In 2008, when the stock markets were bearish, many foreign institutional investors (FIIs) and other big investors chose to keep away from the 'block deals' in stocks plunging the trading volumes through such deals by 30 per cent.
However, things changed for good and when the Sensex raised by over 47 per cent since March 2009 the long term institutional investors and minority shareholders have started showing interest to raise funds through block deals. Between January 2009 and February 2009, there were six block deals worth Rs 232 crore. Recently, several big companies like Dish TV, UltraTech Cement [ Get Quote ], Ambuja Cements and Tata Steel [ Get Quote ] like have carried out block deals to name a few.
But what are these block deals? How does it happen? And why is it being talked about now? How is it different from bulk deal? Let us see.
What is block deal?
According to Securities and Exchange Board of India a block deal is a single transaction of a minimum quantity of five lakh shares or a minimum value of Rs 5 crore and is done between two parties through a separate window of the stock exchange that is open for only 35 minutes in the beginning of the trading hours.
SEBI has also made it mandatory for the stock brokers to disclose on a daily basis the block deals made through DUS or Data Upload Software.
Difference between block deal and bulk deal
Unlike a block deal that happens through a separate window that is open for only 35 minutes in the beginning of the trading hours at the stock exchange, bulk deals happen all through the trading day. Another major difference is that a bulk deal is said to have happened if under a single client code and in a single or multiple transactions more than 0.5 per cent of a company's number of equity shares is traded.
Also, bulk deals are market driven while two parties are required for a block deal to take place. Bulk deals carried out for the day should be revealed by a broker on the same day to the stock exchange using the DUS.
Who can go for these deals?
Generally, only the institutional players including the foreign institutional investors are the major participants in this type of deals. This also includes mutual funds, the various financial institutions, and companies carrying out insurance business, banks, and venture capitalists. Sometimes, many promoters use this window to arrange the issues that are related to cross holdings.
Statutory requirements that must be followed for block deals
SEBI has rules in place certain rules for carrying out block deals. It is mandatory that block deals should happen only through a separate window and for a period of 35 minutes only in the beginning of the trading hours. Also SEBI rules state that block deal orders should be placed for a price not exceeding +1 per cent to -1 per cent of the previous day's closing or the current market price. Delivery must be made for every trade executed and cannot be squared off or reversed. All details like the name of the scrip, the client's name, number of shares and traded price should be disclosed to the public through the DUS every day after market hours.
Interpretation of such deals
Investors often rely upon the block and bulk deals and their movements for trading cues. However, this might not be completely true. A block or bulk deal in a particular scrip doesn't necessarily mean that the stock price of the specific stock will increase as there are buyers and sellers involved in every deal. Understanding the profiles of the institutions involved in the deal and their strategies is required. However in case of bulk deals happening on a continuous basis in a counter or share with high volumes and high pending shares it could be a sign of appreciation in price in the future. Yet this could also happen in an operator driven counters.
So the block or bulk deals can be considered only as a first level of investigation and an investor before investing in a share should look for more details like specific information about the company like its fundamentals, its performance and ranking in its industry, and its future plans and prospects.
Monday, November 9, 2009
Saturday, November 7, 2009
How To Succeed At Work & In Career
How To Succeed At Work & In Career
1. Don't talk negatively about people behind their backs. If you gossip, people won't confide in you. Mind your own business.
2. Try to work for someone who'll challenge your powers. You'll learn more in a year than 4 years of college.
3. Successful bosses have good communication skills. They learn from people, including their employees.
4. Work in such a way that makes your boss look good. It's not flattery.
5. On downsizing, the first to go are those with few friends. Bosses prefer competent people whom they respect.
6. Dress for the job you want, not the one you have. Let your dress reflect professionalism.
7. Workout to get in good physical shape. Unless exceptionally skilled, the unhealthy are at a comparative disadvantage.
8. Personal integrity is crucial. Tell nothing but the truth. Bosses can forgive mistakes but if you lie, you're gone.
9. Be on time. Try to arrive few minutes early. It saves you from stress. You'll be much relaxed & work better
10. Strive your best to keep a deadline. If you cannot meet it, then apologize & ask for an extension
11. Don't take things personally. If some people are unhappy with you, it's their problem. But always strive to give your best.
