Holiday with Thomas Cook (India)-Tighten your Seatbelt!

Before I narrate my harrowing experience, here is the takeaway (if you don’t have time to read through).

     1.       Don’t book a holiday online with Thomas Cook (TC). It is better to walk to their  local office and put a face to the name that you are dealing with.

     2.       Don’t get fooled by the “personalized” tag of the holiday by TC. They will give only what they have and nothing more.

Now hear the story:

We are a family of 4 that was planning for a north eastern holiday. For some reason, TC name came to my mind and I browsed their website and sent in my inquiry through their online form. So far so good. Here is a summary of how this evolved till we boarded our flight to Guwahati.

Date	Time left to start holiday (days)	Notes
28th July	7	Online form filled. Receive a call back from TC. Broach various options within North East and finally suggesting Sikkim and Darjeeling. (4N,5D)
29th July	6	Receive a call from TC. We suggested a change from Sikkim to Meghalaya. Rough itinerary received by email. TC pushing us to do flight booking and advance payment for the holiday as we don’t have much time left. Accordingly flight booked and advance payment made.
30th July	5	My son suggesting them to exclude some destinations and include Balphakram National Park instead.
31st July	4	No communication from TC
1st August	3	TC says Balphakram not possible due to monsoon. We suggested an alternative (Pobitora national park). No response from TC
2nd August	2	With only 3 days left to board the flight, we panicked and escalated our compliant to level 1
3rd August	1	With only 2 days left, we escalated our compliant to level 2. TC sheepishly communicates by email asking us to take what they have. Final itinerary still to be done.
4th August	0	With only a day left we decided to visit the local office who connects us to someone called Mubeen who was indeed understanding and helpful. He provided us with a contact called Shabnam who promised to look into it. TC itinerary finally comes in the evening. Payment done online and final vouchers received.
5th August-9th August	Flight boarded from Chennai at 5.30 am	Holiday in Meghalaya.

So, what is really wrong here:

     1.       We obtained our final itinerary the evening before we were to board our flight next day early morning. That leaves hardly any room to reflect on pricing, hotel options, etc. Just pay so that you can go on a holiday.

     2.       The contact process with TC is one way. In other words, they will call you but you cannot call them. Our calls go to a call center person who checks and then gives a standard reply “our operations team will call you in 15 minutes”. In desperation, we would have made several calls while we received no call back.

     3.       Through this seven days of dealing with TC before the tour commenced, I had to interact/contact 6 people. (Jairaj Singh (our initial contact), Manish Thakur (presumably his boss), Prakash Thakur (service quality manager), Fatima Sheik (not sure who she is), Mubeen (Chennai person who was helpful) and Shabnam (some person in Mumbai who seem to know our case.). In other words, we had to run from one pillar to another post just to finalize the holiday. No initiative shown by TC to close the holiday plan.

     4.       The tour was never “personalized”. The two requests that we made for accommodating our places of interest were rejected due to monsoon. Essentially, they gave us what they had, not what we wanted.

     5.       Even after pushing the escalation to level 2, we received no phone calls, only an email saying that they tried to reach us and we were not contactable (!!!). In desperation, I provided 3 alternate numbers (by email) but no calls came through.

     6.       TC promised a driver cum guide that will take us around. What we got was more of a driver and less of a guide (with all due respects to him).

     7.       While the “personalized” tour promised stay in 4-star hotels (and accordingly priced), the stay in Chirapunjee was a lodge with not even a landline contact. As tourist we could see many more better resorts which could have qualified for our stay. In other words, you pay for a 4-star hotel stay and you get a lodge instead.

     8.       Finally, we received no calls from TC during the holiday to check if everything is ok.

We have done several holidays with various holiday planners. This by far will count as the most harrowing pre-tour experience. What saved the day was the enchanting beauty of Meghalaya!

Bollywood Investment Conference

And you thought Bollywood is just for fun and entertainment. Legendary Bollywood actors and actresses have words of wisdom that can help professional fund managers and investors alike. After all, investment is art as much as it is science. Hence, there is no shame in taking some cues from film artists!

