{LONGTERMINVESTORS} Fwd: RMF : What we are reading - Vol. 110

We start the article with a yet another insightful speech by RBI Governor Raghuram Rajan, where he shares his comprehensive yet radical views on the future of banking, with his thoughts specifically on Public sector banking industry.

 
A very interesting article by Economist on, how some world have become cashless in its truest form; it also identifies varying motivating factors for different countries to go cashless.  Notably, countries typically spend 0.5-1% of GDP in managing cash!
 
Another is an article on IMF paper that busts the common myth of lower crude prices being the primary driver of lower inflation in India.  The article, at the expense of sounding politically motivated, reasons out with data that global crude prices contributed just about 11% to the entire fall in inflation.
 
An article on the usual hot topic these days, called "Big Data" – however, this one makes a fine distinction with what we use it for, decides the duration of the economic moat.
 
What follows is a tale of the sweet tooth, which got sweeter for Mr Amit Verma of DS Group because of his hit product called "Pulse".  
 
With markets been in a dizzy momentum zone, few excerpts of pieces on investing perhaps could act as good recalls, at the expense of it being mundane:
-          A very radical and lateral view on the concept of margin of safety, which in some situations could become margin of danger
-          Top 6 Cognitive Biases by Sir Daniel Kahneman
-          A look back on his own 30 years of investing career by Mr Mauboussin
 
Next is a constructive case by PIMCO on investing in Emerging Market debt with fundamentals showing tentative signs of improvement. USD strength has abated, commodities have stabilized and the outlook for China, while bumpy, is one of muddle-through, not hard-landing. Growth is accelerating with high frequency variables pointing to stabilization and forward-looking indicators signaling a soft rebound in activity.
 
A very offbeat article on Olympics - 2016, which talks about various factors (Eg human body limit, climatic conditions) that work in break previous records more than just sheer endurance and strength.

On behalf of Reliance Mutual Fund

Regards,
Sunil Singhania (सुनीलसिंघानिया)
CIO – Equity

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