GCNI Convention 19: Inauguration and Dr. Bibek Debroy

The hallmark of a great national convention lies in the quality of speakers especially the inaugural speaker. GCNI Convention19 had stellar speakers exemplified by Dr. Bibek Debroy, the inaugural speaker at the convention.  The other speakers at the GCNI Convention19 inaugural session included Dr. Uddesh Kohli, Senior Advisor, UN Global Compact, Renata Dessallien, UN Resident Coordinator in India, Shashi Shanker, President GCNI & CMD, ONGC Group of Companies, Rajeev Dubey Chair-GCNI Present National Convention & Group President (HR & Corporate Services) & CEO (After -Market Sector) Member of the Group Mahindra & Mahindra Ltd. and Vishvesh Prabhakar, MD-Operations & Sustainability, Accenture Strategy and Kamal Singh, Executive Director, GCNI. In my subsequent article we will look at length at many more moderators and speakers. Refer to my YouTube channel Nish Malhotra for videos of my interaction with moderators and speakers at the convention. Cover photo of all inaugural speakers at the GCNI Convention 19. Continue reading “GCNI Convention 19: Inauguration and Dr. Bibek Debroy”

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Art of Blended Finance and SDGs

Blended Finance will play a critical role in achieving the target of Sustainable Development Goals (SDGs) by 2030. Going forward, there will be more synergies between Blended Finance and SDGs in the development sector. Blended Finance not to be confused with bending financeis fast becoming an important and potent tool for bridging the yearly $2.5tr gap to meet the UN Sustainable Development Goals (SDGs) target by 2030. Blended Finance is not a panacea for the global development crisis, but stills works as an innovative way to pool in commercial capital to aid risk-adjusted return for development projects.

OECD defines blended finance as the strategic use of development finance for the mobilization of additional finance towards sustainable development in developing countries. This is a defining change in the scope of blended finance from its work as various financial structuring instruments to its strategic use as a form of finance to eradicate social inequity. The means to attract additional capital for implementation of SDGs through governments, foundations, development finance institutions through concessional (soft loans with lower interest rates and/or longer repayment duration) or non-concessional resources or through public or private relationship gives a defining new policy perspective to blended finance.

Pic Source: Convergence Finance
Continue reading “Art of Blended Finance and SDGs”
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Math of fat and weight loss: Is there an arbitrage ?

Many fitness enthusiasts might not be aware that fat has a mathematical equation.  Have you ever wondered how does weight loss happen ? Welcome to an intersection of science, mathematics and  weight loss. Coming soon mathematics of fat and the art behind weight loss…

I shared this video with a few people before I decided to post here. The equation of human fat is C55H104O6.  The article is intended to be a lot on fundamentals of physics and will try to complete the article by tomorrow. Till then, watch this informative video…

 

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The beauty of e…

Sharing one of the most insightful and informative videos on the meaning of e. e is commonly used in natural logarithms and in computing continuous compounding. In layman terms,  e is the greatest possible result after continuously compounding one hundred percent growth over one time period…A must watch video…

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Exchange Traded Funds: Rise of Passive Investing…Series Begins

This article has first posted here on July, 18 2017. The present article includes updates on how the ETF market size has increased over the years. The article has been elaborated with videos etc.

ETF also known as Exchange Traded Funds are on a meteoric rise globally. According to a report by PWC, ETF’s in the US is going to grow to $5.9T by 2021, a whopping 23% cumulative annual growth compared to $1.6T in Europe and $560B in Asia. ETF’s are passive investment products which track an index. Exchange Traded Funds are linked to different asset classes like equities and commodities. In the US, S&P 500 would be a broad equity index so an ETF linked to S&P 500 would replicate this index. Replication here means it would track the index. ETF would not outperform the underlying index i.e. S&P 500 but rather deliver similar returns. Let’s understand a few concepts here.

Alpha means outperforming the underlying index. Mutual funds form a collective pool of underlying assets benchmarked to various indices; aim to outperform the benchmark. Example, Equity mutual funds in the US, benchmark equity indices like NASDAQ, S&P 500. An investor pays a fund management fees to the fund house to deliver superior returns compared to the market. If S&P 500 delivers a return of 10% a year, an open-ended mutual fund linked to S&P 500 is expected to return a rate higher than 10%. Hypothetically if the fund returns a 15% return, the fund has an alpha of 5% i.e. the excess return compared to the benchmark index. There are many ways to measure superior return, usually, known as a risk-adjusted return. Risk-Adjusted Returns are the Sharpe Ratio, Treynor Ratio etc. You could refer tutorials to understand the ratios. One key measure to calculate risk-adjusted return is to understand a term known as Beta. Continue reading “Exchange Traded Funds: Rise of Passive Investing…Series Begins”

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Aadhaar Inclusion and Causality Inference

According to a report published today in Economic Times, 92% of the population in India (based on 2018 consensus) with nearly all adults barring 3.5 million have an Aadhaar card. This is a phenomenal achievement in bringing underprivileged people for social and financial inclusion. Aadhaar card’s unique identification number will soon work as a social security number for the population. Making aadhaar card essential for all monetary dealings ultimately aids in widening tax bracket. Over a period of time, casual inference using multivariate analysis will help in measuring the social impact of aadhaar inclusion.

Coming to multivariate analysis which is correlation analysis using multiple variables to measure causality. Although Random Control Trial (RCT) is the gold standard to measure causality between two randomly selected samples sizes i.e. control group and treatment group,  in this case, it will not be possible to make two groups randomly selected i.e. two groups with very similar demographic profile randomly selected, one sample without aadhaar card and one sample with aadhaar card. However, a time series data of the population over a decade before and after aadhaar implementation might lead to useful insights. This form of statistical analysis is not a form of RCT analysis.  Continue reading “Aadhaar Inclusion and Causality Inference”

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