@veraghavan Nothing brutal Raghu.
Realities of disbanded Joint Family Systems.
We married women who became part of the family she got married into. Today no girl like to marry into the family. She likes to be independent and pursue her career and enjoy her life.
When the sacrificial lamb
1/2 @veraghavan 2/2
..refused to be slaughtered in the altar of the family, these situations are normal.
Until the "families" find a new sacrificial lamb this goes on.
Women, if she had been given her place and duly rewarded for that this might not have happened.
She was given the illusory title

Today's TNIE Chennai Edition carries another episode of "RIL is dirty" story.
After several attempts last year this fresh attempt tries to pick holes and cites Kotak analysts too to shore up its offensive against the claims of RIL to have turned a Zero Net Debt Company
1/n It is easy to torture Balance sheets and command them to tell any story of your choice with suitable dialogue.
It it the proverbial Glass Half Full Half Empty story.
I as a CA will like these eternal disbelievers to do one thing. Bring in a credible story of RIL diverting
2/n

Interesting information I read today.
There lived a music prodigy from Madurai in late 1800sand early 1900s by name Pushpavanam Iyer.
He lived for just 28 years. He had such voice culture and musical brilliance that concert organizers paid him double normal rates to book him
1/n Later years stalwarts like Maharajapuram Viswanatha Iyer used to compare GNB to Pushpavanam Iyer.
Pushpavanam Iyer had a daughter Rajam who was again a Child prodigy in music. She at the age of 21 bought a house for 4950 in Mylapore.She had a fleet of cars and drive hersel
2/n

Unpopular Opinion when "The Scam 1992" is now being eulogized by many and the compilation is hailed by Market people:
But for Harshad Metha Indian Stock markets would have remained in the stranglehold of a few operators led by legendary Manu Manek.

Harshad brought it to masses! The biggest "scam" of Bankers Receipt which brought the Big Bull down was a practice followed by BSE and the Bond Brokers for ages and the practice of getting the payment from the recipients ahead of delivery was going on for decades.
Be it Mr.Ramaswamy or Mr.Bhupen Dalal

This message thread may take sometime to complete but I hope to do it before tonight.
This is prompted by @sidhuram 's decision to quit trading.
I also read through all the reply messages in his timeline. While some offered help others empathised with his decision and a few
1/n .. joined him ruing their fate of calling it wrong And in one message read about how Bank Nifty defied all logic and moved past 24000.
Guys.. you are all very young.
Ok I understand you want to break this bad run and so take off.
Like the proverbial husband who vows when
2/n

Just thought I can put out my thoughts on how a trader should look at his statement of accounts on a daily basis.
May be a long one but request patience.
Fortunately I have the experience of trading with many brokers despite from 1995 myself being an investor with one or other I have made all the mistakes that normal investor/trader does in trading life.
I have gone behind high returns, subscribed to newsletters, tried"advance tips" from "sources", given money to knowledgeable traders to generate high returns, used people's services to trade myself

No Govt can formulate an Education Policy which satisfies all stake holders ever, Period. Education is best left to the Schools.
If Govt wants a subsidised education to its voters it is best done as they deem fit. No need to impose Govt's syllabi onto Schools.
If Private Schools offer different syllabi it must be permitted and Govt can't regulate them

One must really hear certain stories of how corporates(mid sized ones) dealt with the lock down.
One such in which I am an Independent Director, formed a Committee in 1st week of April, drawing its strength from various departments. It consisted of 14 members.
1st it set a target

https://twitter.com/siddarthpaim/status/1266316234045435904

2/n
What is the average size of employee's families.
Then where do they live. Then food habits. Then number of TVs/Mobile phones,Vehicles, other social activities.
They drew a financial budget for average family size.
Came to a broad average for each family's bare necessities

Except catering to optics I am not sure what other things or protection have been ensured by the latest gimmick of GoI on CHina fund flows, I am unable to fathom.
Why meddle with something unnecessarily? We had robust systems to control and monitor. Why not allow that to function Are we saying China is not wanted?
C'mon.
We don't need posturing just because a fool from an insignificant opposition mouthed and blabbered some nonsense.
Rules must be consistent and impartial. Do we accept takeovers from UAE, then? Or Malaysia? We don't share borders with them

My friend who is another CA has some interestign observations about post Corona post lockdown accounting.
All of us agree that this is a kind of Blackswan(jury is still out) event and needs some exceptional treatment.
Many Balancesheets are gong to be impacted due to the event 2/n
CAs are by far the least useful set of persons(alongwith ICWA/ACS kinds) in these kinds of situations.
They spend their times doing nothing.
In such times the CAs alongwith any COmmittee that the ICAI has got can spend some useful time to contribute to the society

