The Unraveling of the American Dream: 10 Fatal Flaws

EconomicsManu -
And why the US investors must protect their fortunes while they can.. “We are hardwired for optimism. We have a natural tendency to believe that things will go well, even when there is evidence to the contrary. This can lead us to underestimate risks and to make decisions that we later regret." - Nassim Taleb As I recently partied for many continuous evenings at Ruby Hill (an affluent gated community) in...
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The ‘Ten Blunders’ to avoid when markets are touching all-time highs

FinanceManu -
The euphoria is unpalpable, The anchors at the top TV channels have already printed T-Shirts of “Nifty - 21000”. The Nasdaq is about to finally breach (or atleast it was just a few days ago) its life high in a few days and there has never been a better time to believe that “This time it’s different” I have been in markets since 1993 and like most 50 yr olds have seen a few booms,...
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Air India – The looming waterloo for the TATA Group

UncategorizedManu -
Warren Buffet famously quipped - “If a farsighted capitalist had been present at Kitty Hawk back in the early 1900s, he should have shot Orville Wright. He would have saved his progeny money. But seriously, the airline business has been extraordinary. It has eaten up capital over the past century like almost no other business because people seem to keep coming back to it and putting fresh money in. You’ve got huge fixed costs,...
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How USA can trigger a decade long economic winter?

UncategorizedManu -
I have always had a diminutive stature and as a kid I cannot forget when I was first bullied in school by a guy who was bigger, pretended to be invincible and for some reason managed to instill a belief among all of us that if we don’t toe his line, our future would be bleak and sustained existence – questionable! But obviously there comes a realization when enough...
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ITC – And The Story Of The School Crush

FinanceManu -
I was surprised they didn’t sue Dr. Ashwath Damodaran when he opined that ITCs bestdays are behind it. We have all had crushes during our school days and almost always our crush would just create a flutter, never materialise into anything meaningful, we would try and attract the person’s attention, protect them fiercely (without the same mattering to the subject), it would always remain a sweet memory, would eventually fade into oblivion without giving any carnal...
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The 9 pivots that have changed the course of humanity

Economic crisisManu -
And why India must not miss the opportunity to become an economic outlier As I get inspired by Investor Vijay Kedia s latest on Indian markets and as a proud Indian, see the hard work of the forefathers of our nation paying off, as reflected in the present economic indicators, I cannot but muse on the circus going on in the rest of the world. Never ever in recorded history has mankind been happier to learn about the misery of...
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5 lessons from life and times of Rakesh Jhunjhunwala – The legendary Bull

FinanceManu -
Anyone who is even distantly involved with stock markets knows Shri Rakesh Radheshyam Jhunjhunwala (RJ) as “The Big Bull” What a nomer to have and outlier of a recognition in a nation of 1.6 billion people where one of the most remarkable catalysts of vision and growth amidst all adversities is the bullishness of each and everyone among us. Floods, Droughts, Terrorism, Catastrophes – nothing perturbs the spirit of Indian’ness’ because everyone here is a...
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I am Back

UncategorizedManu -
Emerging from a Year Long Sabbatical Silence is the most powerful weapon - To comprehend, reflect, reminisce, dream, energize and re-emerge. The last one year was the most dramatically beautiful and rewarding year for me. Four of my dreams came true. And in addition a miracle happened….. Firstly After 27 years in the corporate world, having established some formidable brands in the hospitality industry at the helm of their operations, I realised my dream to become a full-time finance...
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Magic, Illusion or just Trickery – The story of ITC

InvestmentsManu -
Quarterly Magic of ITC NumbersThe greatest trick the devil ever pulled was convincing the world he didn’t exist. And looking at the way ITC is managed, it can be said with reasonable certainty - The greatest trick the ITC is pulling is to convince its shareholders that its board exists and is indeed responsible for the company.The alarming regularity with which the stock price is manipulated weeks before every quarterly result, the rumours about the demerger, stellar...
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Hope amidst Virus, Vaccines, Quarantine and Quaintness

CovidTimesManu -
The reality of Covid doesn’t really hit you till it hits you. March of 2020 through Sep Oct while Covid ravaged thru the planet, India seemingly remained unscathed - more so when the same was analysed in relation to the large population base.As early as May 2020 the street vendors were back in business selling paani poori and the food appreciating Indian population thronged back to restaurants and bars and pubs by October and large...
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The Standout Winner of the ‘Amazing 2020’

UncategorizedManu -
Depair and Pessimism was abound and doomsday declared by almost the entire humanity in March 2020. People involved with stock markets, most of whom had fading memories of March 2000 and Oct 2008 were in utter disbelief and majority of the fund managers with less than 10 years in business couldn’t believe that markets could make 2-3 days of downward circuits and March 2020 would remain etched in the memory of humanity for a long...
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Hope and Despair – The Unmaking of India

UncategorizedManu -
Why I’m losing Hope in India – By Andy MukherjeeNo single essay has captured my life's experiences, hope and despair, and articulated it this verbatimly. Wanted the same to be on my timeline permanently. Taking the privilege to share. -manu____My generation of Indians has often been disappointed in our country, and we have sometimes despaired about the direction it was taking, but it’s been impossible for us to stop hoping.Our own past has...
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PVR Cinemas – House Empty – Future Bleak – Retail Shareholders Euphoric

