My 2 cents on all things Finance - Part 1

Finance is THE hot topic now, with the banks going down the drain. Most people would have a rough idea of whats happening, but in layman's terms, its a sea of icebergs out there. In Lehmann's terms, it was just a poor Titanic!

Having worked in a Financial Services company, Insurance company and a Bank, I have a pretty good round up of the sector. Well, they say people who know more talk less, so before I get to know more, let me ramble on :P

I clearly remember the first bank account that I opened when I was entering into 2nd standard. My mom gave me Rs 10, the biggest amount I had seen till then in my own hands, and asked me to save. The next 11 yrs, I did just that; saved, saved and saved. My father was my first depositor, and my sister the first customer. Only that my customer returned neither principal nor interest. I learnt valuable lessons along the way. Seeing my piggy bank bulge and break, rise and ebb, I learnt what is love, sustenance, support, suspicion, sacrifice, despair, hope. Every month, I used to seggregate my 1p, 2p, 3p, 5p, 10p into seperate boxes and keep accounts. Over the years, I saw my beloved 1p and 2p disappear. Why shud those lovely chiselled aluminum coins be given back to the bank? New strange coins of Rs 2 and Rs 5 denomination came into being. My first taste of inflation. I did keep a few 1p, 2p and 3p though. It lost value, but did it?

Once in 6 months, my mom used to "buy" all my coins and give me a few equivalent notes, usually a bit more than the value of the coins. I didnt think much about the interest received, but I did cultivate interest. She used the coins for the daily bus journeys. I used to go to the bank and deposit the notes, way easier than depositing coins. I learnt how to deposit money. Occasionally withdrew money for emergencies, and got to know all the friendly neighbourhood bank employees. The bank used to have its own peculiar smell, just like a hotel.. It smelt of money and burning coils in the fans. I used to wonder why they worked only from 9-11am, until I realised my neighbour aunty working in the same bank came home only in the evening. As time passed by, I realised the bank shut itself inside, and people scribbling hard after people left. "Keeping accounts" I pondered, and mused how many 1p they had inside.

I opened my second bank account. This time my mom gave me Rs 100. WOW! And time went by and money went into the bank account. I ensured that hardly anything left the bank. I would be so delighted when they put the interest entry, as if I had won a lottery! When I ran from home near the closing time, and saw the shutters close agonisingly close, I used to pray to God to extend the banking hours. Its only when my passbook showed Rs 500 did my prayers get answered. And things started to get worse.

Did I open the pandorra box? The question would never go away. Growing up, I learnt it was not my prayers, but the world that was fast changing, but inside I always wish I hadnt wished 9-11 to change. The friendly neighbourhood aunties were now learning to type into the huge boxes obstructing my view of their bespectacled sincere work. I had grown enough to use a computer at school. I knew I could teach them to type faster. But the computers that I was so fond of at school transformed into frustration in their eyes. They were still scribbling in their ruled notebooks and into my passbook.

My balance grew into mammoth figures. I could hardly believe my eyes when I passed my 10th. I had a whopping Rs 1200. I screamed in silence. I wanted to tell all my friends, but I didnt. It was my WEALTH. Then my sister got engaged. My parents had to raise capital urgently for her marriage, and realised how tough it was to raise capital. Maybe people were as possessive about their wealth as I was with mine. I didnt think twice to open all my beloved boxes filled to the brim by then. 5p onwards flowed out.. totalling another Rs 250. They said they needed Rs 2.5 lacs. Thats when I realised how insignificant it all was. I wanted desperately to help my sis I had grown to love in hate. But I couldnt. I had saved all my life, and it came to nothing. I learnt the time value of money. In hindsight, I can see why its the first lesson in almost every financial book.


Quote of the week: Two investment banks were taken off the equation in a day.
Quote of the day: The Fed can take a dead dog as a collateral for lending money.

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Be a Leader!

It takes a leader to talk the walk
And a manager to walk the talk.

Carriages are good cos they carry the coal, but its the rail engine that drives them to their destination.

Well.. I was in a project leadership course today :P

The guy started off with a quote by Omar Bradshaw, "Its easy being a leader, its getting people to follow you thats tough!" and chipped in with Eisenhower's "Plans are useless, but Planning is good"

And then the participants did their bit...
"Rome wasnt built in a day.. It took time to convince those Romans!"

Maslow and Herzberg came out from their graves in my masters coursebook today; X, Y and Z stopped their association with algebra to become theories in themselves; blah blah blah.

After spending a day in classroom, I learnt a thing or two about leadership; or so I think.. And definitely learnt a thing or two about gujjus! I had the honour of meeting yet another specimen (used to be the favorite word for one of my school teachers) today.

The icing on the cake was the last exercise for the day. Doing the exercise, we made as many leadership errors that we were taught to avoid the whole day.

Perspectives changed; Practicality didnt!

And then I realised why the 40-80 year old theories are still taught, again and again and again, in vain. And I looked back at the thousands of years' worth of "sayings" with respect.

Its so easy to say things!

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Puls My Dear

Join me in wishing Mr. Puls a very very happy birthday. I dont remember which year he was born though. Anywayz, hes always young thanks to God's grace. I love him from the bottom of my heart. So does a million others, but he would always be special to me. My friend, philosopher, guide and God. He has an amazing personality, and his charisma can draw people towards him. I am proud to be associated with him in an endearing way for about 18 yrs now. Love ya puls. Love ya so damn much. Just next to my parents though. Knowing him, he wouldnt mind settling for second best in my heart :)

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Insignificant You

The world goes round and round and it doesn't suffice
While you are lucky to go round maybe twice or thrice.
The sun burns down our planetary neighbour's face
And a thousand degrees cooler, we scream about its unforgiving rays.

Rocks orbit aimlessly amidst the vast expanse
But we look to strip every rock here to make our cars and fans.
A friendly wave would take 8 mins to reach the next lifeless rock
But we don't stop to greet our elderly neighbour in the block.

Stars and parents are solely responsible to incubate life
But alas the cinema stars are more revered, what a strife!
We reach out to planets and aliens and the search does continue
While the plants and animals suffering next to you doesn't subdue

Like a mother the sun burns itself out to make life comfortable, with no regrets
While we burn all our ancestral fossils to light our pubs and cigarettes
Ants live in the billions and thousands get stamped out everyday
Perhaps there is a lesson if only you pause to think on a busy day

There are a billion rocks out there in the sky
But only one where a billion lives can fly
You will only begin to appreciate the beauty around you
When you realise you are but an insignificant you!

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