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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its...

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its worth not only during festivals, but also during uncertain times. Whenever the world faces wars, inflation, currency weakness, economic slowdown, or financial panic, investors across the globe look at gold as a safe haven. This is because gold has a unique quality. It is trusted across countries, cultures, and generations. It does not depend on the promise of one government, one company, or one currency. Why Gold Holds Value Unlike paper currency, gold cannot be printed endlessly. Unlike businesses, it does not depend on profits or management quality. Unlike real estate, it is globally accepted and easily valued. This is why gold continues to remain one of the oldest and most respected stores of value. It has survived centuries of change, economic cycles, wars, and financial crises. The Right Role in Your Portfolio That said, gold should not be treated as a shortcut to wealth creation. Equities and equity mutual funds still remain essential for long-term growth. Gold plays a different role. It brings balance, stability, and protection to your portfolio. When equity markets are volatile or global uncertainty rises, gold often provides comfort. A sensible allocation of around 10-20% to gold can help reduce overall portfolio risk.  So basically, while stocks and equity mutual funds play the lead role in your long-term financial goals, gold plays the supporting but essential role. Physical Gold Has Limitations However, the way you invest in gold matters. Buying physical gold during festivals may feel emotionally satisfying, but it comes with practical challenges. There are making charges, purity concerns, storage issues, risk of theft, and liquidity problems. A necklace may be beautiful, but you cannot easily sell only a small portion of it when you need money. Also, when gold is bought as jewellery, the investor often forgets to calculate the actual return after making charges and deductions. Smarter Ways to Invest This is where Gold Mutual Funds and Gold ETFs become useful. They allow you to invest in gold without worrying about lockers, purity, theft, or storage. You can invest flexible amounts, start SIPs, track value easily, and redeem conveniently when required. For investors who want gold as part of their financial plan, these options are far more practical than buying jewellery purely as an investment. Tradition with Financial Clarity Akshay Tritiya is a beautiful reminder that wealth should be built with faith, patience, and clarity. Buying gold is auspicious, but buying it in the right form is financially wise. This Akshay Tritiya, celebrate tradition - but also upgrade your financial thinking. Because true prosperity is not just about owning gold. It is about owning it smartly. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Love in the Time of Glasnost

As the Cold War entered its twilight and Gorbachev’s glasnost began to thaw decades of ideological frost, Australian director Fred Schepisi gave us ‘The Russia House’ (1990) from John le Carré’s 1989 novel - a bruised, adult meditation on trust and love, wrapped in the attire of a spy thriller.


While it proved too cerebral and ‘slow burn’ for most audiences at the time, it is time today to recognise Schepisi’s film as one of the most accomplished adaptations of a le Carré’s novel, surpassed only by The Spy Who Came in from the Cold (1965) and the twin Alec Guinness-led BBC mini-series of Tinker Tailor Soldier Spy and Smiley’s People.


Blessed with a cracking screenplay by Tom Stoppard, the central premise of ‘The Russia House’ is that decency requires sacrifice and that truth in a world of professional liars is the most dangerous thing of all. The result is not so much a thriller as a conversation between two weary cultures, carried out through jazz, vodka and the furtive optimism of people no longer quite sure what they believe in.


Barley Blair (played by Sean Connery) is no Bond. He is a man out of time, a dishevelled, jazz-loving, boozy London publisher who shambles through his own life with a blend of charm and remorse. Blair is drafted into an amateur game of espionage when a manuscript from a dissident Soviet physicist code-named ‘Dante’ (the magnetic Klaus Maria Brandauer) is delivered to him via a luminous Muscovite, Katya Orlova (Michelle Pfeiffer). The manuscript, a blueprint for the weakness of the Soviet military complex, threatens to disrupt the delicate detente.


But this is no standard spy caper. The real secrets here are emotional. What does it mean to risk oneself for another?  “Today one must think like a hero to behave like a merely decent human being,” Barley declaims.


The Western intelligence services - British and American alike - are shown as bureaucratic machines blind to humanity (a running le Carrean theme since ‘The Spy who came in from the Cold’). And love, when it arrives, is “inconvenient” and ultimately redemptive.


Connery gives a performance of immense subtlety and self-effacement. His Barley is no action man, but a man of regrets, illusions and unexpected conviction. He is a man in late middle age grappling with the possibility that ideals can still matter. Pfeiffer, poised and tragic, makes Katya more than a cipher. Her strength is in her dignity and soft defiance of a system that devours its children. Together, they convey an intelligent, unshowy and profound middle-aged love rarely seen on screen (never mind espionage cinema).


Around them, the supporting cast hums with restrained brilliance. James Fox is splendid as the sympathetic spymaster Nedsky while Roy Scheider’s CIA man exudes that peculiar blend of charm and menace only an American can project in a le Carré story. The difference in spycraft cultures - patient British cynicism versus American pragmatism and force - is elegantly suggested rather than declaimed.


The film’s mood is immeasurably enhanced by Jerry Goldsmith’s superb jazz-inflected score, featuring Branford Marsalis on the saxophone. The music itself is a lament - sinuous, melancholic and oddly hopeful. Ian Baker’s cinematography captures the wan, grey beauty of Moscow and Leningrad in the thaw of the Soviet empire’s last days. There is something elegiac about it all.


As the Cold War collapses not with a bang but a shrug, ‘The Russia House’ captures the existential confusion of a world that no longer knows how to divide right from wrong.


There are no heroes here, only fallible people navigating collapsing ideologies. The West’s self-congratulatory assumption that it has “won” the Cold War is gently punctured in Barley’s idealistic choice to sell the ‘shopping list’ to the Soviets to save Katya and her family - a decision driven by love and conscience, two things intelligence agencies across the world regard as liabilities.


Schepisi steers the film with unhurried elegance and intelligence, trusting in the power of silence, of glances held a second too long. That makes ‘The Russia House’ too slow for attention-deficit audiences raised on explosions and double-crosses. But for those attuned to its wavelength, it offers riches few thrillers even aspire to.


Thirty-five years on, The Russia House remains an anomaly - a thinking person’s spy film that also functions as a poignant love story, a cultural document and a farewell to a world that once seemed more morally navigable. It is time we gave it its due.

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