|
Tuesday, May 31, 2011
The New Bhagavad Gita
SPIRITUALITY
A speech by Javed Akhtar on SPIRITUALITY at the India Today Enclave : May 2009I am quite sure ladies and gentlemen, that in this august assembly nobody would envy my position at this moment. Speaking after such a charismatic and formidable personality like Sri Sri Ravi Shankar is like coming out of the pavilion to play after Tendulkar has made a sparkling century. But in some weak moment I had committed myself.There are certain things that I would like to make very clear at the very outset. Don't get carried away by my name - Javed Akhtar. I am not revealing a secret, I am saying something that I have said many times, in writing or on TV, in public. I am an atheist, I have no religious beliefs. And obviously I don't believe in spirituality of some kind. Some kind.Another thing. I am not standing here to criticize, analyze, or attack this gentleman who is sitting here. We have a very pleasant, civilized relation. I have always found him to be an extremely courteous person.One is talking about an idea, an attitude, a mindset. Not any individual. I must tell you that when Rajeev opened this session, for a moment I felt that I have come to the wrong place. Because, if we are discussing the philosophy of Krishna and Gautam and Kabir, Vivekanand, then I have nothing to say. I can sit down right now. I am not here to discuss a glorious past of which I suppose every Indian is proud, and rightly so. I am here to discuss a dubious present.India Today has invited me and I have come here to talk of spirituality today. Let's not be confused by this word spirituality, you can find two people with the same name and they can be totally different people. Ram Charit Manas was written by Tulsidas. And the television film has been made by Ramanand Sagar. Ramayan is common but I don't think it would be very wise to club Tulsidas with Ramanand Sagar. I remember, when he had written Ramcharit Manas, he had faced a kind of a social boycott. How could he write a holy book in such a language like Avadhi? Sometimes I wonder fundamentalists of all hues and all colors, religions and communities. how similar they are.In 1798, a gentleman called Shah Abdul Qadir, in this very city, for the first time translated Quran in Urdu, and all the ulemas of that time gave fatwa against him that how could he translate this holy book in such a heathen language. When Tulsi wrote Ramcharit Manas and he was boycotted, I remember a chowpai that he had written."Dhut kaho abdhut kaho rajput kaho ki julawa kohuKohu ki beti se beta na biahab, kohu ki jaat bigaar na chahuMang ke khaibo, mehjid ma raihbo, lebe ka ek na debe ka dohu"Ramanand Sagar, when he made his television serial, he made millions. I am not undermining him, but obviously he is much on the lower rung.I will give you another example. Perhaps it would be more direct and more appropriate. Gautam came out of a palace and went into wilderness to find the truth. But nowadays we see, the modern age gurus, come out of the wilderness and wind up in the palaces. They are moving in the opposite direction. We can't talk of them in the same breath. So let us not hide behind names which are dear and respectable for every Indian.When I was invited to give this talk, I felt that yes, I am an atheist, try to be a rationalist in any given situation, Maybe that's why I have been called. But suddenly I have realized that there is another quality that I share with Modern Age gurus. I work in films. We have a lot in common. Both of us, sell dreams, both of us create illusions, both of us create icons, but with a difference. After three hours we put a placard - the end. Go back to reality. They don't.So ladies and gentlemen, let me make it very clear that I have come to talk of this spirituality that has a supermarket in the world. Arms, drugs and spirituality - these are the three big businesses in the world. But in arms and drugs you really have to do something, give something. That's the difference. Here you don't have to give anything.In this supermarket you get instant Nirvana, Moksha by mail, a crash course in self-realization, cosmic consciousness in four easy lessons. This supermarket has its chain all over the world, where the restless elite buy spiritual fast food. I am talking about this spirituality.Plato in his dialogues has said many a wise thing, and one of them is - before starting any discussion decide on the meanings of words.Let us try to decide on the meaning of this word spirituality. Does it mean love for mankind that transcends all religion, caste, creed, race? Is that so? Then I have no problem. Except that I call it humanity.Does it mean love of plants, trees, mountains, oceans, rivers, animals? The non-human world? If that is so, again I have no problem at all. Except that I call it environmental consciousness.Does spirituality mean heartfelt regard for social institutions like marriage, parenthood, fine arts, judiciary, freedom of expression. I have no problem again sir, how can I disagree here? I call it civil responsibility.Does spirituality mean going into your own world trying to understand the meaning of your own life? Who can object to that? I call it self-introspection, self-assessment.Does spirituality mean Yoga? Thanks to Patanjali, who has given us the details of Yoga, Yam, Niyam, Aasan, Pranayam. We may do it under any name, but if we are doing pranayam, wonderful. I call it health-care. Physical fitness.Now, is it a matter of only semantics? If all this is spirituality, then what is the discussion? All these words that I have used are extremely respectable and totally acceptable words. There is nothing