It has to be non-fiction. Fiction is a big no-no to me. I cant bring myself to waste time reading fiction. If at all i want to read fiction, i would rather watch a movie that is made on that book. Saves me considerable time considering the fact that iam a slow reader.

Biographies are an instant pick up for me. Doesnt matter the background of the author or the person the book is based on. I have read biographies of Warren Buffett, Lance Amstrong, Louis Gerstner, Andre Agassi, Steve Jobs, Hillary Clinton, Michael Dell, Jack Welch, Kishore Biyani, Richard Branson etc.

Books on finance, investing, stock markets, management, science etc are also my favourites.

Book recommendations in magazines or by successful people like CEOs or other management people who have read books and recommend the same.

Random search on google or amazon after i have read a particular author and liked their writing.

Listening to audio books is my favorite method of reading. Earlier, audio books had someone reading out in a droning voice which could put you to sleep as soon as the books started. Today professional readers pour emotions into their reading with perfect voice modulation which makes listening to a book very much interesting. Sometimes its the author who himself / herself reads out the book. Sometimes its a professional reader and these have made listening to audio books much interesting.

Earlier i used to complain that i had no time to read books till someone nailed it as excuses. I spend at least 2 hours daily commuting to and from work. Mostly the time is spent looking around or listening to some inane radio DJ railing about some crap in between the same songs that you have been hearing for years now. Not to mention the ads that keep popping in between the songs.

I started with one audio book first. It was a bit difficult concentrating on listening to the book. 2-3 books later, you learn to control your mind and concentrate on listening to the book. Honestly today, i hate wasting time listening to songs or radio. I put on an audio book even when i go jogging or ironing clothes at home.

List of books that i have read are here

Above picture courtesy: ArabDetroit

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The whole collapse was fueled by the excesses of the financial institutions and the professionals who were a part of them.  Technology ensured that that complex financial products like CDOs were sold to institutions, retail investors.  People with no jobs were given loans to buy property, excessive salaries for brokers, heads of major financial companies only made them greedier leading to more and more desperation in inflating sales so that they could take a bigger and fatter pay packet at the end of the month.

Prostitution, fake bills, consuming cocaine and other forms of drugs, splurging on luxury goods, bay-front properties, casinos etc was the order of the day for the bankers, brokers employed in these institutions on Wall Street.

According to this list provided by the Federal Deposit Insurance Corporation, more than 370 banks have closed down since the beginning of 2008. An estimated $14 trillion was lost because of the crisis.  And that is just a lower estimate.  The true cost of the whole crisis might never be known.  Millions of jobs lost, tens of millions of people pushed back into poverty.

All those responsible for the crime were never brought to justice, nor will they ever be. Some of the ones who violently opposed any form regulation of the financial industry which was the basic cause of this financial crisis are now sitting comfortably in the seats of power.  They are today part of the government.  Alan Greenspan, Ben Bernanke, Timothy Geithner; everyone contributed their part to the crisis not to mention Dick Fuld (Lehman Brothers), Angelo Mozelo (Countrywide Finance), Hank Paulson (Goldman Sachs & Treasury Secretary in 2006), George Bush, Bill Clinton etc were in some way or the other responsible for the mess we find the world in.

During the boom years of the 2000s, there were lots of people hectoring the Reserve Bank of India (RBI) for taking a conservative stance and blaming the RBI for not opening up the financial markets to the so-called reform that the US was doing. Its that same conservatism that shielded India and its banks from getting smashed up by the tsunami created in the US and world financial markets.

For years, the Wall Street had been my dream place to work.  I loved the whole idea of minting money the way the bankers made.  From the late 90s till the collapse in 2008, i had a rosy idea of these places. In fact, my dream job would have been working with Lehman Brothers, Merrill Lynch etc.  As i kept reading about the collapse in 2008 and the circumstances that lead to it, it not only crumbled my dreams but also made me think if i could have handled such a life of debauchery & lies that were commonplace in this industry.

