Hey there, FinOak fam! How's it going? We're excited to bring you another edition packed with interesting updates. Get ready to scroll down and catch up on what's been happening with Twitter's logo and the RBI's decision to put a halt on interest rate hikes and how it might impact you. Plus, we've got some valuable insights on various investment avenues in gold that you won't want to miss out on. And to top it off, we have an inspiring story from Khushi Katyal, a final year student at SSCBS placed at Dabur, who shares how her hobbies helped her find herself and grow both personally and professionally. Let's dive in!

Column 1

Weekly Wrap Up

Move over Larry, it's Kabosu time- How Twitter’s new CEO changed its logo, and why

Havoc took to the social media world last Monday, when Twitter users were left in awe, when they saw that the logo of Twitter got replaced!

Blue bird logo on Twitter homepage and loading screen changed to Kabosu, the logo of the popular cryptocurrency, Dogecoin.

There was nothing but a pin drop silence…for 24 hours.

No comment from Twitter or Elon Musk.

The users on Twitter were confused, and startled by such a sudden development. That’s when Musk tweeted the following picture along with a conversation (perhaps by means of an explanation), that happened last year between him and another Twitter user who asked him to buy Twitter and change its logo to doge.

What is in a name?

‘Larry’ was the name of the blue robin bird that was Twitter’s former logo. Cofounder Biz Stone said that Larry the Bird was named after Larry Bird, the famous basketball player of the Boston Celtics. Biz grew up in Boston, and was a huge fan of basketball. He associated the name ‘Larry’ with greatness, hence the name.

‘Kabosu’, name of a female Shiba Inu, who has become the face of the popular “Doge’ meme–also recognised as the face of the popular cryptocurrency Dogecoin–was created as a playful, meme-inspired currency by software engineers Billy Markus and Jackson Palmer (2013). In today’s world, it has become a key part of memes, internet culture, and the crypto/finance ecosystem.

Famous for its ‘tipping’ culture where in users tip each other dogecoin as a mark of social currency, Doge skyrocketed to prominence, and is now seen as a symbol of the volatility of the cryptocurrency market. This has long enjoyed backing of Elon Musk, who has often tweeted about it which in turn led to volatility and movements in its stock prices–Musk’s tweets led to a rise of 36,000 % in dogecoin’s value, before letting it crash–sparked a debate about the influence Musk has on the crypto market

Background of change

Musk is already in trouble with respect to Dogecoin. A report released by Reuters last year revealed that Musk had deliberately promoted Dogecoin in a pump-and-dump scheme to profit from its trading. Embroiled in a $258 million racketeering lawsuit that accused him of running a pyramid scheme to promote Dogecoin. The lawsuit was brought about by Dogecoin investors.

Effect of this change

Dogecoin’s value shot up by as much as 30% on the day, before closing 15 % higher. Google searches for ‘Dogecoin’, ‘buy dogecoin’ and ‘dogecoin by’ went up by more 1992%.

The reason for this change you ask?

Well, one possible reason is that the name change is due to the name of Musk's pet Shiba Inu, Floki. It is also speculated to be an April Fools’ day gag that the company was unable to bring in on 1st April 2023!

India’s Interest Rate Express halted?

The RBI monetary policy committee (MPC) has decided to keep the Repo rate unchanged at 6.5%. But, RBI's decision today is a comma and not a full-stop on the rates.

History Mode?

Switch ‘ON’

Early 2019 to Early 2020- The RBI started reducing the Repo rate from 6.5%. Within a year, the repo rate was brought down close to 4%. This was mainly done to support growth

Early 2020 to Early 2022- Then came COVID. The repo rate was kept near 4% for more than 2 years. This was the time when equity investors minted money!

