Understanding Jihad

I have debated on writing on this topic for a while, now I feel it’s a pertinent issue to tackle. I have to confess I don’t have all the answers but this is an honest attempt at trying to break down the concept of Jihad.

The word Jihad does not mean holy war. The idea of being sent to heaven by killing people in the name of religion is highly misplaced. There is no place for violence and killing of innocent people. The term Jihad was used in the context of ‘a struggle within oneself’. It means fighting your vices and walking the righteous path. It is very easy to distort the context, and ingrain into impressionable minds that the struggle means violence.

The popular concept of Jihad being a holy war was highlighted by the media. This of course was because the idea was ingrained into misguided youth. There is nothing glorious about the attacks that they carry. They may get swayed by the romanticism of the idea, but it is their naivety which is capitalized on, by the smart masterminds behind this terror.

Somewhere over the years terror got mixed with religion, it is now time to separate them.

The Flying Shoe

Its been a bad fortnight for politicians. Some have lost their jobs, some been fooled by crank callers and one had a shoe flung at him. Well its not everyday that a shoe is hurled at the President of the U.S.A. It was a surreal experience. To his credit, Dubya managed to dodge the shoes with comfort. A video of the incident can be viewed at http://in.youtube.com/watch?v=mjdXwLQrRJ8

Surprisingly the incident has not created a furore as one would expect. The middle east is hailing the journalist as a hero and the rest of the world is quite cheerful about the incident. It is sad the president has become such a joke. His actions are debatable, but the position he occupies commands respect which has been diminished. The incident itself is quite random, and thinking about it cracks me up. It is an indication of the anger of the people of the region. But what was the journalist thinking??

Dubya's rein as president has been a blessing for comedians, since he provides them with enough material. But majority of the people would be glad at his exit. Internet companies love to cash in on such freaky events. I think this game is quite a laugh. Try it. http://www.kroma.no/2008/bushgame/
http://www.sockandawe.com/

The Hoax Call

A head of state received a telephone call from the external minister of a neighboring country threatening him of war. How best would you describe this scenario??

Amusing, is the first word that comes to mind. Amusing because some impersonator could manage to call the president with such ease, and then had the audacity to realistically threaten. At the moment I'm seeing the funny side of the story, but i realize the grave consequences.

It was an inane event. And to think that the president took the call so seriously that he ordered troops to move into advanced position only highlights his state of mind. It maybe a tactical move to divert attention but it comes at the high price of displaying naivety.

The whole incident reiterates the volatility of the situation, but you have to see the lighter side as well..

There is hope!!

I went to the Gateway of India today, to attend the peace march. To be very honest, i was surprised by the number of people present. The attendance made me realise, that the time has come for a new uprising. The energy was electrifying.

My worry is that this tremendous energy may not be channeled in a direction. This may lead to hatred and further division in our society. I do have faith in the youth of India (me included) to convert this into a positive revolution. The first step is to convey a strong message to the politicians that their method of working is unacceptable. The next step would be to state points of action which should be implemented at the earliest. A group of people have filed a PIL asking the Bombay high court to ensure implementation of various security reports given to the government in the past. The next step is to monitor the implementation of these reports over a period of time, making the government more accountable. Finally, we as citizens must be alert and assist our government and security agencies in every possible way.

I have to confess, walking at the Gateway gave me a strong sense of reassurance and would have to the thousands present there as well.

My City Will Bounce Back

It has been more than two days since my city has been under siege. Its very foundation has been attacked by a group of terrorists. We are frightened but we will not be cowed down. Our heroes are protecting us and the message they send is, ‘You can’t be harmed on my watch’. Yet I tremble and shake for the places attacked are places I have spent my life. These are the places I frequently visit. These are the neighborhoods I grew up in.

This attack has dampened the soul of the city. People are panicking and running at any sound remotely similar to a gunshot. Today I witnessed an entire street shut down in a matter of minutes because someone started a rumour about hearing a gunshot. I heard someone say, ‘this is not Bombay anymore’.

I silently pray for my city to heal. It will take time and it will need more heroes. I urge people to stand up and fight back. We will not bow down to these terrorists. The time to be afraid has past; the time to be resilient has arrived.