Would i be able to mis-sell a product to a retail investor and then go home and sleep peacefully?  The movie raises a lot of questions about morality and your job.  For every parent who wanted their kids to join the financial industry and make tons of money, this movie is an eye opener.  Money is there in abundance, but what we need to realise is if there is the moral compass that can guide us when the excess money flows in.

Are you an investor in real estate, stocks, bonds, mutual funds etc?  Are you planning to make a career in the financial industry?  Do you know someone who works there?  This movie is a must watch and the book “The end of Wall Street” is a must read.  Roger Lowenstein writes a blow by blow account of the last few days of the collapse of the Wall Street.  Its a riveting read.

And yes, if this doesn’t outrage you, nothing will.  Because in the world of finance, there is something called TBTF (Too Big to Fail).  Just become big by hook or by crook and then the government will ensure that you will never fail.  They will always bail you out no matter how big an asshole you have been.

“If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J Paul Getty

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Not that many people visit this site. Hardly gets around 100 hits a day unless some troll decides to brighten up an otherwise dull day. When i was with WordPress, the blog used to have thousands of hits daily. Not to mention that i used to blog much more regularly out there.

With the amount of work, i hardly have time to catch up with friends. Blogging has sort of taken a secondary interest in life. But i still cant believe that i could sustain interest for over 7 years. Meanwhile have finished reading some good books. Most of my updates on the blog have been on the Movies and Reading pages. They are the only ones getting updated constantly. Read a book on Cleopatra by Stacy Schiff. Being a history buff, i liked the book. Wish i could find some movie or documentary on the same.

Also finally finished reading “The Warren Buffett Way” which i had been reading on and off while simultaneously reading other books. The other one is the unofficial Dhirubhai Ambani biography “The Polyester Prince” which also have been reading in fits and starts. The only way i seem to be able to finish a book faster is by listening to audio books. E-books and physical books seem to be taking months for me to finish. Its precisely why i have no interest of going in for an iPad or a Kindle. I think i will stick to audio book readers till the time i can improve my reading speed.

Still, have managed to finish about 19 books in the first 6 months of the year which i believe is pretty good enough. The target was to read a book a month. I have far exceeded that target. The next book that iam excited about reading is “Why Men Hate Going To Church – David Murrow“. The title of the book so defines me. My parents tried for more than 30 years and my wife has been trying for the past 3 years. I still cant bring myself to voluntarily go to church on a sunday. Not do do anything with my beliefs. I do pray regularly, but church is one thing that has been unable to keep me hooked. Maybe this book will give me some pointers on this issue.

Have watched some good (Hanna, X-Men, Millenium trilogy of Stieg Larsson) and lots of not so good movies over the past few months. Pyaar Ka Punchnaama as well as Shaitan were good too. As for telugu movies, the lesser said the better.

Time flies. We are almost into the 2nd half of the year. Time for me to take stock of the situation and make some hard choices. Do i still want to continue with what i have been doing all along or take the plunge into the unknown? Maybe the coming few months will give me the answer. Meanwhile what i need desperately is a holiday.

Above picture courtesy: Lifeconnectionchurch

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Anyways, once out of the workplace, i try to shut myself off and turn to my other interests.  Reading and music.  Finished reading the Andre Agassi biopic.  Its simply an awesome read.  A flawed genius with no genuine interest in the game, Agassi with his talent and hardwork became the true legend of the game.  Forced into a game he hated, by his father and sent early on in life to the Nick Bollettieri academy which Agassi describes more as a prison than a place for kids to enjoy the sport, he rebels.  Against the system, against his father, against Nick, against the sport, against media and against himself.

On his path to self-destruction he meets people like Gill (his trainer), Brad Gilbert (his coach) who pull him out of the morass he keeps digging himself into.  Not to mention his friends like Perry, JP and his own brother who form a protective cocoon around him to try shield him against the pressures.

The book is a magnificent read.  Agassi doesn’t yield, nor does he stop from pulling his punches.  I cant believe that a sportsman can write in such beautiful way so as to completely arrest you to the description of events in his life.

