Author: Raoji
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Linkfest: November 10,2016
Some stuff I am reading today morning:
Asian shares to join global rebound (Bloomberg)
Icahn bet more than $1 Billion on US Stocks (Bloomberg)
How Modi kept his black money master stroke a secret (ET)
Why Mumbaikars bought gold all night long (Teekhapan)
All cash deposits of more than 2.5L will be reported (Mint)
Ash Wednesday (Prashanth)
Do markets really hate uncertainty? (Market Watch)
Pricing Pressure slows Indigo’s flight (Mint)
7 Leadership Principles (Jeff Bezos)
High Conviction Shorts:Empathy for the Bull (CFA Institute)
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A Tale of 2 Chinese Stocks
Source: Bloomberg
Shares of software and heavy equipment provider Wisesoft Co. Ltd. moved more than 6 percent higher on Wednesday morning. The local name of the company sounds like “Trump Wins Big” to Chinese speakers. It’s fitting that as a man who accumulated wealth through licensing deals en route to the presidency is now helping others profit off the association with his own.
Meanwhile, at Yunnan Xiyi Industrial Co. Ltd., an auto-parts manufacturer whose name sounds like “Aunt Hillary,” shares tumbled by 10 percent.
The Reserve Bank of India has dismissed as “figments of imagination” rumours that a new series of Rs 2,000 will come with a GPS-chip that will help government track illegal money transactions.
“Such a technology does not exist at the moment in the world, then how can we introduce such a feature?” RBI spokesperson Aplana Killawala told News18.
She said that the RBI website had detailed the security features of the new note and that there was nothing else besides what has been officially said, especially any possibly of a GPS-enabled chip.
Reports of a chip-enabled series of new currency notes had surfaced immediately after Prime Minister Narendra Modi announced on Tuesday that the government was scrapping the existing denominations of Rs 500 and Rs 1000 currency notes.-from News18
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