My first post from a smartphone

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This is the first time I am writing a blog entry using a smartphone instead of my regular laptop. I want to check if I can actually use my phone to blog occasionally.
There are some limitations to using the phone; at least according too me. I have used qwerty phones as well as touch screens to type messages. I have been told how ancient it is that I feel no comfort with the new qwerty nor with the touch screen. I rarely use sms on my phone because typing the message is cumbersome. Or so I felt.
The other point to understand is that I feel a bit out of place in this twitter generation. How does one express his thoughts in 140 characters. in our generation writing an essay fetched you good grades at schools. You were told to be expressive and articulate, explained how a skilled writer leads his viewer through a trail before putting forward his arguments. Writing transformed through the internet. You could express yourselves no matter how rubbish you really are and you could still attract an audience; even better this audience is anonymous. It doesn't know you and it wouldn't judge you.
All things however change. The attention span of the average internet surfer compares to that of a  Toddler. If you are not going to make your point within a few lines then you have probably lost your audience.
Imagine having to type this on a phone. Certainly a new experience for me. What changes my view on using the phone to type is the beta version of swype. This entire post had been written using swype and if it wasn't for swyping I would not be using my phone for chatting or messaging much less to write a blog entry. You should give it try if you have an android based touch screen.

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Corruption in India

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Corruption has seeped so far into our bureaucracy, our politics and apparently even our judiciary that people are no longer outraged by its mere presence. We in India have passively tolerated corruption for decades now. We are as guilty of corruption as the government we elect, its officials and its machinery. Slip in a note to the officer who randomly stops you on the road to check for a non-existent license, grease the palm of the official at the housing development in charge of approving the blueprints for your dream house, pay hafta to the local constables to allow you to run your shop unmolested. Corruption is a way of life here. I am sure there are many Indians who refuse to be part of the murky dealings, who refuse to pay the corrupt babus and who value and uphold noble principles above expediency but I don’t think I personally know any of them. For the majority of us, there will be at least one instance of our life where we have bribed someone to achieve our ends.
We are not outraged that we had to bribe the cop 200 rupees to let us go scot free for driving without a helmet yet we are mortified to note the irregularities of the telecom department are in the tune of 1.76 lakh crore (Has anyone counted the number of zeros in that amount? I didn’t even try ). The principle remains the same, no matter if it is your local policeman who benefited or someone from the “dirty” world of politics. So what offended us? The corruption? But we are already a contributing party to it. Or is it the obscenity of the amount that the exchequer reportedly lost as a result of said irregularities? Did we honestly expect our politicians to be not corrupt and be upright citizens? Don’t you think there is honestly something wrong with our perceptions? It’s a bit two-faced and smacks of hypocrisy if you ask me. Corruption is OK it is 200 rupees but not OK if it is 200 crore. Surely one is as wrong as the other. Why should the degree of wrongness make one more wrong than the other.
Maybe we should set a bar of acceptable bribes. Peg down a number that shalt not be exceeded. X rupees is OK but if it is more than X than our moral compass kicks and you shall be held accountable. The rate of inflation should also be taken into account. (We need to think of the poor babus, if the bribes don’t move along with the inflation then the bribe will continue to mean less every year)
What’s amazing is that corruption is universally acknowledged as a malaise but happily practiced by all and sundry. So what’s the solution? I never thought I would see a solution during my lifetime but there is always hope.
