meet people who happened to know about my book, I am invariably asked set of questions.
a)How do you get time? What makes you
b)What company can be bought now? What
share can I buy now?
the first question is relatively easier. Second one is as embarrassing as the
queries involving how many copies are sold and how much royalty I earn etc. These
questions come from people who are aware of the fact that I am not into the
stock broking business and that writing is not my full-time profession. It is
very difficult to say no to these questions, read requests, seeking stock recommendations.
It takes a lot of politeness and courage to encourage them to do their own
analysis and stock selection.
//We discussed about the structure and functioning of the stockmarket in previous chapters. They can be compared with the description, “Thereare two sets of three sticks are fixed at 22 feet distance. You have a pair ofbatsmen in the middle, a bowler bowling at them, a wicket keeper and then ninemore fielders” that introduces the basics of the game of cricket. Everything wehad gone through so far is nothing but a similar description about theinvestment game – kind of ‘know what’.
Which deliveries to defend? Which ones to go after? Whichone to leave to the keeper? – Intricacies like these are yet to discussed. Nextsix chapters should serve this purpose as they aim to present such techniquesand approaches. One should develop his own rules and selection criteria beforepouring in his money into the stocks. That is what we are going to share, learnand unlearn, if needed. In short, we can term these as ‘know how’.//
these only help in understanding the rules of the game and various shots such
as cover drives, hook shots, inside out shots, helicopter shots, reverse sweeps
etc. I do recommend and encourage friends to read this book, for that matter
any other good investment book, before trying their fortunes in the marketplace.
I also personally vouch to refund the money if they are not happy with the
an idea about ‘know what’ and ‘know how’in Cricket does not make a person the next
Sachin Tendulkar, we don’t have such limitations in share market. No one
selects or drops us from team unless we chose to do so.
Governor Subbarao delivered his last public speech in his capacity as the head
of India’s central bank. It will go down in the history as one of the important
speeches. It sounded much like his appraisal discussion, in front of a large audience J
finishing touch was fabulous:
thought on this issue of autonomy and accountability. There has been a lot of
media coverage on policy differences between the government and the Reserve
Bank. Gerard Schroeder, the former German Chancellor, once said, “I am often
frustrated by the the Bundesbank. But thank God, it exists.” I do hope Finance
Minister Chidambaram will one day say, “I am often frustrated by the Reserve
Bank, so frustrated that I want to go for a walk, even if I have to walk alone.
But thank God, the Reserve Bank exists.”
quote a section of his speech related to current problem about CAD and exchange
I began my speech with the old Chinese saying - “May you live in interesting
times.” So, as inflation began to moderate yielding space for monetary easing
to support growth, we got caught up with external sector strains over the last two
years and a sharp depreciation of the rupee over the last three months. There
has been dismay about the ferocity of depreciation; there has also been a
growing tendency to attribute all of this to the ‘tapering’ of its ultra easy
monetary policy by the US Fed.
Such a diagnosis, I believe, is misleading.
Admittedly, the speed and timing of the rupee depreciation have been due to the
markets factoring in ‘tapering’ by the US Fed, but we will go astray both in
the diagnosis and remedy, if we do not acknowledge that the root cause of the
problem is domestic structural factors.
What are these structural factors? At its root,
the problem is that we have been running a current account deficit (CAD) well
above the sustainable level for three years in a row, and possibly for a fourth
year this year. We were able to finance the CAD because of the easy liquidity
in the global system. Had we used the breathing time that this gave us to
address the structural factors and brought the CAD down to its sustainable
level, we would have been able to withstand the ‘taper’. In the event, we did
not. We therefore made ourselves vulnerable to sudden stop and exit of capital
flows driven by global sentiment; the eventual cost of adjustment too went up
But what drives the CAD so high? Basic economics
tells us that the CAD rises when aggregate demand exceeds aggregate supply.
There is an argument that this logic is not applicable to us in the current
juncture given the sharp slow down in growth. But we need to recognize that the
CAD can increase substantially even in a low growth environment if supply
constraints impact both growth and external trade as has been the case with us.
