Wednesday, November 10, 2010
Saturday, May 8, 2010
Frendz 1...
"It is more shameful to distrust one's friends than to be deceived by them."
- Duc de la Rochefoucauld
True to the above quote I did find a few friends at Great Lakes whom I can say I trust with my eyes closed and a revolver in their hand!! This post is a tribute to all the great moments we shared together, the whims, the fancies and the agonies that we faced together and to all the great and cherish able moments that we will continue to be a part of our bond and friendship.
Here I would like to introduce this bunch:
1.The mouth management masterpiece: Well if someone has an innate ability to talk and convince people, be a diplomat and brand ambassador and sell stocks (without having any idea of what he is selling!!) then it has to be him. He is someone whom you can lean and ask for advice on your bad days, someone who has a sense of humor which can brighten up the darkest of days. I would just like to say thanks for all the great moments.
2.The waterman: Yes this is how I will always remember him though there are lot of other qualities and memories about him which are just not forgettable. A sound methodological mind powered by cryogenic confidence that’s his style. Someone who’s talks always end up in ‘That girl!!’ and I must admit that I enjoyed every bit of it. It was a pleasure to have found a friend like him who pardons you after you make him drink an extra milkshake after an emotional fit. Always true to his word, dude just stay as you are.
3.Dean’s List: Well for someone who is larger than life in all things that he performs, be it academics or cricket, this fellow is one of the most down to earth and humble person that I have come across. For someone who taught me about Pink Floyd, gave me his inputs and assignments when most needed and did have a heart to heart talk even after all the misunderstandings, any amount by of thanks will be less. Good luck dude in whatever you do and hope to have you my side always.
4.Chief Coke Officer: I would like to use this space to set right a few myths about this guy which we have regularly used to defame him!! Termed as a free rider and parasite for not doing any assignments is more of a myth and I agree that he has given his inputs and assignments when needed. I hope that makes you happy dude. For someone with whom I have had the most fights on issues ranging from accounting entries to food he is someone who takes these clashes very well and has almost never allowed it to affect our friendship. His title of Chief Coke Officer
leaves no room for speculation about his tastes and likings. ’Mahabs Chale’ the standard phrase in his standard style should go down in the history of great lakes as a golden quote. Dude hats off to you.
5.Visiting Student: Apart from calling him a Visiting a student one could have called him a Mr. PPT or a Mr. Excel. One of the most logical and analytical heads he is someone who has always helped me to lay down my options logically and then decide for myself. Whether one needs the latest assignment or one needs to make a ppt for a b plan, his is the door which had to be knocked ( it’s a different story that half the time it would be useless as no one would be there to answer) . This ‘pristine drop of water’ is going to a large organization but still I could bet my money that he will not get lost :)
- Duc de la Rochefoucauld
True to the above quote I did find a few friends at Great Lakes whom I can say I trust with my eyes closed and a revolver in their hand!! This post is a tribute to all the great moments we shared together, the whims, the fancies and the agonies that we faced together and to all the great and cherish able moments that we will continue to be a part of our bond and friendship.
Here I would like to introduce this bunch:
1.The mouth management masterpiece: Well if someone has an innate ability to talk and convince people, be a diplomat and brand ambassador and sell stocks (without having any idea of what he is selling!!) then it has to be him. He is someone whom you can lean and ask for advice on your bad days, someone who has a sense of humor which can brighten up the darkest of days. I would just like to say thanks for all the great moments.
2.The waterman: Yes this is how I will always remember him though there are lot of other qualities and memories about him which are just not forgettable. A sound methodological mind powered by cryogenic confidence that’s his style. Someone who’s talks always end up in ‘That girl!!’ and I must admit that I enjoyed every bit of it. It was a pleasure to have found a friend like him who pardons you after you make him drink an extra milkshake after an emotional fit. Always true to his word, dude just stay as you are.
3.Dean’s List: Well for someone who is larger than life in all things that he performs, be it academics or cricket, this fellow is one of the most down to earth and humble person that I have come across. For someone who taught me about Pink Floyd, gave me his inputs and assignments when most needed and did have a heart to heart talk even after all the misunderstandings, any amount by of thanks will be less. Good luck dude in whatever you do and hope to have you my side always.
4.Chief Coke Officer: I would like to use this space to set right a few myths about this guy which we have regularly used to defame him!! Termed as a free rider and parasite for not doing any assignments is more of a myth and I agree that he has given his inputs and assignments when needed. I hope that makes you happy dude. For someone with whom I have had the most fights on issues ranging from accounting entries to food he is someone who takes these clashes very well and has almost never allowed it to affect our friendship. His title of Chief Coke Officer
leaves no room for speculation about his tastes and likings. ’Mahabs Chale’ the standard phrase in his standard style should go down in the history of great lakes as a golden quote. Dude hats off to you.
5.Visiting Student: Apart from calling him a Visiting a student one could have called him a Mr. PPT or a Mr. Excel. One of the most logical and analytical heads he is someone who has always helped me to lay down my options logically and then decide for myself. Whether one needs the latest assignment or one needs to make a ppt for a b plan, his is the door which had to be knocked ( it’s a different story that half the time it would be useless as no one would be there to answer) . This ‘pristine drop of water’ is going to a large organization but still I could bet my money that he will not get lost :)
Sunday, September 6, 2009
Why Wall Street ?
Recently a friend said “ Indeed Wall Street is a good movie , but why do you like it so much, after all Gecko most likely went to jail in the end. “
This is what set the platform for this post.
Indeed the movie is about power, politics, money and glamour but more so it is about one’s self. It is about making choices, and it is our choices that define us every day. Also the movie drives home some very important mental models. Though I do not have a favorite scene there are some which do register a ring.
