Sujata Burla's life took an ugly turn on June 9, 2001. On a pilgrimage to Shirdi, where the Sai Baba temple in Maharashtra is located, from Hyderabad, she met with an accident.
Four months later, the doctors and physiotherapists treating her told her she could not walk for the rest of her life. The accident had turned her into a paraplegic. It meant Sujata was immobile below the shoulders. She was just 21.
Soon people who she thought were her friends abandoned her and Sujata was left alone. Compounding her tragedy was her father's death in March 2004. Not one to be easily cowed down by her circumstances, she started learning about the stock markets that year.
Now she trades like a pro and earns anywhere between Rs 200,000 and Rs 250,000 every month. On a day like Wednesday, September 19, 2007, when the Nifty was up 186 points, Sujata made a cool Rs 600,000 in a single day. She has still not sold her position.
"I expect the Nifty to touch 4800 in the next two, three trading days. I will sell my position then," Sujata told this correspondent in a telephone conversation from her home in Hyderabad.
Sujata moves around in a wheelchair and does not regret this fact. Financial independence is what she strove for and that is exactly what she has got through sheer determination and discipline.
How do you cope with such a trauma?
Before, I could not even write or type. Now I have got used to it. I can easily type and trade on my computer and laptop.
In the first four months after my accident I did not even know I would never be able to walk again. I went into a depression feeling that this was the end of life for me.
Does your condition make you dependant on others?
I am the kind of person who doesn't like to depend on anybody -- whether financially, physically or mentally. So, it was very tough for me to physically depend on somebody. I soon realised that financial independence could get me much more freedom in life.
So I started thinking how I could earn money. I worked with my sister, who is a fashion designer, and learned a bit about it. I soon started a textile workshop where I employed 10 people. However, the workers took undue advantage of my physical disability leading to losses. Since I wanted to be independent I started moving towards stock market trading. The textile workshop business is now my secondary business.
How did you get into the stock markets?
I realised that if at all I have to succeed in life I would have to do something for which I don't have to depend on anybody. Through a friend of mine I came to know about the stock markets in 2004. It took me almost a year to understand the various nuances of the stock market and it was in 2005 that I actually started trading.
What was your first trading/investment experience like?
My first investment was in blue chip companies like Reliance Industries Hero Honda, ACC and IDBI. However, the Rs 100,000 that I invested did not earn me any returns. It was my first investment and I did not know when to sell or the right time to sell my stocks. That learning experience helped me to hone my skills in the stock markets.
How much do you make from trading in stocks now?
My turnover for a month is over Rs 3 crore. But my actual investment is only Rs 15 lakhs. I make anywhere between 10 to 15 per cent per of this investment per month. It is like I earn 20 to 30 per cent sometimes and lose 10 per cent at other times. This takes my average monthly return to 10 to 15 per cent every month of my total investment of Rs 15 lakhs.
Could you share your success mantras for our readers?
Read all the advice that you get from various business television channels, newspapers, friends who understand the stock markets but be extremely cautious and disciplined when you act on this advice.
Never extend your trading bets beyond your means. I speak to my friends; get investment and trading ideas from my brokerages (she is registered for online trading with Reliance Money, Indiabulls and Kotak Securities).
How would you identify yourself as a stock market player?
I am a short-term trader; I am surely not a long-term investor.
Do you trade intra-day?
Well, if my bets appreciate considerably then I take home my profits on the same day. Otherwise, I wait for my investments to bear at least 7 to 8 per cent returns before I actually sell it.
Intra-day trading, though, is very risky as most traders tend to burn their fingers trying to time the market. And I have lost quite a bit of money trading intra-day in the cash market, believe me.
How much have you deposited with all these brokerage companies?
As I told you earlier, my total deposit with all the three brokers is Rs 15 lakhs. Using this amount I buy Call Options within my overall limits. There is no concept of margin money in options. Whatever money I have earned till now is only through Option trading. You can do risk-less trading in Options using a small amount.
As a safe strategy I never write a Put Option. Put Options are very risky. That way I am a very safe trader. In Puts I can even make 50 per cent a month on my investments; but then I can lose the same amount too. My principle is if I make money I make it; I shouldn't lose money at all.
I usually write a Call Option on the Nifty. I am always long (buying first and then selling at a higher price to make profit) on the markets and whenever the market is too overbought I wait for the markets to cool down.
The last two days turned out to be very good for the stock markets. How much did you make in these two days?
Actually, it is celebration time for me. I made 80 per cent returns today (September 19, the Nifty was up 186 points or 4.09 per cent). Most of the Nifty Calls went up by 80 per cent today. However, I did not invest the entire Rs 15 lakhs because I am sitting on a bit of cash as the markets have run up too fast in the recent past. I invested only 50 per cent of Rs 15 lakhs on which I made an 80 per cent return (Editor's note: That's a cool Rs 600,000; don't rub your eyes in disbelief; you read it right!).
