Head, heart, phallus and arranged louvvu

In response to my arranged scissors series, my stalker has started her own thing called the “karabath series“. In the first (and so far, only) post in that series, she talks about this concept that she describes as “arranged louvvu”. It is a bit convoluted but the essence is that in “arranged louvvu” you don’t blindly get into it. Instead, you put on a rational approach to decide if the counterparty is best for you and if the cost of giving  up on all the other women in the world is covered by the joy this woman brings you, and then make sure that the counterparty satisfies all CMP constraints and only then, in a phased manner, do you fall in louvvu with the person.

It is a nice concept but unfortunately I think the way the stalker has explained it is extremely convoluted, and I think using the head-heart-phallus framework (Kunal Sawardekar, you can abuse me for this also) I can explain this a lot better. So basically the idea is that the phallus is the quickest to react, followed by the head and the heart takes the longest to react.

The way most louvvu happens, the way they show it in the movies is that phallus reacts first (it’s a purely biological reaction, so it’s quick and trustworthy). And then, quickly enough, the heart gets involved. And the thing with heart involvement is tthat it is an extremely illiquid investment – it is really tough to liquidate the “heart investment” without booking significant losses. And since the heart entered the scene before the head also gave its verdict, when the head finally comes into the picture, it finds the whole thing irrational, and thus it goes “love is blind”.

The typical arranged scissors process, however, doesn’t leave you with enough time for the heart to enter the process. And since relatives can’t help you with the phallus process (and since that’s anyway instantaneous) it’s the head that gets involved. It’s the head, the rational head that takes all the decisions there. The heart enters only later, in most cases after marriage.

So the funda is that the stalker is confusing “head involvement” for “arranged process”. What she calls as “arranged louvvu” is a case where one holds back the heart (yeah, it takes effort to do that after phallus has said yes) in order to allow for the head to take a rational decision, and then go ahead with “heart investment” only after head has said yes. This way, the head always has buy-in on any relationship that the heart has gotten into, so irrationality gets minimized to a large extent. And some of the problems of “pure louvvu” are hedged off.

Yeah, it takes effort. It takes effort to hold back the heart once the phallus has given go-ahead. But getting the right amount of head involved at the right time helps in preventing much disaster. It’s the logical way to go about things. “Arranged louvvu” is only a fancy name people give it. And now I don’t really know if the head-heart-phallus framework has made it any easier for you to understand this.

Arranged Scissors 12 – Rejection Sharing Agreements

This is similar to the Klose-Podolski corollary to the Goalkeeper Theory. To refresh your memory, or to fresh it in case I haven’t mentioned this earlier, the Klose-Podolski corollary refers to a case of two close friends who decide to hit on the same person. The implicit understanding is that they don’t regard each other as rivals but blade together, and first get rid of all the other suitors before they engage in one last showdown so that the bladee picks one of them.

We came up with this corollary to the Goalkeeper Theory shortly after the 2006 Football World Cup, during which Klose and Podolki formed a cracking strike partnership for Germany. Later on, they were to play together for Bayerrn Munchen, but like most Klose-Podolski arrangements, they too ended up in bitterness with Poodolski (who scored the lesser number of goals among the two) publicly voicing his bitterness and finally transferring to his “native” Koln.

Now that the crazy digression is out of the way, let me get to the point. Today is the first day of Navaratri, and with the inauspicious “Mahalaya Paksha” having gotten out of the way, arranged scissors is back in full earnest. This also means that I re-enter the market, though I’m still yet to list myself (don’t plan to for a while at least. OTC is said to give superior valuations). And some casual conversation and some not-so-casual phone calls this morning, I have been thinking of the arranged marriage equivalent of the Klose-Podolski arrangement.

So basically, as part of this arrangements, two parties who are looking to hit the same side of the deal strike a deal to share “rejection information” with each other. “Rejection information” can be of the following two types:

  • Today I found out about this girl. She seems to be really good in most respects – good looking, rich, good family background, virgin and all that. But for some (usually random) reason, my son doesn’t want to marry her. Why don’t you try her for your son?
  • Today I found out about this girl. Talked to her, her parents, etc. Doesn’t seem like a good prospect at all. She is either ugly or too “forward” or her family background is bad. I think the chances of her getting along with your son is quite low. Don’t waste your time with her.

