For Whom Wealth Matters
June 27, 2012 1 Comment
Measuring in at roughly the size of a sheet of legal paper, the world's largest single banknote is the 100,000-peso note created by the government of the Philippines in 1998. Designed to celebrate a century of independence from Spanish rule, the note was offered only to collectors, who could purchase one of the limited-edition notes for 180,000 pesos, or about $3,700.
May 27, 2012 16 Comments
1. Figure out what you’re so passionate about that you’d be happy doing it for 10 years, even if you never made any money from it. That’s what you should be doing.
2. Always be true to yourself.Figure out what your values are and live by them, in business and in life.
3.Think about what your definition of success really is. Is it externally driven or internally driven?
4. Rather than focus on work-life separation, focus on work-life integration. Read more of this post
September 4, 2011 1 Comment
The last couple of days I’ve been watching the sort of movies that challenged me to think about money theoretically.So to brush up on stuff I last had to deal with some 15 years ago I’ve been surfing the net for the sort of stuff found in basic economics books.In case you too need a small revision or you are totally new to economics here’s a chance to catch up.
BTW I’ve tried to make the whole experience as un lecture like as I can.Enjoy!
Definition : What is Money?
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.
Examples of Money:Cowrie shells,beads,metal coins,paper money,electronic money etc.
Since money involves so many things it is identified by the functions it performs.Any kind of object or secure verifiable record that fulfills these functions can serve as money. Read more of this post
September 4, 2011 1 Comment
‘Money as Debt-Promises Unleashed’ – I watched this documentary last night.It is made by the same person who made ‘Money as Debt’.Here is more about it :http://wealthymatters.com/2011/09/03/money-as-debt-paul-grignon/
This documentary too is worth watching.Personally I found that it challenged my mind to stretch just a bit more to understand the supply of money. Honestly,I think I’d have to watch the movie a couple more times to take in all the implications of the arguments that Paul Grignon makes.The documentary did change my way about thinking about my bank deposits and it managed to convince me that indiscriminate money creation by banks and other financial institutions leads to many systemic problems.But at the same time I’m not able to buy the argument of the earth being unable to support infinite growth.It’s too Malthusian for my tastes.And I believe too much in the ingenuity of man and the abilities of science to accept that the world’s resources are so limited.Admittedly,man may devastate the earth in the short run and pay the price for it but mankind will also learn its lessons well and come up with the right solutions.I also find it hard to see compound interest,investing and modern financial transactions as an unmitigated evil.I believe that every financier is not a gambler. Read more of this post
July 30, 2011 2 Comments
Here are Brian Tracy’s ’21 Laws of Money’.I find them a pretty powerful set of beliefs to have about money.
1. The Law of Cause and Effect: Everything happens for a reason; there is a cause for every effect.
2. The Law of Belief: Whatever you truly believe, with feeling, becomes your reality.
3. The Law of Expectations: Whatever you expect, with confidence, becomes your own self-fulfilling prophecy.
4. The Law of Attraction: You are a living magnet; you invariably attract into your life the people, situations and circumstances that are in harmony with your dominant thoughts. Read more of this post
July 9, 2011 1 Comment
Gold soothes me.Money relaxes me.So I often do the accounts when I wish to relax.Being surrounded by wealth makes me feel good .BTW I don’t have to own any of it to feel good.
The past couple of weeks I have been really stressed out.There are so many things that need to be done that it’s hard to sit down and get any one thing finished before I have to switch over to doing something else.
One of the main ways I have been relaxing,is following the news stories covering the Supreme Court ordered inventory of the treasure of the Sri Padmanabha Swamy Temple in Thiruvananthapuram.
The principal deity of the temple is Sri Padmanabhaswamy ie Vishnu in the “Ananta-sayanam” posture ie in the eternal sleep of Yoga-nidra on the serpent Ananta.Vishnu is part of the Trinity in Hinduism.He is the Preserver.Lakshmi the Goddess of Wealth is his consort.The current temple was built by the erstwhile rulers of Travancore.
Here is a list of what the newspapers have reported as having been discovered in the cellars that have been opened up so far: Read more of this post
June 12, 2011 2 Comments
Below is a favourite but somewhat dated Rakesh Jhunjhunwala interview.I frequently revisit the article to read about how he started out.Every time I wonder how I might be able to do what I want to do with so few resources,I find reading his story inspiring.Also I like his way of limiting risk,dealing with loss , having flexible targets and dealing with unfavourable opinions.The red ink is mine.It’s to highlight the parts I find interesting.As a side note,I also like reading the account of the 1993 blasts,if for no other reason than to remind myself about the spirit of Mumbai and the grit of all Mumbaikars. Read more of this post
June 11, 2011
Mr. Rakesh Jhunjhunwala, combines diverse skills as a equity trader, visionary investor and incubator of new businesses through private equity.He is the first dollar billionaire from India to have made all his money by investing–primarily in stocks.Converting Rs 5000 to a billion dollars is no mean feat.Moreover since he deals exclusively in Indian stocks and often in publicly traded companies, whose shares we all have access to,it’s well worth spending time learning how to invest one’s way to wealth from him.
Firstly,Rakesh believes that the choice of asset class is important . As he says”If you bought gold in 1970 and sold it in 1980, you bought the Nikkei Index in 1980 and sold it in 1989 and then bought the NASDAQ [till before the dot-com bust], you would have made 33% compounded returns in three decades.”Personally, under the guidance of Mr Radhakrishna Damani, he made a lot of money shorting stocks at the time of the Harshad Mehta scam post 1992.As he says,”My decision to aggressively invest in the asset class of Indian equities at the right time was a very important determinant of my success.”As Rakesh believes that the mother of all bull runs is still to happen in India ,for people like us,sticking to Indian securities as an asset class might not be such a bad idea! Read more of this post
March 12, 2011 7 Comments
I graduated in 2000.In the same year I made my first purchase of gold.Since then I’ve been watching the price of gold.The first thing to attract my attention was the relentless upward movement in the price show in the graph below: 
Logic suggested that what goes up in price must come down.So I tried looking for the historic prices of gold to try to see if there was a cycle . Read more of this post
The Money Masters
July 27, 2011 2 Comments
I had trouble sleeping last night and so watched ‘The Money Masters’ on the internet.I found this documentary pretty biased.But that’s not to say that the narrator didn’t make some good points.
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