This investment did so well that the price of its shares advanced to two hundred times or more than the price of the half-interest by 1971/1972 2/
Ben Graham managed to compound money at 20%/year for 20 years at his partnership following a value investing strategy
In 1948 he acquired 50% stake in GEICO. It had to be distributed to his investors
They almost didn't make the investment due to some accounting questions 1/
This investment did so well that the price of its shares advanced to two hundred times or more than the price of the half-interest by 1971/1972 2/
An obvious one is that there are several different ways to make and keep money on Wall Street 4/
But behind the luck, or the crucial decision, there must usually exist a background of preparation and disciplines capacity. 5/
More from Dividend Growth Investor
More from Economy
On Jan 6, 2021, the always stellar Mr @deepakshenoy tweeted, this:
https://t.co/fa3GX9VnW0
Innocuous 1 sentence, but its a full economic theory at play.
Let me break it down for you. (1/n)
On September 30, 2020, I wrote an article for @CFASocietyIndia where I explained that RBI is all set to lose its ability to set interest rates if it continues to fiddle with the exchange rate (2/n)
What do I mean, "fiddle with the exchange rate"?
In essence, if RBI opts and continues to manage exchange rate, then that is "fiddling with the exchange rate"
RBI has done that in the past and has restarted it in 2020 - very explicitly. (3/n)
First in March 2020, it opened a Dollar/INR swap of $2B with far leg to be unwound in September 2020.
Implying INR will be bought from the open markets in order to prevent INR from falling vis a vis USD (4/n)
The Second aspect is now, that dollar inflow is happening, and the forex reserves swelled -> implying the rupee is appreciating, RBI again intervened from September, by selling INR in spot markets. (5/n)
https://t.co/9kpWP7ovyM
https://t.co/fa3GX9VnW0
Innocuous 1 sentence, but its a full economic theory at play.
Let me break it down for you. (1/n)
91 day TBills at 3.03%. Interest rates are even lower than RBI has them.
— Deepak Shenoy (@deepakshenoy) January 6, 2021
On September 30, 2020, I wrote an article for @CFASocietyIndia where I explained that RBI is all set to lose its ability to set interest rates if it continues to fiddle with the exchange rate (2/n)
What do I mean, "fiddle with the exchange rate"?
In essence, if RBI opts and continues to manage exchange rate, then that is "fiddling with the exchange rate"
RBI has done that in the past and has restarted it in 2020 - very explicitly. (3/n)
First in March 2020, it opened a Dollar/INR swap of $2B with far leg to be unwound in September 2020.
Implying INR will be bought from the open markets in order to prevent INR from falling vis a vis USD (4/n)
The Second aspect is now, that dollar inflow is happening, and the forex reserves swelled -> implying the rupee is appreciating, RBI again intervened from September, by selling INR in spot markets. (5/n)
https://t.co/9kpWP7ovyM
You May Also Like
Speech Delay is most common in children nowadays
In ancient times, our grandparents used to follow typical natural way of caring the needs of a child. All they used were more of natural products than chemical based for the growth of child.
One of major step followed was to feed Gurbach Jadd/ Vasa Kommu/ Acorus Calamus for initiating good speech ability in a child. This stem was needed to babies on Tuesdays and Sundays in mother's milk.
Vasa is feed to baby after the 1st bath on 12th day in week. Weekly only thrice it is fed and named as :
Budhwar - Budhi Vasa
Mangalwar - Vaak Vasa
Ravi Vaar - Aayush Vasa
This stem is burnt and rubbed against the grinding stone in mother's milk or warm water to get a paste
The procedure to make it is in the link
https://t.co/uo4sGp7mUm
It should not be given daily to the child. Other main benefits are
1. It clears the phlegm in child's throat caused due to continuous milk intake. It clears the tracts and breathing is effortless.
2. Digestion
For children who haven't got their speech and is delayed than usual should feed this vasa on these days in week atleast for 6months. Don't get carried away with this dialogue
"Some gain speech little late"
In ancient times, our grandparents used to follow typical natural way of caring the needs of a child. All they used were more of natural products than chemical based for the growth of child.
One of major step followed was to feed Gurbach Jadd/ Vasa Kommu/ Acorus Calamus for initiating good speech ability in a child. This stem was needed to babies on Tuesdays and Sundays in mother's milk.
Vasa is feed to baby after the 1st bath on 12th day in week. Weekly only thrice it is fed and named as :
Budhwar - Budhi Vasa
Mangalwar - Vaak Vasa
Ravi Vaar - Aayush Vasa
This stem is burnt and rubbed against the grinding stone in mother's milk or warm water to get a paste
The procedure to make it is in the link
https://t.co/uo4sGp7mUm
It should not be given daily to the child. Other main benefits are
1. It clears the phlegm in child's throat caused due to continuous milk intake. It clears the tracts and breathing is effortless.
2. Digestion
For children who haven't got their speech and is delayed than usual should feed this vasa on these days in week atleast for 6months. Don't get carried away with this dialogue
"Some gain speech little late"