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All About Billionaires

All about billionaires

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The Tata Way

wealthymattersHave you ever wondered what makes a business last many generations? If so, the Tatas can teach you some things.Tata began operating as a trading firm in 1868.Today,the business consists of round a 100 professionally managed companies. Read the essay below by Ratan Tata to get an idea of the attitude that builds multi-generational businesses:

“I believe it’s really important to have companies survive over the longer term. I hate to see major corporations disappearing from the scene because someone has cashed out, because the managers have been unable to escape their comfort zones, or because boards have not been sufficiently nimble to change with the times. When these things happen, decades of effort and innovation go to waste. It’s bad when businesses don’t fight it out, whether the enemy is a competitor’s new product, an industry-transforming innovation (such as transistors), or the impact of something clearly outside a company’s control (like climate change). Read more of this post

Don’t Underestimate The Power Of Enduring Companies

wealthymattersHere is an excellent essay by Marcus Wallenberg,chairman of SEB (Skandinaviska Enskilda Banken),founded by his great-great-grandfather in 1856. He also serves as the chairman of Saab and Electrolux and sits on the boards of directors for Investor AB and AstraZeneca, among others.

Joseph Schumpeter focused his attention largely on new businesses and their role in eating the breakfast of established companies. But in my view, “intrapreneurs”—risk takers on the inside—are just as important as entrepreneurs in promoting new ideas and new technology.

Read more of this post

Lessons From 22 Year Old Shoes


Do you still have a pair of shoes that are 22 years old? I do.

They still fit, but that isn’t why I keep them. I haven’t worn them for more than two decades. They are beat up and have no traction, which is kind of important for a basketball shoe. I keep them, despite pleas from everyone to throw them out, because of the lesson they taught me and that I never want to forget.

Back in the early 90’s, when I was a young teenager, I wanted to have the very best. Since I was easily influenced by marketing and friends, I wanted to have the first pair of Nike Air Force 180 shoes. How could you pass up the Admiral, David Robinson, and the commercials that went with it (now that I watch it 20 years later, it’s pretty embarrassing, but I promise it was awesome at the time)?

I don’t even like the Spurs — I’m a Jazz fan — but Mr. Robinson was pretty awesome, plus there just aren’t a lot of good athletes to admire. But anyways, that’s off-topic. Read more of this post

Oil Economics

wealthymattersSo how will falling crude oil prices benefit India? The slide in crude oil prices to four-year lows is a huge positive for India as the country depends on imports for more than three fourths of its consumption. It is expected to help improve pivotal macroeconomic indicators such as current account and fiscal deficit besides giving a fillip to energy firms, tyre makers and consumer companies.

India’s net imports of crude oil amount to about a billion barrels every year. So, if crude oil prices average about $100 per barrel in the current fiscal (vs about $106 per barrel in the first six months of the financial year), the country’s import bill will fall by $10 billion (about Rs61,000 crore), which is close to one-third of the current account deficit or CAD in 2013-14. Analysts say that if crude oil averages at $100 per barrel this fiscal, India’s CAD will reduce to 1.3% of GDP from 1.7% in the previous year. Read more of this post


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