Title: 3 Idiots Review: Fun Movie with a Theme!
Posted using ShareThis
Tuesday, December 29, 2009
Wednesday, September 2, 2009
A little Understanding of GMT
GMT stands for Greenwich (pronounced as grenich) Mean Time. It is the 0 meridian passing through Greenwich, England.
Now a days, England is on BST (British Summer Time) until 25 October 2009. BST is 1 hour ahead of GMT.
How about India? India follows IST which is Indian Standard time. IST is GMT + 5:30 = BST + 4:30
How about US? US has 6 time zones out of which 4 are shared with Canada : EST, CST, PST, MST and the remaining 2 – Alaska and Hawaii Time zones are separate.
Lets look at EST (Eastern Standard Time). EST is normally GMT – 5 . But during Day time Saving ( 2nd Sunday of March – 2nd Sunday of November 2 am). EST = GMT -4
During day time saving in US,
Thus to calculate current time in London, from US, one needs to just add 5 hours to US EST. (4 hours to GMT + 1 hour to BST) .
To calculate Current time in India, from US, one needs to just add (4 hours + 5.5 hours = 9.5 hours)
When day time saving is off,
Current time in London will be 5 hours ahead of US EST (because by that time BST = GMT)
And Current time in India will be 5+ 5.5. hours ahead of US EST = 10.5 hours + EST
For example, if in India time during day time saving is 12 in night,
US EST (day time saving is) : 2:30 in afternoon
US EST ( no day time saving) : 1:30 in the afternoon.
Tuesday, June 23, 2009
Testimonial for Harsh
Today I wrote a testimonial for Harsh. Here it goes :
One of the most intelligent guy I have seen is horsie – that's what I call him. Apart from ghoda…though he preferred being called as "smoochie"..- that was his alias in AOE. He was a champion in the game. He used to play it for hours. Starting at 11 in the night till 5 am in the morning. The game might last for only 6 hours but the discussion about the last will last for another 6 hours.
But that intelligence disappeared when it comes to keeping himself clean. His room was the dirtiest room in the college. Clothes everywhere in the room….yikes ;)
He is a very supportive friend as well. Whenever you need him, he will always be there with you. You need an unbiased suggestion – ask him. He will give you a very rational and bold advice and not just to please you.
He is misunderstood by people many at times but he is very good at heart. Very honest and true to his friends. And that's what makes him special and loved by all of us.
"Arre Dost",thanks for being around when I really needed it… if ever u need any help, I will always be around! You rock...have an amazing life with the ghodi ;)
Tuesday, June 16, 2009
The Law of Garbage Truck
Brilliant insight into the way we live our life!
"One day I hopped into a taxi and we took off for the airport. We were driving in the right lane when suddenly a car jumped out of a parking space right in front of us. My taxi driver slammed on his breaks, skidded, and missed the other car by just inches! The driver of the other car whipped his head around and started yelling at us.
My taxi driver just smiled and waved at the guy. And I mean he was really friendly.
So I asked, "Why did you just do that? This guy almost ruined your car and sent us to the hospital!"
This is when my taxi driver taught me what I now call "The Law of the Garbage Truck."
He explained that many people are like garbage trucks.
They run around full of garbage, full of frustration, full of anger, and full of disappointment. As their garbage piles up, they need a place to dump it and sometimes they'll dump it on you.
Don't take it personally.
Just smile, wave, wish them well, and move on.
Don't take their garbage and spread it to other people at work, at home, or on the street.
The bottom line is that successful people don't let garbage trucks take over their day.
Life's too short to wake up in the morning with regrets, so… Love the people who treat you right. Forgive the ones who don't.
Life is ten percent what you make it and ninety percent how you take it!
Tuesday, January 20, 2009
A layman’s understanding of Sub-prime Crisis
Early 2000 : House prices started spiraling upwards in US and continued through early 2006
High house prices, hence to increase people’s buying power, housing interest and lending rates started decreasing – it increased demand for supply of new houses.
So, now banks started offering mortgage loan to people at these lower interest rates.
Interestingly, they also offered loan to people with poor or no credit histories – in return they asked them for higher interest charges.
First, what is a Mortgage Loan – a loan secured by giving a security/collateral to the bank. Now these borrowers offered the real estate as mortgage – i.e. their house – Now this is called “Sub-Prime Mortgages”
2004 – Federal Bank began a cycle of interest rates hikes that raised the cost of borrowing i.e. the interest rates offered by the bank for loan.
2005 – US housing market rates began tumbling.
2006 – Interest rates increased 16 times!!
Now, with increased interest rates and bad credit history, how will the borrowers pay back? Thus, several “sub-prime mortgage” holders started defaulting on their loans.