abstract or intangible about them. So why stick to this word spirituality? What is there in spirituality that has not been covered by all these words? Is there something? If that is so then what is that?Somebody in return can ask me: what is my problem with this word? I am asking to change it, leave it, drop it, or make it obsolete. But why so? I will tell you what my reservation is. If spirituality means all this then there is no debate.But there is something else which makes me uneasy. In a dictionary, the meaning of spirituality is rooted in a word called "spirit". When mankind didn't know whether this earth is round or flat, he had decided that human beings are actually the combination of two things. Body and spirit. Body is temporary, it dies. But the spirit is, shall I say, non-biodegradable. In your body you have a liver and heart and intestines and the brain, but since the brain is a part of the body, and mind lies within the brain, it is inferior because ultimately the brain too shall die with the body, but don't worry, you are not going to die, because you are your spirit, and the spirit has the supreme consciousness that will remain, and whatever problem you have is because you listen to your mind. Stop listening to your mind. Listen to your spirit - the supreme consciousness that knows the cosmic truth.All right. It's not surprising that in Pune there is an ashram and I used to go there. I loved the oratory. On the gate of the lecture hall there was a placard. Leave your shoes and minds here. There are other gurus who don't mind if you carry your shoes. But minds? Sorry!Now, if you leave your mind what do you do? You need the Guru to find the next station of consciousness. That hides somewhere in the spirit. He has reached the supreme consciousness, he knows the supreme truth. But can he tell you. No sir, he cannot tell you. So can you find out on your own? No sir, you need the guru for that. You need him but he cannot guarantee that you will know the ultimate truth. And what is that ultimate truth? What is the cosmic truth? Relating to cosmos? I have really not been able to understand that.The moment we step out of the solar system the first star is Alpha Centaury. It is just four light years away. How do I relate to that!! What do I do!! So the emperor is wearing robes that only the wise can see. And the emperor is becoming bigger and bigger. And there are more and more wise people who are appreciating the robe.I used to think that actually spirituality is the second line of defence for the religious people. When they get embarrassed about traditional religion, when it starts looking too down-market, they hide behind this smokescreen of cosmos and super consciousness. But that is not the complete truth. Because the clientele of traditional religion and spirituality is different. You take the map of the world, you start marking places which are extremely religious, within India or outside India, Asia, Latin America, Europe. Wherever. You will find that wherever there is an excess of religion there is a lack of human rights. There is repression. Anywhere!Our Marxist friends used to say that religion is the opium of the poor masses, the sigh of the oppressed. I don't want to get into that discussion. But spirituality nowadays is definitely the tranquilizer of the rich.You see that the clientele is well heeled, it is the affluent class. Alright, so the guru gets power, high self-esteem, status, wealth--which is not that important--power. And lots of wealth too. What does the disciple get? When I look at them carefully I realize that there are categories and categories of these disciples. It's not a monolith. There are different kinds of followers. Different kinds of disciples.One, who is rich, successful, doing extremely well in his life, making money, acquiring property. Now, since he has everything he wants absolution too. So guru tells him - whatever you are doing, is "niskaam karma" - you are playing a role, this is all "Maya", the money that you are making everyday and the property that you are acquiring, you are not emotionally involved with it. You are just playing a role. You come to me because you are in search of eternal truth. Maybe your hands are dirty, but your spirit and soul are pure. And this man, he starts feeling wonderful about himself. For seven days he is exploiting the world, and at the end of the seven days when he goes and sits at the feet of the guru, he feels - I am a sensitive person.There is another category. That too comes from the affluent class. But he is not the winner like the first one. You know winning or losing that is also relative. A rickshaw-puller—if he is gambling on the pavement and wins hundred rupees—will feel victorious, and if a corporate man makes only 300 million dollars, while his brother is a billionaire, he will feel like a failure. Now, what does this rich failure do? He needs a guru to tell him - who says that you have failed? You have other worlds, you have another vision, you have other sensibility that your brother doesn't have. He thinks that he is successful. Wrong. The world is very cruel, you know. The world tells you honestly, no sir, you have got three out of ten. The other person has seven out of ten. Fair. They will treat you that way and they will meet you that way. There he gets compassion. There he plays another game.Another category. And I will talk about this category not with contempt or with any sense of superiority, not any bitterness, but all the compassion available to one that is a very big client of this modern day guru and today's spirituality, is the unhappy rich wife.Here is a person who put all her