Biggest Corporate Scam going on now is the acquisition of own assets through NCLT after taking severe haircurts from banks/creditors through benaami transactions by corrupting the system. This should be stopped.
— Harsh Goenka (@hvgoenka) January 13, 2018
Here are the most clicked items on Alpha Ideas this week:
Wah Taj ! (AI)
Newgen Software: Your money, our furniture (AI)
Chart: The Motabhai Effect (AI)
Portfolio of Sri Sri Ravishankar (AI)
Rashesh Shah: The wealth management opportunity (AI)
Midcap Stocks: As good as it gets (OB)
CLSA’s list of 7 midcap stocks (MC)
Why are real estate stocks rallying? (Mint)
The Oracle of Dalal Street-Rakesh Jhunjhunwala (Outlook)
The World’s most corrupt man (DR)
Some off beat reads for the weekend:
The Mystery of the exiled Billionaire Whistle Blower (NYTimes)
How the heroin trade explains US failure in Afghanistan (Guardian)
The histroy and politics behind Trump’s Jerusalem decision (ATimes)
The new Dalit Panthers (Rahul Pandita)
Bhima Koregaon (Open)
The ‘P’ word (Caravan)
Is everything you know about depression wrong? (Guardian)
A solo backpacker’s guide to Cambodia (TeamBHP)
India’s highest bungee jumping point (NatGeo)
If you can’t say No, you are a Slave (Thought Catalog)
What nonsense,French Fries? (J Mathrubootham)
Aunties of Kitty Party (Arre)
In Photos: What kids eat around the world (Time)
Urvashi Pitre: The “Butter Chicken” Lady (New Yorker)
Professor Shonku Diary (Outlook)
Hat Tip: Amit Mantri
Hat Tip: Aditya Shrimankar
“I almost despise the business of executive search because I find that they really want to sell you the best that’s available even if he’s no damn good and I don’t like that.
But the best single expense that Berkshire ever had as we paid an executive recruiting firm to find Ajit Jain to come in our little tiny insurance operation.
He doesn’t have any experience with insurance at all. He was an honors graduate of the main technical institute in India. He was a very smart man. He came in and create (our reinsurance business).
And that’s the only big business we created from scratch and Ajit created the whole damn thing.
And of course, he talked with Warren every night. And so, it’s like father and son. This is a very Confucian company and that was unbelievable.
So, we hired an executive recruiter and he brings us an Indian with no experience at all in insurance.
He talks to the old man every night, and it’s now by far the biggest reinsurance business in the world. That’s been a gold mine. There’s at least 60 billion dollars in Berkshire of net worth that Ajit has created that we would not have credit without him.”