UncategorizedManu -
Warren Buffett’s seemingly most popular quote “Price is what You pay and Value is what You get” doesn’t seem more destroyed or intrigues the patron more, when one pays ~Rs300 / USD 4.5 for a 100 gms box of popcorn at an Indian multiplex, whereas in India 700 million people earn less than Rs 100 per day or say ~USD1.4 / day But this piece isn’t about the Indian Economy, its about the market...
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10 Blunders – 1 Arrogant Company – Millions of Shareholders Suffering (The story of ITC)

InvestmentsManu -
 Dear Board Members, As a minority shareholder while I sift thru the 368 page Annual Report (AR) of my company, it seems and appears to be a manifesto of a large political party that is proud of what its done in the past and what it hopes to do even if nothing sounds or appears to be value accretive for the shareholders. Markets are wise and perceptions are strong and the 1.5 million investors who have reposed...
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Investors are Dancing – But no music can be heard

EconomicsManu -
Is a Financial Tsunami Building up?Just as the stock price of Tesla kisses $2000 (and by the time i finish writing this piece, it might be $2200) and Apple is way past the 2Tr$ Marcap, I receive a text message from an enthusiastic friend of mine who first started investing a few months ago (March 2020) after being forced to work from home and shared his stellar success at his new-go at the...
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Is God The Richest & The most Selfish being on the planet?

musings of lifeManu -
The Fragile ground, God's been occupying for 5000 yrs Human Race and all other living beings were pretty much content with foraging sleeping and procreating for millions of years till God arrived and changed every single order that existed since last 2 million years, made us all useless, allowed us to comfort and bask in the warmth of its existence and the proverbial eye that it kept on us. We Human Beings found solace in our hopes...
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What Indian Kings and Leaders have in common – “Keep’m Poor!”

coronafalloutManu -
As I saw Sengar walking out of the court with a despicable smirk on his ugly face, his expression said “I might have committed the most heinous crime but this is a minor blip and I will soon be back – because in India “Sab Chalta Hai”. How I wish and pray someone had done a Hyderabad on him. And that smirk has pretty much defined the character of this nation. Whether its corruption , conduct...
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Difference between Akshay Kumar and Promoters of listed companies masquerading as Philanthropists

LeadershipManu -
Corona Virus is a tragedy, the likes and intensity of which, this planet hasn’t seen in more than 100 years. While this will change the basic behaviour of us humans, in ways that we can’t fully fathom yet, everyone (esp the stalwarts of the industry and more specifically promoters of listed companies) getting sentimental and pouring their hearts and coffers out for the relief measures must remember a few things. I speak in all humility...
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The curious & inexplicable numbers of Avenue Supermarts (D’ Mart)

UncategorizedManu -
Every investor on this planet wants to strike as big as Buffett at some point in his life at least once. And this brethren is secular, always researching, thinking calculating and finding that one multi-bagger that would be life changing and altering. This cannot be denied that more money can / has been / could, be made in stock markets than any other asset class. As I write this piece, the evergreen “Gold” is down...
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Case for ‘Exuberance’ in the times of Uncertainty and Fear

UncategorizedManu -
As we see the world rummaging thru the stores scampering for toilet paper its amazing to see how soon the irrational exuberance as late as Jan 2020 has turned to unreasonable fear and collectively, majority of the people become less confident of the future and forget/ignore the resilience and the intelligence of human race. We Humans aren’t Gods gift to the planet and no different from the virus/es that are attacking us and trying to push...
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Corona May be The Biggest Blessing in Disguise for Humanity

UncategorizedManu -
As Lenin famously quoted – There are decades where nothing happens and there are weeks where decades happen. The start of the year of Rat as per the Chinese Zodiac turned out to be uneventful and 2020 was supposed to bring prosperity, progress, fertility and be lucky for all other signs too. Early-Feb 2020, Corona had just about started to grip China and the rest of the world thought it to be more or less a...
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How Will You Measure Your Life

LeadershipManu -
Since I am personally fond of writing and penning my thoughts as an active blogger, I have never been a fan of producing anything verbatim. But Clay Christensen s article from Harvard Business Review, below, is a lethal combination of philosophy, Corporate Conduct, Prioritisation, life lessons and above all refreshingly different from the humdrum of infinitely large supply of gyaan available on the net. I wanted this to be a permanent part of my timeline...
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10 Commandments for promoters of Listed Companies

EconomicsManu -
If You are a promoter of a listed company and your basic idea is to loot the gullible public by privatising profits and socialising losses as recently done by Uber and tried hard by we-work this piece is a waste of time for you. If not read on….. Google.v top wealth destroyers in last 2 years and You will deduce that the behavioral pattern of all companies and their promoters is shockingly congruent. Malafide intent...
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5 Life Lessons to learn from Rana Kapoor of Yes Bank

UncategorizedManu -
There isn’t an investor I know who hasn’t got scathed in the Yes Bank carnage. From a high price of 400 in Aug 2018 it touched 28 in less than 12 months. For easy math – its was down 94% from its peak in a year and it will have to go up by 1300% just to regain the same top – if it ever does. Much has been said and written about the bank...
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Electric Vehicles – Awesome Potential & Dream ‘BUT’ Very Distant Reality