Note that both of this is extremely useful information, especially in an illiquid market. What is important here is the nature of people with whom you strike such agreements. The basic thing is that your correlation with them should neither be too low nor too high. Ideally, they should belong to the same/similar caste, should have a fairly similar family background, etc. but the boys shouldn’t be too similar. Yeah, I think that is a fair criterion – they should be as similar as possible in terms of “arranged criteria” but as different as possible in terms of “louvvu criteria”.

Basically if the correlation is too low, then you can’t really trust their judgment on counterparties. On the other hand, if the correlation is too high, then it is extremely likely that they turn out to be “rivals” and that if one party rejects a girl, it’s unlikely that the other party will like the girl. I supppose you get what I’m talking about.

One downside to such agreements that I can think of – it might cause bitterness later on in life, long after the goal has been scored. The feeling that “this guy married a girl that I rejected” or the other way round might come back to haunt you later on in life.

Arranged Scissors 8: Culture fit with parents

That you are in the arranged marriage process means that your parents now have full veto power over whom you marry. Given that you don’t generally want them to veto someone whom you have liked, the most common protocol as I understand is for parents to evaluate the counterparty first, and the “candidate” to get only the people who have passed the parental filter. Then the “candidates” proceed, and maybe meet, and maybe talk, and maybe flirt and maybe decide to get married.

Hypothesis: The chance of your success in the arranged marriage market is directly proportional to the the culture fit that you have wtih your parents.

Explanation: Given that parents have veto power in the process, and given the general protocol that most people follow (which I have described in the first para above; however, it can be shown that this result is independent of the protocol), there are two levels of “culture fit” that an interested counterparty has to pass. First, she has to pass the candidate’s parents’ culture fit test. Only after she has passed the test does she come in contact with the candidate (in most cases, not literally).

Then, she will have to pass the candidate’s culture fit test. By the symmetry argument, there are two more such tests (girl’s parents’ filter for boy and girl’s filter for boy). And then in the arranged marriage setting, people tend to evaluate their “beegaru” (don’t think english has a nice phrase for this – basically kids’ parents-in-law). So you have the boy’s parents evaluating the girl’s parents for culture fit, and vice versa.

So right at the beginning, the arranged marriage process has six layers of culture fit. And even if all these tests are passed, one gets only to the level of the CMP. (given that very few filter down to this level, i suppose a lot of people put NED at this stage and settle for the CMP).

Without loss of generality, let us now ignore the process of boy’s parents evaluating girl’s parents and vice versa (the problem is complex enough without this). So there are basically four evaluations, made by two pairs of evaluators (let us consider parents as one entity – they might have difference in opinion between each other occasionally but to the world they display a united front). Now for each side it comes down to the correlation of expectations between the side’s pair of evaluators.

The higher the “culture fit” you possess with your parents, the higher the chance that you will agree with them with regard to a particular counterparty’s culture fit. And this chance of agreement about culture fit of counterparty is directly proportional to the chance of getting married through the arranged marriage process (basically this culture fit thing can be assumed to be independent of all other processes that go into the arranged marriage decision; so take out all of those and the relationship is linear). Hence proved.

Now what if you are very different from your parents? It is very unlikely that you will approve of anyone that they will approve of, and vice versa. In such a situation it is going to be very hard for you to find someone through the arranged marriage process, and you are well advised to look outside (of course the problem of convincing parents doesn’t go away, but their veto power does).

So the moral of the story is that you should enter the arranged marriage market only if you possess a reasonable degree of culture fit with your parents.

(i have this other theory that in every family, there is a knee-jerk generation – one whose “culture” is markedly different compared to that of its previous generation. and after each knee-jerk, cultural differences between this generation and the following few generations will be low. maybe i’ll elaborate on it some other time)

Arranged Scissors 1 – The Common Minimum Programme

Arranged Scissors 2

Arranged Scissors 3 – Due Diligence

Arranged Scissors 4 – Dear Cesare

Arranged Scissors 5 – Finding the Right Exchange

Arranged Scissors 6: Due Diligence Networks

Arranged Scissors 7: Foreign boys

Bangalore trip update

The recent inactivity on this blog was mainly due to my inability to log on to wordpress from my phone and write a post.  I had gone home to Bangalore for an extended weekend (taking Friday and Monday off) and the only source of net access there was my phone, and for some reason I wasn’t able to log on to NED from that. During the trip I had several brilliant insights and brilliant ideas and wanted to blog them and finally such NED happened that I didn’t even twitter them. Deathmax.