individuality, aspirations and dreams, and her being at the altar of marriage and in return she got an indifferent husband. Who at the most gave her a couple of children. Who is rather busy with his work, or busy with other women. This woman needs a shoulder. She knows that she is an existential failure. There is nothing to look forward to. She has a vacuous, empty, comfortable yet purposeless life. It's sad, but it is true.Then there are other people. Who are suddenly traumatized. They lose a child. The wife dies. The husband dies. Or they lose the property, they lose their business. Something happens that shocks them and they ask - why me? So who do they ask? They go to the Guru. And the guru tells him that this is Karma. But there is another world—if you follow me—where there is no pain. Where there is no death. Where there is immortality. Where there is only bliss. He tells all these unhappy souls - follow me and I will take you to the heaven, to the paradise, where there is no pain. I am sorry sir, it is disappointing but true that there is no such paradise. Life will always have a certain quota of pain, of hurts, a possibility of defeats. But they do get some satisfaction.Somebody may ask me: if they are feeling better, if they are getting peace then what is your problem? It reminds me of a story that I have read. It's an old Indian story told by a sage, that a hungry dog finds a dry bone and tries to eat it and in the process bites its own tongue. And the tongue is bleeding and the dog feels that he is getting nourishment from the bone.I feel sad. I don't want them, these adults, to behave like this because I respect them. Drugs and alcohol are also supposed to give mental peace and serenity, but is that kind of peace or serenity desirable or advisable? The answer is no. Any mental peace that is not anchored in rational thoughts is nothing but self-deception. Any serenity that takes you away from truth is just an illusion - a mirage. I know that there is a kind of security in all this which is like the security of a tri-cycle. If you are riding a tri-cycle you can't fall. But adults do not ride tricycles. They ride bi-cycles. They can even fall. It is a part of life.There is one more kind. Like everybody who is a member of the golf club is not fond of golf. In the same way everybody who is seen in an ashram is not a spiritual person. A film producer who is an ardent follower of a guru, whose ashram is about two hours from Delhi once told me that you must go to my Guru. You will see the who's who of Delhi there. Let me tell you my Guruji is another Chandraswami in the making. Now this is a contact point for networking.I have great respect for people who are spiritual, or religious, and in spite of this they are good people. And I have a reason. I believe that like every emotion or feeling, you have a limitation.I am feeling slightly pressurized about time, can I get another five six minutes please. may I sir. [Rajiv Mehrotra "yes, you can"]You can see up to a point. And you can't see further. You can hear up to a point, but beyond that you won't be able to register sounds. You can mourn up to a point and then you will get over your mourning. You will feel happy up-to a point and then you will be through with your happiness. Same way, I am sure that you have a certain capacity for nobility also. You can be as noble and no more.Now suppose if we count this capacity for nobility in the average man as ten units, now anybody who goes to pray in a mosque five times is consuming his five units, there anybody who goes to the temple or sits at the feet of the Guru, he is consuming his quota of nobility there. And in a totally non-productive manner. I don't go to pray. I don't pray. If I don't go to any guru, or mosque or temple or church, what do I do with my quota of nobility? I will have to help somebody, feed somebody, give shelter to somebody. People who use their quota in worshiping, praying, adoring religious figures and spiritual figures, in spite of that, if they are still left with some nobility, hats off to them.You may ask me, if I have this kind of ideas about religious people, why should I show such reverence for Krishna and Kabir and Gautam? You can ask me. I'll tell you why I respect them. These were the great contributors to the human civilization. They were born at different points of time in history, in different situations. But one thing is common in them. They stood up against injustice. They fought for the downtrodden. Whether it was Ravana, or Kansa or the pharaoh or the high priests or the British Samrajya in front of Gandhi - or the communal empire of Firoze Tughlaq in the times of Kabir, they stood against that.And what surprises me, and confirms my worst feelings, that today, the enlightened people who know the cosmic truth, none of them stand up against the powers that be. None of them raises his voice against the ruling classes and the privileged classes. Charity, yes, when it is approved and cleared by the establishment and the powers that be. But I want to know which was that guru which took the dalits to those temples which are still closed to them. I want to know which was that guru who stood for the rights of the Adivasis against the thekedaars and contractors. I want to know which was that guru who spoke about the victims of Gujarat riot and went to their relief camps. They are human beings.Sir. It is not enough to teach the rich how to breathe. It is the rich man's recreation. It is the hypocrites' pretension. It is a mischievous deception. And you know that in the oxford dictionary, mischievous deception is a term that is used for a word, and that word is HOAX. Thank you.
