Sunday, March 13, 2011

POWER OF INSPIRATION


Inaugural Speech for the new batch at the Symbiosis BBA program, Pune 23rd June, 2008, By Chetan Bhagat


Good Morning everyone and thank you for giving me this chance to speak to you. This day is about you. You, who have come to this college, leaving the comfort of your homes (or in some cases discomfort), to become something in your life. I am sure you are excited. There are few days in human life when one is truly elated. The first day in college is one of them. When you were getting ready today, you felt a tingling in your stomach. What would the auditorium be like, what would the teachers be like, who are my new classmates - there is so much to be curious about. I call this excitement, the spark within you that makes you feel truly alive today. Today I am going to talk about keeping the spark shining. Or to put it another way, how to be happy most, if not all the time.

Where do these sparks start? I think we are born with them. My 3-year old twin boys have a million sparks. A little Spiderman toy can make them jump on the bed. They get thrills from creaky swings in the park. A story from daddy gets them excited. They do a daily countdown for birthday party – several months in advance – just for the day they will cut their own birthday cake.

I see students like you, and I still see some sparks. But when I see older people, the spark is difficult to find. That means as we age, the spark fades. People whose spark has faded too much are dull, dejected, aimless and bitter. Remember Kareena in the first half of Jab We Met vs the second half? That is what happens when the spark is lost. So how to save the spark?
Imagine the spark to be a lamp's flame. The first aspect is nurturing - to give your spark the fuel, continuously. The second is to guard against storms.
To nurture, always have goals. It is human nature to strive, improve and achieve full potential. In fact, that is success. It is what is possible for you. It isn't any external measure - a certain cost to company pay package, a particular car or house.

Most of us are from middle class families. To us, having material landmarks is success and rightly so. When you have grown up where money constraints force everyday choices, financial freedom is a big achievement. But it isn't the purpose of life. If that was the case, Mr. Ambani would not show up for work. Shah Rukh Khan would stay at home and not dance anymore. Steve Jobs won't be working hard to make a better iPhone, as he sold Pixar for billions of dollars already. Why do they do it? What makes them come to work everyday? They do it because it makes them happy. They do it because it makes them feel alive. Just getting better from current levels feels good. If you study hard, you can improve your rank. If you make an effort to interact with people, you will do better in interviews. If you practice, your cricket will get better. You may also know that you cannot become Tendulkar, yet. But you can get to the next level. Striving for that next level is important.
Nature designed with a random set of genes and circumstances in which we were born. To be happy, we have to accept it and make the most of nature's design. Are you? Goals will help you do that.
I must add, don't just have career or academic goals. Set goals to give you a balanced, successful life. I use the word balanced before successful. Balanced means ensuring your health, relationships, mental peace are all in good order.

There isno point of getting a promotion on the day of your breakup. There is no fun in driving a car if your back hurts. Shopping is not enjoyable if your mind is full of tensions.
You must have read some quotes - Life is a tough race, it is a marathon or whatever. No, from what I have seen so far, life is one of those races in nursery school, where you have to run with a marble in a spoon kept in your mouth. If the marble falls, there is no point coming first. Same with life, where health and relationships are the marble. Your striving is only worth it if there is harmony in your life. Else, you may achieve the success, but this spark, this feeling of being excited and alive, will start to die.
One last thing about nurturing the spark - don't take life seriously. One of my yoga teachers used to make students laugh during classes. One student asked him if these jokes would take away something from the yoga practice. The teacher said - don't be serious, be sincere. This quote has defined my work ever since. Whether its my writing, my job, my relationships or any of my goals. I get thousands of opinions on my writing everyday. There is heaps of praise, there is intense criticism. If I take it all seriously, how will I write? Or rather, how will I live? Life is not to be taken seriously, as we are really temporary here. We are like a pre-paid card with limited validity. If we are lucky, we may last another 50 years. And 50 years is just 2,500 weekends. Do we really need to get so worked up? It's ok, bunk a few classes, goof up a few interviews, fall in love. We are people, not programmed devices.
I've told you three things - reasonable goals, balance and not taking it too seriously that will nurture the spark. However, there are four storms in life that will threaten to completely put out the flame. These must be guarded against. These are disappointment, frustration, unfairness and loneliness of purpose.

