A Stylish Hitter - Sunil Gavaskar - 1966

*** The below blog post is a reproduction of an old article on The Little Master, Sunil Gavaskar, written by C. N. Venugopal, and published in a sports magazine of The Hindu in 1966, few years before his India debut.  ***

October 13, 1966

Never in the 20-year-history of the All-India Schools cricket did an opening pair massacre the opponents' bowling as the West Zone openers did during the last season against Central Zone. Again, never in the same championships were so many runs (421) scored in so short a period (215 minutes).

The pair concerned, Anwar Qureshi and Sunil Gavaskar, took on all corners and slammed a double century each. When Qureshi left the crease after having knocked up 203 glorious runs, Gavaskar was still there and went on with his innings merrily driving, pulling and cutting all that were hurled at his wicket. He smote them far and wide. Nine of the Central bowlers thundered, spun and yorked; but the stylish Gavaskar stood rooted. He battled on and on "till the cows came home." When the West Zone skipper declared the innings closed at 406 for two, the unconquered hero had amassed 242 runs studded with 42 boundaries in 240 minutes. A fantastic innings indeed!

Talk Of The Town

The stuff that Gavaskar is made of was conclusively proved when he scored another double century in the next match against East Zone. The manner he did it was the talk of the town for days on end. A hundred before lunch and another between lunch and tea! This gives a true indication of the break-neck speed in which he scored. One hundred and sixty-four runs of his score of 222 in 243 minutes came in fours alone. His stylish square-cuts and off-drives off the back-foot left the fielders clapping instead of clasping the ball!

The final between West and North Zones revealed Gavaskar in a new role, that of team man. Two wickets had fallen for 28 - both at the same total. This would have unnerved any one. But not Gavaskar. He became patience personified and in a match-saving, 61-run, fourth-wicket partnership with Eknath Solkar he stemmed the rot. His 85 runs included 12 fours.

Coveted Honour

Consistency thus earned him the coveted honour for the junior cricketers in the country - The J.C. Mukherjee Memorial Prize - last season.

Sunil Manohar Gavaskar, who was born in July 10, 1949, being a nephew of a former Test keeper, was drawn to cricket easily. His parents also took great interest in his career and one could see them keenly watching their son play very often. With the uncle for inspiration and L. B. Kenny as coach Gavaskar fell into the groove very soon.

If his debut in the All-India Schools Championships in 1963 was nothing to write home about, his improvement in the next season was heartening. Opening the campaign with 12 runs against Maharashtra, he rattled up 68 against Saurashtra in the next match. This earned him a berth as reserve in the West Zone team.

Last season he was in full cry. He gave an indication of things to come when he slammed 158 runs against Baroda in the final. He put on 234 runs for the first wicket in partnership with Anwar Qureshi. The tocain was thus sounded.

Sheet Anchor

This light-weight continued to be in the limelight against the London School boys team. It was Gavaskar, who took the early measure of Suffling and Selvey and Boyer and Lewis by scoring the first century in the representative matches. His total of 293 runs also included four double figure knocks - 55 and 15 (not out) at Delhi and 35 and 57 at Kanpur.

He was the sheet anchor of St. Xavier's High School in the local Giles and Harris Shield tournaments, from 1961 till the last season. His ability with the willow came to the fore in the second season when he totalled 400 runs including two centuries against Fellowship and Balmohan Schools in the Giles Shield 

He piled up a similar total the following year. In the quarter-final against King George he shone both with bat and ball scoring 129 runs and taking five wickets for 62 runs. Balmohan again had a taste of his batting prowess when he hit up 88 runs.

Acme of Career

By then he had made his mark in the Harris Shield too. In a third round match against Maratha High School, which had Eknath Solkar in its ranks, he carried his bat through with 166 runs including 27 fours. From 0 for one he and Milind Rege took the score to 260!

In the last season, which was the acme of his career so far, he scored 492 runs in all hitting four centuries in the process. His highest - 160 - against Bombay English School was scored before lunch.