I do not know these heroes personally, but I have grown up reading about them in the newspapers. It saddens me that they are no more, but I stand up and salute their bravery. I can safely say that the city salutes you; Hemant Karkare, Vijay Salaskar, Ashok Kamte, Prakash More, Sandeep Unnikrishnan, police constables, NSG commando’s, army jawans, IAF, Indian navy, Marcos team of the navy and all others involved working behind the scenes. We are proud of our protectors.

Enjoying Cynicism

I am an optimist most times, but am truly appreciative of cynicism and dark humour.
Recent events on the global economic front and its trickle down effect on b-school students is a situation compelling to bring out cynicism amongst everyone.

I find doomsday predictors fascinating creatures, they first make sweeping statements and later bite their tongues on being proved wrong. Personally i feel it doesn't make sense being a doomsday predictor, cause if the world does end how will you gloat on your accurate predictions.

Coming to the recent wave of negativity and cynicism on campus. At some level it is justified, but rather not dwell on it for too long. It is the perfect opportunity to practice the art of dark jokes, but do not believe in the negative rhetoric.

Life goes on, the sun will rise again, the wind will blow and more importantly everyone will get good jobs..

Separating Skill from Luck

All your life you have cherished the moments of success and rued missed opportunities. But the manner in which you react mentally to both situations will be drastically different. Before explaining myself I intend to make a dramatic declaration. A lot of people have made it through life riding their luck.

Let me explain before the knives come out. Key events in life determine the direction it is going to take. At such defining moments if destiny favours you, things appear sweet. Now the question you need to ponder on, is did you deserve the success because you are skillful or you just got plain lucky?

It is almost impossible to separate the contribution of skill and luck in your success. The key is to realize their existence and identify their role. In an ideal world success would come from 99% skill and 1% luck, but there is enough evidence to believe otherwise.

Economy jokes (Inspired by Leno)

The economy is so bad - Mukesh Ambani is shopping at Big Bazaar searching for discounts..

The economy is so bad - Azim Premji is using CFL bulbs to cut his electricity bill..

The economy is so bad - Jewelers are selling vegetables as a side business..

The economy is so bad - Students are moving from Barista to cutting chai..

The economy is so bad - Mcdonalds serves only Vada pav now..

The economy is so bad - Kids from Malabar hill and JVPD are travelling by BEST bus..

The economy is so bad - Restaurants are checking if u are employed with an i-bank before allowing u to enter..

The economy is so bad - People actually want to study instead of work now..

The economy is so bad - I may be making jokes for a living!!

Equity Flutter

The butterfly flaps its wings in a distant land. The screen on the monitor blinks. the roof falls off. An old man is stumbling in the wind. A young man is trying to fight the wind. Gravity makes its presence felt. Some crazy new stories are written. A few tears are shed. A baby crying. A home sold. Purchases delayed. Gold stops shining. The sun looks dimmer.
Its amazing how a small crack in the dam can bring the structure down.

Sit back and let Equity flutter.

Fired or not, Decide!!

Tuesday: Jet Airways and Kingfisher Airlines enter into a ‘strategic alliance’.

Wednesday: Jet Airways announces it will lay off 1800 employees who were on probation.

Thursday: Naresh Goyal, chairman of Jet Airways, reverses the decision saying it’s a ‘conscience call’.

This was the sequence of events that panned out in the last few days. There are some very important aspects which I felt compelled to discuss.

Given the general economic slowdown and the specific problems that the aviation industry is facing, cost cutting measures are inevitable. Hence the management would have spent considerable amount of time to deliberate this decision. Given the recent alliance this step indicates a well thought out plan to save the airline from going bust. Now the sudden change in decision is a complete shocker.

Let’s consider Naresh Goyal’s statement that he felt guilty after sacking his employees purely on face value. A seasoned businessman like him would not confront logic with emotion. As a manager you would have to take tough decisions to solve problems. I understand the pain of firing employees but I am sure it would have been done after considering all other options. The company is at stake, creditors are waiting for their payments, revenues are dropping and thus you need to cut the flab. From a managerial perspective this event is a sham. You take a decision after due consideration of all factors (moral and conscience as well) and then let things play out. It would be interesting to observe Jet’s future now.