The conference will focus on five important investment themes viz., Investment Strategy & Financial Planning, Stock Selection, Role of Advisors, Risk Management and Ethics. Present day celebrities, yesteryear stars, and even dead Bollywood legends will spring to life and deliver masterpieces from their movies to investors and fund managers.

Before the formal sessions begin, there will be a conference flag off. You guessed it right, an item number by Shah Rukh Khan and Bipasha Basu! No Bollywood event ever happens without a Shah Rukh Khan dance.

There will be no Q&A after the sessions since Bollywood actors can only play pre scripted roles, and cannot react to sudden questions.

Investment Strategy and Financial Planning

The opening session will be star-studded with 6 leading actors (living and dead!) sharing their views and ideas on investment strategy and financial planning.

Amjad Khan will kick start the session with his famous dialogue from Sholay “Only one man can save you from Gabbar’s anger; only one man…Gabbar himself”. He is politely asking you as an investor to take responsibility about your savings and be accountable. At the heart of any good strategy is its simplicity which Hrithik Roshan expounds through his Kaho Na Pyaar Hai dialogue “beauty lies within simplicity”. The podium will then be shared by the legendary Raj Kapoor and Dilip Kumar, who will explain to the audience the importance of portfolio diversification. Raj Kapoor’s Shree 420 lines “My shoes are Japanese, these pants are British, I have a Russian red hat on my head…but still my heart is India” will explain diversification even to a layman, while Dilip Kumar’s hard-hitting dialogue from Karma “To protect his cubs, a tiger does not need wild dogs” advises us to keep it simple, and protect one’s portfolio with a little bit of smart diversification.

Anil Kapoor and Hrithik Roshan will then dwell on the timing aspect of the investment strategy. In Jodha Akbar, HR says “There is a big difference between winning and ruling”. Winning is a short term gain, while ruling is a long term perseverance. Investment world will provide you with countless short term winning opportunities but the trick is to convert them to long term growth and stability. In other words, don’t be short term focussed. And Anil Kapoor is there to warn you about bad timing, just like he did in Masafir, where he said “Whether the policemen are real or fake…bloody, they always comes late”. Farhan Akthar and Madhuri Dixsit will end the session with some sage advice. FA will motivate you to have conviction, like when he said in Luck by Chance “keep walking on your road, keep on walking… and slowly the whole world will come on your road”. So what if you make mistakes, are we not here to learn from it? These parting words will come from Madhuri Diksit, “Every sorrow is the beginning of a probable happiness…and every loss is an indicator of an upcoming profit” (Devdas). Life is a cycle; cut your losses, learn your lessons, and work towards your inevitable profit!

Stock Selection

The next session is lead by the don of all dons, Amitabh Bachan, who along with 5 others will give you some tips on stock selection. They will dwell on complicated concepts like valuation, volatility, behavioural finance, and even luck!

In deference to his stature, the senior Bachan will take the floor to extoll the virtue of saying no. “To make progress in this world…it is very important to say no” (Agneepath). This is especially true during bubbles when stock valuations reach dizzy levels. It is during times like this you should be able to say no. In stock selection there are some dos and don’ts. Govinda (Deewana Mastana) will encourage you to have patience, “This world is a bus stop and a girl is a bus. If you run behind it then you will miss it, but if you stay in the same place then another one will come from the front”. Jackie Shroff (Farz) will reinforce the importance of patience “The fun of hunting comes only when…the prey does not get captured quickly”. The don’ts will be driven home by Dharmendra (Yamla Pagla Deewana 2), where he will explain the behavioural finance concept of not getting emotional in your stock selection, “How many times have I told you…have fun, but don’t fall in love”. The junior Bachan (Abhishek) will take the discussion to a more technical level where he will emphasize on the contrarian theory (When people are talking against you…then you are making progress-Guru) and volatility (Every hurdle…is a chance to get to the destination-Sarkar Raj).

 In case you thought stock selection is all about skill, Jackie Shroff is here to explain the role of luck as well “Sometimes luck comes before death”.(Farz)

The Role of Advisors

Bollywood actors are very much used to the concept of advisors, and hence can succinctly explain their importance while making investment decisions. This short session will be anchored by three people, led by Hrithik Roshan “I will never leave your hand…not today, not now, and not ever” (Aap Mujhe Achhe Lagne Lage). This is exactly what every financial advisor should swear to his clients! Dilip Kumar (Saudagar) will emphasize the point further “A right is not asked with head bowed down…but with the head held up”. As a client you have every right to question  your advisor, until you are satisfied with the answer. And don’t be a Dharmendra from Sholay who said “we work only for money”. A financial advisor should never give such a feeling to his/her clients.

