Guru Speak: Walter Schloss, Truly conservative investing

Among the famous investors of Graham-and-Doddsville that Warren Buffett refers to as ‘super-investors’, the most conservative yet in no small measure less successful was Walter Schloss. He was perhaps the closest to what was commonly referred to as ‘cigar-butt’ investing, and someone who perhaps followed the bargain hunting principles in stock picking perfectly and over … Read more

Book: The Millionaire Next Door

This is the title of a famous book that was a result of multi-year studies and research done by Dr Stanley and Dr Danko to discover the profile, lifestyle and habits of America’s wealthy households and how they became wealthy. The title is intriguing as they say, because initially they started their research by surveying … Read more

A Hundred Hundreds: The Phenomenon I saw play cricket

“One hundred lesser would not have made Sachin Tendulkar a lesser legend in anybody’s eyes.” Jigneshbhai remarked nonchalantly when reading from the newspaper about the latest exploit of India’s greatest cricketer. On this Swami seemed to agree with Jigneshbhai. “Like the last four runs that Sir Don Bradman did not score did not make him … Read more

What do ‘Horn OK Please’ and ‘Mutual Funds are subject to Market Risks’ have in common?

Travellers on Indian roads would be very familiar with this sign. Almost every truck, specially the big interstate ones that cross highways, has this funny term written behind them “Horn OK Please”. I have seen it often, and have never quite understood its significance. Having asked a few people, even they seem to be unaware … Read more

What’s in a name – Why names are irrelevant in investing

“The real choice of the average individual has not been between constructing and acquiring a well-balanced common-stock portfolio or doing the same thing, a bit more expensively by buying into the funds. More likely his choice has been between succumbing to the wiles of the doorbell-ringing mutual-fund salesman on the one hand, as against succumbing … Read more

Why No News can often be Good News

“If we assume that there are normal or standard income results to be obtained from investing money insecurities, then the role of the advisor can be more readily established. He will use his superior training and experience to protect his clients against mistakes and to make sure that they obtain the results to which their … Read more

Book Synopsis: The Difficulty of Being Good by Gurcharan Das

the-difficulty-ofbeinggood“What is here is found elsewhere. What is not here is nowhere.” – Mahabharata

With these words from the epic, Gurcharan Das starts the prelude to his book “The Difficulty of Being Good”, which I had the opportunity to read over the past few days. An output from what he terms as his ‘academic holiday’, this fairly scholarly piece of work by the former CEO of Procter and Gamble and columnist, is a thorough and in-depth examination into the main characters in the Mahabharata, their stories and their moral dilemmas, their relevance and application in today’s day and age, a search for the meaning of dharma, and the eventual conclusion that ‘Dharma is Subtle’.

Review

The book is fairly heavy reading even for regular readers of non-fiction, but is worth the effort. It has loads of wisdom on every page, and content that will take time for even the most patient readers to absorb. Not exactly following the story line of the Mahabharata, the book takes one character at a time and analyzes the major events that happen with the character, and then tries to answer the age-old question “What is dharma?” In the process, it provides the reader a wonderful insight into the human traits of the key characters.

Characters

The author argues that while envy drives Duryodhana and he is largely an ‘evil’ character; for someone who is convinced that the throne belongs to him and whose goal is to win, Duryodhana’s singular drive and endless discontent may be something that one can learn from.

In his analysis of the ‘pravritti-oriented’ Draupadi and her courage, there are some really interesting insights from her conversations with the ‘nivritti-oriented’ Yudhishthira on ‘Why be Good?’ and the various explanations for it. A significant part of the book also focuses on the ‘un-hero’ Yudhishthira and his search for ‘dharma’, and how he undergoes a transformation from being a passive, non-violent, strictly moral prince to a more pragmatic, active and balanced righteous king, on realising the inherent conflicts between being a ruler and being good.

While noting that Bheeshma is perhaps the most ideal character in the Mahabharata and that his striking trait is selflessness, the author also questions whether selflessness is always good, especially if, like in Bheeshma’s case, it actually led to the Mahabharata. If he had not taken the pledge, perhaps things would have been smooth with Bheeshma taking the throne.

The author also goes on to explain the status anxiety faced by Karna, its relevance in today’s society, and why he is the ‘most lamented’ character in the epic; as well as the despair faced by Arjuna when he refused to take arms. The author finally takes a detailed look at Krishna and his guile and how it was singularly responsible for the Pandava victory, specially due to its use in the death of all the Kaurava commanders-in-chief – namely Bheeshma, Drona, Karna and Duryodhana. He analyses the character of Krishna both as a human and as God, and eventually concludes that the only justification for his actions is that He is God.

Synopsis

All through the book the author constantly provides contemporary parallels to the epic’s events, and tries to answer the question on whether it is possible to be good and still achieve your goals, and why it is so difficult. These examples range from personal dilemmas in day to day life, positions that corporates and administrators are likely to find themselves in, decisions regarding law and policy makers as well as international issues.

Eventually the conclusion is a highly profound piece of writing some of which I quote below:

“Good behaviour is not rewarded generously in the epic; the virtuous suffer banishment and deprivation, while the wicked flourish in their palaces. Nor does the epic seem to explain why ‘good’ persons, who had a strong and persuasive case to make war, could win only by unfair means? And if so, how can we still call them ‘good’? It has told us that dharma is hidden in a cave, but even if it is found, it is so subtle that it slips from our grasp.”

“There is no single definition of dharma, it is matter of a fine balance  and dharma is subtle. Dharma is supposed to uphold a certain cosmic balance and it is expected to help us balance the plural ends of life – desire, material well being and righteousness – when they come into conflict. However, dharma does not do a very good job at it.”

Overall, a wonderful read, if one has the inclination and patience to absorb it.

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