Weekend Mega Linkfest : 19 October, 2018

Some off beat reads for the weekend:

Jamal Khashoggi’s last column (Washington Post)

Modi & Markets (Dhiraj Nayyar)

Mohan Bhagwat’s Vijayadashami Speech (First Post)

Do-or-Die for Congress in upcoming Assembly Elections (Outlook)

A Million $ Blackmail Scheme (Narratively)

My Great Grand Father – The Bundist (NYBooks)

The myth of meritocracy (Guardian)

John Oliver on Saudi Arabia (Big Picture)

Trade war fallout on China’s nouveau riche (ATimes)

Travelogue: Dubai (Team BHP)

Gossip: Digvijay Singh in the doldrums (Gossip Guru)

Inside Facebook’s wild early days (Wired)

History: Malala & the Battle of Maiwand (Madras Courier)

Spoof: Sprinter feels like an idiot (The Onion)

Obituary: Paul Allen (NYTimes)

Linkfest: 19 October, 2018

Some stuff I am reading today morning:

Your PPF money is going to bankrupt Air India (BQ)

Builders stare at credit crunch, defaults (Mint)

What Hathway & Den deals mean for Reliance Jio (Mint)

Tatas eye stake in Jet Airways (BS)

On the current NBFC Meltdown (Big Investor)

Netflix needs lower prices to woo India (Reuters)

How he makes Billions selling idlis and dosas (Rediff)

China’s stocks fall to 4 year lows (SCMP)

The worst kind of bear market (Common Sense)

10 Commandments of Investment Management (Mohnish Pabrai)

Financial Tips for Travel in Diwali Vacation

(Disclosure: This post is sponsored by Credit Sudhaar)

Travel is always exciting. Not only it lets one unwind but more importantly it lets one learn about culture, cuisine and above all self. Whether one is backpacking, going for adventure or hiking in jungles, travel is liberating.

Most of the urban dwellers travel during vacations owing to the school going kids and other wise work pressures. Since Diwali season is just round the corner and people may be planning to travel to fully optimize the vacation season, following are the must follow tips to keep a check on the finances.

Plan the cost of travel

Budget

The travellers do plan the cost and budget for the travel. However, it is only wise to have an extensive budgeting done. Many a times the travellers fail to take into account smaller expenses that clubbed together can inflate the cost. Expenses like a coffee break, eating out, local travel cost etc if are not planned properly then can result into a much higher expense. Buying souvenirs, tiny demands from kids etc add to the cost of travel, which usually get ignored while planning.

Hotels and travel

If one has missed on planning and booking way in advance then it will be prudent to look out for last minute deals. These can be as sweat as the one booked way in advance. At times these can even turn out to be cheaper. A good deal can help in bringing down the cost of vacation.

Stick to the budget

This is as an important task as would be efficient planning. Many a times the travellers just let the expenses go beyond the original budget. This naturally puts pressure on the following months’ budget and the available disposable cash for day to day expenses may get compromised.

Use credit card wisely

Stemming from the point of sticking to one’s budget, judicious spend on the credit cards is that one must adhere to. Ease at which the cards can be swiped generally make one go much beyond the planned and earmarked funds. The option to pay up in parts is another factor that makes one complacent and let go of the controlled usage of cards. Especially when one is having good time, the emotions are high and the travellers do tend to go over board. One must realize that the credit on cards comes with most high interest rate.

Plan for repayment of obligations

The travellers would also need to plan to meet their obligations on repayments. Whether it is the utility bill or an EMI of loan or the due date of credit card, one cannot afford to miss out on the payment dates. The bank account has to be adequately kept funded to avoid any misses. Not only missing the payments will attract penalties but non payment of loans and other credit outstanding can lead to low CIBIL score.

Travelling abroad

In case one is travelling abroad, then the following needs to taken into consideration to keep the costs under check.

Consider signing up an insurance cover

Medical emergencies can knock one down any time. While travelling abroad, if one is not covered for any such exigency and god forbid, in case of any such requirement, the financial implication can be devastating. The medical expenses if not covered can be financially draining.

Travel insurance

Travel insurance that is a low cost cover will help against the perils like loss of passport, other documents, delayed flights etc. It may only be prudent to get oneself covered.

Roaming on phone

Your local phone costs a lot if is used while roaming internationally. While some affordable packages have recently been rolled out by the service providers, it may be wise to compare these against the local phone connections. One can get the local phone numbers on the arrival in the destination country.

Follow the above points while planning your travel and safeguard your financial interests.

The Most Important Buffett Story

Source: Morgan Housel

Everyone knows the investing duo of Warren Buffett and Charlie Munger. But 40 years ago there was a third member, Rick Guerin. Warren, Charlie, and Rick made investments together. Then Rick kind of disappeared. Turns out he was highly leveraged with margin loans, and during the 1974 recession had to sell his Berkshire Hathaway stock to Warren for less than $40 a share. Buffett later told Mohnish Pabrai:

Charlie and I always knew that we would become incredibly wealthy. We were not in a hurry to get wealthy; we knew it would happen. Rick was just as smart as us, but he was in a hurry.

Too much, too fast.