From Letters to the Editor ( the Economist)
Cloud Computing is Like Commercial Aviation.....
SIR – I was disappointed that your article added to the hysteria that surrounds cloud computing ("Break-ins and breakdowns", April 30th). In my view cloud computing is like commercial aviation. Which is safer per-mile of travel: aircraft or automobile? Car crashes are responsible for more deaths, yet a plane crash is certain to make the news. For the same reason, cloud computing outages are considered newsworthy. Although the frequent down times of companies' internal IT systems are less publicised, these down times almost certainly cause more harm and lost productivity in aggregate (like car accidents).
Air travel makes people uncomfortable, in part because of a loss of control, no matter how well trained and experienced the pilot may be. Similarly organisations fear cloud computing, preferring to be "behind the wheel". Yet transportation statistics show that desire can be misguided.
Aviation had its share of hype and detractors, but no one would argue that it has not transformed travel. I predict that once the dust settles, cloud computing will be no less transformative.
Milo M.K. Martin
Associate professor of computer science
University of Pennsylvania
Philadelphia
Monday, May 30, 2011
World's Free Classroom .............
http://www.youtube.com/user/khanacademy
What started out as Sal making a few algebra videos for his cousins has grown to over
arithmetic to physics, finance, and history.
Understand Your PAN Card
| Understand Your PAN Card Whether you are an Indian citizen or an NRI, if you are filing taxes or have financial transactions in India you will almost always need a PAN card. What is PAN? A Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department of India. Each set of numbers is unique to the individual, HUF, company, etc. (We will take a closer look at those numbers in a moment.). PAN is a permanent number, is unaffected by a change of address, even between states and is not transferable. It is illegal to own more than one PAN. The PAN's primary purpose is to bring a universal identification key factor that links and tracks various documents and information regarding taxes and financial transactions, such as loans, investments, buying and selling real estate and other business activities of taxpayers. By tracking the above it indirectly prevents tax evasion through non-intrusive means. You can consider this number to be similar to the Social Security Number issued in the United States to USA citizens and other legal residents. Structure of the PAN The structure of the new series of PAN numbers is based using Phonetic Soundex code algorithm to ensure that each number is unique. The following list is "constant permanent parameters" that assist in the creation of phonetic PAN (PPAN) number: i. Full name of the taxpayer; ii. Date of Birth/Date of Incorporation iii. Status; iv. Gender in case of individuals; and v. Father's name in case of individual (including in the cases of married ladies). The 10 Digit Alphanumerical Sequence Let's take a look at the breakdown of the 10 digit alphanumerical sequence: 1. The first five fields are called the core fields and are alphabetical in nature. 2. The first three letters of the core field are an alphabetical series running from AAA to ZZZ. 3. The forth character of the PAN must be one of the following, depending on the type of assesse: C – Company P – Person H — HUF (Hindu Undivided Family) F — Firm A — Association of Persons (AOP) T — Trust B — Body of Individuals (BOI) L — Local Authority J — Artificial Juridical Person G — Govt (Example – Company = AAACA; Artificial Juridical Person = AAAJA; HUF = AAAHA; etc.) 4. The fifth character of the PAN is the first character of the following: a) Your surname in the case of "P" or; b) For all others you would use the first letter of the name of the Entity, Trust, Society, Organization, HUF, etc. (Example - Lisa Chanamolu [Personal] = AAAPC4444A; Lisa Chanamolu [HUF] = AAAHL4444A; General Firm = AAAFG4444A; etc.) 5. The next four numbers are sequential numbers running from 0001 to 9999. 