The most obvious amongst them is Gecko’s speech “Greed is good.“ That one line drives home so elegantly a point which traders world over forget every once in a while and pay heavily for. After all if one were to summarize all that we know about investment and trading into two words it would be Greed and Fear.
The quintessential lesson of perception and reality is wonderfully brought out when Gecko explains the value of the painting to Bud in his office and says “Finally the perception has become reality.” There is nothing absolutely real in this world especially in trading. As Graham says “In short term the stock market behaves like a voting machine, but in the long term it acts like a weighing machine.” And in the long term we are all dead.Finally the last standoff between Gecko and Bud drives home the point about choices that we make. The dialog
“I don't know. My Dad once told me, money is something you need in case you don't die tomorrow. I guess I realized I'm just Bud Fox. And as much as I wanted to be Gordon Gekko--I'll always be Bud Fox.” says everything. And if one is still wondering that one can get away by doing right things partially then please remember “ One cannot get pregnant partially. “
This is what set the platform for this post.
Indeed the movie is about power, politics, money and glamour but more so it is about one’s self. It is about making choices, and it is our choices that define us every day. Also the movie drives home some very important mental models. Though I do not have a favorite scene there are some which do register a ring.
The most obvious amongst them is Gecko’s speech “Greed is good.“ That one line drives home so elegantly a point which traders world over forget every once in a while and pay heavily for. After all if one were to summarize all that we know about investment and trading into two words it would be Greed and Fear.
The quintessential lesson of perception and reality is wonderfully brought out when Gecko explains the value of the painting to Bud in his office and says “Finally the perception has become reality.” There is nothing absolutely real in this world especially in trading. As Graham says “In short term the stock market behaves like a voting machine, but in the long term it acts like a weighing machine.” And in the long term we are all dead.Finally the last standoff between Gecko and Bud drives home the point about choices that we make. The dialog
“I don't know. My Dad once told me, money is something you need in case you don't die tomorrow. I guess I realized I'm just Bud Fox. And as much as I wanted to be Gordon Gekko--I'll always be Bud Fox.” says everything. And if one is still wondering that one can get away by doing right things partially then please remember “ One cannot get pregnant partially. “
Saturday, August 15, 2009
Bribery
Nepal’s anti-corruption authority has come up with a novel solution to rampant bribe-taking at the country’s only international airport — the pocketless trouser.
The authority said it was issuing the new, bribe-proof garment to all airport officials after uncovering widespread corruption at Kathmandu’s Tribhuvan International Airport.
The authority said it was issuing the new, bribe-proof garment to all airport officials after uncovering widespread corruption at Kathmandu’s Tribhuvan International Airport.
Wednesday, July 22, 2009
A day should have more than 24hrs
I used to think 24 hrs in a day was long, but no longer do i commit such a mistake.
It seems even if i cut my sleep to some 28 hrs a week then too i am not having enough time.
With micro economics and 'rocky' sir back in action there is a lot to chew and digest. A big assignment in finance, case study in eco, a book to complete in quants i really need to figure out the optimum utilisation of time.
But then i am enjoying this, haven not had so much of gyan squeezed into my tiny head in such little time.
The book says time value of money , i would argue it money value of time !!!
It seems even if i cut my sleep to some 28 hrs a week then too i am not having enough time.
With micro economics and 'rocky' sir back in action there is a lot to chew and digest. A big assignment in finance, case study in eco, a book to complete in quants i really need to figure out the optimum utilisation of time.
But then i am enjoying this, haven not had so much of gyan squeezed into my tiny head in such little time.
The book says time value of money , i would argue it money value of time !!!
Saturday, June 13, 2009
Numbers !!!
Maths in real life is a tricky thing, now all mathematicians will tell you 4 is to 2 is same as 8 is to 4, which is same as 2 is to 1. Very true mathematically. But what if you make your decision just on the basis of this ? Disaster !!! Now a single toilet facility between two people is a completely different ball game (no puns intended) than from two toilets shared amongst four people. Social psychology tells us having two dissenting committe members against four others is different from one dissenting member against two. So in strategy just numbers don't help. Its better to use them with caution.
Tuesday, June 9, 2009
'Tips' Puzzle solution
Hello All,
It has been a long time since i updated the blog.That has been so because of a lot of factors but i am not going to dwell into them now. Today i plan to write the solution for the puzzle i had put forward earlier.
So lets get started !! The whole puzzle had been put forward from the perspective of the person who was receiving the mail. Now let us turn our attention to the person who was sending the mails. Lets call this person A and suppose that he somehow procures a huge list of contact details of potential customers with their email ids. Not a very tough task i suppose considering the number of firms selling such lists in today's market. Now Mr A is very clever as we will show soon and has a firm grasp on a simple concept of 'slice and dice'. He smartly divides this huge list of people into three groups X1, X2 and X3 on a random basis.To each of these groups he sends a "tip" in the following order.
X1 -> The price of stock will go up.
X2 -> The price of stock will go down.
X3 -> The price of stock will stay as it is.
Now if u observe carefully then you will see that the three predictions cover the entire universe of solutions of what could happen with the stock prices. One of them has to come true no matter what!!!
So after one month our Mr A sits back on his arm chair and picks up the group for whom the prediction had come true and again sub-divides that group in three. The other two groups are discarded and the same process is repeated with another stock tip. This goes on for a few months. Each time two third of the people to whom the tip was sent were discarded and the remaining one third for whom the tip had come true were sent the next round of mails.Thus in say 6 months time he had a set of people for whom six consecutive predictions had come true. These guys had by now truly started believing in what Mr A was claiming. What a way to manipulate human psychology !!!
Now people for whom all these predictions had come true won't mind coughing up the fees he demands for any future 'tips'. Thus he has his loyal base of customers!!