Risk Management

“To live life there are only two ways…one whatever is happening let it happen, keep tolerating it..or else take responsibility to change it” (Rang De Basanti). Aamir Khan will take the floor on risk management with this opening. While risk management is hard work, it eventually pays off. Jackie Shroff in Border did tell viewers “The more you sweat in peace…the less you bleed in war”. Prepare and position your portfolio from a risk perspective, so you bleed less during a financial crisis. And what is the consequence of ignoring risk management. “In trying to achieve a lot a human sometimes loses everything”. Govinda in Andolan is not talking about ponzy schemes!

Ethics

From a grand start of 6 in the opening session, the last session will have only two doyens speaking about ethics, as most of the attendees eagerly await the close. “Rather than living under the roof of humiliation…it is better that a person lives without any roof, but with respect intact” (Khudgarz). Jeetendra is simply driving the point that ethics in investment world will ensure no humiliation at all times. Dev Anand (Johny Mera Naam) will give us the thumping end by screaming “I can sell the moon for you…but not my honesty”.

Closing Session

The conference will end with the screening of a yet to be and never to be released movie “Black money, Bollywood and Switzerland!”

YOU ARE DOOMED, IF YOU HAVEN’T USED THESE TERMS!

This article was published in Market Express

Context: The other day we had a meeting with an economist from a leading investment bank. The meeting room was full with senior management people. He explained why global economy is going through a paradigm shift though with a goldilocks situation. He argued that US pension problem is acute due to baby boomers and can be punctuated by the “new normal” economy that will lead us to a low-return world. His back of envelop calculation shows that it will be difficult to generate inflation in US and therefore he is cautiously optimistic about the whole thing. He said that Obama and Janet Yellen should come up with some out of box thinking to wriggle out of the situation. He said that the good news is that there are solutions to problems while the bad news is that the leadership is not aware of it!

Jargons matter, whether you understand them or not! You got to be using some terms if you have to signal that you have finally arrived within the top management circles in your organization. The usage of these words/terms can be either in your presentation, oral arguments, or in your written notes. But they have to be there for people to take you seriously.

Let us run through them quickly!

      1.       Paradigm Shift: Honestly, I know what a shift is. But why this use of paradigm all the time. In simple terms, it means things have changed for good. Hence don’t keep harping the old logic. In complicated terms paradigm means “A distinct set of concepts or thought pattern, including theories, research methods, postulates, and standards for what constitutes legitimate contributions to a field”. Now, you know what I mean.

      2.       Goldilocks: I initially thought that it refers to something related to gold. But the lock thing confused me a bit. The Goldilocks principle states that something must fall within certain margins, as opposed to reaching extremes. From an economic perspective, it is defined as moderate growth with low inflation (not too hot or too cold). I still don’t get it.

       3.       Baby boomers: Whenever I see this term, I used to think that they refer to “baby” related issues. On the contrary, it refers to all the old people born during the post-world war 2, precisely between years 1946 and 1964. (No, I am not a baby boomer).

      4.       Devil’s advocate: You should use this term, if you want to oppose someone but do not want to offend him. You deliberately take an opposing view in order to give a critical balance to a debate or to explore the thought further.  Unfortunately, compliance officers and risk managers always advocate for the devil.

      5.       Outside the box: It means don’t give the same old crap. Think differently, say differently though you may act the same. People love crazy stuff and outside the box thinking is exactly what it is. If you have to say something completely different, but afraid of a backlash, simply take refuge behind this term and you will be alright.

      6.       Multitasking: It means, you cannot get away by just doing one thing at a time. The boss will ask you several things and expects you to do all of them all at the same time. Sometimes, it may help to have more than 2 hands since you may have to type five letters at the same time. While recruiting someone, this can be a clincher.

