The best seller she wrote - Book review

This book is from Ravi Subramaniam who has published thrillers based on banking industry in the past.Similar to Ravi's other books the story revolves around a banking industry executive with an IIM background.

Here's an excerpt from the book , before the review 

The following are review comments provided by a publisher to a new author in the book.

"Suggested alterations to Shreya Kaushik's untitled book

a) Change Aditya's name to something more rustic . The name does not suit the character.
b) Detailing of locations in the book needs to be fleshed out. As of now it is very elementary. the average reader will have to be told what those locations stand for. Take a look at pages 4,89,112, and 165
c)The book is short. Can we look at adding another 15,000 words? We need to have a book of at least 200 pages. Readers will hesitate paying a good price for something less than that.
d)Reduce the gore in the rape scene. While it is very hard hitting, it might put off many.

There were a few more easy to manage points on the list................"


Now the review of the book on similar lines

1) For God's sake please stop using the name Aditya .The banking industry could have been left aside in this book.The theme is more towards publishing and a few Indian author's share this background. But some creativity could have been shown here instead of trying to resemble some real life authors and take some mileage out of it.

2) Will someone who has good writing talent and confident, with a decent background stoop so low for getting a book published ??? or to win a chairman's medal at IIM ( I don't know, The plot seems to be too weak)

3)The story can actually be written on the back of a bus ticket.( that's the reason for not talking about the story in this review) But did the author make it to 350+ pages because of the fact that readers need value for money. oh..my God. The story line is very much predictable once you read the back cover. Sanjay's conspiracy plot doesn't fly beyond a point and his ultimate motive is not very convincing..

4)All of these writers with a banking background seem to rely more on "Steamy" scenes in their book.Should really try to come out of this typecast and write something neat.

5)References to ebola, iphone backup, etc seem highly unconnected to me. Not enough research has been done to get into some interesting aspects that can keep the reader hooked.


The only thing that I liked in the book was the fact - " Indian MNC banks have to simply comply to the orders of HQ and cant quite stand to any decision made by them.( ref. closure of national bank -wealth management division in India ). Probably this is the reason that a lot of high profile bankers find time to write and eventually become full time authors.

In short , a below average book with a weak plot and a very very thin story line written with a lot of words!

I am reviewing ‘The Bestseller She Wrote’ by Ravi Subramanian as a part of the biggest Book Review Program for Indian Bloggers. Participate now to get free books!

Cash back offers ! Not so transparent!

I am not a great fan of cash back offers. But during this year, I made some purchases online for which some cash back offers available.

1. The first purchase was on Amazon for a cash back tie up offer with SBI cards. The offer was about 5% cash back and the cash back was to be credited my my card account after a certain period.
I did this purchase in may and I was supposed to get this cash back by a certain date in August. When I checked my account after the stated date, there was no cash back,. 
I wrote a mail to both of them and my cash back got processed in a couple of days.

2.The second purchase was on Makemytrip with an Amex card. Here a cash back was promised within a certain time frame. Got an SMS stating that cash back has been processed. But there was no real cash back in my card account for 15 days after the SMS.
I wrote to the card company and got the cash back into my card account.

You may ask, so what?

Is this a standard industry practice that cash backs are offered only to those who "remember and ask"?. How many people will track down the cash backs due to them after 30-90 days of their purchase?
Why cash backs aren't offered instantly?

Please track down your cash back offers until you get the "cash" into your account.!



What do I see in the real world? # retirement planning

When you read a lot of material on retirement planning, financial independence,personal finance, etc- You actually end up being scared ( At times, Your fear is used to sell unnecessary products to you),

Not deviating from the topic , the intention of the post is not to say whether you have to do your retirement planning or not!. But to present some real life cases of retired people that I have seen in my circle..( No inferences or lessons learnt at the end..:-) )


 1. Mr. R

 Mr. R was working in a industrial estate in late 90s. He had migrated to metro city for a living. His salary was low and was only enough for a hand to mouth existence. So, there was no question of making any investment. 
During the recession of late 90's , he lost his job ( around 50 years of age). There was no real "financial settlement" from the company when he was laid off.
His son was around 18 years of age at that time and managed to get government job  which coincided with Mr. R's job loss. Mr R has been doing some odd jobs from then on. But his Son continues to do well and supports his father.
Mrs & Mr. R continue to live with their son. 