Early 2022 to Early 2023- The RBI had no option but to shift focus away from growth. Rising commodity-led inflation was the trigger for RBI's rate-hike cycle. Interest rates again taken from 4% to 6.5%

Early 2023- The much awaited pause has come after 6 consecutive rate hikes

The RBI had to take these steps to combat the volatility arising from geo-political events. What stands relatively firm in the face of uncertainty and volatility are the broad macroeconomic indicators:

1. GDP growth in the range of 6 to 7%

2. Foreign exchange reserves are strong above 600 bn USD (When COVID lockdowns started, this number was close to 475bn USD). The rise is impressive considering the uncertainty.

But what does this pause mean for you?

🏘️ Home Loans

We're somewhere close to peak rates. Rate hikes, if any, may be minimal hereon. Refinance to a lower rate, voluntarily hike your EMI, and pre-pay. These will help you pull back the tenor in the short term. As the interest rate cycle reverses, a falling repo rate should do the rest in the long term.

💰 Fixed Deposits & Recurring Deposits

We may now be close to peak rates. Most banks now offer rates of 7.0-7.5%. You can lock in to these rates now for the long term.

📈 Stock Markets

Continue to invest in equity as per your long term plans. Once interest rates start to fall, we may see the markets race ahead.

💵 Bonds & Debt Funds

We’ll see long-term debt securities become more attractive. Even with the new tax rules that have ended tax arbitrage, the potential for higher return from these funds makes them an attractive option.

Whatever the increase/decrease in the interest rate may be in the future, do remember to halt your fingers at our newsletter junction every week!

Column 2

Personal Finance

Uncovering the Golden Opportunities: Your Guide to Exploring the Best Investment Options in Gold

Gold isn’t lame, it’s “Au”some!

We all know investing in gold has always been a trending topic for many years, and with the increasing availability of investment instruments, it has become easier than ever for young people to invest in gold. If you're in your early 20s, you might be wondering whether investing in gold is a good idea and what options are available to you.

Well, you’re in luck today because in this article, we'll explore the various gold investment options available in India that you can consider.

1. Gold ETFs (Exchange-Traded Funds)- Gold ETFs are exchange-traded funds that invest in gold bullion, giving investors exposure to the price movements of gold. They are an excellent option for young investors who want to invest in gold without purchasing physical gold. Gold ETFs are easy to buy and sell, have low costs, and are tax-efficient.
   

2. Gold mutual funds- Gold mutual funds are similar to gold ETFs, but instead of investing in gold bullion, they invest in the stocks of companies that are involved in the gold industry. These funds invest in gold mining companies, refining companies, and other companies that are involved in the gold business. Gold mutual funds are a good option for those who want to invest in gold but are more interested in the gold industry's growth potential.
   

3. Sovereign Gold Bonds (SGBs)- Sovereign Gold Bonds (SGBs) are issued by the government and are an excellent option for those who want to invest in gold for the long term. SGBs are issued in denominations of one gram of gold and have a maturity period of eight years. They offer a fixed interest rate and are tax-efficient. SGBs are a good option for those who want to invest in gold but don't want to worry about the security and storage of physical gold.
   

4. Gold savings funds- Gold savings funds are a type of mutual fund that invests in gold ETFs. These funds are an excellent option for those who want to invest in gold but are unsure about the right time to invest. Gold savings funds allow investors to invest in gold at regular intervals, regardless of the market's ups and downs. They offer the benefits of rupee-cost averaging and are a good option for those who want to invest in gold for the long term.

5. Physical gold- Lastly, investing in physical gold is another option available to young investors. This option involves purchasing gold jewelry, coins, or bars. While physical gold can be an excellent investment option, it is essential to consider the costs involved in storage, insurance, and security.
   
   The best gold investment option for you will depend on your investment horizon, risk appetite, and financial goals. If you're looking for a long-term investment with low risk, gold ETFs or SGBs may be the best option. If you're willing to take on higher risk for potentially higher returns, gold funds may be a good choice. Physical gold is not the best option for most investors due to high storage and other related costs.
   