However, there are times when I lose a big amount of money in trading. Such gains happen only once in a lifetime. The losses that I make during the year sort of offsets such gains.
But remember that these things don't happen every other day. I have still not booked my profits. I am still holding on my positions. I plan to sell them after a day or two because I feel that the markets can still go up -- at least for the next two, three days -- based on the strong momentum. I am expecting the Nifty to go up to 4800 at least.
Actually, the target given by one of my brokerage houses is 4900 but I am going to book profits at 4800 levels. Too much greed is also not good, is it?
Moreover, it is the festive season and Diwali is just round the corner. Normally, the markets go up during Diwali. There will be some profit booking (a situation when a trader sells her/his stocks at a profit) tomorrow and the day after that but the general mood is likely to remain bullish till Diwali. I don't expect a market crash or correction till Diwali.
Do you stay with your family?
I stay with my mother and cousin Priya. My father passed away on March 20, 2004. I have a sister and two brothers but they are all married and lead separate lives.
Do you have friends?
Before the accident I had many friends but they all ran away after my accident. They were all false friends. People like this go where there is money, success and happiness. People like these don't chase failures.
After my accident I have a different set of friends. I have a few friends now but they are my true friends. They have been with me through my bad times. They really care for me. I can count Pradeep and Ashish amongst my true friends now.
Wednesday, December 26, 2007
At 18, he runs an anti-hacking company
At 18 years of age he is one of the world's youngest Microsoft Certified Systems administrators. His claim to fame, however, stems from the fact that his organisation endeavours to reduce cyber crime.
He gives lectures to officers of the Indian Army and Indian corporates on how to safeguard their networks and the Internet infrastructure backbone from potential raids by malicious cyber hackers.
As a mark of appreciation, Microsoft Corporation chairman Bill Gates [Images] invited him to the launch of Biztalk servers in India in 2006.
Meet Vineet Kumar, the founder and CEO of the Global Ethical Hackers Association (GEHA) and the National Anti-hacking Group (NAG); the latter is a non-government organisation which 10,000 hackers have joined as members since its inception back in 2003).
Vineet and these NAG members belong to a category of hackers that take pride in calling themselves 'whitehat hackers' These are ethical individuals who are opposed to the abuse of computer systems by malicious hackers known as 'blackhats'.
Interestingly, despite his expertise in a field as arcane as hacking, Vineet has had no formal training in his trade. He was attracted to computers as a child and managed to get the hang of surfing the Internet and chatting online. During one such session in an online chatroom, he met his mentor, who he refuses to name.
"He was a 'greyhat' hacker," reminisces Vineet. "He was based out of Chicago and gave me hacking lessons over IRC (Internet Relay Chat)."
How does Vineet know that his mentor was somebody based out of Chicago?
"I used some of the techniques he taught me on him," chuckles Vineet, explaining that one can obtain the IP address (Internet Protocol address) of a machine without its owner knowing. "I did it for fun and to know if it actually works."
It's hardly surprising, then, to learn that this mischievous streak caused Vineet's teachers to brand him 'naughtiest kid in school' back when he attended the Army High School in Ranchi, his hometown. By his own admission, he misses those school days. Today he is pursuing a four-year course in Information Technology and Infrastructure Management Services, ITIMs, from Sikkim Manipal University.
Vineet spoke to rediff.com's Prasanna D Zore about ethical hacking, his responsibilities as CEO of GEHA and NAG and the pressure of handling such a career while he is still in his teens.
So you are an ethical hacker. What exactly does that mean and what made you pursue becoming one?
I prefer to be called a cyber/ information security advisor. Ethical hackers are hackers who work for a good cause -- in other words, they are security researchers who plug the vulnerabilities and loopholes of online networks.
I do not concern myself with the philosophy of ethics, but with the simple knowledge of right and wrong engrained in my character. I work in favour of national interest, to save my country from cyber criminals who have a personal axe to grind.
You are only 18 now and CEO of the National Anti-hacking Group, NAG. What responsibilities does the position entail?
My responsibilities include managing the team, security projects, conferences, seminars, consultancy/ advisory assignments, taking important decisions and enabling the smooth functioning of the organisation.
You mentioned that you are pursuing a four-year course in Information Technology and Infrastructure Management Services from Sikkim Manipal University. Doesn't being CEO of an organisation interfere with your academics?
Yes, at times I do feel that my job responsibility interferes with my academic success. However, my ambition to be different from others belonging to my age group gives me the strength and will to work. Nothing worth achieving comes without concentrated effort.
Expert speak: Useful tips to beat PC hackers
How did you manage to accomplish so much at such a young age?
I think, that old adage holds true -- "Where there is a will there is a way". I also believe that at 18, I am at the most creative stage in my life -- I'm young, imaginative, full of positivity and inspired by the potential that the future holds for me.