12. If you must correct someone, don't get personal about it. Do it never in front of others.
13. Spend some time alone everyday. What's the mission of my life? What do I want to be? And how to go about it.
14. As you move along Plan A of your career, maintain a Plan B as well — an alternative course to rely
15. Always remember that the secret of success is passion. Always think big. Spread love & joy. You'll have blissful years ahead
1. Don't talk negatively about people behind their backs. If you gossip, people won't confide in you. Mind your own business.
2. Try to work for someone who'll challenge your powers. You'll learn more in a year than 4 years of college.
3. Successful bosses have good communication skills. They learn from people, including their employees.
4. Work in such a way that makes your boss look good. It's not flattery.
5. On downsizing, the first to go are those with few friends. Bosses prefer competent people whom they respect.
6. Dress for the job you want, not the one you have. Let your dress reflect professionalism.
7. Workout to get in good physical shape. Unless exceptionally skilled, the unhealthy are at a comparative disadvantage.
8. Personal integrity is crucial. Tell nothing but the truth. Bosses can forgive mistakes but if you lie, you're gone.
9. Be on time. Try to arrive few minutes early. It saves you from stress. You'll be much relaxed & work better
10. Strive your best to keep a deadline. If you cannot meet it, then apologize & ask for an extension
11. Don't take things personally. If some people are unhappy with you, it's their problem. But always strive to give your best.
12. If you must correct someone, don't get personal about it. Do it never in front of others.
13. Spend some time alone everyday. What's the mission of my life? What do I want to be? And how to go about it.
14. As you move along Plan A of your career, maintain a Plan B as well — an alternative course to rely
15. Always remember that the secret of success is passion. Always think big. Spread love & joy. You'll have blissful years ahead
Friday, November 6, 2009
10 things all JAVA developers should know
1. Remember the basic of JAVA language and OOP paradigm.
Most experience developers seem to forget the theory behind the language. I am not saying that they are not good at their job but can they explain to junior developers why they have used interfaces instead of abstract classes or why implement a pattern over another one? As a programmer, you become very arrogant as you believe that you write the best code but in the real world, people work in teams with different skill set and experiences. It is important that you can backup your actions/ codes. A very simple question such as; when should I use a String object instead of a StringBuilder/ StringBuffer? You might take this question lightly but can you actually tell someone else the difference?
2. Know your technology stack
All developers have to know their technology stack. What does it mean? JAVA is not like other languages; JAVA has subsets such J2ME and superset such as Java EE. We have our own area of expertise but it is important to know the differences between the various sets of JAVA. Some basic questions such as the differences between SWING, Applet, Servlets, EJBs and JAVAFX will boost your confidence. Most developers do not know how to tweak the JVM and the differences between the JRE and the SDK environment. Do you know why you need the SDK to be installed to run Tomcat but you only need the JRE to run an application?
3. Experiment with various Java EE framework
I am not asking you to be an expert in every single Java EE framework but it will make the difference if you are familiar with Spring and EJB. That should actually be the de facto framework that should be on every developers CV. Developers should know the difference between Java EE 5 (soon 6) and Spring. Hibernate is also brilliant and it's used for data access but all developers should have moved to JPA by now. Hibernate also comply with JPA therefore there is no more excuses.
4. Know a scripting language
JAVA can be heavyweight for some simple tasks which can be implemented using a simple dynamic language such as Python, Perl(?) and others. I would also recommend to developers to learn shell scripting on their target OS.
5. Know how to develop web services
The network is the computer, therefore it is important to know the different web services framework available. Data are integrated through web services and opening your services to the "cloud". SWING developers will probably not develop web services but I am sure that they will be connecting to data through web services clients. Understanding the difference between the standardised SOAP and non-standardised ReST will help you choose which is best to implement your services.
