- Arvind's Newsletter
- Posts
- Arvind's Newsletter
1. Corporate fraud is more pervasive than you think :The end of every bull market brings with it revelations of corporate fraud (think Enron, Maddoff, Satyam and now the crypto blowups). Remember Warren Buffett's quote, "Its only when the tide goes out do you discover who has been swimming naked." A new academic study in USA, reported n the New York Times, estimates that about 40% of companies are committing accounting violations and that 10% are committing what is considered securities fraud, destroying 1.6% of equity value each year — about $830 billion in 2021. It suggests that only about a third of frauds in public companies actually come to light, and that fraud is disturbingly common.
Though no similar study has been done in India, Marcellus Investment Managers, in a blog post based on their forensic accounting research on the Indian stock market has suggested that over the past decade a third or so of listed Indian companies have done "naughty things" with their accounts.
2. Entrepreneurship:Two Indians have become the first to sell a hybrid beer in Poland that combines Indian rice flakes with European hops. The BBC's Imran Qureshi finds out how the Ukraine war shaped their journey.
3. The role of Luck: can it be created ? : What are the secrets of the most successful people? How much of their success was due to luck and how much due to their skill or personal characteristics? The following post reviews the literature on luck (Short Read). The second article from the Scientific American suggests the role of luck in Life success is greater than we think (Long Read)
4. Drone Boats—Inside the U.S. Navy’s Latest Unmanned AI Tech. Shelby Holliday of Wall Street Journal, traveled to Bahrain to get a rare look at how the U.S. is pairing unmanned surface vessels with artificial intelligence to see “from seabed to space.” The unmanned surface vessels appear to be on the cusp of a technological revolution. Watch this video.
5. I am always looking for recommendations on books to read. My usual sources are Goodreads, New York Times and Guardian book reviews, a website called Five Books, podcasts ( Conversation with Tyler, Seem and Unseen (Amit Varma), as well recommendations from close friends. Now there is Readow.AI a service that allows users to receive book recommendations suggested by an AI model. I discovered this service thanks to my friend -management consultant turned artist -Ravi Trivedy. Try it here
