shishirbhate's blog

Have you ever tried pushing a 3-tonne battle-tank up a hill? Alone? While the driver is standing on its brake pedal?

Or maybe you have tried coming down a sheer rocky mountain, splattered in patches with slimy clay – the kind they make quicksand from – wearing roller skates?

No?

Well, then you’ve never really gone trekking. For, that’s what it felt like to me: all the way up and all the way down.

Nietzsche once said, ‘All truly great thoughts are conceived while walking’. And it was while I was huffing, puffing and gasping my way up and down Ajoba (Ajaparvat), the only motivating thoughts that kept me going were the kaleidoscopic variety of plans I made to find the most torturous – and gleeful – way of throttling my Unnecessary Hiker friend, Reuben, and his partner in crime who talked me into the trek, Preeti.

I vowed the next time anyone of them asks me out on a trek, I would tell them – with as much insolence as I could summon – to go take a hike, preferably a one-way hike.

But the warmth and the hospitality, the spirit and the camaraderie, the naughtiness and the levity, the concern and the carefulness, the sensitivity and the kindness this eclectic bunch of hikers showered on strangers like me and some other first-timers during the entire trek, made me chuck away all those murderous thoughts.

Their warmth was stuff that forms the foundation of fine friendships and spawns a lifetime of memories. Thank you, guys.

Anyway, before I get mushy, let me speak of what I really felt before I melt into a puddle of emotions.

What was meant to be a simple trek turned into a sort of a spiritual journey – with an extremely heavy dose of physical exertion thrown in, where not only did you learn about the new facets of others whom you thought you knew pretty well, but also about yourself. It was an incredible experience disguised as a trek.

There was, however, nothing disguised or subtle about the pain I nurture as a result of subjecting my body to sudden physical violence. I now have excruciating aches in places I didn’t even know I had places.

On my singular, slender frame, which is kept together by some bones and a few raw nerves, there is nary a sign of fat or muscle – but I swear by the Holy book that I positively suffered multiple muscle pulls during the ordeal.

The trek — mind you, this was the ‘easier’ variety, the ‘beginner’s trek’, as defined by Reuben and his Unnecessary Hikers gang – had more than I bargained for. Beginner’s trek, my foot! (both of which, by the way, are aching like they were on the wrong end of a battering ram)!

It began with yours truly, with teenage daughter in tow,  zipping across the still slumbering Mumbai in the wee hours towards the rendezvous point. We reached almost half hour before the ‘picnic’ was to begin, only to find that most others were still cosy in their warm beds or ‘on their way’ (which was a euphemism for saying, ‘we are going to be hours late’).

Anyway, as luck would have it, father and daughter encroached upon the parking slot and the hospitality so generously offered by Salil and Sumita Menon at that unearthly hour– boring them with my banter and asking them for tea. Polite people, the Menons, they were kind enough not to let me know what they really thought of me. Instead, I treated myself to a hot cup of tea.

Finally, when the entire flock was rounded up, it was time to begin the trek. Starting off with breakfast on a fast-moving bus to listening to some of the funniest and most creative mash-up of ad jingles and songs, the journey to the base of the mountain was a breeze. Hey, I am calling it a mountain because it felt like the freaking Everest to me (although to some others it might not have been more than a slight bump in the road)!

The first thing that hit me as soon as I got off the bus was the funny smell in the air. I wrinkled my nose and snorted a lot, but it just wouldn’t go away. It took me a while to realise that this was air as it is meant to be in its purest form, minus the pollutants that I am so used to inhaling in noxious Mumbai.

When we got off the bus, we were all cheerful and raring to go (despite the funny smell of fresh air), when Reuben punctured my fully inflated balloon of fancy. “It’s a one-and-a-half-hour uphill walk till we reach the base of the mountain. Then there’s a two-and-a-half-hour climb up the mountain to the spot from where you can see heaven.”

Hell, I thought, panicking like a woman who knows Jack the Ripper is under her bed. Good heavens, I screamed internally, ‘what have I let myself into?’ I glared at Reuben and Preeti and everyone else – from behind my dark glasses — which I later chucked as the green, green grass under my feet started to appear black after only 15 minutes into the walk (it wasn’t the glasses though, it was just pure exertion) –  and quickly began to think up some excuses to get out of the predicament I found myself in.

But you can’t let your only child think you are chicken, so you go along with the flow – like the bali ka bakraa we actually saw later in the evening. So with the heart beating like a racing car, off we went on that loooooooooooooooooooong walk.

About a quarter of the way, the one thought that kept haunting me was: the farther I go, the more I will have to walk to come back. Getting to the summit is optional, getting down is mandatory. Since there was no way out, I decided to test the endurance power of my only body. Frankly, I should have got my only head tested for having been talked into this walk.