Now i do feel bad for the fellow who suffered huge losses on count of this, but then its no point getting GOD in middle of this. All that has happened is he has been tricked and fooled completely and he does not even realized that even after the whole episode. Moral of the story be critical with the information that you have. Today we have more noise and less information. Always try to understand the underlying dynamics. Most important, only because there is a strong correlation between two things does not always mean that one is the cause and the other is the effect.
Thus my suggestion be aware the next time you get a mail!!!
It has been a long time since i updated the blog.That has been so because of a lot of factors but i am not going to dwell into them now. Today i plan to write the solution for the puzzle i had put forward earlier.
So lets get started !! The whole puzzle had been put forward from the perspective of the person who was receiving the mail. Now let us turn our attention to the person who was sending the mails. Lets call this person A and suppose that he somehow procures a huge list of contact details of potential customers with their email ids. Not a very tough task i suppose considering the number of firms selling such lists in today's market. Now Mr A is very clever as we will show soon and has a firm grasp on a simple concept of 'slice and dice'. He smartly divides this huge list of people into three groups X1, X2 and X3 on a random basis.To each of these groups he sends a "tip" in the following order.
X1 -> The price of stock will go up.
X2 -> The price of stock will go down.
X3 -> The price of stock will stay as it is.
Now if u observe carefully then you will see that the three predictions cover the entire universe of solutions of what could happen with the stock prices. One of them has to come true no matter what!!!
So after one month our Mr A sits back on his arm chair and picks up the group for whom the prediction had come true and again sub-divides that group in three. The other two groups are discarded and the same process is repeated with another stock tip. This goes on for a few months. Each time two third of the people to whom the tip was sent were discarded and the remaining one third for whom the tip had come true were sent the next round of mails.Thus in say 6 months time he had a set of people for whom six consecutive predictions had come true. These guys had by now truly started believing in what Mr A was claiming. What a way to manipulate human psychology !!!
Now people for whom all these predictions had come true won't mind coughing up the fees he demands for any future 'tips'. Thus he has his loyal base of customers!!
Now i do feel bad for the fellow who suffered huge losses on count of this, but then its no point getting GOD in middle of this. All that has happened is he has been tricked and fooled completely and he does not even realized that even after the whole episode. Moral of the story be critical with the information that you have. Today we have more noise and less information. Always try to understand the underlying dynamics. Most important, only because there is a strong correlation between two things does not always mean that one is the cause and the other is the effect.
Thus my suggestion be aware the next time you get a mail!!!
Wednesday, February 18, 2009
Bank Runs
“XYZ bank is going to become insolvent, get your money out.” Said Dev in a concerned tone to me. This was a few months back if you remember. In short that is a bank run for you. As it progresses it generates its own momentum and becomes a self -fulfilling prophecy. This can destabilize the bank to an extent that it might as well be staring at bankruptcy.
But then you may be tempted to ask after all where did the money go? What’s the problem in returning it to the depositors? You are right, but first we need to understand the function of a bank.
Banks are intermediaries between savers who prefer to deposit and borrowers who prefer to take out loans. Thus they provide a valuable service by channeling funds from many individual deposits into loans for borrowers. The problem occurs in the timelines that we set for our deposits and the timelines set by borrowers for their loans.Generally business investment often requires expenditures in the present to obtain returns in the future (for example, spending on machines and buildings now for production in future years). Therefore, when businesses need to borrow to finance their investments, they prefer loans with a long maturity (that is, low liquidity). On the other hand, individual savers (both households and firms) may have sudden, needs for cash, due to unforeseen expenditures. So they demand liquid accounts which permit them immediate access to their deposits (that is, they value short maturity deposit accounts). Under normal circumstances all goes fine since savers unpredictable needs for cash are unlikely to occur at the same time.Thus a bank can make loans over a long horizon, while keeping only relatively small amounts of cash on hand to pay any depositors that wish to make withdrawals.
Now, if all depositors attempt to withdraw their funds simultaneously, a bank will run out of money long before it is able to pay all the depositors. This means that even healthy banks are potentially vulnerable to panics.So what is the solution?
Insurance is a nice concept that comes into picture over here.Say the government was to insure your deposit, that is if the government was to promise that no matter what happened you will get your money back. Thus you now have no incentive to participate in the bank run. Now that all or atleast most depositors would think on the same lines thus almost wiping out the probablity of bank runs. What an elegant solution!! Are we missing something?
Well yes, though we have solved the original problem we have introduced a new one. Banks which took the risk now come to believe that they will not have to carry the full burden of losses. The government is there to take care in case things turn sour.Now will this make the bankers aggressive lenders? Will they lend to any Tom Dick and Harry (read sub prime borrowers ) who do not have enough resources to pay back the debt.I bet they will. We were trying to make our deposits safe but it turns out we have just made it all the more unsafe without realizing it. Any ideas to get out of this ? Keep posting.
Cheers !!
But then you may be tempted to ask after all where did the money go? What’s the problem in returning it to the depositors? You are right, but first we need to understand the function of a bank.
Banks are intermediaries between savers who prefer to deposit and borrowers who prefer to take out loans. Thus they provide a valuable service by channeling funds from many individual deposits into loans for borrowers. The problem occurs in the timelines that we set for our deposits and the timelines set by borrowers for their loans.Generally business investment often requires expenditures in the present to obtain returns in the future (for example, spending on machines and buildings now for production in future years). Therefore, when businesses need to borrow to finance their investments, they prefer loans with a long maturity (that is, low liquidity). On the other hand, individual savers (both households and firms) may have sudden, needs for cash, due to unforeseen expenditures. So they demand liquid accounts which permit them immediate access to their deposits (that is, they value short maturity deposit accounts). Under normal circumstances all goes fine since savers unpredictable needs for cash are unlikely to occur at the same time.Thus a bank can make loans over a long horizon, while keeping only relatively small amounts of cash on hand to pay any depositors that wish to make withdrawals.