The only lasting solution to our external sector
problem is to reduce the CAD to its sustainable level and to finance the
reduced CAD through stable, and to the extent possible, non-debt flows.
Reducing the CAD requires structural solutions - RBI has very little policy
space or instruments to deliver the needed structural solution. They fall
within the ambit of the government. Structural adjustment will also take time.
In the interim, we need to stabilize the market volatility, a task that falls
within the domain of the Reserve Bank.
It is the avowed policy of the Reserve Bank not to
target a level of exchange rate and we have stayed true to that policy. Our
efforts over the last few years, particularly the last three months, have been
to smoothen volatility as the exchange rate adjusts to its market determined
level so as to make the near-term cost of adjustment less onerous for firms,
households and banks.
There has been criticism that the Reserve Bank’s
policy measures have been confusing and betray a lack of resolve to curb
exchange rate volatility. Let me first of all reiterate that our commitment to
curbing volatility in the exchange rate is total and unequivocal. I admit that
we could have communicated the rationale of our measures more effectively.
But our actions were consistent. Our capital
account measures were aimed at encouraging inflows and discouraging outflows.
Also, we tightened liquidity at the short end to raise the cost of short-term
money so as to curb volatility. At the same time, we wanted to inhibit the
transmission of the interest rate signal from the short end to the long end as
that would hurt flow of credit to the productive sector of the economy. So, we
instituted an Indian version of “operation twist”.
I must reiterate here that it is not the policy of
the Reserve Bank to resort to capital controls or reverse the direction of
capital account liberalization. Notably, the measures that we took did not
restrict inflows or outflows by non-residents.
If you are a software professional deputed to an onsite assignment
anywhere around the globe, you are happiest person in the world today. One GBP
is almost equal to Rs 100 now. Anyone who is making money abroad or in the
business of exports have reasons to cheer. But for others the situation is
gloomy, as the media projects it.
Firstly the RBI and the union government of India
are the most concerned parties - that too at a time when the country is
preparing herself for the next general elections. Money exists India at a
faster pace especially from the debt market. To quote from capital market: “Since June 2013 till 7
August 2013, FIIs have sold debt worth US$ 8.4 billion. Between January 2013
and May 2013, they had invested US$ 7.7 billion in the debt market. “
India is the worst affected country due to
increase in the lending rates from the United States. Debt investors have been
taking their cash back to inject into the greenback for it provided safety and
cofort feeling. Despite India offers higher returns, exchange rate risk and
other political cum policy risks are to be discounted. In order to keep foreign
money intact in India, rates should be kept high which directly affects our
already bleeding economy. Many sector will feel the heat.
On the stock market, it is unlikely to see hot
and quick money to get be pumped in because risk free return from the banks
seem more attractive than the uncertainties associated with the stock market. Many
scripts trading on Indian bourses are expected to languish. Perhaps it may be a
bad time for Indian Rupee and Indian economy. But for seasoned stock market
investors many stocks are available at reasonable price. It is perhaps a good
time to hit some boundaries as prescribed by Rahul Dravid school of investment
as articulated in the Stock of Science Market Investment.
wants to be touched, felt and teased. She wants to be heard but not judged. She
wants to you listen to her but don’t expect you offering solution to her
problems. She wants you to pay attention to her – pay attention to details. She
wants to complement on her looks, her makeup, her dress, her body spray etc.
She wants you to make her feel beautiful. She wants to be valued and cherished. She
wants you to say that you are lucky. She wants you to laugh at the silly jokes
of her, even though they are not really funny. She wants you to demonstrate
trust. She wants to feel secured in your presence. She wants to sleep without
any worries when she leans on your shoulder. She wants you to take solace from
her. She does not want you to keep any secrets unknown to her. She does not
want you to talk bad about her parents and family, while she is not governed by
the same rule. She wants to exchange little hugs and kisses every now and then.