But it was too late: by then most of my body parts were functioning independently of the brain. It was as if there was a mutiny in the ranks and the legs did what they wanted to and the arms operated on their own volition.

With only the first part of the trek over, I felt as limp as a wet sock. But we Bhates are made of stronger stuff than I had believed, so I decided to go along on the climb up the mountain through the dense jungle.

By the time I reached the summit (let me call it that, somehow makes my achievement seem that much worthier), I was wheezing like a pressure cooker with a faulty valve and I think I had sweated enough to start off a minor waterfall.

Once I stopped seeing double and the eyes swam back into their sockets, standing on my wobbly legs I focused at the heavenly sight before me. It was everything Reuben and gang had promised; in fact, more than what they had promised.

The scene was ethereal.. it was as if we had stepped into the misty land of cottony clouds.. soft as smoke and smooth as silk… And it was extremely windy… Then came the rain as if to greet sore limbs and tired minds. It was cool as could be… felt like you had carved a giant watermelon and had curled up inside it….

There were many firsts for me here too: first time I was going on such a trek in 20 years, first time I sweated as much as I did, first time I sincerely harboured thoughts of throttling perfectly fine human beings, first time I saw a goat being sacrificed… It was also the first time I had the experience of cutting off a rather sizeable portion of a lady’s jeans — while she was still in them…!

Anyway, soon after partaking of various kinds of delicacies, it was time to begin the trek downhill. I did it in half the time it took me to get up the mountain, but I had no hand in it. I had no idea that while I was up there on Ajoba, the track had transformed itself into a bar of wet soap. So I slithered and slipped and roller-skated my way down the hill.

That I reached the foothills of Ajoba without a broken limb was entirely providential: it had nothing to do with my skill. Unfortunately, I have no bruises to show off as mementos. All I have is a mass of aching organs…………

Be that as it may, not only did yours truly make it all the way, the daughter also managed to do it. Despite her earlier misgivings, she hardly seemed any worse for wear. That’s more than you could say for her old man.

Thus ended the beginner’s trek — I am omitting parts where you had to climb out of drenched clothes into dry attire within the confines of the bus – while other wet souls waited outside for their turn to clad themselves similarly…. Modesty forbids.

Anyway, so like that author said: ‘Whether chasing angels or fleeing demons, go to the mountains.’

Thank you, dear Reuben, Salil, Nandu, Raman, Kishore, Gaurang, Darshan, Sumita, Lalitha, Anjali, Preeti – and everyone else whom I might have missed naming here — for helping me visit the angels’ abode and drive my demons away.

There will be more angels to chase and more demons to slay: will do that with you guys on other treks…

Till then, dear Unnecessary Hikers, stay true to your motto: Keep Moving!

By the end of this month, if will be clear if the US Senate Immigration Reform Bill introduced to decide whether H-1B visa limit should be increased from 65,000 to 115,000 has been defeated or allowed to sail through successfully.

Everyone says an increase in the H-1B visa limit will help Indians the most. Will it, really? But more on that in just a moment.

The current limit of 65,000 excludes 20,000 H-1B visas issued to advanced-degree holders.

If the limit is not increased, those lobbying for it will keep up their campaign. Many Americans, including President George W Bush and Microsoft chief Bill Gates, believe that for the United States to maintain its technological superiority it is necessary to allow more and more brilliant and highly educated foreigners to go to the US and possibly even settle down there.

From April 1, applications for H-1B visas for the 2007 federal fiscal year, which begins on October 1, can be submitted to the US Bureau of Citizenship and Immigration Services.

Many in the US are supporting the idea that America must make it easier — and quicker — for foreign workers to gain permanent residency in the US.

Other provisions in the Bill include a new F-4 visa category for students pursuing advanced degrees in science, technology, engineering or mathematics. These students would be granted permanent residence if they find a job in their field and pay a $1,000 fee toward scholarships and training of US workers.

Let me now come back to the question on whether an increase in the number of H-1B visas helps Indians. The obvious answer to this would be a resounding ‘Yes!’ But look at it thoda differently: Will this also not mean India losing so many more brilliant minds to the US, with chances of many of these returning to their motherland almost nonexistent?

We have heard a lot of talk on how ‘brain drain’ has robbed India of some of the finest brains in the world — and thus, possibly, of innovations, progress, faster growth.

Nowadays, we take pride in affirming that a ‘resurgent India’ is experiencing ‘reverse brain drain’ as a lot of Non-Resident Indians are now coming back with the nation offering great growth opportunities.

