I don’t need to be an insider to tell you that Wall Street employs lots of PhDs. PhDs of various denominations, but mostly those with backgrounds in Math, Physics and Engineering are employed by various Wall Street firms by the thousand. I don’t think too many of them exactly work on the kind of stuff [...]
Currently reading last Saturday’s Mint Lounge Wimbledon special. Was reading this article on the McEnroe-Borg rivalry, and I was taken back to the only McEnroe match that I clearly remember seeing. This was in Wimbledon 1992, which was more like a typical French Open. Upsets left right and centre. Unknown players making it to the [...]
Recently I finished reading Mandelbrot’s The (mis)Behaviour of Markets for the second time. Fantastic book. I think it is a must read for people who are interested in financial markets, and especially for those who work in capital markets. While it stays away from equations and “math”, and prefers to use pictures (or cartoons) to [...]
I begin this post with an apology. About two years back I’d promised that I won’t write any more on Studs and Fighters on this blog, and I’ll save all that for my forthcoming book. Unfortunately, since then I’ve managed not more than one page of my book, and that too has been in the [...]
So there are two reasons why you could be employed. Comparative advantage and competitive advantage. Let me explain. In international trade, there is a concept called “law of comparative advantage“. Let me explain with the classical (and simple) example. Robinson Crusoe is marooned on an island with Friday. Now, let us assume there are two [...]
The problem with live music at wedding receptions is with the volume. If you keep the volume too low, the musicians find it offensive. If you keep the volume high, on the other hand, people can’t hear each other talk and get irritated. And I’ve never really attended a wedding reception where the live music [...]
One common shortcoming that top management in a lot of companies is accused of is that they give too much attention to details (i.e. sometimes they micromanage), and they are unable to see the big picture. For example, if you think about the financial crisis of 2007-08, people kept making stupid bets about the mortgage [...]
Why does the government require colleges in India to have “objective criteria” for admissions? I understand that such criteria are necessary for government-owned or run or aided colleges where there’s scope for rent seeking. But why is it that “private” colleges are also forced to adopt “objective criteria” such as board exam marks or entrance [...]
I just read a long article in today’s Business Standard (how I used to miss the paper until I resubscribed to it last week!) about the ongoing labour struggles at the Maruti Suzuki factory in Manesar. So the workers there want to form a new union, and allow a whopping 33% of the new union’s [...]
I’m married to a Bharadwaj. To put it another way, I’ve “bailed out” a Bharadwaj. Let me explain. There is a concept of “gotras” among “Caste Hindus”. Each person is supposed to have a paternal ancestral line to a rishi, and that rishi’s name is your gotra. For example, I’m supposed to be a descendant [...]
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