My Life

   The business of investing is all about predicting the future. When an investor endeavours to predict the unknown and when his thoughts and actions influence the outcome of events, it involves taking risk.    Most times, retail investors flit from being risk averse to being risk-seeking individuals. Conventional wisdom is that when the indices are constantly moving up in the midst of a raging bull market, an investment in stocks is considered least risky. When the markets face correction and move downwards, everyone panics and presses the ‘sell’ button. Stocks are then considered risky assets.    Sadly, as most serious, value investors are aware, the converse is true. Risk is at its lowest when markets are in free fall and is at its peak when markets defy gravity. We must understand that risk is being accumulated as the markets move up and come down when markets collapse.                         ...

   When he saw swallows nesting in the barn for the first time in almost two decades, Slovenian farmer Uros Macerl felt vindicated. His exhausting battle against a polluting industrial giant had been worthwhile.    A role model to some, an “eco-terrorist” to others, Mr. Macerl recently picked up one of the world’s most prestigious environmental awards for shutting down a cement plant owned by French corporation Lafarge in Trbovlje region in 2015.    The 48-year-old flew to New York to receive the U.S. Goldman Prize, which honours “environmental heroes” for their efforts to protect nature, often at great personal expense. In Mr. Macerl’s case, the 13-year fight cost him his marriage. “I’ve paid a high toll with my family... but it also taught my children the struggle was worth it,” the father of three said.                                        Black Snow ...

   Many stories in the Upanishads (interpretations of Vedas), the Puranas (Legends) and the epics highlight the essence of the Guru-Sishya (Teacher-Pupil) relationship which forms the bedrock of spiritual tradition. The role of a Guru goes beyond mere transmission of the essence of the scriptures, for he also imparts the essence of living a disciplined and principled life; and the ideal disciple trains himself to have unshakable faith in the Guru.    The story of Sage Daumya and his disciples related in the Mahabharata shows the many ways in which disciples have been tested and accredited for their guru bhakti. One of Daumya’s disciples, Aruni is tested in the following manner.    Once during heavy rains, Aruni is given the responsibility of preventing the fields from getting flooded. Aruni tries putting up mud packs, but this does not work. So he lays himself on the moat to keep the water away. When Daumya sees this sincere and selfless effort that is also...

   Multiculturalism is part of the Indian society and any attempt to monochrome it will be self-defeating. It was on display recently in Kerala through two opposing developments — a ‘PM Modi fest’ and many beef-eating festivals. One represented the illustration of a report card for development and the other the right to assert a personal choice.    Humans are an interesting species whose history is defined by greed in gaining and maintaining control over resources and sustaining power. Cultural identity has been a central tool in this. A cultural identity is a phenomenon which, among other things, comprises choices by individuals and communities that define aspects of religion, ethnicity and personal habits. However, these identities have also been repeatedly used by the power elite to serve their own interests.    Manipulation and politicisation of cultural symbols relating to these identities have resulted in chaos and destruction. The most glaring exampl...

   India’s economic growth estimates lately seemed out of sync with the dampened feel-good sentiment in the economy. The GDP was growing at a world-beating rate, the stock market was booming, but little on the ground suggested that people were feeling better off.    Consumption and investment behaviours suggested probably not. So when in February this year, the state statistical apparatus estimated that the impact on the economy of demonetization was muted, doubts were cast on its credibility. The dissonance between the statistics and ground reports considerably reduced in the latest released batch of data into which the updated Index of Industrial Production was plugged in.    The GDP data for the fiscal year 2016-17 present a sharp picture of the state of the economy. GDP growth has slowed for the first time in five years, in 2016-17, to 7.1%. The economic recovery that was gathering pace year after year abruptly lost speed last year.    Correct...