Who are the people that are benefited by the NAG initiative?
We constantly try to solve social problems that stem from online activities by creating awareness in the field of cyber/ information security. Our efforts serve to protect children, students, families, individuals, and organisations (government as well as non-government) from the unseen criminals of the wired and wireless worlds, because we genuinely believe that social conscientiousness is primary to achieving a peaceful cyber co-existence.
We also voluntarily render our security services on a regular basis to providers who cater to society and the service sectors. The target beneficiaries includes schools, colleges, universities, educational institutions, financial institutions, the government sector, national and multinational organisations.
Our social commitment is to "enable people to use information and communication technology without fear". Our issue concerns not just our country, but the world -- today, a wired or wireless existence is almost as important as the physical.
Can you narrate any incident where NAG helped protect India from a dangerous cyber attack?
We protect many organisations, both government as well as non-government, from being violated. I am, however, bound to keep quiet by my professional commitment and therefore cannot disclose any information, nor the nature of my work. My friend Yash Kadakia and I have created a special security brigade to plug the vulnerabilities and loopholes in websites and networks and to provide them with timely guidance and security advice. According to a recent survey we conducted on Indian websites, 90 percent of them are vulnerable to violation; some of them possess critical information that should not be compromised under any circumstances. I would say that cyber security is still not given a priority in India.
What's the difference between a white hat hacker and a black hat hacker?
The basic difference is not in the nature of the work but in their objectives and motives. The techniques and strategies used by both are the same. However, whitehats work in the positive interest of online security, whereas blackhats work to disrupt it. A white hat generally focuses on securing IT systems, whereas a black hat will focus on breaking into them.
You are a regular on the lecturer circuit. How did it begin? What kind of lectures do you give and how do they benefit your audiences?
It all started a couple of years ago when I was attending Ranchi's Army High School. My father is an army officer and his colleagues, my teachers and friends all recognised the hidden potential in me. That's how I began giving lectures to create awareness on cyber security.
I make the audience aware of the techniques adopted by cyber criminals and provide tips on how they can keep themselves secure. Those who fall prey to hackers are usually victims of ignorance -- my mission is to dispel the darkness of ignorance by kindling the light of knowledge.
The audience usually accepts the stark truth that both the wired and the wireless worlds are vulnerable. They exhibit interest in knowing more about security and are ready to pay a price for a secure existence. They also appreciate my social initiatives.
Can you tell us something about your childhood? Who is your inspiration and what are the respective futures of Vineet Kumar the white hat and Vineet Kumar the student?
I was always an average student, but was quite dedicated when it came to computers. Sometimes I spent all night working on my machine and would end up sleeping in the classroom! My teachers branded me naughtiest kid in the school -- I was always up to some mischief, but the strong discipline enforced by them ool helped me follow a straight path. How I miss those memorable days!
AS for my future, Vineet Kumar the white hat and Vineet Kumar the student are the same person. As a white hat I provide security to Internet users. As Vineet Kumar the student, I try to increase my knowledge. These two aspects of my life are like two sides of one coin -- one manifests work, the other stands for growth and the urge to make a success of myself.
He gives lectures to officers of the Indian Army and Indian corporates on how to safeguard their networks and the Internet infrastructure backbone from potential raids by malicious cyber hackers.
As a mark of appreciation, Microsoft Corporation chairman Bill Gates [Images] invited him to the launch of Biztalk servers in India in 2006.
Meet Vineet Kumar, the founder and CEO of the Global Ethical Hackers Association (GEHA) and the National Anti-hacking Group (NAG); the latter is a non-government organisation which 10,000 hackers have joined as members since its inception back in 2003).
Vineet and these NAG members belong to a category of hackers that take pride in calling themselves 'whitehat hackers' These are ethical individuals who are opposed to the abuse of computer systems by malicious hackers known as 'blackhats'.
Interestingly, despite his expertise in a field as arcane as hacking, Vineet has had no formal training in his trade. He was attracted to computers as a child and managed to get the hang of surfing the Internet and chatting online. During one such session in an online chatroom, he met his mentor, who he refuses to name.
"He was a 'greyhat' hacker," reminisces Vineet. "He was based out of Chicago and gave me hacking lessons over IRC (Internet Relay Chat)."
How does Vineet know that his mentor was somebody based out of Chicago?
"I used some of the techniques he taught me on him," chuckles Vineet, explaining that one can obtain the IP address (Internet Protocol address) of a machine without its owner knowing. "I did it for fun and to know if it actually works."
It's hardly surprising, then, to learn that this mischievous streak caused Vineet's teachers to brand him 'naughtiest kid in school' back when he attended the Army High School in Ranchi, his hometown. By his own admission, he misses those school days. Today he is pursuing a four-year course in Information Technology and Infrastructure Management Services, ITIMs, from Sikkim Manipal University.
