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BookReview

Book Review: Business: The Emami Way

 

The Book ‘Business-The Emami Way‘ is written by the Founders of Emami- R.S. Agarwal & R.S. Goenka

The authors have written the book not to explain about their business or the incredible success that Emami has achieved, but instead to offer ‘lessons’ to young entrepreneurs.

As such , the format of the book is peculiar…it does not follow a chronological order.Instead, the book is organized in chapters such as ‘Basis of Business’, ‘Leadership’, ‘Willpower’ etc

In each chapter, questions are asked relating to the topic and R.S Agarwal answers this question in his own way.

R.S Agarwal is a very learned and accomplished person…as such his answers are long, rambling and preachy.

This makes the Book a very tiresome read and is a struggle to complete.

The Q & A excerpt below illustrates my point:

Question: How does one prepare oneself to face crises in business?

Answer: This art can be learned by practice.As humans,we have to face many problems in life and everything can be tackled by being patient,using our experience to arrive at the best solution,by exerting our willpower and keeping the faith.Storms will come and go,but if you are strong, you will not wilt.You need to remain calm.

And so on and on.

My struggles in reading this book was rewarded by this Rajasthani proverb which came at the very end:

Bhagya re Bhagya teen jana

Poonjee kum vyapaar ghanaa

Zor kum gussa ghanaa

Amdanee kum, kharcha ghanaa

Translation:

3 kinds of people have to flee world of business

Those with less capital,but more business

Those with less drive, but more emotion

Those with less income, but more expenses

Buy this book if you have:

Kharcha Kam, Amdanee Ghanaa

Kaam Kam, Time Ghanaa

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TopClicks

Top Clicks on Alpha Ideas This Week

Here are the most clicked on items this week on Alpha Ideas :

Notes from the Reliance Pharma Conference Call (AI)

Portfolio of Mohnish Pabrai in India (AI)

Opportunities for NBFCs (AI)

What I learnt from Ramesh Damani (AI)

50 of the best investing blogs on the planet (AM)

Anilbhai’s greatest fan (AI)

Pharma Industry-What to do now? (Subramoney)

RERA may put 75% real estate brokers out of work (Mint)

31 Year old Rishi Shah is Tech’s latest Billionaire (Forbes)

The Big News that will change India (AI)

Categories
Links

Weekend Mega Linkfest: June 02,2017

Some off beat reads for the weekend:

The biggest corruption scandal in History (Guardian)

Hell is empty and all hedge fund managers are at the Bellagio (Concourse)

Blast from the Past: Vietnam Story (US News)

The loneliness of Donald Trump (Lit Hub)

The Rise and Fall of Toronto’s Classiest Con Man (Walrus)

A Mobster, a family and a crime that won’t let them go (NYTimes)

Is the Gig Economy working? (New Yorker)

Ram Guha’s letter exposes Indian cricket stars (Scroll)

Harish Dhandev-The man who is earning Crores through farming (YS)

When did girls start wearing pink? (Smithsonian)

Surviving a visit to Agra’s Taj Mahal (Nat Geo)

Auto Review: Honda WR-V (Team BHP)

Movie Review: Sachin, A Billion Dreams (Great Bong)

Gossip: Venkaiah as President? (Gossip Guru)

Spoof in Pictures: Trump in Saudi Arabia (Dawn)

Categories
Tweets

The Big News which will Change India

Time to rethink all your investments in auto,auto ancilliaries, oil&gas, refining etc

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WhatILearntFrom

What I Learnt from Colm O’ Shea

Colm O’ Shea runs one of the largest hedge funds in the world COMAC Capital.

What I learnt from him: How to place stop losses 

From his interview in the Book The Hedge Fund Wizards

First, you decide where you are wrong. That determines where the stop level should be.

Then you work out how much you are willing to lose on the idea.

Last, you divide the amount you’re willing to lose by the per-contract loss to the stop point, and that determines your position size.

The most common error I see is that people do it backwards.

They start with position size. Then they know their pain threshold, and that determines where they place their stop.