Categories
Anecdotes

The strangest thing happened on the flight

A flight years ago from Joberg to Nairobi. Our plane is delayed for something like two hours due to the fact that they can’t find the co-pilot. The whole time we’re sitting on the plane. Eventually the captain comes on air and says that he’s sorry for the delay, but they really can’t find the co-pilot. He then informs us that he’s going to fly the plane anyway by himself. We are told that this isn’t a big problem what with flying aids and the like, but if anyone has any misgivings then they are free to leave the plane now. We all look at each other in a bemused way, but nobody leaves the plane. Hey, this is Africa.

We take off and everything is cool until a few hours into the flight the pilot comes on-air once again. He has a very thick English accent. He says something like;

“Ladies and gentelemen, this is your captain speaking. Everything is in tip-top shape and we’re flying along just nicely here on this beautiful African day. Just a small matter for your attention – I have to leave the cabin for just a moment, which as I’m sure you’re all aware will leave us with an absence of pilots flying the plane. Do not be alarmed as we are flying on auto-pilot and I should not be gone from the cabin for more than a minute. Thank you for your attention.”

click.

We all just look at each other as the little cabin door opens and the pilot steps out. He takes a large elastic band from out of his pocket and wraps it around the door handle, thus holding open the cabin door. He then walks down the central aisle of the plane to the bathroom at the rear. A hundred heads turn to stare at him as he walks casually by.

A moment after he enters the bathromm the plane enters a small pocket of turbulance, jolts up and down suddenly, and we watch in disbelief and not a small measure of horror as the elastic band snaps and the cabin door closes. One of the flight attendents scurries back to the bathroom with one of those frozen-in smiles and emerges moments later with the pilot tucking in his trousers. He half sprints down the aisle and then comes to a sudden stop as he surveys the situation before him. Not a word is said by any of us. We just watch.

There is a hurried conversation between the stewerdess and the pilot, which results in her rushing to the back of the plane and coming back with a small fire-axe. The pilot takes the axe, walks up to the door and starts chopping his way through. In his enthusiasm he makes the hole a little bigger than what was probably required. He hands the axe back to the stewerdess, reaches through the hole and unlocks the door. He enters the cabin and closes the ruined door behind him, even though we can plainly see him now through the gaping, jagged hole. He sits in his chair, dons his head gear and makes a small announcement;

“Ladies and gentlemen, this is your captain speaking. We’ve just experienced a slight technical diffuculty, but we now have matters under control. The weather in Nairobi is for scattered showers and thunderstorms. Thank you for your attention.”

click.

from Quora

Categories
Technology Video

Inventing the future:Inside the MIT Media Lab

Categories
Links

Linkfest:Jan 16, 2013

Some stuff I am reading today morning:

NSE bans Deccan Chronicle trading (BusinessLine)

MNC delisting plans get a jolt (ET)

Axis Bank’s retail focus is paying off (Mint)

Pledged shares take a toll on Arshiya (BS)

Pots & panellists (MediaCrooks)

Investing is hard because of bias (Subramoney)

Chasing the cat (TRB)

Learning to be a central banker in 10 easy steps (Cassandra)

Slavery, an Epicurean business model (PsyFi)

22 Insights from the greatest investors in history (BusinessInsider)

Categories
Quotes

The Cindrella Principle

Everyone thinks life is one upward, smooth trajectory.  They think of Cinderella in her big castle and forget that she spent decades scrubbing floors, being beaten, and locked in a cold room.  Between “Once upon a time” and “Happily ever after” a lot happens.  Not all of it is good.-by Joshua Kennon

Categories
Observations

Does tracking insider buying and selling work in India?

In theory, insider buying or selling is supposed to be a great indicator of future stock performance.

But I wonder if it works in India.In India, insiders (aka ordinary employees) are usually the last to know anything !!

Some real life anecdotes to illustrate my point:

1.Some friends worked in Financial Technologies when all it made was Odin Software.They got stock options in the 20/30 Rs range.As soon as the stock hit 100, almost all the employees sold their shares…thinking yeh sau se upar thodi jayega.Within a year or so, FinanTech crossed into 4 figures or more !

2.Another friend worked in WNS.He had a ton of stock options.WNS listed handsomely and once the lockin period was over, he had an opportunity to sell at 40$/share.He held on as he read a research report (!) which said that WNS would be the Infosys of the BPO sector.He got out a few years later around 9$/share

3.This is an example of classy inaction.eClerx provides KPO services to clients such as Lehman,MS etc.In the financial crisis of 2008, the stock was hammered out of shape and reached sub 100 levels.No one,not the employees nor the promoters bought their own stock in their own company which they know so well.Around 2 years later, the stock crossed 700 Rs !

These examples suggest tracking insider buying/selling in India is probably a huge waste of time.You are better off doing your own research and following your own processes.