UncategorizedManu -
I wonder how many readers of this blog have ever used Indian Railways but when I first saw the water mug (used by Indians to clean their derrière) tied to chain using a miniature lock – the contraption far heavier than the mug itself, I wondered, A country where a petty mug needs protection – what’s the future of our future and who will protect it with which harness or security. The answer is a...
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Why a NDA loss might actually be good for the Stock Markets, Investors and India

UncategorizedManu -
Markets seem to have a mind of their own and have historically demonstrated that they discount the future far ahead in their present values. Perhaps that explains why Foreign Institutional Investors have pumped in close to 10 Billion USD in 2019 alone whereas they withdrew almost the same in 2018 from Indian markets and barely invested a net total of 2.6 Billion USD in 3 years (2015 2016 and 2017). Markets are almost certain that Mr. Modi...
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In Defense of Vijay Mallaya – The King Of Good Times

UncategorizedManu -
Disclaimer : I only know of Vijay Mallaya thru information available in public domain. I feel sorry for the few of his employees (who had to take their lives in distress) and their families. I have come across more than a few people who used to tell me with an accent, pseudo enough, that they only flew kingfisher and took pride in it. The parties that Mallaya threw and the host that he was,...
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‘Skin in the Game’ Reform: A Game Changer in the MF and Wealth Management World to Save the Retail Investor

financial bubbleManu -
Indian benchmark indices are at a lifetime high and hundreds of stocks that have been the market darlings are at their yearly and some 2-yearly lows. This fall has been precipitated in a matter of last -mere 5 months. Obviously most of the fund managers (mutual funds, private wealth, PMS schemes) are finding corners to hide where they can find respite and concoct some solid theories and reasons for wealth destruction last seen only in 2008-2009 – after...
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Financial Harakiri Made Easy

UncategorizedManu -
My first stock market investment was in year 1992 when my dad gave me some 100 shares of indo gulf fertilizers and I remember it was a bad trade as I traded all my life savings of Rs 17000 in a savings account to the then market price of those 100 shares that was Rs 7600. But laissez-faire prevailed and I got a share certificate with a green transfer form attached to it. I...
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The Invaluable role of “Chief Business Obstructers” in the modern corporate world

IndiaManu -
Darwins theory of evolution in its simplistic form says ‘The fittest survive and they fight to compete, survive and procreate’ Societies have evolved over generations where economic progression, education and character have all moved in a synchronous manner. Some of the most developed economies like the US, UK and France have had their fair share of tribulations such as wars, diseases etc but have demonstrated that they maintained their financial, military and intellectual hegemony from a global...
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Hopelessness in ‘God’s Own Country’

Reflections from an Indian PerspectiveManu -
Being attacked by a arms wielding mob of 150 and running for cover just to stay alive, isn’t something one imagines in ones wildest dreams, least of all see in reality. But the events of 23rd Nov 17, have shaken me and my belief on the future of this nation. The company that I work for is known to build and operate some of the finest wellness retreats in the country. A relatively young brand,...
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Recipe of being a First World Country! Fix these, Fix India!

Reflections from an Indian PerspectiveManu -
1. In the silicon valley of the east – Bangalore, I have been to Manipal Hospital atleast 5 times in September to visit my close friends or their family members suffering from dengue. It is surprising and rather interesting that everyone I know between Delhi and Bangalore, knows atleast 2 other people down with dengue. I didn’t know whether to feel amused or sorry when parents of my cousin, suffering from dengue, visiting Bangalore to tend to him...
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Infosys Saga – Who is Omkar Goswami by the way!!

LeadershipManu -
Mr. N R Narayana Murthy has been under some criticism for a while for having raised some questions that remain unanswered by the erstwhile CEO Vishal Sikka or the present Infosys Board, ‘Founders Go Away – leave the company alone’ has been a rhetoric that’s been echoing in the present board rooms of Infosys. So when I read a scathing attack by Omkar Goswami in an open letter to Mr. Murthy – I wondered , By...
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7 pounds at birth to 7 pounds at death – lessons in my Granny’s death

life purposeManu -
Just recently as I was sifting thru the ashes of my grandmother trying to find the last few solid pieces of the bone (to be taken to Haridwar to be immersed in the Ganges – a hindu tradition), I reflected on the purpose of life, on the way human beings are judged and how life is really so short. When we are born we are about 7 pounds and the lifeless pieces of bone...
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The three blunders by Tim Cook at Apple

appleManu -
My sister thinks that I am almost primitive for not having switched to an Iphone and my reluctance to make this switch surprised her even more when she recently brought an IPhone 7 for all family members while visiting us from the US of A. Till about a year back I was terribly happy with a Blackberry (BB) till most of the apps that provide daily convenience decided to stop providing BB support and life...
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The only one thing that matters in a Blissful Life

LeadershipManu -
Lets start with a few numbers first to understand the significance of our existence on this planet. If life has been in existence for about 4 billion years, every 80 years there is a complete refresh of entire ‘human’ population and during these 80 years we are one among 7 billion, so by a simple calculation the significance of our existence in relation to life and humanity is about 1.142*10^(-17). Now all the serious mathematicians...
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The imminent crash of the Indian housing market and why buying a house is a stupidity

housing market crashManu -
Two incidents moved me recently... Firstly: Just as I was about to tee off at the Milpitas Golf course this September I heard a ‘fore’ and was fascinated to see a fellow golfer tee off from the backyard of his home. I thought what a life/luxury. I realized that this 7200 yarder golf course is inhabited by a mere 50 families and Zillow (the app that correctly dispenses info on real estate prices) indicated the price of...
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What Infosys’s Vishal Sikka’s tenure teaches us about ‘ Strategy ’

financial run rateManu -
Recently Wipro’s Azim Premji and Infosys’s Vishal Sikka made joint statements about the stresses and tough times that lie ahead in the Indian IT sector and how the global factors have caused immense uncertainty – I agreed, for its been 2 years that I have been - through this blog, making a case that greed, unsound economic decisions and self-fulfilling political pursuits by nations and central banks have pushed the world to a brink of...
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The Savers Dilemma

