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Excerpt from Winning Methods of the Market Wizards

  
  Education
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Chapter 2: Hard Work

I am sure that the theme of this chapter comes as no surprise to you. We all know, (or at least most of us do) that to get anywhere in this life, no matter what your field may be, it is going to require some hard work along the way. There can’t be a harvest if you haven’t worked in the fields. And no where is this concept of hard work more evident than in the professional traders I have come to know over the years.

What is striking to me about this group of super-traders, the Market Wizards, is how almost every single one of them is a genuine workaholic. For these people, the level of commitment and dedication to trading is absolutely amazing, and it has engendered in them a performance level so intense and so consistent, it almost boggles the mind. When you look at these individuals, you find the kind of hard work that is almost inconceivable for most people to maintain even for one day, never mind as a lifestyle. But it is this difference in personality and commitment that makes the Market Wizards who they are, and accounts for much of their high levels of achievement.

In order for you to get a real sense of the kind of hard work we are talking about here, I think I should describe for you a couple of individuals and how they work. This will give you a good idea as to how intensely passionate they are about their pursuits.

 

David Shaw

David is a private, almost secretive individual, who has been running a very successful hedge fund for many years now. Basically, his fund is a very sophisticated form of arbitrage. Over the years, it has posted excellent results. (more…)

Mera Bharat Mahan -37% population below Povery line

  
Analysis, Economy, Education
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WHEN THE Indian Planning Commission finally accepted that the number of people living below the poverty line in India is 37.2 per cent of the total population then most of the people, who have always questioned the government claims of overall growth and development had the last laugh.

Finally the government itself has accepted its failure to bring about an all inclusive development in India. Though from time to time the government spends crores to show the middle-class Indians that it is doing the best for an all-inclusive growth but in reality still a lot needs to be accomplished to make India a true super power. A country can never rise to upper levels with a massive 37.2 per cent of its population living under the poverty line. One assumes that that is an official and conservative figure. The actual figure will cross 50 per cent quite easily.

From time to time, several schemes have been launched by the government for the development of the people living below the poverty line. But implementation has remained a big failure in case of all such schemes. Moreover, most of the BPL tagged Indians need to bribe various officials to prove that they are really poor. Such anomalies in the system will never bring good results for the country of India. That is for sure.

There are a;sp some allegations that it is pretty easy to get a BPL card in India just by bribing corrupt officials. Such a process deprives the original or genuinely poor Indians from getting their dues. So, the government must do something in order to identify the real persons, who fall in the below poverty line segment. Otherwise, no all-inclusive growth is possible without the correct measure of the real BPL community. Moreover, the various people’s groups must also take some initiatives to force the government to take action against the corrupt officials and make the system clean.

 
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