the word called recession

yea.. thts the word which is on everyone's lips .. be it a housemaid or ceo . it hits all and none are spared . pocket money is dwindling , lack of business orders , stock indices bowed down , its a gloomy atmosphere and why it wont be ??? loss of job on one hand and the EMI 's on the other , juggling between these two can take a serious toll . graduates are finding it hard to get into corporate life, the once common packages are a distant dream .
i guess during a recession ( which runs in cycles , ie there is cycle between recession and expansion (bullish era $$$) one should get into a small or mid size company rather than a big multi national . work up the ladder , u will get enough time to learn in small companies and climbing the career ladder will be swift . and once the bullish era begins u can make the switch will pay u handsome rewards as ur experience would be like a gold mine .
grabbing a piece of education i mean a higher educational degree would be fantastic , that will act as a boost to ur pay package and will take u on the extra mile where there isnt much competition .
recession isnt tht bad .. if u know to play by its rules .
" we all love the bull , but start caring about the bear i know the bees sting but afterall honey is not free but its the best sweet "

During recession

lots of graduates , lots of companies , big salary tickets big cars and lavish life , well those were the days of the bull run . now its over to the bear , business runs in cycles first there is expansion(wht u call as gdp growth , profit growth in short a bullish era ). then as the economy heats up becoz of inflation (soaring prices of essential commodity) the demands fall as govrnment hikes up the interest rates so people dont spend much and save their money with the banks .
but soon there are hoardes of difficulties , may be because of NPA's ( non performing assets) > it is the beginning of the recession which if detoriates further may lead to depression (which is a rare event.. happened during the year 1929 . and major factor that lead to the second world war ) .
during recession the employee will realize how "loyal " his company is to him .
these are the times when majority of office lovers get their first love what u call as "pink slip " termination letter handed in the name of restructuring , downsizing (its an essential part of business cycle and no politician should make an issue out of downsizing or else the entire company would vanish ).
the major signs of recession are > the stock market crashes heavily , u would see beeline of trucks stranded on the road , no campus placements , joining date postponed for 2 years , you wont get calls from ur mutual fund salesman ,
You wont open the pink pages .
well i feel during recession , esp students .. they should make use of the time and invest time and money into studies , that would pay off during the bull run .
working in a small and medium sized company (midcaps) would be better . as the growth is assured and at a faster rate .
cut down on ur plastic money esp credit cards .... (usa is in ruin because of excessive credit misuse ...)
and last but not the least watch the spanish bull fighting and pray that the bull comes back soon ..

when a blogger meets a dhandho guy

indians are good entrepreneurs , if u doubt look at the steel tycoon who rules the world ... only thing tht stops us from becoming entreprenuer is our sterotype . In our country we are never trained to be an entreprenuer , its always the risk free menatlity tht drives us .. i feel thts the basic difference between us and the israelis .. they dare into the unknown territory(not the gaza ) , into technology , research , medicine and have produced world class business leaders .. if u think in terms of indianess then doesnt jews and gujjus rhyme .. they are in sync .. good risk takers and the pioneer of dhandho investing .. the term dhando isnt an age old saying .. its valid even today and the great pros like warren buffett , sir richard branson and many others use it ..
the ideology of dhandho investing is contradictory to what the B schools teach .. since it propogates the idea of " low risk and high returns " which is possible , but the b schools wont believe so .
Its the classic saying of " head i win and tails i dont loose much " . dig a lil deeper and if u spot " the dhandho investor - by mohnish pabrai " on the strand . pick up and im sure .. u will smile at the marwari , next time u see him .

MOM > ITS HARD TO GET ANYTHING WITHOUT IT !

MOM ...offcourse u require ur mother's blessing for any endeavor .. but the MOM i am speaking is an acronym for Motive , Opportunity and Method . Its essential that u have all three . without motive u wont be bothered , if u have motive u can succeed when u get the opportunity but make sure u know the method or else u will be confused and would bleed time and its the only thing u crave the most in this era . Time .
Any entrepreneur knows this and will have to get going . its valid for everyone as all truth's are . so next time u see ur mom think about the MOM ... and u will appreciate the importance of both .

PASSIVE INCOME ... the secret of financial independence

Economics is about how you realise your dreams and achieve financial freedom. Can you get up in the morning, decide not to go for work and yet generate income? One of my friends in his thirties has already retired from active employment. He travels around Canada, educates teenagers on how to live life, enjoys his time on the beaches and leads a rich life-style. You can do so too, if you can generate what economists call “passive income”. What is it?