FinanceManu -
During a recent trip to the US, I happened to meet many young executives from the Silicon Valley, doing relatively well and perhaps in the 95 percentile of income group but all fed up with lack of options to generate alpha on their idle cash lying in their savings / checking accounts. And that too in one of the most advanced and efficient consumption driven economies on the planet. One relatively accomplished executive (we’ll call him John)...
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The day India’s fate changed for better

black moneyManu -
I was in the UK attending a tourism meet when I was raising a toast for Trump, not because I agree with his indiscretions etc but because I was right. I was right in believing in June just after Brexit that Trump would really prove all pollsters wrong. And he did. But what greatly enhanced the feel and the high of the bubbly on my tongue that evening was the announcement of demonetisation and...
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Goodbye Dr. Raghuram Rajan

Economic crisisManu -
Once upon a time there was a great manager in a great organisation who did wonderfully well. He was there on the basis of his competence and past track record. He had many great predictions to his credit and was a person respected for his knowledge and competence in his subject. His boss though was a typical type A personality, rags to riches, rose to the top of the corporation, almost uneducated, but a man with...
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The stark similarities between Donald Trump and Arvind Kejriwal and why Donald could well be the next most powerful man on the planet

arvind kejriwalManu -
Balls of steel was a common expression that everyone used once in a while but rarely during a public discourse – till the time Donald Trump emerged. His candidacy - wherever it has reached so far (1001 delegates on 1st May 2016 and at a kissing distance from republican nomination and by the time I post this piece he would be a definite GOP candidate) leaves some serious lessons for each and everyone in the corporate...
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Sureshot failure of Ecommerce and its underpinnings in the Indian mindset

financial bubbleManu -
A few days back I was oppressively put off by a mountain of garbage on my way to work and this area is Koramangala – The fulcrum of ecommerce revolution in India, with highest per capita in the country,  home to dozens of startups, stone’s throw from the offices of flipkart and Accel partners (the posterboys of ecommerce and PE funds). While my belief in Modi’s Swachh Bharat and Acchhe Din only sees a new low...
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The Story Greed, Deceit and its effect on Organisational Culture

executive bonusesManu -
When I first read Greg Smiths resignation letter 3 years ago on the ides of march, I knew something wasn’t right in the way financial institutions operate. A myriad of thoughts ran through my mind. When we trust the people who advise us and implicitly follow the financial institutions that handle our hard earned money, we believe that we are buying professional advice at a fee that is normal. Reality across the financial...
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The Run Rate Conundrum – ‘Or the beginning of The Great Depression’

Economic crisisManu -
Being a citizen of a country obsessed with cricket, the only run rate that I ever knew was the runs that a batsman makes per over and that i thought defined the run rate - till recently when I realised that even businesses (read new e commerce world) are getting discounted and valued on their run rates. It must be very interesting for those old brick and mortar industrial houses such as the Tatas...
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The Futile Rant About Stress and Work-life Balance

LeadershipManu -
Every Sunday newspaper supplement invariably carries an interview of some CEO or a leader with an opinion on work-life balance and how the same has become so vital in today's busy industrious metro 'something' lifestyles.  Advice is freely available that ranges from ideas such as 'Ways of switching off from work', 'The power of saying no', 'Taking regular holiday breaks' to 'Finding specific time out for hobbies' and 'stress management'.  The misanthropist...
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Martians, Modi and A Challenge for The PM

performance evaluationManu -
For the fear of being left behind I thought it imperative to opine on my Prime Minister for whom I voted and also wanted to write a non economic, easily comprehensible, data-free article that anyone can understand especially my international audience. I haven’t been as amused lately as I am now, looking at the various marketing machineries for Modi who has been creating an aura of invincibility and humbling the achievements of Mangalyaan in comparison of what...
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BlackBerry And The Art Of Becoming Irrelevant in the Business World

LeadershipManu -
Around the time when Mark Zuckerberg was floating around in the dorms of Kirkland House figuring out Facebook (FB) or allegedly plagiarising the Winklevoss brothers' ideas, the market cap of BlackBerry (BB) was about US$64 billion. Fast forward to 2015, the market cap of FB is at about US$225 billion while BB is less than US$6 billion. There was a time when owning a BB was associated with busy high-level corporate executives who always felt the need to be...
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License to Corruption

LeadershipManu -
Research and data can throw rather interesting theories and a recent one by Uma Karmakar, a Harvard Professor and Bryan Bollinger of Fuqua threw up an interesting argument. Their research drew a correlation that shoppers who brought their own bags to recycle would tend to buy more organic versions of food. One green action led to another. But the same people were most likely to buy ice cream, chips candy bars and cookies. These shoppers weren’t...
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Is Life and Commerce – a Casino?

