Parag Parikh dies in car crash

An investor from India who attended Berkshire Hathaway’s annual meeting Saturday has died in a two-vehicle crash, and three other people were hospitalized with injuries.

The Omaha World-Herald reports ( ) the crash happened before 7 a.m. Sunday in midtown Omaha. A 2014 Volkswagen Jetta was struck by a 2011 Chevrolet pickup.

Omaha Police said 60-year-old Parag Parikh of Mumbai, India, died at the Nebraska Medical Center. His wife, 59-year-old Geeta Parikh was in critical condition with head and chest injuries.

Two others in the Volkswagen — 42-year-old Rajeev Thakkar of Mumbai and 29-year-old Raunak Onkar of Maharastra, India — sustained non-life threatening injuries.

The truck’s 63-year-old driver was treated for a shoulder injury at a different hospital and released.

 Police Sgt. Chuck Casey said Thakkar was driving the Volkswagen at the time of the crash. He paused at a stop sign before pulling forward into the path of the pickup truck.

Police say Thakkar might face charges related to the crash.

Shailesh Shah says Parag Parikh was a stockbroker and his brother-in-law. Shah told the World-Herald that all four were in Omaha to attend Berkshire’s shareholder meeting.

“Parag was a very nice gentleman, very successful,” Shah said. “It still has not sunk into me about the death of my brother-in-law. It is very sad.”

Shah said all four of the people in the Volkswagen were on their way to the airport at the time of the crash. Thakkar and Onkar both worked for Parikh’s investment firm.-from Yahoo

Atleast 6 months before BSE can list

(Disclosure:I am market making in the shares of BSE)

A merger between the Securities and Exchange Board of India (Sebi) and the Forward Markets Commission (FMC) could delay initial public offerings (IPOs) by India’s stock exchanges. The merger is likely to alter the definition of the term ‘securities’ and this will have to be addressed before Sebi allows stock exchanges, including the BSE, to list.

Sebi Chairman U K Sinha on Tuesday said the integration had led to issues that had to be resolved before exchanges were allowed to list. “One (issue) is how will the exchange space shape up with the commodity market coming to Sebi. Those (commodity) exchanges will technically become securities market exchanges. So, there are issues around that,” Sinha said on the sidelines of an event organised by the Indian Merchants’ Chamber.

“Since commodity futures will be defined as securities, these (commodity exchanges) could technically demand and be eligible for trading in (equity) futures,” he added.

Sinha said Sebi was working towards resolving these issues and it would take another six months to enable exchanges to list.

He said the regulatory functions of exchanges had to be separated, before these entities were allowed to go public. “Today, exchanges in India are performing regulatory functions. These include regulation of brokers and listed entities… We are trying to evaluate whether we are comfortable with the current arrangement,” he said.

The BSE has, in the past, made public its plans to list. It had also appointed investment bankers to manage its IPO.-from BS

The Stock Market is not a place to “get rich”

“If you’re like most people you are maximizing your primary source of income (your real investment) and allocating your savings in a prudent manner that allows you to plan for the future.  The goal with your savings isn’t actually return maximization, but return maximization within the parameters of appropriate risk taking. If you’re a real saver who is looking for stability then this means your primary portfolio goal isn’t just protecting against purchasing power loss, but also the risk of permanent loss. And this means accepting the reality that it’s probably imprudent to excessively overweight your portfolio in favor of purchasing power protection.

Unfortunately, most people view the stock market as a place where they will “get rich” and generate Warren Buffet style returns. They tend not to view it as a place to allocate their savings. And this leads to many behavioral biases which lead people to take more risk than they’re actually comfortable with. If you’re a real saver then stop running with the herd into crowded trades in pursuit of a goal that isn’t in-line with your portfolio’s actual goals”.-wrote Cullen Roche

FIIs may have Chinese instead of Tandoor

Most foreigners are very overweight on India, an investment stance that worked in 2014. However in 2015, India has begun to underperform, while China has been on a roll. With most investors underweight on the country, China’s surge is hurting money managers’ performance.

India is no longer the only game in town. In China, one can deploy large pools of capital, the government seems to be writing a put on the market, valuations are not yet over the top and momentum is very strong. It is only a matter of time before money moves, and the India overweight reduces among global emerging market as well as regional managers. The pain associated with remaining short on China is just too much.wrote Akash Prakash,Amansa Capital