   In conclusion, investing in gold can be a good option for young adults looking to diversify their portfolios and protect themselves against inflation. With a range of investment options available in India, investors can choose the best option for their individual financial goals and risk profile. However, it's important to remember that no investment is entirely risk-free, and investors should do their research and consult with a financial advisor before making any investment decisions.

Column 3

Featuring Future Leaders: Khushi Katyal

Hi Everyone, I’m Khushi Katyal, a third-year student at Shaheed Sukhdev College of Business Studies, University of Delhi. I’m a Blogger and Podcaster and have worked with organisations like Trip Magus, and PassionatelyCurious. I've been placed at Dabur, and have bagged interviews with IIM Calcutta, IIM Lucknow and the Indian School of Business. Today, I’m going to walk you along my journey through college, hoping my experiences and lessons help you out in some way or the other.

Journey at SSCBS

It’s been a great learning experience. When I entered college, I faced a lot of pressure and self-doubt, specifically because CBS is such a competitive college where I’d see students giving their all into so many avenues like internships, case competitions, etc. - whereas I was still figuring out my interests. I soon learned that my journey was not going to be similar to that of the majority of the students at CBS. Around July 2021, I attended a boot camp of PassionatelyCurious, which led me to find my career coach - Mr. Saurabh Mittal. What struck me was the realisation that I should focus on myself instead of seeing others, and that’s when I started taking career coaching from him. He’s helped me build my portfolio, and most importantly, my individuality.

For example, since childhood, I’ve been scared of the English language in terms of writing. During exams, I’d dread the Writing Skills section of the paper. Imagine going from that to writing blogs every day. When I started writing blogs in July 2021, I’d take an hour to write one blog weekly, but now I write blogs daily, taking 10-15 minutes per blog. I have seen the change in myself, from a person who just tagged herself as a CBS student to a Blogger, Podcaster, and someone who loves doing passion projects.

I even started a cohort for about two months, wherein I enrolled students and taught them the French language. I had students belonging to age groups 20-24, and 45. I introduced them to certain French web series that would help them enhance their learning of the language. That’s how we learned English as well, as kids - we would see and hear English in addition to studying it.

My career coaching motivated me to build my passion projects, and that’s when I stopped thinking of what others are doing - whether converting internships at the Big 4 or hustling in college, I began to focus on finding my own path.

Internships

Trip Magus

I got this opportunity through my College Society. This was a live project where I worked closely with a startup founder who had a Travel-Tech startup. I conducted market research, worked on a financial model, and also prepared a pitch deck for him, for the seed funding round. The seniors of my college also helped me out in this regard.

PassionatelyCurious

This was an amazing experience, truly because my own career coach offered me the opportunity to work with him as an intern! I was a Strategy intern there, and my role was to market this personalised MBA program to different colleges. I had read a book - This is Marketing by Seth Godin, who’s a world-class marketer, and it clicked so well with me, that I ended up applying a lot of concepts from the book in the internship. The book talks about empathy, connection, and how to actually reach out to your audience. For instance, while conducting boot camps, we encouraged people to register in groups of three instead of individually, as we had prepared activities that required people to communicate with each other, thereby fostering a peer-to-peer environment. Such an environment motivates one to contribute to discussions and to come up with innovative ideas, and it also helps us identify students who are driven. It fulfilled our motive of how peer-to-peer learning moves one toward growth, and we were able to successfully onboard students.

There’s something known as Human Centered Design Thinking, that whenever you're designing your product, you see it from the customer's perspective - keeping yourself in their shoes and evaluating what they want or need, how they see themselves using a product, etc., and then coming up with a solution for them. For instance, for us, our ideal client profile was a student who would want to work in a collaborative atmosphere, engage in discussions, and learn concepts logically and not through a rote learning mindset. So we prepared worksheets for them weekly and sent them emails daily as to how they could build their portfolio or advice towards deciding to go for CAT/GMAT. That’s how we were able to get students who also identified themselves with our mission.

