I am about 600 pages into this book. 'The Snowball: Warren buffett and the business of Life' by Alice shroeder and i ve been at it all day till about 10 mins ago.
It is a BIG book - 950+ pages and pages nearly double the size of a regular paperback - the bestest biography on the great man EVER written (I own quite a few of them) - and will be the greatest one ever- its official - means - its actually authorized by him, he appears to have done lots of elaborate interviews, several contacts have been tapped etc.
While Buffett-watching has become common enough these days, ive been reading about him since as long as i can remember - the first exposure was when i was in class 11 or thereabouts from an article in Business India - back in college, i had some of his letters to shareholders printed out, sprial bound and even had juvenile, 'intrinsic value = sum of distress sale value of assets+present value of all the future cash that can be extracted out of a business' style valuations made of specific stocks and posted them on webgroups.
Most of the other books about him (which are just run of the mill, business booksy type trash) and of course the related bibles of value investing 'Graham & Dodd: Security analysis' and the famous 'Intelligent Investor' - for people not interested in stocks, unfamiliar with terminology - are plain unreadable.
This one, is entirely different. Written from a poet's* perspective - its an almost day by day account of the Great man's life from when he was born somewhere near the great depression to when the book was published- 2008.
A regular follower of Buffett's letters to shareholders, related articles that one encounters often these days surely will know that hes not normal. Hes complicated, preachy, funny and one-ofa-kind.
His style, school of thought - the so called - Graham Doddsville - first principles - to me represent BY FAR the most basic, simplistic, reproducable, logical way to work with & handle money.
I dont have a SHRED of doubt when i make such a sweepy statement - That said, the first principles must be applied with caution, improvisation and common sense to achieve results, of course.
Back to the book now - what turns me on so much about it is the level of detail in descriptions - information on not just his successes - his mistakes, quirks, basic methods of functioning, the people hes been associated with and his personal life.
The whole reading experience provides one with so much perspective about:
how to run a business - how some of his super-businesses got built by their founders - is obsession with work right or wrong - how important are people around you for your own success - how one should slowly mould their work around what basic personality types they actually belong to - is wrapping your ego around your business right or wrong - the definition of 'cold, calculative' - the importance of a reputation, the importance of honest dealmaking - the importance of having a content, fulfilling personal life & a stable family - and of course, it offers this irresistable peek into how the guy actually built up this fortune from scratch.
One of those books which fills up your chest with optimism, make you re-read specific chapters and has 10 times more stimulus to bombard your senses than a lifetime subscription to playboy (or a HD quality DVD of the splendid Vicky, Christina, Barcelona* (Director's cut))
* P.S - Sidetrack - Just to spice the post up a little :)
Vicky,Christina, Barcelona - It is a must watch, i tell you.
I cant really compare it with X, Y,Z or adequately write a review for it. Roughly described its a woody allenish version of sophisticated, European style movies that are sometimes shown these days - often in European languages - ones involving complicated (often unimaginable, for the Indian viewer) romantic angles, complex young people/middle aged people who set off on emotionally, sexually charged quests to discover more about larger truths and more about themselves.
Even if you are an arse who prefers watching 'Mummy 2' to this one (cant resist taking a dig at the Idiot Sibling (IS)) :x) -you still wont miss the excitement because - Vicky CB features atleast two goddesses (1 and 2 ) showcasing their acting talents & um,assets.(somtimes alone, sometimes in 2s or even in 3s in the odd scene or two)
Sunday, 22 March 2009
Friday, 20 March 2009
ISB
Another really hectic week at work.
Me, Zeenat & Marlon Brando (MB) are writing cheques left, right and center buying up Reactors, Micronizing systems (Automatic, pneumatic conveying to blender), and Clean room panels for (making Air conditioned, Class 100,000 - 30 changes per hour) finished product rooms.