6. The last digit is an alphabetic check digit. The New Phonetic PAN (PPAN) The new Phonetic PAN (PPAN) helps to prevent the allotment of more than one PAN to assesses with the same or similar names. If a matching PPAN is detected, a warning is given to the user and a duplicate PPAN report is generated. In these cases, a new PAN can only be allotted if the Assessing Officer chooses to override the duplicate PPAN detection. Under this new system a unique PAN can be allotted to 17 crore taxpayers. Myths Regarding PAN Many people believe that PAN cards are used for tax purposes only. That is a myth. PAN numbers are required for the purpose of income tax but not the actual card itself. Photocopies of PAN cards are required as prove of identity in financial transactions such as opening a bank account, purchase and sale of property and motor vehicles, home telephone lines and investments, such as demat accounts and mutual funds, just to name a few. Applying for a PAN Card Anyone can apply for a PAN card, whether they are working or not. There is no restriction on age, region or nationality. You can submit an application for an underage minor and even on behalf of a newborn. Applications must be signed by a legal parent or guardian. New PAN: · If the applicant has never applied for a PAN, does not have a PAN allotted to them, they can visit the Income Tax Department (ITD) website. The first step is to determine if a PAN has been allotted to them or not. · If a PAN has not been allotted to them they can apply at the following sites. You can apply and track the progress of your application through both of these websites: · To apply in person, use the following lists to find the nearest TIN-PAN Centers, NSDL TIN Facilitation Centersor UTI PAN Application Centers (for UTI, see list at bottom of page). To apply for a new PAN card you need to submit at least two proofs of Identify and residence from the following sources: · Matriculation Certificate · Recognized Educational Institute Degree · Credit Card · Bank Statement · Ration Card · Driving License · Voter's Identity Card · Passport (The above list is for individuals and HUF.) Reprint of PAN Card: · This application should be used when a PAN number has been allotted to you and you need a PAN card. A new PAN card will be issued to you with the same PAN number. Go to the NSDL website to apply for a reprint. You can go to the above mentioned NSDL and UTI sites to verify or search your PAN number. In Conclusion It is easy to see the importance of your PAN card and why you need the physical card as well as the allotted PAN number. If you do not have a PAN card, take the small amount of time need to apply for one today. For more information please visit http://www.incometaxindia.gov.in/pan/overview.asp Or write to us at smartmoneyinc@indiatimes.com or zoherdoctor@gmail.com |
In The Human Mind
The human mind is a wonderful thing. Cognition, the act or process of thinking, enables us to process vast amounts of information quickly. For example, every time your eyes are open, you brain is constantly being bombarded with stimuli. You may be consciously thinking about one specific thing, but you brain is processing thousands of subconscious ideas. Unfortunately, our cognition is not perfect, and there are certain judgment errors that we are prone to making, known in the field of psychology as cognitive biases. They happen to everybody regardless of age, gender, education, intelligence, or other factors. Some of them are well known, others not, but all of them are interesting. I am sure everyone will find that one has happened to them, (I myself have been prone to several) and now will recognize when they are making an error in the future.
10 - Gambler's Fallacy
The Gambler's fallacy is the tendency to think that future probabilities are altered by past events, when in reality, they are not. Certain probabilities, such as getting a heads when you flip a (fair) coin, are always the same. The probability of getting a heads is 50%, it does not matter if you've gotten tails the last 10 flips. Thinking that the probabilities have changed is a common bias, especially when gambling. For example, I am playing roulette. The last four spins have landed on black, it has to be red this time right? Wrong! The probability of landing on red is still 47.37% (18 red spots divided by 38 total spots). This may sound obvious, but this bias has caused many a gambler to lose money thinking the probabilities have changed.
