CA toppers Interviews

CA toppers Interviews

• CA topper Pawan Sarda (2nd Ranker):
• “Study 100% of portion, solve 100%”
• 
  

• “IF you want to achieve something that you have never before, you have to do something that you never 
  did before. ”Nagpur boy Pawan lives by this mantra and aced his exam by putting in 12 hours of study
  a day and revising 100%of the portions four times.  
  
  
  His track record prior to CA finals could give many a complex. His achievements include: 8th Rank in 
  PCC (May 2010), scored 98 out of 100 marks in Cost Accounting & Financial Management in PCC and 
  2nd Rank in CPT (June 2008) and AIR 6th Rank in CS Professional (Final) Exam (Dec 2010), 23rd Rank 
  in CS Executive Exam (Dec 2009), 16th Rank in CS Foundation Exam (Dec 2008). 
  
  
  Pawan was also a brilliant student in school. In Class 12 (CBSE) he secured the first position in Vidarbha region
  (93.60% marks) and scored full marks in Mathematics. In Class 10, he obtained 2nd highest Marks in India
  (98.20% marks), secured first position in Maharashtra and scored full marks in Mathematics, Science & Sanskrit.
  He shares his success journey with Rozelle Laha. 
  
  
  Fast Facts 
  
  
  Name: Pawan Sarda
  City: Nagpur
  Exam: CA Final Examination- November 2011
  Rank: AIR Second and WIRC topper
  Roll number: 160339
  Marks: 596
  Percentage: 74.50
  
  
  
  
  Q. Congratulations Pawan. What made you pick CA as a career option? 
   A. Thanks! My elder brother is a CA, and has been my inspiration right from beginning. I am also very inspired 

  by my CA tutor Professor DG Sharma. 
  
  
  Q. Tell us about your experience during articleship. 
   A. I have completed the required 3.5 years articleship at VK Surana & Co., Nagpur. Doing an articleship sincerely 

  did help a lot not only in developing technical understanding and conceptual clarity of the subjects we studied

   but also in building the confidence required to handle and sustain pressure situations and managing time effectively.
  
  
  Q. Did the alternate day schedule of CA exams work for you?
   A. Yes, definitely the alternate day schedule helps a lot. If we have one complete day leave before the next 

  paper we can plan the study really well. For each paper I had made 20-hour plans so that the complete portion 

  could be revised within the stipulated time.
  
  
  Q. So, what was your preparation strategy?
  A. I had a single basic strategy – to study 100% of the portion and solve 100% of the paper. The essential 

  part was mental preparation. Once you decide not to give up come-what-may, that determination and 

  persistence takes you through. I planned studies well in advance. My target was to complete at least 

  four readings of each subject before the exams. I set a target to complete the first reading in two months 

  time up to the end of August. 
  
  
  Next I completed the first revision by the end of September. In the first week of October we had Test 

  Series at CAPS (coaching institute) which helped us a lot to find out where we stand and the areas 

  which require special attention. Next I tried to complete another reading (important areas) during 

  the last 20 days before the exams. The exam days were the most crucial ones and I tried and 

  went through the entire portion by following the 20-hour plans.
  
  
  Q. Is coaching important? 
  A. I took coaching for three practical subjects – Accountancy, Financial Management & Costing. 

  For other subjects I had not taken any coaching. I feel that except for the practical subjects, 

  self-study is the way to go. Even if you attend classes, you have to ultimately study the subjects on your own.
  
  
  Q. Do you advocate studying for long hours?
  A. I planned my studies topic-wise. On an average I studied for 12 hours a day. I believe that if you 

  want to achieve something that you have never before, you have to do something that you never did before.
  
  
  Q. Any tough subjects?
  A. Initially, I found Indirect Taxes to be a challenging subject. So, I decided to tackle my fear in the 

  best way I know – face it, convert weakness into strength. In the last 20 days just before the exams,

   I planned to study this subject daily for three hours. In the end I got tremendous confidence and scored 

  the highest marks (86) in this subject! 
  
  
  Q. CA programme is tough. Truth or myth?
  A. It’s not as difficult as it is perceived to be. It is all about holding your nerves. One, who plays the mental 

  game well, is the “king of the ring”. It is very easy to give up but if you hold on and don’t give up at the critical

   moment, success is bound to come. If perceived in the right way CA exams can be enjoyed and success can

   be achieved. If you do not study now, you will have to study later and that too a lot more under much more 

  mental pressure.” So give the best you can in the very first shot and challenge your limits instead of limiting ur challenges.
  
