Today is the last day of classes for me at ISB. There are no mixed feelings, i am definitely happy. As the ISB journey comes towards the end, i wanted to write a post on what would i have done differently, if i were to repeat the entire experience at ISB.
For the records, i am clearly not looking forward to such an experience of doing it all over again, but may be the future batches might find something useful in this post. The views expressed here are purely my own and hence some (or many) might not subscribe to them. But after all this is my blog..
1. Study like crazy in core terms. Do not be swayed if someone tells you grades dont matter. The point is despite all your efforts you might not be in the Dean's list or may be not even somewhere close to it. That does not matter. At least you tried your best.
2. Term 2 is one of the most important terms. It separates the men from the boys. Make sure you work double hard during this term.
3. Be sure that the consulting bug is going to bite you. The hype in the campus, the build up given in the campus by alums and the repeated visits by consulting firms will for sure affect you at some level. From all the sweet talk that happens, every student believes internally (or is led to believe) that he is a right fit for consulting. But the hard reality strikes only towards the end.
Do explore this option seriously. Talk to alums, attend these sessions, make up your mind if you really like this option as a career, look at the history of recruits done by these firms and make a realistic estimation of your chance. But do these early enough and move on. You will save yourself so much time, effort and tension.
4. With respect to placements, make three choices:
a) Same industry target - A company from the same industry which you would like to go back to.
b)Realistic career switch target and
c) A dream career switch target.
The kind of efforts you need to put in is very different for each of these choices. Develop your strategy to tackle each of them. Ignoring any of these options might harm you severely towards the end.
5. ISB is all about "relativity". Your absolute strengths and weaknesses dont matter. These matter only in the context of what is it compared to your other batch mates. This applies in everything from grades to b-school competitions to your previous work experience to extra curriculars. So, keep working on your "differentiation" strategy. Remember these differentiations have to be both meaningful and credible.
6. Everyone is innocent until proven guilty. Be extremely cautious and intelligent in whatever you do at ISB. I am purposefully leaving this vague enough, but hopefully you would understand the meaning when you are here.
7. B. School competitions - There are a ton of them which happens. Most of them do not even count on as "spikes" in your resume. The filtering criteria for these competitions which i used are: Participate only if
a) Prize money is good
b) There is something interesting in the format/ outcome and
c) If it can work as a spike in your resume.
No point in writing mind numbing essays on "Challenges for Indian leadership in the "Nano" era" along with a million others.
8. ELP (Experiential Learning Programme) - A vast majority of them is pure bullshit. Do not feel compelled or pressurized to take this up. Do it if it is in your area of interest or if it will help you in someway in your placements. In most cases, people are better off taking an additional elective instead of ELP.
9. Develop your BATNAs (Best Alternative To a Negotiated Agreement) with respect to your placements, at least two months in advance. Prepare yourself for the worst possible outcome in placements. Even before the placements commence, try and make sure you find at least two companies which are ready to take you (on a "as is" basis). This will not only help ease the pressure but also increase your bargaining power at the table during placements.
10. Keep juggling with business ideas. You will get ample exposure to various business ideas during your stay at ISB. Keep your eyes and ears open. You never know whats in store for you.
11. Networking - One of the most important words you will hear at ISB. To me networking is not just knowing names and exchanging cards. It is "exchange of value". Do not miss your opportunity to reach out to others and at the least make few trusted friends.
Wednesday, March 26, 2008
Sunday, March 9, 2008
The expert advice
Lao Tzu’s famous quote “Those who have knowledge don’t predict and those who predict don’t have knowledge” seems most appropriate in this situation. I was just browsing through the Sensex targets given by various experts before the crash began in early January. Am pasting some of these below… have a good laugh.