6. Know how and when to multithread your application
I have to put that in there. Developers should know when and why to multithread an application, thread inter-communication and monitoring. All developers, junior or not, should know how to write a multi-threaded application.
7. Database development using JDBC and JPA
This should be a development law. All developers should know how to write SQL queries and how to create databases. All enterprise applications store data in some sort of relational database systems and it is therefore imperative that this knowledge should be of second nature. Java EE 5 introduced JPA (JDO was there before) but it is not applicable to all situation. Hence, knowing the difference and when to implement one instead of the other is important.
8. Know a client side scripting language and what is AJAX
The network is the computer and Internet is the deployment platform. Java EE and its various framework are server side executiong which can put extra "load" on the server. If you are looking to move a cloud based system where the providers charges you per resources used, it might be wise to move some of the execution to the client side. AJAX has been buzzing the scene for the last 3 years and more. This is not a technology but a new way of doing something that already existed. There are numerous JAVA AJAX framework such as GWT and DWR which makes it easy to develop AJAX based application which are compiled to JavaScript. Developers should also know what is the AJAX theories.
9. Know your competitors and do not take part on "what is the best IDE" discussion
JAVA is not the only language that can do what it does. I think that JAVA is more mature and complete as opposed to other languages. Knowing the difference between JAVA and .NET or JAVA and Ruby is a good asset to have. You also need to know when and why to use one instead of the other. Please please please, do not get into "my IDE is better than x because..." discussion as it is good for the JAVA community to have multiple IDEs and framework available to use. Every tools have their place as for example JDeveloper is better than x if you are going to solely develop on an Oracle stack and etc...
10. Know ANT (MAVEN?), TOMCAT and any other mainstrean application server
ANT is the de facto build script for JAVA and its IDE-based development. Maven is becoming popular and soon can be as popular as ANT (not sure of its popularity in the financial sector). TOMCAT should be immortalised as the based servlet container that all developers should be familiar with.
There are alot more to add but this is just some of the basics that I think all developers should have in their repertoire. Feel free to add to this list in the comments box. If I could had another one to this, would be; all developers not just JAVA, should know how to search the web and Google is your best friends.
Most experience developers seem to forget the theory behind the language. I am not saying that they are not good at their job but can they explain to junior developers why they have used interfaces instead of abstract classes or why implement a pattern over another one? As a programmer, you become very arrogant as you believe that you write the best code but in the real world, people work in teams with different skill set and experiences. It is important that you can backup your actions/ codes. A very simple question such as; when should I use a String object instead of a StringBuilder/ StringBuffer? You might take this question lightly but can you actually tell someone else the difference?
2. Know your technology stack
All developers have to know their technology stack. What does it mean? JAVA is not like other languages; JAVA has subsets such J2ME and superset such as Java EE. We have our own area of expertise but it is important to know the differences between the various sets of JAVA. Some basic questions such as the differences between SWING, Applet, Servlets, EJBs and JAVAFX will boost your confidence. Most developers do not know how to tweak the JVM and the differences between the JRE and the SDK environment. Do you know why you need the SDK to be installed to run Tomcat but you only need the JRE to run an application?
3. Experiment with various Java EE framework
I am not asking you to be an expert in every single Java EE framework but it will make the difference if you are familiar with Spring and EJB. That should actually be the de facto framework that should be on every developers CV. Developers should know the difference between Java EE 5 (soon 6) and Spring. Hibernate is also brilliant and it's used for data access but all developers should have moved to JPA by now. Hibernate also comply with JPA therefore there is no more excuses.
4. Know a scripting language
JAVA can be heavyweight for some simple tasks which can be implemented using a simple dynamic language such as Python, Perl(?) and others. I would also recommend to developers to learn shell scripting on their target OS.
5. Know how to develop web services
The network is the computer, therefore it is important to know the different web services framework available. Data are integrated through web services and opening your services to the "cloud". SWING developers will probably not develop web services but I am sure that they will be connecting to data through web services clients. Understanding the difference between the standardised SOAP and non-standardised ReST will help you choose which is best to implement your services.
