Came across an article which crisply summarized what can be expected in an emerging economy during a market turmoil such as the present one.
4 things essentially - FAIL
F: Fear and uncertainty
A: Asset prices (falling)
I: Interest rates (rising)
L: Liquidity crisis
The whole world seems to be crashing... but it is during times like these that great corporations and fortunes are made. If you want to take cues from Warren Buffet, he has been buying American stocks from his personal account in which he previously owned nothing but US government bonds. He says "Be fearful when others are greedy and be greedy when others are fearful"
Saturday, October 18, 2008
Friday, October 17, 2008
What's in a place?
I stopped by the ISB campus last evening. Took a leisurely stroll around the campus. Went to the classrooms, library, sarovar, my old room at SV1,the rec centre... Everything I could squeeze in the little time I had.Memories rushed into my head like the first passage of light into a dark room which had never been opened before... Ha ha ha.. Ok it was not that dramatic, but it was great to relive my memories...precious moments of joy,long periods of pain, embarrassments, disappointments, moments of truth...
Its strange how things can change in a matter of six months. The campus is still as pretty as it ever was... But those familiar faces which greet you with 'what's up?' Wherever they saw you...Were missing. (Its a different matter that most people who greeted you thus, did not actually wait for a response). What's a place in itself? Its the people who truly make it what it is...
Got sometime to interact with some of the current batch too. Entrepreneurs, media reporters, traders.. What not. The batch has some great bunch of people. But, the tension in the campus is palpable. Its not easy to be in such a situation when you have kicked a good job, taken a huge liability in the form of a loan, watch your dream companies come crashing down in front of your eyes.. Tough times ahead.
My own little piece of advice to them..
1. While you hope for good placements, prepare for the worst.
2. Nobody is as interested in your career as you yourself are. Its pointless to outsource that responsibility to CAS or the school. Remember... The school never promised you a job.
3. The first level of defence is to establish or reestablish your old contacts. They are people who have at least seen you at work and were hopefully impressed. If they are not going to help you get a good job, nobody else will
4. The second level of defence is to use the network your batch mates have. They themselves may not be willing to go back to their previous employers for whatever reasons. But these companies could be your dream employers and these your batch mates may at least lead you to the right people.
5. The third level of defence is to use the alumni and their network
6. If you note, these levels of defences are arranged in the ascending order of information asymmetry.
7. If you have not already started, do it now and explore these levels of defence and if possible get at least in-principle offers or comforts from these people. It will remove enormous pressure of your shoulders during the placements. Handle it intelligently and diplomatically.
8. No substitute to preparation. Esp in these tough times. You don't want to miss an opportunity when it actually lands. Keep the machine well oiled and be ready to race ahead when needed.
9. Keep your cool. If you have come till here in your life, you will most likely reach where you want to go. There is a bigger force at work, whether you realize it or not, whether you like it or not.
Best wishes for your preparations and placements ahead
Its strange how things can change in a matter of six months. The campus is still as pretty as it ever was... But those familiar faces which greet you with 'what's up?' Wherever they saw you...Were missing. (Its a different matter that most people who greeted you thus, did not actually wait for a response). What's a place in itself? Its the people who truly make it what it is...
Got sometime to interact with some of the current batch too. Entrepreneurs, media reporters, traders.. What not. The batch has some great bunch of people. But, the tension in the campus is palpable. Its not easy to be in such a situation when you have kicked a good job, taken a huge liability in the form of a loan, watch your dream companies come crashing down in front of your eyes.. Tough times ahead.
My own little piece of advice to them..
1. While you hope for good placements, prepare for the worst.
2. Nobody is as interested in your career as you yourself are. Its pointless to outsource that responsibility to CAS or the school. Remember... The school never promised you a job.
3. The first level of defence is to establish or reestablish your old contacts. They are people who have at least seen you at work and were hopefully impressed. If they are not going to help you get a good job, nobody else will
4. The second level of defence is to use the network your batch mates have. They themselves may not be willing to go back to their previous employers for whatever reasons. But these companies could be your dream employers and these your batch mates may at least lead you to the right people.
5. The third level of defence is to use the alumni and their network
6. If you note, these levels of defences are arranged in the ascending order of information asymmetry.
7. If you have not already started, do it now and explore these levels of defence and if possible get at least in-principle offers or comforts from these people. It will remove enormous pressure of your shoulders during the placements. Handle it intelligently and diplomatically.
8. No substitute to preparation. Esp in these tough times. You don't want to miss an opportunity when it actually lands. Keep the machine well oiled and be ready to race ahead when needed.
9. Keep your cool. If you have come till here in your life, you will most likely reach where you want to go. There is a bigger force at work, whether you realize it or not, whether you like it or not.
Best wishes for your preparations and placements ahead
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