Tuesday, December 30, 2014

Canada Big 5 - Annual Results

So all Big 5 canadian banks declared their annual results for 2013-2014 period ending on October 13.

Below is their comparative charts:


2012-13 (Ending Oct 2014) RBC TD Scotiabank BMO CIBC
Revenue (Billion $) 30.68 27.26 21.61 16.06 12.70
Net Income (Billion $) 8.34 6.64 6.61 4.20 3.40
EPS ($) 5.49 3.44 5.11 6.17 8.11
Adjusted EPS ($) 5.53 3.71 5.15 6.21 8.11
Dividand 2.54 1.62 2.39 2.92 3.8












2013-14 (Ending Oct 2014) RBC TD Scotiabank BMO CIBC
Revenue (Billion $) 34.11 29.96 23.96 16.72 13.41
Net Income (Billion $) 9.00 7.88 7.90 4.33 3.20
EPS ($) 6.00 4.14 5.66 6.41 7.86
Adjusted EPS ($) 6.03 4.27 5.69 6.59 7.87
Dividand 2.84 1.84 2.56 3.04 3.94


















Change 2013 to 2014 RBC TD Scotiabank BMO CIBC
Revenue (Billion $) 11.2% 9.9% 10.9% 4.1% 5.6%
Net Income (Billion $) 7.9% 18.7% 19.5% 3.3% -5.9%
EPS ($) 9.3% 20.3% 10.8% 3.9% -3.1%
Adjusted EPS ($) 9.0% 15.1% 10.5% 6.1% -3.0%
Dividand 12.0% 13.6% 7.1% 4.1% 3.7%

Sunday, November 30, 2014

A Trip to the Sin City and the City of Dreams - LV & LA

As days of going back to school were coming closer, we decided to have this one more trip to two of the best global destinations - Las Vegas & Los Angles. Although, we were planning to have this for  a long time, but few other trips (Miami-Orlando & NYC-Washington) in between derailed the plan to visit the Sin City.

Although I had already been to LV in Dec-2009, this was the first time I was planning to go to LA. However, last time, it had become very cold when we were in LV and therefore, I wanted to ensure this time we plan it before US Thanksgiving. And as you may know, the best time to visit LV, a desert, is Oct-Nov, when days are not very hot and nights are not very cold. So we finalised our travel dates to be Nov-19 to Nov-24. We were planning to spend 3 nights in LV and 2 nights in LA. Though I wished, I booked it for longer so could enjoy more time in both the cities.

Habitual of taking domestic flights, I forgot to keep a time margin for Immigration formalities at Toronto Pearson Airport. We reached the Airport 5 minutes after the check-in counter was closed. This was the first time, when I had to plead the airline staff to allow us to go even though she said that she wouldn't delay the flight if we didn't make to the gate on time. Got through the first hurdle of check-in, we were lucky there was no big queue on the immigration counter but found ourselves in a long queue of security checking. We were getting very anxious, and when security office asked me about the liquid gels in my bag that were above 100 ml limit, I just asked him to throw them instead of arguing with the reasons.

Carrying my duffle bag in both hands as if I am carrying a baby, I and my wife started running towards the gate and was able to made to the flight before the gate closed. It was the second time (after my inaugral internationl flight, Mumbai - New York) when I was about to miss the flight but ultimately was able to made it. Anyway we took a deep sigh of relief, when we sat on our seats. From east cost to west-coast, it was going to be a long flight of 5+ hrs. However, because of time difference, we landed at LAX at 12:30. We needed to  change our flight to LV, after 1 hour. so we enjoyed our Privilege Lounge access (thanks to BMO Elite Card) for a while and got on to another flight bounded to LV. 

Las Vegas:
In a short 1 hour flight, we reached LAS at 3:30 PM. Here we needed to pick a car from SixT Car rental company, which was outside the airport, and we were required to take a train to the Car Rental office. This whole process stole 2 hours from our time. After picking our car, as we do on all the trips, instead of going to Hotel from here, we headed to nearest Walmart, about 5 miles from the car rental company. we picked up snacks for us and headed to the hotel.
During our last trip, as bachelors, we had stayed in Imperial Hotel. It was right opposite Ceasers Palace. Although that hotel was not in business anymore, I was convinced that I wanted to stay somewhere near the same location. And therefore, we decided to stay in Flamingo Hotel. It was a lovely hotel, and using my BMO elite card, I also got special offer on price as well as food. It was indeed a great deal. 
In the hotel, as happens always in any LV hotel, we were standing in a serpentine queue to get our checkin formalities done while casino was gradually warming up. However, while my wife, stood in the queue for me, I tried my hand in blackjack, but before could loose more, I became wise. Soon we were in our room for some private time.

Bellagio Musical Fountains
When on the strip, you can just roam around and enjoy the view without doing anything else. As we passed through various hotels like Caeser's Palace and Bellagio, the first thing you shouldn't miss at any cost is Bellagio Musical Fountains. I believe it is one of the most enjoyable things on the Strip. We drove to Luxor Hotel to see Egyptian theme and gambled in MGM Grand at par - No loss and No Win. Besides this, if you are a fan of theatre and drama, Las Vegas hosts many live shows and one show you shouldn't miss is Blue Man Show. I believe it is one of the best mono acts happen anywhere in the world. 

Second day morning,  we drove to Hoover Dam and Grand Canyan. Although, we were not very interested in going to Grand Canyan, but I believe it is a great view if you have enough time to go as it takes few hours of your schedule. A Bus takes you to the actual canyans as you are not allwed to drive beyond a the ticket booths. A magnificent engineering marble, Hoover Dam is one of the grandest want man-made water body I have ever seen. A magnum opus in itself, it makes you appreciate the grand vision the team that put Hoover dam to reality had. It was a lovely drive to to Hover Dam. we were back to our hotel by 4 PM. We had our dinner in one of the indian restaurents adjacent to the strip.