Now, if all depositors attempt to withdraw their funds simultaneously, a bank will run out of money long before it is able to pay all the depositors. This means that even healthy banks are potentially vulnerable to panics.So what is the solution?
Insurance is a nice concept that comes into picture over here.Say the government was to insure your deposit, that is if the government was to promise that no matter what happened you will get your money back. Thus you now have no incentive to participate in the bank run. Now that all or atleast most depositors would think on the same lines thus almost wiping out the probablity of bank runs. What an elegant solution!! Are we missing something?
Well yes, though we have solved the original problem we have introduced a new one. Banks which took the risk now come to believe that they will not have to carry the full burden of losses. The government is there to take care in case things turn sour.Now will this make the bankers aggressive lenders? Will they lend to any Tom Dick and Harry (read sub prime borrowers ) who do not have enough resources to pay back the debt.I bet they will. We were trying to make our deposits safe but it turns out we have just made it all the more unsafe without realizing it. Any ideas to get out of this ? Keep posting.
Cheers !!
Tuesday, February 10, 2009
Feedback loops
Sometime back i visited a birthday party (that of my colleagues son) and was flooded with the memories of those good old childhood days. After all it has been ages since I went to such a birthday party.
One thing that I noticed in particular was the Hot-Cold game. As a kid I have played it a lot, in case you haven’t then here is a small description. You leave the room and your friend hides an object somewhere. Then you come back in and you try to find the object
while your friend gives you feedback. You head towards the sofa and look under the cushions and your friend says, ”cold.” You then move away from the sofa and head for the bookshelf. Now, your friend says, “warmer.” You keep searching around the bookshelf and eventually you find it. In other words, you use your friend’s feedback as
information about whether to continue on the path you’re on or whether to change course. So when does the game end? It ends when you find the object. Sure, you could
give up the search, but most of the time, that doesn’t happen. It may take a long time to find the object and your path depends on where you begin your search, but most of
the times, eventually, you do find the object.
Now let us take this model and apply it to the very concept of goal. Most of us have one goal or the other which when we don’t achieve, we see failure. Instead we should be seeking feedback. Every time you do not achieve what you wanted to, see it as a feedback that your friend gave you when he said “cold”. Don’t give up. There are others who persist. These strong souls jump right back and do the same thing again. Again apply the model. Will you keep looking around the sofa even after your friend said “cold”? Obviously not. Yet people do the same thing that results in frustration and anger. So from now on when you set a goal listen for feedback. Listen carefully and you will sure hear “hot” or “cold”. Adjust your next move accordingly and keep moving. There is no failure only feedback. Keep trying and you will sure reach your goals. :)
One thing that I noticed in particular was the Hot-Cold game. As a kid I have played it a lot, in case you haven’t then here is a small description. You leave the room and your friend hides an object somewhere. Then you come back in and you try to find the object
while your friend gives you feedback. You head towards the sofa and look under the cushions and your friend says, ”cold.” You then move away from the sofa and head for the bookshelf. Now, your friend says, “warmer.” You keep searching around the bookshelf and eventually you find it. In other words, you use your friend’s feedback as
information about whether to continue on the path you’re on or whether to change course. So when does the game end? It ends when you find the object. Sure, you could
give up the search, but most of the time, that doesn’t happen. It may take a long time to find the object and your path depends on where you begin your search, but most of
the times, eventually, you do find the object.
Now let us take this model and apply it to the very concept of goal. Most of us have one goal or the other which when we don’t achieve, we see failure. Instead we should be seeking feedback. Every time you do not achieve what you wanted to, see it as a feedback that your friend gave you when he said “cold”. Don’t give up. There are others who persist. These strong souls jump right back and do the same thing again. Again apply the model. Will you keep looking around the sofa even after your friend said “cold”? Obviously not. Yet people do the same thing that results in frustration and anger. So from now on when you set a goal listen for feedback. Listen carefully and you will sure hear “hot” or “cold”. Adjust your next move accordingly and keep moving. There is no failure only feedback. Keep trying and you will sure reach your goals. :)
Sunday, February 1, 2009
Puzzled!!!
I have a very interesting puzzle for you today.The most salient feature about this puzzle is the simplicity of it.You might be tempted to say that there is no serious or practical answer to it.But i warn you that it is not the case and you will definitely scratch your head once you figure out the answer in complete amazement.So here we go ...
Say one day you get a mail from some self proclaimed finance pundit extolling
his powers of predictions about the mad mad stock market.He gives a "tip" saying that a particular stock A will go up by say 10% in a month's time. You dismiss him as one more analyst,finance guru or nerd who have an opinion on all the matters of finance without having an ounce of knowledge.So a swift shift delete and the mail vanishes from your inbox.Now a month has passed and over a mug of beer a friend of yours tells you how he made 10% by buying stock A following the advice given in an email.A bulb glows somewhere at the back of your head.You wait for this unknown oracle to speak again.Soon another email registers itself in your inbox.It highlights its previous prediction and gives one more tip for this month.Though excited your skeptical self prevails and you dismiss the whole episode as a chance coincidence.Another month passes by and you again hear from this stranger. He emphasizes the corectness of his last two predictions and gives you one more tip for this month.You sure are amazed.A quick search and you verify the results of the last prediction.So you hear yourself saying "Well maybe this fellow really knows something.Lets check him out." You eagerly track the latest stock and soon see his prediction coming true.Voila!!. You have discovered a goldmine dude.You swear to yourself "I am not going to miss out on the next tip.Lets make some money."