The main reason I went to Bangalore was to attend Pradeep (Paddy)’s reception. I think this is an appropriate time to share the funda of his nickname with the world. Before he joined our school in 9th standard, there was this guy two years senior called Pradeep, and for some reason not known to me he was nicknamed Paddy. I vaguely knew him since I used to play basketball with him, and after he graduated there were no more Paddys in school. So when this new guy came from the Gelf, it presented a good opportunity to get back a Paddy into school. It turned out to be such a sticky nickname that not even IIT could change it.

Friday was Ugadi – yet another reason to be home in Bangalore – and was mostly spent visiting relatives. When they heard about my impending market entry, all of them brought up stories of not-so-successful marriages of people they knew well, and put fundaes to me about avoiding certain pitfalls. These fundaes were liberally peppered with stories. Mostly sad ones. Mostly of people who have chosen to continue in their marriages despite them clearly failing. It is amazing about the kind of stuff people I know have gone through, and yet they choose to not run away.

Saturday morning was rexerved for my first ever “market visit”. I was taken to this bureau in Malleswaram and asked to inspect profiles. “There are profiles of hundreds of girls there”, my uncle had told me “so let us go there before ten o’clock so that you have enough time”. The profiles were mostly homogeneous. The number of engineering seats available in Karnataka amazes me. Every single profile I checked out over there had studied a BE, and was working in some IT company. Things were so homogeneous that (I hate to admit this) the only differentiator was looks. Unfortunately I ended up shortlisting none of them.

One of the guys I met during my Bangalore trip is a sales guy who lives in a small temple town without any access to good cinema. So he forced me to accompany him to watch Slumdog (in PVR Gold Class – such an irony) and Dev D. I agree that Slumdog shows India in poor light, but filter that out and it’s a really nice movie. We need to keep in mind that it was a story and not a documentary, and even if it were the latter, I think documentaries are allowed to have narratives and need not be objective. Dev D was simply mindblowing, apart from the end which is a little bit messed up. Somehow I thought that Kashyap wanted to do a little dedic to his unreleased Paanch.

There is this meet-up at Benjarong which is likely to contribute enough material to last six arranged scissors posts. I’ll probably elaborate about the discussions in forthcoming posts but I must mention here that several arranged marriage frameworks were discussed during the dinner. The discussions and frameworks were enough to make both Monkee and I, who are in the market process, and Kodhi who will enter the market shortly to completely give up in life.

One takeaway from Paddy’s reception is that if you can help it, try not to have a “split wedding” (and try not to have a split webbing also) – where different events are held at diferent venues, on disjoint dates. In that case you won’t have people lingering around, and you will lose out on the opportunity to interact with people. Note that there is zero scope for interation during the ceremonies, and the only time you get to talk to people is before, and after, and during. And it is important that there is enough before or after or during time to allow these interactions. In split weddings guests are likely to arrive and leave in the middle of an event and so you’ll hardly get to talk to them.

One policy decision I took was to not have breakfast at home during the length of my stay. I broke this on my last day there since I wouldn’t be having any other meal at home that day, but before that visited Adigas (ashoka pillar), SN (JP nagar) and UD (3rd block). The middle one was fantastic, the first reasonably good except for bad chutney and the last not good at all. Going back from Gurgaon it was amazing that I could have a full breakfast (2 idlis-vada-masala dosa-coffee) for less than 50 bucks. Delhi sorely lacks those kind of “middle class” places – you either eat on the roadside or in fine dining here.

