the inner voice

Well isn’t this a philosophical question?  A year has ‘passed’ like ‘मेरा सुन्दर सपना बीत गया’ and still, there is no sadness in the air, no obituaries written…rather everyone seems to be pumped up to celebrate the ‘birth’ of the New Year. That’s life…new generation leads…while elders guide.  जो बीत गया सो बीत गया…. One always looks forward to the day...afresh… who wants to remember the night before…रात गई बात गई. Is it possible to drive ahead by looking into the rearview mirror? In Olympics, do we have a race that runs backward? There is an old saying that one should always look towards the rising sun. The rising Sun symbolizes hope, energy, vitality, and positivism. That’s what the New Year has in store for us. The year ahead is full of unknowns…yet people see it filled with opportunity, hope, and boundless possibilities rather than fear. It is this attitude of humankind that is fascinating. If all of us could integrate this attitude into every sphere of life, we would be...

Is it End of 2008 or the Beginning of 2009… As the year comes to an end…this question always comes to my mind. How should one look at it? I think it’s good to do both…while the coming year holds a lot of promise, the year gone by serves as a great teacher. Rarely do we look back individually to analyze how did the year go, what were the lessons learned, what we did right, where did we go wrong and what we could have done better. So let me put down my intellections on what I think about the year gone by and what plans I have for the New Year.  I am yet to come across a more intriguing year than the current one. The year experienced such a blend of events, each watershed in its own right, leaving my head tossed. Rarely do we see spectacular highs and worrisome lows within the same year for e.g. oil touched a high of $150/barrel giving shock to world energy managers and low of $38/barrel, making it cheaper than a bottle of water.  2008 was a watershed year in many ways. Let’s ...

I have been having many a round of discussions with my friends, Aman and Nitin, on this topic. I, with a finance background, end up having the task of explaining what caused this. It’s those endless discussions, leaving our spouses frowning, which forced me to write this blog. An attempt has been to put together in a layman’s language on various aspects of this economic seizure, of the financial tsunami, popularly called these days. We will stray here and there to understand various concepts as it comes along. Any economist worth his salt probably knew that recession was on its way. What probably they couldn’t figure out was the depth of malaise and consequent magnitude of seizure, leading to the collapse of global economies. But what intrigues me is only very few had the guts to take a position and write about it convincingly, against the popular public opinion, while it was sunshine. History has it that public opinion is based on ‘expectations and euphoria’ and not on facts and it’s ...

Last week was one of the sad and disturbing weeks of my life. The dastardly terror attacks on Mumbai left all of us very shocked, angry and frustrated. The scale and sophistication of attack was unprecedented. Different access routes, loads of ammunition to survive days of fighting, simultaneous attack on multiple locations - some of them iconic landmarks and aiming of diverse nationalities leading to brobdingnagian damage to life and property. Indiscriminate firing on innocents commuters at VT, guests at Taj and Oberoi and the Nariman House, a Jewish settlement, has left approx 200 dead and 300 plus injured. Infact the damage goes beyond those dead, it has left everyone alive, scared and vulnerable. The battle was witnessed live for 3 days on TV bringing Mumbai massacre right into our homes. It collapsed the sense of distance and made everyone part of the city. It’s their city, which was burning. Everyone was a Mumbaikar. Over weekend, we have been talking about this with friends. Th...

This downturn though very scary in terms of job security is resulting in some unexpected benefits.  We have more time than usual in our hands. I have decided to stay positive by making most of this time to visit the gym in the morning and hone my golfing skills. That said; let me talk about my current passion. I got inspired to pick up this game by a couple of events. The first and foremost reason happens to be my pal Rajiv Kapadia, who took me to the range and subsequently to the course, during one of my visits to his place in Detroit. Somehow I had this perception that it’s not affordable and very elitist. As I grew this notion weakened but finally gave it away when I played with Rajiv. Two days to the driving range and then to the course - this act was enough to bury my apprehensions of what people would think if I am unable to hit the ball, what happens if I take more shots than usual, what about etiquette, rules, etc. He said, “just enjoy the game and that’s all that matters”...

We recently witnessed one of the historic events of the century - Barack’s win and election as the 44th President of the United States of America.  With Barack Obama getting elected as the 44th President, it tells many things about American society. Society has now truly become ‘Americanized’. I think this was very important to the spirit called America. Though no one admitted it openly…it was still a white-dominated polity. But things have changed, people’s views have changed and they have backed ‘change’. Barack’s election has changed the landscape forever. Society revisited the ideals around which America was built by its great founding fathers thereby keeping their dream alive.  It revived my memories of the Rosa Park bus displayed at the Henry Ford museum in Detroit. A few years back I had visited this museum and learned about the 'freedom and equality movement. Rosa Park happened to be heading back home on the Montgomery bus and was seated just behind the seats (first te...