Disappointment will come when your effort does not give you the expected return. If things don't go as planned or if you face failure. Failure is extremely difficult to handle, but those that do come out stronger. What did this failure teach me? is the question you will need to ask. You will feel miserable. You will want to quit, like I wanted to when nine publishers rejected my first book. Some IITians kill themselves over low grades – how silly is that? But that is how much failure can hurt you. But it's life. If challenges could always be overcome, they would cease to be a challenge. And remember - if you are failing at something, that means you are at your limit or potential. And that's where you want to be.
Disappointment's cousin is frustration, the second storm. Have you ever been frustrated? It happens when things are stuck. This is especially relevant in India. From traffic jams to getting that job you deserve, sometimes things take so long that you don't know if you chose the right goal. After books, I set the goal of writing for Bollywood, as I thought they needed writers. I am called extremely lucky, but it took me five years to get close to a release. Frustration saps excitement, and turns your initial energy into something negative, making you a bitter person. How did I deal with it? A realistic assessment of the time involved – movies take a long time to make even though they are watched quickly, seeking a certain enjoyment in the process rather than the end result – at least I was learning how to write scripts, having a side plan – I had my third book to write and even something as simple as pleasurable distractions in your life - friends, food, travel can help you overcome it. Remember, nothing is to be taken seriously. Frustration is a sign somewhere, you took it too seriously.
Unfairness - this is hardest to deal with, but unfortunately that is how our country works. People with connections, rich dads, beautiful faces, pedigree find it easier to make it – not just in Bollywood, but everywhere. And sometimes it is just plain luck. There are so few opportunities in India, so many stars need to be aligned for you to make it happen. Merit and hard work is not always linked to achievement in the short term, but the long term correlation is high, and ultimately things do work out. But realize, there will be some people luckier than you. In fact, to have an opportunity to go to college and understand this speech in English means you are pretty damm lucky by Indian standards. Let's be grateful for what we have and get the strength to accept what we don't. I have so much love from my readers that other writers cannot even imagine it. However, I don't get literary praise. It's ok. I don't look like Aishwarya Rai, but I have two boys who I think are more beautiful than her. It's ok. Don't let unfairness kill your spark.

Finally, the last point that can kill your spark is isolation. As you grow older you will realize you are unique. When you are little, all kids want Ice cream and Spiderman. As you grow older to college, you still are a lot like your friends. But ten years later and you realize you are unique. What you want, what you believe in, what makes you feel, may be different from even the people closest to you. This can create conflict as your goals may not match with others. . And you may drop some of them. Basketball captains in college invariably stop playing basketball by the time they have their second child. They give up something that meant so much to them. They do it for their family. But in doing that, the spark dies. Never, ever make that compromise. Love yourself first, and then others.
There you go. I've told you the four thunderstorms - disappointment, frustration, unfairness and isolation. You cannot avoid them, as like the monsoon they will come into your life at regular intervals. You just need to keep the raincoat handy to not let the spark die.
I welcome you again to the most wonderful years of your life. If someone gave me the choice to go back in time, I will surely choose college. But I also hope that ten years later as well, your eyes will shine the same way as they do today. That you will Keep the Spark alive, not only through college, but through the next 2,500 weekends. And I hope not just you, but my whole country will keep that spark alive, as we really need it now more than any moment in history. And there is something cool about saying - I come from the land of a billion sparks.
Thank You!

This is the text of the Commencement address by Steve Jobs, CEO of Apple Computer and of Pixar Animation Studios, delivered on June 12, 2005.

Stanford Report, June 14, 2005

  I am honored to be with you today at your commencement from one of the finest universities in the world. I never graduated from college. Truth be told,this is the closest I've ever gotten to a college graduation. Today I want to tell you three stories from my life. That's it. No big deal. Just three stories.

 The first story is about connecting the dots.

 I dropped out of Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?

It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl. So my parents, who were on a waiting list, got a call in the middle of the night asking: "We have an unexpected baby boy;do you want him?" They said: "Of course." My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.

 And 17 years later I did go to college. But I naively chose a college that
 was almost as expensive as Stanford, and all of my working-class parents'
 savings were being spent on my college tuition. After six months, I
 couldn't see the value in it. I had no idea what I wanted to do with my
 life and no idea how college was going to help me figure it out. And here
 I was spending all of the money my parents had saved their entire life. So
 I decided to drop out and trust that it would all work out OK. It was
 pretty scary at the time, but looking back it was one of the best
decisions I ever made. The minute I dropped out I could stop taking the
 required classes that didn't interest me, and begin dropping in on the
ones that looked interesting.

