• Moved to another department in the company. Got a salary hike, a higher position and not to mention work related stress.
• Attended a weeklong ISMS course and got certified as a ISO 27001 lead auditor at the end of it.
• Read 33 books at an average of more than 2 books a month. The increase mostly due to listening to audio books.
• Watched more than 85 movies.
• Went for a relaxing holiday to Kuala Lumpur towards the end of the year.
• Celebrated Christmas at Hyderabad for the first time post getting married.
• Met some net friends personally after having chatted with them online for a few years.
• Investments in stocks and mutual funds went on as usual.  Towards the end of the year, the whole equity portfolio was in red barring a few stocks. Though the mutual funds portfolio is quite profitable.
• Completed 11 years in Singapore.
• Blogging took a backseat.  I have no plans of abandoning this medium though i have been more active on Facebook.
• Took the longest vacation (of a month) ever since i started working. It started off as a normal vacation but circumstances forced the vacation to be extended.

Previous years recap: 2008, 2009, 2010

More excited about 2012 as i have some big plans lined up and if they all work well, it should be yet another defining year in my life.

Update: And ya, this is my 700th post. Cant believe i have managed to spew out so much in 4 years.

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Its that time of the year to clear leaves and also to stretch your legs and relax.  What better time to spend Christmas back home with family and friends.  Going back home to Hyderabad tonight.  Will be back in Singapore only in the new year.

Lots of cakes, cookies, appam, stew, hyderabadi biryani and the festivities await.  This will be our first Christmas back home since I got married.  Really looking forward to it.  Looking to go around the city and take the sights and sounds of the city i lived in.

Its really been a wonderful year. Tough no doubt but, professionally satisfactory.  At the beginning of the year moved to a new department, attended a course and got certified.  Worked in a more structured way.  Learnt the importance of documentation and keeping my foot down to say NO.

Raring to go into the new year.  Lots of things planned for the new year.  Gotta make some really radical decisions.  Cant wait.  Not to mention, completed 11 years in Singapore on the 4th of December 2011.  Time has just sped by.  Have spent a third of my life here in one of the most progressive and dynamic cities in the world.  Have made some great friends for life.

Let me take this opportunity to wish the best of the season to all of you and your loved ones.  Have fun and enjoy the holidays.

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Petronas Towers at dusk

Christmas @ a mall

A fish sculpture

Fountain

Liberty on wheels @ Genting

Chilly, misty afternoon @ Genting

Looooooong cable car

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Tree inside Takashimaya

Ion Orchard

Orchard Central

Orchard Central

Orchard Central Orchard Road

Paragon

Tangs

Takashimaya

Plaza Singapura

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Time to say NO.  My weekends are mine and don’t expect any great favors in case of any problems during weekends.  I have a right to life beyond work and I intend on living it.

Now if only i could hold on and use my anger constructively.  Time to keep my cool, study and strike when the iron is hot.

Above picture courtesy: Cartoonstock

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Wishing the best of Onam to you and your loved ones.

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Will write soon.

I decided to not only save a small part of my salary but also start investing. Real estate was out of question as it required a bigger monetary commitment and i was loathe investing in land that could some day be encroached and i would need to run around the authorities and people in power to get them evicted.

The next best option was the stock market.  It didn’t require a huge upfront money and also because of Systematic Investment Plan (SIP), i could invest a small amount every month in the mutual funds.  Also because of demat, it was easy for me to buy small number of shares of the companies that i liked.  Since my knowledge of economics, finance and the stock market in general was a big zero, i had to educate myself.  I attended a few seminars, but at the end realised that they were nothing but big money making scams.

This is when i truly realized the power of the internet.  With some great help from Google uncle, i jumped headlong into an intense 12 month study of the stock markets. I searched for information like crazy on equities and mutual funds. By then i had more or less realised that i was going to concentrate primarily in the Indian stock markets.  A developing economy which
was consistently clocking above 7% growth every year and a huge market, i realised that if i could get in early, i could probably ride a 20-30 year long boom.

India was then just starting off.  The BSE Sensex was then around 4500 (it has since climbed to 21,000, then fell to 9000 odd and is now back to 19000). I remember reading an Indian business magazine that pointed to a target 8000 for BSE Sensex in a few months time.  I chuckled to myself at the audacity of that heading.  But still deep down in my heart somewhere I had the belief that we were looking at something spectacular that was about to happen.

Imagine a country of a billion people and with the economy clocking 7-8% annual growth in GDP, it was sure to hit a trillion dollars soon and if the rate of growth could be kept up, then the next trillion could come in 8-9 years.  Yes, there were and are lots of things that could derail the growth. Terrorism emanating from Pakistan being just one such issue. Poverty, rampant corruption (that has become a norm these days), a closed economy, religious and regional violence…many issues could be an impediment to India’s growth and thus hit my investments in the market.

But honestly, when you realise that you are in the pits, the only way to go is up.  I took the risk and opened a demat account.  Tata Consultancy Services (TCS) was getting listed on the Indian stock markets for the first time ever in 2004.  I applied for the IPO and was allotted a measly 7 shares at 850 rupees each.  I was disappointed at not having been allotted more. Nervethless,  i held on.  A few months later the stock hit 1400 rupees.  I sold off at almost 550 rupees profit per share.  I made more than 3800 rupees (not accounting for taxes) in a few months by investing in TCS.

I had tasted blood.

Target 2015 continues….

Above target picture courtesy: David Hawkins

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First & Second Anniversary posts

Above picture courtesy: Lovelife

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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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