      7.       New Normal: This refers to anything that is not old normal but beyond that, we do not know what it means. It can mean that old things will never come back. Or it can mean that new things will stay forever from this point forward. Bad situation to someone who trusts and relies on past to make a living. (Did I mean equity research?)

      8.       Back of envelop: It normally refers to estimates that are not backed by any logic or reasoning. Even though you have access to a large note book or ipad, you should still grab an envelope to write your stuff on its back, so that nobody holds anything against you. Sometimes, back of envelop calculation can also be right.

      9.       Cautiously Optimistic: If you are a research analyst and you do not know this term, you better change your profession. This is a classic term to say and not mean anything. How about being “carelessly pessimistic”

      10.   Good news/Bad news: Choosing to tell good news over bad news or vice versa is an excellent management jargon that make you appear very organized in your thought. Sometimes you can say a bad news as a good news and confuse the listener since his orientation is more on classifying what is good or bad rather than digesting the news itself. Helps a lot in ugly situations.

Make in India- More than just a slogan

This article was published in Indiansinkuwait.com  

1,060,000,000

That’s how many results you get when you search for the term “Make in India” in Google! That’s more than Lingaa (About 4,520,000 results), the recent Rajnikanth starrer!.

After years or decades of mis-governance or no governance, India is now in a difficult position to make up for the lost decades. The new Modi government is now tasked with creating the right atmosphere that can bring the most important thing back to India i.e., CONFIDENCE! This is what is currently lacking among investors, public and other affected parties. The global turn of events is not making that task easier.

One of the key tools to bring that confidence back is the announcement of “Make in India” concept. Media and other global and local thought leaders were quick to dismiss this as a gimmick that will not work in real time. The term may sound familiar to people aged 50 and above as we have heard “Made in India” campaign by Indira Gandhi way back. There is difference though. Made in India is a label (like Made in China) while Make in India is an invitation. An invitation signals strong intent more than a label. The initial idea of Made in India was a concept oriented towards import substitution while Make in India goes beyond that to capture export market as well.

While the full details of this Make in India campaign can be found in the well-designed website(http://www.makeinindia.gov.in/), we should focus on the following in order to appreciate this concept:

1    .    Why should we “Make in India”?

2    .    What should we “Make in India”?

3    .    To whom should we  “Make in India”? &

4    .    How should we “Make in India”?

Why should we “Make in India”

Simply because we are not manufacturing enough! India’s share of manufacturing in the GDP is an abysmal 14%, lower than even countries like Vietnam, Pakistan, Bangladesh, etc. leave alone China which is twice that share. We need to create one million jobs a month and this can be done only by favoring manufacturing. Job creation is the single most important challenge for a young economy like India where a swelling middle class struggles to cope with ever increasing inflation. Apart from the need to create jobs, we should make in India due to cheap labor cost which is half that of China, the main competitor.

What should we “Make in India”

China has swamped the world and India with its cheap products. Today, there is no product category where Chinese are not competing with low cost alternatives. However, as Chinese exhaust this option and would want to move higher up in the value chain, it may open up huge opportunities to other aspiring low cost producers like India. The list of opportunities is huge ranging from automobiles, aviation, biotechnology, construction, chemicals, defense, food processing, leather, pharmaceuticals, etc. The idea of “make in India” need not be understood to be only manufacturing centric alone. It can also include service sector like IT, Media, tourism, Hospitality, Wellness, etc. Only imagination can be the boundary to answer this question.

To whom should we “Make in India”

This is a tricky question. Recently our RBI governor Raghuram Rajan, while lauding the Make in India initiative, argued that we should Make for India than Make in India. His simple suggestion is, given the weak global condition, the world may not need one more low-cost producer. Hence, it may make sense to focus on the huge domestic market before we focus on the export market. In my opinion, both the options are not mutually exclusive. Hence, we can pursue both to provide for the domestic as well as export market. Exports enable India to earn precious foreign exchange and can enhance our global prestige.