The drafting of the Lok Pal bill would have escaped the notice of nobody in India. If you manage to spend a few minutes with your local newspaper or your favorite news channel, then it is not possible that you would not have heard about the Lok Pal bill, Anna Hazare, the civil society movement, the attempted heist of attention by Baba Ramdev, an increasingly defensive central government and a gleeful opposition. It can be highly entertaining, much more than the usual run of the mill predicable TV shows that adorn our living rooms.
As laudable as the civil society movement is it raises as interesting question. Can a non-elected group of people arm twist an elected government into toeing their line? As absurd as it sounds it essentially boils down to a government elected for the people and by the people being forced to bend its will by a civil movement that ironically has the same public’s sympathies if somewhat indifferent collective support. Strip all the hoopla out and at its heart you will find a government that has been elected on issues that corruption did not dominate. It says much of the government’s public image if corruption has overshadowed all the other issues on which it was voted back to power consecutively. It says so much of the public’s priority of the issue over the UPA’s blanket of Common Minimum program which excludes all issues that various members of the UPA might find objectionable and only includes that which is unanimous among all parties; which is a great way of saying we promised you so many things but we have consensus over nothing and therefore lets brand it the common minimum program, bare essentials and nothing else. But then I digress from the original topic.
I personally find blackmailing an elected government with a fast onto dead highly disturbing. Is this the only recourse left to us to improve the system. Do we resort to such means every time we need to achieve fundamental and essential things? I also find the movement somewhat aggressive. I do not know if the times require such aggression from Anna Hazare and his team; I don’t know if the goals can be achieved in more amicable ways. I know that all participants in this saga are mudslinging and the real issue is making no progress. I find it fascinating that the main opposition to the UPA has criticized the government for the handling of the situation, slamming it for the Ram Leela incident and generally taking every opportunity for pot shots. They have said so much to gain political mileage but I am yet to know where the opposition stands regarding the bill itself. What do they think about the PM, the ministers, the MPs, the MLAs, the judges, the entire bureaucracy being held accountable? There has been not a single word from them. The closest I heard is that they will react when the draft comes out. Why not take and stand and express their view? I am sure the nation will be interested to know. The fact of the matter is that if the UPA keeps the MPs and the MLAs out of the purview of the Lok Pal then you can bet the farm that the opposition will support the bill, either directly, or indirectly, by being absent. The best and rosy scenario for the opposition is the walk out of the assembly knowing fully well that the government has enough numbers to pass the bill (and secretly glad for it) while at the same time show to the nation how much they are not like the parties that sum up the government and their alleged corrupt ways. Wink, wink, we are actually on your side.
What political compulsions forces the government to oppose including the PM and other high ranking members of the political strata under the purview of the Lok Pal? Think about it for a minute. Our honorable Prime Minister has nothing to hide. By all accounts he is an honest man. Even his worst critics will concede that much. He would not be threatened if his office came under the purview of LP? Then why oppose? Media reports say the opposition is because it creates a super-authority over and above a structure that’s already in place. Imagine when the most powerful man in the country has to be answerable to an independent body. What if such accountability is misused for political gains? While that might be true enough surely further checks can be placed in the draft for cabinet consideration?
I personally think the problem is different; the political opposition to such a bill is more blatant and obvious. We are asking the men and women who plunder our country with impunity to impose laws that will greatly restrict their ability to plunder us. It will be such a shame if the parliament passes a diluted version of the Lok Pal bill which will result in a toothless organization. The next few months will go a long way in determining if we as a nation can really become intolerant of corruption and if those found corrupt can be held accountable.
I am hopeful. I watch the news in the next few months with expectations. While I don’t want a draconian organization, I am sure I would like a toothless one much lesser.

