"Independent directors, some of us atleast, have been equated to doormen. Better than being doormats ofcourse."
M Damodaran on independent directors and the practice of appointing retired bureaucrats on boards ostensibly to "open doors in Delhi".
— menaka doshi (@menakadoshi) November 29, 2018
Some stuff I am reading today morning:
Banks may invoke Dhoots’ personal guarantees (ET)
Investor worries on Kotak Bank (Mint)
Jaypee may lose Formula One Land (BS)
UTI AMC stake sale (BL)
Company Profile: Arvind (Fortune)
The Bear Market of 1969 (Irrelevant Investor)
Valuations don’t matter much in Emerging Markets (BQ)
The trade of the decade is dead (Daily Reckoning)
What Bear Markets look like ( A VC)
Liquidity is over rated (Financial Samurai)
Hat Tip: Deepak Kapur
On Nov 06,2017, in a conference call, HEG management mentioned that the capex cost to increase capacity from 80,000 tonnes to 100,000 tonnes is around 200 Crores
Around a year later, on 26 Nov, 2018, the HEG Board approved a resolution to increase the capacity from 80,000 tonnes to 100,000 tonnes at a cost of 1200 Crores !!
What to call this?
Some stuff I am reading today morning:
Back Door pledging at DHFL (MoneyLife)
Jeff Bezos may buy Kishore Biyani out (ET)
Actis buys out Essel Infra’s solar power projects (Mint)
Etihad to raise stake in Jet Airways to 49% (FE)
Amazon beats Flipkart (BS)
The disaster at Aditya Birla Real Estate Fund (Forbes)
2018: Noone made money (TRB)
Howard Marks on Losses (AM)
Selfish Writing (Morgan Housel)
Why you would not have invested with Warren Buffett (BVI)