6. Know how and when to multithread your application
I have to put that in there. Developers should know when and why to multithread an application, thread inter-communication and monitoring. All developers, junior or not, should know how to write a multi-threaded application.
7. Database development using JDBC and JPA
This should be a development law. All developers should know how to write SQL queries and how to create databases. All enterprise applications store data in some sort of relational database systems and it is therefore imperative that this knowledge should be of second nature. Java EE 5 introduced JPA (JDO was there before) but it is not applicable to all situation. Hence, knowing the difference and when to implement one instead of the other is important.
8. Know a client side scripting language and what is AJAX
The network is the computer and Internet is the deployment platform. Java EE and its various framework are server side executiong which can put extra "load" on the server. If you are looking to move a cloud based system where the providers charges you per resources used, it might be wise to move some of the execution to the client side. AJAX has been buzzing the scene for the last 3 years and more. This is not a technology but a new way of doing something that already existed. There are numerous JAVA AJAX framework such as GWT and DWR which makes it easy to develop AJAX based application which are compiled to JavaScript. Developers should also know what is the AJAX theories.
9. Know your competitors and do not take part on "what is the best IDE" discussion
JAVA is not the only language that can do what it does. I think that JAVA is more mature and complete as opposed to other languages. Knowing the difference between JAVA and .NET or JAVA and Ruby is a good asset to have. You also need to know when and why to use one instead of the other. Please please please, do not get into "my IDE is better than x because..." discussion as it is good for the JAVA community to have multiple IDEs and framework available to use. Every tools have their place as for example JDeveloper is better than x if you are going to solely develop on an Oracle stack and etc...
10. Know ANT (MAVEN?), TOMCAT and any other mainstrean application server
ANT is the de facto build script for JAVA and its IDE-based development. Maven is becoming popular and soon can be as popular as ANT (not sure of its popularity in the financial sector). TOMCAT should be immortalised as the based servlet container that all developers should be familiar with.
There are alot more to add but this is just some of the basics that I think all developers should have in their repertoire. Feel free to add to this list in the comments box. If I could had another one to this, would be; all developers not just JAVA, should know how to search the web and Google is your best friends.
Top 10 careers in finance
Finance -- the sector most battered by the global meltdown -- is making a comeback. News streaming in from top B-school campuses such as the IIMs talks of finance positions once again claiming their place in the sun. Financial heavyweights are flexing their muscles once again on Day Zero. Names currently doing the rounds are Morgan Stanley, JP Morgan Chase, Credit Suisse, UBS, HSBC, RBS, Barclays, Bank of America -- Merrill Lynch, Nomura and many more.
Although a lot of us may want to take advantage of this, a lot of questions may also arise in our mind.
What are the roles these financial companies offer? What is the meaning of all the perplexing finance positions in these companies? What does one do exactly? What is the skill set required? How much does one get paid?
Finance as a career option is a very wide term. In a survey by an education portal, it was pointed out that over 75 per cent students took finance purely because they felt that it paid the most. That shows one thing: mostly students and job-seekers find who opt for this specialisation do not know what they are getting into.
This is an attempt to simplify some of the financial career options students should look at when contemplating a career in finance.
1. Private equity: The role of private equity is to raise funds from large investors and invest the money directly into businesses. The usual manner is to raise money from overseas investors and then find businesses in the growth stage. Most private equity funds 'exit' the investment after a period of time by selling their holding in the business to some other investors or doing an initial public offering of the shares of the business.
Investment banking comprises two major businesses. One is the advisory/ corporate finance role which entails mergers and acquisitions. This would entail understanding valuations, finding targets, negotiation and compliance with legal regulations. The second role is what is more popularly called equity capital markets role. This entails helping corporates raise funds from investors or the public. So it may entail working on IPOs or Institutional Offerings.