Well, how could then an increase in a limit that allows more of India’s finest minds to go and settle abroad help the country?

Sounds parochial and inward-looking? Well, just think about it. But then, this is only my view and it’s not important: I have been known to be wrong earlier.

What is important is YOUR view. Do you think it is good for India?

Hilarity has a mind of its own: it rears its head on the most serious of occasions.

For instance, take PETA — or People for the Ethical Treatment of Animals. The organisation has been doing some serious work to protect animal rights. But it is not always easy to sell your idea, even though it might be steeped in kindness.

So PETA regularly organises protests by nude members, or by celebrities, to spread its message of ‘caring for animals’ and of embracing vegetarianism: this is probably its version of the ’shock and awe’ attack.

Sometimes this leads to amusing situations: like the one recently narrated to us by a dear colleague.

A journalist by profession — were he not one, he’d most likely be acting in movies himself — he was interviewing a fairly well known actress of the Indian film industry at a movie set.

Apart from the usual stuff on her upcoming films and the stellar characters that she was playing in a myriad of films soon to be released, the actress — let us keep her name a secret — also spoke at length about her association with PETA and the fact that she was doing some endorsements for the animal cause.

It was an impassioned spiel that almost made my colleague — an avowed lover of non-vegetarian food — squirm in his seat. He also got a rather prolonged lecture on the benefits of being a vegetarian, etc, etc. More squirms for our friend, who likes chicken and birds of all feathers.

Thankfully, the leading lady soon got hungry having spoken as much as she did and called for some sandwiches. She was served some promptly.

Our colleague could barely nibble at his sandwich as he gaped at the lady dig into hers with relish. The irony was not lost on him, for they were chicken sandwiches!

Incidentally, PETA has more than a million members and supporters and 100 employees and is the largest animal rights organisation in the world. It was founded in 1980 as a non-profit organisation and has its headquarters in Norfolk, Virginia. It has offices in the United Kingdom, India, Germany, and the Netherlands. Ingrid Newkirk is PETA’s international president.

The organisation is dedicated to establishing and protecting the rights of all animals. PETA operates under the simple principle that ‘animals are not ours to eat, wear, experiment on, or use for entertainment.’

It works through public education, cruelty investigations, research, animal rescue, legislation, special events, celebrity involvement, and protest campaigns.

A study by Watson Wyatt, a global human capital consulting firm, would have us believe that leadership, job satisfaction, team work, work environment, etc matter more for the Indian work force. More, that is, than the salary they draw.

If this is indeed true, it does point towards a new — and welcome — trend where the quality of the job matters more than the compensation it offers. However, I suspect the results of the study are almost Utopian.

In a country where poverty still rules the roost and joblessness is widespread, the size of the pay packet, to my mind, would still be the most important factor for a salaried Indian. The study, thus, might have been conducted amongst a select set of people and thus the skewed results.

But that is just my opinion, for whatever it is worth. More importantly, what do you guys think?

Meanwhile, the study also says that the Indian workforce is currently 500-million strong, and over the next 30 years, India’s workforce will see a growth of over 335 million people, which is greater that the combined workforce of the United Kingdom, the United States, Japan, Germany and France.

The study also finds that:

• 44% of the companies in India have significant difficulty attracting top performers;
• 40% of the companies make mid-year salary corrections;
• Average employee turnover is 16%;
• Business process outsourcing (BPO) units have up to 25% salary growth with 40% to 50% turnover;
• India has the highest salary increases in the region.

The other major findings of the study are:

• Changing expectations: Employees want more control of their careers and rewards based on performance. They are also concerned about opportunities for growth.
• Increasing demand for skilled employees with higher education, driven by technological innovation and transition to a service economy.
• Rising female workforce participation is a major driver towards more flexible labour markets.
• Flexibility in labour engagement to hedge uncertainties, which includes more frequent use of self-employment, part-time work, limited duration contracts and temporary staffing.
• With greater labour as well as job mobility employers no longer viewed as providers of lifetime employment and benefits.

I have often wondered what is it that makes certain communities better at certain things than others.

What, for example, makes Bengalis and Maharashtrians — as a community — better at arts or music? Or why is it that Sikhs wield the sword better than others? What is it that makes ‘South Indians’ better at technology and math? Or what makes Gujaratis and Marwaris better traders?

Maybe, ‘better’ is not the word I seek. What I am getting at is there are specific traits common to particular communities. Let's take the Gujaratis, for instance. As a community, Gujaratis are most likely to be traders or businessmen. There are, of course, exceptions to the rule: like me.

