Source:Lorcan RK
Author: Raoji
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Linkfest: March 16,2015
Some stuff I am reading today morning:
Entrepreneur to Investor: Go die, motherf***er (Mahesh Murthy)
Dividend yield analysis of Nifty (Stable Investor)
Are Pune property buyers so dumb? (Ravi)
Nomura Research Report: ITC (MyIris)
Latest stock picks of leading experts (RJ)
Best ways to manage with single income (Mint)
Tax saving tips for buying and selling property (BS)
How to pay zero tax and get tax free income for over 10 L (MyInvestmentIdeas)
The first rule of short selling (Dead Companies)
The Greece crisis intensifies (NYTimes)
“I knew a guy who had $5 million and owned his house free and clear. But he wanted to make a bit more money to support his spending, so at the peak of the internet bubble he was selling puts on internet stocks. He lost all of his money and his house and now works in a restaurant. It’s not a smart thing for the country to legalize gambling [in the stock market] and make it very accessible.”-said Charlie Munger
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Insurance Reforms: Dal Makhni Style
• 1998: Yashwant Sinha moots opening up insurance sector, creation of IRDA in NDA’s first budget.
• IRDA Bill goes to Standing Committee.
• Sinha moots 49 per cent foreign investment—26 FDI+23 FII
• 1999: Congress—post Antony Committee—forces cap of 26 per cent in IRDA Act.
• 2004: Congress comes to power.
P Chidambaram announces hiking FDI in insurance to 49 per cent.
• Left in UPA I and TMC and DMK (members of NDA that passed IRDA Act) in UPA II oppose it.
• 2005: Law Commission and IRDA back hike in foreign equity/ownership.
• 2008: Bill introduced in Rajya Sabha. 2009 Bill referred to Standing Committee of Finance.
• 2011: Standing Committee says “a greater role for foreign capital in insurance sector may not have the desired impact” and that “increased role of foreign capital may lead to the possibility of exposing the economy to vulnerabilities”. Chairman of Committee: Yashwant Sinha.
• December 2014: Congress and BJP agree to agree.
• March 2015: Jayant Sinha successfully pilots Insurance Laws Amendment Act.
• Foreign investment hiked to 49 per cent—26FDI + 23 FII—exactly as in the 1998 draft.
Think about it. It took a whole generation—from father to son—for this piece of reforms to come through.–from IE