Moreover, the US housing market rates also tumbled. Thus, even if the banks sell the property, they won’t get their entire money back, as the market price of property has reduced.
Thus, this caused the business failure of many lenders. Now this is where the lenders report loses.
But, the lenders don’t stop at giving loans to people. These lenders are facing a high credit risk – i.e. the risk of borrower defaulting. In that case, the lender loses its money. So, lenders want to reduce its risk. So how does one reduce the risk – by selling the risk to someone else.
Now 2 questions – What does selling the risk means and why will someone buy the risk?
Lets deviate for a while and try to understand what is accident insurance. I have a ‘risk’ that I will have an accident anytime, so I insure myself. By making some payments to the insurance company regularly, I am assured when I have an accident, then insurance company will pay me money required to cover the ‘risk’ of accident. But where does insurance company makes money – because it gives insurance cover to those people who they think have a bleak chance of meeting an accident. Thus, if out of 10 people 5 people meet with accident, Insurance company makes profit by investing in the remaining 5.
Now lets try to put the thing in the loan offered by the banks to these borrowers. Bank had the ‘risk’ that these borrowers might default so it sold a part of its risks. How? By selling them to investment banks. Now, whatever interest borrowers paid to bank , the bank paid a part of the interest to the IB in return that if the borrowers fail to pay, then the IB will pay the entire amount due to the bank.
Now, interestingly, all borrowers failed to pay. So banks asked IB to compensate them. Thus with no safety net, IB had to incur huge losses because they paid to the bank the property price which has tumbled now.
The IB even tried to write off the losses but the amount of borrowing done was so huge that it could not compensate for the losses incurred by the bank!!!
High house prices, hence to increase people’s buying power, housing interest and lending rates started decreasing – it increased demand for supply of new houses.
So, now banks started offering mortgage loan to people at these lower interest rates.
Interestingly, they also offered loan to people with poor or no credit histories – in return they asked them for higher interest charges.
First, what is a Mortgage Loan – a loan secured by giving a security/collateral to the bank. Now these borrowers offered the real estate as mortgage – i.e. their house – Now this is called “Sub-Prime Mortgages”
2004 – Federal Bank began a cycle of interest rates hikes that raised the cost of borrowing i.e. the interest rates offered by the bank for loan.
2005 – US housing market rates began tumbling.
2006 – Interest rates increased 16 times!!
Now, with increased interest rates and bad credit history, how will the borrowers pay back? Thus, several “sub-prime mortgage” holders started defaulting on their loans.
Moreover, the US housing market rates also tumbled. Thus, even if the banks sell the property, they won’t get their entire money back, as the market price of property has reduced.
Thus, this caused the business failure of many lenders. Now this is where the lenders report loses.
But, the lenders don’t stop at giving loans to people. These lenders are facing a high credit risk – i.e. the risk of borrower defaulting. In that case, the lender loses its money. So, lenders want to reduce its risk. So how does one reduce the risk – by selling the risk to someone else.
Now 2 questions – What does selling the risk means and why will someone buy the risk?
Lets deviate for a while and try to understand what is accident insurance. I have a ‘risk’ that I will have an accident anytime, so I insure myself. By making some payments to the insurance company regularly, I am assured when I have an accident, then insurance company will pay me money required to cover the ‘risk’ of accident. But where does insurance company makes money – because it gives insurance cover to those people who they think have a bleak chance of meeting an accident. Thus, if out of 10 people 5 people meet with accident, Insurance company makes profit by investing in the remaining 5.
Now lets try to put the thing in the loan offered by the banks to these borrowers. Bank had the ‘risk’ that these borrowers might default so it sold a part of its risks. How? By selling them to investment banks. Now, whatever interest borrowers paid to bank , the bank paid a part of the interest to the IB in return that if the borrowers fail to pay, then the IB will pay the entire amount due to the bank.
Now, interestingly, all borrowers failed to pay. So banks asked IB to compensate them. Thus with no safety net, IB had to incur huge losses because they paid to the bank the property price which has tumbled now.
The IB even tried to write off the losses but the amount of borrowing done was so huge that it could not compensate for the losses incurred by the bank!!!
Friday, January 16, 2009
Important Lesson In Life..!!
Its important in life to reach out,
To strive for greater achievements,
To go for that greener grass that is on the other side of the fence….
But one must also be careful……
To strive for greater achievements,
To go for that greener grass that is on the other side of the fence….
But one must also be careful……
Sometimes you can reach too far !
But when you find yourself over-extended and you're stuck in a situation that you can't get out of,
there is one thing you should always remember........
Not everyone who shows up......
Is there to help you!!!!
Subscribe to:
Posts (Atom)