Another possibility could be political pressure. We had one minister go on air and claim he had a ‘chat’ with Mr. Goyal. Another extreme right wing politician was seen ‘listening’ to the fired staff’s woes. There was more than a hint of potential trouble. The dilemma remains, should politicians interfere in business????

Naresh Goyal made it clear that he was not party to the original decision. It was a rather naïve statement, come on, we are in India, the promoter (and chairman in this case) has to have a say in such a critical decision. Imagine how red faced the CEO will be when he read the statement.

Signs

I am a great believer in signs, indicators, signals, pointers or whatever you want to call them. By signs I mean bits of data which help us infer or conclude something. These cryptic messages are linked to the event but do not have a direct bearing on the course of the event. The stock markets have been in turmoil for the last few weeks and I have been struggling to search for signs which would indicate some sort of a bottom to the market.
The first sign was a newspaper report about some investor who had bought stocks recently with money he had saved for his sister’s wedding but lost more than 70% of his capital. This loss means he has to postpone his sister’s wedding. It is truly sad story, but highly clichéd as well. Don’t want to criticize the media, as it is not the intent of this article, but they need some imagination. Over the last week I read three similar articles in different newspapers. This leads me to conclude that some sort of bottom is being formed. The greater fool theory states that the value of an asset appreciates till you can find someone else who will buy it at a price higher than yours. In January we ran out of buyers, hence the great run came to a halt. The more I read articles of this nature, the more convinced I will be about my conclusion.
The second sign is the irrationality displayed during this week when stock markets across the globe tumbled 15-20%. The great panic and unprecedented has to be equalized by an equal and opposite force, albeit for a shorter duration. This leads me to believe some sort of a bounce in the markets. Once the irrationality is out of the way we can hope for some stability.
While I continue searching for more signs, would hope you (reading this) look out for some as well, and if you do stumble upon any, inform me.

Kites

The biggest test of life lies ahead, i ponder,
Hoping it will soon be over.

Some kites will take off, some go up and then come down and maybe a few wont take off at all.


They say the future lies in your own hands,
but all life is written by same hand.


As these thoughts fill my mind and I miss the point
Life itself is an unending test.

The last laugh of Fixed Income Securities

Equity traders and investors have never had it better than the period between 2003 - 07. The benchmark indices of the Indian equity markets, Sensex and Nifty, gave an annual return of over 40%. It was almost unimaginable to invest in fixed income options and mentioning that you invest in these products was taboo.

Cut to 2008 and I can assure you investors in fixed income securities will be smiling smugly. And equity traders will say they did not 'listen' to sign of excesses, thus they blew up. Soon the stories of sold homes, cars and gold to repay leveraged positions will trickle it. The media will have a field day running these stories (I admit equating Dalal street to Mahalaxmi racecourse is fun).

Some introspection will reveal how much of the past success was luck. Obviously its hard to accept its luck and not skill and its even harder to segregate the impact of each element. But honestly i can say some degree of certainty this cycle will repeat again. The simple reason for this is the human tendency to get complacent when the going is good. Danger evokes caution, fear curbs the natural risk taking ability.

While i write this hoping equities will bounce back, i accept 2008-09 will be the years of fixed income securities. So let them enjoy this time and do not grudge their success, respect it, because it is built on caution, planning and patience.

Stumbling Giants

Probably not the best time to be a finance student hoping to get a job. Two of the big five I-banks gone and few other companies hovering close to bankruptcy surely makes me shiver. But hey, wise people say the Indian economy is resilient (I have to believe that, need a job soon).

My job prospects aside, let’s look at the larger picture now. People hopefully will not be crazy in the future and be cautious of new derivative products (ah who am I kidding, wait till the next bubble). Insurance companies will do what they are supposed to do, sell insurance and not dabble in complex derivative products. Banks will be cautious and watch whom they lend to. Governments will play an active role in clearing the mess. The global economy is probably in a recession it is just a matter of accepting it, but things will get better. All this is possible in Utopia, but the lessons here are hard hitting.

As I reflect on these points preparing myself for interviews in the future, the perfect line hits me. I will say to the recruiters, ‘Sir, I am a finance student, can I sell soaps at your company’.