3. Fund Management: As a fund manager, one is an important decision-maker typically at a mutual fund. The fund manager has a good overall understanding of the macro factors which affect the markets as well as the micro factors about which company to invest in. He invests money in stock market, debt market, directly into companies, etc depending upon his fund mandate.
4. Equity Research & Sales: The role of equity research is to find out the correct value of the stock which is trading on the stock exchange doing various types of research namely fundamental and technical analysis. There are two types of ERs though. One is the sell-side research which belongs to a brokerage, the aim is to do research and sell investment ideas to investors so as to earn commission on trading by the investor. The second is buy-side research, which is a part of usually a buy side fund like a mutual fund. They analyse the research results of various brokerages in addition to their own research on investment ideas for the fund manager.
This role entails arranging for long-term finance for infrastructure and industrial projects which will take a long time to pay back. The first step is to understand the project, conduct a feasibility study, risk assessment and a detailed financial model. This is done with the purpose to rope in equity partners (known as sponsors) and lenders. Generally the lending part is done by multiple banks under leadership of the syndicate bank.
6. Financial Risk Management: Financial risk management is the practice of creating economic value in a firm by using financial instruments to manage exposure to risk, particularly credit risk and market risk. Similar to general risk management, financial risk management requires identifying its sources, measuring it, and plans to address them. Financial risk management can be qualitative and quantitative. As a specialisation of risk management, financial risk management focuses on when and how to hedge using financial instruments to manage costly exposures to risk. In the banking sector worldwide, the Basel Accords are generally adopted by internationally active banks for tracking, reporting and exposing operational, credit and market risks.
This role entails the entire plethora of banking services required by corporates. Corporate can be divided into largely two sections Large Corporates and MSME which is Medium and Small enterprises. A corporate banker would thus have companies as his clients and service them. Within corporate banking some of the departments are:
• Credit Borrowing to companies for their expansion and working capital requirements. Would entail doing a credit evaluation on the company and sanctioning the loan
• Treasury Help companies manage various types of risks such as foreign exchange, interest rate fluctuations. Treasuries also take proprietary positions to make profit in the 'forex' and bond markets.
• Cash Management Solutions: As most companies have a large number of customers, distributors or branch offices across the country it becomes a huge challenge to deal in money. Banks offer cash management solutions to help streamline this entire operation for its corporate customers.
8. Wealth Management: Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services. High net worth individuals, small business owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate retail banking, estate planning, legal resources, tax professionals and investment management.
Wealth managers can be independent, certified financial planners. One must already have accumulated a significant amount of wealth for wealth management strategies to be effective. Wealth management can be provided by banks, brokerages, independent financial advisers or multi-licensed portfolio managers whose services are designed to focus on high-net worth customers.
The fallout of the events of 2008 has produced a high level of skepticism and distrust among investors, and they will demand greater transparency from their providers to understand what they own, the value of their investments and associated risks.
Also known as consumer banking, it entails dealing with products / services for individual customers. So the scope encompasses getting business for products such as credit cards, savings accounts, personal loans and auto loans. Operational roles would entail teller, authorising, clearing, remittances and customer service.
10. Corporate Finance: A career in corporate finance means you would work for a company to help it find money to run the business, grow the business, make acquisitions, plan for its financial future and manage any cash on hand. You might work for a large multinational company or a smaller player with high growth prospects.
The job of the financial officer is to create value for a company. As a corporate finance professional one is typicall involved in four main activities to meet its objectives: 1) designing, implementing and monitoring financial policies, 2) planning and executing the financing programme, 3) managing cash resources, and 4) interfacing with the financial community and investors.
Jobs in corporate finance are also relatively stable. Performance in these jobs counts, but your job is not going to depend on whether you're selling enough this week or getting good deals finished this quarter. Rather the key to performing well in corporate finance is to work with a long view of what's going to make your company successful. Many would argue that corporate finance jobs are the most desirable in the entire field of finance. Some of the benefits of working in corporate finance are:
• You generally work in teams which help you work with people
• It's a lot of fun to tackle business problems that really matter
• You'll have many opportunities to travel and meet people and
• The pay in corporate finance is generally quite good
Thus, a budding financial wiz should look at understanding which area interests him/her the most and build skill sets which can help take the leap into financial sector.
