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BIC Insight - Reports.

Summay Reports of completed BIC Insight sessions.


You will find reports of the following sessions here.

1.  European & US Debt issues - peering into the future. Sun 11 Sep 11.
2.  Trading Systems - Design & Practical Concepts. on Sun 13 Nov 11.


Session 1: European & US Debt.


Sun 11 Sep 11.
It was really a surprise and pleasure to have so many folks at the BIC Insight session.

Some highlights ...

We had 25+ folks and almost everyone stayed right till the end. See list of participants below. The session started at 2.30 and while I tried to end it by 6pm, we went on till 7pm :))  Best part, no one seemed interested in a break and well, we just kept talking!


The following topics were pondered upon ...

1.  US Debt issues - what's in store and what outcomes could happen. Most of the session was on this. No solutions except to say that there is a lot of "conflicting" data on the amount of Debt !!!
2.  European Debt - Greece and Eurozone problems. Prashanth educated us on this quite a bit.
3.  USDollar Index and the expected Depreciation of the USD against major currencies and how this could actually take US out of its debt and very interestingly, how it could get Manufacturing jobs back into the US - very very interesting prospect.
4.  China / Renminbi - how can one invest in it and the IFs about it - Tough to do !!
5.  Geo-political issues of South China and how things could pan out for India vs China vs other South Asian countries.
6.  Views on the Markets - globally and locally ... some surprisingly bearish views - which I think put a lot of people in deep thought !!!


Special thanks to Prashanth:
It was a real pleasure and boon to have Prashanth from
Technical-Investor@yahoogroups.com at the session. He has some really different and refreshing perspectives on the global economy and how things could pan out.
It was really good to
have one's views and opinions challenged.


A free-flowing & thought provoking session ...

There was a constant effort to try and link these global issues to our own personal lives and while I am not sure we succeeded in that, what I am sure is that a lot of folks went back with thoughts, ideas and concerns about the oncoming future and how it could impact us. If the session was able to do that for you, then I think it served its purpose of not just being a talking shop but gave each one of us issues to think about (seriously).

The session was / is not designed to answer any questions and as I said, I was left more confused at the end than at the beginning.
What the session certainly did for me is shake some of my long held beliefs and forced me to reconsider the validity of the same. And as Santosh said, if this can lead to a better understanding of the issues then that would be good - I think that will happen, it will take time but will happen.



Please give your feedback
...


List of attendees at the first BIC Insight Session.

Dhirendra - Volvo Aerospace
Tushar - Wipro
Meera - Garment Exports, Merchandiser
Suresh - Industrial Consultant
Guruprasad - Siemens India
KN Prabhushankara - CDOT R&D
Ravi Kiran - CDOT R&D
Pauline - Habitat for Humanity (knows Jimmy Carter :)))
Suresh Anand - Full Time Derivatives Trader.
Asha PH - Trader.
Nilofer - Banker, Axis Bank.
Ravi Arya - Infosys.
Yogish
Sripathi - Infosys - is going to arrange a visit to a Coal Mine!
Sumanth - Mphasis - Bullet enthusiast, went to Leh and back.
Ashok - Independent trader.
Dannie - ex ICICI Bank
Sriram - SW, Trader.
HK Santosh - SW, Trader,
Mintu - SW, Trader.
Deepak - Philips.
Prashanth - Founder Technical Investor Group, Systems Trader, Stock Broker - has more knowledge than he cares to admit !
Musa - joker :)
Ram Murthy - organiser

if I missed anyone's name, my apologies, please let me know.



Some feedback ...
 
Appreciate you organizing the "BIC Insight" session.... You keep hearing these subjects on TV but it is good to put numbers to the equation...
Thanks to everyone who joined....very insightful (though came gloomy with pessimistic view on equity in near future.... Driving back that night....I was telling myself it is not "Dooms day yet")
 
Regards
Ravi Arya



The Insight session was mind boggling and was beyond my expectation. The topic on global market (Europe & US) scenario was surely thinkable & frightening. The whole session was very interesting & made me think a lot about India's growth story, which was 100% all these days but now its become a question mark.

Mr. Prashath's Knowledge was the flavor of the day & the topics he covered where too much for me to digest. It would be nice if we could break up yesterday's session and have individual topic addressed for dull heads like me

Global Currencies & Impact on Indian Market
What is USA's & Europe's actual problem? What can we expect if it improves or decline's?
What happened in history in the similar situation, what we are going through?
Rise & Fall of Japanese economy.
What is China's stand on todays global situation? 