The expense is getting so massive that when me & MB were calculated payback figures earlier today - he actually put down the paper, smiled with resignation & said 'WTF' (Or the madurai tamil equivalent. 'mayira potchu')
However, heres the most interesting bit of news of the last few days - i have been subtly 'encouraged' by MB, even prodded a little by zeenat to apply for a 1 year MBA - Local/Phoren doesnt matter - but 1 year - strictly.
The sudden change of mind can probably be attributed to the fact that most of Z's relatives from palakkad must have felt that putting me on the market without a master's degree is an insult to Z, her pedigree and her brood of greatly educated, studly relatives with 'Good postgraduation in chemistry' or 'Good Management degree from college in Bombay'.
Ive heard that some of these 'athais' and 'athimbers' who advise Z fulltime over such affairs actually gossip that my father's side of the family are 'uncivilized' [ 'Endi Pattu! Raji aathukaarare paathiya, Nadar aatama tamil pesarar! Enna kovam di amma avarku! Naalellaam orre nelavoli! Raji paavum aakum ] and that because of this fact, her offspring too are tainted and putting one such specimen on the market without a job in IT or an MBA is near suicidal.
Whatever her reasons are - ive been thinking about a 1 year MBA somewhere too - starting 2010 - the ISB deadline for first round of apps is Sep 09 - with decisions announced before Nov 09 - for classes starting Apr 2010 - here
This probably is my first choice school, limited expense, good course, in Hyderabad and of course whoever i spoke to - say that they made absolutely STUDLY connections with great people from different places, streams during the 1 year.
Trouble now is - i dont have any1 else to cover for me when im gone - and i have about - 10/11 months set a system up - to think of it - if MB cooperates - it'll probably be real easy to do ....Dunno if il be admitted in there though.
We'll see, wont we ?
Me, Zeenat & Marlon Brando (MB) are writing cheques left, right and center buying up Reactors, Micronizing systems (Automatic, pneumatic conveying to blender), and Clean room panels for (making Air conditioned, Class 100,000 - 30 changes per hour) finished product rooms.
The expense is getting so massive that when me & MB were calculated payback figures earlier today - he actually put down the paper, smiled with resignation & said 'WTF' (Or the madurai tamil equivalent. 'mayira potchu')
However, heres the most interesting bit of news of the last few days - i have been subtly 'encouraged' by MB, even prodded a little by zeenat to apply for a 1 year MBA - Local/Phoren doesnt matter - but 1 year - strictly.
The sudden change of mind can probably be attributed to the fact that most of Z's relatives from palakkad must have felt that putting me on the market without a master's degree is an insult to Z, her pedigree and her brood of greatly educated, studly relatives with 'Good postgraduation in chemistry' or 'Good Management degree from college in Bombay'.
Ive heard that some of these 'athais' and 'athimbers' who advise Z fulltime over such affairs actually gossip that my father's side of the family are 'uncivilized' [ 'Endi Pattu! Raji aathukaarare paathiya, Nadar aatama tamil pesarar! Enna kovam di amma avarku! Naalellaam orre nelavoli! Raji paavum aakum ] and that because of this fact, her offspring too are tainted and putting one such specimen on the market without a job in IT or an MBA is near suicidal.
Whatever her reasons are - ive been thinking about a 1 year MBA somewhere too - starting 2010 - the ISB deadline for first round of apps is Sep 09 - with decisions announced before Nov 09 - for classes starting Apr 2010 - here
This probably is my first choice school, limited expense, good course, in Hyderabad and of course whoever i spoke to - say that they made absolutely STUDLY connections with great people from different places, streams during the 1 year.
Trouble now is - i dont have any1 else to cover for me when im gone - and i have about - 10/11 months set a system up - to think of it - if MB cooperates - it'll probably be real easy to do ....Dunno if il be admitted in there though.
We'll see, wont we ?