Vineet spoke to rediff.com's Prasanna D Zore about ethical hacking, his responsibilities as CEO of GEHA and NAG and the pressure of handling such a career while he is still in his teens.
So you are an ethical hacker. What exactly does that mean and what made you pursue becoming one?
I prefer to be called a cyber/ information security advisor. Ethical hackers are hackers who work for a good cause -- in other words, they are security researchers who plug the vulnerabilities and loopholes of online networks.
I do not concern myself with the philosophy of ethics, but with the simple knowledge of right and wrong engrained in my character. I work in favour of national interest, to save my country from cyber criminals who have a personal axe to grind.
You are only 18 now and CEO of the National Anti-hacking Group, NAG. What responsibilities does the position entail?
My responsibilities include managing the team, security projects, conferences, seminars, consultancy/ advisory assignments, taking important decisions and enabling the smooth functioning of the organisation.
You mentioned that you are pursuing a four-year course in Information Technology and Infrastructure Management Services from Sikkim Manipal University. Doesn't being CEO of an organisation interfere with your academics?
Yes, at times I do feel that my job responsibility interferes with my academic success. However, my ambition to be different from others belonging to my age group gives me the strength and will to work. Nothing worth achieving comes without concentrated effort.
Expert speak: Useful tips to beat PC hackers
How did you manage to accomplish so much at such a young age?
I think, that old adage holds true -- "Where there is a will there is a way". I also believe that at 18, I am at the most creative stage in my life -- I'm young, imaginative, full of positivity and inspired by the potential that the future holds for me.
Who are the people that are benefited by the NAG initiative?
We constantly try to solve social problems that stem from online activities by creating awareness in the field of cyber/ information security. Our efforts serve to protect children, students, families, individuals, and organisations (government as well as non-government) from the unseen criminals of the wired and wireless worlds, because we genuinely believe that social conscientiousness is primary to achieving a peaceful cyber co-existence.
We also voluntarily render our security services on a regular basis to providers who cater to society and the service sectors. The target beneficiaries includes schools, colleges, universities, educational institutions, financial institutions, the government sector, national and multinational organisations.
Our social commitment is to "enable people to use information and communication technology without fear". Our issue concerns not just our country, but the world -- today, a wired or wireless existence is almost as important as the physical.
Can you narrate any incident where NAG helped protect India from a dangerous cyber attack?
We protect many organisations, both government as well as non-government, from being violated. I am, however, bound to keep quiet by my professional commitment and therefore cannot disclose any information, nor the nature of my work. My friend Yash Kadakia and I have created a special security brigade to plug the vulnerabilities and loopholes in websites and networks and to provide them with timely guidance and security advice. According to a recent survey we conducted on Indian websites, 90 percent of them are vulnerable to violation; some of them possess critical information that should not be compromised under any circumstances. I would say that cyber security is still not given a priority in India.
What's the difference between a white hat hacker and a black hat hacker?
The basic difference is not in the nature of the work but in their objectives and motives. The techniques and strategies used by both are the same. However, whitehats work in the positive interest of online security, whereas blackhats work to disrupt it. A white hat generally focuses on securing IT systems, whereas a black hat will focus on breaking into them.
You are a regular on the lecturer circuit. How did it begin? What kind of lectures do you give and how do they benefit your audiences?
It all started a couple of years ago when I was attending Ranchi's Army High School. My father is an army officer and his colleagues, my teachers and friends all recognised the hidden potential in me. That's how I began giving lectures to create awareness on cyber security.
I make the audience aware of the techniques adopted by cyber criminals and provide tips on how they can keep themselves secure. Those who fall prey to hackers are usually victims of ignorance -- my mission is to dispel the darkness of ignorance by kindling the light of knowledge.
The audience usually accepts the stark truth that both the wired and the wireless worlds are vulnerable. They exhibit interest in knowing more about security and are ready to pay a price for a secure existence. They also appreciate my social initiatives.
Can you tell us something about your childhood? Who is your inspiration and what are the respective futures of Vineet Kumar the white hat and Vineet Kumar the student?
I was always an average student, but was quite dedicated when it came to computers. Sometimes I spent all night working on my machine and would end up sleeping in the classroom! My teachers branded me naughtiest kid in the school -- I was always up to some mischief, but the strong discipline enforced by them ool helped me follow a straight path. How I miss those memorable days!
AS for my future, Vineet Kumar the white hat and Vineet Kumar the student are the same person. As a white hat I provide security to Internet users. As Vineet Kumar the student, I try to increase my knowledge. These two aspects of my life are like two sides of one coin -- one manifests work, the other stands for growth and the urge to make a success of myself.
'I became a successful CEO at 30'
How many of us can think of retiring at 30? And actually achieve it?
If you are Anil Rego, CEO of Right Horizons, an investment advisory and wealth management firm in Bangalore, now Bengalooru, then it is eminently possible.
