Source: WhatsApp Forward
Some stuff I am reading today morning:
IT Dept to probe tax evasion via F&O trades (MC)
BSE-NSE turf war moves to commodities space (BL)
How India’s largest hedge fund deals with volatility (BQ)
How Mukesh Ambani shook up India’s telecom sector (BQ)
Stock Talk : IEX (Mint)
Rupee at 79 against the Dollar (FE)
PPF rate history of last 50 years (Basu Nivesh)
Saudi Arabia’s ‘Oil Weapon’ Option (BI)
When to stop chasing the ‘hot stock’ (Macro Tourist)
Buffett is the anti-thesis of capitalism (Tepper)
As many of you are aware, we had conducted the Alpha Ideas SME Stars Meet last Saturday 13 Oct, 2018 at the iconic Bombay Stock Exchange.
12 SME Companies presented on their own businesses and networked with the Delegates
We had around 400 Delegates from all over India and it was great to host such a friendly and enthusiastic group of investors.
BSE MD & CEO Ashish Chauhan also addressed the audience and that made it special for us.
I will let the pictures do the talking.
Some stuff I am reading today morning:
Firms put IPO plans on hold (Mint)
Sugar Stocks surge (BL)
JSW Steel – Most likely winner for Bhushan Power (FC)
How IL&FS built a road to riches for some (ET)
Will Jet Airways crash land like Kingfisher? (Rediff)
RIL set to unveil big stakes in Hathway, Den (TOI)
Mega Trends in Mutual Funds (Pankaj Tibrewal)
Better to be born rich than talented (Barry)
The startup trying to disrupt PE firms (Institutional Investor)
The fall of the Bin Laden Business Empire (Reuters)
The Book ‘There’s No Such Thing a a Self Made Man’ is written by the late Pralhad P Chhabria, former Chairman of the Finolex Group.
I am a huge fan of Indian Business Biographies as they can teach us more about how to succeed in our own country.
Pralhad Chhabria hailed from a Sindhi family from Shikarpur. His family was very wealthy but things took a turn for the worse when his father died when he was only 12.
As a result, he began work at a tender age of 12 as a shopkeeper’s assistant helping with menial tasks , cleaning utensils etc
The author describes with rare candour the trials and tribulations he had to go through and it makes for a gripping read.
When Partition happened, like other Sindhi families, they had to flee their ancestral homeland with nothing on their backs.
The Chhabrias rebuilt their lives in Pune and the story of how he built the multi-Billion $ Finolex group is truly awe inspiring,
The author explains how he got into the cable business going from shop to shop in Pune. He describes how hard he had to work to get the Defence orders and finally his efforts in setting up his own manufacturing unit.
The author also speaks about his family.The author’s daughter died at a very young age of leukemia and the sadness seeps through the pages
There are many things to learn from the author’s incredible life story.
One anecdote which left an imprint on my mind was when the author meets a former servant of his. Now the servant has become his own master and the author has become someone else’s servant ! The author mulls the following thoughts:
“I realised, as never before, that unplanned events would occur without any warning, and life would keep changing.I understood that I should never be complacent about any situation I was in.And similarly, I understood that though my position at present seemed so hopeless, I must not despair because it would continue to change. No one could tell what tomorrow could bring !”
In another instance, he mentions the importance of networking.
“As a businessman, I also saw the need to have a circle of well-placed acquaintances. Every person who has something to sell knows the importance of being a member of a wealthy, influential circle and of having access to people who can buy or who can connect you with those who will buy”
Another very interesting aspect of the Book is where the author describes his relation with his Guru – Swami Ram Baba.
Swami Ram Baba preached :
“If you are poor- work !
If you are rich- continue working !
If you are burdened, with seemingly unfair responsibilities – work !
If you are happy – well, just continue to work !
Idleness gives room for doubt and fear.
If disappointment comes, please just work !
If your health is threatened – work !
When your faith and hope falters- work !
When your dreams are shattered and your hope seems dead- work !
Work, as if your life was in peril.
The truth is, your life really is in peril. So work !
No matter what ails you – work !
Continue to work – faithfully, dedicatedly and devotedly.
Work with Love, Faith and Patience.
Work is the greatest remedy
For every mental and physical affliction !”
This Book was a late revelation to me and I wish I read it earlier when it was first printed (In 2012)
Pralhadji passed away in 2016 and undoubtedly would have been saddened to see his family fight over his legacy
I would strongly recommend this Book to those interested in Indian Business.