This also brings me to highlight this point - it’s really great working for small organisations. You get to learn so much and work closely with the core team. You connect with people so well and understand different perspectives. I believe working with big brands is great for your profile - but it may not help you learn or grow as much. You would be allotted to a team or a mentor - who already have their own role to fulfill. So, you may not get a lot of attention or responsibility.

Society Culture

Personally, the shift from school to college in terms of clubs and societies was great in my opinion. People are a lot more engaged in these activities in college, but I feel there are pros and cons to everything.

I was in Enactus in my first year, and I went from someone who was anxious to talk to the chemist on call to someone who was contacting big suppliers to supply us with raw materials. That was a great learning opportunity for me, learning how to communicate and talk to people, and work on projects together. I would also drive by myself to offline visits, which made me feel very independent. The aspect of all members sitting down together, having engaging discussions, brainstorming, and making structured and elaborate plans for the society - that’s a truly cherishing experience of its own. I guess the best aspect of societies is connecting with people and learning from them while working together.

Every story has two sides, and there’s also a negative aspect of college societies. I believe the recruitment process gets very hectic and pressurising for students. I have seen students take rejection from societies quite personally, and I feel it is not something worth losing your self-esteem and confidence over. It’s important to factor favouritism, and pure luck in these things too. If you’re not in any of the prestigious societies of your college, your future and career are still bright and intact! At times like these, it’s important to look at things with a big-picture perspective!

Blogging

My career coach inspired me to start blogging. He told me to start posting and writing whatever thoughts come to my mind - to just express myself using words. So essentially, whatever knowledge I consume, perhaps via books, I process it and publish it in my blog for the world to see. For instance, I read books and publish my notes or learnings from the same in my blog - so that the knowledge reaches those people who don’t read the book and can read my blog, and learn something - and that’s the change I’m trying to create. Another person who inspired me to start blogging was Seth Godin, who has been blogging for the past 10-15 years, and his consistency motivated me, that no matter what is happening in your personal or professional life, you take time out and do this one thing consistently. His professionalism inspired me so much.

In the beginning, I was very skeptical about blogging. I didn’t know what topics to write about, or if I knew the topics I had to research a lot - but if someone had told me that 2-3 years down the line I will be talking about this as a way to express my identity in interviews or a newsletter, I wouldn’t have taken as long as a minute to get started.

A good decision-maker is one who first evaluates all the payoffs, including the most inevitable or expected payoffs along with acknowledging the uncertainty that an outcome isn’t guaranteed. If someone is starting with his or her project, there’s always uncertainty about whether it is going to work out or not, but you won’t ever know without doing it. I wish I knew this before, although it’s quite ironic - sometimes bad decisions can lead to rewarding outcomes, and good decisions can lead to lazy outcomes. We judge how good or bad the decision was by judging the outcome.

Podcasting

It was around the time Shark Tank India’s new season had come along, and everyone was hoping to work in a VC Firm during the internship season, as was I - but I wanted to know about what the work exactly demands, and have an in-depth understanding of it. So, I started reaching out to VCs on LinkedIn. When you call people on LinkedIn for a one-on-one conversation, perhaps maybe on the phone, people are often skeptical about it. Thousands of students DM them, so they’d probably not think much and ignore your message. But, when I invited them on my podcast - now that was interesting, and new as the information is going out to the public, and also, there’s this aspect of people listening to you. That’s how I was able to reach out to 80+ people for my podcast and helped share the story about their professional journeys, experiences, skills, and various tactics that helped them in the Industry.

This was highly motivating for me, as I was creating a change. I was bridging the knowledge gap between industry professionals and students. I feel when a student reaches out to a professional on LinkedIn for a working opportunity, they just send them their CV and a template message and I find that quite unprofessional. I believe in actually connecting with a professional, understanding their role, mission, and personality - and giving them a chance to talk about themselves. I think it’s very healthy and it will help you stand out if you connect with people on LinkedIn by highlighting a certain aspect of their work that speaks to you. That’s when people know you’re an interested candidate.