Transfer Madness

September 1st was the transfer deadline for the English Premier League. The last few hours witnessed a mad scramble. Robinho signed for Manchester city, yes you read it correctly, city.. Well Man city was bought over in a dramatic takeover. Berbatov joined United at the last moment. i can only imagine the excitement that would have descended over England. If you are reading this article and not sensing the madness in the whole transfer system you are not passionate about football. But thats not the objective of this article.

I write this wondering when we in India can enjoy this madness. Cricket is the only game which evokes raw passion in the country. We all support the cricket team, but there is no rivalry amongst us. The IPL is a step in that direction. Soon the country is being divided into its favourite teams. The first edition of IPL provided a glimpse of what can be expected. So now when we are discussing 'our' teams with friends, and that team is not India.

Now imagine in the next edition of IPL, the Bangalore team attempts to 'buy' Sachin. This is blashpemous, it is unimaginable. People will take to the streets in protest. If you can feel the pulse of what i am talking about then you will be in a position to relate this with football in England. Every year there is drama, excitement and entertainment.

I look forward to this madness hitting our country. It will herald a new era of public involvement and stir passions like never before.

States of Gas

Gas is appreciated mainly by two sets of professional. First scientists in a chemistry lab and second by MBA students. The reason for affection is entirely different. During the course of this post I will compare and contrast the various forms of gas available in nature and in b-schools. For those unaware gas in b-school parlance signifies the meaningless ‘gyan’ rambled by occupants.

Nitrogen (N₂)

It is the most abundant form of gas available in nature. Like in nature it occupies 78% of b-school environment as well. Harmless on the surface but can develop into a deadly concoction when mixed with other elements.

Oxygen (O₂)

This is the basis of life. These individuals provide the substance in the course. Again rather unfortunately only 21% of are in this state. It is due to the existence of this form of gas that a b-school is a tolerable place.

Ammonia (NH₃)

This one stinks. And it really is one that you should run away from. The strange thing though is that when you mix ammonia with the some other ingredients it can produce excellent results.

Nitrous Oxide (N₂O)

This one makes me laugh, I mean literally. Not for no reason is it called laughing gas. These characters on campus make life easier.

It is amazing how things connect, who would have thoughts lessons in chemistry play out in management.

Why we don’t Short Sell

We Indians are a strange lot. World over we are famous for our culture, food, big grand weddings and our emotions. It is strange how famous we are the world over for wearing our heart on our sleeve. There is nothing wrong or right about this characteristic but understanding the limitations it creates is very important.

Short selling is a derivative contract which involves selling a stock without actually holding it with the anticipation that the price will go down. The investor thus makes profit which is equal to difference in the selling price and buying price. People short stocks when they are pessimistic about the future. Now here lies the dilemma for Indians. Most Indians are optimistic and do not wish badly for others, especially for personal gains. So even if there are strong signs of a stock moving down most would let the opportunity pass. On the other hand, if there was an opportunity to go long (exact opposite of shorting) people would be more willing. This may be due to a feeling of guilt that you have driven down the price.

It is strange how emotions cloud our judgments. The philosophy of taking decisions based on data, leaving emotions aside is a skill we need to develop. Money gets people a bit emotional, but discipline is the key to making consistent profits.

In defense of Subtlety

I stand amongst the last few people guarding the citadel of subtlety. With me are a few brave warriors who value, cherish and fight for subtlety. It is a tough battle, but if it was easy then it would not have been a battle. Some might feel that this article has no point, but if you feel that, then you validate the title of this blog.

Most people like clarity, even in our humour. They kill the jokes a hundred times over with explanations and elaboration. The not said often has more value, enjoy it and appreciate it. Imagination is a powerful tool to appreciate subtlety. A little guessing never hurt anyone. By no means do I recommend deliberate obfuscation, but a little cloud cover makes the atmosphere beautiful.

As an ardent admirer of the unspoken I request more support in my sojourn to promote greater subtlety.

Dreams

“Dreams are not those you get while sleeping. Dreams are those that don’t let you sleep”. This is what Indian boxer Akhil Kumar said after he beat the world champion at the Beijing Olympics.

