Wednesday, December 26, 2007
Anil Ambani's Reliance Money is worlds cheapest brokerage firm
Anil Ambani Group’s (Adag) Reliance Money has become the world’s most cost-effective broking company in the world, despite India being dubbed among the most expensive markets in terms of transaction costs.
Indian bourses, one of the best performers of the world, are more expensive than a number of markets like the US, UK, Japan and even Russia and Brazil. According to a survey conducted by Elkins/McSherry, the average brokerage charge for delivery-based trades in India is around 30 basis points, while the total transaction cost is about 51 basis points after including charges like stamp duty and service tax. Rel Money’s brokerage is about one basis points— the world’s lowest, and the total cost after including the market impact charges works out to be about 15 basis points. Rel Money, in just 6months, got over 2.5 lakh customers and its average turnover is over 2% of the total turnover in the country.
Indian bourses, one of the best performers of the world, are more expensive than a number of markets like the US, UK, Japan and even Russia and Brazil. According to a survey conducted by Elkins/McSherry, the average brokerage charge for delivery-based trades in India is around 30 basis points, while the total transaction cost is about 51 basis points after including charges like stamp duty and service tax. Rel Money’s brokerage is about one basis points— the world’s lowest, and the total cost after including the market impact charges works out to be about 15 basis points. Rel Money, in just 6months, got over 2.5 lakh customers and its average turnover is over 2% of the total turnover in the country.
New airport runway in Portugal
In Portugal A special airport -- the airport's runway with a length of 2781 meters , which 1000 meters of the runway is supported by 180 pillars , each pillar 50 meters height (about 17 floors), surprisingly , the runway design are for B-747.
Look at the cars parked below the runway
Look at the cars parked below the runway
Interview on CNBC with Warren Buffet (CEO of Berkshire Hathaway)
There was a one hour interview on CNBC with Warren Buffet, the second richest man who has donated $31 billion to charity.
Here are some very interesting aspects of his life:
1. He bought his first share at age 11 and he now regrets that he started too late!
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same small 3-bedroom house in mid-town Omaha , that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security people around him. 5. He never travels by private jet, although he owns the world's largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis. He has given his CEO's only two rules.
Rule number 1: do not lose any of your share holder's money.
Rule number 2: Do not forget rule number 1.
7. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch Television.
8. Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
His advice to young people : "Stay away from credit cards and invest in yourself and Remember:
A. Money doesn't create man but it is the man who created money.
B. Live your life as simple as you are.
C. Don't do what others say, just listen to them, but do what makes you feel good.
D. Don't go on brand name; just wear those things in which you feel comfortable.
E. Don't waste your money on unnecessary things; just spend on things that you really need.
F. After all it's your life, then why give others the chance to rule your life."
"No one can make you feel inferior without your permission, remember they are no better. "
Here are some very interesting aspects of his life:
1. He bought his first share at age 11 and he now regrets that he started too late!
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same small 3-bedroom house in mid-town Omaha , that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security people around him. 5. He never travels by private jet, although he owns the world's largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis. He has given his CEO's only two rules.
Rule number 1: do not lose any of your share holder's money.
Rule number 2: Do not forget rule number 1.
7. He does not socialize with the high society crowd. His past time after he gets home is to make himself some pop corn and watch Television.
8. Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
His advice to young people : "Stay away from credit cards and invest in yourself and Remember:
A. Money doesn't create man but it is the man who created money.
B. Live your life as simple as you are.
C. Don't do what others say, just listen to them, but do what makes you feel good.
D. Don't go on brand name; just wear those things in which you feel comfortable.
E. Don't waste your money on unnecessary things; just spend on things that you really need.
F. After all it's your life, then why give others the chance to rule your life."
"No one can make you feel inferior without your permission, remember they are no better. "
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