Woman wants your closeness to arouse her sexual feelings towards you whereas
you want sex to get closer. She wants you get into arguments, even if it is for
fun sake, but she wants to win that by making you accept that she is right. You
should not concede for her, but you should be convinced despite being right. She
wants you to be interesting. She wants you to make her laugh. She wants your
presence to make her happy. She wants you to play pranks with her. She wants
you to know how to please her on the bed (or on the sofa or under the shower). From Borrowed Girlfriend
Senanayake is not as close to us, the upper middle class Indians, as Hina Rabbani Khar
of Pakistan or Carla Bruni of France. Remarks made at her in Sri Lankan parliament by a
Minister in Mahinda Rajapakse’s Government last year has found a place in top
10 sexist moments in politics. Rosy is a former Miss World.
Transport minister Kumara Welgama said he was
"choked" by her beauty. "I am so happy to answer a question by
a beauty queen," he said. "You are such a charming woman. I
cannot explain my feelings here. But if you meet me outside Parliament, I will
describe them … My thoughts are running riot … I don't want to reveal
[them] to the public."
“When a politician says yes, he means maybe, when he says
maybe, he means no, and if he says no, he's not a politician. When a lady
says no, she means maybe, when she says maybe, she means yes, and if she
says yes, she's not a lady."
The movie Enemy of the State is about the National Security Agency of
the United States. The recent news item indicates that the personal details of
people around the world from google, facebook and the likes are accessed by NSA’s
spying program PRISM that has direct access to customer personal details. CEOs
of Google and Facebook have denied the charge.
The US agencies, any intelligence agency for
that matter, is capable of accessing data from the servers lying in that
country. There is no wonder if the news is true. In fact it should be shocking
only if it is found to be a false allegation. But what makes it interesting is
the ruthlessness and efficiency with which US is able to achieve it. On the
same notes, countries such as India are struggling with the data collection of
its citizen and the ambitious program of adhar
card is attempting to bridge the gap.
Perhaps facebook (and therefore the US surveillance
agencies) have more personal data of Indian citizens than few government agencies
in India. This is perfectly vouched by Barack Obama, ‘"You can't have a hundred percent security and also then have a
hundred percent privacy and zero inconvenience. You know, we're going to have
to make some choices as a society.’
Street dogs are very astute. They reveal enough facts or
behaviours worth many PhDs. If an unfamiliar street dog crosses the border and
enters into different territory, resident dogs of that territory furiously bark
and chase that poor guy away - back to his street again. Interestingly, these
brave soldiers turn submissive if they happen to visit areas outside their
border. As a whole, street dogs precisely know their circle of control.
Majority of the stock
investors don’t possess this obvious quality from dogs. Investors should try to
assess their strengths in terms of cognizance about a particular industry or
companies, and more important they should be able to tell the areas they are
not aware of. For example, you might understand the business dynamics of steel
industry. But pharmaceutical companies operate under different environment
where you cannot deploy same approach. As a whole, we should define an
imaginary ‘circle of competence’ and precisely know its boundaries.