Gavaskar has proved a very successful player for the Rajasthan S. C. in the "C" Division of the Kanga League last season - his first - scoring 299 runs, in 13 innings. He remained not out twice and hit 75 runs against Young Mohds. He started this year's campaign in the league for the same club, which has been promoted to the "B" Division, with a century and 70 runs.

A first year science student of the St. Xavier's College, Gavaskar, who has a penchant for the sweep, is material full of promise.

Startup India: A Quick Analysis

Startup India Standup India, brainchild of Modi, is going to do wonders for the nation by creating jobs and raising the standard of living. This all-inclusive action plan will boost entrepreneurial ventures and we can expect a decent inflow of foreign funds. But before we jump the gun, let’s analyze a few of the initiatives announced.

Self-certification and registration through an app or a portal will indeed make startups’ lives so much hassle-free. This will ensure that entrepreneurs are not discouraged in registering their companies due to lack of a simple process.

Teaching students innovation and business right from an early age is going to go a long way in developing the entrepreneurial spirit throughout the country. The Atal Innovation Mission and setting up incubators will act as the trigger for interested youth and give them the right direction and supervision for their projects.

Patent protection, adoption of Intellectual Property Rights (IPRs) and legal support and assistance will make entrepreneurs feel secured and help them concentrate on their main job. Coming to the financial part of it - no income tax for three years, no capital gains tax, tax exemptions for higher values and rebate on filing patent applications – these measures would revolutionise the startup growth in the country.

And to top it all, if the startup fails, the government will assist to get it back on track; and in the worst case, it will help the startup take a faster route to exit.

This is truly a watershed moment for entrepreneurs in India; the Startup India campaign is highly commendable. Masayoshi Son, CEO of SoftBank said, “In the next 10 years India will repeat the growth China saw in the last 10 years and in my opinion, India could be bigger.”

But the major point of trouble here is the execution. We have often seen a grand vision which ultimately falters during implementation. The bane of our system has always been terrible or faulty execution.

It should not just be that governments help startups; the startups should also be involved in policy-making and startup governance. These steps should develop a healthy startup ecosystem. Next, the app, for example, for registration, should be ready and running within a few months. Who will build it, what will the cost be – these are questions that still wouldn’t have been looked at. How will teaching entrepreneurship to students and youth be included in the curriculum is not very clear, and do we even have enough qualified teachers to teach on this subject?

In no way am I demeaning the efforts of the government in trying to support new businesses, promote entrepreneurship and thus, unleash the power and energy of young India. But care should be taken to monitor the progress and the status of these action points. It is absolutely essential that we see these ideas actually see the light of the day. 

Six months of Donald Trump as the US President: What will happen?

If at all, Donald Trump does become the next US President, it is going to send shockwaves throughout the world. The Economist Intelligence Unit has listed Trump presidency as one of the top 10 global risks and such concerns are not unfounded. As much as we have seen and liked Trump – the astute businessman and the stern interviewer, we are yet to see his political persona; the few glimpses that we see these days don’t look very promising.

Trump has a rich business experience, probably more than any previous presidents. And his supporters expect him to resurrect US economy just the way he has built the Trump Empire. One of the main talking points of his proposals – the immigration reforms, where he talks about deporting about 11 million undocumented immigrants and building a wall between Mexico and US - let’s assume he implements this first up. This will significantly reduce cheap labour and affect agriculture and allied industries badly, leading to sharp rise in food prices. According to American Action Forum, this would cost the federal government about $400 billion and reduce the GDP by $1.6 trillion; stabilising this would take 20 years.

Trump’s tax plan has garnered a lot of praise from businesses, hedge funds and individuals. But a closer look reveals an enormous tax revenue loss. Such an act would lead to more business investment, more jobs, faster GDP growth and a bigger economy but also dramatically amplify the budget deficit and the spiralling US debt. And markets are not going to react too kindly to that. Investors would be spooked and would start demanding higher interest rates on US treasury bonds.

But all these points aside, what happens to the various bilateral relations of the US? Trump has already made some scathing remarks against China, and China wouldn’t like to forget it easily. Though he looks pro-India, and traditionally Republicans are so, India won’t really feel assured of his intentions. His statement of tearing up the Iran treaty has already sent jitters in international circles, and ‘backing Putin 100% over Syria’ might not go down too well with US’ traditional allies. The first 6 months would be a testing time for all the foreign diplomats and embassies.