My sincere thanks to Dr. Musa & Mr. Prashath.
Suresh Anand.



Thank you for the wonderful BIC Insight session! I finally got to meet the famous Musa!! Though my Engineers brain could not understand much of all the $$$ talk, it was nice to meet all you nice people. Naa Musa, no…. I don’t have any complaint about the meeting, venue or hospitality.  Do thank Ram Murthy from my side. If Prashanth is as good at talking about other things apart from money, I would love to chat up with him sometime. Maybe he could buy me a Beer! LOL…… just kidding!! The Beer is on me.   ;-)  Hope to meet you again soon.
 
Regards,
Suresh KS



It was indeed an insightful session. After hearing umpteen presentations on the India Growth story during my wealth manager / Relationship manager days at the bank it was really nice and thought provoking to hear the other side of the story. Thanks a ton to Prashant for the balancing view. Thanks to the session I am now more guarded on my views on any developments .

Looking forward very eagerly for the next session on trading systems....
Regards
Dannie Joseph

Session 2: Trading Systems - Design & Practical Concepts.


Sun 13 Nov 11.
Here is a short summary of the Trading Systems talk ...

First, the biggest surprise was the turnout.
I was expecting around 10 folks based on the replies but we had 32 folks at the session!
It was really nice to meet many who I had not met for many months (and years!) at the session but alas did not have the time to spend time with each one enough. A few new faces and my apologies to them for not being able to interact with them to get to know them.

Jaaga, the venue, was a very different one - made of industrial pallets like you find in large warehouses - right on Double Road. While it was more centrally located that our usual venue it was not the best we could have had in view of the numbers who attended.

Big Request: - if folks could kindly confirm in advance, it would help us organise better - had to run out to get refreshments - managed drinks but not enough food - pretty tough to get on Double Road on a Sunday and some last min arrangements for an audio system.

Session started at 2.30 pm and went on till almost 7pm.
Lots of Questions from a few while most folks were the silent types.
From what little I have been able to gather, there was a mixed response to the session - please send your feedback.

For most I think it was an insight into what are the issues involved in creating a system that produces consistent profits. I think Prashanth got most of us thinking on those lines.


A few aspects which were particularly good and discussed in great length ...

1.  A system that fits one ability to psychologically withstand losses - I till then had always thought that just the math was enough. Prashanth spent quite a bit of time on this at different times and the message got home to me at least.
2.  Why KISS is important and how adding more factors into the system can indeed not improve it - illustrated with examples.
3.  Entry & Exit strategies - A LOT of time spent on this and also discussed how the rules need NOT be symmetric -
illustrated with examples.
4.  Types of markets and how the system behaves in different types of markets.
5.  Having multiple systems.


Of all the topics most of the time was spent on those highlighted below ...

Introduction
Why use a trading system?
Why build your own?
Follow the Rules
KISS: Keep it Simple Silly
Star of Wonder (A complete Mechanical Trading system)
Steps to follow when building a system
`The Edge'
7 step plan to attaining the `The Edge'
A Trading Plan
Working towards a Robust System
Entry Strategy
Market Modes, Trends and Indicators
Exit Strategy

One of the best exit strategies revealed
Knowing how loose to keep stops (tight stops are a myth)
Backtesting
Optimisation and Adaptation
Verifying you have the edge: Trading System Statistics

Taking advantage of the edge: Money Management Techniques

To quote Prashanth,
"My only concern is that I went  through the second session - especially those regarding Backtesting / Optimization pretty fast." but this was done as most participants had sufficient knowledge to get the principles but not enough to get the technicalities of it. For those who were looking forward to these details the session was perhaps a disappointment. We can always have an depth session spread over a few days for those who really want to get their hands and minds into this!

Note:
1.  The presentation used by Prashanth has been sent to all those who attended.
If you did not receive it, please do revert with your correct email id.
2.  Photos have been uploaded on BIC's facebook page. Visit: http://www.facebook.com/BangaloreInvestorsClub

Requesting feedback on the session and how it was for you - good, bad and ugly, please respond to this post or post on BIC's FB page.
If there are any suggestions on / interest on taking this forward or you would like to any other specific topics covered, please do get back to us.


Thank you all for attending the session and looking forward to your inputs and responses.
wishes & riches,
musa


Session 3: To be updated ...


We look forward to having you at Session 3 of BIC Insight.