Thursday, November 29, 2007

25 most powerful people in business

25 most powerful people in business FORTUNE
25 most powerful people in business
Some are empire builders. Others are hired guns. But if they truly have world-class oomph, they're on Fortune's subjective - yet really quite accurate - list of the most powerful businesspeople in the world.

Tuesday, November 27, 2007

India real estate riches shun US real estate market India & Pakistan
India's 10 richest property investors have more funds than Donald Bren, Donald Trump, Samuel Zell and the next seven wealthiest U.S. real-estate investors, Forbes Magazine reported. Mumbai has the world's second-highest office rents after London's West End, according to data compiled by real-estate broker CB Richard Ellis. Rents in Mumbai rose 55 percent in the past year to $189.51 per square foot, almost double the costs in midtown Manhattan, CB Richard Ellis reported

Subprime contained in planet earth

Paul Kedrosky: Best Subprime Quote du Jour
Best Subprime Quote du Jour

Best subprime quote of the day goes to John Mauldin. He is paraphrasing Jim Grant, and Grant has been saying this for some time, but it still counts:

"The subprime problem, we were told, would not spread to other markets. It would be "contained." And it has, according to Jim Grant. He quipped last week that it has been contained on planet Earth."

Wednesday, November 21, 2007


15 Successful Entrepreneurs Who Didn’t Need College | College-Startup
15 Successful Entrepreneurs Who Didn’t Need College

The opening of India's Real Estate Market

The Opening of India's Real Estate Market
Pulling Out All the Stops: The Opening of India's Real Estate Market

Spring 2005, Opened Indian real estate Market

Compelling is Foriegn investment is early in Life cycle. reallly really early stage
Mauritius Cyprus and Singapore. With out allowing Indian capital gain. Hope to maintained

Current environment is very conducive for foriegn investment.

Economic model is spectacular, Infrastructure is the Key
Contraint is improving roads, airports and hotel room ( Infrastructure deficit) forming funds with government which is awesome.

Driver of opportunities of FDI ?

We have a country prdoucing 2.5 mln educated employable workers a year.
Economy producing GDP 8 and 9 highest in the world.
Projections of growth is expected to continue in the long term.

Ripple effect in the econmomy.

72% in the villages. Moving to cities. More office space, housing and sure thing. Constrained by infrastructure.

Bangalore very significant portion with no mass transit. It will fly in to populated city.
Rental, Residential, and Hospitality is really a key with retail operations.
Home owners are 25 to 30 years. Rental units to condomnium.
Cultural evolution is assuming debt and lack of rental porperties is the opportunity.

Indian and China real estate differences

Investor would favour infrastructure.
India is service based and china is manufacturing based
very very early life cycle in India.
2/3 under age 35. english speaking democracy highly educated (Just the begining)
can India sustain that returns, Risk adjusted return is gonna be same.

“Why India?,” but “Why not India?

Pulling Out All the Stops: The Opening of India's Real Estate Market
Unprecedented investment opportunities are beckoning in all sectors – retail, residential, commercial and hospitality.

Real estate values have been appreciating at a staggering 30 percent annually, spurred by government reforms and the relaxation of foreign real estate ownership constraints. Direct foreign investment is surging – and with good reason.

India is the world’s most populous democracy with a growing middle class and the largest English-speaking workforce outside of the United States. In purchasing power,

India’s is the world’s fourth largest economy with a growth rate nearly equal to China’s. Thanks to urbanization and easier credit access, developers can’t build residential real estate fast enough. In spite of red tape, sometimes inadequate infrastructure and widespread poverty, skyrocketing demand in the office, commercial and manufacturing sectors is likely to keep the Indian real estate market hot for years to come. The question may no longer be “Why India?,” but “Why not India?”.