Wednesday, 11 March 2009
Ta da - Contest
Heres a pic - showing an ad for a,certain,um, lubricant - it was sent to me by C while we were chatting with the condition that i should figure it out in 30 secs and ping back - if i dont get it in 30 secs or if i dont get it at all (like it happend with me, for example) then one should, in his words, 'go back to naalanglas'- as we used to say as kids.
Your 30 seconds start......now.
S, to whom i showed the photo earlier today tells me that he wud have figured it
back when he was in 'pathanglas'.
Seriously, the joke wud have been lost on me back when i was in class 11 or 12 or maybe even in the early part of college - where, inspite of one being acquainted with the,um,basics - one did not instinctively register these things.
Point is - its partly because a 'for personal use',um, device - say a computer / video player and the proliferation of free,um, educational material was a phenomenon of just the last 5-6 years.
I seriously doubt if a 40 / 45 year old bloke will even understand the above ad. (I am tempted to get a bit more descriptive here - with regards to the pathetic educational value & overall quality of 'material' available during those days, but i wont.)
It also makes one wonder about how much a today's 14/15 year old - [ probably sons (& daughters, im sure) of the blokes in their 40s ] with unlimited access to the internet & all the,um, educational material there is - will know about.
Clear case of technology having a macro impact on human behaviourial patterns, possibly on how human beings will evolve - this decade might just have a bigger say in terms of evolutionary aspects of the human species than possibly any other decade in the history of the species!
Il check myself here - for Im too tired to launch into a desmond morrisy chapter around this subject :)
*yawn*
(UPDATE: Hari mama peeked at the post & informs me that he cant figure the Ad out either !! this now gets interesting - i am relieved that i am not the only ammanji around :).)
Sunday, 8 March 2009
Thought
I am AMAZED by what an hour of focussed googling can throw up in terms of information related to work. It would have costed significant time and money to collect this information maybe 10 years back and i have enough SOLID funda to produce a dossier 4 inches thick.
This sort of an information explosion is going to have (in fact, im sure is already having) a HUGELY FUNDAMENTAL IMPACT on the way business is done.
In fact, in terms of selling stuff for example - these days i manage to sell as much as we can produce.
The focus is more on how good a plant you have, how soon you can get a plant going, how soon you can add capacity etc. - a slightly sophisticated monkey who can read, write and use MS office can probably manage the rest of it ;)
The old man must be shown how these things ought to be done. Yes, SHOWN!
*excited*
This sort of an information explosion is going to have (in fact, im sure is already having) a HUGELY FUNDAMENTAL IMPACT on the way business is done.
In fact, in terms of selling stuff for example - these days i manage to sell as much as we can produce.
The focus is more on how good a plant you have, how soon you can get a plant going, how soon you can add capacity etc. - a slightly sophisticated monkey who can read, write and use MS office can probably manage the rest of it ;)
The old man must be shown how these things ought to be done. Yes, SHOWN!
*excited*
Friday, 6 March 2009
Of chinamen & discounts
Disclaimer: Boring
Working at the plant and driving to & fro with the old man sitting next to me who - needless to say- is always in a foul mood when theres project work going kind of leaves me with no appetite to even switch on my computer at night - unless of course theres some work.
Today, i had this series of hilarious email exchanges with this chinese guy whos been buying stuff every month from us for 11/12 years - he wanted a 3000 dollar discount on a 15000 dollar invoice shipped 6 months before because he found that 'Abhilash is young and does not take care of quality'. Mr. R (my uncle, who used to handle him before) is an 'honest man' who always gave a discount when asked and that he will stop dealing with our co because we change quality too much and do not compensate for the 'terrible loss' everytime.
Curiously after all the haggling and my informing him that - his outstanding payment be damned and il be glad to file an insurance claim and blacklist him so that hes screwed forever with Indian credit coverage - he actually confirmed a new order for the same stuff he claimed that his 'dishonest, young, 'does not take care quality'' supplier - screwed up six months before.