  
  Q. What is your advice to future CA aspirants?
  A. Take your articleship sincerely. A golden mantra is ‘Plan your work and work your plan’. Time management

   is the name of the game. Our Sir always said, try to understand everything and do not memorise anything. 

  Developing conceptual clarity is a very crucial aspect of CA studies.

  
  

  
  

  "No fulltime job for me," says CA topper Pavan(3rd Ranker)

  

  
  

  All India third ranker in the CA Final exam, Pavan Pal Sharma from Bangalore,
  shares  that articleship gives you the confidence in the world of work.
  

  Fast facts:
  Name: Pavan Pal Sharma
  City: Bangalore
  Exam: CA Final Examination- November 2011
  Rank: AIR third and SIRC topper
  Roll number: 107594
  Marks: 589
  Percentage: 73.63
  Graduating college: Sri Kumarans Pre-University College, Bangalore

  
  

  AN All India Rank holder at various levels of the CA programme, Pavan Sharma has done it again in the CA 

  Final Exam! Son of a commerce teacher, Pavan wanted to pursue CA since his school days. Hailing from 

  Bangalore, India’s IT hub, he  was determined to do something other than IT! 

  
  

  He owns an investment banking firm in Bangalore and believes that setting up an organization is far more 

  challenging than taking home a bonus. Pavan, also a topper of Southern India Regional Council (SIRC), ICAI 

  and an advocate of “study smart” rather than “study hard” shares his preparation strategies and future 

  plans with Rozelle Laha.

  
  

  
  

  Q. Congratulation Pavan. When did you decide do a CA?
  

   A. I had decided to do my CA when I was in class 9. CA seemed to be a good option as my father teaches commerce 

  and the subject/course seemed close to my heart.

  
  

  Q. Is this your first big success?
  

   A. After my 10+2, I wrote my CPT examination. I achieved 7th All India Rank (AIR) in that exam (August 2007). 

  I also appeared for CA – PCC exams in June 2009. I acquired an AIR 30 in it.

  
  

  Q. Did you do an articleship?
  

   A. I have done my articleship with Balakrishna & Co., Bangalore for 3 and half years. I was one of the first article 

  assistants of my Principal. I decided to do an articleship with some company where I could actually learn. I got the 

  opportunity of handling good audits, transfer pricing, due diligence and attended a few hearings at the IT offices.

  
  

  Q. Does doing an articleship help?
  

  A. Articleship gives you a practical exposure to what the real world is. What you get to do at a CA’s office is very 

  different from theoretical knowledge. Articleship gives you confidence to face the world. It is an important aspect 

  of our course and that is what sets us apart. And if you get to do your articleship with some good brand, then your

   future is made.

  
  

  Q. You cracked CA finals with a good score in your first attempt. Tell us something about your 
  preparation strategies.
  

  A. I have always stood by the fact that each one need to develop a strategy for oneself. My strategy was to

   “study smart” rather than “study hard” – it always helps. I am firm believer of conceptual learning. That is what

   will save you in those 3 hours of exam. Learning by rote is not a safe option at any level of professional examination

  – especially CA final. I cannot put down my study hours in numbers– all I can say is that I slept, ate and studied.

  
  

  Q. Do you think coaching is important?
  

  A. My tutor always used to say “if you wish to pass – do not come to tuitions. If you wish to become a good CA – 

  then come to tuitions.” I think that would answer most of the questions in a succinct manner. I attended classes for

   four subjects out of eight. I do believe coaching is necessary, but not to the extent that you outsource your thinking

   too. Tuitions aren’t everything.

  
  

  Q. Do you want to continue studying?
  

  A. I wish to pursue a career in Actuarial Sciences – Finance sometime later in the course of my career.

  
  

  Q. You have your own company. Tell us something about your concept of entrepreneurship.
  

  A. I run my own company, Equidebt Corporate Advisors Private Limited. We are investment bankers based

   out of Bangalore. I find it morally pleasing to work for myself than to work for somebody else. I know that 

  if I do go out for employment, I would be able to earn well. But then again, money isn’t everything in life. I 

  wish to take my company to new echelons.

