Have You ever wondered how luxurious the most expensive house can be? You should read this one. Antilla is the new house of Mukesh Ambani. This house break the record for most expensive house in the world. This is the first home in the world that exceeds $ 1 billion. This house is 570 feets high, the price of this house is around $ 2 billion. This house is built in the middle of downtown Mumbai, India that sadly in the middle of the area that full of poverty.
Ambani is a global conglomerate and the richest man in India, new emerging economies country. He explains that his new home will have more floor space than the palace of Louis XIV at Versailles.
Each of Ambani’s family will have their own personal health club. They will also have six levels garage for 168 cars. Most of the tower built from glass. This ultra modern house featured the panic room, cinema and employ around 600 servants and staff. Each level also have a lush garden.
The Building of Mukesh Ambani house
the lobby of Mukesh Ambani House
the ballroom of Mukesh Ambani house
the bathroom of Mukesh Ambani house
traditional lounge of Mukesh Ambani house
modern lounge of Mukesh Ambani house
Can You imagine that this house just for 1 family? Husband, Wife and 3 Children? I can’t imagine how life in the most expensive house in the world. This house will be stayed for a while as most expensive house in the world since the gap of price from the second place of the most expensive house is quite large.
Congratulations for Mukesh Ambani for your new most expensive house in the world.
Archive for the ‘stock market’ Category
Billionaire Warren Buffett shares his business lessons and wisdom.
Here are the hi-lites:
When do you decide to invest in a firm?
The best thing that happens to us is when a great company gets into temporary trouble. We want to buy them when they’re on the operating table. (Mr. Buffett bought Coke when it had its biggest fiasco after launching New Coke; he bought American Express when it went through a loss making phase in the early 60’s)
What do you look for in people when they come to sell their firms to you?
I don’t look for the usual credentials such as an MBA, a pedigree (Harvard, Wharton), or cash reserves or market cap of their firm.
What I look for is just a passion in their eyes; I think that’s the key. A person who is hungry will always do well. I prefer it when people even after selling stay on and work for the firm; they are people who can’t wait to get off their bed to get to work. Passion is everything; there is no replacement for innate interest.
Why do stock market crashes happen?
Because of human nature for greed and insecurity. The 1970s were unbelievable. The world wasn’t going to end, but businesses were being given away. Human nature has not changed. People will always behave in a manic-depressive way over time. They will offer great values to you.”
What are the things that are taught wrong in Business school and the corporate world?
I like such open ended questions, I think Business schools should refrain from teaching their wards about profit making and profit making alone, it gives a sense of 1 dimensional outlook to the young students that loss is a curse. In reality, in the corporate world, failure and loss making are inevitable. The capital market without loss is like Christianity without hell. I think they should teach the student on how to buy a business, how to value a business? Not just on how to determine the price of a business. Because price is what you pay, value is what you get.
How do you feel after donating $ 40 Billion to the Bill and Melinda Gates foundation? You are a hero to us!
I feel nothing. I haven’t sacrificed anything in life. I have had a good life. I donated after I turned 75. I think I admire those people who sacrifice their time, share their food and home, as the people to be emulated not me. Besides, what is money before a man’s life?
What do you think are the pitfalls in donation?
I have never donated a dime to churches or other such organizations; I need to believe in something before I end up doing that. I have been observing the Bill & Melinda Gates foundation for years now and I am confident they will do a fantastic job of making use of the money. I am a big believer in Outsourcing, others believed in me as an Investor and gave their hard earned money to invest. I believe in Bill Gates, he is a better donor than me.
You seem to be so well read, tell us how it all started.
My father was a stock broker, so we had all these financial books in our library. He introduced me to those classics and I got into them. I am lucky that my father was not a fan of Playboy! Reading is the best habit you can get. Well, you can learn from teachers too, and have mentors but there are so many constraints attached- they will talk fast, talk slow, they might talk like a pro or they might be terrible communicators. Books are a different animal altogether, I love reading! The beauty about reading and learning is that the more you learn the more you want to learn.
What is the 1 biggest advice you would impart to a young investor like me?
Think for a moment that you are given a car and told this is the only car you would get for the rest of your life. Then you would make sure that you car is taken care of well, it is oiled and detailed every now and then. You would make sure that it never gets rusted, and you would garage it. Think of yourself as that car. You just get 1 body, 1 mind and 1 soul. Take care of it well. Invest in yourself that would be my advice.
So, what is your roadmap to becoming a billionaire?
The Kuwait government was charitable and wise to propose a $5 bn stimulus package to overcome the local negative sentiment generated by the global recession. It is a good measure to isolate the Kuwait economy from being adversely affected by the general doom.
However, there has been quite an opposition to the package in its present form. The oppostion is justified by raising certain objects to unilaterally and unconditionally grant funds, without look at the overall financial health of the corporate and knowing how these additional funds will be utilised.
There has been a common conception among those living in Kuwait that the citizens are living a life of debts, having borrowed heavily to support their lavish lifestyles (somebody called them “Blue Whales”), without caring on how to pay back these debts. They have always asked for the state to help them waive off their debts from the state reserves.
This has been opposed in the parliament (and rightly justified). Waiving these debts will definitely set a dangerous trend. Allah has rightly said that you have to get paid for your deeds, good or bad. So no waiver. Learn to live within your means and not beg (white collar).
If the package is approved with proper conditions, the economy will definitely bounce back. The govt can set an example for the other countries on how it can support its citizens in difficult times.