LeadershipManu -
GMAT is a popular exam that most MBA aspirants appear for. And the sample tests available online throw up a very interesting food for thought. If one is just hovering around being an average or just above average (Joe Bloggs) in academics he/she would score about 550-570 out of a total of 800 ie 65 percentile (approx) if that person were to mark the entire exam randomly as per ones gut, the score would...
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The Hero who moved me

LeadershipManu -
More than often our lives get crowded by motivations that we draw from the super achievers, the great scientists, the billionaires, the inventors, the business leaders who have made an amazing difference to the planet and to the mankind. Mine does too. But a few days back my wife and I visited Mallaya Hospital Bangalore, for a general health checkup and while waiting for my reports that were seemingly taking an infinite time I was...
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How Boards expedite the demise of some of the best Companies

LeadershipManu -
We were in absolute-absolute awe of TESCO during my days in the UK, during the hey days of TESCO. The retailer had established itself as the most efficient company, churning out QOQ of phenomenal growth, managing its working capital cycle so beautifully that 3 months of working capital cash (zero debtors and 3 months creditors) allowed it to become the most wealthy real estate company as well. Sir Terry Leahy was regarded as a business...
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The great Indian election tamasha and the 6 lessons for the CEOs in corporate world

LeadershipManu -
The recent Indian elections have been interesting for more than a few reasons and the resounding victory with which the ‘allegedly fundamentalist and polarising’ BJP came to power has some deep rooted lessons for the senior management in the corporate world. 10 years was a real long time for ‘the messiah of youth’ Rahul to grab this opportunity and redeem the vouchers of confidence that were secured with the grandson of Nehru. But alas this opportunity...
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Negligible marginal utility of Governments

PoliticsManu -
Circa May 2004. I was holidaying in Binagudi (a remote village in West Bengal) when the India Shining Campaign of the incumbent BJP government was almost set to get them back to power and they lost. Congress put up a good show and Sonia Gandhi / Manmohan Singh was set to become the PM. I had intermittent access to television but saw AB Bardhan (Of Communist party that was to be a key ally...
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Case for appointing Google as the Central Banker

Economic crisisManu -
5 years after the worst economic meltdown (US housing et al) as i watch the indices erode shareholders wealth and the Indian currency plummet, i cannot help but muse over the underlying cause of economic crises in different parts of the world. I have read of more than a handful of well known economists (Nouriel Roubini, Peter Schiff, Ron Paul, Raghuram Rajan etc etc) who claim to have predicted the housing bubble and almost all...
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Warmth – An essential leadership tool

LeadershipManu -
One of the most important tools of leadership is warmth. That’s something, which can neither be taught to a leader nor can it be acquired. The gait of true leaders can be recognised from miles away. Their warmth, way of interaction with their colleagues, a gentle pat on the shoulder, a smile or a greeting (without expecting one in return) are powerful conduits of influence that align organisations in the directions of common compelling goals. I have...
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The power of dissent

LeadershipManu -
The best service that a company (striving to become great – if it’s already good) can do to itself, is to allow dissent. More than often the culture ‘my way or highway’ stems from the top, driven by the success or falsely assumed success of entrepreneurs. When God made man, it’s most unique and efficient creation, he whispered into the man’s ear “you are my best and most intelligent creation amongst all” and every human...
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Remembering a great Man : Some people who made a difference to my life – III

LeadershipManu -
When I first met Sh. O.P. Gupta (OPG) in 2006 he was a man who was going from strength to strength after having established his credentials as a builder of repute in Jamshedpur and establishing townships and retirement homes in Bhiwadi - A rather unsexy place. For me who was only hobnobbing with the British royalty in three previous years, setting up the group’s first hotel in Bhiwadi (then)...
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Questioning the existence of GOD

Reflections from an Indian PerspectiveManu -
Whilst I bow down in front of the picture of my God with alarming regularity each morning and have unquestionable belief in the existence of an invisible hand that writes our destinies, the recent devastation in Japan has left me with many unanswered questions.And I believe that most of the theories about laws of karma, and existence of God are at best specious.An island nation that rose from...
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Some of the people who made a difference to my life-II

RelationshipsManu -
Golf courses are known to be the playgrounds of the rich and the famous and I have heard that people strike big business deals there. For me the experience was entirely different when during an idyllic Sunday in early 2000, while playing at the Annadale golf course, my path crossed with Brig. R. C. Shard on the 8th hole.He said “Son seeing you for the first time on the...
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Decoding the festival of lights – Diwali

IndiaManu -
Diwali is a festival of lights as light is a metaphor for knowledge and darkness represents ignorance. Therefore this festival of lights symbolises the destruction, through knowledge, of all negative forces- wickedness, violence, lust, anger, envy, greed, bigotry, fear, injustice, oppression and suffering.People distribute sweets among friends and relatives as a token of affection and bonhomie, visit each other’s homes and symbolically start a new year. But lately...
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The un-Commonwealth games

"Great" BritainManu -
I have been receiving messages from my friends in Britain about some juicy dope on the ill fated games that are likely to start in a few days. I am ashamed that some greedy individuals in the position of authority have brought immense disrepute to the nation and to Indians at large.While I am worried about the images that are being flashed across the world media, the collapsing bridges...
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Some of the people who made a difference to my life-I