Although a lot of us may want to take advantage of this, a lot of questions may also arise in our mind.
What are the roles these financial companies offer? What is the meaning of all the perplexing finance positions in these companies? What does one do exactly? What is the skill set required? How much does one get paid?
Finance as a career option is a very wide term. In a survey by an education portal, it was pointed out that over 75 per cent students took finance purely because they felt that it paid the most. That shows one thing: mostly students and job-seekers find who opt for this specialisation do not know what they are getting into.
This is an attempt to simplify some of the financial career options students should look at when contemplating a career in finance.
1. Private equity: The role of private equity is to raise funds from large investors and invest the money directly into businesses. The usual manner is to raise money from overseas investors and then find businesses in the growth stage. Most private equity funds 'exit' the investment after a period of time by selling their holding in the business to some other investors or doing an initial public offering of the shares of the business.
Investment banking comprises two major businesses. One is the advisory/ corporate finance role which entails mergers and acquisitions. This would entail understanding valuations, finding targets, negotiation and compliance with legal regulations. The second role is what is more popularly called equity capital markets role. This entails helping corporates raise funds from investors or the public. So it may entail working on IPOs or Institutional Offerings.
3. Fund Management: As a fund manager, one is an important decision-maker typically at a mutual fund. The fund manager has a good overall understanding of the macro factors which affect the markets as well as the micro factors about which company to invest in. He invests money in stock market, debt market, directly into companies, etc depending upon his fund mandate.
4. Equity Research & Sales: The role of equity research is to find out the correct value of the stock which is trading on the stock exchange doing various types of research namely fundamental and technical analysis. There are two types of ERs though. One is the sell-side research which belongs to a brokerage, the aim is to do research and sell investment ideas to investors so as to earn commission on trading by the investor. The second is buy-side research, which is a part of usually a buy side fund like a mutual fund. They analyse the research results of various brokerages in addition to their own research on investment ideas for the fund manager.
This role entails arranging for long-term finance for infrastructure and industrial projects which will take a long time to pay back. The first step is to understand the project, conduct a feasibility study, risk assessment and a detailed financial model. This is done with the purpose to rope in equity partners (known as sponsors) and lenders. Generally the lending part is done by multiple banks under leadership of the syndicate bank.
6. Financial Risk Management: Financial risk management is the practice of creating economic value in a firm by using financial instruments to manage exposure to risk, particularly credit risk and market risk. Similar to general risk management, financial risk management requires identifying its sources, measuring it, and plans to address them. Financial risk management can be qualitative and quantitative. As a specialisation of risk management, financial risk management focuses on when and how to hedge using financial instruments to manage costly exposures to risk. In the banking sector worldwide, the Basel Accords are generally adopted by internationally active banks for tracking, reporting and exposing operational, credit and market risks.
This role entails the entire plethora of banking services required by corporates. Corporate can be divided into largely two sections Large Corporates and MSME which is Medium and Small enterprises. A corporate banker would thus have companies as his clients and service them. Within corporate banking some of the departments are:
• Credit Borrowing to companies for their expansion and working capital requirements. Would entail doing a credit evaluation on the company and sanctioning the loan
• Treasury Help companies manage various types of risks such as foreign exchange, interest rate fluctuations. Treasuries also take proprietary positions to make profit in the 'forex' and bond markets.
• Cash Management Solutions: As most companies have a large number of customers, distributors or branch offices across the country it becomes a huge challenge to deal in money. Banks offer cash management solutions to help streamline this entire operation for its corporate customers.
8. Wealth Management: Wealth management is an investment advisory discipline that incorporates financial planning, investment portfolio management and a number of aggregated financial services. High net worth individuals, small business owners and families who desire the assistance of a credentialed financial advisory specialist call upon wealth managers to coordinate retail banking, estate planning, legal resources, tax professionals and investment management.