 2. Mr. S

Mr. S is 96 years old now. He retired almost 4 decades earlier. Didn't have any real savings at the time of retirement ( No house, No financial asset). But he is well supported and taken care of by his children ( who are actually senior citizens now!),
Mr. S depends on  his children and grandchildren for his small indulgences.
Mr. S continues to live with his son.

 3. Mr .L

Mr. L worked in private sector. He got an house constructed during the fag end of his career. The retirement settlement that he got was only enough to pay for the home loan and pay off wedding loans (daughter).
Mr.L continues to live in the house built by him. His children continue to pay a token pension for Mrs & Mr L month on month. 


 4 .Mr. N

Mr. N worked for the government and had built an house in a suburban area during his mid age. His investments were primarily in FDs and in Post office instruments.His retirement benefits also went into Post office instruments.
Mr. N gets an inflation indexed pension from the government. Mrs. & Mr . N live using the pension (Manage to save some portion of it) and they are not really dependent on their children for their basic needs.

5. Mr . P

Mr. P worked in a senior position in a private sector. Had purchased a few plots and some blue chip shares ( they were not blue chips when he bought them) apart from his primary residence with the savings. ( Mrs. P was also employed). With the Equity/real estate boom of 2002-2008, his net worth shot up and was able to make some decent profit .
Mrs & Mr.P comfortably live in a suburban villa. Mr. P continues to hold some of the investment he made during the mid 90s.







Are equity oriented balanced fund safer bets??

Based on valueresearchonline screener, I filtered the top  "Equity oriented balanced funds" and top "Equity funds excluding sectoral funds" based on last 10 year returns as on 15oct2015. Here are the results.

Considering the risk reward proposition, I think Balanced funds are safer bets ( as they are should supposedly be a able to give a better downside protection, apart from automatic asset allocation benefits between debt and equity plus same tax treatment as equity funds).

The returns from equity funds don't seem extremely superior to balanced funds. My take- unless we see a 2003-7 kind of a bull run, the performance differential between these two categories may be minimal. In a downward/ side ward market, balanced funds might even do better!

# Note:- This is not a recommendation to buy balanced funds. Investors are supposed to consult a financial advisor or do their own research before investing. Past performance of funds cannot be extrapolated to the future ! :-)







Thank God it's Monday #TGIF



Yes, you read it right - Do you thank God on mondays??.

I attended a talk in a professional forum today, it was on the topic "Holistic workplace".During the presentation, the speaker quoted some survey that said 66% of the employees around the world are "disengaged" and are not happy to go to work.( Rest 34% ,would be those who had miserable lives outside office and would have preferred devil over the deep shit, I thought :-) )

Coming back to the topic,I have had at least 10 -15 people who had told me over the  last couple of years  that they hated the job like hell. At least 60% of them had HUGE portion of their net pay being paid as EMI ( Car loan, Home loan, EMI for the latest gadget, personal loan to buy an unapproved plot, etc,etc). The latest conversation I had on EMI ...
(EMI = Easy Money from Idiots for the business people)

Ms. J: Hi IM

Me: Hi, How are you doing

Ms.J: Just finished a meeting with the CFO, he was all rude. Once I complete the Home loan EMI ( around 60 lakhs) outstanding, I would quit this job and mostly stop working thereafter.My husband's income is more than enough for us ( except for the loan)

Me: Oh is it??

Ms. J: True

Me: How much is the house worth?

Ms. J: 1 crore 

Me: Then why don't you sell that house ( where Ms J doesn't stay and it was fetching 15k ( EMI  > 60 Kpm) as rent per month- she never ever plans to get there), Short close your loan, Invest 40L which will provide you a monthly income if you need or let it compound.

Ms. J : Oh no! that sounds like a stupid idea. I will loose rental income, tax benefits, appreciation, blah,blah, blah...

Me; Fine , then why you feel that EMI and loan is a burden then?

Ms. J: Oh shit, I forgot ... I need to run to a meeting.

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If you are a shareholder of a GOOD bank that lends to retail, you can very happily proclaim- "Thank God , it's Monday" . #TGIF. 
What constitutes a GOOD bank is a bigger story :-) and would need to write a book on that!!







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