 It wasn't all romantic. I didn't have a dorm room, so I slept on the floor
 in friends' rooms, I returned coke bottles for the 5¢ deposits to buy food
 with, and I would walk the 7 miles across town every Sunday night to get
 one good meal a week at the Hare Krishna temple. I loved it. And much of
what I stumbled into by following my curiosity and intuition turned out to
be priceless later on. Let me give you one example:

 Reed College at that time offered perhaps the best calligraphy instruction
 in the country. Throughout the campus every poster, every label on every
 drawer, was beautifully hand calligraphed. Because I had dropped out and
 didn't have to take the normal classes, I decided to take a calligraphy
 class to learn how to do this. I learned about serif and san serif
 typefaces, about varying the amount of space between different letter
combinations, about what makes great typography great. It was beautiful,
historical, artistically subtle in a way that science can't capture, and I
found it fascinating.

 None of this had even a hope of any practical application in my life. But
 ten years later, when we were designing the first Macintosh computer, it
 all came back to me. And we designed it all into the Mac. It was the first
 computer with beautiful typography. If I had never dropped in on that
 single course in college, the Mac would have never had multiple typefaces
or proportionally spaced fonts. And since Windows just copied the Mac, its
 likely that no personal computer would have them. If I had never dropped
 out, I would have never dropped in on this calligraphy class, and personal
 computers might not have the wonderful typography that they do. Of course
 it was impossible to connect the dots looking forward when I was in
 college. But it was very, very clear looking backwards ten years later.

Again, you can't connect the dots looking forward; you can only connect
 them looking backwards. So you have to trust that the dots will somehow
 connect in your future. You have to trust in something - your gut,
 destiny, life, karma, whatever. This approach has never let me down, and
 it has made all the difference in my life.

 My second story is about love and loss.

 I was lucky - I found what I loved to do early in life. Woz and I started
Apple in my parents garage when I was 20. We worked hard, and in 10 years
 Apple had grown from just the two of us in a garage into a $2 billion
 company with over 4000 employees. We had just released our finest creation
 - the Macintosh - a year earlier, and I had just turned 30. And then I got
fired. How can you get fired from a company you started? Well, as Apple
 grew we hired someone who I thought was very talented to run the company
 with me, and for the first year or so things went well. But then our
 visions of the future began to diverge and eventually we had a falling
 out. When we did, our Board of Directors sided with him. So at 30 I was
 out. And very publicly out. What had been the focus of my entire adult
 life was gone, and it was devastating.

I really didn't know what to do for a few months. I felt that I had let
 the previous generation of entrepreneurs down - that I had dropped the
 baton as it was being passed to me. I met with David Packard and Bob Noyce
 and tried to apologize for screwing up so badly. I was a very public
 failure, and I even thought about running away from the valley. But
something slowly began to dawn on me - I still loved what I did. The turn
 of events at Apple had not changed that one bit. I had been rejected, but
 I was still in love. And so I decided to start over.

 I didn't see it then, but it turned out that getting fired from Apple was
the best thing that could have ever happened to me. The heaviness of being
 successful was replaced by the lightness of being a beginner again, less
 sure about everything. It freed me to enter one of the most creative
 periods of my life.

 During the next five years, I started a company named NeXT, another
 company named Pixar, and fell in love with an amazing woman who would
 become my wife. Pixar went on to create the worlds first computer animated
 feature film, Toy Story, and is now the most successful animation studio
 in the world. In a remarkable turn of events, Apple bought NeXT, I retuned
 to Apple, and the technology we developed at NeXT is at the heart of
 Apple's current renaissance. And Laurene and I have a wonderful family
 together.

 I'm pretty sure none of this would have happened if I hadn't been fired
 from Apple. It was awful tasting medicine, but I guess the patient needed
 it. Sometimes life hits you in the head with a brick. Don't lose faith.
I'm convinced that the only thing that kept me going was that I loved what
 I did. You've got to find what you love. And that is as true for your work
 as it is for your lovers. Your work is going to fill a large part of your
life, and the only way to be truly satisfied is to do what you believe is
 great work. And the only way to do great work is to love what you do. If
 you haven't found it yet, keep looking. Don't settle. As with all matters
 of the heart, you'll know when you find it. And, like any great
 relationship, it just gets better and better as the years roll on. So keep
looking until you find it. Don't settle.

