Showing posts with label Education. Show all posts
Showing posts with label Education. Show all posts

Wednesday, June 1, 2016

Your Broker As A Cheat (Part 15)


The Simpson's invited their new neighbors the Parkers over to dinner. During dinner Mr Simpson asked Mr Parker what he did for a living.4 year old Billy Parker jumped in and said“Daddy is a fisherman!"To which Mrs Parker replied" Billy why do say that? Your daddy is a stock broker not a fisherman.""No Mom. Every time we visit dad at work and he hangs up the phone he laughs, rubs his hands together and says I just caught another fish.

Your primary task as an investor is to inquire whether your brokers’ office is a branch office or a franchisee.  If you are a customer at a branch office, you could be in serious trouble.

Most nationwide brokers open a branch office in cities and appoint a branch manager along with certain staff, equipment etc.  The fixed costs are loaded now and it is you the customer who will now how to ensure that all this paraphernalia is paid off.

The Branch manager has daily targets. Daily targets.  There is no exception, to my knowledge

Below are the responsibilities of the Branch manager which does not include the obvious ones of managing the branch etc

Reach daily brokerage targets
Ensure that specific shares are bought by customers

I will explain point 2 first.  A brokerage house does own certain shares in companies where they have taken a stake.  This is typically done to increase the stock price and help the company look good on the bourses.  The stock price soon reaches a level where the promoters are ready to sell and make a killing.  The promoters first sell their shares off in the accounts of all the dubious people they have arranged for themselves.  This happens while the stock is still rising in price.

The next stage is set and this is when the brokerage house directs all their branch managers that all the customers must own this script.  This dictate actually comes in the form of “advice” from Vice Presidents.  The branch manager will ask you to buy some small qty.  The customer soon observes that the price has increased by 5% or so.  This is when the customer feels like a typical idiot and rushes in to buy more of the stock.

The brokerage house then sets targets for each branch and is actually now offloading its own stock.  The price soon recedes and all interest is lost in this wonderful (sic) stock.  The customer is now left with shares and no money and will probably wait for a decade till the stock regains its past glory.

Point one is fairly simple. Daily brokerage must exceed daily expenses.  Here the branch manager will ensure daily trades, future and options transactions, short term trading, hourly calls, investment ideas and what not.

Do inquire if your account is at a branch office.  If so, do be suspicious of the calls you get !


© Nitesh Kotecha

Sunday, March 6, 2016

HIPPOS WITH HERNIA – Understanding Nationalism And Patriotism Without The Hullabaloo

I have been reflecting on the above matters and have come to a conclusion – Nationalism and Patriotism come second to Religion in terms of a justification for giving up or sacrificing our lives.

The more one delves into these issues, the more idealistic and (sometimes) pompously moralistic one may become.  As these issues are a source of stability and identity, it somehow allows a person to moralize, control, and sermon others about it.  There is also this metaphysical and invisible crown that people wear when they announce themselves as “nationalists” or  “proud of their nation” individuals.  These very people then remove the crown and put on the metaphysical wigs and robes of a judge and then pass on judgments on people who have views that differ.

I am taking this opportunity to clarify the above issues and hopefully assist my readers in to developing a better understanding of the matters.  It is written in the hope that we all develop a perspective on these issues and thus understand how and why individuals differ in society.  An understanding of the above matter begins with the understanding of virtues and values.  Let us begin with virtues.

Virtue is moral excellence.  Anything that is virtuous is capable of producing moral excellence in individuals or in a society.  Plato, the great philosopher, laid down piety, moderation, wisdom, courage and justice as the principle virtues. Aristotle said famously in his book, Ethics, “Anybody can become angry - that is easy, but to be angry with the right person and to the right degree and at the right time and for the right purpose, and in the right way - that is not within everybody's power and is not easy.”  Here we find that moderation is emphasized as Aristotle often warned us against extremes.  Ayn Rand had her list - rationality, productiveness, pride, independence, integrity, honesty and justice.  Martin Seligman and Chris Peterson list courage, justice, humanity, temperance, transcendence, and wisdom as requisites for a stable personality – in other words excellent moral behavior.