Yet, by and large, one finds that communities like the Marwaris and the Gujjus tend to wield the account books and the don trader’s cap more than, say, write a software programme.

Is it because they are just money-minded? Or possessed of a sharper business acumen? Is it in the genes? Is there something historic about it? Or is this by pure chance?

Indeed, there are other communities as hard-working as the Gujaratis, but not all tend to display the same entrepreneurial spirit.

So, dear friend, could you enlighten me as to what makes some communities better at business than others?

Tailpiece: Here’re the lies that the wit spread about the Gujjus

• One Gujju is a share-broker in a Mumbai local train
• Two Gujjus is a rummy game in a Mumbai local train
• Three Gujjus is Mumbai’s noisiest restaurant
• Four Gujjus is a stock market scam

So you thought that the car you had been planning to buy since long suddenly fits your budget now? Well, think again.

True, the finance minister did provide carmakers major relief in the Budget 2006, and Maruti, Hyundai, Honda, Tata Motors promptly passed on the benefit to the consumers announcing attractive price cuts.

But no sooner did the car prices drop, than ICICI Bank increased auto loan rates by a full one per cent. Other banks are likely to follow suit soon.

So if you are getting a bank to finance your car, you might find that the increase in auto loan rates might nullify the drop in car prices.

However, don't let that dampen your spirits. Go ahead and get that four-wheeler now. Who knows prices — and auto finance rates — might go up again.

For those who want to know what certain cars will cost now, here's a snapshot:

Maruti slashed the price of its Maruti 800 Standard model by Rs 12,704, while M-800's AC model will now cost Rs 14,192 less.

So you will pay Rs 1.91 lakh for the standard and Rs 2.12 lakh for the AC version (ex-showroom Delhi).

The Maruti Alto Standard/LX/LXi models will be cheaper by Rs 15,346, Rs 17,646 and Rs 18,939, respectively, thus costing Rs 2.31 lakh, Rs 2.64 lakh and Rs 2.83 lakh (ex-showroom Delhi), respectively.

The Maruti Suzuki Wagon R LX/LXi/VXi will now cost Rs 21,460, Rs 23,232 and Rs 24,070 less, respectively.

Which means you will pay Rs 3.23 lakh for the LX, Rs 3.48 lakh for the LXi and Rs 3.72 lakh for the VXi (ex-showroom Delhi) model.

The Maruti Zen LX/LXi/Vxi (which might soon be phased out) are cheaper by Rs 21,800, Rs 23,542 and Rs 25,052.

Now you need to pay Rs 3.27 lakh for the LX, Rs 3.53 lakh for the LXi, Rs 3.76 lakh for the VXi (ex-showroom Delhi).

Maruti Suzuki Baleno LXi/VXi models to cost less by Rs 8,000. You will now need to shell out Rs 5.75 lakh for the base model and Rs 6.57 lakh (ex-showroom Delhi) for the VXi version.

The Hyundai Santro Xing XK/XL/XG/XO/Auto models will now cost less by Rs 16,000 to 26,000.

You will now have to pay Rs 2.62 lakh for the non-AC XK, Rs 3.41 lakh for the XL, Rs 3.65 lakh for the XO and Rs 4.1 lakh for the automatic (ex-showroom Delhi).

The Tata Indica Petrol/Diesel versions will be cheaper by Rs 17,000 to Rs 23,500.

So you pay Rs 3.44 lakh (approx) for the DL diesel to Rs 4.48 lakh (approx) for the DLX turbo. Rs 3.44 lakh for the LEi petrol to Rs 4.21 lakh for the LXi petrol.

The Honda City ZX EXi/ZXi VTEC models will be cheaper by Rs 2,000 and Rs 10,000. The Exi model will now cost Rs 7.26 lakh, while the VTEC has been priced at Rs 8.56 lakh (ex-showroom Delhi).

Honda Accord VTi L (MT/AT)/V6 now costs Rs 15,000 less. So now you pay Rs 15.5 to Rs 15.9 lakh for the VTi L models (approx) and Rs 18.3 lakh for the V6 model.

It was just a harmless discussion on the stock market. But it soon turned into a full-blown argument on whether investing in the stock market is the same as gambling.

One side insisted stock markets are not casinos. The other was adamant that whoever puts his money into the stock market is a gambler.

There are many who feel that investing in stocks is a major gamble, and this keeps them from venturing into the stock market.

So is there a difference between investing in stocks and gambling? You bet, there is!

Investing means putting your money where it will work for you in a manner that your wealth increases over a period of time. So you can actually make money by not just getting a job or setting up a business and working hard, but also by investing.

Gambling, on the other hand, is putting your money at high risk by betting on an outcome, which is most often uncertain, in the hope that you might win a lot of money, quickly.

