Happy Independence Day

Friends

Greetings for the 67th Independence Day. Our country got independence exactly 66 years back from the clutches of England. There were many other countries who got independence during same time or later. In last 75 years, the worldwide scenario has changed drastically in terms of technology, Development, Social and Economic matters. In those days it was quite easy to change the geography of any country but now it is almost impossible at least in near future. The world in those days was balanced with two super powers but now only one single power .

Our country has seen lot of events and faced lot of challenges including 3 full fledged wars and lot many hidden wars. In last 30 years, terrorism has taken its great toll. Politically in our country instead of two party dominance, there are large number of small parties who run them as private limited company where business interests are more important than the national interest.  

Wish that soon our political situation gets matured we put national interest above all.

CP

Tap Dancing to Work

Friends

Recently finished a wonderful book "Tap Dancing to Work" by Carol J. Loomis. This book is basically compilation and analysis of Annual Letters, Comments and Interviews of Legendry Warren Buffet. This covers his entire professional life and  more particularly from 1966-2012. His straightforwardness, Simplicity, indepth knowledge of subject and communication style is worth reading. Even jokingly he would comment in such a way that the message would go loud and clear. He is truly god of investment and management. Here are some of his comments I noticed in the book:

1. " All I want to know is where I am going to die so I will never go there."
2. "Gold is a barren asset; bonds are seldom rewarding to investors; well chosen productive asset like common stocks and land are the logical prospects to deliver superior returns."
3. When a management with a reputation for brilliance tackles a business with a reputation for bad economics, it is usually the reputation of the business that remains intact. You should invest in a business that even a fool can run, because someday a fool will.
4. Never invest in a business you can not understand.
5. you should get greedy when others are fearful and fearful when others are greedy.
6. It is better to be approximately right than precisely wrong.
7. It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
8. A very rich person should leave his kids enough to do any thing but not enough to do nothing.
These apart the book gives insight into lot of other issues related with Warren.

CP