IACOCCA-An Autobiography By Lee Iacocca With William Novak

Honestly  Speaking,I am not much into reading managerial books nut thiss book has changed my perception of managerial books.I thoroughly enjoyed reading this book as I could actually relate myself with the writer.Writer’s straightforwardness,his attitude towards life & towards those people who have done wrong to him reminds me of myself.Iacocca is fast talking,blunt,boastful & unabashedly patriotic.His concern towards America is clearly visible at different places.Iacocca is a living legend,a straight shooting businessman who brought Chrysler,America’s 10th largest corporation & the smallest one among the 3 major auto giants of the time viz. GM,Ford & Chrylser,from brink & in the process became a media celebrity,celebrity,news maker & a man many have urged to run for President.The son of italian Immigrants,Iacocca rose spectacularly through the ranks of Ford Motor Company to become its President,only to be toppled 8 years later in a power play played by the Henry Ford II,his immediate boss.Rathes than going mad,Lee iacocca got even.He led a battle for Chrysle’s survival that made his name a symbol of integrity,know-how & guts for millions of Americans.The miraculous recovery of Chrysler from a major cash crunch in a  short period of 5 years was made possible by a team of dedicated executives hand picked by Iacooca.This is one quality of his which appealed to me the most.Rather than taking the entire credit himself he has fully recognised of his family,friends & peers.His concept of “equality of sacrifice” is also something new for me.His way of giving other peaople a goal & how to motivate them to achieve it is breathtaking as is evedent in the case of his negotiations with the union members,suppliers,banks etc.His is a perfect story of rags to riches & back to rags & then again riches.According to his own views,he has grown more in his days of adversity than in his days of wines & roses.Ford during that time was run like a private duchy by the whim of one man & why Iacooca was thrown out of the job is still a mystery to resolve.He signed on for his new job,he couldn’t imagine that anything in the automobile business could be that bad,but,he took it & made a hell lot of difference.While foeming a management team for Chrysler,Iacooca chose teh best of Ford Executives but more than that he chose best of his friends who agreed to be a part of his adversity in his time of crisis.Again,my type of person!{I would definitely like to blend talent & an essenc eof friendship in my team,a sure call for success.}Iacocaa tried really hard & how hard is something sacrosanct.From possible mergers,loans to finally settling for a $1.5 Billion loan guarantee from Government,he tried & did everything to save Chrysler & that’s why he,along with his White Knights,made it.As soon he saved Chrysler & brought it back on road,Lee made it a point to make cars safer,has talked about high cost of living,has addressed the problem of COLA(Cost Of Living Allowance),penions etc.He has been very straightforward  while talking about American Ggovernment’s incapablity to handle Japanese burgeoning imports throught illicit market policies.His take on interrest is also much better than most of the politicians I have seen & no wonders,people asked him to run for Presidentship.He truly deserves it!!!!!!!!!

Interpreter Of Maladies By Jhumpa Lahiri

This book has won Pulitzer prize for Fiction in 2000 & after reading this book it wasnt a big mystery for me why.Definitely,an elegeant collection of short stories has been composed by Ms. Jhumpa.The way she has picturised the silhouette of the characters in the stories along with the situation or problems they are facing.The tntire repertoire is a masterpiece with sories woven beautifully around the characters.Jhumpa definitely deserves accolades for her outstanding work.Despite of interpreter of maladies being her first published novel,jhumpa has shown enviable eloquence.The stories revolve around the lives of Indians in exile,of people navigating between the strict traditions they have inherited & the baffling new world they must encounter every day.Each & every story has been crafted with great wile,spiced up with humour & subtle details.Abstruse emotions of characters have been envisaged with great care & concern.Jhumpa’s scintillating proses have a mesmerising effect on the reader.Jhumpa’s selection of topics is exemplary which is clear.y visible in all the nine stories.Mingling of expected with the unexpected is her way of doing things.Beguiled by the placidity you are not quite prepared for the sudden jerks,which almost sweep you into drowning.Though,I liked all the nine stories equally but my favourite ones are – Interpreter Of maladies,story of a midwestern woman who discloses her extramarital affair to an interpreter;A Real Durwan,shows how people change with time & definitely,the third & final continent,the story of a father who encourages his son to go abroad to find his own land.Overall,the book is a must read for the fans of short stories who crave for sweet,little stories.

How Buffet Does It By james Pardoe

24 Simple Investing Strategies From The world’s Greatest Value Investor

This book encompasses a truly inspiring story of a boy who inherited nothing from his father,knew nothing of stock market’s trends,is tehnologically illiterate & is presiding over one of the most famous investment organisations Berkshire Hathaway & is currently worth more than $40 Billion.
I read this book during the time when Indian stock market index i.e. sensex was plummetting from  near 20728 on Jan 11 to 12962 on July 1.So,I could actually put Buffet’s strategies at places & the problem was as clear as crystal.
His principles & srategies,of which Buffet swears,are –
1. Choose Simplicity over Complexity
2. Make your own investment decisions
3. Maintain Proper Temperament
4. Be Patient – think in years not in days
5. Get into the right business rather than running after good stocks
6. Look for companies that have high walls & deep moats around them.
7. Aim to own no more than 10 stocks at a time
8. Practice inactivity not hyperactivity
9. Dont be bothered for daily or monthly or even yearly fluctuations
10. View market downturn as buying opportunities-Always search for value
11. Dont swing at every pitch
12. Buy low tech not high tech
13. Ignore the visible focus on invisible
14. Take a close look at the management
15. Remember the emperor wears no clothes on wall street
16. Practice independent thinking
17. Develop a zone of expertise & operate within that zone only
18. Ignore stock market forecasts
19. Always remember “Mr. Market” & “Margin Theory” concept
20. Be fearful when others are greedy & greedy when others are fearful
21. Read,read some more & then think
22. Emulate your ideal & disdain ones you dislike
23. Avoid the costly mistakes of others
24. Become A Sound Investor
That’s in all what Buffet says & practices.Rest its all one’s intellect  & ingenious which actually make a difference.
Buffet is truly impressed by Benjamin Graham’s strategies & is a student & a devoted disciple of his.Mr Market refers to a person who reacts to the situation very quickly & is ready to buy or sell shares in an instant.Margin of safety means thst the price of stock is considerably lower than the value of the business.