delete the comments and delete this convo as well. Trying our best to keep the fools off of the comments (much much harder than it seems).

  18. Scott says

    I took the vast majority of the money I saved last year and invested it in high-risk securities. But, like you said, I’m a gambler. It was also a one year thing and now I’m DCA into VOO.

  19. Tom says

    So I followed your advice and searched for a rich multi millionaire who I would like to trade places with so he can become my mentor. We hit it off and then he asked about my assets and liabilities. I told him that my only assets were stocks, which I have in the voo, and no liabilities. He then asked me why do I want to keep my money locked in the market? If I want to be rich, I would have to double my money quick instead of buying and holding for 30 years. So he suggested real estate. He said that that’s the quickest way to get rich and take a bigger risk. That whole stock market thing takes to much time and it will probably crash in soon anyway. This guy was no help at all. That’s all he kept drilling. Real estate, real estate real estate = filthy rich. Any thoughts?

    • Wall Street Playboys says

      We already covered real estate in a post.

      The VOO investment is for your *extra* cash.

      We have said this over a million times. The only way to get *rich* is to start a company. Period.

      You simply take the extra money and dollar cost. If you can invest in a company you always invest in your own company.

      Risk reward always favors betting on yourself! (Unless you’re an idiot then you’re better off never starting a company, ha! Joke)

  20. Tom says

    On your tweet you said that vacations are stupid however you guys mentioned before that you have traveled to 35 countries. Even if you love your career don’t you think your brain needs a break from it. Plus traveling is also good for the brain. Can you elaborate?

    • Wall Street Playboys says

      Most people “look forward” to vacations. Live a life where you are happy at all times.

      Traveling is just part of what you were going to do anyway.

      It is not a “special day” you’re just as happy on your “two weeks off” as you are on a Monday morning. No emotional change

  21. says

    Where can I find more information or a way to figure out my relative strength in the numeric, intent and synthesis categories? This is a new way of breaking down intelligence, and it intuitively makes a lot of sense to me.

    • Wall Street Playboys says

      Hahaha. We got over 20+ requests to explain this now! Eventhough as said right here in the comments we won’t explain in a comment!

      Will have a post up later, maybe in a few weeks.

      Amazing how one clear explanation can open a huge can of worms!

  22. Tom says

    I know that you guys always mention to start a business on the side on top of your career. So what do you think about starting a brick and mortar business? Or when you guys preach about starting a business you just mean a online business? Thank you.

  23. which says

    Not sure if this is more a question of logic or rationality. I always feel that I “should” be doing something to get where I want to be, and as such I always have a lingering anxious feeling. Ie. “I should be better now, and in order to do that I should be doing this”. Or “I need to get this done now/as quick as possible (for IB Analyst) tasks, in order to be the best”.

    I want to focus my efforts where they matter most, but I feel the above hamstrings me with the anxiousness I get. Not sure if this make complete sense, but any advice?

    • Wall Street Playboys says

      Great question! Will add to list.

      Honestly this blog has grown to a point we never even thought possible. Will get our next post up and start taking a few post topics to increase engagement.

  24. Apostle says

    Found you guys through Danger&Play a few months back and *optimistic reality* definitely works well for the content that leaves me questioning life more than I already do. (Gold)

    Anyways, I’ve been hustling as a door-to-door salesman for literally 9 months now (I’m 25) as you mentioned above at commenter *C’s* comment that should be the time of action taken for reading Ziglar’s book.

    My intent in sales has gotten to elite levels and it only keeps getting better and easier as I interact with hundreds and hundreds of people 6 days a week… although, I am a natural introvert, but because of Game and sales I have mastered social dynamics and communication to levels I didn’t know existed for myself. So the whole intent and synthesis section makes perfect sense for me as you linked your *You don’t want to sell? Too bad* post which solidified my perspective on sales as a mandatory skill for any man.

    Getting long winded here…

    I just joined/started in the ORIGINAL company that innovated *Network Marketing* and the products are changing my life and I’m being taught to dream and dream BIG!

    ***Question: Any suggestions on how to get people to want to follow you to grow?***

    My main objective as an Independent Business Owner is to show this deal to as many people as possible and build my team to at least 150 (active) people to be cashflowing and receiving a residual income of $12k/month EVERY month although, there is no limit to how enormous my organization and income can grow… this company has:

    -Made over 11 Billion in annual sales
    -Has over 55 years in the market
    -Since 1959 has paid more than 40 Billion in bonuses and incentives to its global network of IBO’s
    etc.

    I see you guys always mention that financial freedom is the way to go and to have a million dollars in the bank by age 30. I see this company making this happen for me

    Thanks in advance!

    P.s. I’m a very detailed and analytical person, hence the long comment

    • Wall Street Playboys says

      Overall sounds like things are going great for you!

      Definitely not sure how to assist you since this blog is targeted at Wall Street. In your shoes network within the firm you are at and find the guy who promotes within or can give you leverage in the future. People are not created equal.

      If we can help in the future drop by. But. As mentioned in our *start here* section we cannot comment on things we do not know!

      • Apostle says

        Respect, guys.

        Could you please explain and elaborate on what you mean when you say:

        “People are not created equal.”

      • Wall Street Playboys says

        People have different talents. Some people have fast twitch muscles. Some people are smarter than others. Some people are lazy. Some people will work to the bone.

        80% of people are lazy and worthless so if you simply work hard you won’t be below average.

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