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Lost – The show comes to an end

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I have been a big fan of Lost every since the first season. 6 years back one of my friends told me not to miss the pilot episode of a new show. Reason? According to her, it was the most expensive pilot ever made. Lost was a J.J Abrams brainchild. He was responsible for the pilot episodes and that was good enough for us. I watched the pilot episode and I was hooked like so many others. My initial impression after the pilot was that Lost would be similar to the reality shows like the Survivor series. A bunch of people left on the island to fend for themselves, with no rescue in sight. Then the questions started. Each episode seemed to throw up a new question.
Over the course of 6 years the questions just piled on and on endlessly with no answer in sight. At the end of each season I couldn't wait for the next one to start. I would imagine the final season unraveling all the mysteries and leaving me spellbound. I had such a long list of questions. I don't think I remember most of them anymore. What's a polar bear doing on that island? What's so special about Walter? What is the significance of those numbers? How do they drive a person crazy, make you win lotteries? How does a man with permanent disabilities walk on the island? What makes it so special? It even cures you of cancer and in the case of Korean women it makes you pregnant when you are not capable of it. However it is just not possible for everyone to conceive a child on it. Both mother and child are doomed. And then there is the Smoke. We don't know what it is. It looked like it was the island's protector. It was delivering judgment on the unworthy. Or was it? It came out of nowhere and then disappeared into oblivion. You could time travel on the island, you could make the island disappear, and you could even get yourself magically transported out of wilderness by turning a cartwheel. What about the statue with four toes? Anyone? What is it with the island? Why is it so special? How does the Smoke threaten mankind if it is ever escape the island? All it ever wanted was to leave the damn place. The consequences of it leaving the island were conspicuous of their absence. What about Desmond? What made him so special? He could at one time foresee people's death and tried to prevent Charlie from dying. That aspect of his ability was completely ignored in the later stages. Instead his immunity to the electro-magnetism came to the fore.
And then there were The Others. Possibly the most disappointing answer to the torment of The Others was that they were doing it so that they could force the hand of a spinal surgeon to operate on their leader. It never occurred to them that they could simply ask the guy and then send the surgeon and his people back home in the submarine. They had to kidnap and they had to kill.
And then there were The Other Others. The people we were introduced in the final season. They had been living in the temple all long. We just didn't spot them in 5 years. The Japanese guy could keep the Smoke out of the temple. How? Why? Well you are not allowed to ask that question. The people of the temple can also cure you of fatal wounds. Linus and Sayid know a thing or two about it. The rest of us are clueless.
Mid way through the 6^th season I was convinced that there would be no meaningful ending to this show. There would be no awesome revelations to marvel at. There would be no significant answers. For starters there were too many questions to be answered. The MO of the show was always to answer questions by raising more questions. It kept the show's faithful viewers on tender hooks. It made sure its fan base stayed loyal till the very end. It didn't make any sense to change that style. Plus now that the show had ended, the questions it posed will remain forever unanswered and forever debated. It's virtually guaranteed that the show will go down in living memory as one of the most talked about.
As an armchair critic who watched the show and had the usual clutch of questions I reserve the right to my own judgment, which perversely enough is what the creators expect from the show's audience. They had it planned all along – I don't buy that. The writers were clueless about the direction the show will take. Its mythical ending was not what they had in mind when they started the show. They did their best to tie up together so it looks like it. Jack closing his eyes surrounded by bamboos, to end like it began. And to remind us about the two skeletons we found in season one. The direction of the show eventually took did not form until the 3^rd and the 4^th season. I don't really have a problem with it. The problem is with the claim that the writers knew what they were doing all along. That's insulting the audience that's watched the show over the years.
Now that we don't have an intellectually stimulating ending, no wonderfully explained answers, I am so glad the show has finally ended. Ever since the pilot episode, I have waited impatiently for the new episode to be telecast. When the season ended, I kept on eye on TV.com, visiting it once in a while to determine the date when the new season will begin. Once I knew the date, I would have it etched in memory so I don't forget to miss the start of the new season. No need for calendar reminders for this one folks, it was so intriguing that I didn't need a reminder. I just needed to know the date when the new season would start and I would faithfully be waiting for it on the given day. Now I can finally let go. I can move on. I can promise myself not to get so invested in any other show. And I don't have to wait impatiently anymore for a new dose of Lost. In a way I identify with the characters who realize they are dead and they congregate together so that they can leave – as Jack's father so aptly put it – move on. Finally!!!
Credit should of course go where it is due. I enjoyed the show even if I was not completely satisfied with the final season. It kept me interested since its inception. And many others like me. A question for the Lost fans out there. Knowing how the show pans out, would you still have watched it when it first started out. I would. Because the narrative, the parallel stories, the intrigue, the mystery, the character centric episodes were all unique TV viewing experiences. Even discounting the background story, some of the individual episodes were brilliant. Like the Long con, or the Science Vs Faith, or the background on Richard Alpert, or when they introduce Jacob and MIB, with Jacob mysteriously stating 'But it only ends once, anything that happens before that, is just progress'. Remember the surprise when they introduced the tail-end survivors and the impressive Eko. I was so disappointed when Smoke killed Eko and I will never find out why the Smoke killed him and so many others and yet spared many that lived outside the security of the fences erected by the Dharma chaps. BTW – How did the Dharma people know that those electric fences would keep the Smoke out? I think reminiscing about old episodes will just raise more questions, it would be best to say no more. Like all shows, this one must also come to an end. Like most popular shows, this one will also have a dissatisfied ending. Perhaps a tribute to the show, because it lefts its viewers wanting more.