Wealth managers can be independent, certified financial planners. One must already have accumulated a significant amount of wealth for wealth management strategies to be effective. Wealth management can be provided by banks, brokerages, independent financial advisers or multi-licensed portfolio managers whose services are designed to focus on high-net worth customers.
The fallout of the events of 2008 has produced a high level of skepticism and distrust among investors, and they will demand greater transparency from their providers to understand what they own, the value of their investments and associated risks.
Also known as consumer banking, it entails dealing with products / services for individual customers. So the scope encompasses getting business for products such as credit cards, savings accounts, personal loans and auto loans. Operational roles would entail teller, authorising, clearing, remittances and customer service.
10. Corporate Finance: A career in corporate finance means you would work for a company to help it find money to run the business, grow the business, make acquisitions, plan for its financial future and manage any cash on hand. You might work for a large multinational company or a smaller player with high growth prospects.
The job of the financial officer is to create value for a company. As a corporate finance professional one is typicall involved in four main activities to meet its objectives: 1) designing, implementing and monitoring financial policies, 2) planning and executing the financing programme, 3) managing cash resources, and 4) interfacing with the financial community and investors.
Jobs in corporate finance are also relatively stable. Performance in these jobs counts, but your job is not going to depend on whether you're selling enough this week or getting good deals finished this quarter. Rather the key to performing well in corporate finance is to work with a long view of what's going to make your company successful. Many would argue that corporate finance jobs are the most desirable in the entire field of finance. Some of the benefits of working in corporate finance are:
• You generally work in teams which help you work with people
• It's a lot of fun to tackle business problems that really matter
• You'll have many opportunities to travel and meet people and
• The pay in corporate finance is generally quite good
Thus, a budding financial wiz should look at understanding which area interests him/her the most and build skill sets which can help take the leap into financial sector.
Lessons from a FundManager cum Trader
• All you have is your name and your word.
• Honesty, trust and respect are the foundational constructs of any successful endeavor.
• Time is the most precious commodity.
• The purpose of the journey is the journey itself.
• What goes around comes around.
• The greatest wisdom is bred as a function of pain.
• Bad times define good friends just as bad seasons define good fans.
• Be good to others and better to yourself.
• A random act of kindness is a positive pebble that ripples through the proverbial pond of life.
• Work to live; don't live to work.
• Time is the arbiter of fate.
• Free will is God's greatest gift.
• Experience is a close second.
• Opportunities are made up easier than losses.
• Profitability begins within.
• One hand washes the other.
• Just because one yells doesn't make the message more important.
• Where you stand is a function of where you sit.
• Life is the cumulative sum of your decisions.
• The only difference between genius and madness is acceptance.
• The only difference between intervention and manipulation is communication.
• The only difference between a lesson and a mistake is the ability to learn from it.
• Negative energy is wasted energy.
• Adapt, don't conform.
• Take the high road; it's less crowded and has a better view.
• Stay out of debt.
• Be thankful for what you have rather than pine for what you don't.
• Seek balance.
• The definition of an investment should never be a trade gone awry.
• To appreciate where we are, we must understand how we got here.
• Drugs that mask symptoms aren't the same as medicine that cures the disease.
• The opposite of love isn't hate; it's apathy.
• The friction between opinions is where true education resides.
• A dream is only as powerful as those who believe in it.
• Money comes and goes.
• The reaction to news is more important than the news itself.
• Trading gods have a vicious sense of humor.
• Tomorrow is promised to nobody.
• If you do the right thing long enough, someone will eventually take notice.
• Good traders know how to make money; great traders know how to take a loss.
• Seeing old friends is good for the soul.
• Some of the wealthiest people I know don't have two dimes to rub together.
• By the time you get to where you want to be, the journey will have already ended.
• Emotion is the enemy when trading.
• When in doubt, sit it out.
• The only difference between being early and being wrong is if you're there to collect your chips.
