We in India should consider ourselves lucky
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Month: October 2012
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Linkfest:Oct 26, 2012
Some stuff I am reading today morning:
Sharad Pawar owns shares in IRB group (ET)
Over 3L Crore of loans may turn NPA in 6 months (MoneyControl)
Jindal plays clips to show Zee blackmail (BS)
How Gadkari and Vadra thrive (FirstPost)
Goldman Sachs India Equity Fund NFO (OneMint)
Billions in hidden riches for family of Wen Jiaboa (NYTimes)
Taking a man at his word (Fistful of euros)
The day the Dow dropped 3116 points (JeffMatthews)
Mike Corbat has two choices for Citigroup employees (Dealbreaker)
Hilarious- The rise and fall and rise of Vijay Mallya (UnrealTimes)
The short answer is No.
Raj Ratnam said this in an interview
“In Sri Lanka I would have given the judge 50,000 rupees and he’d be sitting having dinner at my house. ”
If you look at the letters of support given to Rajat Gupta by the likes of Pramod Bhasin,Adi Godrej, Mukesh Ambani etc , it is clear that India Inc thinks Rajat did no wrong and deserves no punishment.
It is fairly scary for a retail Indian investor to know that our corporate captains and even the Indian media thinks insider trading is a victimless crime.
I think the average Indian investor feels that the Indian markets are rigged and they are better off investing their hard earned savings in FDs, gold and realty.
Do you blame them?
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DLF and Macquarie
Way back in August,I had blogged about the nonsensical research reports put out by brokerages.
One of them was a Buy Call on DLF by Macquarie with a price target of 250.Subsequently, the Robert Vadra scam has burst and the company is in the news for all the wrong reasons.
At that time, I had written
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 !!