We now see that all virtues somehow are non-arguable, universal, and indisputable truths that cut across all nations, religions, societies, institutions and individuals.  The opposite of virtue is vice.  Buddhism lists vices being Absence of shame and embarrassment, Jealousy, Stinginess, Lack of Remorse, Drowsiness, Distraction, Laziness, Anger and Concealment of wrongdoing.  The Bhagvad Gita lists desire, anger and greed as the three gates to hell – implying vices.  We can now see that all vices too are non-arguable, universal, and indisputable truths that cut across all nations, religions, societies, institutions and individuals.

Let us now come down to values.  This is where we enter cognitive quicksand. Values are preferences that concern an action or an outcome. Values tend to influence our attitudes and behavior towards the world and all tangible and intangible issues that arise therein. Values are ethical, moral, religious, political, and social.

Values differ between people, on a larger scale between cultures, countries, and also between cultures in the same country.  Likewise values may be similar across different cultures in different countries.  A well defined value system leads itself to a moral code and it is this moral code that individuals or societies accept.  It is these very same moral codes and that bring about differences in individuals or societies.

Have you ever seen a society, a religion, or a country that argues and debates on virtues?  Does any country have its constitution that highlights and extols injustice as its pillar for governing its people?  However, the same cannot be said of values.  People born in the same family differ on values and so what can be said of cultures and citizens of the world?  Some values may jump out and call on us (punctuality, tidiness) and yet these very values may seem unacceptable to other people.  Likewise, we may abhor the values that other people have adopted for themselves.

One other fact may be said of values – values have the tendency to go to extremes.  There is nothing like too much justice but there is something like being too tidy to the point that one may defile ones brain with that kind of aggression towards tidiness. Patriotism has its extreme too – jingoism.

With the above sequence of thoughts, let us now move to the topic of patriotism.  Patriotism is an emotional attachment that a person may link either (mostly) with his place of birth or where one had found fulfillment of some sort.  This attachment may be due to other values that the country may represent or its historical background, or the culture it may demonstrate. The World Values Survey (WVS) is a global research project that explores people’s values and they too assess patriotism in their survey as a value.

We now come to an inescapable fact – values are personal while virtues stand the test of universal applicability.   The law may legislate a virtue but the law does not legislate values or morality.  Countries which have legislated values find themselves out of sync with the world with its citizens migrating to other countries.

We come now to the topic of hippos with hernia.  I use this expression (from The Lion King) to describe those people who carry patriotism on their sleeve. Their sole desire is to develop an identity beyond their existing capabilities and create a form of differentiation for themselves.  Somehow they feel that they can carry a plume on their heads when they go around talking patriotism.

The case gets bad when they cannot tolerate light comments and jokes and take offence under the garb of patriotism.  The matter gets worse when any criticism of the government is directly construed as being unpatriotic. One can be patriotic to the core and still have disdain for the political party in power.  In fact, a true patriot would always have an axe to grind with the government in case he / she is under the impression that the government is pursuing policies that go against national interest. If that is the case, the people who love their country step out and express that love for their country by voting the government out of power.

However, the matter then goes to hell when the only objective of these patriots is the pursuit of non-patriots and then somehow turn and twist any fact to label them as such.  This activity seems to keep these patriots busy and under the illusion that they are doing some service to the nation by trumpeting their patriotic feelings at the drop of a hat.

What can I now say of people of one country who have settled in another country and also obtained a citizenship there?  These people earn their livelihood in another country and still tom-tom of their country of birth.  This is a disgrace to the country that granted them citizenship and whose constitution they wowed to protect.  I had a relative from Africa who would kiss his country of father’s birth right there on the airport.  Yet, he would bring in gold without paying the customs duty!  Talk of Patriotism!