RelationshipsManu -
Technology has really made our life simple to the extent that applications like facebook allow you to choose a few people from your friend's list and categorise them as people who made a difference. I think tagging people is an unthoughtful way of appreciating or saying ‘Thank You’.Its been a while that I have written anything on my blog and I thought that while I am settling in...
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Commitment

StrategyManu -
Lately I have come to believe that commitment is one of the most important dynamics of strategy. Organisational and personal success is simply a function of commitment. When we lock ourselves into a commitment and leave little choice to ourselves, we as risk takers or decision makers are forced to act prudently and to make things work.2 months ago I took up an assignment in an industry that is...
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The health index of organisations

LeadershipManu -
I stole an opportunity to speak to the CEO of a well known company at a dinner to which I was invited - courtesy of a guest who stayed on my ship a couple of years ago. Of course – being unemployed at the moment is a bit of an embarrassment when one is among a group of people who are – by any stretch of imagination –...
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My blogging inspiration

Life at WarwickManu -
I did not know what a blog really was till Oct ’08 and it took a while before I started penning my thoughts and reflections online.Nicholas Bate is an immense source of inspiration who initiated me to blogging and his lectures at Warwick have made a considerable positive impact on me. Time management, presentation, project management and articulation are some skills that Nick has imparted. He has definitely enriched...
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The case for a perpetual Christmas

Economic crisisManu -
Recession has been the most pronounced word of 2009. Some call it the credit crunch, some just blame it on their respective governments, some blame their luck, the economists write articles analysing the happenings through a seemingly intellectual eye. My understanding is rather simplistic.Recession is lack of confidence. Recession is lack of balance.Imagine a boat ‘the universe’ which is sailing in balance and suddenly everyone moves to one end....
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Happy Birthday Dear Sister

Reflections from an Indian PerspectiveManu -
Many people have made a difference in my life with their love, affection, support, strength of character and above all by being there when I needed them the most. As Tanu turns 28 today I cannot help but write a few lines to wish her Happy Birthday.On 21st Dec this little angel took birth and brought immense joy to our lives and growing up with her was full of...
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The insignificance one’s travel conquests

Reflections from an Indian PerspectiveManu -
In the august company of a meritorious family in the UK I was overwhelmed by the ‘grandness’ of the holiday that they recently returned from. The hostess while ensuring an incessant supply of caviar and champagne regaled the guests throughout the evening with her travels on the finest cruises and the number of countries the family visited this year.The sceptic that I am at times – I subtly asked...
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Strategy of academic convenience

Life at WarwickManu -
Academicians have a habit of mutating well established theories, changing a few words, mutating the shape of models and reintroducing the old wine in a self styled bottle.Google (verb.) ESCO – it means nothing to anyone on this planet (not an iota of connection with strategy) yet students who did not believe in the ESCO model were allegedly the lesser mortals in the world of strategy.No one really knows...
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Being Awesome!

Life at WarwickManu -
During an engaging discussion with a fellow colleague, I was taken back to the memories of some wonderful motivational and self development sessions where Nick Bate advised us with clinical sharpness – ‘one way to succeed and to be happy is by being awesome in whatever you do’The same discussion happens year after year. Nick says just be awesome. Students say, its just not possible because political correctness and...
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Bernankonomics

Economic crisisManu -
Economics is quite simple really. Ask your mother who manages a home in the resources available to her. She has no problem in managing her home or saving a kitty for a rainy day. Irrespective of one’s position in the pecking order of financial freedom, the lady of the house always manages within her means.Ben Bernanke (BB) thinks otherwise. He wants the eastern world to spend beyond their means...
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The Global rant about carbon emissions

EnvironmentManu -
Top leaders of the world O, B, S and the likes amuse me. Their rant never stops about CO2 emissions and the impending urgency of doing something about it. And they want India and China to reduce the emissions to half.The developed world (read G8) has enjoyed the pleasure of depleting the world of its fossils and fuels for the last 100 years and have failed to acknowledge their...
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Dollar’s hay days are almost over

EconomicsManu -
Saddam Hussein was a tyrant and he cannot get any sympathy for any of his actions. But he was not executed for what he did to the Kurds or the alleged possession of weapons of mass destruction. He was executed because he started selling his oil in Euros.For a significant period of time the US of A has been an effective global policeman. And rightly so – because...
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Mahatma Gandhi’s (Bapu*) greatness was His simplicity

IndiaManu -
Google paid a befitting tribute to the apostle of peace Bapu, on his 140th birthday, by putting his simple picture on its mainpage. Bapu achieved through non-violence what the wars of the world have failed to achieve.Bapu says…I have found that life persists in the midst of destruction. Therefore there must be a higher law than that of destruction. Only under that law would well ordered society be intelligible...
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My first week at school a year ago!

