Feeds:
Posts
Comments

Posts Tagged ‘money’

500-saudi-riyals-banknote-2016-series-1

Let us start a business! This sentence you will hear a lot when Saudis some how get excited when they talk about money and want to become rich in no time. Nowadays, you browse the internet or go to any book store (basically Jarir book store the one and only) and all you see is stuff on how to be come rich and successful, in addition to success stories of millionaires; how they started from nothing and now they have a fortune. This kind of B.S what makes young fellows motivated. And I say young, since majority of the time the idea of starting a business comes from them and usually they are single not married, because once you get married those ideas and plans of having your own business will be something you day dream about.

See, when it comes to business, your passion and mastery into what you do is what gives you the competitive edge to succeed. Not the fantasy stories that you hear about a poor man started selling indian spices on the street of Saudi and somehow he became a multimillionaire. Selling hot beverages; tea on the street or starting a laundry service is not the answer to where you want to reach if it’s not supported by the basic business 101 fundamentals.

Advertisements

Read Full Post »

When Saudis talk about investing, it’s usually about investing in the stock market…period.   Not real estate, bonds, funds, etc.   For some Saudis, the stock market is considered the easiest way to invest with less “physical” work, at least that what some people think.   Since casinos are illegal in Saudi Arabia and gambling is considered forbidden in Islam, the stock market can be the next best thing.  I know investors have to do some market research or hire a broker, but that doesn’t guarantee you will have higher return.  Otherwise everyone will do their long ass homework about stocks and bonds or spend more money to hire those soft talking sophisticated brokers.  Therefore, Saudis pick simpler ways to invest!

One way to invest in the stock market is based on your instinct, if you’re feeling lucky… go for it and pray for the best. Another common way is to ask your peers and they will tell you that they made a lot money last week on a certain stock and you should invest in it.   Of course stocks don’t stay at the same status everyday…that’s why people spend  half their lives staring at the stock screens, but some Saudis ignore the fact the stocks change and start investing in a certain stock…assuming they are going to make a lot money just like their friends.

Read Full Post »

lisence_plate2 Saudis like to follow one of the most poplure expressions which is, ” Don’t judge a book by it’s cover, but by his license plate”. Apprently, socitey will categorize you based on the metal plate that is hanging from your car. People will set up auctions to sell those license plates, and if you hear the amount of money that Saudis are paying, you think they are buying a brand new car with the license plate!   Saudis will spend every penny that they got just to come up with the lamset phrases on their license plates.  The more those phrases has sexual meaning, the more streets credit the owners will get. For example, license plates that has SEX, LUV, or ASS can raise the standard bar of your car, even if you are driving an old 1980 Toyota Corolla. The love of being unique make Saudis strive to get customized license plate, therefore, don’t be surprised if you saw Saudis hanging their license plate on their chest like a chain and walking around with it.   By the end of the year of 2010, any phrase on a license plate that you can think about eventually you will see it on Saudi streets.

Read Full Post »