Regular service on this blog should resume soon. My mom has stayed back in Bangalore for the summer so I’m alone here  and so have additoinal responsibilities such as cooking and cleaning. However, I think I should be having more time so might be writing more. I can’t promise anything since blog posts are generated by spur-of-the-moment thoughts and I never know when they occur. Speaking of which I should mention that I put elaborate fundaes on studs and fighters theory in my self-appraisal review form last week.

Arranged Scissors 5 – Finding the Right Exchange

If you look at my IIMB grade card, one subject stands out. It is one of the two Cs that I have on the card, and the other was in a “dead rubber” (5th/6th term where grades didn’t matter for placements). This C was in introductory marketing management. Where the major compoenent was a group project called the application exercise (ap-ex). I frequently crib that I did badly in that project because four out of six people in my group did no work, or even negative work (and this is true). Digging deeper, however, I think the more fundamental issue was that the two of us who worked didn’t really know what we were doing. We failed to understand the concept of STP till a few years after the project was over.

STP is one of the most fundamental concepts in marketing. It stands for Segmentation, Targeting and Positioning. I quickly appreciated Positioning, but took a long time in trying to figure out the difference between segmentation and targeting. In my defence, they are highly inter-related concepts, and unless you look at it from the point of view of social sciences (where each unique point fetches you one mark in the board exam) it is not intuitive that they are separate concepts.

So you segment the “population” based on various axes. Taking these axes in conjunction, you end up “segmenting” the population into a large number of hypercubes. Then you do the “targeting”. Find the set of hypercubes that you want to sell your product to (in the context this post is about, sell yourself to). And so once you have found your “target segment” or set of “target segments” you “position yourself” and go out to sell. And then you need to figure out the “4 Ps” of marketing. Product (fixed here – it’s you). Price (irrelevant if you don’t plan to take dowry). Forgot one P. The other is Place (where you will sell).

The arranged marriage market can be broadly be divided into two – OTC and exchanges. OTC (over the counter) is the case where you have a mutual acquaintance setting you up with a counterparty. The only difference here between arranged and normal scissors is that in the arranged case, it is your parents who are set up with the counterparty’s parents rather you getting set up directly. Since it is a mutual acquaintance doing the setting up, the counterparty is at max two degrees away, and this makes the due diligence process a lot easier. Also, you have one interested third party who will keep nudging you and pushing hte process back and forth and generally catalyzing it. So people in general prefer it. Historically, there were no formal exchanges (apart from say a few “well known village elders”). Most transactions were OTC.

One problem in financial OTC markets is counterparty risk (which is what has prompted the US government to prop up AIG) but this is not a unique problem with OTC arranged marriage market – counterparty risk will always be there irrespective of the method in which the relationship was formed. Apart from providing counterparty protection, one important role that financial exchanges play is to improve liquidity in the market. The number of transactions that happen in the exchange ensure that the market is efficient and prices are fair. Liquidity is an important asset in the arranged marriage exchanges also.

The problem that I’m trying to describe in this post is about segmenting the exchanges based on their most popular commodity types. I don’t have reall live examples of this, but then for each product you will want to go to a different exchange. For example (this example may not be factually correct) both the Chicago Board of Trade (CBoT) and Chicago Mercantile Exchange (CME) trade in both corn futures and cattle futures. However, the volume of corn futures that are traded on CBoT is significantly larger than the volume of corn futures traded on the CME. And the volume of cattle futures traded on the CME might be siginicantly larger than the corresponding volume in CBoT.

So if you want to buy cattle futures, you are better off going to the CME rather than the CBoT since the former has significantly greater liquidity in this product, and thus you are assured of getting a “fairer” price. Similarly, to buy corn you should rather go to CBoT than CME. I suppose you get the drift. Now, the same is true with the arranged marriage market also. If you want to get listed on an exchange, you will need to make sure that you get listed on the right exchange – the exchange where you are most likely to find people belonging to your target segment.

To take an example, if you think you want a Tamil-speaking spouse, you are significantly better off listing on tamilmatrimony.com rather than listing on telugumatrimony.com, right? Of course this is just a simplistic example which I have presented because the segmentation and difference in markets is clear. Things in the real world are not so easy.