How should we “Make in India”

This probably is the most important question. A mere intent to make in India will not take off unless we put together the enabling environment conducive to make in India. The enabling environment is dependent on four key factors of production i.e., land, labor, capital and power which should be augmented by removing the regulatory burden and red tape surrounding it. Several layers of reforms are required to fix each of these four legs. For e.g., it is very difficult to obtain an agriculture land for industrial use and hence pose problems to start an industry. Secondly, we should make sure that if not all, most of the states in India should equitably participate in this make in India mission. Today, only 5 states (Maharashtra, Gujarat, Tamilnadu, Uttar Pradesh and Andhra Pradesh) account for 56% of manufacturing activity leading to wide gulf among Indian states. The make in India activity should have a plan to reduce this gulf and promote wider activity across all states to lift India successfully to the frontline.

India is a huge market with a large demography with a burgeoning middle class with high ambition. Indian citizens deserve better education, healthcare, infrastructure and an able society that is seen by the world as the harbinger of knowledge and culture. This is by no means an easy task and Make in India is certainly a good beginning.

Let us make it happen!

Jai Hind!

The Power of Net working

This article can also be read at Linkedin

It’s not just for marketing people to be well networked. It applies to every profession, in every community. Networking implies enabling active interaction among people that you can connect in order to receive and provide knowledge. It is important because it can make a huge difference to your career, will enable you to come in contact with people that you can appreciate, can build very crucial bridges in your life and it can make a world of difference when things challenge you on many fronts. However, there are many road blocks to effective networking. The question is how to overcome them and effectively network?

The first rule is ‘Overcome hesitation’ – Many a times, we are very hesitant to really make an acquaintance with a stranger, saying Hello!! or writing a small memo introducing yourself. There is the hesitancy in us to really make that first phone call or write that first email. But if you overcome that hesitancy you can feel that you are much more comfortable in terms of how you start building your network. This is the first and most important step that one should take by overcoming hesitation.

The second important thing is ‘Don’t hesitate to ask for advice or opinion’. People really respect being asked for opinion. We always have a very high level of tendency to talk more and listen less. Just reverse the process, make your contacts talk more and provide yourself the opportunity to listen.

The third aspect to Networking is ‘Perseverance’. Don’t be afraid of dead ends. They happen all the time. Not every step that you make towards building your contacts and networking can result in a success. It doesn’t mean that you should give up your networking efforts. We should just put behind those things that doesn’t work and keep moving with the single objective of building effective networking.

The fourth important aspect is when you network, try to follow very basic etiquettes. Thanking a network that just got connected with you is a basic requirement. If you have approached a particular person for a particular aspect, keep him posted about subsequent steps that you take. This will really help them appreciating you in the long run. People do remember small things.

The fifth important aspect is, ‘Don’t restrict your networking group to your professional job colleagues’. It’s a huge temptation to really reach out and build your network only among your job colleagues. It is important to expand your network to your ex colleagues, to your friends, to your educational acquaintances and to a host of other people that can really widen your perspective.

And finally, use social media for building your networks. Among the most popular social Media today, LinkedIn counts as the most important tool for building professional network. You can be very effective by being an active LinkedIn member. You can browse people of repute and request them to connect with you and keep actively engaged in the LinkedIn by contributing to occasional articles, share updates and appreciate people when they move on to something very important. This is the most effective method of networking and it is freely available and people should make full use of this powerful engine.

Happy Networking!

Modi and NRI’s

This article was published in Indians in Kuwait website

The euphoria has settled and Narendra Modi is now our Prime Minister. What does that mean for NRI’s in the Gulf and more specifically in Kuwait.

The Indian diaspora in Kuwait (and the wider Gulf) is undergoing significant transformation from economic and social perspective. During the past few years they have had to encounter several challenges in the areas of education, investments, jobs and more importantly currency fluctuations. All these factors tend to affect NRI mindset. Now that a new leadership is in place in India, it will be interesting to see how this leadership transformation in India will affect NRI’s. I see the following implications:

      1.       Jobs

It is important to note that we have witnessed some sluggishness in the GCC in terms of job opportunities and more so in Kuwait where the exodus of people rendered jobless increased during recent years forcing them to return to their motherland.  Project uptake has been slow in Kuwait and hence fewer needs for even low skilled labors leave alone high skilled technocrats. Kuwait companies have been restructuring and downsizing and hence finding opportunities for displaced people is becoming that much more difficult. How will this situation change given the new leadership in India? It may not change the situation here in Kuwait, but it may change the situation back home in terms of job opportunities. The main deficit India has been facing is that of confidence. Narendra Modi will try and infuse that among business leaders who will then not hesitate to invest in new projects leading to more opportunities back home. Also, the clear mandate given to him by the people of India means that he can take painful decisions without fear or favor. This is required to restart the Indian economy and put it on track at the quickest pace.