His last email ending thusly "i will claim you again if you delay shipment more than next week"
The old man was amused. I actually am amazed at how patient he has been with this creep for the last 10 years or so :)
Reminds me to post this joke i got by email recently:
A Chinese man arranges for a hooker to come to his room for the evening. Once in the room they undress, climb into bed, and go at it.
When finished, the Chinese runs over to the window, takes a deep breath, dives under the bed, climbs out the other side, jumps back into the bed with the hooker and commences a repeat performance.
The hooker is impressed with the gusto of the second encounter.
When finished, the Chinese jumps up, runs over to the window, takes a deep breath, dives under the bed, climbs out the other side, jumps back into the bed with the hooker and starts again.
The hooker is amazed as this sequence is repeated four times.
During the fifth encore, she decides to try it herself. So when they were done she jumps up, goes to the window, and takes a deep breath of fresh air, dives under the bed,…and……finds four Chinese men.
:)
I guess the hooker didnt give them the discount they wanted - and they took it from her the chinese way - and im sure she cudnt distinguish one from the other in anycase.
Sinophies will probably take offense - but the more you visit them, work with them - the more it is clear.
A bit like malloos here :) !?
Working at the plant and driving to & fro with the old man sitting next to me who - needless to say- is always in a foul mood when theres project work going kind of leaves me with no appetite to even switch on my computer at night - unless of course theres some work.
Today, i had this series of hilarious email exchanges with this chinese guy whos been buying stuff every month from us for 11/12 years - he wanted a 3000 dollar discount on a 15000 dollar invoice shipped 6 months before because he found that 'Abhilash is young and does not take care of quality'. Mr. R (my uncle, who used to handle him before) is an 'honest man' who always gave a discount when asked and that he will stop dealing with our co because we change quality too much and do not compensate for the 'terrible loss' everytime.
Curiously after all the haggling and my informing him that - his outstanding payment be damned and il be glad to file an insurance claim and blacklist him so that hes screwed forever with Indian credit coverage - he actually confirmed a new order for the same stuff he claimed that his 'dishonest, young, 'does not take care quality'' supplier - screwed up six months before.
His last email ending thusly "i will claim you again if you delay shipment more than next week"
The old man was amused. I actually am amazed at how patient he has been with this creep for the last 10 years or so :)
Reminds me to post this joke i got by email recently:
A Chinese man arranges for a hooker to come to his room for the evening. Once in the room they undress, climb into bed, and go at it.
When finished, the Chinese runs over to the window, takes a deep breath, dives under the bed, climbs out the other side, jumps back into the bed with the hooker and commences a repeat performance.
The hooker is impressed with the gusto of the second encounter.
When finished, the Chinese jumps up, runs over to the window, takes a deep breath, dives under the bed, climbs out the other side, jumps back into the bed with the hooker and starts again.
The hooker is amazed as this sequence is repeated four times.
During the fifth encore, she decides to try it herself. So when they were done she jumps up, goes to the window, and takes a deep breath of fresh air, dives under the bed,…and……finds four Chinese men.
:)
I guess the hooker didnt give them the discount they wanted - and they took it from her the chinese way - and im sure she cudnt distinguish one from the other in anycase.
Sinophies will probably take offense - but the more you visit them, work with them - the more it is clear.
A bit like malloos here :) !?
Tuesday, 3 March 2009
Top quality jokes
Okay. i was kidding.
These arent exactly from the top draw, but they remind me of similar ones we used to tell each other in college when we used to shoot bull together back when we were still kids ;-
Go here (The blog itself,' Bad example' is highly interesting and probably worth a more detailed peek)
Little Ralphy was sitting on a park bench munching on one candy bar after another.
After the 6th one a man on the bench across from him said, 'Son, you know eating all that candy isn't good for you. It will give you acne, rot your teeth, and make you fat.'
Little Ralphy replied, 'My grandfather lived to be 107 years old.'
The man asked, 'Did your grandfather eat 6 candy bars at a time?'
Little Ralphy answered, 'No, he minded his own f*cking business.