Under no circumstance, you should dare to cross the periphery of this circle
and get bitten strange dogs. If you really need to explore new horizons outside
your circle, you should work very hard in acquiring necessary knowledge and
courage to expand this border. But for that, I repeat, you should work very
From the biography of Imran, the cricketer turned politician:
Just before the World Cup in October 1987, when I was captaining Pakistan, we played a warm-up match against the West Indies at the Gaddafi Stadium in Lahore. Moments before the match, the secretary of the cricket board, Shahid Rafi, informed me that the Chief Minister of Punjab, Nawaz Sharif, was going to captain the team that day. I was taken aback but then assumed that he would have a non-playing role and waned to watch the match from the dressing room. Therefore I was shocked to see him walk out to toss the coin with Viv Richards, the West Indies captain, dressed in his cricket whites; but there was a bigger shock to come. He won the toss, and returned to the dressing-room and started putting on his pads. None of the team could believe what we were seeing; he was going to open the innings where with Mudassar Nazar against the West Indies, one of the greatest fast-bowling attacks in cricket history. Nazar wore batting pads, a thigh pad, chest pad, an arm guard, a helmet and reinforced batting gloves, while Sharif simply had his batting pads, a floppy hat and a smile For those who are not conversant with cricket history, it is important to know that this was a fast-bowling attack not seen before or since in the cricketing world, such was West Indies' blistering place, with four bowlers bowling above 90 mph. It was the sort of attack that had destroyed the careers of many a talented batsman. International batsmen, professional cricketers would have sleepless nights when they were due to face the West Indies. And here was Nawaz Sharif, who had no experience of playing at this level of cricket, walking out unprotected, to face this deadly attack. Clearly he would not have the reflexes to defend himself if a short ball was aimed at his body, so there was a risk of a serious injury. I quickly enquired if there was an ambulance ready. As we watched the ball - by a six feet, six inch West Indian fast bowler - hit the wicketkeeper's gloves even before Sharif could lift his bat, the team sighed with relief that it wasn't straight. Mercifully for Sharif, the second ball was straight at the stumps, and before he could move, his stumps lay shattered. For those who don't understand cricket, Sharif was trying the equivalent in academic terms of a child, having just finished primary school, attempting to write a PhD thesis.
Bollineni Hillside is a township proposed in 92 acres in
Nookampalayam village, 5 km from Sholinganallur in Chennai. It is promoted by Bollineni
Krishnaiah, a politician from Andra Pradesh. In the 92 acres, only 50% is
getting constructed now. In this first half, known as phase I, about 1300
houses are planned. This land and building plans are said to have been owned by
a famous Tamil film personality, who subsequently should have sold it to Krishnaiah’s
company, known as BSCPL.
Back in 2009, BSCPL advertised that the township is situated
adjacent to a crystal clear lake. They also promised to build 7-storied clubhouse
with tennis court, half Olympic sized swimming pool and many other amenities,
which would easily fill 7-8 lines. RO water was also promised.
The owners who bought their dwelling units allege that they are
in a fix now. The builder delayed the delivery of flats and villas. In one
example, a software engineer booked a flat in October 2009 and the builder promised
to deliver it in December 2010. But his key was given to him only in February
2011. The residents allege that every individual has a story to share.
The residents were hoping that the builder will honor his commitment
one day. The clubhouse, which was advertised way back in 2009, had not taken
any signs of coming up. The residents claims BSCPL had cheated them, by luring
them with some false promise with something in 2009 while it was yet to be
approved in 2013. The builder had advertised their ‘clubhouse’ as a prime
facility for many months. After sufficient number of houses were sold, they
stopped highlighting the clubhouse and continued to advertise ‘join and enjoy
the luxury that 500 families already enjoy’.
The builder claims more than 500 residents started occupying
their units. On top of failed deliverables and false promises, many of these
500 + residents are in a state of shock due to exorbitant maintenance bill that
BSCPL started charging them. There are people who are charged Rs 5,000 as monthly
maintenance – akin to paying rent for his own house. One residents has
confirmed that his water bill alone is Rs 880 per month. (His canned water
expenses are extra because of BSCPL’s cheated him by not building RO water
The builder claims he is buying water in tanker lorries,
despite Nookmpalayam area being surrounded by paddy fields and a hill. People
allege BSCPL is using the water for its ensuing construction work. Some people
have taken the matter to consumer court and one individual is said to have taken
criminal case route for cheating. The court is understood to have asked the
police to file FIR on the builder.
As a climax, on 20th April, a person responsible
for recharging piped cooking gas at the Facility Management Office of the
builder assaulted a resident breaking his nose and left arm. The resident
received multiple fractures and recovering from the bone injury. This atrocious
activity has angered many home owners at Bollineni Hillside.
To top up the prevailing dissatisfaction level with current
customers and negative news floating around, few builders have come up with
projects at Perumbakkam – just adjacent to Sholinganallur. Considerable units in Bolllineni Hillside are not sold and what is said to be 'phase II' of this proposed 92 acre township.
Now, you know why we see TV commercials for Bollineni
Hillside showing up in Vijay TV for the past few days !!