Let us now come to the concept where great anger and disdain is shown to those who seem unpatriotic.  This is a violation of virtues.  Here the person expressing anger and disdain has chosen to emphasize a value over a virtue.  This is not only immoral but also illegal.  The law does not account people for their quantum of patriotism - neither its increase nor decrease.

Patriotism is a value and an individual has a right to accord any level to the value and the individual does not have to prove it to anyone – least of all a self-righteous indignant self-professed patriot.  Margaret Thatcher mentioned something that throws light to this – “If you have to prove you are a lady, you are not”.

Patriotism is a value that must be rooted in harmony and certainly not one where a person is willing to break the law in the name of the nation.  Taking the law in one’s hands is probably the most unpatriotic act a citizen can indulge in.

India is a great country. I don’t really care of its faults. Let us respect our constitution and the laws derived from there. India is our mother. Mothers need nothing – only respect.

© Nitesh Kotecha

Sunday, May 18, 2014

Because You Were There

Time passes, the world changes

I'm still the same old kid
And your jokes still bring me laughter
As if you still were here


And it hurts when I smile

'Cause my heart still remembers
When you were around


'Cause you were there
When no one was

Just when I thought nobody cared
You showed me love


'Cause you were my friend
You always told me

And I am still here
Because you were there


So precious, small treasures

A time when truth was innocent
True friendship was all we were after
A place where kids could still be kids


And it hurts but I'm glad

'Cause at least I was blessed
To have you as my friend


'Cause you were there

When no one was
Just when I thought nobody cared
You showed me love


'Cause you were my friend

You always told me
And I am still here
Because you were there


You're my best friend, yes, there are no accidents

God has a plan for everyone
And He brought you in my life
To show me what a good friendship was


'Cause you were there

When no one was
Just when I thought nobody cared
You showed me love


'Cause you were my friend

You always told me
And I am still here
Because you were there


You were there

You were there
You were there


Because you were there

Because you were there
Because you were there





Songwriters

EDMONDS, KENNETH

Published by
Lyrics © Sony/ATV Music Publishing LLC




Saturday, May 10, 2014

Indian Education Goes to Hell... In a Lamborghini

I received a letter from my child’s school stating that the fees will scale up very high this year as the Right To Education (RTE) is now in force. Why? Well, read on...

The Government of India (GOI) enacted a law called “Right to Education”.  This law forces all schools, public and private, to enrol children from economically deprived backgrounds to the school.  The school must provide free education to these children.  This Honorable Supreme Court of India (HSCI) has upheld the constitutional validity of this law.

What a tragedy.

India’s most annoying finance minister, Mr P Chidambaram, introduced an education tax in 2004.  Then he introduced a Higher Secondary education tax in the next year or so.  This tax was collected so that the government to could spend money on education.  The nation had to pay it as a tax.  The GOI then drowned billions of rupees in a badly managed scheme called the Sarva Siksha Abhiyan (SSA).

Then, our finance minister lost all fiscal discipline and set off a loan waiver scheme that destroyed India’s finances. Then, the GOI decided to enlist itself in the Guinness Book of World Records for enacting the most insane law on Planet Earth – Retrospective taxation enacted in 2012 but with effect from 1947.  The Indian Rupee crashed as foreign investment dried out. Then, the UPA realized that they have done to this country what Hitler did to Poland and soon decided that they will need to pursue mindless social policies in order to be in government and be somewhat relevant in the 2014 elections.

Then, they brought in the Right to Education.  Here are the problems:

The GOI has been collecting and education tax for 10 years for the purposes of Education.  The GOI has achieved pittance in comparison to the funds they have collected.  Why should private schools pay for what is clearly a failure on the part of GOI?  Is this incident not just another tax on the people of India?  I mean, the people have already paid an education tax.

The RTE is primarily the responsibility of the schools in India.  Neither the GOI nor the HSCI have enacted any rules that will prevent the Schools from passing on the buck to the other 75% of the students.  Is this fair?  Is this right?  Is this moral?  Well it is not – but it is legal, unfortunately.