@nsitharaman
As you battle with the virus my expectation is this can go on for another 3 months.
Probably by July-Aug we may return to normalcy, God willing.
Why not extend the financial year and merge it with FY 2020-2021 and have tax assessments for 2 years ending March 2021? There have been suggestions on extending by 3 months. But won't it take at least 6 to 9 months for all businesses to return to some semblance of order?
Hence my suggestion to merge 2 years and take up assessment after a year. You won't lose anything. People can adjust losses now

Travelled by MAS-TVM Super fast exp to Salem yesterday.
My experiences:
1. Madras Central has now the longest name it seems what with Puratchi Thalaivar etc as prefix.
2. Entrance to the station still a chaos. Front area is non passenger friendly and cars and vehicles hazardous 3. Getting onto platform area is an effort. Can't even roll your luggage by wheels. Maybe they expect everyone to engage Porter service.
4. Inside the station it was super clean. I am entering this station after nearly 2 years.Marked changes in maintenance standards

Considering everything the last 1 month returned twice the amount of Profits that we had in the previous 10 months. Another highlight I see is that the NAV hasn't marked a single day red below par except in the first month for around 10 days. We normally mark 1st day of trading in financial year as 100 NAV and proceed to calculate NAV on a daily basis.This is a marked improvement over prev yrs

10 crores may not be possible with 1 crore and much less with 10lacs and 1 lac.
My thumb rule is that my trading system must be tat which allows me to sleep 8 hours a day unmindful of CNBC's 24x7 telecasts saying 1000 different things which negate one reasoning at one time
10/n but confirms the same at a different time.

In act one thing I can share with you. I was trading at some point in time all of NSE FNO,MCX, Currency and NCDEX.
In 2013 post #NSEL I quit MCX trading inmany commodities, quit Gold/Currency in 2016 post Brexit and in 2019..
11/n

These queries are always asked of me whenever I meet with any new trader.
1.What is the best system that I can put into use while trading?
2.I have limited capital and how much is sufficient capital for me to start trading.
3.How do I progress in trading ?

1/n 4.I don't find progress in my trading levels even after so many years spent here in trading What do I do?
5.Despite all things being done by me properly my profitability doesn't improve. What do I do?
6.Can you suggest a profitable trading system to me?
2/n

People on my timeline express varied opinions on savings and investment and tax breaks for such savings citing importance of it.
Just look around your household and find how the habit of savings is ingrained in us by our ancestors.
Gold that you invest via ETFs us one such From the time a child is born till marriage and after on innumerable occasions gold is gifted by parents, grandparents, relatives.
These occasions are opportunities for saving. We have formalised them and say we invest in ETFs etc.
Again every household teaches the child to save

Some Sad Prince on my timeline has heckled at my directing a querist to refer to MHC case and he has also doubted the suthenticity of my seeing the "EVR atheist activists Chappal hitting competition in Salem in 1971.
My point was as to whether I saw naked effigies . Seriously? In 1971 I was 17 years old and had no means of preserving the images.
And till date nobody recreates life like effigies.Only symbolic ones. What difference,whether symbolic effigy is naked or dressed up? I fail to understand the "rationalist atheist" views about dress codes

The recent controversy in JNU is said to be triggered by the registration process:

First all of us must understand what is that process.

All these intellectually challenging Universities rope in new academics into courses via a process called registration.

1/n 2/n
But these specail universities adopt an elective process n the part of students to choose their subjects and classes.
And then there is a process called crediting a course and auditing a course..
People in engineering may credit various subjects but still audit economics

I recollect the days in TN back in 1971 when EVR garlanded Lord Ram pictures and statues with Chappals and Shoes.
Those days Christians in particular came out in strength to protest the behaviour of Periyarist slogans and ideas.
How things have changed over last 4-5 decades!

https://twitter.com/ofcabbageskings/status/1123827068247187456

The virulent anti Hindu campaign, I will squarely blame on the Christians-Muslims groups who found it easier to attack the Hindus and their religious beliefs as they weren't making great inroads prior to that.
Govts in TN weren't receptive to such ideas of conversion and hate
+

Actual earnings by trading in market recd by me as investor:
2011-12 22%
2012-13 16%
2013-14 6%
2014-15 15%
2015-16 13.5%
2016-17 6%
2017-18 20%
2018-19 23%
All are after expenses like charges, brokerage, management fees etc.
Avg Mgt Fees 2% Corpus The years we made only 6% were the years we tried systems which were not trend following and a lot of discretionary trades were taken.
In 2016-17 we chickened out on a discretionary position in Bank Nifty and PNB which if held would have enhanced the returns by 8% further.

Sarted reading Arvind Subramanian's Of Counsel: The Challenges of The Modi-Jaitley Economy:

Quite interesting book for such a lacklustre CEA in action. May be certain people are good only for lecture and teaching and not to be used in real life action? Interestingly he blames the ills of governance on 4Cs, truly following Modi, perhaps:

1.Courts
2.CAG
3.CVC
4.CBI

:-)