Saturday, February 27, 2010
Pronab Da zindabad!!
Tuesday, February 23, 2010
Kenyes versus ... (err... who is on the other side?)
Monday, February 22, 2010
Increase GDP - buy alarm time pieces!!
Saturday, February 06, 2010
Addendum
Friday, February 05, 2010
Ishiqiya
Thursday, February 04, 2010
What do bankers really do to earn their millions???
Thursday, January 28, 2010
Power and Beauty
Friday, January 15, 2010
Unadulterated BS
Wednesday, January 06, 2010
Idiot? Certainly not...
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BANGALORE: Venkataraman Ramakrishnan won the Nobel prize in Chemistry in 2009 but decades ago he failed to clear entrance tests for both the IITs At a public lecture at the Indian Institute of Science campus here, he recalled his journey from Baroda where he went to school and college before moving to Ohio University for his Ph.D. He shifted to Baroda from Chidambaram in Tamil Nadu when he was three. He noted that he appeared for the IIT entrance test but "did not get a single seat in IIT". "My parents were somewhat old-fashioned; they did not believe in coaching classes (in preparation for entrance test)," Ramakrishnan told a packed J N Tata Auditorium, where many could not even enter because it was crowded. They (his parents) thought coaching classes were "nonsense". He also appeared in the entrance test for a seat in the reputed Christian Medical College in Vellore in Tamil Nadu but was unsuccessful. Giving an explanation, he said that those days, there were only a small number of seats for men. The (really sad) takeaways I have after reading this stupendous article is
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Sunday, January 03, 2010
Thoughts in a New Year
Monday, December 21, 2009
Tis the season to be merry...
Thursday, December 17, 2009
What does this mean?

Thursday, December 03, 2009
The biggest paycheck in history
The bursting of the housing bubble cost the American economy trillions of dollars and brought Wall Street to its knees. But a few savvy investors, most notably hedge fund manager John Paulson, made fortunes betting against housing and related securities.
In The Greatest Trade Ever, Wall Street Journal columnist Gregory Zuckerman details how Paulson pocketed $6 billion as his firm made $20 billion betting against the boom from mid-2006 through early 2009. These returns included $4 billion for Paulson personally in 2007, which Zuckerman describes as the single-most lucrative payout in history.
While few, if any, will ever approach Paulson's staggering accumulation of wealth, Zuckerman says there are some timeless lessons for the rest of us, including:
Have the courage of your convictions: Paulson stuck by his thesis even as the trades didn't initially pay off in 2006, myriad housing "experts" told him he was on the road to ruin, and seemingly all of Wall Street's machinery was working against him. And when the bets starting paying off in 2007, Paulson didn't book profits and run as many advised -- and some clients begged. After shorting subprime in 2007, Paulson effectively doubled down in 2008, shifting some of his firepower to bets against Fannie Mae, Freddie Mac and Wall Street firms knee-deep in the MBS market.
See the forest for the trees: As an outsider to the mortgage world, Paulson was able to see the carnage coming that those on the inside missed. The ability to think independently and see beyond what the "experts" are saying is critical for individual investors because more financial bubbles are likely, Zuckerman says.Hindsight being 20-20, it's clear the housing market was a bubble and Paulson's strategy of buying cheap insurance against subprime mortgages - in the form of credit default swaps - seems like a no-brainer.
But as Zuckerman details in the book, getting the trade right wasn't easy; others tried but failed to match Paulson's stellar returns because they were either too early, had the wrong trading strategy or didn't see the bet through to its ultimate conclusion.
Furthermore, Paulson struggled in early 2006 to raise money for a fund dedicated to betting against housing securities, Zuckerman reports; Paulson was viewed as an "outsider" in the mortgage market at the time and didn't reached legendary status until after the mega-profits had been booked.
I'm a rightist libertarian!
Friday, November 27, 2009
The end of a dream?
How much is too much?
Thursday, November 26, 2009
The big bear turns positive on India
And surprise surprise! The guy predicts new highs for us next year. The reasons he gives are: 1) The USD carry trade and 2) the fact that India is the top pick in the emerging economy universe and is relatively scarce (i.e. foreign investment can come into India only in the equity market, not through debt, real estate or other investment classes). Both points are well taken.
But I start getting sceptical when the sceptics start becoming believers!! Will Mr. Roubini be right this time? That is the trillion INR question :-)

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