It was also Tim Ferriss’s Podcast that motivated me regarding conducting my podcast. If you ever get a chance to listen to his podcast you’ll realize how freewheeling of a conversation it is, and it is so respectful, insightful, and productive. That’s the kind of environment I foster in my podcast.

If you wish to work in great roles at a particular organization, many would tell you that you could get in through a referral. It’s so that the very sought-after roles are kept for personal connections, but if that route isn’t available to you - how about you call professionals on a podcast, and build a personal connection with them right there, by listening to their story? Podcasts are also a great way to build a network. Through a podcast, you are getting to know the person, and so are they able to get to know you - through the medium of a simple conversation. Starting a podcast can help you facilitate your growth, and you’ll find a way to channel your thoughts, and your learnings and share it with other people.

Sometimes, all people want is for someone to listen to their story.

How Blogging and Podcasting helped me grow

Blogging has helped me establish my individuality. I am more than just a student of a particular college, having done a couple of internships. My communication skills have improved significantly due to my podcast. I have built confidence within myself - not just that, I have built creative confidence. No matter what the setbacks may be, I will keep creating and sending out my work to the world - the work that matters, and seeks change. My individuality is that I am a curious person who wants to know about people’s journeys and their stories.

When you start something that you click with, there are so many things you learn in the process. From deciding on a name, and making the logo and poster for my podcast to learning the right questions to ask - I have learned so much already. I had to learn how to market my podcast in a way that engages curiosity, and not through clickbait. I learned to become consistent with this habit no matter what came along my way in my personal life. This is what it’s like to pursue a passion project, you fall a lot, and you only have yourself to get up again - and so much learning comes your way.

Placements and MBA Interviews

Honestly speaking, I didn’t wish to get into consulting, which is why I didn’t wish to sit for those placements either. But in retrospect, I’m glad I did because sitting in those interviews helped me refine my answers for my MBA Interviews. I consulted case study books like FMS, or the one from SRCC for case study prep, although I didn’t use them as religiously as one should, as I was inclined towards going for marketing instead. In addition, my coach helped me to understand how to approach such cases, by simply putting myself in the shoes of the said business, and then thinking of how I’d go about it. That approach helped me as well. For the GD round, know that everyone has inputs and points that they are impatient to get across. I’d recommend that in such a situation, observe and listen to the discussion first, and then give your input. In this manner, you can contribute productively to the discussion, as most people are focused on talking and not listening.

When I sat for my placement at Dabur, I had done a lot of research about the organization, its branding techniques, and its product lines. Believe it or not, during the interview - none of that was covered. They already knew students would’ve done the research. My interview was mostly about my projects, and since I had worked in marketing before, that aspect of my profile was covered. I had read a lot of marketing books and I showcased my knowledge about the same and also told them how I practically applied those concepts in my blogs, my podcast, and my summer internship. I was also not nervous about my interview. In stressful situations like these, it’s important to always keep a smile on your face and mentally affirm yourself. If you don’t know something, do admit that you’re unaware of the same, or perhaps you can go about it like “I might be wrong, but is this how….”. Interviews shouldn’t feel as intimidating, they should feel like a conversation. It’s also good if you ask questions as well, it shows that you’re engaged in the conversation. Always give answers in a story form, that creates curiosity for the interviewee. Don’t give brief answers like you’ve written about in your CV. Your CV is already with the recruiter, not your story.

I always tend to remember that dialogue from 3 Idiots “All is well, all is well”, at times like these. It’s so important to believe in yourself. If you don’t have faith in yourself, how will you convince a recruiter to have faith in you? It’s as simple as that!

I’d also advise sitting for placements even if you’re preparing for CAT. It helps bring a change in perspective, helps you build skills, converse with different people, and trains you for future interviews. Focusing on one thing entirely creates a lot of stress and pressure on your prep for the same. It’s a learning experience, even if you don’t wish to pursue it.

