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“In India, companies may fall sick, but promoters rarely do!”

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May 18, 2010

Bombay Stock Exchange and New York Stock Exchange…Both Heritages linked to Trees !…Fascinating

Fascinating…..The Heritage of New York Stock Exchange (NYSE) and Bombay Stock Exchange (BSE) are linked to Trees !

NYSE is 218 years old and BSE is 135 years old 

For NYSE it was the Sycamore or Buttonwood Tree

On May 17,1792,Twenty Four Stock Brokers of New Your City signed under the Sycamore or Buttonwood Tree at 68 Wall Street, what is called the Buttonwood Agreement that launched NYSE with just five listings !…it was short and sweet with just two sentences….that the Brokers merely trade only with each other and do not charge more than 0.25% Commission….Today NYSE boasts of over 1300 Trading Seats and over 2700 Listings

For BSE it was the Banyan Tree

In the 1850s the Stock Brokers traded under the Banyan Tree in front of the Town Hall ( now known as Horniman Circle)…then as their Numbers increased they spread a few lanes away to Banyan Trees at Meadows Street ( now known as Mahatma Gandhi Road)…finally in 1874 they moved to a lane they appropriately called Dalal Street…known even as this today….in 1875 these Brokers launched ‘The Native Share and Stock Brokers Association’….Today BSE ranks World No 1 in terms of Number of Listings…over 4900 of them   

What a Tradition !… What a Heritage !…From a Tiny Acorn does a Mighty Oak Grow !…..Fascinating when you contemplate the Electronic Era Today…of State of the Art Hi Tech Offices in Concrete Skyscrapers and Impersonal Paperless Trading in Billions and Trillions !  

Mumbai is 40 !…Ahmedabad,Hyderabad and New Delhi are 45 !…and my wife is 100!

Oof ! this Heat can be unbearable !….and with the Humidity ,can be simply devastating….saps energy levels even in inertia…actually leads to inertia!

Mumbai is sweltering and touching 40 degrees….but’s its 45 + in other cities like Ahmedabad,Hyderabad and New Delhi…one is bound to get the ‘lu’ if out in the Sun too long…even the airconditioning is not effective in Hyderabad…the House Walls emit Heat and the A/c actually loses out the battle with this !…..a Cooler is more effective 

…and my wife is 100 !…that’s because I jokingly told her,while discussing Mumbai at 40, the other day that my notion of a Woman who is 40,is that a Man should be able to exchange her,like a Bank Note,for two 20s !

Cheers !

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