"If you can do it then
why do it?"
—Gertrude Stein (American,
1874-1946)
Word for the day
Wastrel (n)
A wasteful person;
spendthrift.
An idler or good-for-nothing
person
Malice towards none
When all the TV channels in
the country unashamedly air private moments of an aspiring politician, why
don't I hear a word from the crusaders of the Right to Privacy?
SC has upheld the right to
privacy as a fundamental right.
Why should the police not
take a suo moto action against people violating this right of Hardik Patel?
First random thought this morning
Any regular visitor to Mata Vaishno Devi Shrine would know that
VIP culture has not spared this temple, like any other. It is common to see sundry
government servants and their families being escorted by the soldiers in
uniform. A number of people carry VIP slips for a privileged tryst with the
Divine, while the common people, old and young, man and women, feeble and
strong, all struggle in long queues.
The recent NGT order to limit the number of visitors to the holy
Shrine will only exacerbate the VIP influence at the expense of the
unprivileged devotees. But that is the story of all temples.
I find this appropriation of Deities by VIPs blasphemous, only
when I fail to get a VIP ticket. What about you?
Strategy Review - 2
Considering the recent global and domestic developments (some of
which I discussed in past couple of posts) I would like to factor in the
following assumptions in my investment strategy for next few years.
It is important to note that these are strategic considerations in
Indian context, and may or may not reflect on the short term investment
strategy for 2018, that I will be sharing with the readers in 4-5weeks.
Factors be incorporated in strategy
(1) Higher inflation.
(2) Higher cost of capital.
(3) Technological
disruptions in the areas of mobility and financial services. Going by the
current views, the pace of obsolescence and redundancy could surprise the
markets.
(4) Prospects of an intense
cold war and a bi-polar world. India most likely ends up in the grouping led by
US and including Japan. However, any ambivalence on part of India, might prove
to be massive disaster in terms of foreign policy and trade.
(5) Greater emphasis on
import substitution.
(6) Higher volatility
(7) Lower growth in real
income
(8) Rise in risk premium
(9) Stronger INR
(10) Climate change
Strategy implications
·
Higher weight for commodity producers and
resource owners and lower weight for resource consumers.
·
Higher premium to free cash flows and operating
leverage.
·
Lower weight to passenger mobility and
conventional fuel.
·
Higher weight to domestic consumption,
especially upper middle class.
·
Higher weight for sectors with large negative
trade balance.
·
Lower leverage.
·
Higher allocation for expenditure necessary for
more household members to go out for work.
·
PE De-rating.
·
Business automation; lower job-investment ratio;
economies of scale.
·
Lower dependence on conventional fuel.
·
Also see
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