Love tennis, hate tennis, one thing is for sure that the book is not a put down.  Some of the games that he describes is sure to transport you to the minds of the person that is Agassi.  His sudden self doubts on his ability, his inability to finish off games, his on court rivalry with Pete Sampras, Boris Becker and numerous other players, the book is a riveting read.

I have read quite a few biographies till now.  Lance Armstrong, Louis Gerstner, Jack Welch, Warren Buffett etc…but this one sure is one among the best i have read.

I have always been a Sampras, Becker, Stefan Edberg fan, but never had any kind thoughts towards Agassi because of his constant threat to my favourite Sampras.  Reading this book has completely changed my opinion of the man.  Ya, he might be a flawed genius…but yes, he is a genius still.

The only other enthusiasm that i share with Agassi is Steffi Graf.  The only female tennis player i have ever idolised. Two champions and their offsprings are sure to be prodigies themselves, but then both Agassi and Graf decide that their kids will never be forced to take up the sport that both despised so much.

Now, that is what i call…perfect parents.  Not trying to see your dreams being realised through your kids, but to appreciate your kids own talent and let them bloom in whichever career they want to.

Open: An Autobiography
Author – Andre Agassi
Pages – 400
Publisher – Knopf

My rating: * * * * *

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Work is too hectic.  Been more than a week into the new position.  Lots of responsibilities and lots to learn.  Challenging no doubt, but happy that Iam learning a lot.  Been stuck in the rut for some time now.  Took this leap of faith and till now, its been pretty satisfying.

The markets have been on a roller coaster.  Up one day and down the next 2 days.  Havent had time to look at my portfolio which has been red when i saw last week.  Not thinking much about it.  Bought some good companies (i believe) on the dips and i will now wait for the market to go up.  There are indications that it might go down further.  No worries.  Will wait for it to go up.

Meanwhile, the cricket world cup is in full flow.  India is now on the top of the table, but had just one challenging match (against England).  The match against South Africa this weekend will be the one to watch out for.

Meanwhile reading a lot of finance / investment books.   Am in the process of making changes to my career and life in general.  As and when significant changes happen, i will update here.  Till  then, let things drift.

There was a time when i had trouble reading one book.  Today, am simultaneously reading 4 books, 2 magazines and books related to the course iam attending.  Not to mention technical documents related to work.   I cant believe that i have time to do all that.  Wifey hasnt had any complaints that iam not spending time with her.  In the past few months, have gone to the Zoo, Bird Park, Marina Bay Sands, Singapore Science Center and a few other places with her.  More places here in Singapore to explore.  Wanted to go overseas for a holiday, but am waiting for some time for me to get settled into the new job responsibilities.

Time isnt a hindrance if one plans properly.  Earlier, i was too lethargic. This year of the rabbit has been too good for me already.  Hope the luck stays.  I need it.  Have a lot to achieve this year.

The woods are lovely, dark and deep,
But I have promises to keep,
And miles to go before I sleep,
And miles to go before I sleep.
- Robert Frost

A big thank you and wishes to all the women who have touched me in some way and been a part of my life.  Thanks a million.  Wishing the best on the centenary celebrations of the International Womens Day – 2011.

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Another phase in life.  Hope to pull through this period of transition successfully.

Meanwhile read so many books and iam yet to find any time to write their reviews.  In the past month have finished reading the following books

The God Delusion – Richard Dawkins

Mobs, Messiahs and Markets – William Bonner & Lila Rajiva

Good to Great – Jim Collins

Cultures of the World – Austria

Moscow – Eyewitness Travel

Currently am reading  Taliban: Militant Islam, Oil and Fundamentalism in Central Asia by Ahmed Rashid.

Above picture courtesy: Neptune Library

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Yup, its tough to believe that a man who lives such a colourful life, flies over the pacific and atlantic oceans in a balloon, jumps off planes, does all kinds of wierd stunts to keep his business in news was dyslexic as a kid.  He had trouble reading, was one of the worst student in class.  But started off his life running a music store, which moved on to record label (Virgin music), music business to one of the most loved airlines in the world (Virgin Atlantic) to running a telecom company (Virgin telecom) to tens of other business.