"I'd always wanted to be an entrepreneur," says Anil, whose company with over 50 employees now manages Rs 75 crore for his clients, over the phone. Right from the time he joined Wipro [Get Quote], first as business planning manager and then in the merger & acquisition team, Anil was sure that one day he would build up his own organisation some day.
And that day came five years earlier than what he had targeted for. Being the smart entrepreneur he is Anil knew that starting his own business without keeping aside funds for his family would be a risky proposition. He was able to do that when he turned 30.
"My plan was to retire from corporate life and start on my own by 35 years, even before I joined Wipro. I had set myself a target of hitting a certain capital required for the family's monthly expenses, which I hit earlier and hence 'retired' and started 'Right Horizons' at 30 years," says Anil.
Anil considers the legendary investor Warren Buffet and Wipro Chairman Azim Premji as his inspiration. He admires Infosys founder N R Narayanmurthy for his ability to build a successful business. The Right Horizons CEO spoke to rediff.com's Prasanna D Zore about his passion for investments, the challenges he faced while starting Right Horizons, and the qualities that are needed for a person to build a successful business. And, of course, how he retired at age 30!
Give us a brief sketch of your career in the industry and the company you worked with before you founded your own company.
My first job with Wipro happened to be my last job as well. I had a reasonably long tenure at Wipro -- of around 7 years. After my stint in business planning, I was part of the initial merger and acquisition team of Wipro. During that spell, I realised that we are so busy with our work that we tend to neglect our own financial management. That's where the thought of Right Horizons was born.
I am from Mangalore, though I was born and brought up in Bangalore. I did my pre-university and degree at St Joseph's Arts and Science College there.
Subsequently, I did my CFA/MBA from ICFAI Business School, Bangalore. My first job was in Wipro Infotech (now it is Wipro Technologies), as a business-planning manager.
Did you always have a passion for investments? When did you start investing?
Investments were always my passion. In fact, I started investing when I was studying in pre-university. I took money from my mother and started, after which, I never looked behind. When I took up my career, the only course I applied for was the CFA/MBA. However busy and hectic the schedule was at office, I used to keenly watch and invest in the market, with most of my research being done late in the night.
How did you succeed in retiring at 30? When did you decide to establish Right Horizons? Was it a struggle -- what disappointments did you have to cope with?
My plan was to retire from corporate life and start on my own by 35 years, even before I joined Wipro.
I had set myself a target of hitting a certain capital required for the family's monthly expenses, which I hit earlier and hence 'retired' and started Right Horizons at 30. This was possible because of planned and regular investments, right from the start. In fact, I had to plan for it in innovative ways, since there was no pension plan starting at 35!
I felt that there was a need for a one-stop-shop for all my financial needs. I spent too much time working with multiple players. I also found there was no one taking care of investors across financial planning, taxation, multiple investment avenues, tracking and providing regular and online reporting.
Most of the advisors did not have a financial background, which I felt was important even in insurance, which has evolved into market-linked instruments. I have tried to build those features and benefits, which I was looking for as an individual investor, intp Right Horizons.
I also believe that Indian equities should provide phenomenal returns and I saw this trend early and took advantage of the opportunity. Since I started at the right time, the journey has been fairly smooth. The biggest challenge we had in initial years was to attract good, quality talent, which is a prerequisite to success in any business.
When faced with a new challenge, how do you set about taking it on?
I have always set my goals first and then planned how to get there. We have taken up very challenging goals and have achieve them in reasonable time. The most common reason for failure, in my view, is the low priority given to 'tracking' one's progress. When we normally set out, we also need to outline parameters that we will track.
What qualities set apart success stories like yours from the average?
The factors that have helped us achieve what we have are:
~ Always dream and work towards converting your dreams into reality.
~ Formulate a plan to achieve your dreams, and more importantly, track it.
~ Do what is right for the customer -- for example we have always believed in doing what is right for the customer even if it has a revenue impact on us. My view is that in the long term, this is what will create value for us, as the customer sees the difference and remains with us for life.
~ Have passion and focus in what you do -- when you know what you are doing, and you enjoy what you are doing, this comes automatically.
~ Hard work -- I am always on the job.
~ Work as a team: Alone, one can only do so much.
What kind of criticism have you faced in the course of your career, and how have you learned to deal with it?
There were a lot of skeptical people, who felt I was making a big mistake by moving out of a great company, with a fantastic salary and growth prospects. Also, the investment field was full of individual advisors, and many vendors wanted to meet up with me initially out of sheer inquisitiveness. In our business, competition comes at various levels -- from unstructured individual agents and advisors, from large banks and financial institutions, and at the high end from multinational banks. I remained focused towards building an organisation in a highly competitive environment, and that seems to have paid-off.
Did you have a mentor, and if so, how did he/ she inspire you to steer your career in the right direction?
