Archive for January 19th, 2017

The FinTech Bullshit Detector…

January 19, 2017

Chris Skinner wonders how so many Fintech companies are surviving?

He says given the large numbers already, next time someone tells you about this new finance technology just scream ūüôā He has prepared a list of things which help you detect¬†FinTech Bullshit:

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Paytm founder displays hubris of the worst kind…

January 19, 2017

One thought this bit of news is a rumor till till one saw the video.

The founder of Paytm actually says this in Paytm’s Annual Day party:

In the video, he is shown as saying, “Jo hamare saath nahin hai wo royenge. Ek saal me wo kiya jo unhone 10 saal me nahin kiya. 2017 will be ours. Kaise nahin hoga? Kaleja diya, jaan di, khoon diya, saara kuchh laga diya. B********. Humne kuchh socha (repeats three times), aur saala doosron ki pant geeli nahin hui to kya socha. Ab koi India me hamari taraf nahin dekh raha, kyon? Hamare ko saara desh nahin, saari duniya dekh rahi hai.” (Those who are not with us would cry. We did it in one year what others could not do in 10 years. 2017 will be ours. How can it not be? We gave out lives, blood, our everything (for this). If we think of something (repeats three times), and it does not cause our competition to wet their pants, did we even think? It is not only India, but the entire world is now tracking Paytm.)
 
According to OfficeChai, in last year’s annual party, Mr Sharma had reportedly said that “no f***ing brand better than us”.
Really? When did things go so crass and vulgar with Indian CEOs? That too of one of the highest (sorry the highest) growing company in the country?
This is hubris at its worst and could just be the beginning of downfall of the company..

The imagery and themes of New Zealand’s new series of banknotes

January 19, 2017

It is not just about Sweden or Norway but those in New Zealand as well.

This Dec 2016 article by Matthew Wright in Reserve Bank of New Zealand Bulletin is a breezy read.

The Series 7 banknotes, introduced from late 2015, represented the first major re-design of New Zealand‚Äôs banknotes since the early 1990s. Although the selection of people, places, birds and other pictorial themes¬†remained largely unchanged from the earlier Series 5 and 6 notes, the specific imagery was updated and full advantage taken of modern printing techniques to increase the reproduction fidelity. Some of the new security features, such as the ‚ÄėSpark Live‚Äô bird image and the holographic window, are themselves of significant aesthetic appeal.

Indeed! Stunning pictures of banknotes can be seen here as well.

India’s central bank¬†should take a cue. It should publish variety of¬†research and not the usual boring type on inflation and growth..

Financiers of Victorian England would marvel at our nativity about markets and economics

January 19, 2017

An old post written in Oct 2016 but really fascinating.

Andrew Odlyzko, Professor of Mathematics (?!) and an interdisciplinary researcher writes about Victorian Finance:

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What is the point of having these Parliamentary briefings?

January 19, 2017

Lot of noise was made regarding this RBI Governor appearing before a Parliamentary committee yesterday (another one tomorrow). It was called as grilling and what not. But in the end it just turned out to be a damp squib as RBI just refused to answer most of the questions.

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What I learned from Warren Buffett and Charlie Munger?

January 19, 2017

Shane Parrish tries to answer the question.

We make a big deal of skills of investors and financiers but deep down it boils down to basic human qualities.

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Reserve Bank Information Technology Pvt Ltd — The biggest and most important RBI division in future?

January 19, 2017

One just came across this recruitment page on Indian central bank website. It advertises for opening in one of its subsidiaries called Reserve Bank Information Technology Private Limited or REBIT (website of REBIT here):

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