Passive income is income generated without you sweating for it! If you invest wisely in stocks or mutual funds, you can expect to generate income periodically. Income from Internet-related businesses is passive. Writing books and receiving royalty is another example of such income.

Why should you generate passive income? If you want to improve your life-style, you need to generate more income. This would mean asking your boss for a raise, which you are unlikely to get.

The alternative is to look for other ways of generating income. With a full-time job, you will have to generate such income without spending much time on it. Setting up streams of passive income is the most effective way to improve life-style.

Robert Kiyosaki, author of the best-selling book Rich Dad Poor Dad advocates buying assets ( assets are things which get money into ur pockets ) like house properties , business and generating positive cash flows. That is, the rent that you earn from the property should be more than the mortgage and other expenses that incur on the property every year.

You should have three-four different streams of income other than your salary. That way, you can achieve your financial freedom faster — just as my friend did at a young age of 35.

This is a way of achieving what u call financial independence. In his book the "cashflow quadrant " he has explained in depth about the various quadrants in which a man works. It shows wht is the major difference between a bussiness man , a ceo , and a doctor.It also highlights the importance of financial intelligence in life , we all get educated at schools & university ,, but very few people are able to get the financial knowledge .. if u think its boring ! have a second look . the robert explains it in his book ,im sure u will change ur mind once u have read it ! go ahead take the plunge .. i am sure u will come out smiling .

so decide ur quadrants . think about it .. and look out for assets . grab them and u can be one of the "rich dad".

THE LAW OF ABUNDANCE >>>BY UNCLE SCROOGE

The Law of Abundance- there is ample money for everyone who knows how to acquire it and keep it. We live in an abundant universe in which there is sufficient money for all who really want it and are willing obey the laws governing its acquisition.

You Can Have All You Want

There is plenty of money available to you. There is no real shortage. You can have virtually all you really want and need. We live in a generous universe and we are surrounded on all sides by blessings and opportunities to acquire all we truly desire. Your attitude, of either abundance or scarcity toward money, will have a major impact on whether you become rich or not.

Make a Decision

The first corollary of the Law of Abundance says that, "People become wealthy because they decide to become wealthy."

They become wealthy because they believe they have the ability to become wealthy. Because they believe this completely, they act accordingly. They consistently take the necessary actions that turn their beliefs into realities. And you can always tell what your beliefs really are by looking at your actions. There is no other way.

The second corollary of this law says: "People are poor because they have not yet decided to become rich."

Examine Your Own Thinking

In the book, The Instant Millionaire, by Mark Fisher, the old millionaire asks the boy who has sought his advice about becoming a millionaire, "Why aren't you rich already?"

This is an important question to ask yourself. However you answer this question will reveal a lot about yourself. Your answers will expose your self-limiting beliefs, your doubts, your fears, your excuses, your rationalizations and your justifications.

Review Your Reasons

Why aren't you rich already? Write down all the reasons you can think of. Go over your answers one by one with someone who knows you well and ask them for their opinion. You may be surprised to find that your reasons are mostly excuses that you have fallen in love with.

Whatever your reasons or excuses, you can now get rid of them. The world is full of hundreds and thousands of people who have had far more difficulties to overcome than you could ever imagine, and they've gone on to be successful anyway. So can you.

Action Exercises

Here are two things you can do to apply this law immediately:

First, imagine that every experience you have ever had with money contained a special lesson that was designed just for you to help you to ultimately become financially independent. What are the most important lessons you have learned so far?

Second, analyze yourself honestly and determine your biggest block, your major self-limiting belief that holds you back from becoming more successful financially. Resolve to act from now on as if this block no longer exists.

Warren Buffett's Advice to Young People Seeking Financial Independence

Warren Buffett has some advice for young people, like college students, who want to remain financially independent. It's not new and its not a surprise, but it is solid counsel on avoiding a very common money pitfall, and worth repeating:

"The biggest suggestion I have is to avoid credit cards. Interest rates are very high on credit cards. Sometimes they are 18 percent. Sometimes they are 20 percent. If I borrowed money at 18 or 20 percent, I’d be broke.... So if I had one piece of advice for young people generally it would be to just avoid credit cards."