The CFA Society India was established in March 2005 as an association of local investment professionals consisting of portfolio managers, security analysts, investment advisors and other financial professionals. As one of the over 158 CFA Institute member societies, CFA Society India connects local CFA Institute members to a global network of investment professionals. For the continuing up-gradation of knowledge and skills of members, CFA Society India conducts speaker events, workshops led by leading finance professionals.
There is inherent dichotomy in thinking slow idea Sanjoy! The whole purpose of thinking slow is to make a slow but better decision, however the other purpose of learning about this slow decision making is to make a better decision quickly next time. And this kind of assumption based discussion in which academician thinks and try to hide with their good language skills the assumptions they have made to prove there point. In his book Daniel Kanman has fooled the whole world without exactly quantifying: how much slow is slow and on which question who should take how much time. And this is the reason you are having more efficient capital than Daniel kanman, and Charlie and Munger are far ahed of you because they have practiced and mastered this art of destoying the established ideas, which you are trying to do and practicing for 30-40 years and people like me has started 5-7 years back!😂
7:56 Do not agree with subba rao here. Per capita GDP has nothing to do directly with poverty. Luxembourg has the highest per capita GDP so can we call it the richest country in the world? It's not even the part of G20. India's per capita will always remain lower comparatively unless the population reduces significantly.
Programs that are close to 6 months are uploaded on the social media, some information they provide are dated. The trends they speak are also sometimes outdated
about 4-5 minutes before the end of interview, Dr. Subba Rao mentions "Gold Appreciates...", in reality gold doesn't appreciate much in relation to other financial assets (Equities or even fixed income these days), it is the currency (rupee) that depreciates as a result of which, in rupee terms, the value of gold appreciates. If you look in dollar terms ,the value of gold at its lowest since start of this century in Apr 2001 was USD 468.19 per ounce and today (in Apr 2024) it is USD 2285 per ounce, that is an annualised growth of just 7.1% and that is assuming you bought at absolute lowest and sold at absolute highest, anything in between means you didn't even beat inflation. But because in these 23 years rupee depreciated gold gave 9-odd percent annualised return in rupee terms, that is still less than 10% CAGR in 23 years (precise 9.85% CAGR). And yet people are crazy about gold. 🤦🏼♂
Must understand the details to figure out what is likely to happen in future to be adequately prepared.dr rao ' explanation is par excellence and very articulate.thanks
1. Volatility in finance is "referred" to as Risk. It is "described" as 'rate and magnitude of change in prices'. India Vix is a cheap fork of CBOE (Chicago Board of Option Exchange) and is based on NIFTY Index Option prices only, meaning it does not scale on other important indices. Fix this first please by investing in R&D and creating our own VIX like framework and tech. This will create jobs in STEM as well. 2. Always blindly considering US institutions as "reputed with lot of credibility" is an illusion that people need to come out of. Indians are often targeted at workplace in USA and the environment has a highly geopolitical clout. Harvard and Wharton conduct psychological experiments without consent on Indian workforce to write research papers and articles. And this is happening from last 40 years. 3. If "Market" does not comprehend empathetic commentary well, then the system might be very shallow in its approach and needs a fix. Alpha commentaries do not guarantee a desired outcome always. 4. Indian Labor is skilled, they are given wrong feedback by the west. And you never nurtured a talent before harvesting. Before talking about world order, one needs to know how world works. I don't think the actual snapshot has been captured in the minds and hearts of policy makers.
"I have made millions of such mistakes throughout my career. This is the best lecture I have ever heard; I only wish I had listened to it several years ago. Despite being a professional Chartered Accountant, I have made numerous blunders."
Dr Rao seems to be so out of depth when he talks about gold. His comments are shallow because of the limited context of Fiat dollar regime. In times to come the Gold reserves of a country would be its real worth as dollar looses the global status and looses value. He may be right .. but in a limited paradigm.
Don't underestimate Aravind Panagariya as Mr Modi's government is here and everything is possible but it will take time as we are dealing with global economics not only local .
Excellent presentation by Dr. Rao whom Modi government must include in the council of economic advisors, not just a bunch of YES people around Mr. Modi!