9 - Reactivity
Reactivity is the tendency of people to act or appear differently when they know that they are being observed. In the 1920s, Hawthorne Works (a manufacturing facility) commissioned a study to see if different levels of light influenced worker productivity. What they found was incredible, changing the light caused productivity to soar! Unfortunately, when the study was finished, productivity levels decreased to their regular levels. This was because the change in productivity was not due to the light levels, but to the workers being watched. This demonstrated a form of reactivity; when individuals know they are being watched, they are motivated to change their behavior, generally to make themselves look better. Reactivity is a serious problem in research, and has to be controlled in blind experiments ("Blind" is when individuals involved in a research study are purposely withheld information so as not to influence the outcomes).
8 -Pareidolia
Pareidolia is when random images or sounds are perceived as significant. Seeing clouds in the shapes of dinosaurs, Jesus on a hot pocket, or hearing messages when a record is played backward are common examples of pareidolia. The common element is that the stimulus is neutral, it does not have intentional meaning; the meaning is in the viewer's perception.
Interesting Fact: the Rorschach Inkblot test was developed to use pareidolia to tap into people's mental states. Testees are shown images of ambiguous pictures, and asked to describe what they see. Responses are analyzed to discover the testee's hidden thoughts.
7 - Self-fulfilling Prophecy
Self-fulfilling prophecy is engaging in behaviors that obtain results that confirm existing attitudes. A self-fulfilling prophecy is a prediction that causes itself to become true. For example, I believe that I am going to do poorly in school, so I decrease the effort I put into my assignments and studying, and I end up doing poorly, just as I thought. Another common example is relationships; I think my relationship with my significant other is going to fail, so I start acting differently, pulling away emotionally. Because of my actions, I actually cause the relationship to fail. This is a powerful tool used by "psychics" – they implant an idea in your mind, and you eventually make it happen because you think it will.
Interesting Fact: Economic Recessions are self-fulfilling prophecies. Because a recession is 2 quarters of Gross Domestic Product (GDP) decline, you cannot know you are in a recession until you are at least 6 months into one. Unfortunately, at the first sign of decreasing GDP, the media reports a possible recession, people panic and start a chain of events that actually cause a recession.
6 - Halo effect
The Halo effect is the tendency for an individual's positive or negative trait to "spill over" to other areas of their personality in others' perceptions of them. This bias happens a lot in employee performance appraisals. For example: my employee, Biff, has been late to work the past three days; I notice this and conclude that Biff is lazy and does not care about his job. There are many possible reasons why Biff was late, perhaps his car broke down, his babysitter did not show up, or there has been bad weather. The problem is, because of one negative aspect that may be out of Biff's control, I assume that he is a bad worker.
Interesting Fact: The Physical Attractiveness Stereotype is when people assume that attractive individuals possess other socially desirable qualities, such as happiness, success and intelligence. This becomes a self-fulfilling prophecy when attractive people are given privileged treatment such as better job opportunities and higher salaries.
5 - Herd Mentality
Herd mentality is the tendency to adopt the opinions and follow the behaviors of the majority to feel safer and to avoid conflict. Also known as "Mob Mentality," this is, at its most common form, peer pressure. Herd mentality explains why fads get so popular. Clothes, cars, hobbies, styles, all it takes is a group of people who think something is cool, and it catches on.
Interesting Fact: things that are unattractive, or that would never seem cool or popular now have had huge followings due to herd mentality. Examples include parachute pants, pet rocks, mullets, cone bras, tie-dye, sea monkeys, and the 1980s.
4 - Reactance
Reactance is the urge to do the opposite of what someone wants you to do out of a need to resist a perceived attempt to constrain your freedom of choice. This is common with rebellious teenagers, but any attempt to resist authority due to perceived threats to freedom and/or choice is reactance. The individual may not have a need to do the specific behavior, however the fact that they cannot do it makes them want to.
Interesting Fact: "reverse psychology" is an attempt to influence people using reactance. Tell someone (particularly children) to do the opposite of what you really want, and they will rebel and actually end up doing what you want.
3 - Hyperbolic Discounting
Hyperbolic discounting is the tendency for people to prefer a smaller, immediate payoff over a larger, delayed payoff. Much research has been done on decision-making, and many factors contribute to the individual decision making process. Interestingly, delay time is a big factor in choosing an alternative. Put simply, most people would choose to get 20 dollars today instead of getting 100 dollars one year from today. Normally it makes sense to choose a greater amount of money immediately than less in the future, as the value of a dollar is worth more today than it is tomorrow. Assume that the interest rate is 9%, at this interest rate, a rational person would be indifferent to taking $91.74 now, or $100 a year from now. However, it is interesting how much less we are willing to take immediately rather than wait, would you rather have $100 a year from now, or $50 immediately? How about $40 immediately? Where do you draw the line?