The book starts off with his exploits on trying to cross the Atlantic in a balloon where he cheats death to his childhood life and then to his music business where his label published such world class music groups like the Rolling Stones, Phil Collins, Janet Jackson etc.

The dirty tricks that British Airways use to discredit, defame and try to kill the small and fledging Virgin Atlantic is also described in vivid detail.  The end of which Branson sues the whole top brass of British Airways and gets not only monetary compensation, but also an unreserved apology from the British Ariways brass.

Virgin Group founder Richard Branson says one of his prime business criteria is “fun.” Fun made Branson a billionaire, and few business memoirs are one-billionth as fun as Branson’s, nor as niftily written. Not only does it relate his side of near-death corporate experiences, it tells how the chairman literally cheated death by gun, shipwreck, and balloon crash.

Branson’s empire–now encompassing interests in an airline, pop music, soda pop, e-commerce, and financial services–began when the dyslexic 16-year-old dropped out of school in 1968 to found the British magazine Student. His headmaster said, “I predict that you will either go to prison or become a millionaire.” Briefly imprisoned for dodging customs selling records, Branson got his first million by releasing Tubular Bells, a maverick recording all the stuffy executives rejected. (1998′s Tubular Bells III puts the series’ sales over 20 million.)

Despite wild tales of Branson’s wife-swapping and Keith Richards fleeing naked from Branson’s studio at gunpoint with another man’s woman, the most shocking parts of the memoir concern British Airways’ James Bond-like “dirty tricks” campaign against Virgin Atlantic, resulting in the biggest award for damages in English history.

Though it’s filled with famous names, witty quotes, and pulse-pounding accounts of lunatic balloon adventures, it is as a business thriller that the book really scores. His instinctive bet-the-ranch tactics could cost him all, or earn another billion. Either way, Branson will likely remain the most entertaining entrepreneur in Europe

-source: Amazon

Losing My Virginity: How I’ve Survived, Had Fun, and Made a Fortune Doing Business My Way
Author – Richard Branson
Pages – 416
Publisher – Crown Business

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Linchpin is the first ever Seth Godin book that i have read.  Though am not really a fan of self-improvement books and generally stay away from it.  I had seen quite a few of his talk videos on TED and loved it.

Godin speaks about shunning doing things the regular way and trying to be an Linchpin at the place of work.  Someone who should become indispensable to the place you work in.

According to Godin, a Linchpin is somebody in an organization who is indispensable, who cannot be replaced—her role is just far too unique and valuable. And then he goes on to say, well, seriously folks, you need to be one of these people, you really do. To not be one is economic and career suicide.

Linchpin is a most unusual, well-organized, concise book about what it takes to become indispensable in the workplace – whether you work for someone else (at any level) or are self-employed. It’s about how business has rapidly changed and how treating employees like factory workers (or doing your job like one) doesn’t work any longer. We must make choices and take action to “chart our own paths” and add value that others do not. We cannot wait for a boss or a job description to tell us what to do, rather we must just take the initiative ourselves. Only then can we become indispensable “linchpins,” rather than replaceable “cogs.” There are so many fantastic quotes in the book too.

“You don’t become indispensable merely because you are different. But the only way to become indispensable is to be different. That’s because if you’re the same, so are plenty of other people.”

source: Amazon

I did find the book a tad repetitive.  Neverthless its a good read.

Linchpin: Are You Indispensable?
Author – Seth Godin
Pages – 256
Publisher – Portfolio Hardcover

Most surprisingly, it was engaging and i was never bored.  Considering the short attention span that i have and the trouble i have listening to a 5 minute talk without my mind wandering off;  I managed to hold my concentration well to listen to the whole book.

For starters, the book is not exclusively about the investments of Warren Buffett, its just a part of that.  The book is all about Buffett, the man, his family, friends, investors, rivals (if any), his fears, his interests, his integrity, his failings, his winnings.

If you are someone who idolises Warren Buffett, then stay away from this book.  It does present him in a not-so flattering way.  There are constant references to how Buffett shies away from confrontation with people, his little quirks, his almost complete dedication to his work that he almost ignores his wife who loves him unconditionally.  The ignorance leads to separation of Buffett and his wife (but they never divorce).