 My third story is about death.

 When I was 17, I read a quote that went something like: "If you live each
 day as if it was your last, someday you'll most certainly be right." It
 made an impression on me, and since then, for the past 33 years, I have
 looked in the mirror every morning and asked myself: "If today were the
 last day of my life, would I want to do what I am about to do today?" And
 whenever the answer has been "No" for too many days in a row, I know I
need to change something.

 Remembering that I'll be dead soon is the most important tool I've ever
 encountered to help me make the big choices in life. Because almost
 everything - all external expectations, all pride, all fear of
embarrassment or failure - these things just fall away in the face of
death, leaving only what is truly important. Remembering that you are
going to die is the best way I know to avoid the trap of thinking you have
 something to lose. You are already naked. There is no reason not to follow
 your heart.

 About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the
 morning, and it clearly showed a tumor on my pancreas. I didn't even know
 what a pancreas was. The doctors told me this was almost certainly a type
 of cancer that is incurable, and that I should expect to live no longer
 than three to six months. My doctor advised me to go home and get my
 affairs in order, which is doctor's code for prepare to die. It means to
 try to tell your kids everything you thought you'd have the next 10 years
to tell them in just a few months. It means to make sure everything is
 buttoned up so that it will be as easy as possible for your family. It
 means to say your goodbyes.

 I lived with that diagnosis all day. Later that evening I had a biopsy,
 where they stuck an endoscope down my throat, through my stomach and into
my intestines, put a needle into my pancreas and got a few cells from the
tumor. I was sedated, but my wife, who was there, told me that when they
 viewed the cells under a microscope the doctors started crying because it
 turned out to be a very rare form of pancreatic cancer that is curable
 with surgery. I had the surgery and I'm fine now.

 This was the closest I've been to facing death, and I hope its the closest
 I get for a few more decades. Having lived through it, I can now say this
 to you with a bit more certainty than when death was a useful but purely
 intellectual concept:

 No one wants to die. Even people who want to go to heaven don't want to
 die to get there. And yet death is the destination we all share. No one
 has ever escaped it. And that is as it should be, because Death is very
likely the single best invention of Life. It is Life's change agent. It
clears out the old to make way for the new. Right now the new is you, but
 someday not too long from now, you will gradually become the old and be
 cleared away. Sorry to be so dramatic, but it is quite true.

 Your time is limited, so don't waste it living someone else's life. Don't
 be trapped by dogma - which is living with the results of other people's
 thinking. Don't let the noise of other's opinions drown out your own inner
 voice. And most important, have the courage to follow your heart and
 intuition. They somehow already know what you truly want to become.
 Everything else is secondary.

 When I was young, there was an amazing publication called The Whole Earth
 Catalog, which was one of the bibles of my generation. It was created by a
 fellow named Stewart Brand not far from here in Menlo Park, and he brought
it to life with his poetic touch. This was in the late 1960's, before
 personal computers and desktop publishing, so it was all made with
 typewriters, scissors, and polaroid cameras. It was sort of like Google in
 paperback form, 35 years before Google came along: it was idealistic, and
 overflowing with neat tools and great notions.

 Stewart and his team put out several issues of The Whole Earth Catalog,
 and then when it had run its course, they put out a final issue. It was
the mid-1970s, and I was your age. On the back cover of their final issue
 was a photograph of an early morning country road, the kind you might find
 yourself hitchhiking on if you were so adventurous. Beneath it were the
 words: "Stay Hungry. Stay Foolish." It was their farewell message as they
 signed off. Stay Hungry. Stay Foolish. And I have always wished that for
 myself. And now, as you graduate to begin anew, I wish that for you.

Stay Hungry. Stay Foolish.

Thank you all very much.

Suvendu  Roy of Titan Industries shares his inspirational encounter with a rickshaw driver in Mumbai


Last Sunday, my wife, kid and I had to travel to Andheri from Bandra. When I waved at a passing auto rickshaw, little did I expect that this ride would be any different.


As we set off, my eyes fell on a few magazines (kept in an aircraft style pouch) behind the driver's back rest. I looked in front and there was a small TV. The driver had put on the Doordarshan channel. My wife and I looked at each other with disbelief and amusement. In front of me was a small first-aid box with cotton, dettol and some medicines. This was enough for me to realise that I was in a special vehicle. Then I looked around again, and discovered more -there was a radio, fire extinguisher, wall clock, calendar, and pictures and symbols of all faiths - from Islam and Christianity to Buddhism, Hinduism and Sikhism. There were also pictures of the heroes of 26/11- Kamte, Salaskar, Karkare and Unnikrishnan. I realised that not only my vehicle, but also my driver was special.