Sure as if you are having a telepathy with this oracle and one more mail makes its way to your inbox.Another tip and you are all geared up.Like a smart investor you put a small amount of money on the stock this fellow has recommended and after a month find to your satisfaction that you it was bang on target.God is really happy with you son.But then all of us have heard "There are no free lunches."Are they??.So the next mail summarily says its time to put some serious money on the table to subscribe to his "tips".Afterall you would have made a small fortune by following his tips.So you agre and write him a cheque and wait for the next tip.There it comes.Already your eyes are green with greed.You have hit a jackpot.You are dreaming of that latest cell phone that you saw your boss carrying.You promise your girlfriend a diamond necklace soon.This is your chance,so you go full throttle on this one.Put all your money on this bet.Maybe borrow some from your friends and put it on this stock.
Now neither am i a sadist nor a hindi film script writer,but your good days have come to an end.This tip turns out to be wrong.Ahh,heart broken you feel like banging your head as well as of that fellow who lead you to this misfortune.In a contemplative mood you look up at the sky and ask GOD with disdain "Why me?".You try to reason with yourself, "I had tested this fellow.It was not that i followed his tips blindly.I waited for months and saw the results before i put any serious money." So what went wrong? Yes, that is the puzzle."What went wrong and how?"
Now you might say this was plain luck,maybe chance coincidence.But i warn you against these thoughts.There is a very logical pattern behind this whole scenario.Whack your heads,go get yourself a cup of coffee.Maybe you should light your favourite smoke before you wrestle with this puzzle.Do whaatever that needs to be done to get those creative juices flowing for there is a very logical answer.A simple yet such a powerful model that it fooled you so easily.
Well i will leave you with that.Will post the answer in a few days.Till then good luck to all of you.Keep posting your answers...
Saturday, January 17, 2009
Sleep E-mailing
Well all of us would have heard of sleep walking and also sleep talking, but how about sleep- emailing ? I had myself not heard about it until i read this
What could be the possible implications? What if Mr Raju claimed he was sleep fudging the numbers? The courts and the doctors would sure have a tough time!!!
Well the Satyam subject reminds me of Amul.These guys have always made some of the whackiest and interesting ads.Check out their take on Satyam.
And this spoof on the blocbuster Ghajini would sure make the ladies smile.Guys Beware !!!
What could be the possible implications? What if Mr Raju claimed he was sleep fudging the numbers? The courts and the doctors would sure have a tough time!!!
Well the Satyam subject reminds me of Amul.These guys have always made some of the whackiest and interesting ads.Check out their take on Satyam.
And this spoof on the blocbuster Ghajini would sure make the ladies smile.Guys Beware !!!
Friday, January 16, 2009
Frendz...
I have been living away from home for almost six years now and came across a wide spectrum of people. With some of them I have shared all my dilemmas, joys, fears and tears. They have made a lot of positive difference to my life and I have learnt some of the most valuable lessons from them. I would like to thank all of them and tell them that they are very special and important to me. I was planning to write this post for a long time but it was getting deferred for no reason what so ever. Finally a few events that I witnessed as we welcomed New Year made me feel that I might not get a chance to pen a thank you for all these wonderful friends who have made such a positive difference and decided to start typing.
1)Doctor: I have known this dude for almost 6 years now, someone whom I can trust completely. His smile is really infectious and can brighten up anyone’s day. To say that he is very popular with the opposite sex is to put things mildly. But for him I would have never learned what diplomacy is and how it can be positively used. Thanks for teaching, for showing me what music is and how one can get high on it, for sharing all those tough times and for everything.
2)Commando: Well our association has not been that long but in the brief time I have really come to know a very thinking, caring human being. Even at the risk of sounding mushy I would say I was really touched by what I saw of you when Vishnu was leaving. It’s just not possible to have a friend like him. A black belt and a fitness freak his love for bikes is second only to his friends. Buddy thanks for being there.
3)JD: Well they call him that for reasons I don’t wish to discuss here but he is the one who initiated me into long distance bike riding. The first follower of this blog, he has been with me in most of the crimes. How can I ever forget all the late night trips to MG with him. Dude come back to Bangalore and we will party harder this time around.
4)Rocky: Well he is definitely rocky style. Has a sense of humor that no one can beat. Easy going and fun loving I can just about talk anything to him and he listens it out, at times no matter how crazy.
5)Mota: One of the coolest heads that I have known. He has been a perfect sounding board for so many of my ideas now. Someone who has helped me see a completely different picture of things and situations in tight situations. Have seen some rough patches in the relationship with him but I feel that really helped in the longer run.
6)“Do you think I am dumb, deaf or dud?”: Have known her for long and also not known her for long. Like any association there are obviously good and not so good memories. But then I sure owe it to her for teaching me so many things, the list is long and positive and I am not being sarcastic. It has been great to have known you and shared all those moments.
7)Rulz: Well no rules for her but then she rules wherever she goes. I am yet to come across someone as honest and in the face as her. The fact that she can give a call and genuinely congratulate you and then say that she feels equally jealous is simply stunning. Thanks for being so honest.
1)Doctor: I have known this dude for almost 6 years now, someone whom I can trust completely. His smile is really infectious and can brighten up anyone’s day. To say that he is very popular with the opposite sex is to put things mildly. But for him I would have never learned what diplomacy is and how it can be positively used. Thanks for teaching, for showing me what music is and how one can get high on it, for sharing all those tough times and for everything.
2)Commando: Well our association has not been that long but in the brief time I have really come to know a very thinking, caring human being. Even at the risk of sounding mushy I would say I was really touched by what I saw of you when Vishnu was leaving. It’s just not possible to have a friend like him. A black belt and a fitness freak his love for bikes is second only to his friends. Buddy thanks for being there.
3)JD: Well they call him that for reasons I don’t wish to discuss here but he is the one who initiated me into long distance bike riding. The first follower of this blog, he has been with me in most of the crimes. How can I ever forget all the late night trips to MG with him. Dude come back to Bangalore and we will party harder this time around.
4)Rocky: Well he is definitely rocky style. Has a sense of humor that no one can beat. Easy going and fun loving I can just about talk anything to him and he listens it out, at times no matter how crazy.