However, the confusion over whether investing is like gambling also arises from the manner in which many people 'invest' their money in the stock market. If you run after a 'hot tip' and blindly put your money into a stock, chances are you will come out the loser. Here your idea of 'investing' in a particular stock almost amounts to gambling.

Investing, as opposed to gambling, requires some effort on your part. You need to understand the company whose stock you are buying, you need to follow the kind of business the company is in, you need to take into account the company's current performance and its future prospects, you need to read up a bit and analyse the situation in the stock market before you invest. You also need to ascertain how good, reliable and trustworthy the company management is. Don't just throw your money at random.

Despite these cautious steps, it is not guaranteed that you will be a winner in the stock market. However, it is certain that your chances of multiplying your money ' albeit over a period of time ' would be much better than in the case of gambling.

When we invest money in a company, we increase the wealth of an economy. As various companies compete in the marketplace, they manufacture products, offer services, generate employment and generally make life better for all. Gambling, on the other hand, does not help create wealth or value. It is done mostly for extracting the entertainment value of taking a risk and hoping to make a big killing.

The other difference between investing and gambling also is that in the former there is a reasonable expectation of profit.

There are risks in, both, investing and gambling. But taking reasonable, calculated risks is a part of life: one does it in business perpetually, but this is done with a lot of study, analyses and collective thought.

Stock market speculation, which is the process of buying stocks now with a view to selling them at higher prices in the future, is valuable and totally ethical. Companies that are more productive in terms of services that they offer or goods that they manufacture stand out (which is also normally obvious from the profits that they make) and such firms are recognized by stockmarket speculators. This recognition also leads to the rising of the company's stock prices and thus its market value. As the company's reputation and market value grow, it becomes easier for it to raise or borrow money to further its business needs and expansion plans.

Experts say that the longer you stay in the stock market, the better chance you have of making more money, whereas the longer you stay at the gaming table, the more chances you have of losing your wealth. If you have as strong and diversified portfolio of stocks, you can almost rest assured that you will make good money eventually.

However, before you enter the stock market, remember these dos and don'ts:

DOs

• Transact only through stock exchanges.
• Deal only through Sebi registered intermediaries.
• Complete all the required formalities of opening an account properly (client registration, client agreement forms, et cetera).
• Ask for and sign ‘Know Your Client Agreement.’
• Read and properly understand the risks associated with investing in securities/derivatives before undertaking transactions.
• Assess the risk-return profile of the investment as well as the liquidity and safety aspects before making your investment decision.
• Ask all relevant questions and clear your doubts with your broker before transacting.
• Invest, based on sound reasoning after taking into account all publicly available information and on fundamentals.
• Give clear and unambiguous instructions to your broker/sub-broker/depository participant.
• Be vigilant in your transactions. Insist on a contract note for your transaction.
• Verify all details in contract note, immediately on receipt.
• Crosscheck details of your trade with details as available on the exchange Web site (www.bseindia.com / www.nseindia.com ).
• Scrutinise minutely both the transaction and the holding statements that you receive from your Depository Participant.
• Keep copies of all your investment documentation.
• Handle Delivery Instruction Slips (DIS) Book issued by DPs carefully.
• Insist that the DIS number are pre-printed and your account number (Client ID) is pre-stamped.
• In case you are not transacting frequently make use of the freezing facilities provided for your Demat Account.
• Pay the margins required to be paid in the time prescribed.
• Deliver the shares in case of sale or pay the money in case of purchase within the time prescribed.
• Participate and vote in general meetings either personally or through proxy.
• Be aware of your rights and responsibilities.
• In case of complaints approach the right authorities for redressal in a timely manner.

DON’Ts

• Don’t deal with unregistered intermediaries.
• Don’t fall prey to promises of unrealistic returns.
• Don’t invest on the basis of hearsay and rumours; verify before investment.
• Don’t forget to take note of risks involved in the investment.
• Don’t be misled by rumours circulating in the market.
• Don’t be influenced into buying into fundamentally unsound companies (penny stocks) based on sudden spurts in trading volumes or prices or non-authentic favourable looking articles/stories.
• Don’t follow the herd or play on momentum - it could turn against you.
• Don’t be misled by so called ‘hot tips.’
• Don’t try to time the market.
• Don’t hesitate to approach the proper authorities for redressal of your doubts/grievances.
• Don’t leave signed blank Delivery Instruction Slips of your demat account lying around carelessly or with anyone.
• Do not sign blank Delivery Instruction Slips and keep them with Depository Participant or broker to save time. Remember your carelessness can be very damaging.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Discussion Group.