Investing is not a game against nature, but against other investors. Both buyers and sellers are acting on the same information but doing opposite things. Who is right? The recent earnings and dividends reported is history and the seller already enjoyed the benefits. As a buyer you are buying an unknown future. Investing is a game of probabilities and possibilities but not certainties. A rational investor should understand this. If not he is a damn fool.-from SeekingWisdom
Disclosure:I am market making in the shares of RBL Bank
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(Disclosure:I am market making in the shares of BSE)
Markets regulator Securities and Exchange Board and the fair trade watchdog Competition Commission (CCI) have approved the merger of United Stock Exchange of India with the BSE, making it the first merger of two exchanges in the country, the premier bourse said today.
For the merger to go ahead, however, the exchanges will have to secure the approval from the Bombay High Court as well, where the proposal is pending.
The move will boost BSE’s own currency trading business, which has seen massive spike in recent months following the introduction of faster technologies following which the oldest bourse in Asia massively narrowed the market share gap on the currency front with the NSE.
According to sources, the deal is likely to be structured through a share swap, which is likely to be 1:385, which means USE shareholders will get one BSE stock for 385 of their stock. The deal will be effective April 1. Though BSE has not said anything about the deal details.
The BSE board has valued USE at around Rs 150 crore and itself at about Rs 4,000 crore, the exchange spokesman had told PTI in May, adding the merger of USE would lead to equity dilution of around 3 per cent of BSE.-from ET
(Disclosure:I am market making in the shares of RBL Bank)
India’s RBL Bank has hired four banks to manage a planned $250 million share sale in the first initial public offering in nine years by a private sector lender in the South Asian country, said people with knowledge of the matter.
Kotak Mahindra Capital Co., Standard Chartered Plc, Citigroup Inc. and Morgan Stanley (MS) will work on the IPO due next year, the people said, asking not to be identified before a public announcement. The Kolhapur, Maharashtra-based lender counts London-based CDC Group Plc, International Finance Corp. and Norwest Venture Partners, which is financed almost entirely by Wells Fargo & Co., among its investors.
Proceeds from the sale may help the bank open more branches and allow Chief Executive Officer Vishwavir Ahuja to increase loans at a faster pace. The 71-year-old lender with assets of more than 180 billion rupees ($3 billion) and 175 branches as of March 31 is seeking to expand in the country where only 35 percent of the adult population has a bank account.-from Bloomberg
Making students memorize the periodic table but teaching them almost nothing about basic finance is bad enough. But even at the college level, how finance and investing is taught is disconnected from how it actually works. Finance is taught overwhelmingly as a math-based field, in which students learn how to calculate beta by hand and dissect a balance sheet in their sleep. In the real world, finance is overwhelmingly a psychology-based field, where the best investors are those who control their emotions. This is rarely taught and never emphasized. And it’s why some of the world’s best investors have no formal finance training. Other fields, such as medicine and engineering, have done a much better job preparing students for the real world.-from Fool