Gandola Ride
Third Day, we moved to Circus-Circus Hotel as we wanted to cover north part the strip. Circus-Circus is a good hotel, but it is very secluded from all the buzz of the strip. So, I wouldn't recommend it to everybody. We started our morning with some shopping from Las Vegas North Premium Outlet Mall and ended our day in Venetian with Very romantic event of the trip - Gandola ride followed by fun in the 'Tao' night club. If you are newly-wed OR soon-to-be-committed, these are two things you should not miss at any cost. 

Los Angeles
Next Morning, we headed to our next destination - LA.to LV is abour 4 hours, 270 miles away. Starting at 9 AM, we reached our next hotel - Best Western Hotel, Norwalk Inn. We chose this hotel because of its location. It was almost equi-distant from various attraction of LA - Santa Monica Beach, Long Island Beach,  Hollywood, Griffith Observatory etc.

Griffith Observatory
After checking-in, we headed to Griffith Observatory. About 30 mins away from the hotel, we reached there in time well before sunset. However, one thing you may find difficult to get near the observatory is the parking. it is very crowded, and weekend evening is even more. So, be ready for that. It was a lovely evening which ended with some scientific knowledge.

Next day, we wanted to visit many places, and to ensure we are able to cover all of them required a tight planning. The best way to do that is put all destination on the map and visit them in sequence, while also considering their opening/closing or best visit time. So I created a plan for us as - Santa Monica Beach / Pear, Beverly Hills, Hollywood Walk of fame, Hollywood sign, Walt Disney Concert Hall, and Union Station.

By keeping beach visit in the morning or evening, you can enjoy both sunrise & sunset at the beach. Most of the other places were of historical significance, and for us largely photo venues. Overall drive of 100 miles was ok for me while travelling these multiple places. However, having this on Sunday, saved us from the nightmarish traffic of LA. If you want to make it little relaxed, you may skip few of these places.
We ended our evening at Long Beach with
our drinks in our hands. It was a great way to conclude the vacation. Next Morning was little tense, as needed to work with peak hour traffic while travelling to the airport, car rental and then ultimately to the terminal. However, having a flight little late in the morning, made it little relaxed. Travelling via Minneapolis, we were back in Toronto before midnight.

Overall, although hectic, we loved the overall experience and it was great fun. However, as they say 'what happens in vegas, stays in vegas', so wouldn't disclose any more details here ;-).

Saturday, November 08, 2014

Admit from IIM Ahmedabad - Am I living a dream?

Dear Manish Jain, 
Congratulations!

We are happy to offer you admission to our (full-time residential) One Year Post-Graduate Programme in Management for the 2015-16 batch commencing April 07, 2015.

- Indian Institute of Management Ahmedabad


This is one of the happiest days I have seen in recent years. And why not, one doesn't get Admit from IIM Ahmedabad everyday. It's only few handful of students that IIMA admits every year and being one of them is one of the biggest dreams for anybody looking towards management education in India.

However, the journey towards IIMA from application to this moment has truly been a roller-coaster ride.

It was just a month and a half ago when I got an email from IIMA Adcom, asking me to be available in Newark for Interview  just after 15 odd days. My request to have video interview didn't find a taker. Cancelling the planned trip to Montreal and Quebec, I planned my road-trip to New York with my wife, who was pleasantly surprised with this plan but had no idea of the reason behind this plan. I generally keep my important plans secret just to focus on them without having any distraction from any where.
Anyway, Combining the work with leisure was just a way to justify the expensive trip.

Things were on right track until, I happened to call Adcom to confirm about the final details and got to know they had removed my name from in-person interview and put me in a Video interview. It was a real shock for a while as I had made up my mind for In-person interview and didn't want to give up the advantage of personal impression.

However, somehow I was able to convince the Adcom to put me back on the list of candidates for personal appearance. It seemed like the first bluster in the path to IIMA.

Anyway, making it to the interview and getting a favorable result made the whole experience of 'A Trip to New York' a memorable for life, one which would always bring a smile on our faces.

Tuesday, May 06, 2014

Running continues.....

Sunday 4 May, -1 Degree Celsius feels like temperature with strong wind flowing around, ‘Mel Lastman Square’ was buzzing with enthusiastic runners. This was the venue from where thousands of people started another run of their life time. As one of the Half-marathon runners, I was running my first such run outside India and that is in totally opposite weather conditions.

At 8:30 AM, I started my run with a target to finish the run in 2 hours. The wonderful Trail of the World's longest street, Yonge Street, can be called one of the most favorable routes for Marathons. Elevations along the course were also favorable. Passing through main intersection of Sheppard Avenue, York Mills, Lawrence Avenue, and Eglington, we turned towards Bayview Avenue. Beautiful forests around the street led us to the King Street which had the 15 km milestone. Now I wanted to give little rest to my legs. I ran another kilometer before I went for little stretching of my body parts. After this I continued my run towards the finish line. I was running alongside 2 hours pace rabbit.

This was the time when a comparatively easier run had become difficult because of the strong winds. There was a moment when I felt that I would be blown away with the strong wind. Now I was finding it very difficult to breathe as well.

Nevertheless, I didn't want to lose focus from my 2 hours goal. Running besides major attractions of Toronto, I ultimately finished my maiden non-Indian run at the shores of Lake Ontario.
Finishing Marathon is one of the best feelings which I was having at the finish line.