“We are overweight on India as it is the best bull market in Asia. Our India weightage is at 38%, which is the biggest in thematic portfolio. The long-term Sensex target remains at 40,000." – Chris Wood, CLSA, Global Strategist, October 2007
“We continue to be bullish on the Indian market and have set a BSE SENSEX Target of 23,950 to 25,000 for 2008” – Citigroup, Jan 08
“This puts the Sensex target at around 27,000 mark. The breakout could be as big as 2.618 times the largest leg, leading to a mind boggling figure of 39,000. Even if we keep aside this over-optimistic view, the target of 27,000 could be achieved and that too most probably in the first half of 2008. The daily chart shows one directional wave (A) followed by wave (B), which seems to be a diametric pattern. This pattern has seven legs and has a bow-tie shape” - Milind Karandikar, Leading Technical Analyst, in Business Standard, 7 Jan 2008
“Being an India bull there are reasons such as strong corporate earnings growth (though slower around 20%), and liquidity expected from FIIs & domestic institutions that could propel the Sensex to 24000 by the end of the year (Sensex PE at this level would be around 22.85 considering Sensex EPS of 1050)” - Amar Pandit, Moneycontrol - 2nd Jan 08
“After Sensex 20,000, the market expectations are for 30,000, but I don’t see the Sensex extending beyond 24,000 this year with the benchmark making a decade high this year” - Mukul Pal (Leading technical Analyst), in Business Standard, 7 Jan, 08
“So, in order to find the Sensex targets for ’08, we added these multiples to the highest monthly closing of the Sensex in ’07, i.e. 20286.99. So, the possible targets of the Sensex in the year ’08 at 0.382, 0.618, 1 and 1.618 Fibonacci ratios are 23094.27, 24828.61, 27635.89 and hold your breath, 32177.51, respectively” – Economic Times, 7 Jan 08
“76.4% of leading brokerage firms viewed that the markets are fairly valued while 11.8% each believes that it is overvalued and undervalued, respectively” - CNBC-TV 18 poll, 1 Jan 08
“The move past 15,400 proved beyond doubt that the long-term uptrend has resumed from the June-2006 trough of 8,800. But this move appears to be the final (fifth) part of the long-term move that commenced in May 2003. This final leg can take a few more months to complete during which the Sensex will move between 17,500 and 24,800. We place the outer target for the Sensex in 2008 at 27,145” – Business Line Research, 30 Dec, 07
“Indian stock market would continue its bull run next year with the benchmark index Sensex likely to touch the 24,000-mark by the end of 2008” - Macquire Bank, 30 Dec 07
“We are overweight on India as it is the best bull market in Asia. Our India weightage is at 38%, which is the biggest in thematic portfolio. The long-term Sensex target remains at 40,000." – Chris Wood, CLSA, Global Strategist, October 2007
“We continue to be bullish on the Indian market and have set a BSE SENSEX Target of 23,950 to 25,000 for 2008” – Citigroup, Jan 08
“This puts the Sensex target at around 27,000 mark. The breakout could be as big as 2.618 times the largest leg, leading to a mind boggling figure of 39,000. Even if we keep aside this over-optimistic view, the target of 27,000 could be achieved and that too most probably in the first half of 2008. The daily chart shows one directional wave (A) followed by wave (B), which seems to be a diametric pattern. This pattern has seven legs and has a bow-tie shape” - Milind Karandikar, Leading Technical Analyst, in Business Standard, 7 Jan 2008
“Being an India bull there are reasons such as strong corporate earnings growth (though slower around 20%), and liquidity expected from FIIs & domestic institutions that could propel the Sensex to 24000 by the end of the year (Sensex PE at this level would be around 22.85 considering Sensex EPS of 1050)” - Amar Pandit, Moneycontrol - 2nd Jan 08
“After Sensex 20,000, the market expectations are for 30,000, but I don’t see the Sensex extending beyond 24,000 this year with the benchmark making a decade high this year” - Mukul Pal (Leading technical Analyst), in Business Standard, 7 Jan, 08
“So, in order to find the Sensex targets for ’08, we added these multiples to the highest monthly closing of the Sensex in ’07, i.e. 20286.99. So, the possible targets of the Sensex in the year ’08 at 0.382, 0.618, 1 and 1.618 Fibonacci ratios are 23094.27, 24828.61, 27635.89 and hold your breath, 32177.51, respectively” – Economic Times, 7 Jan 08
“76.4% of leading brokerage firms viewed that the markets are fairly valued while 11.8% each believes that it is overvalued and undervalued, respectively” - CNBC-TV 18 poll, 1 Jan 08
“The move past 15,400 proved beyond doubt that the long-term uptrend has resumed from the June-2006 trough of 8,800. But this move appears to be the final (fifth) part of the long-term move that commenced in May 2003. This final leg can take a few more months to complete during which the Sensex will move between 17,500 and 24,800. We place the outer target for the Sensex in 2008 at 27,145” – Business Line Research, 30 Dec, 07
“Indian stock market would continue its bull run next year with the benchmark index Sensex likely to touch the 24,000-mark by the end of 2008” - Macquire Bank, 30 Dec 07
Thursday, March 6, 2008
The last term
Every student dreams about Term 8 in ISB. Its my turn now.