Transactions in emerging markets

Transactions in emerging markets

Key success factors for deals in emerging markets are identifiable at each stage of the transaction lifecycle:

  • Strategic analysis: Clarity of purpose drives success
  • Opportunity analysis: Know the deals, build relationships with all stakeholders
  • Transaction development: What you don’t know will come back to hurt you
  • Negotiation and execution: The 'best' deal is the most workable deal
  • Transaction effectiveness: Getting it right at the end means getting it right at the start

Money has to go somewhere

Tech Stock Oasis: Can It Last?
There's good reason, however, why tech companies might perform well amid current conditions. Technology companies, which traditionally do not carry much debt, are looking like a safe alternative to the housing market and the heavily leveraged financial sector. "Money has got to go somewhere," says David Geltner, director of the Massachusetts Institute of Technology's Center for Real Estate and a professor of real estate finance. "A lot of money left the tech sector in the early part of this decade and went to real estate, and now maybe some of that money will leave real estate and make its way back to tech." Geltner says the shift is already happening,

Emerhing markets over valued

I strongly criticize the article. While I have to agree with his PE multiples i have to say there is quite less to worry about atl least for couple of years especially in India. Too much money chasing few deals. I think from the governance part India has did a pretty good job in locking in as much as money as can when they come in.

While the fundamentals of the finance past valuation are past. I am sure the high PE multiples are driven by the projected growth not for one quarter but for coming years. Recalling exactly the same book. World in flat ( Had it flattened enough) definitely know they are enough bumps in lot more areas and its slowly catching up.

I can challenges the author . If we can come up with a consensus for real estate investing in India.

Emerging Markets: An Increasingly Poor Bet? - Seeking Alpha

Consider for example the Price to Earnings (PE) ratios of these markets (on estimated 2007 earnings):

United States S&P 500: 15.5x

United Kingdom FTSE 100: 12.1x

France CAC 40: 12.4x

Germany DAX 30: 12.6x

China Shanghai: 42.7x

India Sensex: 22.4x

Venezuela: 20.6x

Pakistan: 18.6x

Slovenia: 35.6x

Success breeds success

Success breeds success:

I had been really fortunate to collaborate with some of best minds. Both in my work and in academia. These people are immensely successful few of them are Ivy league degrees and people with extra ordinary character and manners. Definitely in the long tail of the standard distribution.

I think Stephen Colbert is not much different from John Chow. Both of them understands mass psychology. Needless to say I learn more from watching and listening to him than any other. There is a need for any one who wants to be successful to be associated with more success. This is definitely true in case of me. And I recall Ram Shriram saying that always hire A type people because they are not worried about their job security and all. They know they are good and always can find more people. Especially in the below interview Larry answers Doerrs questions by saying how you fund these growth.

He answered "I am going to hire 10.000 brilliant engineers and they will lead us to there".

Doerr Interview

John Doer and John Battelle interview from searchblog

Amazing interview. Definitely I like the breadth of interview covering all the points from past investments and the upcoming trend. I guess Doer is a stat guys. He always talks in numbers.

My best liked few points.

Battelle to Doerr what makes you invest in Google.

Technical expertize
Outstanding management team
Reasonable approach to financing the company
Sense of urgency because of tremendous growth
Nerdy - Single college drop outs white male with no social life

Tuesday, November 20, 2007

People always under estmaite the power of free

A VC: Kindling This Blog
My favorite VC Fred Wilson, has a very interesting post about Amazon Kindle. What to say, when content distributors are going to learn their lesson.

If you cant be a leader learn from leaders. Google doesn't have a single page in terms of content and still best revenue stream. Give a break and make the content available for free and if you are lucky you will make a buck or two for yourself and your poor share holders.

ps: Amazon is a great company which I have a lot of admiration and respect, who ever over seeing the kindle is just screwing it up.

New lesson. Who ever associate with the telecom companies its time for them to revamp their PR department.

Friday, November 16, 2007

Indias real estate riches

If you follow my articles, I am sure would have noticed most of its centered around Finance, real estate and infrastructure, venture capital and private equity.

I kind have this inner feeling that this is were we are heading to. There is a enormous amount of growth prospective in this area and I dont wonder the foray of US biggies to these sectors in to emerging markets, Especially India and China.

I can definitely bring a lot of value for any firm who is interested in India real estate through local expertize especially in south India Bangalore, Chennai and Ernakulam and leverage the valuation methodologies used in US through real estate consulting work. It makes definitely my life easier that I can speak all the four local languages at ease. So why not.. May be this India trip in December can bring some things which I am looking to do. As per say I don't have any special agenda but surely Market research and quick trip to Bangalore will be definitely in the charts.