All this will only happen when Trump is allowed to implement all that he has preached. We have seen it umpteen times what is promised before elections is often not what actually happens after that. Trump does not have many allies in the Congress and his ideas might never get the final approval to become laws. He probably might realize soon enough that running the nation as its president is not quite like running a company as a CEO. But till then, the entire world will be on tenterhooks, not knowing what next Donald Trump would have up on his sleeves. His intentions might be to make US the strongest economy but it might end up sowing the seeds of an uncertain and unstable global future.

References

• http://www.bbc.com/news/business-35828747
• https://en.wikipedia.org/wiki/Donald_Trump#Entertainment_media
• http://www.thestreet.com/story/13335121/2/if-donald-trump-was-president-here-s-what-would-happen-to-the-u-s-economy.html
• http://www.mirror.co.uk/news/world-news/president-trump-what-america-look-7467325
• http://www.wsj.com/articles/analysis-of-trumps-tax-plan-shows-big-cuts-in-taxes-federal-revenue-1450807194

Jewel..In a Traffic Jam!!

When you are studying in one of the top B-schools of the country, you invariably get opportunities to attend conferences, participate in different events and meet industry stalwarts. You also get a chance to watch a yet-to-release movie and have a tete-a-tete with the director himself. Mr. Vivek Agnihotri, the much-acclaimed TV and movie director, columnist, blogger and a debater, was kind enough to screen his new movie Buddha in a Traffic Jam at SPJIMR, Mumbai.

The title of the movie does not give out much of the storyline. But it is not difficult to guess that the name is in fact, a metaphor; it is not just unusual but conveys a deeper message. This movie is about how a smart management student studying in one of the biggest B-schools in India and the world, with fresh and noble ideas, gets entangled in the murky world of politics and corruption. The movie tries to expose the sinister nexus between the Naxals, NGOs, academia and the acclaimed scholars and their motives and does it in a quite unabashed way. It explores how students in certain universities are systematically brainwashed to become intellectual terrorists.

The movie also examines the themes of moral policing, campus politics, plight of the adivasis living in tribal areas and the middlemen who eat up all the money before it reaches the intended recipients. The movie pokes its viewers by questioning whether India, a young nation ridden with corruption and poverty, can indeed become a superpower with its never-ending fight between socialism and capitalism.

The protagonist of the movie, Vikram Pandit, played beautifully and confidently by Arunoday Singh stands for Buddha, a learned person who has ideas and the zeal to bring about a change in the society. But he can’t really attain enlightenment because he is stuck in the traffic jam of bribery, dishonesty, socialism, capitalism, the system and the establishment. Anupam Kher plays the economics professor, Prof. Batki in a very understated but effective manner and the range of emotions he shows in the movie look so effortless. Pallavi Joshi and Mahi Gill play their characters with grace and poise, just what the film needed.

Many people staying in the urban areas are not actually aware about the Naxalite movement. Maoism, the predicament of the tribals and the off-the-limit Bastar region are topics which we just read in the newspapers sometimes and ignore. I hope this movie starts a healthy debate about the various themes that it covers and engages the population that is not well-versed with these things, in meaningful conversations. Not that everyone has to agree with what is shown in the movie; we are a country where everyone has the right to voice his / her opinion (or so we think). But this movie should atleast enable the young minds to think, read and talk on these subjects.

We have a society where new ideas, new visions are not given a straight path to thrive and flourish. This Buddha is looked at as an enemy of the society, someone who is challenging the status quo and someone who needs to be taught a lesson before he sets a dangerous precedent. This traffic jam needs to be cleared if we want more Buddhas to emerge from our nation.

This corruption satire has already received nominations and awards at various prestigious film festivals around the world including Madrid, Jakarta, Mumbai and Jaipur. The film’s promotional campaign under the theme #IAmBuddha has also started to catch on.