Life at WarwickManu -
Just as the new set of students on the MBA ‘conveyor’ start their year long journey tomorrow, my memories go back to my first week at Warwick. Excitement levels to their hilt. It was an amazing amalgam of excitement and nervousness. Many amongst us were getting back to books after over 10 years.Fellow students were regaling the groups with their past achievements. The class seemed infinitely large because of...
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The rules of the global game have changed

"Great" BritainManu -
US, Japan, Germany and UK (top 4) contribute roughly 40% of the global GDP and have held this position for a relatively long period of time.Settlement in a western country used to be a thing of pride at one point of time and in some pockets of the world - it still is. In the hinterland of Punjab in India many people would erect large concrete airplanes on their...
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Creation – Preservation – Destruction – Creation (CPDC)

Life at WarwickManu -
Strategy Module has been intriguing. Many of my dear friends were punished with abysmally low marks. I only have one question to ask – is the marker’s belief in his connotation of strategy the final word in the subject? If yes, why can’t his/her ideas be utilized to strategise about dozens of things that are of immensely improvable order in an otherwise excellent school. (This isn’t a forum to...
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The world is still full of very nice people – and the planet has ‘hope’ for itself

"Great" BritainManu -
Search for a room in London can be quite frustrating. As a student one not only fights against time, the onerosity of travel and a diminishing bank balance but also with the issue of potential landlords asking for references, large security deposits and the fear of unknown.I kept my hope high and during one of these searches, I was pleasantly surprised to come across a family that had 2...
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Very Anticipatingly Yours

"Great" BritainManu -
In 1928, philologist and lexicographer H. W. Fowler gave a new order to salutations and closures in letters and confused the world amongst sincerely, faithfully, truly and very truly. Even though I have utmost regard for the English language (as this is one common thread that binds the world), last few weeks of writing business letters (basically request for job letters) left me wondering. Why??Gone are the days...
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The British Summers

"Great" BritainManu -
Human beings in general have a habit of being in a denial mode. Last year for the 1st 9 months of 2008 the economists of the world were in a denial mode about recession and made the world believe that recession might never strike and could possibly be averted. It took a Lehman and a dozen banks in succession to formally declare recession. And by that time it was...
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Dissertation Blues

Life at WarwickManu -
One of the hot topics of discussion these days is the pending dissertation to be submitted by the ides of September. A paper comprising of some 15000 words.I am convinced that this dissertation is a ‘high quality’ and ‘thoughtful’ – cut copy and paste. And people have been vehemently disagreeing with me. Some have made library their home. Some have become insomniacs and some are just too nervous.Well if...
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The degenerate society and the economic crisis

Economic crisisManu -
I was travelling to Nuneaton recently on a bus that goes through Bedworth. A large number of people go to Bedworth or go from Bedworth maybe because that is the only place in vicinity that has a Tesco, Aldi and a few other stores.The bus stopped at a traffic light to let the pedestrians cross and then I saw an old lady (if my guess is right she must...
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Customer service – a science or an art. Can it be taught???

StrategyManu -
Singapore airlines (SIA) has been discussed to a point of irritation during the last few months during my MBA. And yet I often reminisced – the airline must have done something right to have been adjudged the best airline for the last over 20 years. Even though I am yet to travel on SIA, I know what they must be doing to be where they are.My recent to...
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The great American dream

FinanceManu -
I landed at the JFK some 2 weeks ago with a thought that I am visiting a country that is nursing a severe recession and almost expected to see it with my naked eyes. My objective was to identify one catalyst that made ‘The great American dream’ and made America the ‘land of opportunity’.It didn’t take me long to figure out.I was humbled when I visited the Ground Zero...
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Investments and Risk Management

Life at WarwickManu -
The last of my academic modules at Warwick Business School ended at an absolute high.The Investments and Risk management was a great module. Prof. Ron Watson of Rutgers Business School took us through the finer nuances of valuations of bonds and shares and gave an interesting view about the world economy.Prof Watson has an enviable experience in the Government (Sr. VP Federal Reserve bank of Philadelphia), Private Sector (CEO...
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Make competition insignificant

StrategyManu -
As a Master of Business Administration each one amongst us continues to search for an elusive formula that can make the competition insignificant. Whether it’s Strategy or Marketing or “The blue ocean” - the quest is the same.As the General Manager of Springfields, Simla, I had many challenges of dealing with a hotel marred with a union problem, high fixed costs because of a relatively small size and extreme...
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India has finally matured and is shining

Reflections from an Indian PerspectiveManu -
Irrespective of what the intellectual capital of a country is, the election results of the largest and most successful democracy of the world are a reflection of the ideology of the country’s population at large. I am ecstatic that finally religious fundamentalism and baseless contentions of regional parties (that had been a drag on the country’s progress since the last 5 years) have been resoundingly ignored by the populace.The...
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Doing your best and a bit more..

Life at WarwickManu -
This is a pleasant and a welcome week while we are attending Prof. Robert (Bob) Johnston’s Service Management. Having spent a bit of time managing luxury hotels, I wondered what all and how much I will be able to take from this module.ButProf. Johnston (a senior hotelier himself) has put together one of the most interesting modules using more than 30 different models in which managers can reflect upon,...
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Green shoots of recovery

FinanceManu -
The world markets have shown resilience in the last few weeks and while DOW is up by 29% since the black Monday on the 9th March, some other markets have gone up by over 50%.It is believed that markets discount the future roughly 12 - 18 months in advance and if history is anything to go by, recessions do not last a lifetime. And recessions of this magnitude perhaps...
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MBA is almost over and the goodbyes are going to be killing

Life at WarwickManu -
I have seldom had a sinking feeling. Today as I think that it is just a few more months before we go our separate ways, my stomach churns. Because the opportunity for the 78 of us to get together under a single roof might not come again.I cannot begin to express how delighted I am to be here with wonderful set of people from such diverse and rich backgrounds....
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Unemployment is here to stay forever

Reflections from an Indian PerspectiveManu -
A few months back I was woken up on a dreary day with a strange commotion outside my window and when I drew the curtain to peep hoping that the bright sun would not wash away my sleepy stupor all I could see was a plethora of high tech machines with bright flashing lights on top and personnel in bright jackets running from one end to the other.I thought...
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India 4 of ∞

IndiaManu -
To most people, India is the land of the Taj Mahal, which was built by the fifth Mughal; Shahjahan in 1650, He loved his wife so much that she travelled with him everywhere and in one of the military campaigns; she died at an age of 39 while giving birth to their 14th child. She asked him to show the world how much he loved her and so came...
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Strategy – a fallacy?