I started chatting with him and the initial sense of ridicule and disbelief gradually diminished. I gathered that he had been driving an auto rickshaw for the past 8-9 years; he had lost his job when his employer's plastic company was shut down. He had two school-going children, and he drove from 8 in the morning till 10 at night. No break unless he was unwell. "Sahab, ghar mein baith ke TV dekh kar kya faida? Do paisa income karega toh future mein kaam aayega." (Sir, what's the use of simply sitting at home and watching TV? If I earn some income, then it will be useful in the future.)

We realised that we had come across a man who represents Mumbai - the spirit of work, the spirit of travel and the spirit of excelling in life. I asked him whether he does anything else as I figured that he did not have too much spare time. He said that he goes to an old age home for women in Andheri once a week or whenever he has some extra income, where he donates tooth brushes, toothpastes, soap, hair oil, and other items of daily use. He pointed out to a painted message below the meter that read: "25 per cent discount on metered fare for the handicapped. Free rides for blind passengers up to Rs50". He also said that his auto was mentioned on Radio Mirchi twice by the station RJs. The Marathi press in Mumbai know about him and have written a few pieces on him and his vehicle.

My wife and I were struck with awe. The man was a HERO! A hero who deserves all our respect. I know that my son, once he grows up, will realise that we have met a genuine hero. He has put questions to me such as why should we help other people? I will try to keep this incident alive in his memory.

Our journey came to an end; 45 minutes of a lesson in humility, selflessness and of a hero-worshipping Mumbai - my temporary home. We disembarked, and all I could do was to pay him a tip that would hardly cover a free ride for a blind man.

I hope, one day, you too have a chance to meet Mr Sandeep Bachhe in his auto rickshaw - MH-02-Z-8508.

Saturday, March 12, 2011

RULE OF STOCK MARKET

WE HAVE SEEN MAJOR UPSET IN THE RECENT MONTHS, AFTER DECIDING TO WORK ON TRADING:

MISTAKES: NOW REALISED

- TRADING IS A HIGHLY SPECULATIVE WAY OF MAKING MONEY AND CHANCES OF GAINING IS VERY LESS..
- PUTTING SMALL MONEY AND GAINING BIG IS BETTER THAN PUTTING BIG MONEY AND TAKING HIGH RISK..
- NEVER TO PUT HARD EARNED MONEY OR LOAN MONEY INTO STOCK TRADING..
- WAIT FOR A BIG PROFIT WITH SMALL MONEY WHICH WILL GIVE US MORE PROFITS AND SATISFACTION AND LESS RISK AND TROUBLES.
- SHOULD NOT HAVE ANY PRESSURE TO PERFORM..

 PLANS:
 - Selecting the right stock and at the right time will only give us the required profits.. We have seen lot and lots of opportunities missing and opportunity will always come for the person who is ready.  we just want few such opportunity...
- Need to buy the stock option for a cheap price and wait for  few days by taking a small calculated risk..
- Never to put more money into trading..
- Invest in quality stocks for long term (more than 15% per yr is sufficent)
- Identify the stocks option and nifty option which u get for cheap and is valuable after some days.. sell 50% after it doubles..so that u r safe.. in sept 5700 call was at 2rs jumped 350rs in the end..
- Following charts have helped all and will continue to do so without wasting much time..
- More study on stock specific and news oriented stocks will be understood and executed..


Follow these: 

1. Simplicity - have a simple, well defined way to generate trading ideas. Have a simple approach towards the market. You can’t take everything into account when you try to make an educated decision. Filter the noise and focus on several key market components. For me, they are relative strength and earnings’ growth.

2. Common sense - create a trading system that is designed on the basis of proven trading anomaly. For example, trend following in different time frames.

3. Flexibility - be open to opportunities in both directions of the market. Be ready to get long and short.

4. Selectivity - chose only trades with the best risk/reward ratio; stocks with the best set ups; it doesn’t make sense to risk a dollar to make a dollar.

5. Don’t overtrade - two or three well planned trades in a week (month) might be more than enough to achieve your income goals. Patiently wait for the right set up to form and to offer good risk/reward ratio.