Indian education will suffer.  No doubt.  It is tempting to believe that the UPA government created this entire mess.  It is so to an extent.  However, the opposition, which will soon come to further govern and ruin this country, has allowed this to happen as anything to the contrary would have compromised its vote bank.

Indians must work harder and save more money.  Then... send your children abroad for a good quality education. Then let them stay here and have their offspring in that country.  This is the only way out of this maze.


© Nitesh Kotecha

Sunday, December 2, 2012

Brother... Where You Bound?


A simple look at the latest developments in technology will give you an idea about a new paradigm coming up in our work environment – substitute technology and remove the human interface.

Researchers and Developers are creating digital actors – yes animated characters so real that one would not believe that the person you see on the screen is a digital creation.  Let’s face it; the dinosaurs have been looking real ever since Jurassic Park (1993) – it is about time we have digital characters who look every bit human.

Major Motor car companies are now incorporating bio-metric signals in the cars so as to assist the driver.  The car would signal a light representing coffee – meaning the driver’s skin is emitting signs of exhaustion or fatigue.  There are minor sensors in the steering wheel which will detect undesirable jerks in driving.  The cars will then automatically reduce their top speed and switch on side sensors which will assist the driver in ensuring his safety.

Stock brokers developed algorithmic trading and now have software in place for such trading.  The manned operations are discarded and the staff given the pink slip.

What is happening?  The above events are just a sample of how technology will soon substitute routine jobs.  New jobs will be created in place as the demand for such technology increases.  And soon those jobs will be replaced with technology and other new jobs will be created.

The above events summarize the need for people to understand that if they are in to traditional jobs, routine jobs, jobs that represent skills that machines can replicate – they need to re-evaluate the career paths they may have chosen for themselves.   Of course, certain jobs cannot be replaced – technology cannot replace a judge or a lawyer at a court.  Politics will not allow technology to replace a cricket umpire! Or an elected representative for that matter!

The current definitions of a business degree will need to undergo a metamorphosis in the sense that future business leaders will see pressure mounting on them as they meet the challenges of such changes in their business.  Curriculum focused only on the administrative side of businesses will need to be revised to accommodate for developing ability in spotting trends.

© Nitesh Kotecha

Friday, November 9, 2012

Not The End, My Friend


Dedicated to the soft and delicate one(s)


This is not the end, my friend,
Just a turn and not a dead end.

See how life gives its twists and turns?
The Protector hurts and gives heart burns!
The past is past,
It is the future we must fix,
Take the ashes of the heart burn
And rise like the phoenix!
For this is not the end, my friend,
Just a turn and not a dead end.

They say we must pay for all our sins,
For grief and pain caused to our kith and kin,
But it is not your time to go,
You are here to stay,
Rejoice as you will live,
To die another day!
For this is not the end, my friend,
Just a turn and not a dead end.

 © Nitesh Kotecha

Tuesday, July 3, 2012

Old Wine - Computer Education in India



The world is different place now then at the time when I attended school.  Today, social networks and mainstream media are an integral part of all communication that takes place – whether it is Business, Politics, or Social Life.  However, the state department of education has participated just a little.

Teachers, Educators, Parents and Students do understand how learning is changing.   However, I am of the opinion that the involvement is just not so large enough, for our schools in India.

Many students are immersed in social networks and cellular technology outside of school life, and there are not enough adults in their lives who can guide them as to how they can use those connections to learn.  Our access to information, people and ideas is exploding on the net.  However, the education system in India has had this inability to recognize the paradigm shift.  The Education Boards do not fully understand the learning process that are needed for learners who want to share their knowledge and interests. 

The syllabus and course material does attempt to integrate the net and media with the way we learn, BUT, the examinations and their formats, together with state education board politics ensure that such 21st century skills do not amount to much.