      2.       Rupee

The currency performance during the past few years has been of great interest to NRI’s. Steady depreciation of rupee vis-à-vis other currencies (especially USD) has given some cheer to the diaspora as they can now remit more for the same Dinar. However, a strong Indian economy in the medium to long-term will also mean a strong rupee which may not make NRI’s all that happy. Expect Rupee to steadily appreciate over the next few years.

     3.       Stock Market

Many NRI’s have invested in Indian stock market either through mutual funds or directly themselves. Apart from real estate and fixed deposits, stock market investing is a key element of investment for NRI’s. However, over the last few years Indian stock market did not perform as well as say the American stock market. The average annual return is about 11% during the last three years. Corporates listed in the stock market are finding it hard to report healthy growth in earnings, debt level in the balance sheet has increased over time, and slowing economy has not resulted in increased demand leading to lower margins and profitability. All this is bound to reverse once economy is put back on growth track, and liquidity being made available to sectors like Real estate and infrastructure for uplifting projects. Foreign investors have already factored in a grand performance of stock market in the coming years. Investments even at the current level may make immense sense for NRI’s especially in blue chip companies for the medium and long-term though stock markets always encounters volatility in the short term.

      4.       Real Estate

NRI’s have significant real estate commitments back home. Property market has not been doing all that great especially in metros and other important cities. Though prices have not come down drastically, the number of transactions have dwindled taking away liquidity. Major projects are either on hold or getting unreasonably delayed while people borrowed to invest in them. Real estate is a very important element of investing for NRI’s and hence the new leadership is very important for this. The key limitation of the real estate market is the lack of bank funding as banks have either reached their limits or are wary about the non-performing loans to this segment. Also, the dull performance of the IT sector means a significant slowdown in demand. Modi government is expected to provide some directions to institutions and enable reenergizing demand in this vital segment.

      5.       Education

The higher education market in India is especially of interest to NRI’s who invariably decide to send their wards either to India for Bachelor’s degree or to the West if they can afford. However, options back home are quite limited due to skewed demand supply factor where demand far exceeds that of supply for leading institutions leading many NRI’s to fork out extra money (under NRI quota) to get their wards admitted. A simple solution to this problem is to establish more institutions of higher learning. Modi has already made right noises in this direction by espousing “IIT’s and IIM’s in every state in India”. If this dream comes true, then NRI’s can revel in delight and need not worry about the expensive western education for their wards.

      6.       Pride

After all, we are first Indian citizens and then NRI’s. We will all feel immensely proud to belong to a nation that is vibrant, growing and becoming influential in the global market place. We don’t want a weak and non-performing India. Having a leader who can transform a weak India into a super power is what we want to see as Indians and NRI’s. Narendra Modi government should work itself towards this avowed objective and make us proud.

Jai Hind!

Corporate Lessons from a Comedian!

This article was published in Indians in Kuwait website

Sometimes comedians can make serious sense! The other day I was watching an interview with Vadivelu by Divyadarshini (popularly known as DD) in the famous Koffee with DD show in Star Vijay. Vadivelu is a legendry comedian in Tamil movie industry and is an institution by himself for the space he has carved out with audience through his unique wit and humour.

While the intention was to get entertained by Vadivelu through his humorous response, I was suddenly stuck by something that he said in the middle. When queried on what are the three things that he learnt in his 25 years of acting in Tollywood, he responded as follows:

1.       I learnt my acting while in the industry

2.       Never trust what people say in front of you

3.       You can sustain only so long as you produce successes. You are out once you fail

Let us run through this in the corporate world and see how much it resonates.

Lesson 1: Learn while you earn

The corporate world expects you to have sufficient qualification and experience before being trusted with a position. It expects you to come totally prepared so that you can fire from day one. Hence this clamour for credentials from superior institutions (IIT’s and IIM’s) and the craving to have star names in your CV. The corporate world perceives the function to be a job and a process to be driven smoothly. If only it is wired along the lines of the movie industry where it is tolerant for someone like Vadivelu to learn while on the job , it could have produced many more leaders today.

