Category: Anecdotes

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Anecdotes BookExcerpt

Aditya Puri of HDFC Bank: Where is the laddoo?

Am reading this book on HDFC Bank called “A Bank for the Buck” by Tamal Bandyopadhyay.

Came across this interesting snippet (Page 150 !) :

“This is a bank that does not know anything beyond business.When we make presentations to our MD Aditya Puri, he says, “Teri unchi English mere ko samajh me nahi aati hai;mere ko ye bata ki laddoo kidhar hai.” Everybody in HDFC Bank understands what laddoo stands for.

The presentations don’t last more than four to five slides.Aditya loves talking to the point.”Paise kidhar hai woh dikha,mujhe aur kuch nahi samajhta hai, seedha baat pe aa.Mujhe tu global gyan mat de.”

 

Am reminded of this famous movie scene from Jerry Maguire “Show me the money”

 

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Anecdotes

Remembering JRD Tata

As news of the joint venture between Air Asia and Tata Sons broke out, I was reminded of the great JRD Tata

JRD Tata is one of my heroes and I admire him a lot.

As most people know, he set up Air India and is considered the father of Indian aviation.

The very humane nature of JRD is highlighted by this incident:

One such happened years back during his visit to the Lockheed aircraft factory in the US. Feeling thirsty, JRD saw two water dispensers at the factory — one for blacks and the other for whites! JRD went straight to the one for blacks. The officials of the factory tried to lead him to whites’ side. But he declined and drank water from the black’s side, stating that he too was a non-white! This act reportedly prompted the authorities of Lockheed to discontinue the practice of providing separate water facilities for blacks and whites in their premises.

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Anecdotes

Remembering Shivaji Maharaj

Today is Shiv Jayanti (birth anniversary of Shivaji Maharaj) and is a state holiday in Maharashtra.

The first known reference to Shivaji Maharaj in British records comes from the London Gazette of February 1672:

“Two day since we received Letters from India, written by the English President residing at Surratte (Surat) who acquaints us with the daily fears they have there, from Sevagee (Shivaji Maharaj), the Rebel, who having beaten the Mogul in several battles, remains almost Master of Countrey, and takes the boldness to write all the European Ministers in Surrate (Surat), that if they refuse to send him such and such immediate presents of Money (which as he puts them would amount to vats sums) by way of Contribution, he will return and ruine that city; That he exacts the like from the Inhabitants, who certainly would comply with his demand, but that the officers of the Mogul, being there hinder them. Which puts them into an extreme Streight, and causes other daily to convey away their richness; many also embarking and transporting themselves into other parts, to avoid the storm they fear will fall up on them” (src: IndianExpress)

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Anecdotes BookExcerpt Observations

Geoge Soros on the difference between broking and market making

Recently, I had an opportunity to deal with Over The Counter (OTC) securities.Since they are not listed, prices are quoted in a large band with riders such as minimum ticket size etc.More often than not, prices are unreliable and vanish when you actually place the order.

In such a scenario, the role of the broker/intermediary becomes critical.But how much should he paid?I find this anecdote from George Soros’s life instructive:

My friend’s father asked me to change some dollars and being conscientious I went to the pain of visiting both of the two markets for this sort of thing,the old Stock Exchange and an orthodox synagogue in another part of town.It turned out that there was a significant difference in the exchange rate, and I was able to get some 20 percent more at the synagogue than at the the Stock Market, which was the only rate that my friend’s father knew about.So I brought him the larger amount and said that I deserved a higher cut, but he refused.

“He said,’You are a broker and it’s your job to get the best rate, that is what you are getting paid for.’ I remembered that years later when I became a market maker in over-the-counter securities.,” George Soros observed.”Because if you are a market maker and can make someone an extra 20 percent and raise your own cut by half a percent that’s different and better than being just a broker.So in the end by his refusal to raise my compensation he encouraged me to be a market maker rather than a broker, which turned out to be quite useful and I suppose I was paid for that experience.”

-from the book Soros by Michael Kaufman

 

 

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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