At the height of her fame, the deposed Filipino dictator’s wife Imelda Marcos had more than a thousand pairs of shoes, 888 handbags and
508 gowns. As it turns out, had ex-Satyam Computer boss B Ramalinga Raju not been locked up and his fraud exposed, he may have given Imelda a run for her money in the next few fashion seasons.
Raju’s penchant for high fashion had led him to collect more than a thousand designer suits, if sources in the Enforcement Directorate are to be believed. According to documents prepared by Andhra Pradesh police and given to ED, the disgraced IT czar had 321 pairs of shoes and 310 belts.
Apart from leading a lavish lifestyle, Ramalinga Raju visited various big temples in Andhra Pradesh regularly and donated huge amounts of gold, which collated would approximate about two tonnes. His stargazing pursuits led him to buy a telescope, which valued at more than Rs 1 crore would be the most expensive in any Indian home.
Like many other multi-billionaires, Raju too liked to collect trophy properties around the world. Sources said he had “palatial mansions and villas” in 63 countries.
Source – Times of India
What Exactly is a Market Crash?
“Market crash”. Just the sound of the phrase makes most people shudder. But what exactly is a crash, and why do they occur? The answer lies within human psychology. People love bull markets. Bull markets have the uncanny ability to change the collective attitude of society. In a quickly rising market, even the words of rather prosaic business pundits become a form of entertainment. This is what happened in the tech boom as Fed Chairman, Alan Greenspan, became a worshipped celebrity. Eventually the euphoria changes into downright pessimism as the inevitable market crash occurs. Later on, the cycle repeats itself. In order to fully understand these events, we must learn about behavioral finance. In financial markets, the “majority is always wrong.” When the investing majority or the crowd is overly bearish, this is the best time to be buying stocks. When the crowd is overly exuberant, this is the time to be selling stocks. The financial markets work in this ironic way because not everyone can win in the market. If it were possible for everyone to win in the markets, this would mean that money is being created from nothing. The creation of money, in this manner, is impossible. Therefore the markets are a zero-sum game. Zero-sum means that for every winner, there is a loser. The winner takes the losers money. Zero-sum games are games where the amount of “winnable goods” is fixed.
The Start of a Bull Market
The bottom of the market starts at a time when the stock market is weak and the general population is pessimistic. At this point most investors sell after having endured a long and torturous bear market. This extreme pessimism found at a bottom is always irrational and undeserved. Now the market is undervalued and is a bargain. Savvy investors, the smart money, buy bargain stocks knowing that they will be able to sell them higher in the near future. Smart money buying, called accumulation, causes stocks to rise. The smart money often consists of NYSE specialists, Nasdaq Market Makers, hedge fund traders and corporate insiders. These traders have access to information that the general public does not. Rising stocks eventually gain the respect of mutual funds, as billions of dollars of capital is introduced into the market place. Mutual fund investment causes the stock market to advance in a powerful manner. Much of the steady large trends are powered by mutual funds and other institutional investors. After the stock market has gained, stocks are now fairly valued and are no longer considered bargains. The smart money is now sitting on a large profit, as well. The average investor is still skeptical, however. As bull market events unfold, retail investors begin to take interest in stocks. Retail investors, or the unsophisticated little guy, make up the vast majority of investors. This group does not invest for a living. Retail investors often make investment decisions based on what they read in financial magazines, from their brokers and from tips from friends. As the flood of retail capital is invested, the market soars, causing great euphoria. At this point in the cycle, many companies become public, or launch an IPO. Companies go public when investor sentiment is most optimistic so as to gain the highest possible stock price. IPO’s generate even more optimism as unsophisticated investors buy into the fallacious thoughts of instant riches. Now is the time when many small investors become wealthy. In this phase, stocks are doubling and tripling as the media cheers on the advancing bull market. At this point, the smart money sells, or distributes, the now overvalued stocks to overconfident retail investors. The smart money knows that overvalued stocks are no longer worthy investments, and will soon drop in value. Widespread greed always occurs, in some form, at stock market tops. Sometimes this greed takes form as accounting fraud where companies over inflate their values. Other times companies make unrealistic promises, such as dot com stocks without any earnings. These immoral activities can take place because irrational retail investors will buy a stock simply because it is glamorous. To compound the problems, investors will now start to use margin, or leverage, to further accelerate gains. All caution is thrown to the wind as investors think “the old rules don’t apply”.
The Start of a Bear Market
After mutual funds and retail investors are fully invested, the market is overbought. This means that there is no more cash to fuel the rally. The market can only go in one direction: down. All it takes is just a hint of negative news and the market collapses under its own weight. Investors quickly realize the market is made of smoke and mirrors, as frauds or other abuses come to light. When panic selling starts, a market will always fall quicker than it had risen. Oftentimes, as everyone heads for the exit at the same time, there isn’t anyone willing to buy the stock. This can be especially disastrous for margin users as they grow deeply indebted to their brokers. Bankruptcy is the usual result for these foolish gamblers. The majority of retail investors don’t sell even as the market is plummeting. This crowd keeps holding on to stocks in hopes that the market will recover. As the market plummets 25%, then 50% the average retail investor foolishly holds on, in complete denial that the bull market is over. Finally retail investors sell every stock they own plummeting the market even further. This mass exodus is called capitulation.
The Cycle Starts Again
It is at this point that stocks are undervalued once again. The smart money is accumulating and stocks rise. The majority of retail investors bought at the top and sold at the very bottom. This is the very essence of the “dumb money”. They are perpetually late into the game. This cycle continues over and over. Only the smart money actually “buys low and sells high”. After trading in this manner, the dumb money will adhere to adages such as, “the stock market is risky”. In reality, however, the stock market is only risky if you trade like the mindless majority!