5)Mota: One of the coolest heads that I have known. He has been a perfect sounding board for so many of my ideas now. Someone who has helped me see a completely different picture of things and situations in tight situations. Have seen some rough patches in the relationship with him but I feel that really helped in the longer run.
6)“Do you think I am dumb, deaf or dud?”: Have known her for long and also not known her for long. Like any association there are obviously good and not so good memories. But then I sure owe it to her for teaching me so many things, the list is long and positive and I am not being sarcastic. It has been great to have known you and shared all those moments.
7)Rulz: Well no rules for her but then she rules wherever she goes. I am yet to come across someone as honest and in the face as her. The fact that she can give a call and genuinely congratulate you and then say that she feels equally jealous is simply stunning. Thanks for being so honest.
Monday, January 12, 2009
Leadership
Engineering Technology and Management was on of my favourite subjects in college. In Kalpna mam we had a very thought provoking teacher. During one of the classes when we were about to start a chapter on leadership she first asked each one of us to state the qualities which each one of us felt a leader should possess. As usual I was sitting on the last bench and heard an array of answers before my turn came: honesty, punctuality, commitment, logical bent of mind etc.
I stood up and said vision. If the leader does not have a vision, if he does not know where he is leading his team or people to, what is the point in calling him a leader? Ah, pat came the reply from one of the first benchers, “That is not there in the book.” I could not help smiling at the naivety and the exam centric narrowness of that answer. Of late the economic slowdown and the Satyam saga has again made me think hard on this question.
So here we go…
1)Vision: I hold this as one of the most important parameter for any leader. A leader should have the vision to look into the future. He should have a bold dream. He must know where he is leading his people. It is only a visionary who can change the world for good, make it move forward. Our reach should surely exceed our grasp. Without a bold vision we might have never got our freedom, without bold vision slavery may have never been abolished. Jamshedji Tata and Dhirubhai Ambani like scores of other great business leaders had a vision which helped them succeed. But there is a danger in dreams that are easily conjured up at night. During the internet bubble a lot of money was wasted on unrealistic business dreams. Thus it is realism about the world that separates dreams from delusions. But then how can we distinguish one from the other? One thing that all of us need to understand is whether our dreams are really our own or are they commodity dreams lifted straight from the shelves of mass culture. Also the strength of that dream needs to be tested. Often we will have competing dreams. Are we ready to sacrifice one for the other? Will the dream pass the test of fire? Dreams that are fragile, need constant pumping up are in reality are delusions thus better avoided.
2)Prudence: After every bubble bursts pundits, finance gurus, journalists, anyone and everyone who has an opinion can’t stop emphasizing on this virtue. It is very necessary to keep ones head which gets all the more difficult in today’s era with so much of noise but very little information. Prudence is care, thoughtfulness or concern for a wide range of practical considerations. Even after all the preaching it is easy to overlook. The problem is that it smells of weakness. One may question the commitment and decision making powers of a leader. But then it’s far better to make the errors of omission rather than that of commission. If you have been an investor in stocks and thought of all your trades I believe you would have realized this for yourself. One of the best management tools is to break things in smaller parts and then solve them. Well it is good to simplify things but a case cannot be made for oversimplification. A leader needs to be aware of complex human realities and needs to factor them prudently in his decision making process. Value investors like Warren Buffet are the masters of this art and it sure has paid them handsomely. It is like riding a bike. When one is to go through a tight blind corner it makes sense to give it an extra second, make a mental map and look further into the corner before committing to it. That does not mean the rider is afraid or does not have faith in his skills. In an era of “Business at a speed of thought” it makes a lot of sense to sit back and reflect prudently at times.
3)Commitment and devotion: Leadership is a long hard journey which requires years of efforts, tenacity and courage. There are no shortcuts; infact there will be seductions and diversions. No guarantees of good luck are made. Thus without the commitment and devotion a leader with no amount of skill or charisma is bound to fail. Someone cleverly said “Love what you do and do what you love.” Most successful leaders work very hard and have had to make huge personal sacrifices. With the emphasis on a better work life balance does this view of very hard working leaders make them a sad poster boy with the caption “No one ever died wishing to have spent more time at office” I firmly believe NOT. These leaders are not work machines on auto pilot. They do understand their choices and options. But more importantly they have a deep accountability towards themselves. A leader does not endure the hard tasks that come in his way, rather he embraces them and believes that they make his life complete. I think it is the only thing that can describe why so many people in all walks of life go that extra mile without being paid or honored for it. British explorer Sir Ernest Shackeleton is a very good example. He stunned the world by leading his crew back from a disastrous effort to cross Antartica on foot. Along with his men he spent nearly five hundred days making their way to safety through perpetual darkness of the polar winter. In the face of danger Shackeleton was a great leader but on land and in normal times he was a failure. Between his expeditions he was relentless and unhappy. All his business ventures failed. Great leaders find the work in which they thrive elsewhere they are useless. Also successful leaders do not take vows of poverty, they do expect to be rewarded fairly but this is not what drives them. Shareholder value is important but it is just a condition. One does not pour ones life into work because of his obligations to the role. One does that because of what it means to him. To keep the powers these leaders enjoy one needs to have firm checks and balances in place. There should be transparency and sound governance which good leaders respect. But this is not what they work so hard for. Only because they are committed to their work and are accountable to themselves they bring that extra sensitivity, imagination and wisdom.
4)Ability to inspire and make others struggle: The true function of leadership is to create more leaders and not more followers. Successful leaders do not give black and white solutions to their people. They inspire them, ask them tough questions and unsettle them. One of the fine examples of this art in practice is exhibited by Thomas More. He viewed leadership as vigorous, provocative form of teaching. A true leader knows how to get under the skin of his people and engaging them. He sometimes provokes them, sometimes frustrates them and sometimes makes them laugh. . Great leaders understand that people don’t like being preached or scolded. An African proverb sums it succinctly, “When I pray for bread and get it, I think about bread and forget God. When I pray for bread and don’t get it, I think of God.” Though leadership is a serious business knack for humor surely helps a leader a long way in this task. But it shouldn’t be confused with jokes. It should pause as well as laugh, making the listeners grasp the significance of what was said.