Its said that when the book released and Warren realised the not too flattering account of him in the book, he distanced himself from the author of this book, Alice Schroeder.

The book starts with a detailed background description of Warren’s parents, Warren’s growing up days. His almost obsessive pursuance of money from a young age.  At a age when youngsters of his age are busy playing, Warren distributes papers, chewing gums, pepsi, works as a caddy etc to earn his pocket money, file income taxes for the first time at the age of 14.  Warren’s interaction and working with his guru, Benjamin Graham is also mentioned in the book and also Graham’s influence on Buffett.

At the age of 11, he buys 3 shares of Cities Service Preferred for himself, and 3 for his sister Doris.  He sells the shares at a small profit and then looks on as the stock price goes up 10 times.  That’s when he learns his first lesson. And that is “If you really believe in the company, then the holding period for the stock is almost forever”

His investments in Coca cola, Geico Insurance, General Re, Borsehims Jewelry, Net Jets, Star Furniture etc is legendary. Not to mention the down to earth and modest nature of the man who stil stays in the same house he bought in 1957 for about $31,500.

Inspite of being the world’s richest person he doesnt indulge in the usual rich people’s intersts like yachts, jewellery, mansions, ranches etc.

For someone who was known as being tight fisted when it came to donating money to his own children, he decided to donate a significant amount of his assets to The Bill & Melinda Gates foundation.  The following saying by him highlights his thoughts about wealth

I don’t have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks on society. It’s like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. And the GDP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don’t do that though. I don’t use very many of those claim checks. There’s nothing material I want very much. And I’m going to give virtually all of those claim checks to charity when my wife and I die.

Some more quotes by the man which i have found interesting over the years i have read about him.

• It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently

• Only when the tide goes out do you discover who’s been swimming naked

• You only have to do a very few things right in your life so long as you don’t do too many things wrong

• I always knew I was going to be rich. I don’t think I ever doubted it for a minute.

• I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.

• I buy expensive suits. They just look cheap on me.

• If past history was all there was to the game, the richest people would be librarians.

• Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.

• Price is what you pay. Value is what you get.

• Risk comes from not knowing what you’re doing.

and my most favourite one….

• Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.

The Snowball: Warren Buffett and the Business of Life
Author – Alice Schroeder
Pages – 832
Publisher – Bantam

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Philip Arthur Fisher was an American stock investor who wrote this book Common Stocks and Uncommon Profits way back in 1958.  Just like Benjamin Graham’s bible of investing, The Intelligent Investor, this book is also considered to be a must read for anyone planning to invest in the stock markets.

Philip Fisher is considered a pioneer in the field of growth investing. Morningstar has called him “one of the great investors of all time”. In Common Stocks and Uncommon Profits, Fisher said that the best time to sell a stock was “almost never”. His most famous investment was his purchase of Motorola, a company he bought in 1955 when it was a radio manufacturer and held until his death in 2004.

Perhaps the best-known of Fisher’s followers is Warren Buffett who has said on some occasions that “he is 85% Graham and 15% Fisher”.  (source: Wikipedia)

Fisher goes on to give a lot of Do’s and Don’ts for investors.  A few of the Do’nts include

• Dont buy into promotional companies

• Dont ignore a good stock just because its traded over the counter

• Dont buy a stock just because you like the tone of its annual report

• Dont overstress diversification

• Dont be afraid to buying on a war scare

• Dont fail to consider time as well as price in buying a true growth stock

• Dont follow the crowd

Fisher also goes about sharing his ideas of how he goes about finding a growth stock.  Fisher talks about using the Scuttlebutt method to investing.  This means that the relative points of strength and weakness of each company in an industry can be obtained from a representative cross-section of the opinions of those who in one way or another are concerned with any particular company.  Also he talks about talking to the vendors, customers etc to find the correct information needed for your investment in that particular company.

Common Stocks and Uncommon Profits
Author – Philip Arthur Fisher
Pages – 271
Publisher – John Wiley & Sons

Above picture courtesy: Nickgogerty

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