There are various kinds of marriage exchanges around. In fact, this has been a flourishing profession for a large number of years, and even the recent boom in louvvu marriages has done nothing to stem the flow of this market. You will have every swamiji in every mutt who will want to perform social service by opening a marriage exchange. Then, you have a few offline for-profit exchanges. Some of them work on a per-deal basis. Others charge you for listing, since it is tough for them to track the relationships that they’ve managed to create. Then, this is one business which has clearly survived the dotcom bust of 2001-02. The fact that this business is flourishing can be seen on the left sidebar of this page where I suppose a large number of them will be advertising. In fact, I encourage you to click through them since that will result in precious adsense revenue for me.

There is nothing wrong in carpet bombing, but that comes at a price. Notwithstanding the listing fees (which are usually nominal), you will have to deal with a significantly large number of “obviously misfit” CVs and bump them off. Especially if you live far away from the exchanges and have someone else broking for you, you don’t want to burden them too much, right? So the problem is in doing your segmentation and targeting. And then researching the exchanges to find which exchange has most liquidity for products belonging to both your segment as well as your target segment. And get listed on them ratehr than wasting precious time, energy and money listing on exchanges that are unlikely to be useful.

Since I began this (extremely long) post with marketing fundaes, I should complete it with some more (which is irrelevant to the rest of this post). A standard process for advertising is AIDA (Awareness-Interest-Desire-Action). Typically for a relationship to “happen”, you need a minimum of D from at least one of the parties, and a minimum of I from the other party. The normal arranged marriage process, however, assumes that an I-I is a sufficient condition for a sufficient lifelong relationship, and don’t give enough time and space for people to check if D is there. Hence the disasters. Hence the tilt towards the CMPs.

Arranged Scissors 1 – The Common Minimum Programme

Arranged Scissors 2

Arranged Scissors 3 – Due Diligence

Arranged Scissors 4 – Dear Cesare

How do i describe my job?

One of the “problems” with my job, if I can describe this as one, is that it’s tough to explain my job to a layman. There are multiple levels of disconnects here, and multiple “pitfalls”, if I can call them that. So when someone asks me about my work, it gets tough indeed to describe to any degree of accuracy while at the same time being concise, and at the same time talking in Kannada.

I am a quant at a hedge fund.

My work involves coming up with trading strategies, and then developing them to a level where I can have the ultimate fighter – a computer – to trade using these strategies. Then, I will need to figure out how the computer is going to implement these strategies and this part involves some heavy engineering work. And finally I code. Ok now I haven’t been accurately able to describe in one paragraph, writing in English, about my job. How do you expect me to describe it to the layman speaking in Kannada?

Coding is a part of my job, but I’m not a coder.

I deal with financial products – equities and equity derivatives. But I’m strictly not a finance guy – as far as I’m concerned, each security is just a time series. A time series on which I can trade and make money. In fact, apart from my short stint selling interest rates swaps in London, I haven’t really done any finance. My entire view of the markets is based on my idea that a security is just a tradeable time series. I think I should do a separate post on that. Anyways, I’m not strictly a finance guy also.

One of my degrees is an MBA. A PGDM to be precise, from IIMB. But I’m not a manager also. I don’t manage people apart from myself.  I’m not sure I’ll find that interesting either – I sometimes think managing is too fighter a job for me.

And so on.

And then, I work for a hedge fund. Most people don’e have a clue what a hedge fund is. I sometimes make an approximation and tell them I work for a mutual fund. And immediately I get bombarded with questions like my opinion on whether the markets will go up or down, and about how long the recession is going to last. And then there are those who start telling their sob stories about their investments in the markets when the Sensex was at 20,000 and about how markets can’t be trusted any more.

Another level of contradiction is that I’m based in Gurgaon. All finance companies are supposed to be in Bombay, right? Surely, given that I’m in Gurgaon, I must be doing some back office kind of work?

Last night my uncle was filling up some arranged marriage exchange registration form for me. And he asked me to describe my job in a short phrase. I immediately came up with “trader” and that got quickly shot down since that would give the image of a lala sitting behind huge weighing scales. Next I tried “financial trader” and “quantitative trader”. No go.