A movie such as this is hard to release in India; finding the distributors is a nightmare. Small budgets don’t allow the movie to be strongly marketed; it deters the film from reaching all its target viewers. A must watch for all students, their teachers, the intellectuals and the establishment, this film is indeed one of the most hard-hitting movies to come out so far this year. When Vivek Agnihotri in a response to an answer said, “India needs freedom from mediocrity, inefficiency and incompetence”, I couldn’t agree more. Kudos to the director who has dared to make a film on such a topic with utmost passion and sincerity. I hope this jewel does not get lost in the traffic jam of Indian cinema as another fine movie which couldn’t reach its audience.

References

• http://jansatyagrah.in/videos/Why-Buddha-In-a-Traffic-Jam-is-so-contemporary-movie
• http://www.imdb.com/title/tt1890363/plotsummary?ref_=tt_ov_pl
• http://yourstory.com/2016/03/buddha-in-a-traffic-jam/

IAIP Annual Forecast Event – Key Takeaways

The 8^th Indian Association of Investment Professionals (IAIP) Annual Forecast Event held at the historic International Convention Hall of Bombay Stock Exchange (BSE) on 1^st April 2016 saw large attendance from various market leaders, industry professionals, students and investors. Experts shared their views and outlook on the financial, economic, fiscal and monetary topics and indicated what they thought about the prospects of the Indian economy in the next financial year.

With assistance from my friend Pranav Pendyala, I have jotted down a few significant points discussed in the session.

General Overview

• BSE Sensex clocked first yearly loss in the last four years
• Negative interest rate environment in major parts of the globe has rarely happened earlier. Banks might start charging the public for keeping their money with banks.
• Rate cut not being implemented by banks though it has been initiated by RBI. This is due to the liquidity crunch for banks. This crunch leads to higher WACC.
• Urban consumption of goods and services is increasing along with volatility.
• According to BASEL III regulations, more capital is being demanded on banks’ balance sheets. Private banks have an advantage over public banks as private banks already have more capital than their public counterparts.

2016-17 Projections: Survey Results

1. Best Asset Class for Risk-adjusted Returns

a.       Equities: 58%

b.      Government Bonds: 9%

2. Real GDP Growth

a.   Between 6.5% and 7.0%: 29%

b.      Between 7.0% and 7.5%: 40%

3. CPI Inflation

a.       Between 4.5% to 5.0%: 21%

b.      Between 5.0% to 5.5%: 19%

c.       Between 5.5% to 6.0%: 20%

4. 10-year GOI securities Yield

a.       Between 6.5% and 7.0%: 34%

b.      Between 7.0% and 7.5%: 39%

5. Crude Oil (Brent) prices– per barrel

a.       Between USD 35 and USD 40: 21%

b.      Between USD 40 and USD 45: 22%

c.       Between USD 45 and USD 50: 22%

6. Gold Prices

a.       Between USD 1100 and USD 1200: 29%

b.      Between USD 1200 and USD 1300: 28%

7. Average INR – USD Exchange Rate

a.       Between 66 and 68: 28%

b.      Between 68 and 70: 22%

8. Target for BSE Sensex

a.       Between 26000 and 28000: 24%

b.      Between 28000 and 30000: 35%

9. Sensex EPS (Corporate Profits)

a.       Between 0% and 10%: 44%

b.      Between 10% and 15%: 41%

10. Most critical driver for Indian Equities

a.       Government policies and reforms: 39%

b.      Corporate Results: 22%

11. Most critical concern for Indian economic growth

a.       Global Low Growth Environment: 45%

b.      Government Policies: 26%

12. Compensation expectation in Finance industry

a.       Increase between 0% and 10%: 39%

b.      Increase between 10% and 20%: 41%

Assessment of FY 2015-16

• GDP Growth of 7.5%
• Volatile global environment
• Global factors have impacted the market more than domestic factors

How FY17 will be different from FY16

• Nominal GDP growth will be almost equal to Real GDP growth
• Big hit on banks due to NPAs
• Rural economy should be better this year comparatively
• Back-to-back monsoon failures for the past two years not expected to continue

References

• IAIP Annual Forecast Survey Results FY 2017:    https://www.cfainstitute.org/about/vision/Documents/iaip_8th_annual_forecast_survey_fy2017.pdf

Biases Explained - Through 'Twelve Angry Men'

The movie Twelve Angry Men begins with a jury of 12 men who are locked in a deliberation room to decide the fate of an 18 year old boy from the slums who is accused of murdering his father. All the evidence, on the face of it, points to the fact that the boy is indeed the murderer, and a guilty verdict would send the boy to the gallows.

