Speaking on television this morning, UK Prime Minister Cameron said he had scrapped the two-hour target for schools to spend on sports because some youngsters ended up spending two hours performing Indian dance instead of playing sport.
He said: “The trouble we have had with targets up to now, which was two hours a week, is that a lot of schools were meeting that by doing things like Indian dance or whatever, that you and I probably wouldn’t think of as sport, so there’s a danger of thinking all you need is money and a target.If that was the solution we would have solved the problem by now”.
Wishing all readers a Happy Krishna Janmashtami.
Here is today’s linkfest:
Bharti Airtel sinks to six year low (ET)
Deccan:Chronicle of a flawed diversification model (Firstpost)
Bribes:Sr SEBI staff under Govt scanner (FE)
The replacement heuristic (LeighDrogen)
Money market funds can lose money, just not your money (Dealbreaker)
This is what sector rotation looks like (Investingwithoptions)
One of David Rosenberg’s call has been working brilliantly (BusinessInsider)
When foreign brokerage houses entered India, many investors felt that finally they would get an opportunity to have world class research reports. But the experience has been a painful one.
On June 29, 2011, Nomura Securites came out with a buy call on KS Oils with a target of Rs.45.KS Oils was trading around Rs.22 then.So the price target was a whopping 100% above the then prevailing price.Subsequently, the scandal about KS Oils broke and now it is trading at around Rs. 5 per share !
Now, you have the good people of Macquarie have put an Outperform rating on DLF with a price target of Rs.250. DLF is known for its opaque accounting practices and poor corporate governance issues.Veritas in it’s detailed report has put a price value of Rs.100 on the stock.What is interesting is that Macquarie had slammed HDFC for its accounting practices, but at the same time has given a clean chit to DLF for the same.
Can DLF hit 250 in the short term?Sure, in the Indian stock markets, anything is possible.But is it the kind of stock that one expects a reputed brokerage house to recommend for “investing”?Hell, no !!
Makes one wonder, what are these analysts smoking?
I have seen very, very few people enjoy what they have. Money, fame, success, time with children, time with family – all these are precious. Just to save some money do not trouble the people around you. Your child’s 4th birthday will come only ONCE. If it is hot you need a fan or airconditioning. If it is cold you need heating. If your family likes to watch a movie, you need to go and take them along.There is no point that at 59 you say…I have accumulated a lot of money, but my family members hate me because I did not spend any TIME or any MONEY along with them. Remember if your car journey was from a Maruti 800 to a Merc, you should have enjoyed all your cars. Your M 800 would have had the experience of you as a learner, trying to drive up the gradient, learning parallel parking, etc. Your Esteem would have memories of your marriage and perhaps bringing your newborn from the hospital….THESE ARE IMPORTANT, not the car. You pay money and buy a car. You spend time and accumulate memories-blogged Subramanyam
Some stuff I am reading today morning:
Bread is humble no more (BusinessLine)
Why are FIIs pouring money into India? (FirstPost)
Chor ulta kotwal ko daate:Indiabulls want police action against Veritas (FE)
Preparing to fail (BillBonner)
A legendary stock market indicator screams buy (BusinessInsider)
Why investors should avoid hedge funds (Felix)
Need a name for your fund? (Hedgefundnamegenerator)