STOCK MARKET HERO OR ZERO

I know that readers are in delima.What to do ?Whether to average or sell or hold?
This is a very typical type of situation.SEBI has barred Mr.Sanjay Dangi and its properiety firm.Sanjay Dangi said he is going to challenge the verdict.
The name of yesteryear Big Bull(Ketan Parekh) has come in Media that he is operating through front entities of his coetire and is trying to bring him to books.
His old scams examples are coming up in media to scar the investors.
These a clear fight between BULL and BEARS.
This fight is very old.Maybe some 3 decades and more.But the first blood was drawn when Harshad Mehta fought his first battle.Around mid 80's, stock market was completly in rein of bears.There were perticular group who always play the bearish game.They never let any stock go up on fundamentals even if the earnings are growing exponentially.At that time, ACC, Tisco(Tata Steel),Tata Motors, Century Tex etc etc were 100 paidup shares and their price use to remain in the vicinity of 170 to 380.Means if we take current 10 paidup then they use to remain in 17 to 38 rupees range.
The price of these 100 fv stock will go up from 170 to 210 or 240 as soon as the Div is declared and will come back again to 170 as soon as it becomes XD.
If Bonus is declared then it will go to 380or max 400-500.That's it.These the Bears lobby will never let it go above those level and if someone try to take it up from that his stock is hammered in such a way through bear gang that he is out of the market.Such was the power of these bear lobby.When a series of short selling takes place then there is no way an individual can do anything to them.Many tried to swim against the tide of bear cartel but were annihilated or buchtered and became bankrupt and lost everything including their houses and jwelleries.
Then came the entry of Harshad Mehta.He was already there watching all these for sometime.But he took up the challenge singlehandedly and took the fight in bears camp.When he took charge, ACC was 300 and Castrol was 400 and he started making position in ACC.He started buying ACC in Futures which then was known as carryforward trade and the Interest one has to give for carry forward trade for every week , or week by week was known as Badla .
If one has short sold stock and he wants to carry forward it then the int. he use to earn was known as undha badla where the short sellers use to gain badla(interest) and that was a very confusing deal.In the sense that a person who short sell gets the int(badla) from who is long.
Well, Harshad Mehta became bull in that time around late 80's and early 90's and he started buying ACC and Castrol in Longs and in futures( which was known then as carryforward trade).
He kept on buying ACC from 300 , 400, 500, 600, 700 and bears went on selling ACC thinking over 500 ?Oh that can never be the price of ACC.They had never let ACC go beyond that so they went on short selling uptill 1300-1400 and Harshad Mehta kept on buying ACC from bears uptill 1400 and it was alomst all eq was dried up for bears to short sell and they even shortsold over and above that and Harshad Mehta kept buying that came from bears.
Bears were never able to understand how HM is able to buy all they sell.How the money is coming because for any thing to buy , one has to dole out money for that buy he somehow managed with that through banks receipt.
And then the real game started when Dr Manmohan Singh, then Fin Minister, opened up the gates for FII's in 1992 and the market went in frenzy.
ACC went going up and up and it touched Rs.10,000(means 10 paidup, 1000).Now imagine the price people use to see for ACC for decades which is never above 400-500 and it become 10,000!Beras never imagined that ACC can touch Rs 10,000 and no one imagined that.
All these happened in 4-5 months.Bears were in a very bad situation.If we say that avergae price they short sold ACC was a median of 200 and 1400 then it comes to 700 or most probably 800 or 1000 and the price became 10,000 , so the difference between 10,000 and 1000 is a HUGE 9000 rupees! and if someone  has short sold just 1000 shares he has to pay the difference of  rs.90 lacs in year 1992 and rs 90 lac was a very big amt in 1992 .Just imagine those bears who short sold 10,000 or 1 lac or 2 lac or 5 lac shares what they have to dole out as difference?No way they can fulfill the trade.They have to go to Harshad Mehta and tell him to find a way and close the deal at much lower rate.They were running from pillar to post and try to catch someone who has contact with Harshad Mehta so that they can talk with him and make a deal.The bears never let Teji to happen and whoever tried to go agianst them were slaughtered , so when Hrashad has his day it was going to be very difficult for bears to even talk with him.Harshad was the first person who made a BIG dent in the fort of bears.He came out like a LION.After his bullrun people started taking interest in Dalal Street otherwise Dalal Street was a BIG NO for a small person.Harshad Mehta showed what is the meaning of TEJI.What is called TEJI.He showed what happened where the prices can go in a BULL market.To me he was the pioneer of 1st Bull Market in India.Though he was a college drop out, he was very sharp and able to understand what is going to happen how he was going to deal with it.I know many people do not like him due to scam , but for ONCE he showed bears the HELL.He showed BEARS what the HELL looks like which these BEARS were showing to others! Can anyone imagine the scenario at Dalal Street at that time?Bears faces were dimmed and trying to scramble to even talk with Harshad Mehta to make a deal for their shorts in ACC? Dalal Street was overjoyed with Bears annihilated for the first time in decades.They were slaughtered for the first time.Harshad Mehta was a HERO.