Probably even he does not know how powerful this statement is. If you dissect it carefully it talks about three aspects. First is the importance of dreaming, nothing new here. Second is the implicit burning desire to achieve your dream, again lot of people talk about it. The third and most critical message this statement sends is that don’t rest unless you have achieved your dream. Motivation without direction and direction without motivation is of little use. To be a success these two drivers have to walk together.

A not so wise man once commented, “To achieve something you need to dream and to dream you need to sleep”. This not so wise man happens to be me.

People often miss the second and third message of Akhil’s statement. There could be various reasons for this. A large number of people are scared of achieving the dream because all their life they live to achieve that dream but they are scared that after they get it, life will lose its meaning. It is like their secret source of power which drives them in life. To these people I say, dream more again and again.

To the people who don’t have a dream, find one.

Why i will be nice..

This incident took place over a year back. It left a strong impression on me and hence i decided to share it.

Really weird thing when I was returning home from work.. I took a cab from Metro to my place and went thru marine drive.. the fare was 24 bucks.. so i gave the guy the money and he says "Saab dus rupaiya wapas le lo, aaj bahut dhanda kar liya (there was a bus strike in Mumbai that day)... Mein taxi Girgaum me park karne wala tha to waise bhi ussey direction mein ja raha tha, aaj ke liya itna paisa bahut hain"..
Coming from a poor man, I was stunned.. I obviously argued with him and said, this is his money.. So for about 5 min we were arguing in the middle of the road...But he refused.. And i saw the satisfaction of anhonest man in his eyes.... Can u imagine a Mumbai cabby taking less money.. Its a good turn that will pass on...

This incident has left a lasting impression on me.. Its made me realize that greed is not all pervasive.. Kindness, humility and honour are still alive.. It is upto me to display these characteristics in the future.. I truly hope more people proudly display these traits more often..

Quick Gun Feedback

I was invited for a preview screening of a English remake of a Tamil movie.. The producers wanted to get feedback on the movie before its commercial launch.. So before the movie, i was part of a focus group which focussed on the promotional aspects of the movie.. After the movie 400 people were asked to fill a quantitative questionnaire.
Honestly the less said about the movie the better..

The purpose of this article is more to analyze the method and relevance of the feedback.

The objectives of a movie maybe many, it could be to entertain, provide a message, medium of artistic performance etc etc.. Hence a movie has to be targetted at a specific audience. It is upto the movie makers to decide how to translate the idea from his head to the screen.

the real question is about the usefulness of the feedback..

- Negative Feedback, i really doubt if the producer would be willing to change the product after its complete.
- Selection of respondents. wrong sampling can make the director change his mind on the movie. (if the sample consisted of more people like me, the movie would never be released)

It was a really random experience to be paid for a movie and fill out a questionnaire at the end of the show. It was a bit surreal. I realize now, that a film critic has to suffer a large number of stupid movies and then write about it.
Finance is a safer option!!

Written Script

AIN; the legendary warrior of the woods,
Lay wounded in the muck by the river bank.
His body carried many a scar,
Warm blood trickled out of his open wounds.

Each painful breath blew away some dust.
The shooting pain made everything numb.
He lay there, smelling the sweet soft soil,
Thinking he is soon going to be a part of it.

With great pain he looked towards Heaven,
Gasping aloud, “Is this my script’?
Then there was lightning, thunder rumbled in the distance.
The wind whistled through the trees

Droplets from heaven gently caressed the warrior.
The storm grew harder, the river got restless.
The pain heightened his awareness, arousing some fear.
The darkness seemed all encompassing.

Then rays of light journeyed to Earth.
AIN – The Warrior, managed a wry smile.
He knew his Maker had answered.
Destiny demanded a new victory tomorrow.

Opening Thoughts

So ive finally decided to write.. an impulse decision spurred by some arbid comments..
i used to write earlier but never shared my work. so in a sense im coming out of the closet. (pun unintended)


Im a bit volatile and irrational at times, so its not surprising that the blog makes its debut during the strategic management class.. so while i listen to some stupid presentation of a companies vision i decide to put down some of my own stupid thoughts.


so this space is gona be my area for making sarcastic comments, observations and theories..




till the next time.. cheers..





p.s. for any complaints about the blog layout contact aditya patil
Comments and critcism welcome,,