India's real estate riches story

"Kushal Pal Singh is fourth on the 2007 India
Rich List with a net worth of 35 billion dollars, making him the
world's richest real estate developer," Forbes said.Singh's
wealth appreciated over 250 per cent after his company, DLF, went
public in June this year and the stock has surged 60 per cent since
then, it added.

Unitech's Ramesh
Chandra ranks 8th with a net worth of $11.6 billion, followed by
Wadhawan at the 26th spot with a wealth of $2.35 billion.

Raheja and Hiranandani, real estate developers from the financial capital of India - Mumbai, rank 30th and 31st with a net worth of $2.15 billion
and $2.1 billion respectively.

there are 54 billionaires in India according to Forbes, 14 of them
could not make the cut for the 'India's 40 Richest' list which required
a minimum wealth of $1.6 billion.

Jain of Parsvnath Developers ranks 46th with $1.25 billion net worth,
while Rohtas Goel of Omaxe is positioned at 48th place with $1.2
billion. Parsvnath and Omaxe are based in India's capital New Delhi.

Of the seven real estate companies that have entered the Forbes' list, DLF, Omaxe and HDIL got listed in the stock exchanges this year, while Parsvnath entered the stock market last year.

What to say more..

K P Singh: World's richest realty developer

India's booming real estate sector has more than doubled the number of billionaires from this space in just 12 months, with DLF's Kushal Pal Singh emerging "the world's richest real estate developer."

Among 54 Indian billionaires identified by Forbes magazine, there are seven real estate developers with a net worth of over a billion dollar each

Thursday, November 08, 2007

M&A firm acquires M&A firm

Oligopoly Watch

M&A firm acquires M&A firm

company GCA, which specializes in advising other companies on mergers
and acquisitions, followed its own advice, we hope, in announcing its
acquisition of US company Savvian, also an M&A
advisory firm. The deal is for $780 million.

Founded in 2004, GCA is #2 in its category in Japan, following financial services company Nomura. It has clients such as Nikko Cordial
(just sold to Citigroup) and Matsushita. Savvian specializes in
high-tech acquisitions, an area that is still hot in spite of the
recent slowdown in US M&A
activity. Created in 2003, it has advised in 70 deals adding up to $12 billion.

announcement was part off a growing tendency for Japanese companies to
be involved in international acquisitions, something in which GCA may
be better equipped to advise them. Japanese M&A
activity is growing, according to the Financial Times, up over 10 percent this year, reaching over $122 billion so far this year.

As a Wall Street Journal article ("Japan's GCA Joins Push to Look Abroad", 11/2/2007)
puts it:

Many Japanese
companies have grown increasingly worried that growth in their home
market will slow as the country's population shrinks. To push profit
higher, many are looking for ways to expand into markets overseas where
growth promises to be faster. To do that, many Japanese companies have
decided they need to acquire a local firm,

Monday, November 05, 2007

Stay health Physically


1. Simple food, quality, quantity.
2. Regularity in eating and sleep.
3. Masticate (means chew your food); leave table hungry.
4. We are a part of all we have eaten.
5. Exercise, five minutes, three times daily.
6. Air — most important.
7. Sunlight, artificial light.
8. Water inside and outside.
9. Loose clothing.
10. Early to sleep; get plenty.

How Low Can the Dollar Go? Thoughts from 12 Experts

How Low Can the Dollar Go? Thoughts from 12 Experts
November 1st, 2007

Recently the dollar has seen troubled times. After reaching parity with the Canadian dollar and the offloading of US Treasuries from Asian countries, things just aren’t looking good. Find out what financial experts have to say about the dollar’s future.
Paul Robinson, Barclays: “We expect it to get quite a bit weaker.”
The Telegraph reports, “Barclays expect the Fed to cut rates by another quarter point to 5pc in a move that further erode one of the dollar’s key props.” Paul Robinson, strategist for Barclays, explains, “We’re dollar bears. The dollar is coming up for an important few weeks. We expect it to get quite a bit weaker.” They believe that it’s possible the dollar could fall to $1.50 on the euro.
Thomas Stopler, Goldman Sachs: “The data suggests there will be a weaker dollar.”
Thomas Stopler, economist for Goldman Sachs, predicts a troublesome future for the dollar. Based on the negative capital-flows situation, he interprets data to mean that “there will be a weaker dollar.”