Gold Quotes

Two Contradictory Thoughts on Gold

Two great contradictory thoughts on gold from Satyajit Das’s article in ET

 “Gold is money. Everything else is credit.”-JPMorgan’s words to Congress in 1912


“A 15th-century gold bug who’d stored all his wealth in bullion, bequeathed it to his children and required them to do the same would be more than a little miffed when gazing down from his celestial place of rest to see the real wealth of his lineage decline by nearly 90% over the next 500 years.”-Dylan Grice of Societe Generale


Linkfest:Oct 24,2012

Some stuff I am reading today morning:

CBI raids IRB’s chief’s aide in murder probe (IndianExpress)

Saudi Arabia uses India to balance Pakistan (WSJ)

Hero Moto Corp shifts to reverse gear (Mint)

Rain Commodities’ rise from a troubled legacy (BS)

Heritage Food is flying high (Gaurav)

Return of the golden age (ET)

Apple unwraps mini iPad (Reuters)

Where did all the finance bloggers go? (TRB)

The geopolitics of computer trading (FTAlphaville)

What do we know when insiders don’t trade (Climateer)


Hero MotoCorp Q2 profits fall 27%

Yesterday, I had blogged that we have seen “peak” Hero Moto Corp.

Right on cue, today Hero Moto Corp announced its Q2 results.The results are quite disastorous with net sales slumping by 11% and net profit falling by 27%.

In the press release, this is what  Mr. Pawan Munjal Managing Director & Chief Exeoutive Officer, Hero MotoCorp Ltd. had to say :

” The two-wheeler market in the country has been adversely impacted due to the overall market slowdown and prevailing sentiments since the beginning of this quarter, Sensing the slowdown in the market, we led the way in adjusting our production plans in August and
September, and this has been reflected in our quarterly sales figures. The onset of the festive season has been encouraging, with the retail sales of over two lakhs in the Navratras.
We, at Hero MotoCorp will continue to bring new launches even as we expand our distribution reach to over 5400 outlets during this fiscal. Our global business plan will also take shape this fiscal, with the launch of Hero products in new international markets such as Nigeria, Kenya and Guatemala, having already launched in existing markets such as SriLanka and Nepal in September”


Er, Mr.Munjal what about the bull’s eye painted on your back by Honda and Bajaj?


Video:What lottery winners do with their millions

Am reminded about that old Warren Buffet joke.Once a farmer won a lottery .When asked what he will do with his 5 Million $ pay out, he replied “I guess I will continue farming till it all goes away !!”


Linkfest:Oct 23, 2012

Some stuff I am reading today morning:

Guarding Kerala’s great temple treasures (WSJ)

A big rap on the knuckles for SEBI (BS)

RBI Watch:Gauging the potential of emerging markets (RBI)

Three insurance queries to ask before buying a car (Mint)

Warren Buffett does not practice what he preaches (FirstPost)

India leaves foreign investors unamused (FT)

Bye Bye PCs (Barrons)

Is “uncertainty” really that big a deal? (FTAlphaville)

How to crash an economy and escape the scene (ClimateerInvesting)

New Asian Frontier Markets (DeutscheBankResearch)