Though the Sri Lankan Tamils began the struggle for their
rights in Sinhala dominated Sri Lanka well before Prabhakaran was born,
Prabhakaran’s life is inextricably linked with the struggle. This book provides
an account of the life of LTTE chief Prabhakaran, who led an armed struggle
against the Sri Lankan state to create Eelam, a separate nation for the Sri
The book on Prabhakaran’s
biography begins from his childhood days in the aftermath of India’s and Sri
Lanka’s independence from Britain. The Sri Lankan Tamils were following
Gandhi’s non-violent methods to fight for their rights as citizens of Sri
Lanka. Prabhakaran, an ardent fan of Bhagat Singh and Subhash Chandra Bose,
felt that non-violence would not work against a Sinhala dominated government
and began experimenting with violent acts against the Government to send a
message. His initial success became the nucleus for the formation of LTTE,
which became the quintessential guerrilla organization fighting the State.
The book details
various incidents of Prabhakaran’s life including terror attacks, assassination
of politicians, heads of States and militant leaders; India’s role in the Sri
Lankan ethnic conflict; Indian Peace Keeping Force in Sri Lanka; the Eelam
wars, negotiations, betrayals and elections; through to his killing in May 2009.
I have no hesitation in admitting that I am a stammerer. Of course,
there is a no denying that it is an impediment, embarrassment and a block in
freely mixing up with people. It is a like serving a prison sentence for a
crime someone did not commit. Very recently it has dawned on me that it is
curable and it is gradually getting overcome.
Everyone of us might have come across a person, be it a
friend, classmate, colleague, neighbor, known contact or a popular person, who stammers. Many people think that it is a
disease. Some suggest to take medication to get rid of it. If you know anyone
who is suffering from this speech impediment, just tell him or her that it no a
disease or disorder.
Indian movies always ridicule stammerer, next only to
transgender. If you stammer – don’t worry. You are not alone. It is estimated
that almost 1 % of the population has this problem. Mostly men have this
problem – men account for 80% stammerers.
Here are some famous personalities who stammered.
Actress Marilyn Monroe, British emperor King George VI and Prime
Minister Winston Churchill who led UK during second world war, film star Hrithik
Roshan, first communist Chief Minister E. M. S. Namboodiripad, US president Theodore
Roosevelt, Charles Darwin who presented evolution theory, great English writer Somerset
Maugham, scientist Isaac Newton, French emperor Napoleon, Greek philosopher
Stammering usually occurs when speech muscles and organs
become stiff. This happens when the person becomes tensed and filled with
anxiety. You might observe that the same person who stammers would sing
flawlessly. Usually stammerer are fast thinkers. Their speech system does not match
up their speed in thought process . They think very fast and try to deliver it
at the same pace.
Stammering is after all a bad habit strongly programmed in mind.
The happy news is, habits can be learnt and unlearnt – with effort and
consistent focus and self direction.
If you are looking for stammering cure, here are some suggestions to overcome stammering
Talk slowing – reduce the speed
Do slow reading practice
Never user techniques to hide your problem (such using
alternate words, giving a pause)
Always say your name while speaking on the phone
Hum a song or try to drink a glass of water when you are
Take a deep breath before talking
Try to listen to your voice while speaking
Ask your friends and family members to stop you whenever your
speed increases or you talk tensed
These are only a few suggestions. Most important is to
develop a self direction that you can overcome this problem. You may also join
some stammering cure center, where all these therapies are conducted. Please approach The Indian Stammering Association(TISA) for any further information.
Dhanushkodi was a coastal town in Rameswaram island, hosting a railway station, a pier that ran ferry across to Sri Lanka. Now most of it is under the sea and the rest is only seen as a collection sand dunes, due to the total damage caused by 1964 cyclone. In 2004 December tsunami, the sea around Dhanushkodi receded about 500 metres from the coastline exposing the submerged part of the township for a while.
Some picture from Dhanushkodi, the tip of India & mid point between mainland India and Sri Lanka..