• Build a growth company by surrounding yourself with people who can themselves grow.
• Tenacity, resolve and perseverance are the hallmarks of success.
• Hope isn't a viable investment vehicle.
• Stay humble or the market will do it for you.
• Be careful with people who don't love pets.
• The ability not to trade is as important as trading ability.
• The Crash didn't cause the Great Depression; the Great Depression caused the Crash.
• Social mood and risk appetites shape financial markets.
• The leaders coming out of a crisis are never the same as those that enter it.
• The ability to add capacity into a downturn defines the winners on the other side.
• Discipline trumps conviction.
• There is a difference between having fun and being happy.
• Gratitude is latitude.
• There's no shame in admitting it's hard; there's only shame in pretending it's not.
• If you're not part of the solution, you're part of the problem.
• Society is a sum of the parts.
• View obstacles as opportunities.
• The air of integrity gets thinner with age.
• The meaning of life is a life of meaning.
• Think positive!
• One step in front of the other.
• Honesty, trust and respect are the foundational constructs of any successful endeavor.
• Time is the most precious commodity.
• The purpose of the journey is the journey itself.
• What goes around comes around.
• The greatest wisdom is bred as a function of pain.
• Bad times define good friends just as bad seasons define good fans.
• Be good to others and better to yourself.
• A random act of kindness is a positive pebble that ripples through the proverbial pond of life.
• Work to live; don't live to work.
• Time is the arbiter of fate.
• Free will is God's greatest gift.
• Experience is a close second.
• Opportunities are made up easier than losses.
• Profitability begins within.
• One hand washes the other.
• Just because one yells doesn't make the message more important.
• Where you stand is a function of where you sit.
• Life is the cumulative sum of your decisions.
• The only difference between genius and madness is acceptance.
• The only difference between intervention and manipulation is communication.
• The only difference between a lesson and a mistake is the ability to learn from it.
• Negative energy is wasted energy.
• Adapt, don't conform.
• Take the high road; it's less crowded and has a better view.
• Stay out of debt.
• Be thankful for what you have rather than pine for what you don't.
• Seek balance.
• The definition of an investment should never be a trade gone awry.
• To appreciate where we are, we must understand how we got here.
• Drugs that mask symptoms aren't the same as medicine that cures the disease.
• The opposite of love isn't hate; it's apathy.
• The friction between opinions is where true education resides.
• A dream is only as powerful as those who believe in it.
• Money comes and goes.
• The reaction to news is more important than the news itself.
• Trading gods have a vicious sense of humor.
• Tomorrow is promised to nobody.
• If you do the right thing long enough, someone will eventually take notice.
• Good traders know how to make money; great traders know how to take a loss.
• Seeing old friends is good for the soul.
• Some of the wealthiest people I know don't have two dimes to rub together.
• By the time you get to where you want to be, the journey will have already ended.
• Emotion is the enemy when trading.
• When in doubt, sit it out.
• The only difference between being early and being wrong is if you're there to collect your chips.
• Build a growth company by surrounding yourself with people who can themselves grow.
• Tenacity, resolve and perseverance are the hallmarks of success.
• Hope isn't a viable investment vehicle.
• Stay humble or the market will do it for you.
• Be careful with people who don't love pets.
• The ability not to trade is as important as trading ability.
• The Crash didn't cause the Great Depression; the Great Depression caused the Crash.
• Social mood and risk appetites shape financial markets.
• The leaders coming out of a crisis are never the same as those that enter it.
• The ability to add capacity into a downturn defines the winners on the other side.
• Discipline trumps conviction.
• There is a difference between having fun and being happy.
• Gratitude is latitude.
• There's no shame in admitting it's hard; there's only shame in pretending it's not.
• If you're not part of the solution, you're part of the problem.
• Society is a sum of the parts.
• View obstacles as opportunities.
• The air of integrity gets thinner with age.
• The meaning of life is a life of meaning.
• Think positive!
• One step in front of the other.
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