There are a lot of people and companies that have inspired me. As I would think for most investment professionals -- Warren Buffet, Chairman, Berkshire Hathaway -- has been inspiring. Mr Azim Premji chairman of Wipro, has also been a source of inspiration in terms of importance given to time, attention to detail, emphasis on process and quality, and his drive for cutting unnecessary costs.
I have admired companies like Infosys for their strategic thinking and determining the course of the company a lot in advance, through great planning. Also, Mr Narayana Murthy for building an organisation that is not dependant on any one individual and the wealth building across all stakeholders.
How has your career impacted your personal life? Do you feel like you've had to sacrifice a few personal pleasures in favour of your job?
Despite hectic work hours, I do spend quality time with my family. I come home a little early and spend time with them in the evenings and then start my 'second shift' work from 9 pm to about midnight.
Having come such a long way in your career in such a short span of time, what do you think remains to be achieved? Which dreams are yet to be realised career-wise?
At this time, I want to only focus on Right Horizons. In the future, I would like to set up a seed capital fund to help other entrepreneurs achieve their goals and work on social causes. Currently, we provide senior citizens free, tax filing, etc. I would also like to work toward helping with the education of poor children.
What tips do you have for today's youngsters looking at wealth management as a good career opportunity?
It is great career path to take because the amount of learning it provides. Since it is across multiple areas like taxation, financial planning, etc and works across multiple products like insurance, mutual funds, equity, etc, anyone who has built up a good knowledge across these verticals, is difficult to replace. This provides great career growth, both monetary and non-monetary.
What makes Right Horizons a great place to work?
Creating a common vision with the employee: Employees are part of decision making, sharing of company plans and strategies with employees.
Providing an environment of learning and providing challenging roles: High learning through continuous and in-depth training provided by top management on a regular basis, providing opportunity for leadership.
Compensation, reward and recognition programs -- both monetary and non-monetary: Competitive compensation, periodic recognition of outstanding performers, team parties/offsite team building get-togethers, and wealth-creation program.
Creating a family environment: Not much hierarchy, informal interactions, assisting team on personal issues
Can you tell me more about Right Horizons?
Right Horizons is an end-to-end investment advisory and wealth management firm that focuses on providing a solution that is specific to customers' needs. It works towards understanding financial goals of customers and helping them to attain those goals.
Our effort is to free the customer from her/his financial matters, and to help them achieve their dreams. We follow a de-risked financial model and though we use higher risk avenues, we do so on a lower risk basis.
We have a unique corporate help desk model where we do educative presentations on taxes and investments, set up support helplines by mail and phone, set up daily helpdesks on campus for employees, manage a section of their intranets -- we have experience in doing this for a corporate with over 50,000 employees across multiple locations.
We have branches in Bangalore, Hyderabad and Chennai and have grown to be 50 strong, in less than 4 years.
If you are Anil Rego, CEO of Right Horizons, an investment advisory and wealth management firm in Bangalore, now Bengalooru, then it is eminently possible.
"I'd always wanted to be an entrepreneur," says Anil, whose company with over 50 employees now manages Rs 75 crore for his clients, over the phone. Right from the time he joined Wipro [Get Quote], first as business planning manager and then in the merger & acquisition team, Anil was sure that one day he would build up his own organisation some day.
And that day came five years earlier than what he had targeted for. Being the smart entrepreneur he is Anil knew that starting his own business without keeping aside funds for his family would be a risky proposition. He was able to do that when he turned 30.
"My plan was to retire from corporate life and start on my own by 35 years, even before I joined Wipro. I had set myself a target of hitting a certain capital required for the family's monthly expenses, which I hit earlier and hence 'retired' and started 'Right Horizons' at 30 years," says Anil.
Anil considers the legendary investor Warren Buffet and Wipro Chairman Azim Premji as his inspiration. He admires Infosys founder N R Narayanmurthy for his ability to build a successful business. The Right Horizons CEO spoke to rediff.com's Prasanna D Zore about his passion for investments, the challenges he faced while starting Right Horizons, and the qualities that are needed for a person to build a successful business. And, of course, how he retired at age 30!
Give us a brief sketch of your career in the industry and the company you worked with before you founded your own company.
My first job with Wipro happened to be my last job as well. I had a reasonably long tenure at Wipro -- of around 7 years. After my stint in business planning, I was part of the initial merger and acquisition team of Wipro. During that spell, I realised that we are so busy with our work that we tend to neglect our own financial management. That's where the thought of Right Horizons was born.
I am from Mangalore, though I was born and brought up in Bangalore. I did my pre-university and degree at St Joseph's Arts and Science College there.
Subsequently, I did my CFA/MBA from ICFAI Business School, Bangalore. My first job was in Wipro Infotech (now it is Wipro Technologies), as a business-planning manager.
Did you always have a passion for investments? When did you start investing?
