The tragedy of Kashmiri Pandits

Col Tek Kumar Tikoo has written an article in the Indian Defence Review about how Kashmiri Muslims chased away Hindu Pandits who had been staying in Kashmir for generations.

Some of the slogans heard in Kashmir during those days send a chill down one’s spine.They are:

 

“Zalimo, O Kafiro, Kashmir harmara chod do”.

(O! Merciless, O! Kafirs leave our Kashmir)

“Kashmir mein agar rehna hai, Allah-ho-Akbar kahna hoga”

(Any one wanting to live in Kashmir will have to convert to Islam)

La Sharqia la gharbia, Islamia! Islamia!

From East to West, there will be only Islam

“Musalmano jago, Kafiro bhago”,

(O! Muslims, Arise, O! Kafirs, scoot)

“Islam hamara maqsad hai, Quran hamara dastur hai, jehad hamara Rasta hai”

(Islam is our objective, Q’uran is our constitution, Jehad is our way of our life)

“Kashmir banega Pakistan”

(Kashmir will become Pakistan)

“Kashir banawon Pakistan, Bataw varaie, Batneiw saan”

(We will turn Kashmir into Pakistan alongwith Kashmiri Pandit women, but without their men folk)

“Pakistan se kya Rishta? La Ilah-e- Illalah”

(Islam defines our relationship with Pakistan)

Dil mein rakho Allah ka khauf; Hath mein rakho Kalashnikov.

(With fear of Allah ruling your hearts, wield a Kalashnikov)

“Yahan kya chalega, Nizam-e- Mustafa”

(We want to be ruled under Shari’ah)

“People’s League ka kya paigam, Fateh, Azadi aur Islam”

(“What is the message of People’s League? Victory, Freedom and Islam.”)

Forecasting Folly:Bharti Airtel

Tadas Viskanta of Abnormal Returns was one of my inspirations for writing this blog.

What I liked about his blog was that it was “forecast free”. He didn’t make any predictions or tout any stock picks.

I wanted to create a blog on the same lines…where the reader thinks for himself/herself.

Great investors like Warren Buffett have time and again said that they can’t predict the market or forecast what individual stock prices will be.

But in the Indian scenario,we have various brokerages and pundits making predictions/forecasts like crazy.The old adage “If you want to forecast, forecast often” seems to hold true for them.Their target prices follow the stock prices resulting in considerable losses to their investors.

I thought it would be interesting (amusing ??)  to see what actually happened to these predictions made by Dalal Street’s finest.

On 5 Nov, 2011, Motilal Oswal put out a buy on Bharti Airtel with a target price of Rs.515.This implied an upside of 29% over the then prevailing price of Rs.398

A year later, Bharti Airtel’s price is languishing around Rs 304, a decline of 23%.

Forecasting folly, anyone?

Linkfest:Nov 22,2012

Some stuff I am reading today morning:

Charlie Munger on Mistakes (25IQ)

What is it to be like a partner at Goldman Sachs? (Quora)

Individuals can’t be booked for front running (Mint)

No takers for Mukesh’s RGTIL (BS)

As slyly as he arrived (MumbaiMirror)

SAC’s Cohen pulled deeper into insider trading probe (Bloomberg)

Six Myths about the stock market (MarketBeat)

Nice Try,HP (BusinessInsider)

Argentina beset by pirates, snakes (Dealbreaker)

Good luck with that (TRB)