  
  

  Q. Your advice to CA aspirants….
  

  A. My mother once told me, “Exams are only a phase in your life.” I completely agree with her. Getting bogged down

   by pressure due to exams will not get you anywhere in life. Just believe in yourself. You can do anything in this world.

2012: Smart ways to save tax & take advantage of DTC

 

Over the next 90 days, millions of Indian taxpayers will wrap up their tax planning for 2011-12. Unlike in the past, this year's tax planning will be quite different as not only have the rules changed, but many of the goal posts have also shifted.

The biggest change is that the favourite tax-saving instrument of risk-averse investors has now become market-linked. The Public Provident Fund (PPF) will give returns that are 25 basis points above the benchmark yield of the 10-year government bond.

Then there is the Direct Taxes Code that may come into effect from April this year. There is also a small, but significant, change for senior citizens.

Last year's budget lowered the age limit for senior citizen taxpayers from 65 to 60. It also introduced a new category of very senior citizens above 80 with a big exemption of Rs 5 lakh. Despite these alterations, some fundamental principles of tax planning remain unchanged.

Your tax planning should still be guided by your overall financial planning. "Don't go by advertisements because not all tax-saving investments will suit you," says Mumbai-based financial planner Kalpesh Ashar.

Your choice of instruments should depend on how soon you need the money, your expectations of returns and ability to take risk. Let us look at the instruments that different types of investors should have in their tax-saving portfolio this year.

Take the ELSS advantage: For the taxpayers who embraced market risk by investing in equity-linked savings schemes (ELSS), this may be the last year for investing in this category. The DTC has not included ELSS in the list of tax-saving options. These funds have the shortest lock-in period of three years among all Section 80C instruments. So, your funds are not tied up for five years as in fixed deposits (FDs) and National Savings Certificates (NSCs).

"Given the three-year lock-in period and the level at which the markets are now, it is unlikely that an investor will lose money by investing in ELSS," says financial consultant Surya Bhatia.

The low minimum investment in these funds (you can start with as little as Rs 500) makes them an ideal stepping stone for the rookie investor.

However, don't forget that ELSS funds can be risky. So invest systematically rather than in a lump sum. Remember, you have to invest the money before 31 March.

"There is a lot of uncertainty in the market now and it is best to exercise caution and stagger investments in ELSS funds," says Ajit Menon, executive vice-president and head of sales and marketing, DSP BlackRock Mutual Fund.

Investors can also opt for equity exposure through Ulips. Unlike ELSS funds that cannot be touched during the lock-in period, these insurance-cum-investment plans allow policyholders to tweak the equity and debt allocation according to the market conditions. The New Pension Scheme also gives equity exposure, but this is limited to a maximum of 50% of the corpus.

Save extra Rs 9,270 through the PPF this year: The overall limit for investing in the PPF has been raised to Rs 1 lakh now from Rs 70,000 earlier. For someone in the highest tax bracket, this enhanced limit of Rs 30,000 means a potential tax saving of Rs 9,270 a year. "By itself, the PPF is a good long-term investment option, even if it is not done because of tax planning," says Bhatia.

 

 

Lock into tax-saving FDs at high rates : For the taxpayers who shy from market risk, fiveyear FDs are the only remaining true fixed income tax-saving instrument.

Even long-time favourites, such as the PPF and NSCs, have become market-linked. Even if the 5-year benchmark bond yield moves up to 9%, NSCs will offer an interest rate of 9.25%. Banks are already offering higher rates of 9-9.5%. For senior citizens, the Senior Citizens' Savings Scheme has become a little attractive.

It will offer an interest rate of 100 basis points above the 5-year government bond yield. But again, tax-saving FDs appear a better bet because banks offer senior citizens a 25-50 basis points higher rate of interest. Be careful with insurance:

For those who flocked to Ulips and insurance policies, there is uncertainty looming on the horizon in the form of the DTC. Under the DTC, insurance plans that don't give a life cover of at least 20 times the annual premium will not be eligible for deduction.

While the DTC is yet to be passed, there is no clarity for now on the new rules for tax deduction and taxability of insurance income.

These are among the various issues you will need to grapple with when you decide your Section 80C mix for this year. An early start allows you to make an informed decision. Leave everything for the last few weeks of the financial year and you are likely to make a suboptimal choice in your hurry to beat the 31 March deadline.

ET Wealth takes a look at the various investment options under Section 80C and explains the pros and cons of each of these investments.