Well, that is enough for today. I will continue this post later, when I have got some other thoughts in my head a little more ordered. Do let me know your views and opinions.
I stood up and said vision. If the leader does not have a vision, if he does not know where he is leading his team or people to, what is the point in calling him a leader? Ah, pat came the reply from one of the first benchers, “That is not there in the book.” I could not help smiling at the naivety and the exam centric narrowness of that answer. Of late the economic slowdown and the Satyam saga has again made me think hard on this question.
So here we go…
1)Vision: I hold this as one of the most important parameter for any leader. A leader should have the vision to look into the future. He should have a bold dream. He must know where he is leading his people. It is only a visionary who can change the world for good, make it move forward. Our reach should surely exceed our grasp. Without a bold vision we might have never got our freedom, without bold vision slavery may have never been abolished. Jamshedji Tata and Dhirubhai Ambani like scores of other great business leaders had a vision which helped them succeed. But there is a danger in dreams that are easily conjured up at night. During the internet bubble a lot of money was wasted on unrealistic business dreams. Thus it is realism about the world that separates dreams from delusions. But then how can we distinguish one from the other? One thing that all of us need to understand is whether our dreams are really our own or are they commodity dreams lifted straight from the shelves of mass culture. Also the strength of that dream needs to be tested. Often we will have competing dreams. Are we ready to sacrifice one for the other? Will the dream pass the test of fire? Dreams that are fragile, need constant pumping up are in reality are delusions thus better avoided.
2)Prudence: After every bubble bursts pundits, finance gurus, journalists, anyone and everyone who has an opinion can’t stop emphasizing on this virtue. It is very necessary to keep ones head which gets all the more difficult in today’s era with so much of noise but very little information. Prudence is care, thoughtfulness or concern for a wide range of practical considerations. Even after all the preaching it is easy to overlook. The problem is that it smells of weakness. One may question the commitment and decision making powers of a leader. But then it’s far better to make the errors of omission rather than that of commission. If you have been an investor in stocks and thought of all your trades I believe you would have realized this for yourself. One of the best management tools is to break things in smaller parts and then solve them. Well it is good to simplify things but a case cannot be made for oversimplification. A leader needs to be aware of complex human realities and needs to factor them prudently in his decision making process. Value investors like Warren Buffet are the masters of this art and it sure has paid them handsomely. It is like riding a bike. When one is to go through a tight blind corner it makes sense to give it an extra second, make a mental map and look further into the corner before committing to it. That does not mean the rider is afraid or does not have faith in his skills. In an era of “Business at a speed of thought” it makes a lot of sense to sit back and reflect prudently at times.
3)Commitment and devotion: Leadership is a long hard journey which requires years of efforts, tenacity and courage. There are no shortcuts; infact there will be seductions and diversions. No guarantees of good luck are made. Thus without the commitment and devotion a leader with no amount of skill or charisma is bound to fail. Someone cleverly said “Love what you do and do what you love.” Most successful leaders work very hard and have had to make huge personal sacrifices. With the emphasis on a better work life balance does this view of very hard working leaders make them a sad poster boy with the caption “No one ever died wishing to have spent more time at office” I firmly believe NOT. These leaders are not work machines on auto pilot. They do understand their choices and options. But more importantly they have a deep accountability towards themselves. A leader does not endure the hard tasks that come in his way, rather he embraces them and believes that they make his life complete. I think it is the only thing that can describe why so many people in all walks of life go that extra mile without being paid or honored for it. British explorer Sir Ernest Shackeleton is a very good example. He stunned the world by leading his crew back from a disastrous effort to cross Antartica on foot. Along with his men he spent nearly five hundred days making their way to safety through perpetual darkness of the polar winter. In the face of danger Shackeleton was a great leader but on land and in normal times he was a failure. Between his expeditions he was relentless and unhappy. All his business ventures failed. Great leaders find the work in which they thrive elsewhere they are useless. Also successful leaders do not take vows of poverty, they do expect to be rewarded fairly but this is not what drives them. Shareholder value is important but it is just a condition. One does not pour ones life into work because of his obligations to the role. One does that because of what it means to him. To keep the powers these leaders enjoy one needs to have firm checks and balances in place. There should be transparency and sound governance which good leaders respect. But this is not what they work so hard for. Only because they are committed to their work and are accountable to themselves they bring that extra sensitivity, imagination and wisdom.
4)Ability to inspire and make others struggle: The true function of leadership is to create more leaders and not more followers. Successful leaders do not give black and white solutions to their people. They inspire them, ask them tough questions and unsettle them. One of the fine examples of this art in practice is exhibited by Thomas More. He viewed leadership as vigorous, provocative form of teaching. A true leader knows how to get under the skin of his people and engaging them. He sometimes provokes them, sometimes frustrates them and sometimes makes them laugh. . Great leaders understand that people don’t like being preached or scolded. An African proverb sums it succinctly, “When I pray for bread and get it, I think about bread and forget God. When I pray for bread and don’t get it, I think of God.” Though leadership is a serious business knack for humor surely helps a leader a long way in this task. But it shouldn’t be confused with jokes. It should pause as well as laugh, making the listeners grasp the significance of what was said.
Well, that is enough for today. I will continue this post later, when I have got some other thoughts in my head a little more ordered. Do let me know your views and opinions.
Thursday, November 27, 2008
The Latest China Report
If you are an economics buff then don't forget to read this latest World Bank China Report
Also here is ATLAS SHRUGGED UPDATED FOR THE CURRENT FINANCIAL CRISIS
Cheers and Happy reading !!!