Lesson 2: Never trust what people say in front of you

Vadivelu opines that it is nearly impossible to decipher the true intentions when people say something to you. In other words, they may shower laurels and praises about all your past achievements just to appease your ego, while on the back they may shamelessly bitch you according to him. The challenge lies in detecting that and find your winning ways. While this applies to most fields in our lives, it is particularly evident in the corporate world especially as you climb higher in hierarchy. However, the intensity of such false allurements may be less in the corporate world especially in surroundings where professionals are engaged. The need to be ethical may force few to be upright in terms of feedback and may not resort to “back biting”. But that would be a minority I suppose.

Lesson 3:  You can sustain only so long as you produce successes. You are out once you fail

In other words, only performance and performance alone matters. Legacy cannot support you even one bit. I see this apply in several other fields like sports, medicine, etc other than government bureaucracy! In such a scenario, learning from failures becomes equally if not more important than to clock success.

Can Vishy Anand make it again ever?

Much as I was disappointed with Vishy Anand not retaining the world championship, I felt better when I  chanced upon an article in Hindustan Times that contained a nice table about the details of the former world champions. A slight rearrangement of that table provides fabulous insights. During the last 128 years (since 1886), only 20 geniuses managed to win the championship. In other words, it is a small tight club with high entry barriers. Champions in the past have reigned for many years before they let the crown fall from their heads. On top of the table is Emmauel Lasker who reigned for 27 years in a row without any interruptions. This was followed by Alexander Alekhine with 17 years of reign, though not unbroken. He had a small 2 year break in between. Then a more familiar name emerges; Anatoly Karpov from Russia, who reigned for 16 years with an 8 year break in between. Another genius Mikhail Botvinnik reigned for 13 years from 1948 to 1963, with 2 intermittent breaks. Next in line were three people who reigned for 8 years each. Our very own Vishy Anand, Wilhelm Steinitz and Garry Kasporov achieved this feat in 3 different centuries!

The record book then shows several champions reigning for continuous periods of 6,3,2, and 1 year(s) but none of them could manage a comeback, including the magical Robert Fischer. As I see it, the ability to come back and clinch the title again is very rare and was noticed only among three people in the yester years. In recent times, Vishy Anand is the solitary champion who won back the mantle after a 5-year hiatus from 2002 to 2007.

The question then is, after this recent loss, will Anand just fade away like the 15 other champions or will he mount another successful campaign to take back the crown. The odds are clearly against him in terms of statistics. But isn’t Anand born to defy odds?

PS: Congratulations to Carlsen on his virgin entry into this exclusive club of champions. 

CHAMPIONS	REIGNED FOR..	REIGN	COUNTRY
Emmanuel Lasker	27	1894-1921	Germany
Alexander Alekhine	17	1927-35, 1937-46	Russia, France
Anatoly Karpov	16	1975-85, 1993-99	Soviet Union (Russia)
Mikhail Botvinnik	13	1948-57, 1958-60, 1961-63	Soviet Union (Russia)
Wilhelm Steinitz	8	1886-94	Austria, Hungary, England, USA
Garry Kasparov	8	1985-93	Soviet Union (Russia)
Viswanathan Anand	8	2000-02, 2007-13	India
Jose Raul Capablanca	6	1921-27	Cuba
Tigran Petrosian	6	1963-69	Soviet Union (Armenia)
Boris Spassky	3	1969-72	Soviet Union (Russia)
Robert J Fischer	3	1972-75	USA
Max Euwe	2	1935-37	Netherlands
Ruslan Ponomariov	2	2002-04	Ukraine
Vassily Smyslov	1	1957-58	Soviet Union (Russia)
Mikhail Tal	1	1960-61	Soviet Union (Latvia)
Alexander Khalifman	1	1999-2000	Russia
Rustam Kasimdzhanov	1	2004-05	Uzbekistan
Veselin Topalov	1	2005-06	Bulgaria
Vladmir Kramnik	1	2006-07	Russia
Magnus Carlsen	0	2013-	Norway