My stay in USA had me interacting on the UNiX software by AT&T.  There was no graphic user interface.  Communicating was cumbersome (If you wanted to chat with somebody at a site - say school.com, you had to use for a command a word that was rather inappropriate - “finger xyz@school.com”!!!)

The net is now easy.  However, this ease does not necessarily guarantee education and growth.    The content on the net is much, but essentially that work reflects what we were doing with pen and paper.  The medium of publication has changed and nothing else.

21-century skills are just not possible for schools that are run by archaic school education boards which in turn are controlled by politicians and antediluvian academic dinosaurs.

Here are some thoughts:

- Mathematics is taught beautifully on the internet, free of charge, by the Khan academy (www.khanacademy.org).  I wish I had learnt to tame this monster this way.  Why cannot school children “officially” learn their material from websites such as these?

- I have downloaded dance numbers and videos that explain economic theories!  It is fun!

- School going children and schools must publish their own teaching skills at their own websites.  All school going children must have their own blogs at the school website where they are encouraged not only to share know but to also develop their own content.  The school webmaster can surely monitor the content.

Our ability to easily publish content online will force us to rethink the way we communicate with students, the way we deliver our curriculum and the expectations from the next generation.  Likewise, Teachers and Professors must publish their own content on blogs and encourage participation from students.

- Blogging on school websites allow children to have an audience and thus the children may grow to be more confident.

- Publishing self-content will force the children to have better critical, writing and analytical skills.

It is understood that the above model suggests a school which has funds and has children whose parents can afford the higher expenditure.  This is ok.

© Nitesh Kotecha

Thursday, June 14, 2012

Mathematics By Rote

Believe me, I knew my algebra, the rational (and the irrational) numbers and how to find the hypotenuse!

Nevertheless, herein lays the problem for me at school.  Why on earth was I working so hard at my algebra?  I could never understand for the life of me the purpose of learning the algebraic identities, the rational number sequences etc.  Why does one need to know by rote the properties of rational numbers?

My issue was that Students need the Teacher to explain to them the use of such techniques and bridge the gap between the textbook and the real life.  (AC)^2 = (AB)^2 + (BC)^2  by itself just did not work then, at least not for me.

Our Mathematical questions did have some practical connotation "If a rope of length so and so is laid alongside a wall of length...etc" but believe me; these problems were taught in a mechanical fashion like "If the word problem contains length of a rope or a shadow, use the Pythagoras formula to solve the problem..."

Here is some more.  CBSE pedagogy prescribed the deduction of a "half a mark" for not writing the abbreviation "Ans" at the last line. Likewise for the letters "QED" at the end of the theorems. My teacher would warn us that the Board would deduct such marks and we should be careful about it.

I am sure all here will reflect on this ludicrous emphasis that the Board put, in order to ensure that we have this clerical mentality and penchant for the silliest and the most insignificant details on earth.  It is this attitude that reduced Mathematics to a rote.

A word now, for my Math teachers.  I perfectly understood, later, that it was impossible for them to do what I thought they should be doing.  The number of students, course syllabus, CBSE rules and rituals, etc., binds the teachers.

So, as much as I would like to absolve my teachers, Mathematics and the CBSE still deserve every invective for the way the subject was designed in the 1970s!

Yes, Mathematics still needs to grow up and solve its own problems.  If it needs our assistance, then it better make efforts to convince us that it shares a symbiotic relationship with us students! (He He)

I have a copy of a text book on mathematics for Grade 8 by Orient Blackswan.  I will write for here, word for word, the manner in which it introduces the topic on rational numbers

"There is a need to extend the number system to find answers to problems like 1/3 - 1/2 or 5 divided by 3.  Just as we extended the whole number system to the left of 0 to get negative integers, we now extend the number system to so as to include all fractions.  In this number system, corresponding to every positive fraction to the right of Zero, there is a corresponding negative fraction to the left of Zero.  Thus:

-1/3 corresponds to + 1/3 and so on.  We call this the rational number system."

There is nothing wrong with what is written above except that it is as boring as steamed rice.

