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Author: Raoji
This post is in continuation of my Infographics Series (see here)
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Linkfest:April 10, 2013
Some stuff I am reading today morning:
Close knit circles hold sway over Asia’s largest onion market at Nashik (Mint)
Cognizant leases mega office space in Navi Mumbai (ET)
Bank FD investors may exit on falling rates (BS)
Are we in a bear market already?(Moneycontrol)
Cairn India shares gain on crude oil discovery (Bloomberg)
Thats so random (RPSeaWright)
In Silicon Valley, its good to be king (PandoDaily)
The new great rotation:From commodities to bonds (BigPicture)
Rick Rule’s favorite new thesis (DailyReckoning)
Japan’s currency war has just begun (MacroBusiness)
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Forecasting Folly:Cebbco
This post is in continuation of my forecasting series (see here)
The forecasting folly case of Cebbco was pointed out to me by reader Puneet Pattar.
Cebbco was a darling of many brokerage firms who recommended it with various price targets .An article detailing their shenanigans can be found here
But what I find interesting is that well known investor Gul Tekchandani recommended this stock on Oct 31, 2012.In an interview to ET, he was asked:
Give me a stock idea where you are putting your money to work, where you are confident of a 15%-20% appreciation in next 12 months, next 18 months?
This should be taken as a disclosure as well; I have just about bought this Commercial Body Builders which is at about Rs 90. And I am always buying and selling the top line companies, but this is a new addition to the portfolio. I expect that this company will grow at 50% per annum and will give a smart returns, and does not require any money at least for a couple of years so that should help.
We all know what happened after that.Cebbco crashed spectacularly and is quoting around 30 Rs !
Forecasting folly, anyone?
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One very angry BMW customer
Pic taken outside the BMW Showroom in Kochi (Hat tip Tinu Cherian)