Life at WarwickManu -
Much has been said and written about strategy and how companies rise or fall as a consequence of decisions taken (accidentally or intentionally) over a period of time.If strategy was a science it could easily be taught and cracked and theorised and as a consequence of this no company would ever falter because enough evidence and data are available to learn from. Yet – companies continue to make mistakes...
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Thank you Professor Cockrum

Life at WarwickManu -
We had only heard some tales about Prof. Cockrum and Entrepreneurial Finance, before taking on this module.Some said you need balls of steel to survive this. Some said he is a devil, some said he is GOD of his subject.But having worked 16 hours a day for 5 straight days, I can say this with a degree of confidence that this is the best thing that not only happened...
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A week to remember

Life at WarwickManu -
What an amazing learning curve !! As students of MBA each one of us strives to be an entrepreneur and some of us will actually make the cut some day. Prof. Bill Cockrum’s module on Entrepreneurial Finance has been the high point of this MBA. One seldom comes across teachers who have a passion to make each class/lecture the best that they ever delivered and have the wealth of...
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India 3 of ∞

IndiaManu -
The first Rolls Royce came to India in 1908 for the Maharaja of Gwalior and by 1947, the Indian streets were haunted by some 1400 Rolls Royces: The maximum sold in any country in just under 40 years in those times. The traffic jams caused by the cars of the Nizams of Hyderabad, had swarms of poor compensation seekers hoping to have aged relatives run over by his car.
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Warwick – A great value

Life at WarwickManu -
“Small courtesies sweeten life – The greater ones ennoble it”More than often we ignore small courtesies in life because we fail to identify them. While discussing my MBA with a fellow friend who is reading at a top business school in London, I was pleasantly surprised at the great value Warwick offers.Value is not only in money. Value is in value addition, value addition thru small courtesies - but...
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Relationships – The Essence of life

"Great" BritainManu -
And I always thought that human memory was short and out of sight is out of mind.No!!Easter vacations gave me a chance to write to some families in Britain. These are people who stayed on my ship when I was commanding a happy ship ‘Charaidew’ some 7 years ago.At that time the average age of each of my guests was 65+ (I wondered why – but we charged over...
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India 2 of ∞

IndiaManu -
India was primarily the abode of the Dravidians. And then came the various invasions. The Aryans invaded 5000 yrs ago, Huns in 5th century, the Mughals in the 14th century and the British in the 18th. India has come a long way and that is the reason why this country is a melting point of so many religions, languages, cultures and sects.The propensity to compromise and co-exist when survival...
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True Love

MoviesManu -
All his life her love kept lingering around him like a perfume but he could never have enough of it. Yet - even in adversity he did all that he could for her and got her the absolution from the burden with which she died.She was too proud to accept that she could not read or write – and she made the ultimate sacrifice by confessing that she signed...
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I miss my coffee lounge

Life at WarwickManu -
I am longing to get back to the class on the 14th for Entrepreneurial Finance.I regret I could not capture every single moment of my life at Warwick and this blog should have been started six months ago. Actually I did not even know what a blog really was - Till recently when I almost paid a fairly large sum to get one going and was rescued just in...
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India 1 of ∞

IndiaManu -
My blog is too small a forum to appropriately describe the richness and expanse of this magnificent country. I will still make an effort each time I write..Mark Twain wrote after his visit to India at the end of the 19th century. "This is indeed India!!!. The land of dreams and romance, of fabulous wealth and fabulous poverty – of genii and giants and Alladin Lamps, of tigers and...
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OSCARS ARE RIGGED

Reflections from an Indian PerspectiveManu -
Some of my classmates said they cried while seeing the slumdog.I wondered why?Was it upon seeing the abject poverty and deprivation of an average Indian projected in the movie?OrWas it upon seeing the clinically sharp intelligence of Jamal Malik?I have two strong opinions here1. The Oscars are biased towards the western producers and directors.The reel life story of an imaginary character was indeed a good depiction of a person’s...
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The chronicle of a reluctant blogger

UncategorizedManu -
It’s been a while since the thought of blogging has been lingering in my mind but making a start is always a challenge. As a foreigner I have come across many surprises in the last six months but Slumdog is seemingly the perfect trigger for this start. I hope this lasts.
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MANU RISHI GUPTHA

CEO and Founder - MRG Capital - SEBI Registered PMS

MBA (Warwick Business School, UK) with 25 years of senior management experience in the hospitality industry and Fund Management. Held top management position in a number of pioneering hotel projects. Successful track record in asset, financial and operational management, market development, stakeholder relationship - development and management, customer and human capital retention.

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