Then I wanted the simple “quant”. My highly stud uncle himself had trouble exactly figuring that out, so fat chance anyone would appreciate that. So out again. I relaxed constraints a bit and said “hedge fund professional”. But most people wouldn’t understand “hedge fund”. “mutual fund” was no go for a written form. “quantitative analyst” was considered too country by my uncle. He then asked me my designation. “Associate” doesn’t mean anything, he said and shot that down too.

Sometimes I wonder if I’ve unnecessarily complicated life for myself by choosing the path that I’ve chosen. If I were working for some software company I could’ve just written “software” over there and all would’ve been fine. The whole world would’ve understood, or at least claimed to have understood. Or even better, if I were living abroad, I wouldn’t have even been required to say that much. I’d’ve been just qualified as a “foreign huduga”, with most people not even caring for which city I was in.

For the record, my listing application records my profession as “financial services professional”, as country as it sounds. This was the only middle ground where my uncle and I didn’t disagree. And in it went. It increasingly looks like I’ll have to put fundaes to Cesares about why the stock markets have gone down in the last one year in order for them to allow their daughters to marry me. I have half a mind to start describing Ito’s lemma the next time someone asks me where the markets are headed. I’ll probably start off describing to them a random walk. And say that it’s a drunkard’s walk. And perhaps use that to change the topic. I think I might need to start practicing this. In Kannada.

I’m a quant at a hedge fund.

Search Phrases – February 2009

I don’t plan to make this a monthly feature, but will write this whenever I find enough funny search phrases to make a post on  them worth it. Googlers and google seem to have had a field day this month,

The top search phrase that has led to my blog is of course “noenthuda“. In second place is the fairly boring “blog.noenthuda.com” .  Third place is extremely interesting – top reasons marriage engagements break in pakistan. And I’ve got over 50 people who have searched for this phrase in the last month and then landed up at my blog! Now it makes me wonder what the top reasons are for marriage engagements breaking in pakistan.

Here are a few other gems from the month gone by.

  • gay in iimb (17 hits)
  • 3-letter word for pertinent
  • aunties in chickballapur (chickballapur is my father’s native place, for the record; it is famous for its extremely spicy chillies)
  • best english speaking course in north india
  • can we put the shoes and chappals near the entrance of the house
  • cricketers animal names
  • funny message for my cousin who wants to move back to bangalore
  • i am working in singapore what do i need to do to buy a car in delhi
  • i don’t know how to speak english but i know hindi can i work in delhi
  • iimb course to be on your own
  • job interview edition on savitabhabhi.com
  • karwar muslims
  • matha amritha, things she does
  • number of north indians settled in south india
  • societal influence on a bastard child
  • the true story of a man who learnt fluent spoken english
  • which indian breakfast item can be made with bread?

Ok that has been a very long list indeed. Much longer than I intended it to be. But it only reflects the brilliance of googlers and google in the last one month.

Arranged Scissors 3 – Due Diligence

One of the most important parts of the arranged marriage process is due diligence. This is done at various levels.  First there is the parental due diligence – and the first thing that is done is to check if the counterparty’s parents and other close relatives are financially sound. Then there is a check run on the counterparty’s siblings and cousins – to make sure that moral fibre is of the highest quality. And last but not the least, there is personal DD, which is the most interesting.

Of particular interest is the counterparty’s past affairs. This wasn’t much in the limelight till about 10 years back when there was a case where a girl got her arranged fiance murdered since she wanted to marry her boyfriend. After that, people who had so far been in denial regarding people’s boyfriends and girlfriends woke up to the fact that they needed to check if the other party was single as claimed. Nowadays, people go great lengths in order to check this.

Last month I received a call from my friend who told me that one of his friends was “in the market” and was in the process of checking out an acquaintance of mine. So this friend asked me to do a background check on this acquaintance. And I called up one friend who called up another friend who confirmed that this girl was indeed very “decent” (at least that was the message I got- considering that there were two channels of communication before me, I don’t know what the actual message was) and I propagaed it (I promise I didn’t distort it).

Then, there is this uncle who is well-connected. Ok I’m digressing a bit – this is not about arranged marriage, but since we are on the topic of due diligence, this example deserves merit. So this uncle who is well connected wanted to do a background check on his daughter’s boyfriend. Not knowing any other common link, he did what he knew well – pulled strings. The boy used to work for a fairly large IT company and my uncle managed to get in touch with the boy’s HR director and got confidential character files pulled out in order to confirm that his daughter had indeed chosen a decent guy.

