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Weekly Newsletter

Zeal to read

Weekly Newsletter | by 2 | on 2021-09-12 04:17

It is impossible to produce superior performance unless you do something different from the majority – John Templeton

News you may use

Automobile Registrations Jump 14.5% in August – Even as supply crunch continued to hurt the industry, both PV & CV registrations rose due to low base effect

Capital Formation: States’ capex growth remains high, even on rising base

Daily generation of e-way bills rise on-month in early September

EASE OF DOING BUSINESS – New Firm Incorporation Surges by a Record 26% in FY21 at 1.55 L

EVEN IF 3RD WAVE HITS – Next 3 qtrs to show faster recovery than Q1: Finmin

Exporters to Get ₹56,027 crore in Dues Under Promotion Schemes – Govt move to benefit 45,000 traders, of which 98% are in MSME category

FinMin releases Rs 9,871 cr to 17 states as revenue deficit grant

Fitch says India continues to ‘lag way behind’ in COVID vaccination; rising debt-to-GDP a concern

FPI Equity Assets Soar to a Record $650 b – Assets see $255-billion growth from August 2020 on sustained inflows

Government Gives Final Approval To Privatise 13 Airports

Govt to release Rs 56,027 cr to exporters for pending tax refunds

India Inc’s Biz Sentiments Drawing Closer To Pre-Pandemic Level: Survey

India signs deals to export 1.2 million tonnes of sugar in new season

India’s mcap up over 2x in 18 mths, races past $3.5tn – Boost From RIL, TCS, Infy -Country Beats Global Peers In Aug

India’s Fuel Demand Jumps 11% In Aug, Consumption Totals 16 Mn Tonne

India’s inclusion in global bond may attract $170 to $250 bn in inflows

India’s Power Consumption Up 5.45% At 27.41 Bn Units In First Week Of Sept

I-T returns exemption forms for 75+ notified

Job mkt expands in Aug too, hits pre-Covid level

LPG accounts for nearly 10% of monthly expenditure of rural households: Report

Net direct tax receipts up 95% on-year in FY22

PC shipment in India hits 5-yr high of 4.1 million units in Q2: Canalys

RBI Hopeful of 9.5% Growth; Cos Better Prepared for Any 3rd Wave

SOVEREIGN RATING REMAINS AT BBB-, OUTLOOK STABLE – Indian Economy Picking up Steam after 2nd Wave:

S&P -Says growth will improve over Sept quarter, points to indicators such as GST receipts and vehicle sales

Union Cabinet approves Rs 10,683-crore PLI scheme for textile sector

USD 2.5-billion buy of 56 C-295 military transport planes cleared

V-shaped recovery in Q1 testimony to strong macroeconomic fundamentals: FinMin

Views may be of use

Investing – Six Things I Learned in Business School That Were Absolutely Wrong
I got my MBA at Kellogg nearly four decades ago and have been teaching investing for the last 20 years. Though not much has changed in the curriculum, over time I’ve realized that some things are downright wrong. Here are the big six.
Source: https://www.advisorperspectives.com/articles/2021/09/06/investing-six-things-i-learned-in-business-school-that-were-absolutely-wrong

Inequality, Interest Rates, Aging, and the Role of Central Banks
The key insight is that the ultra-rich are different from you and me: they have much higher saving rates regardless of their age. No matter how expensive your tastes, there’s a limit to how much you can consume, which means any income above that threshold has to get saved. The ultra-rich therefore spend relatively small shares of their income on goods and services that directly provide jobs and incomes to others, instead accumulating stocks, bonds, art, trophy real estate, and other assets.
The ultra-rich need no encouragement to refrain from buying goods and services, so any increase in income concentration should put downward pressure on interest rates. Another way to look at it is that an increase in income concentration boosts the demand for financial assets, which should push up prices and push down yields.
Source: https://theovershoot.co/p/inequality-interest-rates-aging-and

The modern curriculum
We’ve spent 130 years indoctrinating kids with the same structure. Now, as some of us enter a post-lockdown world, I’d like to propose a useful (though some might say radical) way to reimagine the curriculum.
Source: https://seths.blog/2021/09/the-modern-curriculum/

How to Buy a Little Happiness, No Matter How Much Money You Have
Despite the toll financial instability places on our psyches, many of us have cosigned on the idea that what matters for happiness is intangible and unpurchasable, and as a culture, we can be quick to judge excessive wealth and flashy spending. But we also champion small business owners and entrepreneurs — the ones who’ve taken a risk and earned their money through hard work, perseverance, and prudence. As a result, we say we believe money won’t make us happy, yet we often work as if earning money and growing wealth is one of the most important routes to a life well lived. It’s a dissonance that’s driven, in part, by a stingy social safety net, one that requires Americans to make more and save more than those in other economically advanced nations — just to survive.

’Why Am I Not Rich & Famous?’ the Delusion of Our Times
Person A was born in 1930. Person B was born seventy years later, in 2000. They both start applying the Graham investing strategy at a very early age, let’s say when they were 15 years.
Person A becomes Warren Buffett, once the richest man on earth, who experienced one of the biggest booms in value stocks when he was young. Person B loses half of their money because value stocks are out of favor in the 2010s. And picking winning value stocks is almost impossible.
Same strategy, same actions, different times, different outcomes. Becoming rich and famous is mostly a matter of luck.
Source: https://dariusforoux.com/rich-and-famous/

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