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Marriage by barter

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I was reading the Times of India, when I came across a rather curious report. Apparently the Haryana Police stopped the wedding of a 15 year old minor. In a country that contributes to over 40% of the child marriages across the world, that in itself is not newsworthy. Minors do get married in rural towns and where police is informed they step in and make sure the rituals do not take place. Parents are suitably warned by the police, educated and counselled by social activists and life goes on.

The story of this minor was more complex. She was getting married on the same day as her maternal uncle. Her uncle was getting married to her prospective groom's sister. Now that the police had stopped her marriage, they had affectively stopped both weddings. A suitable bride (i.e. not someone below the age of 18) had to be found as her replacement for both the marriages to take place. The problem arose because of acute shortage of women. The uncle could only get married if he could in turn ensure the marriage of his future brother-in-law. Easy enough to solve if you have a niece, so what if she is only 15 years old?

As per the TOI,
"Haryana is reduced to this because of its deeply skewed sex ratio. A state government report admits there are just 822 females for every 1000 men in the 0 to 6 years category. The ratio falls even further in the literate population: 618 females to 1000 males. In some villages in the state, notably Malerna and Duleypur, the sex ratio at birth is 370 and 400 females per 1,000 males respectively".

There are families in this part of rural India that end up using the ancient barter system to ensure that their children don't remain unmarried. A girl and a boy from each side solves this problem nicely. The problem is when they don't have girls of marriageable age, then they make do with the minors in their family.

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No Entry Load on Indian Mutual Funds

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There is some good news for the small time investors in India. SEBI has abolished entry loads in Mutual Funds. Previously, any investment made through a distributor attracted an entry load of 2.25% which was paid as commission to the distributor. If the investment was made directly to the Mutual Fund, it attracted no entry load. By abolishing entry loads, SEBI has acted in favour of small time investors like us because it means we will now be able make our investments at reduced cost.

My understanding is also that distributors and investors can negotiate the amount of commission to be paid for an investment. This commission can be paid separately and directly and does not have to come out the original investment. This will allow the client to evaluate the service provided by the broker. While some of these brokers provide enough information which allows the investors to make informed decisions, others simply collect cheques, fill up forms. Why should both types of brokers make the same kind of commission? The obvious concern from the distributors and brokers is that it is a loss of income for them. The investors will now in many cases not pay any commission or pay a small negotiated amount. As a small time investor it is not really a concern that I share. From my perspective, it's a great move because I get to benefit from it. If I approach a broker from a piece of advice or a recommendation, then it must not be a particular product just because it will give the broker maximum benefits. The recommended product must be good for my investment needs and not the profits the broker makes out of it.

Brokers have also been guilty of 'portfolio churning'. I once met a guy who under advisement of his broker invested in over 40 different mutual funds over a period of 3 years. Every time there was a new fund offer, his broker would call him and convince him to make an investment in the latest schemes. 3 years later this guy had a heavily fragmented and over diversified portfolio while the broker continued to make merry. If he didn't have money to invest, then the broker would advise him to get rid of an underperforming fund (with 40 to choose from, there were plenty of them). Then this guy would sell off an underperforming fund and invest into another new fund. To say that this guy made a loss on his investments because of the greed of his broker is an understatement. It would be interesting to see how much this guy would have actually stood to gain had he invested in the same money under proper advice. This change of policy by SEBI should put to rest such unscrupulous acts by brokers. It ensures that the best chance for the broker to continue to make money is if his clients stay invested in the fund. This way the broker will continue to get a trailing commission from the fund.

I have another concern. Now that mutual funds will not get as much commission for the broker, what will he resort to? There are other investment products in the market that are not regulated by SEBI and which fetch much better commission rates, sometimes ridiculously high. These products are insurance related investments which the financial industry recognizes as ULIPS. ULIPS are essentially investment vehicles that provide insurance as well and equity investments, all bundled into one product. In India, they are extremely expensive and also fetch good money to the broker who convinces his clients to invest in them. ULIPs being part of the insurance industry are regulated by IRDA. SEBI has historically been more investment friendly than IRDA and that doesn't look like it's going to change anytime soon. While SEBI's move may well be a boon for the informed and educated retail investors, it may also drive gullible investors into the arms of gleeful insurance companies, who are more than happy to extract high commission rates and pay some of it to the brokers.

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