One other reason why due diligence may have in fact become easier is because now people post considerable amount of information online. A combination of orkut, facebook, linked-in, blog and twitter profiles is enough to determine enough about a person’s character, I think. And most people (at least in the market segment that I’m in) will have at least one of these. So all you need to do is to find someone who has access to this person’s orkut/facebook profiles and you are through. In fact, I’m planning to add my facebook, twitter, blog and linkedin links to my email signature when I write “expression of interest”/”expression of contact” mails (more about those mails in another post), thus saving the counterparty valuable time and money she might have otherwise spent on due diligence.

The problem with such widespread due diligence is that you need to keep people who you don’t like in your good books. Becauase due diligence works on a “no second chance” principle. Most people collect data from a number of sources. And if at least one of those sources says “indecent” then jai only. Death only are there for inherently unpopular people like me (i’ve recently discovered that I’m a hard person to like; and it takes people considerable effort to start liking me). The fact that I’ve one time or the other ended up pissing off at least half my extended family makes me wonder if I should exit this market and go back to the old-fashioned way of trying to find someone for myself by myself. That much said, I think I’ve applied enough maska on extended family members who I think are well-connected.

I think if this whole due diligence process gets documented well, then it could make for some interesting social network analysis. How does someone try to find someone who might know you? What is the average number of steps that one needs to follow in order to find someone who knows this counterparty? What kind of people are likely to be more involved in writing due diligence reports – people who are very well connected or the quiet types? Does an increased online presence have any effect on the amount of due diligence that various counterparties do?

I don’t know how one can find good data for this.


Arranged Scissors 1 – The Common Minimum Programme

Arranged Scissors 2

Arranged Scissors 2

One of the greatest sins in the normal relationship process is tw0-timing. If your statistically significant other figures out that there is yet another other who might also be statistically significant, she is not going to take things lying down. The most likely scenario will be that the yet another other will indeed become statistically siginficant – since the original SSO puts ditch. It might be a stretch but I’ll anyway say that tw0-timing is probably the worst mistake you can commit in the course of a relationship.

The arranged marriage market puts no such constraints. Even if you are ten-timing, people won’t mind. Especially if you are an NRI. The typical NRI process goes like this. Boy lands and is given a “shortlist” – a sheaf of CVs and photos. During the drive home, the shortlist is made shorter. The next day, “interviews” are arranged with each girl in the shorter list, typically at her house. End of the day, after sampling data from various sources, boy picks the one that he thinks will be likely to be most statistically significant in the long term.He takes her out for lunch the next day, puts a ring on her finger the following day and flies off, promising to return in a few months for the wedding. Occasionally, he claims he can’t get leave from his employers for another year and so puts off thaaLi also before he returns to vilayat. Girl can follow him later. For now she’ll follow him on Twitter (sorry, bad PJ).

Local boys don’t have it that lucky. At least, it is unlikely that they ten-time. There are two quirks of the arranged marriage market which pull in opposite directions when it comes to two-timing. On one hand is discretion. You don’t announce that you are “seeing someone” until it’s all fixed and proposal has been made and accepted. Discretion also means that you don’t want to be caught together in public. It also means that you can’t write funny things on each other’s facebook walls. And it obviously rules out PDA – in fact, all forms of DA are strongly discouraged until the contract has been signed. Heck, my cousin was putting DA during her engagement and that led to much gossip and condemnation. So no DA till marriage.

So yeah – one of the “advantages” of this discretion is that it allows you to two-time. What tugs from the other side is the time to decision. Due diligence in the whole process is outsourced, to the bankers. Typically it is finished even before the parties concerned get a chance to  explore each other – and in this, this process differs from the typical M&A process. So now that the due diligence has already been done, bankers prefer that the parties reach a decision quickly.

I don’t know how this happened, but the time to decision is fairly short. In olden days, I’m told that the due diligence was the beginning and end of the deal process. All that the parties had to do was sign. Things slowly improved – to showing photos, to being shown glimpses, to being allowed to talk for two minutes. I don’t know where things stand in terms of the general market, but I’ve been trying to insist on a proper blading process to allow enough time for tiki-taka.