These arent exactly from the top draw, but they remind me of similar ones we used to tell each other in college when we used to shoot bull together back when we were still kids ;-
Go here (The blog itself,' Bad example' is highly interesting and probably worth a more detailed peek)
Heres a little sample:
LITTLE RALPHY ON GETTING OLDER
Little Ralphy was sitting on a park bench munching on one candy bar after another.
After the 6th one a man on the bench across from him said, 'Son, you know eating all that candy isn't good for you. It will give you acne, rot your teeth, and make you fat.'
Little Ralphy replied, 'My grandfather lived to be 107 years old.'
The man asked, 'Did your grandfather eat 6 candy bars at a time?'
Little Ralphy answered, 'No, he minded his own f*cking business.
Monday, 2 March 2009
Today's rant
A customer ive been trying hard to crack confirmed work with me amounting to just over 103,000 dollars spread over 2 months. That normally means that i had a nice day today.
But now i just discovered that this customer wanted to confirm the same gig earlier today with W for 110,000 dollars - and W turned them down because they were full already. That leaves one feeling like B grade whore (not sure where i got the idea for such a description, but,um, im sure that one gets the idea)
W is the world's largest manufacturer of the same stuff that we make too, and ,we, of course, are a much more,um, modest-sized producer ('still struggling to position ourselves in the market' -- as the old man says)
W as a corporation is about 5 times the combined size of all our verticals combined together - they've been making this product for 20 years - and we for 4 - and they are run by an established team of highly paid professionals - there are 5 regional managers covering different geographies and they've single handedly mot$#$#ed the whole worldwide market and screwed all major producers one by one. So in all ways, they are a much bigger company with lots of resources at their disposal. Of course our outfit has, like, miles to go to reach the levels W have reached.
But still the fact that the customer actually wanted to go with W - and even paying 7000 more for similar (well, not exactly same - but still technically Yes) stuff - really makes me mad. Really really mad.
I think that one of my main defects as a person is that i really get irrationally obsessed with what i do & thusly produce work of passable quality - only when i am consistently put through such ego smashing circumstances.
So, during a particularly productive phase during the year, like now, for example, i am a depressed, emotional wreck - because of the shouting, yelling, begging, pleading, bitching, cursing and the turmoil that comes with charged situations. Its especially hard on a guy like me - as people who know me well will say - a guy with a super large ego.
I wonder if there is other, less crazy methods to motivate oneself consistently.
But now i just discovered that this customer wanted to confirm the same gig earlier today with W for 110,000 dollars - and W turned them down because they were full already. That leaves one feeling like B grade whore (not sure where i got the idea for such a description, but,um, im sure that one gets the idea)
W is the world's largest manufacturer of the same stuff that we make too, and ,we, of course, are a much more,um, modest-sized producer ('still struggling to position ourselves in the market' -- as the old man says)
W as a corporation is about 5 times the combined size of all our verticals combined together - they've been making this product for 20 years - and we for 4 - and they are run by an established team of highly paid professionals - there are 5 regional managers covering different geographies and they've single handedly mot$#$#ed the whole worldwide market and screwed all major producers one by one. So in all ways, they are a much bigger company with lots of resources at their disposal. Of course our outfit has, like, miles to go to reach the levels W have reached.
But still the fact that the customer actually wanted to go with W - and even paying 7000 more for similar (well, not exactly same - but still technically Yes) stuff - really makes me mad. Really really mad.
I think that one of my main defects as a person is that i really get irrationally obsessed with what i do & thusly produce work of passable quality - only when i am consistently put through such ego smashing circumstances.
So, during a particularly productive phase during the year, like now, for example, i am a depressed, emotional wreck - because of the shouting, yelling, begging, pleading, bitching, cursing and the turmoil that comes with charged situations. Its especially hard on a guy like me - as people who know me well will say - a guy with a super large ego.
I wonder if there is other, less crazy methods to motivate oneself consistently.
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