EMPLOYEE PROVIDENT FUND

This compulsory deduction is also an automatic tax saver. Your monthly contribution to the EPF is eligible for tax deduction under Section 80C. The best part is the tax-free corpus. The only hitch is that you cannot access this money till you retire. If a subscriber is diligent, even if he gets a modest basic salary of Rs 25,000 at 25 years, and a 10% raise every year, his EPF will make him a crorepati by the time he retires. So, don't give in to the temptation of withdrawing your PF while changing jobs.

If you do this within five years of joining, not only will the withdrawn amount be taxed, even the tax benefits availed of in the previous years will be reversed. Some companies offer consultancy jobs with no EPF contribution. While this pushes up the take-home income, the employee is denied a crucial safety net and the chance to build a tax-free retirement corpus. 

 

 

 

PUBLIC PROVIDENT FUND

This option has become even more attractive after the interest rate was benchmarked to the 10-year government bond yield. This year, the PPF will earn 8.6%, 25 basis points above the average benchmark yield in the previous fiscal. The rate will be determined by the yields of gilt securities in the secondary market. This will ensure that the PPF returns are in line with the prevailing market rates.

The annual investment limit has been raised from Rs 70,000 to Rs 1 lakh. Both these changes mean that the PPF investors can build a bigger corpus in the 15-year period. While individuals can extend their PPF accounts beyond 15 years in blocks of five years, HUFs will no longer be allowed this facility.

When you invest in the PPF, the interest is compounded annually, but calculated monthly on the lowest balance between the fifth and the last day of every month. If you invest before the fifth, the contribution will earn interest for that month too. Keep in mind that you must invest at least Rs 500 in the PPF during a financial year or pay a penalty.

NSCs AND BANK FIXED DEPOSITS

Like the PPF, the interest on NSCs has also been linked to the government bond yield in the secondary market. The tenure has also been shortened by a year to five years. The new 5-year NSC will offer an interest rate that is 25 basis points above the 5-year bond yield. Through this step, the government has breathed new life into an instrument that had almost gone the way of T-Rex and its Jurassic cousins.

The government has also introduced a 10-year NSC, which will carry a coupon rate of 50 basis points above the 10-year bond yield. However, tax-saving FDs offered by banks are a better option. Even if the 5-year benchmark bond yield moves up to 9%, the NSC will offer an interest rate of 9.25%.

Banks are already offering higher rates of 9-9.5%. Sure, bank deposits cannot match the safety of a sovereign guarantee that the NSC carries, but if you choose a stable PSU bank or a reputed private bank, there is no reason to worry. 

 

 

SENIOR CITIZENS' SAVINGS SCHEME

This assured return scheme has also become a market-linked option from this year. The interest rate of 100 basis points above the 5-year government bond yield is attractive.

However, again, tax-saving FDs appear a better bet because banks offer senior citizens a 25-50 basis points higher rate of interest. This means the interest rate offered is almost 75-125 basis points higher than that offered by the SCSS.

The only good thing about the 5-year SCSS is that it gives a quarterly payout, which is very important for retirees. Plus, there is also the assurance of government backing. The only glitch: there is a Rs 15 lakh investment limit per individual.

This year's budget has removed an important lacuna in rules regarding senior citizens. Till last year, banks and the Senior Citizens' Savings Scheme considered an individual a senior citizen when he turned 60, but the taxman waited for another five years before extending him the benefit of a lower tax rate. The age limit for senior citizen taxpayers has now been reduced to 60 years.

EQUITYLINKED SAVING SCHEMES

Tax-free dividends, no tax on income, shortest lock-in period, flexibility of investments and potential to give high returns.

All this makes ELSS funds possibly the best way to save tax. However, it may be the worst way to avail of your Section 80C limit if you tend to be reckless with investments and if notional losses give you sleepless nights. ELSS funds carry the same risk as an equity fund, so the SIP route is the best way to go about it.

You may not have too much elbow room if you haven't already made some taxsaving investments for this financial year. Splitting Rs 70,000-80,000 into three monthly instalments before 31 March will not really serve the purpose.

However, if you plan to invest about Rs 15,000-30,000 in ELSS this year, split the sum into three monthly instalments of Rs 5,000-10,000 each.

Go for the dividend option if you want to book profits periodically. There are apprehensions that the ELSS option will end after the DTC comes into force. However, the industry expects that its representations to the Finance Ministry will be heard and the tax benefits restored.