ISB is a totally different place now a days. Some of the activities which are taking place in campus now are..
1. Night Cricket - This is real fun. The intersection cricket matches starts around 7.30 PM under floodlights and goes on well in the night. There is music, liquids and lots of cheering
2. Monopoly Championships - The good old game is back in form, with more and more converts each day
3. The Multiplayer Age of Empires Championship – People are trying to load the game in LAN and organize multiplayer championships. This is still under process. Should be good fun when its up and running
4. Most students have taken a new resolution that they would watch at least 50% of the movies available in our library. So there is a perennial crowding in the DVD section, which had never seen so many visitors in all the seven terms put together
5. Gym and the swimming pool - Many students have started hitting the gym and the swimming pool with vengeance. Some to keep fit, some trying their best to relive their memories of how they once looked and a few others just for the fun of it.. especially given the fact that its our last one month in campus
6. Other games - Many other games including Basketball, Shuttle badminton, Table Tennis, Pool, Carom have regular patrons
7. City exploration - ISB has recently increased the capacity and the frequency of the City Shuttle which takes students from ISB to the city. It could not have come at a better time. All of us are trying to do justice to this beautiful city by giving it the attention it deserves..
8. Assignments/ Pre reads - They have at last taken a back seat at ISB. Assignments are not receiving a minute extra than what they are worth it. Most of us meet the night before to complete these "impediments" which are still on our way.
Interesting times at ISB...
ISB is a totally different place now a days. Some of the activities which are taking place in campus now are..
1. Night Cricket - This is real fun. The intersection cricket matches starts around 7.30 PM under floodlights and goes on well in the night. There is music, liquids and lots of cheering
2. Monopoly Championships - The good old game is back in form, with more and more converts each day
3. The Multiplayer Age of Empires Championship – People are trying to load the game in LAN and organize multiplayer championships. This is still under process. Should be good fun when its up and running
4. Most students have taken a new resolution that they would watch at least 50% of the movies available in our library. So there is a perennial crowding in the DVD section, which had never seen so many visitors in all the seven terms put together
5. Gym and the swimming pool - Many students have started hitting the gym and the swimming pool with vengeance. Some to keep fit, some trying their best to relive their memories of how they once looked and a few others just for the fun of it.. especially given the fact that its our last one month in campus
6. Other games - Many other games including Basketball, Shuttle badminton, Table Tennis, Pool, Carom have regular patrons
7. City exploration - ISB has recently increased the capacity and the frequency of the City Shuttle which takes students from ISB to the city. It could not have come at a better time. All of us are trying to do justice to this beautiful city by giving it the attention it deserves..
8. Assignments/ Pre reads - They have at last taken a back seat at ISB. Assignments are not receiving a minute extra than what they are worth it. Most of us meet the night before to complete these "impediments" which are still on our way.
Interesting times at ISB...
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