Ok here is the grand unification for this post. The time to decision is a function of discretion and ability to two-time. Given the discretion that has normally been practised (i suppose this came about because societies were tightly knit and small and things would become awkward for all parties involved if each expression of interest were made public), the cost of two-timing became quite low. Thus, in order to make sure that the counterparty is not two-timing their kid, parents started demanding that decisions be made early. This cut both ways – the counterparty’s parents also wanted to make sure their kid wasn’t being two-timed. From the point of view of bankers, the short time-to-deal was an absolute win.

From the point of views of the interested parties, all it did was to increase the incentive for Common Minimum Programmes. Time allotted is generally too short to properly check out the counterparty, and you need to prioritise. You want to check for obvious mistakes. In the short time, you want to make sure that the counterparty is not an obvious misfit. Realizing that you will never have that time to figure out propely if a prospective counterparty has those “spikes”, you settle for someone who “clears the basic cutoffs”.

You thus get yourself a common minimum programme spouse.

Earlier in the series:

Arranged Scissors 1 – The Common Minimum Programme

Arranged Scissors 1 – The Common Minimum Programme

Now that I’m in the arranged marriage market, I’ll probably do a series on that. I think there has been this book that some female has written about it, but I haven’t read it. I periodically plan to write about this market, and its quirks, comparing it to the “normal louvvu market”. I’ll try my best to keep the identities of those I’m interacting with in the market secret – if not for anything else, because there is a good chance that they might be reading this.

A lot of people shudder at the thought of arranged mariage. They think it’s some kind of a failure. They say that it is a compromise. Some of them enter the market only grudgingly. If not anything else, presence in the arranged marriage market is an admission of failure to find a long-term partner without bankers’ support. Some people tend to take that personally. They think that they are failures in life because they had to request their parents to find them a partner in life.

Two years back, my good friend L Balaji (no, not the cricketer) came up with the hypothesis of a “common minimum programme job”, borrowing the phrase that our politicians are most likely to use when they form a coalition government, which is getting increasingly common nowadays. He defines a CMP job as one which “clears all cutoffs, but doesn’t perform spectacularly according to any criterion”. A CMP job offers you decent pay, keeps you in a decent city, gives you a good work-life balance, decent colleagues, etc. But you cannot really expect to get too much kick out of the job. You may not love the job, but it offers you enough to not get pained.

I think the traditional problem with the arranged marriage market is that people assume that people are in the market to find CMP spouses. Someone who looks “decent enough”, is “smart enough”, is “nice enough”, etc. Traditionally it seems like the evaluation in the arranged marriage market is a series of tickoffs – looks good? check. Can talk grammatical English? Check. I good to talk to? Check. And so forth. So what one ends up with is someone who clears all criteria, and not necessarily someone spectacular. You basicallly try to find someone you can share a house with until you are sixty four, and little else. Even that one major cutoff, I think, sometimes is given short shrift.

This boiling down of the market to CMPNess is responsible for the “compromise” label that the arranged marriage market attracts. And amazingly, a lot of people (who are lucky enough to have found someone better than CMP in the market) start talking about how one needs “to adjust”, “to compromise” etc. Definitely not the kind of stuff that the young person fresh into the market would love to hear. In fact, I think these CMP people are what gives arranged marriage a bad name.

Thinking about it, I think the CMP nature of the market doesn’t have much to do with the people who ended up choosing CMPs, or who ended up as CMPs (note that one can be both). It has structural origins. The problem, I think, lies with the structure of the market, and that all the CMP people have simply adapted to this particular market structure.

When you don’t like a set of rules, there are two ways to deal with it, or maybe three (depending upon whether you count like a mathematician or like a social scientist). First is to adapt yourself to the rules, basically to compromise. Then, you can allow the rules to stay in place, and you can work around them. Find loopholes and exploit them. This is what lawyers excel at. The final option is to bend the rules.

In my next post on this topic, I will talk about the structure of the arranged marriage market, and try to explain why it differs from the normal blading model.