Also here is ATLAS SHRUGGED UPDATED FOR THE CURRENT FINANCIAL CRISIS
Cheers and Happy reading !!!
Saturday, November 22, 2008
Happily Single
A cloudy evening and i was standing in the PESIT campus few years back ( Back then in the first year of engineering ).One of the guys then remarked one needs three things to enjoy in bangalore, namely ,money,friends, a girlfriend.Though not in the same order.I begged to differ then and i hold the views now.A Lot has changed between then and now.
So when someone sometime back said i need to get a girl i felt a little irked.Its not that i actively keep them at bay or actively run after a few.Its just that if it happens it happens.More than that i see a lot of upside of not being in a relationship( atleast as of now )All those guys who lament about not having a girl in their life would readily benefit by reading this post.
So here we go advantages of not having a girlfriend :
1)For chocoholics ( maybe that term does not exist in the standard dictionary yet but then i see it coming ) like me you can enjoy the complete bar of choclate without having to share it with anyone.What a blissful satisfaction that is.As for alcoholics no need to worry about waking up by 12 on a sunday morning so that you don't miss the lunch date.
2)You don't have to suffer movies like Ek choti si love story and Leela in a single day.No need to miss your favourite Bond flick.No sobbing sounds from the person sitting next to you in the theatre.
3)You don't have to answer that question " Am i looking fat? "
4)You don't have to understand the differences between mauve and peach.Anything that looks decent and is ironed is fine for office, as for weekends almost anything is fine.
5)I forget my own birthday ( Believe me it has happend with me once )forget about remembering hers.How many birthdays do you remember ?
6)How could i miss this one , phone conversations are over in 30 secs flat without a girlfriend.One need not suffer forced insomnia because someone at the other end of the phone keeps on rambling.How would you feel if you had to suffer the following conversation almost everyday?
How was ur day ?
Oh it was great, i went to work, had lunch andcame back.I dreamt about you with open eyes all day long and just can't get you of my mind
So sweet !!!
hmmm ( Damn it i don't know why they use the same adjectives sweet and cute for you as well as the dog next door )
So what did you have for lunch ?
Roti,sabji,dal and rice.
Same same , i also had that.So nice na we had the same thing.
Yes so nice ( As if i give a damn, i just had something because i had to have something to fill my stomach and get back to work)
U know what i saw a new dress today, it was similar to the one we saw last weekend in forum.But this one is a baby pink the exact shade that i wanted.
Thats great ( As if i understand the difference between baby pink and adult pink )
So when r u buying me that? After all our anniversary is approaching ...
he he , is it? ( i don't know what day of the month it is today )
And then this goes on and on for hours before you drop dead with sleep.
7)You need not worry about whether u r shaved or not (atleast not on the weekend )If you are a smoker then no worries about smelling bad.
8)Two pairs of shoes are more than enough.You can have food at the roadside dhaba or at ebony whereever you wish.Looking for eye tonic is not a sin!!!
So to all those who rave and rant about being single especially guys, it is not all that bad.Please get a life get a hobby.If it has to happen then it will.Life is not sad or boring or any of those dumb adjectives without being in a relationship.
So when someone sometime back said i need to get a girl i felt a little irked.Its not that i actively keep them at bay or actively run after a few.Its just that if it happens it happens.More than that i see a lot of upside of not being in a relationship( atleast as of now )All those guys who lament about not having a girl in their life would readily benefit by reading this post.
So here we go advantages of not having a girlfriend :
1)For chocoholics ( maybe that term does not exist in the standard dictionary yet but then i see it coming ) like me you can enjoy the complete bar of choclate without having to share it with anyone.What a blissful satisfaction that is.As for alcoholics no need to worry about waking up by 12 on a sunday morning so that you don't miss the lunch date.
2)You don't have to suffer movies like Ek choti si love story and Leela in a single day.No need to miss your favourite Bond flick.No sobbing sounds from the person sitting next to you in the theatre.
3)You don't have to answer that question " Am i looking fat? "
4)You don't have to understand the differences between mauve and peach.Anything that looks decent and is ironed is fine for office, as for weekends almost anything is fine.
5)I forget my own birthday ( Believe me it has happend with me once )forget about remembering hers.How many birthdays do you remember ?
6)How could i miss this one , phone conversations are over in 30 secs flat without a girlfriend.One need not suffer forced insomnia because someone at the other end of the phone keeps on rambling.How would you feel if you had to suffer the following conversation almost everyday?
How was ur day ?
Oh it was great, i went to work, had lunch andcame back.I dreamt about you with open eyes all day long and just can't get you of my mind
So sweet !!!
hmmm ( Damn it i don't know why they use the same adjectives sweet and cute for you as well as the dog next door )
So what did you have for lunch ?
Roti,sabji,dal and rice.
Same same , i also had that.So nice na we had the same thing.
Yes so nice ( As if i give a damn, i just had something because i had to have something to fill my stomach and get back to work)
U know what i saw a new dress today, it was similar to the one we saw last weekend in forum.But this one is a baby pink the exact shade that i wanted.
Thats great ( As if i understand the difference between baby pink and adult pink )
So when r u buying me that? After all our anniversary is approaching ...
he he , is it? ( i don't know what day of the month it is today )
And then this goes on and on for hours before you drop dead with sleep.
7)You need not worry about whether u r shaved or not (atleast not on the weekend )If you are a smoker then no worries about smelling bad.
8)Two pairs of shoes are more than enough.You can have food at the roadside dhaba or at ebony whereever you wish.Looking for eye tonic is not a sin!!!
So to all those who rave and rant about being single especially guys, it is not all that bad.Please get a life get a hobby.If it has to happen then it will.Life is not sad or boring or any of those dumb adjectives without being in a relationship.
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