ELSS is seen as a good way of initiating an investor into equity funds. "When the first-time investor will get good returns, he will start putting more into mutual funds and get into the investing habit," says Vikaas Sachdeva, CEO of Edelweiss Mutual Fund. 

 

 

UNIT-LINKED INSURANCE PLANS

Most invest in Ulips don't know what they are buying. Otherwise, why would they want to surrender a Ulip after the mandatory 3-5-year lock-in period? Just when the pain of the initial years is over and the gains have started, they exit the policy or stop paying the premium.

Buy a Ulip only if you can continue the plan for at least 12-15 years. Before that, the plan may not be able to recover the charges levied in the first few years.

Used well, a Ulip can be an effective asset allocation tool. For this, the investor should be aware of the switching facility as well as understand the various funds in which the Ulips can invest.

You can invest your Ulip corpus in equities as well as debt funds. Currently, long-term debt funds are attractive because of the possibility of a rate cut.

Look at the fact sheet of your Ulip to see which fund holds long-term government bonds and invest this year's premium in it. Use the debt fund even if you want to invest in equities.

Put this year's entire premium in the debt fund and then systematically transfer small amounts to the equity fund in monthly instalments of Rs 5,000-10,000. This way, you will be cushioned from the volatility in stock markets and gain from the rise in the bond market.

Make sure your insurance plan is DTC-compliant. The DTC says that to claim tax deduction and tax exemption on maturity, an insurance plan must offer a cover of 20 times the annual premium. Buy a plan only if it meets this criterion.

LIFE INSURANCE POLICIES

The default option for the lazy investor, traditional life insurance policies are perhaps the worst way to save tax. After Ulip charges were capped by the Insurance Regulatory and Development Authority (Irda), insurers have started pushing these debt-based plans.

The buyer pays a heavy price by getting returns that cannot match inflation and get an insurance cover that is too small to be of any significance.

"Customers can choose the specific insurance solution depending on their goals, but they should not compromise on addressing their insurance need," advises Deepak Sood, CEO & MD, Future Generali Life Insurance. Keep the DTC in mind when you buy a life insurance policy. While the DTC is yet to be passed, it has not explicitly stated whether the new rules for tax deduction and taxability of insurance income will be with prospective effect. However, it seems unlikely that the rule will be with retrospective effect.

If existing policies are also brought under the ambit, 95% of the policies will lose their tax benefits. Even so, don't buy an insurance policy only to get tax deduction and tax-free income. A PPF account will serve this purpose better. The tax deduction on life insurance brings down the effective cost of the cover. So, if you are in the highest 30% tax slab and pay Rs 10,000 a year for your term insurance cover, your effective cost is only Rs 7,000 a year. This should prompt you to buy a bigger term insurance cover. 

PENSION PLANS

This is a useful tool for retirement planning. There are three types of pension plans in the market. Unitlinked pension plans are sold by insurance companies. They offer greater transparency, flexibility and control to the investor. Just like a Ulip, you can tweak the asset allocation in your pension plan depending on your reading of the market and risk appetite. Buying one is fairly easy.

Then there is the New Pension Scheme, which also invests in a mix of equity, debt and money market instruments. The investor can choose any of the six fund houses to manage his investments. However, investing in the NPS is not an easy task because the intermediaries are not interested in selling a scheme that offers them a pittance in commission. There are other concerns as well.

Some of the NPS funds are routinely violating the investment mandate. The NPS itself has not been able to put in place the necessary back-end operations as envisaged in the original architecture of the scheme. You still can't buy from more than one fund house, thus limiting the choices for the investor. The simplest pension plans are those being sold by mutual fund houses.

The only thing that differentiates these plans from regular funds is the stiff penalty imposed on withdrawals before the investor turns 58. Before you invest in a pension plan, remember that on maturity only 33% can be withdrawn and the rest must compulsorily be used to buy an annuity.

This annuity will pay the investor a monthly income. Till date it was possible to buy a pension plan from one company and shift to another for an annuity when the policy matured. Now, Irda wants that the annuity must also be bought from the same insurer. This is why many companies have stopped selling pension plans.

INFRASTRUCTURE BONDS

The new Section 80CCF gives you an additional tax deduction of Rs 20,000 invested in long-term infrastructure bonds. The higher the tax bracket, the more one saves in tax. An investment of Rs 20,000 will translate into tax savings of Rs 6,180 for those in the highest 30% tax slab (taxable income of over Rs 8 lakh a year).