One had to just imagine what should be scenario there.......
In those time when BEARS WERE RULING THE MARKET NO ONE DARE TO SPEAK TEJI.
The word , "SKY IS THE LIMIT "only came after Harshad came on the floor.No one dared to speak, this sentence before Harshad came.
One needs to remember that Harshad Mehta was alone and against him was a whole lobby of bears.A catrel of Bears and to fight with them on each and everyfront was no mean an achievement.He has to play his cards very well otherwise with just one leak of information and Bears will attack him and he is nowhere.That they did at last.Find out where he is getting money and broke the castle which Harshad made.But I have great respect for Harshad Mehta and Ketan Parekh as well.They were real BULLS.Though their way of operating were not legal but they did it.Taking loans and receipts of crores of rupees and playing the game is not easy.It is a game of 100-200 or even 500-1000 cr game and more.
As I once wrote, keeping market in 20% upper circuit is no child's play which we saw in 2009 when election results were declared.
That is how Harshad Mehta broke the legacy of BEAR LOBBY.He was the first BULL of our market.Though his way of doing things were not correct but he once showed to the BEARS that they can't WIN and dictate the price of any stock at their WILL.
Many bears of that time has now turned BULLS and some are still there playing both the games still.They are BEARS at oppertunity and BULLS at different scenario that takes place.They change their stand according to what is happening in Int market and how BULL are palying their cards.But now we don't see permanent BEAR and that was the difference Harshad Mehta brought to our market.We have bull run as well as bear run.Otherwise in old days it was only bearrun and nothing else.
I remember people use to buy in certian months and sell in certain months.The profit was average 20% and these cycle use to come 3 to 4 times every year.The months were predecided.Buy in these months, sell after 2-3months  take 20 % and again buy after couple of months and sell.....
Some of the Bear operators has such a holding on Dalal Street, which was fondly known as, that they tell the Co Chairman whom to take as Director.He will sit with a wishlist and call CM or send message that keep this person as Dir or your Co price will be broken.Yes, that was how itr was.They even dictate when to give Bonus.They first corner the stock and then pressurize the CM to declare Bonus.Some one will go at the AGM of the Co and will openly pressurize the managemet to declare Bonus.
Those who are new in market do not know anything.You are all just a 1/1000 th percent of a drop in an ocean.Even now what is going on in market , many shouldn't be aware of but there is going on a BIG fight between BULLS and BEARS and each one trying to come one up against each other.It is a MEGA FIGHT BETWEEN BULLS AND BEARS.
These Bear Lobby tried to play with Riliance Ind and Dhirubhai Ambani taught them such a lesson that from there onwards Bears never touched Ril Ind.Bears tried to play the same game with Ril Ind short selling, and Dhirubhai dealt it with BEARS.
That story , about what happened can be read in a Book.I forget the name of the Book but if one will google one will definately find it.It is worth reading how Dhirubhai did it.
The fight between Bulls and Bears are not new in Indian Market nor is in International Market.
This will keep on happening but stock with great fundamentals one will get only in these type of situations.I have been going through the Bulk Deals everyday at bse site and I can say that many HNI's has to sell their holding due to margin pressure etc.
"No stock can go up without operator."
These is a very big sentence but it is true.Stock can never move up over 40-50% withour operator.It is not possible for investor to move a stock over 40-50%.If a stock is giving over 50% return in a year then operator needs to come in picture.The floating stock needs to get dried and there needs to be the paucity of floating stock.The counter then becomes almost dry and then the operation starts.
Hard to explain all these here.I am also not much aware of how things happens but just writing how it happens on my own assumption.
Market will bounce back.This is the fight betwen bulls and bears and nothing else.India is growing.....