Word: camelizing
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...money managers at Dodge & Cox have heard the adage that a camel is a horse designed by committee. They politely disagree. Their horse, you see, keeps winning. Each of the firm's four mutual funds has from nine to 18 portfolio managers, and every one gets equal say in which stocks and bonds to buy and sell. "The investment business is permeated with the lore of the individual. We think that's a bad way to manage money," says CEO John Gunn, one of many decision makers. "There are a zillion independent variables, and it's very hard...
...sits on the domestic-equities committee, recalls a very different experience. "Our job inside the firm got easier," he says. "We trimmed as time went on. We just couldn't rationalize the expectations." No finger pointing. No pressure from the boss. And at the end of the day, no camel either...
...where Mandawa sits, a scorching five-and-half-hour drive through the desert from New Delhi. But rather than reminisce about the martial adventures of his forefathers, Kesri Singh is preoccupied these days with his former subjects, the "Marwari" merchants who were once moneylenders and traders in the dusty camel-filled town that sprawls around the ramparts of his castle. "We gave them military protection," he says wistfully of the Marwaris who served his forefathers. "We gave them the rule of law. We gave them everything...
...delights, from bustling local markets to old observatories to tranquil gardens. Further afield, ancient holy towns like Ajmer and Pushkar afford winding urban explorations and peaceful lake views with fewer touts and tourists in the way. The golden city of Jaisalmer, with its Persian-inspired villas and trains of camel caravans, rises out of the desert like a hallucination from The Arabian Nights. Some of India's last remaining great tigers prowl the forests of Ranthambore, while the airy hill station at Mount Abu abounds with shrines and scenic views. Then there is the stunning, 15th century temple complex...
...first sign that we are entering a dead zone is the carcass of a camel, gathering flies and red dust. Since camels can go for three weeks without water, according to local farmers, the heap of fur, hair and bleached bones is an ominous sight. We enter a mud-walled, straw-roofed village. Instead of offering the usual smiles and waves, the children duck away. The reason for the villagers' fear becomes evident a few minutes later: nine turbaned men on horseback, members of the Arab militia known as the Janjaweed, appear with rifles over their shoulders. We are gone...