Happy #EktaDiwas to all.
Tributes to #SardarVallabhbhaiPatel.

He will always be remembered as the man who united the nation.

A brief thread with a contrarian view follows:
1. There has been a consensus so far that making all princely states join the union of India was a wonderful thing.
And then, there was these massive state reorganisations starting from 1956.
2. First point to accept: the “provinces” under British were already large.

But, are we supposed to believe that none of the “founding fathers” who fought for independence were unaware of the local history? I don’t buy such a claim.
3. Second point to accept: Yes, some of those princely states were terribly mismanaged. It won’t make a difference if they were part of one bigger province.

But, what about the well run kingdoms like kochi, Mysore, etc.
4. The crux of the problem is in the thought process of people at that time.
They were just too anxious to lose territory. They were not focusing on organising the territory.
5. And, they fell for the biggest trap: Indian bureaucracy which was under British Raj is somehow inevitable.
6. Then there was this obsession about copying from other western countries. The French and American influence.
But, where was indian influence?
This land had seen republics much much earlier than the Europeans.
7. We had entire books written on how to do good administration.
Now, people talk about arthasastra and Chanakya.
Why were the erudite people from Tamil Nadu not pointing out the methods of ancient Tamil land.
8. National integration was a huge mission then.
Just like filling stomach is a huge mission for a child returning from school.
Somehow filling the stomach seemed to be sufficient goal.
No one had a clear and pragmatic idea of what the integrated unit should look like.
9. Why should we really have governors appointed by president?
Why can’t we let kings become governors. The power of governors were already curtailed. Wouldn’t it have made more sense to have a quasi British model of democracy in the states?
10. Let’s not forget that we pride ourselves as Union of India.
But, where is diversity being maintained in this union?
11. How deep were the debates on the form of government most suited for the growth of india.
What really happened was that socialists took over nation building.
They didn’t care about diversity because they were all trying to convert India into a USSR.
Socialism was woke then.
12. Too much water has flowed now, and we obviously can’t go back in time to fix a few blunders.
13. It’s still not too late to have a full revisit of our constitution and the definition of states.

The articles 370-371s are the proof that our earlier ideas of state reorganisation and forcing a unified view on all(along with embedded discrimination) was wrong.
14.
In this #EktaDiwas, let’s resolve to unify India again while maintaining its diversity.
Let’s sit together and rewrite a more pragmatic constitution.
Let’s have a much wider constituent assembly with representation from all regions.
Let’s unite the true India, again.

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More from @muralipiyer

31 Oct
I believe what’s happening now is a disruption in the way we think of commutation.

The pandemic has shown us that an 8-hr office is not really necessary.
Of course, there are sectors where Work-From-Home doesn’t make sense.
But, vast majority of work can be done from home.
The reason: we have now digital connectivity substituting for physical or road connectivity.
This is an option we never had in the past.
Technically, we can employ people from home, with an occasaional face to face interaction for certain limited activities that require physical presence.
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30 Oct
A bit of history on what’s really happening in France.
You all know about the nexus of commies and islamists.
Not going to repeat it.
In 4 decades, there will be more Muslims in the world than Christians.
Again, from pew research report
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28 Oct
@invest_mutual correct me if I am wrong, but bonds are not FD replacements.
In most, you buy a bond at a higher price. The effective yield, if you held it till maturity, is going to be lesser. If you want to make money by buying and selling bonds, you might as well buy index fund
Reason:
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If bond is selling very cheap, it’s because the risk is higher.
Though on paper you may get high yield, there is no guarantee that the company won’t default.
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The days of relatively higher implied volatility seems to have come to an end now.
Bank nifty historical IV is now in 30s. IVP is now in the 50s.
Nifty is even lower. Historical IV around 20. IVP in 40s.

It’s like the days of Iron Vertical spreads and IB are on.
#options #notes
SBIN is at IV of late 40s. IVP around 50.
ITC is at IV late 30s. IVP just above 60.
NTPC is at IV 40s. IVP in 60s.
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LT IV 30s.

NMDC IV 50s, but it’s very illiquid.
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The thing is that 45 day trades are becoming very tough now.

With US elections possibly going to have an impact, indices are not that safe and stock options (the few ones that are liquid enough) are not that good for a 45 day duration.
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Everyone should watch this because it’s a bit more balanced.
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Pregnancy makes the ad look like glorifying what’s seen as love jihad, or forceful use of premarital relationships to trap esp Hindu girls.
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72. #Options #Notes
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73. #Options #Notes
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