The downturn is bringing along with it other forms of casualty besides losing trillions of dollars. It is witnessing steep erosion of moral values. The moral fabric of companies and managers running has weakened. As they get increasingly jittery, they tend to break away from promises made and don’t fight back within the respective hierarchy with the same ebullience as they would in good times.  The concept of morality and justice implies that commitments made in advance must be acknowledged even if it’s to one’s own disadvantage. To one’s own disadvantage is something we are not prepared to live. Why is our moral fiber built so tenuous that a simple sudden tension snaps it? Why do we people start tending to take decisions by popular demand than by principle? Managers try to postpone or run away from the existing promises by blaming the ‘change in circumstances’? Changing times as a reason comes in handy in business like situation and everyone’s exploits that to cover his or her sh...

Came across a very relevant quote in today's context from Richard Feynman while reading one of his books/articles. He was a brilliant, leading post-war theoretical physicist, a Nobel Laureate, a great teacher, terrific original thinker, and writer. I quote:  "There are 10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It is less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers. - Richard Feynman, physicist, Nobel Laureate ( 1918-1988)" When seen in today's context of financial crisis which runs in trillions of dollars, this number looks even smaller. Next-generation will probably start counting from $1BN, $2BN, $3BN....$100 BN. Had he been alive...he may have called them "Infant Numbers". What do you say? Or Can you propose some other name!

Yesterday Sensex lost 800 points and has been on the losing streak throughout the week. Same has been the case of Dow, Nasdaq, Nikkei, Hang Seng, and all the other bourses across the world. On the other side Rupee is on a continuous decline since the crisis intensified. Are we seeing worst of times?  As finance professional the events are overwhelming. How deep this shit is? How long will it continue? How many participants will it gulp? What does it take to get the confidence of players back?  Since nobody has clear answers it’s leading to fear. And fear has no rationality. Further it has dented the trust levels and trust has not substitute. Majority of the business is transacted on trust. Even at work, we deal with our colleagues on trust. If one were to have everything in writing, it would be nightmarish to work. But once you lose trust on someone, then the team cracks. That’s what is happening in the financial markets. With trust taking a knock no amount of reassurance is ...

Oct 2nd, the birthday of Mohandas Karamchand Gandhi, more popularly known as Bapu or Gandhiji, is celebrated as Gandhi Jayanti in India and International Non-Violence Day, the world over. Couldn’t have been more timely with bloodbath all around. Let's see what's happening around the country. India has been rocked by a series of deadly explosions starting with Jaipur, followed by Bangalore, Ahmedabad, (failed ones in) Surat, Delhi, and recently North-East leading to heavy casualties of life and property leaving trust and confidence in tatters. It has managed to instill fear in the minds of innocent citizens and has shattered peace. The whole intelligence and security apparatus has failed, rather failed miserably.  Yesterday Ratan Tata announced a pullout from Singur. He cited violence, agitation, and lack of a congenial atmosphere as the key reason. We can blame Mamta Bannerjee but this is what the Left has practiced for ages and getting a taste of their own medicine. Rule-of-L...

Last week has been a watershed week in many ways. So overwhelming have been the events that all of us have been taken in by surprise and shock. This will definitely serve as turning point in the history of finance. Goldman Sachs and Morgan Stanley have been converted to banks, WaMu seized, Wachovia disappeared, Money market funds at below par and the saviour $700BN package getting rejected by senate. It’s tough to digest so much so quickly. Haven’t added the European seizures. For sure it will get real nasty before it gets any better. The crisis is not only the crisis of credit and liquidity, but of trust and confidence as well. Corporates and Individuals both are in bad shape. Corporates are not getting money to run their day-to-day operations, forget long term, where borrowing costs are touching the sky. Return hurdles for lenders have gone up. One wants to lend very very safe. Individuals are in bad shape, with retirement savings, education savings and health savings gone. Shares ar...

There are some events that happen once in a lifetime and they leave their mark forever.  This week saw one such event in the world of finance - the stunning collapse of Lehmann Brothers and Meryll Lynch and AIG teetering and can drown anytime unless Fed steps in. Wall St, never had it so bad and raging bull in front of it, watching it helplessly.  The decline started with the collapse and fire sale of Bear Stearns. The tsunami of sub-prime has swept away everyone on its way. The top five investment banks have been reduced to two and who knows how long will even they survive. Goldman Sachs, which looked stronger till recently, suddenly looks vulnerable. Rumours are that even Morgan Stanley is not safe and may merge with GS. These firms were the mecca of high finance and every MBA worth his salt dreamt to work there. The collapse has sent the world markets into a tizzy. Every country has been affected. Markets opened with trepidation and fear.  Central banks of all natio...

Exercise is a great addiction – and this one, I am sure we don’t mind getting hooked to. These days, in addition to gym routine – treadmill, cross trainer, 4 station, abs machine, and bench,  I have take a liking to running. Me and my pal Aman recently participated in community running. This was organized by ‘running and living ’, a group which promotes running. I somehow managed to complete the 5 Km run leaving my muscles stretched and cramped. To our surprise couple of days later, we found ourselves splashed in an Indian Express article on ‘running for fitness’ in living section of the daily. I was quite surprised but liked it.  That we appeared in the newspaper, we had to clear the ‘newspaper test’. A month of preparation, I felt extremely proud yesterday when I ran full 5 Kms, non-stop in 30 mins. What an experience and the elation of achieving it. It reinforces my belief that it’s all about setting up a goal and working towards it. It’s achievable. This one took ju...

