Mr. Vinay Modi has a unique air about him. I have not seen in person a better storyteller and such an amazing physiological analyst in life. No matter which VM lecture one attends, the audience cannot come out unimpressed. Same was the case with me yesterday wherein he delved into the world of marketing, selling and advertising. And how much I loved it!
The session started of with numerous quotes and standard definitions projecting on the screen. While he took care to read them along, the way he connected to conventional with the contemporary was out of this world, giving you the feel of things happening 'live', as if you are witnessing marketing in a new light. Each topic ended with a apt examples describing the concept in intricate detail, doubling the feel - at least for me! Overwhelmed with his knowledge as I was, I couldn't help but think how I wouldn't hesitate to attend VM's lectures even in the middle of the night!
-Sumeet Seth (sumeets29@gmail.com)
Sunday, October 11, 2009
Friday, October 9, 2009
Waking up to the importance of Google groups
Of late, there has begun a concerted effort to enlist the contact details, hostel room numbers et al of all my batch-mates in the final year of mechanical engineering, and it's humbling to see the results. Everyone has come out in great support of the move, with details pouring in from each member of our Google group.
The question that comes up in my mind is: Why wasn't this done before? I mean, we have been together in the department for more than 3 years now. The group was formed just months back (ostensibly for placement representatives to co-ordinate with the rest of the batch). Are we just too careless about sharing a common platform and helping each other or was it because of sheer ignorance about the existence of a mechanism called 'Google groups'. It don't think it is the latter.
Now this is not a rant. It feels great to see such 'helping each other' and 'I care' attitude on Google groups these days, but one fails to forget those initial times when things never went our way, the way the 'batch' wanted it to be; activities were dependent on the whims and fancies of a handful of people. The bonding, the arguments, the good wishes; everything is truly appreciable now that we have only months to go, that we have so little time left to harbour any bitter feelings.
But then, it is sad precisely because of this reason; we have so little time left.
-Sumeet Seth (sumeets29@gmail.com)
The question that comes up in my mind is: Why wasn't this done before? I mean, we have been together in the department for more than 3 years now. The group was formed just months back (ostensibly for placement representatives to co-ordinate with the rest of the batch). Are we just too careless about sharing a common platform and helping each other or was it because of sheer ignorance about the existence of a mechanism called 'Google groups'. It don't think it is the latter.
Now this is not a rant. It feels great to see such 'helping each other' and 'I care' attitude on Google groups these days, but one fails to forget those initial times when things never went our way, the way the 'batch' wanted it to be; activities were dependent on the whims and fancies of a handful of people. The bonding, the arguments, the good wishes; everything is truly appreciable now that we have only months to go, that we have so little time left to harbour any bitter feelings.
But then, it is sad precisely because of this reason; we have so little time left.
-Sumeet Seth (sumeets29@gmail.com)
Thursday, October 8, 2009
Another financial crisis in the offing
A U-shaped, V-shaped, W-shaped recovery? Leave the economic analysis aside. From what I can infer, there will definitely be another financial crisis, may be not on the same scale as the previous one; but it will happen for sure. Dead sure. Period.
Here goes the rationale behind my argument.
Tell me the name of countries which, subsequent to the horrific meltdown that we witnessed last year, actually reformed their regulatory system, tightened their grip on the so-called credit rating agencies who, if I may say, are to blame for the meltdown as much as the banks who sold packaged exotica (CDS, CDOs, what not!) to investors. There's just one country. The Netherlands. That is it. No other country has implemented any legislation to curtail the unfettered freedom given to banks and financial institutions, to control the insane payouts to corporates and to curtail financial wizardry.
Having said that, I will add that the window for action is shrinking - and that too at an incredibly fast pace.
In the US, considering the clout wall-street wields on capitol hill and with bankers spending millions of lobbying dollars to stall attempts to tighten regulatory grip, I seriously doubt the outcome of promises given with regard to teach them a lesson and to 'prevent another crisis'.
Interestingly, at the same time, wall street investment banks seem to have conjured up another big idea to make money. This one involves 'securitization' (ironic term I'd say!) and repackaging of life insurance policies and selling them to investors like big pension funds (again!) - needless to say, with the help of credit rating agencies.
So, even as Washington debates increased financial regulation, bankers are scurrying to concoct new products, quickly returning to their old ways of chasing profits with complicated new products. And given the persisting hectic lobbying, there seem to be little chances of tightened regulation in the future.
In short, it is a quick return to the good old days for wall street. What I fear the most is that all this stimuli, these hopes of a recovery, everything might vanish into thin air.
It will be a W-shaped recovery after all.
-Sumeet Seth (sumeets29@gmail.com)
Here goes the rationale behind my argument.
Tell me the name of countries which, subsequent to the horrific meltdown that we witnessed last year, actually reformed their regulatory system, tightened their grip on the so-called credit rating agencies who, if I may say, are to blame for the meltdown as much as the banks who sold packaged exotica (CDS, CDOs, what not!) to investors. There's just one country. The Netherlands. That is it. No other country has implemented any legislation to curtail the unfettered freedom given to banks and financial institutions, to control the insane payouts to corporates and to curtail financial wizardry.
Having said that, I will add that the window for action is shrinking - and that too at an incredibly fast pace.
In the US, considering the clout wall-street wields on capitol hill and with bankers spending millions of lobbying dollars to stall attempts to tighten regulatory grip, I seriously doubt the outcome of promises given with regard to teach them a lesson and to 'prevent another crisis'.
Interestingly, at the same time, wall street investment banks seem to have conjured up another big idea to make money. This one involves 'securitization' (ironic term I'd say!) and repackaging of life insurance policies and selling them to investors like big pension funds (again!) - needless to say, with the help of credit rating agencies.
So, even as Washington debates increased financial regulation, bankers are scurrying to concoct new products, quickly returning to their old ways of chasing profits with complicated new products. And given the persisting hectic lobbying, there seem to be little chances of tightened regulation in the future.
In short, it is a quick return to the good old days for wall street. What I fear the most is that all this stimuli, these hopes of a recovery, everything might vanish into thin air.
It will be a W-shaped recovery after all.
-Sumeet Seth (sumeets29@gmail.com)
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