Things to Know Before Attempting to Summit Mt. Kilimanjaro

Mount Kilimanjaro pic
Mount Kilimanjaro
Image: rei.com

A seasoned financial professional, Arthur “Art” Samberg currently runs his family office, Hawkes Financial LLC. In 2000, Art J. Samberg summited Mount Kilimanjaro. The following are things you need to know before attempting such a feat:

1. Climbing isn’t required – Outside of some minor bouldering if you take the Machame, Umbwe, Shire, or Lemosho routes, you don’t need climbing skills to summit Kilimanjaro. However, fitness is essential, as you will spend approximately five to seven hours hiking on difficult terrain each day.

2. The weather – Most Kilimanjaro climbers make their ascents between January and February or June and October, as these are the mountain’s dry weather periods. If you wish to avoid crowds you can gamble on attempting an ascent during the transition from these dry periods into the rest of the months. However, you may find your attempts curtailed due to the weather.

3. Drink plenty of water – Dehydration is a key contributor to altitude sickness, so you should aim to drink about three liters of water each day. Your guide will replenish water supplies as you ascend so ensure you have plenty available to you at the start of each day.

Investment Tips That Lead New Investors Astray

Investing pic
Investing
Image: instphil.org

Arthur J. Samberg graduated from Columbia Business School in 1967. Appreciative of his time there, Art Samberg has donated over $35 million to help the school create new programs. Presently, Art Samberg is the owner of Hawkes Financial, LLC, his family office. He founded his first fund in 1986.

Neophyte investors tend to get the same advice, which amounts to investing safely. But certain investments only appear safe. For instance, experts tell beginners to invest in well-run growth companies, but small-cap and value companies stand a better chance of producing higher gains. High-quality growth companies are popular because they are known, which means they cost significantly more to acquire than small-cap and value companies, putting them out of reach for the majority of new investors.

Another long-standing belief in investing is that holding an investment for longer periods of time results in increasingly greater odds of success. The opposite is, in fact, true. The longer an investor holds onto a company or diversified portfolio, the higher the chance of a catastrophic event that ruins the investment. Some investors are too stubborn to let go on an investment and will let it ruin them.

Advice for First-Time Business Owners

Art J. Samberg founded the first Pequot hedge fund in 1986. From there, he went on to become something of a legend in the investment space. Columbia Business School, his alma mater, opened the Arthur J. Samberg Institute for Teaching Excellence in recognition of generous donations he made in 2002 and 2006. Today, Art Samberg presently manages Hawkes Financial Services LLC, his family office.

First-time business owners tend to suffer from overzealousness; after identifying an opportunity, they rush in, determined to make it work. Unfortunately, most of these business owners fail to capitalize on such opportunities; they saw only the opportunity without fully understanding the area in which it lay. Never build a business on a foundation of trendiness or prospective profits. Entrepreneurs should set out to innovate or add to an industry they know intimately.

Prepare a business plan, but be ready to put out fires. No plan can account for every eventuality. Oftentimes, the difference between good and great business owners comes down to how they react in the face of unforeseen chaos.

Inevitably, first-time business owners will cross paths with an investor. Prepare for these once-in-a-lifetime encounters by formulating an elevator pitch, a 30-seconds-or-less explanation of the business or product they have to offer and why it will change the world. A good pitch should also encompass the business’ objectives and how the owner intends to go about achieving them.