Its monsoon time and in todays melee we have somewhere forgotten the beauty and richness of this season. Have we ever celebrated monsoon in recent times ? Atleast I don't remember. The world has been too technical around monsoon. For urbanites it brings the dreadful memories of water logging and the resultant jams and chaos it brings along. However their is very beautiful and poetic side this season. The months of July-August, sounds more poetic, when its called Barkha (Varsha Ritu or Rainy Season), per Hindu solar, or Saawan ( Shravan ) per Lunar. For some its more romantic....and for some more pious. Each of these emotions have been captured by our literary and musical greats in various forms. It reminds me of 'Meghdoot' a masterpiece by great Sanskrit poet Kalidasa, who asked Megh ( the clouds ) to be his doot ( the messenger ) and convey his love to his beloved ( post his separation using monsoon as metaphor ). Its one of the most romantic renderings I have read. How ro...

After many many years did I watch a boxing match live. You would have guessed it - it was our Vijendar fighting it out. Adrenalin was rushing with every punch...felt like wearing gloves and hitting it out at the Cuban. Our man lost...but no worries he will get home bronze, a great achievement. This olympics...for India will remembered for Abhinav and shooters...Vijendar and boxers ....Sushil Kumar and wrestlers...Saina and shuttlers. Not bad...isn't it. We would come home with 3 medals - 1G and 2B. My heartiest congratulations to Sushil and Vijendar. India never had it so good and thank you for making us proud.

Today, on August 15, 2008, we are commemorating our 61st Independence Day. Here, where I stay, Regency Park 2 at Gurgaon, the residents welfare association made the day more memorable by the fabulous arrangements at our community park, to celebrate the occasion. Family and friends made it to the occasion. It started with flag hoisting ceremony followed by the National Anthem. We hardly see occasions where we get to sing our National Anthem these days. It is such a nice feeling to sing Jana Gana Mana. Then came the spirited performance by kids and fancy dress by toddlers, looking really cute as Gandhi Ji, Subhash Chandra Bose and Bal Gangadhar Tilak. There was a quiz related to events leading to our Independence and to my surprise no questions went unanswered, which is truly amazing. You want to try ? Some of the questions were - When was Battle of Buxar held ? Which event led to the end of Non Co-operation movement ? Which year was Dandi March held ? Who accompanied Bhagat Singh in th...

Aug 11, as the news rushed in our office that Abhinav won Gold at Beijing - our chest swelled with pride, what a ecstasic moment. It appeared as everyone had won Gold. He won the first individual Gold for India in 108 years . Event - 10m air rifle and score 104.5 . Metaphorically, it was like rains on the years of parched earth. A country of billion people had to wait for so long for this feat. Probably its a comment on us, system and administration on how we treat sports and sportsmen. Even though he is 25, he probably deserves Bharat Ratna for this stands out as a greatest sporting feat for this country in the modern era. Even Kapil said, this betters the India's '83 world cup win in cricket. The is far more 'global' and far more prestigious. Olympics is for the toughest, ohysically and mentally fittest, with best of the best taking part. Hence unless we get the Olympics right, we will never be a sporting nation. I have written earlier also on sports and sporting faci...

I happened to be in Landmark - the bookstore at Gurgaon, this Friday. To my surprise I met Subroto Bagchi, present there to launch his book by the name "Go Kiss The World - Life Lessons for Young Professional". It was truly a well spent hour. He read out the excerpts from his book wherein he took us through his journey of life. It was journey in time, struggle his family had to go through, rural Orissa, his experiences with Aziz Premji and finally where he is - Gardener, author and father. Its great experience to hear the author reading his own book. He started with the story of a lady who was working in Taj, where he was put up in Delhi, who happened to be from his state. Here she was from a small town, working in Taj at Delhi and tomorrow could be working in Taj's newest acquired property in NY. He said, its the professionals who are defining history and there was never such a time. We also got an opportunity to interact with him and ask questions. On time management, h...

This has been one of my favorite nos. I have been humming this for years now. It has been a hot favorite with all singers, notably qawwals and these days the reality show contestants. Some of the known names who have lent their voice to this - Ustad Nusrat Fateh Ali Khan, Abida Parveen, Madam Noor Jehan, Wadali Brothers, Reshma, Sabri Brothers, Jagjit Singh, Runa Laila, Lata Mangeshkar, bands like Junoon and this list endlessly goes on. Many college bands have attempted this giving a rock flavour. That, one song could be so popular amongst so many, I wondered, what this song is all about, what's its true meaning. This and last week I spent looking for all the versions and answers to my questions. What a fascinating and satisfying journey it has been. This song is in the honor of Sufi mystic 'Hazrat Lal Shahbaz Qalandar'. Every word of his name has a meaning - he was known as Hazrat ( prophet of GOD ), Lal ( he wore red robes or mothers fondly call their kids as Lal ), Shahb...