The text mentions, "there is a need to extend the number system..." This is an assertion, which can sound unconvincing to Grade 8 students. I am sure somebody can do a better job of making the use of this subject matter more interesting for students.

Now, for a little bit of my experience with mathematics in USA.  My Professor was from Russia.  When he taught us mathematics, he made it clear that he is not interested in "Mathematical Regurgitation" (He actually had another word for "regurgitation" but it would be inappropriate for me to use it on this forum).  He was of the opinion that "Mathematical Regurgitation" is something Asian students love to do.

He insisted that all problems are to be solved to a simple level and not to its simplest level.  This meant that once we had reached an answer (say) 3 + 2, we were advised to stop working on this problem and move ahead to another problem as the answer 3 + 2 is simple enough. There is no need to total it to 5.  And here is the best part - He said that he would deduct a mark for writing 5 as the answer as we would be wasting time and not adding any meaning to what was already simplified as 3 + 2.

This system is markedly different from our Indian counterpart.  In my opinion, the Indian draconian system of marks allocation, for every significant and insignificant step of the mathematical problem, is more an extension of the latent desire for power and domination that many in the education department and government harbor (apart from imparting a petty and clerical mentality on students).

The math class in USA eventually prepared us for a level where we understood the implications of calculus on financial statements, how algebra is a must for a newspaper layout editor etc.

Therefore, the point is that the system in USA put a great deal of emphasis on "knowing the subject at hand and enhancing one's ability to solve one's problems by using mathematics".

I consistently use Calculus for my management accounting and financial reporting work.  However, one can argue that this is all at graduate school level.  However, I am sure, similar simple practical uses can be demonstrated to students in primary and secondary schools so that students clearly understand their own need to study mathematics.

© Nitesh Kotecha

Saturday, November 12, 2011

Creativity In Schools - A Speech To Remember


I am currently reading this book called “Speak” by Laurie Halse Anderson.  This book is about the trials and struggles that a teenage girl faces in a “typical” school in United States.  The book mentions her Art Teachers Welcome Speech on the first day of her art class.

I was bowled over and I thought of sharing this with you all.  Below is the speech, partially modified in terms of sentence structure in order to maintain continuity and flow.

“Welcome to the only class that will teach you how to survive.  Welcome to Art.”

“Soul – this is where you can find your soul, if you dare.  Where you can touch that part of you that you have never dared to look at before.  Do not come here to ask me to show you how to draw a face.  Ask me to help you find the wind.”

“You will graduate knowing how to read and write because you will spend a million hours learning how to read and write.  Why not spend that time on art:  painting, sculpting, charcoal, pastel, oils?  Are words and numbers more important than images?  Who decided this? Does Algebra move you?  Can the plural possessive express the feelings in your heart?  If you don’t learn art now, you will never learn how to breathe!!!”

“Here is an old broken globe that I used to let my daughters use as a football and kick around the studio when it was too wet to play outside.  One day Jenny put her foot right through Texas and United States crumbled in to sea.  

Voila! An idea!  This broken ball could be used to express powerful visions – you could paint a picture of it with people feeling from the hole – the opportunities are endless…”

“ You will each pick a piece of paper out of the globe.”  On the paper, you will find one word – the name of an object.  I hope you will like it.  You will spend the rest of the year learning how to turn that object into a piece of art.  You will sculpt it.  You will sketch it, carve it or use the computer lab for computer aided designs.  But there is a catch – by the end of the year, you must figure out how to make your object say something, express an emotion; speak to every person who looks at it.”

“Welcome to the Journey!”

I have been dreaming and hoping all my life to see Boards and Schools that allow teachers to work with this kind of latitude.  I know there are some that come close to allowing this kind of creative expression – but like I said, there are only some.

The above speech related mostly to art, but I am sure such kind of work can be for social studies, environmental science, and science, including the most agonizing of all subjects – Mathematics.

Here is to wishful thinking.

Copyright© Nitesh Kotecha