If you factor in the tax savings as well as the tax on interest income, this is an effective return of almost 14.5% for an investor who exits after five years. For those in the lower 20% tax bracket (earning up to Rs 8 lakh a year), the tax savings will be lower at Rs 4,120.

In the lowest tax bracket (annual income of up to Rs 5 lakh), the investment will save Rs 2,060 in tax. One good thing about these bonds is that after the lock-in period, they can be sold in the secondary debt market. Experts say it is a good idea to invest in the long-term bonds at current rates and hold for a few years. Interest rates seem to have peaked out and when they fall, the value of these 9-9.25% bonds will zoom in the secondary market. 

 

 

HOUSING OPTION LOAN REPAYMENT

If you are paying a big EMI on your home loan, there may not be much left to invest in tax-saving options. But don't fret. The principal portion of your home loan EMI gives you tax benefits under Section 80C. This also brings down the effective cost of the loan. To optimise the benefits, take a joint loan with your spouse or parent.

Both co-owners of the property can separately claim tax benefits on the home loan. However, don't let the tax breaks tempt you to extend the tenure of your loan. The shorter the tenure, the better it is.

TUITION FEES

Fuming over the rise in your child's school fee? Here's the good part. The tuition fee paid for up to two children is also eligible for deduction under Section 80C.

This includes the tuition fee paid to any recognised educational institution, playschool and creche. Foreign colleges and universities and private coaching classes do not qualify for the deduction. Also, the fee has to be for the taxpayer's own children and not siblings, nephews, nieces or grandchildren. Also, the benefit cannot be availed of by both the parents.

If there's only one child, only one of the parents can claim the tax benefits on the school tuition fee. Otherwise, each parent can claim the tax benefit for different children.  

 

Source: Economic Times.

Navin Agicha.

TIPS TO IMPROVE  YOUR MEMORY

1.   Take tests - Why do we push things into memory. Because, we would like to recall it when the need arises. How do you know you will be able to recall when you need it? Simple, Take tests periodically and makes repeated attempts in recalling. Regular recall improves memory.

2.   Take breaks - If you have 3.5 hours to read, break it into 4 parts: 45 minutes followed by a 5 to 10 minute break. Studies indicate that you can't concentrate for more than 45 minutes.

3.   Sleep on it - What you review immediately before going to sleep is what your brain will most quickly and efficiently file away. So review just before sleep.

4.   Relax -The Thinking Brain functions best when you are relaxed and free from stress.

5.   Reading habits - Read out loud; don't bother if it disturbs others at home. Walk while you read; don't bother if it disturbs your others at home.

6.   Draw charts. Write and rewrite key ideas and formula.

7.   Use flash cards - Flash cards facilitate constant review and instantly help to check output. Rules, principles, formulae should all go into it.

8.   Revision - You should revise shortly after the learning period. At first, say within 10 minutes after learning and then, again, within the next 24 hours. The reason: when you finish learning, the brain has not had enough time to organise and store everything. It needs a few minutes to store, organise and integrate the data. Studies show that 82% of what you learn today can be forgotten in 24 hours if you do not make a special effort to remember it.

9.   Interest is the mother of attention and attention is the mother of memory.

10.  The best way to remember is to repeat; and the best way to repeat is to “teach” some one else.

11.  If exhaustion or drowsiness comes on frequently, take some phosphate tonic, preferably kali phos 6x or 12x prescribed by homoeopaths.

QUOTATIONS

F Sit like a rock and work like a clock.

F Count your life by friends not by years.

F Necessity is the mother of invention.

F There are many things of which a wise man may wish to be ignorant.

F Some books are to be tasted, others to be swallowed and few to be chewed and digested.

F Do good to your friend to keep him, to your enemy to gain him.

F The smallest good deed is better than the greatest intention.

F Respect your enemies for their good qualities.

F Kindness is a language which the dumb can speak and the deaf can hear.

F Do not think so much on others faults, that you forget your own faults.

F There is keen competition at the bottom but there is always vacancy at the top.

F Give to the world the best that you have and the best will come back to you.

F If you have 50 friends - It is not enough but If you have one enemy - It is too much.

F Winners make it happen and losers let it happen.

F Doubters do not win and Winners do not doubt.