Thursday, June 21, 2007

About the Blog

This blog will be a collection of articles that will develop into handbook of management of security market intermediaries. The initial intermediaries on which focus will be there are stock broking companies, investment banks and mutual funds.

Motivation for this initiative:

I received a phone call from Mr. Navin Aggarwal of Motilal Oswal Securities one day in year 2000 and the discussion was about the brochure of Management Development Program that I announced on Security Analysis and Equity Research. I floated that program as Professor of NITIE, Mumbai. I went to their place, and they told me they were looking for person for their training initiative and they wanted me to come and make a presentation to them subsequently. I did the presentation and they offered me the job and I shifted to MOSL as Vice President (Training). They included me in their management council. Market conditions deteriorated very fast and we could not really sit down and chalk out any good training initiative. Then ban on badla came and market went into a panic. Downsizing began and I had to look for an alternative. I now keep telling every participant of my classes - higher risk may give higher expected return - but the actual result can be loss also. My personal experience is an example of it. But as I was a part of the management council for seven or eight months, issues of managing stock broking firms became an area of interest for me.

In 2004, I moved to ICFAI Business School, Mumbai, as Senior Professor in the area of Investments. Dr. V. Panduranga Rao, Vice Chancellor, ICFAI University and Prof Y.K. Bhushan, Senior Advisor, IBS, Mumbai, entrusted me the responsibility of coordinating the work related to SEBI-ICFAI International Conference on Securities Market at at the Mumbai end. Niranjan of IBS, Hyderabad was the main work horse for this effort. I visited SEBI number of times in this context and had very good interaction with Mr. M.S. Sahoo. Mr. Sahoo's commitment to quality and excellence is unparalleled. The three focus themes of the seminar were investor protection, development of the market, and the regulation of the market. I had the opportunity to develop themes for address by industry professionals, to contact them and to modify the themes during discussions with them. Mr. Nimesh Kampani, Mr. Hemendra Kothari, Mr. Uday Kotak, Mr. U.R. Bhat, Mr.Deepak Parekh, Mr. Ravi Mohan were some of the personalities with whom I had interaction in person of through Email. I was also given the honour of being on the editorial board of the proceedings of the conference. This involvement made my interest in managing security market intermediaries more strong.

I joined NITIE back in June 2006 and I gave the focus of management to the course titled as "Financial Markets and Intermediaries". The availability of material to teach this course is scarce. This handbook blog is an attempt by me to interact with other faculty, research scholars and professionals and develop study material on this topic

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