2 - Escalation of Commitment
Escalation of commitment is the tendency for people to continue to support previously unsuccessful endeavors. With all the decisions people have to make, it is unavoidable that some will be unsuccessful. Of course, the logical thing to do in these instances is to change that decision or try to reverse it. However, sometimes individuals feel compelled not only to stick with their decision, but also to further invest in that decision because they have sunk costs. For example, say you use half of your life savings to start a business. After 6 months, it is evident that the business is going to be unsuccessful. The logical thing to do would be to "cut your losses" and drop the business. However, due to the sunk costs of your life savings, you feel committed to the business and invest even more money into the project hoping that the additional cash will turn the business around.
1 - Placebo Effect
The Placebo effect is when an ineffectual substance that is believed to have healing properties produces the desired effect. Especially common with medications, the placebo effect has been observed when individuals given a sugar pill for a real ailment report improvement. Placebos are still a scientific mystery. It is theorized that placebos cause an "Expectancy Effect", (In cases of uncertainty, expectation is what is most likely to happen) individuals expect the pills to cure their ailments, so they feel cured. However, this does not explain how the ineffectual pills actually cause a reduction in symptoms.
Interesting Fact: The term "Placebo" is used when the outcomes are considered favorable, when the outcomes are negative or harmful; the term is "Nocebo"
Sunday, May 29, 2011
Playing pilots
|
Saturday, May 28, 2011
Deutsche Bank : Search for a new CEO
Internal candidates to succeed Ackermann ( current CEO) include Anshu Jain, 48, head of the corporate and investment bank, and Chief Risk Officer Hugo Banziger, 55, people with knowledge of the matter said previously. The race has intensified with Axel Weber , 54, who stepped down as Bundesbank president in April, joining the mix as a potential successor or co-CEO, they said.
Klaus Nieding, a representative of Germany's DSW shareholder group, praised Weber's connections to regulators, Jain's ability to earn money and Banziger's risk management while calling for an end to speculation."If we could bake our next CEO, then we'd take ingredients from all of them," Nieding said. "You should finally draw a line in the sand with open communication."
Klaus Nieding, a representative of Germany's DSW shareholder group, praised Weber's connections to regulators, Jain's ability to earn money and Banziger's risk management while calling for an end to speculation."If we could bake our next CEO, then we'd take ingredients from all of them," Nieding said. "You should finally draw a line in the sand with open communication."
Sick and Tired : The so- called A Raja House
I never believed the Raja House mail I got from at least 50 guys......the house has no tell-tale Indian items/artifacts in it ..... it now transpires that the beautiful house in the mail is actually a house made by an architect named Steve Hermann and it is located in California, USA....
RSK
Skills of Mututal Fund Managers?
Gambling
Poker-faced
A new study argues that poker is a game of skill, not chance.
May 19th 2011 | from the print edition of tehe Economist
IS POKER "a gambling game, pure and simple", as a judge in Louisiana called it in a much-cited 1910 judgment? Or is it a game in which skill plays an important role? The answer may help determine whether online poker games should be covered by a law that prohibits Americans from gambling over the web.
So far, judges have tended to agree with the 1910 precedent. Future rulings will determine the prospects of a $6 billion industry. Yet there has been very little research into this subject, in part because of the paucity of data.
A new study by an economist, Steve Levitt, author of "Freakonomics", and Thomas Miles, his Chicago University colleague, uses data on those who took part in the 2010 World Series of Poker, an annual contest in Las Vegas. Last year it attracted over 32,000 players and gave out more than $185m in prize money. Because the tournament is open to anyone who pays the entry fee, its participants have varying levels of experience and differing records of success or failure.
But the opposite proved to be true. Those who had done well before did well in 2010, too. Whereas ordinary players made a loss of 15.6%, the skilled made a return on investment of 30.5%, suggesting that poker is after all a game of skill. The economists say that similar tests of persistence in returns have also been used to detect whether mutual-fund managers have genuine expertise. In contrast to the case of poker, they point out, those tests have tended to find "little evidence of skill in this domain".
Subscribe to:
Posts (Atom)