Categories
Links

Linkfest: January 02,2017

Wishing all readers a rocking 2017 !

Some stuff I am reading today morning:

Banks cut lending rates (ET)

IPOs emerge as 2016’s cash cows (BS)

Bonds in India see best year (Bloomberg)

FPIs pulled out $4 Billion in December (BL)

Here’s what happened in 2016 in the markets (Prashanth)

Thoughts on the NSE IPO (Subramoney)

Harsh Mariwala on his L&T Finance purchase (MC)

Don’t be an underpants gnome (Money Commando)

Seeking the elusive edge in active investing (Aswath Damodaran)

Fraud in Silicon Valley (Fortune)

Categories
Personal

New Year Resolution

Came across this amazing nugget about Bill Gates:

One of the things that is great about Bill is that he takes time to read. He usually reads at least one non-fiction book each week. Here is the richest man in the world, who can allocate his finite time to any activity he wants, and the best thing he can think to do with his time is sit in a chair and read.

When people think about the lifestyles of the rich and famous, maybe they think of wild beach parties in Bali. However, sitting in a chair and reading a good book is also part of the lifestyle of the more intelligent of the rich and famous. And I can partake of the lifestyle of the rich and famous simply by buying a book and sitting in an easy chair and reading.

Why don’t I read more? Is it because of the cost of books? No. The amount of time I spend reading is limited primarily by my willingness to allocate time to that activity.

My mom lives in a retirement community. She brings a kindle with her when she has to stand on line in the cafeteria so she can read while she waits to reach the steam tables. She asked another person on line why he was just waiting without doing anything else. The man replied, “What does it matter? I’m retired. I have all the time in the world.”

My mom responded, “What do you mean? You’re in your 80’s. You don’t have much time at all.”-wrote Ken Caldeira

 

I have taken heart from this and have resolved to read a non-fiction book every week this year.

Hope I stick to the New Year Resolution !

Categories
AlphaIdeas

Blog Break

Taking a blog break for the Xmas Holidays

Best wishes to readers and their loved ones for the holiday season and for a very happy 2017 !

Categories
Links

Weekend Mega Linkfest:December 23,2016

Some off beat reads for the weekend:

Rajat Sharma:India’s most powerful editor (Caravan)

Demonetization is ‘sickening’ and ‘immoral’ (Forbes)

Story of Sukh Sagar restaurants (YS)

Proptiger: No roar or bite (The Ken)

Why real estate in Kolkata is screwed up (Scroll)

Ramanujan and Magic Number 24 (Swarajya)

2 kind acts in 2016 (BI)

The Shia Militias of Iraq (Atlantic)

Otto Bell on Mongolia (Guardian)

Indus Treaty Interrupted (Dawn)

Sleepy Driving:Silent Killer on Indian Roads (Team BHP)

Spoof:Best Photojournalism of 2016 (Onion)

Why I quit my job and moved to Bangkok (NatGeo)

The last Marriage Broker (Open)

How would religions react if we made contact with aliens? (BBC)

Categories
Excerpts

Why FPI’s will exit EMs in 2017

The dollar is supreme and the only giant sucking sound, we have heard so far, is of money going back to the United States and that is something which doesn’t bode well for flows to emerging markets, but there is more fundamental problem out here which is the emerging market growth model is sort of under serious question and this is what is going back to my earlier point about Trump presidency with two changes that they are going to make or are very serious about making.

One of them will pass for sure, the other one, I am not sure but this has major implications for India. Take the first thing that they are going to reduce the corporate tax rate, from 35 or something that they are talking about to 15 or 20 percent, this is huge because here is the largest market in the world which is reducing its corporate tax rate from 35; effective it is a bit lower but 35 is the top rate down to 15-20 or something, that is huge because why would anyone invest outside their domestic market and it is so large, when the corporate tax rate is being brought down so dramatically.

The second is much more controversial but with even greater implications for India which is that they are discussing something called destination tax. The destination tax implication is that exports are going to be tax-free and imports are going to be taxed – that’s a very crude way of putting it but that is what they are talking about. If that were to go through – that would mean the entire outsourcing model to emerging markets or even exporting your way to prosperity model which is how many emerging markets have grown rapidly, Korea, Taiwan, China – that model is going to be seriously impaired.

said Ruchir Sharma