My IIM Calcutta Interview took place at the Indian Habitat Centre. Once I started giving interviews I realized how important it is to properly present yourself - your suit, your hair, your face, everything should look neat and clean. I went for my Interview and I was a bit nervous at first, but there were 5-6 people in one panel, so we began to talk about each other’s experiences, and backgrounds which helped my nerves. The interview in itself was a bit structured, the professors mostly asked academic questions along with some focus on my projects. My interview for IIM Lucknow was more or less the same, except that I noticed they had prepared questions for me.

My interview at ISB was taken by Alums, which was so interesting. They had asked me about the essay that I had to write for my application, and it was such a great conversation all in all - and although one interviewer was easy to convince, such was not the case with the other interviewer. It can get stressful in a situation like this, but you should maintain eye contact, take a moment or a breather to think rationally, and then answer. Maintaining eye contact also shows that you’re mentally present and listening in the interview. I’d advise to not over prepare for IIM interviews. The more structured you make your answer, the less easy or comfortable it is to have that flow of conversation. You should focus on what the interviewer wants to know instead of focusing on how your answer should sound, and as I mentioned before, you should answer like you’re telling a story.

When you’re writing an SOP, be as specific as possible with your goals. Interviewers can tell if you’re being general about your goals or if you know what you wish to do with your future. When I was asked what my career goals were, I simply wrote that it is to work at Netflix. It is so that I wished to go into Marketing in the entertainment industry, and if you’d see Netflix’s posters, you’d see how intriguing they are. I love the stories that Netflix showcases through its platform, especially the women-oriented shows - they’re so powerful and influential, and also if you were to read about Netflix’s workplace culture, you’d see that there’s no structured organization. There are brainstorming sessions, where you deliver your ideas, and you don’t have to take your superior’s permission for anything. They give freedom and flexibility, especially creative freedom in your work, and that’s the kind of organization I want to work for.

I was asked if I couldn’t get into Netflix, where would I want to work instead. That’s also a question I had prepared for - I had mentioned working at IDEO, or Acumen, as I believe these are organizations that wish to create change and push towards the growth of the organization as well as the employees.

For CAT, I took help from my career coach, and he provided me with his own materials for my prep. I also practiced a lot of the previous year's question papers, which helped me understand the pattern of questions and you’ll get to know what kind of questions are expected to come in the exam. I also took help from IMS SimCAT for my CAT practice. My coach also helped me with GMAT prep, as well as resources like Expert Global, GMAT Club, and The Official Guide. I would practice 1 Reading Comprehension and 1 Quant question every day for my CAT practice. It was like attempting a Mini-CAT every day. Even if you’re not studying for CAT for 2-3 hours, you are at least making an effort for it every day, and again, that leads to consistency.

Parting Note

1. If there are any ideas in your mind about a project or even a startup, just start working on them. Publish that article, or find that first customer - anything that helps you go from point A to point B.

2. Be yourself. Protect your integrity, and be honest with yourself. Don’t look too much into what others are doing, find your passion.

3. Once you start trusting the process, the results will show.

4. Start reading books! - good books that stimulate the mind and provide you with so much knowledge. I’d recommend This is Marketing by Seth Godin, The War of Art by Steven Pressfield, and Four Hour Work Week by Tim Ferriss, and you can also watch videos by Elizabeth Gilbert, or David M. Kelley.

5. Surround yourself with people that push you toward growth, not resistance.

If you wish to learn more about my journey, feel free to reach out to me on LinkedIn, happy to help! All the best for your college life and beyond :)

Check out Khushi’s Portfolio

Blogs:

khushikatyal.wordpress.com/ 

https://khushikatyal.medium.com/ 

Podcasts:

open.spotify.com/show/7odEBIlE3DqW3SDH3sHynn?si=d1fbd5dc40474ee8 

open.spotify.com/show/3LjF4uT4HwB2QedPMWfT6I?si=45978053cf17445d

This will be all for this week, see you next week :)

Team FinOak