Hi Junta
Despite my prolific presence on Twitter, I had a lingering feeling of neglect towards my primary passion of blogging here. So here I am at the doorstep of second year of management education in a stifling, congested hostel room ( which btw doesnt belong to either of the occupants) and all I want is to write something silly to appease my blogging appettite.
We had our Finance Continuum today and we will be having the Marketing Continuum tomorow to round off a packed weekend and give the junior batch a taste of things to come. The list of speakers was, as usual, illustrious and the experience was enriching. Though I have somewhat become tired of people cribbing about the recession and how everyone's backside is aching because of it, a couple of fresh perspectives did emerge from the day's proceedings.
One was that everyone talked about inclusive growth, something the policy makers have talked about since Independence and I have come to appreciate since my internship days. Secondly, a specific thrust on the SME space by the banking industry was also visible throughout the day. Glad to feel that I have worked and learnt some aspects of both these issues during my internship.
There was also a huge hue and cry about the budget and to put in my 2 cents to the pandemonium, I guess the FM missed a trick or two by letting the deficit balloon, taking the excuse of the recessionary period. It would have been a good idea to set things rolling on Public-Private partnership, specially in sectors like infrastructure. I think an oppotunity for implementing infrastructure partnerships on the build-operate-transfer model and enhancing the environment for such partnerships to prosper, has been offered and it should not be passed up in favor of the tried and tested, albeit risky proposition of public spending.
Thus, the government could have simulated demand and allowed private sector to participate in this effort to bring the country out of this hole.
Finally, it was heartening to hear our junior batch asking enthusiastic questions to the speakers. Some of the questions were really wonderful and I am hopeful that it'll be a great experience for us during the next year.
Adios!!!
P.S: Am working a organisation structure for firms based on technology platforms.. haven't been able to finalise it. Once its done that would be my next post. so keep waiting... Meanwhile started re-reading the book "Arab and Jew" while at home and am going good with it. Lets see if I actually manage to finish it this time.
Showing posts with label Financial crisis. Show all posts
Showing posts with label Financial crisis. Show all posts
Saturday, July 18, 2009
Sunday, February 15, 2009
Diksha session @ SJMSOM
So another weekend just flew by!!!! Tata weekend!!!
Just back to the room after collecting few materials for my Marketing project, its about Apollo tyres and currently, rudderless, inspite of the most energetic starts. On my way out i was wondering that some how the number of things you need to carry while moving out seems to be increasing.
Earlier it was just the little watch that Dad gifted for birthday, then came the wallet and gush of pride with it... Much later, of course, arrived the cell phone and now, whenever I move out of the room I carry a pendrive along with me, for some unforeseen data exchange. Of course, the tech-savvy will argue that a capable cell phone will make the pendrive redundant but currently such analysis is beyond my (and many others... with the crisis around) financial condition.
Another latest of latest developments has been my new-found love for Lynyrd Skynyrd, which makes them permanent fixtures on my playlist for the next week atleast. Ofcourse, the songs have been generously mixed with Delhi6 and DevD songs.
Saturday morning isn't the best time for any kind of industry interaction, let alone financial but then some people really do make us sit up and listen. So was the case this weekend when Mr A.V.Rajwade, visiting faculty at IIM A and SPJIMR and a practitioner in the financial services industry for more than 50 years, dropped by (for lack of better words) for a tete-a-tete with us. He talked about the existing financial crisis and brought out certain new perspectives to the issue, even though I thought there was nothing much left to discuss about the issue.
He started of discussing the various economic philosophies, right from Adam Smith to Keynes through Marx, and walked us through the socio-political transformations associated with the rise and fall of each of these beliefs. There was also a brief discussion on laissez faire capitalism and emergence of state responsibility in purely capitalist economies.
Thereafter the discussion moved to the banking business and I guess, the whole industry was summed up succintly when he said that it has moved from "lend and wait for repayment" to "originate and sell" model. He went on to explain certain aspects of the industry, especially risk-reward asymmetry and the disadvantages of complex of financial instruments. He attributed the current crisis to the willingness of most investors to invest in risky assets, even though they couldn't make much sense of the products that were being offered to them. He also initiated a brief discussion on various credit derivatives and their complexities.
Finally, and probably most importantly, he touched upon the things that a budding finance manager should learn from the crisis. To summarise in three points:
1. understand the risk/return compromise
2. Models are no substitute for common sense
3. Financial services are only slaves to the real economy and cannot be its master.
I also asked him whether he thinks this is the end of laissez faire capitalism to which he agreed. I, however, do not concur with his view. But more of that later need to publish this before the LAN stops working.
And yeah... I gotta know that I stood 4th in the PG cult elocution competition... Kudos to Vishesh for getting that info... he he he!!!
Tchao!!!
Just back to the room after collecting few materials for my Marketing project, its about Apollo tyres and currently, rudderless, inspite of the most energetic starts. On my way out i was wondering that some how the number of things you need to carry while moving out seems to be increasing.
Earlier it was just the little watch that Dad gifted for birthday, then came the wallet and gush of pride with it... Much later, of course, arrived the cell phone and now, whenever I move out of the room I carry a pendrive along with me, for some unforeseen data exchange. Of course, the tech-savvy will argue that a capable cell phone will make the pendrive redundant but currently such analysis is beyond my (and many others... with the crisis around) financial condition.
Another latest of latest developments has been my new-found love for Lynyrd Skynyrd, which makes them permanent fixtures on my playlist for the next week atleast. Ofcourse, the songs have been generously mixed with Delhi6 and DevD songs.
Saturday morning isn't the best time for any kind of industry interaction, let alone financial but then some people really do make us sit up and listen. So was the case this weekend when Mr A.V.Rajwade, visiting faculty at IIM A and SPJIMR and a practitioner in the financial services industry for more than 50 years, dropped by (for lack of better words) for a tete-a-tete with us. He talked about the existing financial crisis and brought out certain new perspectives to the issue, even though I thought there was nothing much left to discuss about the issue.
He started of discussing the various economic philosophies, right from Adam Smith to Keynes through Marx, and walked us through the socio-political transformations associated with the rise and fall of each of these beliefs. There was also a brief discussion on laissez faire capitalism and emergence of state responsibility in purely capitalist economies.
Thereafter the discussion moved to the banking business and I guess, the whole industry was summed up succintly when he said that it has moved from "lend and wait for repayment" to "originate and sell" model. He went on to explain certain aspects of the industry, especially risk-reward asymmetry and the disadvantages of complex of financial instruments. He attributed the current crisis to the willingness of most investors to invest in risky assets, even though they couldn't make much sense of the products that were being offered to them. He also initiated a brief discussion on various credit derivatives and their complexities.
Finally, and probably most importantly, he touched upon the things that a budding finance manager should learn from the crisis. To summarise in three points:
1. understand the risk/return compromise
2. Models are no substitute for common sense
3. Financial services are only slaves to the real economy and cannot be its master.
I also asked him whether he thinks this is the end of laissez faire capitalism to which he agreed. I, however, do not concur with his view. But more of that later need to publish this before the LAN stops working.
And yeah... I gotta know that I stood 4th in the PG cult elocution competition... Kudos to Vishesh for getting that info... he he he!!!
Tchao!!!
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