C-da,
Your advice is very relevant.
Umesh
PS: I hope my brother is not a loser . He had invested some money in stoks and made some money sometime back as he had told me in Jan.
Chan Mahanta <[EMAIL PROTECTED]> wrote:
Chan Mahanta <[EMAIL PROTECTED]> wrote:
I don't know if he does. Have not spoken to him since 1968, even though he was a fine younger friend.But I do have one: Gambling is NOT for everyone.Speculative forces, such as FIIs that drove up Sensex, creating an illusion that the desi-economy is on a roll, is ephemeral. I remember our good friend Mayur lamenting about Kharkhowas' ignorance about making easy money on 'derivatives'. And I remember vaguely about a Sentinel editorial of recent weeks lamenting about the Oxomiya populace unaware of 'right wing ideology' or some such thing--whatever that meant, but it would seem now the ignorant ones must be having the last laugh.At 2:38 AM +0100 5/23/06, umesh sharma wrote:C-da,You have rich friends! Does he have any tips for us Desis.Umesh
Chan Mahanta <[EMAIL PROTECTED]> wrote:
You have got to stop comparing the US scene and its players with the Indian scene and its players, Umesh. They have little in common, other than on the wrapper.BTW, Warren Buffets right hand man, one of his closest confidants, is a desi, a junior wingmate of ours from IIT-KGP.At 2:07 AM +0100 5/23/06, umesh sharma wrote:
In the land of Big Bull Harshad Mehta and Con Artist Ketan Parikh it is only fools who invest in Indian stock market. People should learn from Warren Buffet (world's top finance investor and second richest man ) who only invests LONG Term in stocks -which he gets great deal of info and analysis.
Umesh
Chan Mahanta <[EMAIL PROTECTED]> wrote:
I hope none of our desi-investment promoting
friends is being hurt by this. And if they are,
hope not too badly.
Is the end of the nightmare in sight yet?
cm
On a day of crazy swings, Sensex sinks below 10K
[ Tuesday, May 23, 2006 12:34:10 amTIMES NEWS NETWORK ]
RSS Feeds| SMS NEWS to 8888 for latest updates
MUMBAI: It was a raging storm. The market turned
crazily wild, lashing the Sensex with such
ferocity that at one point it plumbed down over
1100 points. Trading had to be suspended. Or else
the ship might have sunk. When trading resumed,
the storm hadnâ¤t cleared, but the market clung
to the lifeline of assurances thrown by the
finance minister, RBI and SEBI. It clawed back
some 700 points, but still closed 450 points down.
Veterans tried, and failed to recall this kind
of volatility. In just seven sessions the market
has sucked out over Rs 6 lakh crore of
investors⤠wealth. And there are chances of
further losses. Some brave souls claimed the
worst was over, but the considered advice of
seasoned players was: "Donâ¤t try to catch a
falling knife â¤" donâ¤t try to predict the
bottom of the market. Not yet."
Finance minister P Chidambaram, obviously a
worried man, made an unscheduled press statement
when trading was suspended to assure investors
that nothing was wrong with the fundamentals of
the economy. For good measure, he added that FIIs
were net buyers on Monday. He went further to add
that he would advise retail investors to stay
invested.
Was he just trying to talk up the market? Or was
the advice worth heeding? While the questions
were tossed around, the selling pressure seemed
to ease up on the bourses and the sensex made a
recovery of sorts but not enough to heal the
wounds inflicted earlier in the day.
After all, the margin money problem was still
festering, and banks were apparently shy of
giving bail-out loans. As a result, the FM and
regulators assured investors that liquidity
(money) to meet brokers⤠obligations would not
be a problem; the banks will lend.
At the same time, government financial
institutions were said to have been prodded to
buy in order to shore up investor sentiment.
Itâ¤s learnt that UTI, LIC and SBI bought
heavily, with LIC buying mostly IT stocks. Mutual
funds, too, were net buyers of Rs 400 crore.
Still, the market sentiment was shaken.
Said Shankar Sharma of First Global â¤" once
himself in the eye of a meltdown storm: "Itâ¤s a
bull with a midlife crisis. A market whose auraof invincibility is gone and now looks just like
any other market."
After repeatedly failing to read the market
behaviour day after day in the last one week,
market players were refusing to predict
Tuesdayâ¤s market. "We will react to whatever
happens. But the mood is one of hopelessness,"
said the head of a local brokerage.
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Umesh Sharma
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College Park, MD 20740
1-202-215-4328 [Cell Phone]
Ed.M. - International Education Policy
Harvard Graduate School of Education,
Harvard University,
Class of 2005
weblog: http://jaipurschool.bihu.in/Send instant messages to your online friends http://uk.messenger.yahoo.com
Umesh Sharma
5121 Lackawanna ST
College Park, MD 20740
1-202-215-4328 [Cell Phone]
Ed.M. - International Education Policy
Harvard Graduate School of Education,
Harvard University,
Class of 2005
weblog: http://jaipurschool.bihu.in/Send instant messages to your online friends http://uk.messenger.yahoo.com
Umesh Sharma
5121 Lackawanna ST
College Park, MD 20740
1-202-215-4328 [Cell Phone]
Ed.M. - International Education Policy
Harvard Graduate School of Education,
Harvard University,
Class of 2005
weblog: http://jaipurschool.bihu.in/
Send instant messages to your online friends http://uk.messenger.yahoo.com
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