Now, even before the discussion between these 12 men begins, most of them are convinced that the boy is guilty and they would be done with this thing soon. Most of them, except one! And the tale begins..One juror who wants to atleast discuss the case threadbare, who wants to examine the facts one more time, who wants to be absolutely sure before they all ask the judge to pronounce him guilty.

An intriguing story, devoid of any rosy scenery and glamour; the movie also gives an amazing lesson about how biases influence our thinking and how biases clog our logic and our minds. I was fortunate enough to learn this concept in such an interesting way in my college and here, I try to put them down in words. Let us look at a few types of biases that we come across in the movie and try to understand them.

Juror #3 is very biased towards the accused teenager, and that is because his own son had once hit him on the jaw and had run away from home at the age of 15. He says, "I've got a kid...when he was fifteen, he hit me in the face...I haven't seen him in three years. Rotten kid! I hate tough kids! You work your heart out (but it's no use)". This text explains that this juror is biased towards all teenagers who rebel and who act tough. So, he just generalizes his personal experience and lets this logic influence his thinking about the slum kid.  He uses the actions of his son towards him as an anchor around which his arguments revolve. This type of bias can be called 'Anchoring Bias'.

Look at what Juror #4 has to say to support his argument. He says, "We're missing the point here. This boy - let's say he's a product of a filthy neighborhood and a broken home. We can't help that. We're not here to go into the reasons why slums are breeding grounds for criminals. They are. I know it. So do you. The children who come out of slum backgrounds are potential menaces to society." He assumes that dirty locales and domestic fights are a norm in slum areas, and children living there have crime and villainy drilled into their minds. He, in fact, is very convinced that they are a social nuisance. This bias can be a 'Stereotype Bias'.

Juror #10 stereotypes all those people who live in the slums negatively. He says, "They don’t need any real big reason to kill someone, either. You know, they get drunk, and bang, someone’s lying in the gutter… most of them, it’s like they have no feelings". He assumes that all those kids who are born in such conditions and who have been exposed to violence from a small age, turn out to be notorious, and can murder anyone they want. This belief convinces him completely that this kid had indeed killed his father. He has this image of slum kids and uses this information to interpret it in a way that confirms his beliefs about teenage kids. This bias can be called 'Confirmation Bias'.

It's quite fascinating how innovative and entertaining learning can be. An amazing movie, which holds up beautifully even if seen today - a must watch for all.

Tidbit: Did you know Twelve Angry Men was remade in Hindi as Ek Ruka Hua Faisla in 1986 and starred accomplished actors like Pankaj Kapur and Annu Kapoor?

What Freedom Means To Me!!

Freedom is important, it is essential. It is an inevitable part of our lives; in fact, we have started to take it for granted. Today, we might not even be able to answer what freedom actually means to us. Let’s try to find a response to this.

What freedom means to me? Freedom, to me, is making my own choices. I should be able to go where I want to, I should be able to live where I want to, and I should be able to do what I want to. I would love to be free to be able to decide my own career path and not just go with the herd. I would be thrilled to be able to study something that I like instead of something that I should. But try digging beneath the surface more, and you will find that the problem lies with our notion of freedom.

Liberty is not just for material things. It is deeper, more profound. Freedom to me means breaking the shackles of our minds, our suspicions and our doubts about others. Our society is too rooted into beliefs and conceptions that make it judge anyone and everyone. “A man who cries is not really a man”, “A woman who wears short clothes is characterless”, “He is gay. Therefore, he is not normal”. These are just some of the prejudices that are absolutely common in our society. Freedom comes from within, and we won’t be able to experience it until we let our minds flow free. Freedom is when you don’t make yourself and others a slave of your own narrow thinking, of your own biases and of your own judgement.

#MyFreedom – Let me fly, let me travel. Let me make mistakes, let me learn.