Investments were always my passion. In fact, I started investing when I was studying in pre-university. I took money from my mother and started, after which, I never looked behind. When I took up my career, the only course I applied for was the CFA/MBA. However busy and hectic the schedule was at office, I used to keenly watch and invest in the market, with most of my research being done late in the night.
How did you succeed in retiring at 30? When did you decide to establish Right Horizons? Was it a struggle -- what disappointments did you have to cope with?
My plan was to retire from corporate life and start on my own by 35 years, even before I joined Wipro.
I had set myself a target of hitting a certain capital required for the family's monthly expenses, which I hit earlier and hence 'retired' and started Right Horizons at 30. This was possible because of planned and regular investments, right from the start. In fact, I had to plan for it in innovative ways, since there was no pension plan starting at 35!
I felt that there was a need for a one-stop-shop for all my financial needs. I spent too much time working with multiple players. I also found there was no one taking care of investors across financial planning, taxation, multiple investment avenues, tracking and providing regular and online reporting.
Most of the advisors did not have a financial background, which I felt was important even in insurance, which has evolved into market-linked instruments. I have tried to build those features and benefits, which I was looking for as an individual investor, intp Right Horizons.
I also believe that Indian equities should provide phenomenal returns and I saw this trend early and took advantage of the opportunity. Since I started at the right time, the journey has been fairly smooth. The biggest challenge we had in initial years was to attract good, quality talent, which is a prerequisite to success in any business.
When faced with a new challenge, how do you set about taking it on?
I have always set my goals first and then planned how to get there. We have taken up very challenging goals and have achieve them in reasonable time. The most common reason for failure, in my view, is the low priority given to 'tracking' one's progress. When we normally set out, we also need to outline parameters that we will track.
What qualities set apart success stories like yours from the average?
The factors that have helped us achieve what we have are:
~ Always dream and work towards converting your dreams into reality.
~ Formulate a plan to achieve your dreams, and more importantly, track it.
~ Do what is right for the customer -- for example we have always believed in doing what is right for the customer even if it has a revenue impact on us. My view is that in the long term, this is what will create value for us, as the customer sees the difference and remains with us for life.
~ Have passion and focus in what you do -- when you know what you are doing, and you enjoy what you are doing, this comes automatically.
~ Hard work -- I am always on the job.
~ Work as a team: Alone, one can only do so much.
What kind of criticism have you faced in the course of your career, and how have you learned to deal with it?
There were a lot of skeptical people, who felt I was making a big mistake by moving out of a great company, with a fantastic salary and growth prospects. Also, the investment field was full of individual advisors, and many vendors wanted to meet up with me initially out of sheer inquisitiveness. In our business, competition comes at various levels -- from unstructured individual agents and advisors, from large banks and financial institutions, and at the high end from multinational banks. I remained focused towards building an organisation in a highly competitive environment, and that seems to have paid-off.
Did you have a mentor, and if so, how did he/ she inspire you to steer your career in the right direction?
There are a lot of people and companies that have inspired me. As I would think for most investment professionals -- Warren Buffet, Chairman, Berkshire Hathaway -- has been inspiring. Mr Azim Premji chairman of Wipro, has also been a source of inspiration in terms of importance given to time, attention to detail, emphasis on process and quality, and his drive for cutting unnecessary costs.
I have admired companies like Infosys for their strategic thinking and determining the course of the company a lot in advance, through great planning. Also, Mr Narayana Murthy for building an organisation that is not dependant on any one individual and the wealth building across all stakeholders.
How has your career impacted your personal life? Do you feel like you've had to sacrifice a few personal pleasures in favour of your job?
Despite hectic work hours, I do spend quality time with my family. I come home a little early and spend time with them in the evenings and then start my 'second shift' work from 9 pm to about midnight.
Having come such a long way in your career in such a short span of time, what do you think remains to be achieved? Which dreams are yet to be realised career-wise?
At this time, I want to only focus on Right Horizons. In the future, I would like to set up a seed capital fund to help other entrepreneurs achieve their goals and work on social causes. Currently, we provide senior citizens free, tax filing, etc. I would also like to work toward helping with the education of poor children.
What tips do you have for today's youngsters looking at wealth management as a good career opportunity?
It is great career path to take because the amount of learning it provides. Since it is across multiple areas like taxation, financial planning, etc and works across multiple products like insurance, mutual funds, equity, etc, anyone who has built up a good knowledge across these verticals, is difficult to replace. This provides great career growth, both monetary and non-monetary.
What makes Right Horizons a great place to work?
Creating a common vision with the employee: Employees are part of decision making, sharing of company plans and strategies with employees.
Providing an environment of learning and providing challenging roles: High learning through continuous and in-depth training provided by top management on a regular basis, providing opportunity for leadership.
Compensation, reward and recognition programs -- both monetary and non-monetary: Competitive compensation, periodic recognition of outstanding performers, team parties/offsite team building get-togethers, and wealth-creation program.
