Linkfest: Oct 22, 2012

Some stuff I am reading today morning:

FIIs bullish-hike stake in rally (BS)

Caught in the gold trap (Mint)

After 2 years, Mumbai developers step on gas (BS)

Money can’t buy you parking in Mumbai (MumbaiMirror)

Astral Poly:Management Meet (DalalStreet)

Interesting discussion on online vendors of vegetables(Rodinhoods)

Why traders have been selling the Japanese Yen (SoberLook)

The hedgie’s life goes cold for Coffey (FTAlphaville)

Is it evil to be rich? (DailyReckoning)

Could Google actually disappear in five years? (Climateer)

Tirupati Balaji Comes to Mumbai

I had the good fortune to witness the the Kalyana Utsavam (marriage ceremony) of Tirumala Tirupati Sri Balaji with his consorts (Goddess Sridevi and Bhudevi) at Shanmukhananda Hall, King’s Circle.

The celestial wedding is performed daily in the Tirupati temple and devotees throng to be a part of the celebration.Usually, devotees are waitlisted for years when the ceremony is performed at Tirupati.It is for the first time in Mumbai that the idols were brought from Tirupati and the ceremony was performed here.

One of the singers at the function sang Adi Shankaracharya’s Bhaja Govindam.I simply marvel at the genius of this bhajan immortalized by the voice of M S Subbulakshmi



Sensex Vs Nifty-The generation gap

There was an interesting discussion at Atma about which index better represents the Indian market-the Nifty or the Sensex.

I find that the answer often depends on the age of the person. For old timers (above 40), the answer is the Sensex.They have spent the better part of their trading lives talking,dreaming and thinking about the Sensex.

For the young ‘uns, it is the Nifty.They trade F&O on the Nifty and can tell you its movement tick by tick.They will be hard pressed to even know what the Sensex levels are.

So when somebody asks you where the market is, the index you quote tells something about you as much as it does about the market !