Creating a family environment: Not much hierarchy, informal interactions, assisting team on personal issues
Can you tell me more about Right Horizons?
Right Horizons is an end-to-end investment advisory and wealth management firm that focuses on providing a solution that is specific to customers' needs. It works towards understanding financial goals of customers and helping them to attain those goals.
Our effort is to free the customer from her/his financial matters, and to help them achieve their dreams. We follow a de-risked financial model and though we use higher risk avenues, we do so on a lower risk basis.
We have a unique corporate help desk model where we do educative presentations on taxes and investments, set up support helplines by mail and phone, set up daily helpdesks on campus for employees, manage a section of their intranets -- we have experience in doing this for a corporate with over 50,000 employees across multiple locations.
We have branches in Bangalore, Hyderabad and Chennai and have grown to be 50 strong, in less than 4 years.
Monday, December 17, 2007
Friday, December 14, 2007
Narayana Murthy
One of the founders of Infosys Technologies Limited; Chosen as the World Entrepreneur of the Year - 2003 by Ernst and Young
Narayana Murthy is the Non-Executive Chairman and Chief Mentor of Infosys Technologies Limited. He is a living legend and an epitome of the fact that honesty, transparency, and moral integrity are not at variance with business acumen. He set new standards in corporate governance and morality when he stepped down as the Executive Chairman of Infosys at the age of 60.
Born on August 20, 1946, N.R. Narayana Murthy is a B.E. Electrical from University of Mysore (1967) and M.Tech from IIT Kanpur (1969). Narayan Murthy began his career with Patni Computer Systems in Pune. In 1981, Narayana Murthy founded Infosys with six other software professionals. In 1987, Infosys opened its first international office in U.S.A.
With the liberalization of Indian economy in 1990s, Infosys grew rapidly. In 1993, the company came up with its IPO. In 1995, Infosys set up development centers across cities in India and in 1996, it set up its first office in Europe in Milton Keynes, UK. In 1999, Infosys became the first Indian company to be listed on NASDAQ. Today (in 2006), Infosys has a turnover of more than $ 2billion and has employee strength of over 50,000. In 2002, Infosys was ranked No. 1 in the "Best Employers in India 2002" survey conducted by Hewitt and in the Business World's survey of "India's Most Respected Company." Conducted in the same year.
Along with the growth of Infosys, Narayana Moorthy too has grown in stature. He has received many honors and awards. In June 2000, Asiaweek magazine featured him in a list of Asia's 50 Most Powerful People. In 2001, Narayana Murthy was named by TIME/CNN as one of the 25 most influential global executives. He was the first recipient of the Indo-French Forum Medal (2003) and was voted the World Entrepreneur of the Year - 2003 by Ernst and Young. The Economist ranked Narayana Murthy eighth on the list of the 15 most admired global leaders (2005) and Narayan Murthy also topped the Economic Times Corporate Dossier list of India's most powerful CEOs for two consecutive years - 2004 and 2005.
Narayana Murthy is the Non-Executive Chairman and Chief Mentor of Infosys Technologies Limited. He is a living legend and an epitome of the fact that honesty, transparency, and moral integrity are not at variance with business acumen. He set new standards in corporate governance and morality when he stepped down as the Executive Chairman of Infosys at the age of 60.
Born on August 20, 1946, N.R. Narayana Murthy is a B.E. Electrical from University of Mysore (1967) and M.Tech from IIT Kanpur (1969). Narayan Murthy began his career with Patni Computer Systems in Pune. In 1981, Narayana Murthy founded Infosys with six other software professionals. In 1987, Infosys opened its first international office in U.S.A.
With the liberalization of Indian economy in 1990s, Infosys grew rapidly. In 1993, the company came up with its IPO. In 1995, Infosys set up development centers across cities in India and in 1996, it set up its first office in Europe in Milton Keynes, UK. In 1999, Infosys became the first Indian company to be listed on NASDAQ. Today (in 2006), Infosys has a turnover of more than $ 2billion and has employee strength of over 50,000. In 2002, Infosys was ranked No. 1 in the "Best Employers in India 2002" survey conducted by Hewitt and in the Business World's survey of "India's Most Respected Company." Conducted in the same year.
Along with the growth of Infosys, Narayana Moorthy too has grown in stature. He has received many honors and awards. In June 2000, Asiaweek magazine featured him in a list of Asia's 50 Most Powerful People. In 2001, Narayana Murthy was named by TIME/CNN as one of the 25 most influential global executives. He was the first recipient of the Indo-French Forum Medal (2003) and was voted the World Entrepreneur of the Year - 2003 by Ernst and Young. The Economist ranked Narayana Murthy eighth on the list of the 15 most admired global leaders (2005) and Narayan Murthy also topped the Economic Times Corporate Dossier list of India's most powerful CEOs for two consecutive years - 2004 and 2005.
Subscribe to:
Posts (Atom)