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A new high is a bullish event
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Linkfest:July 25,2014
Some stuff I am reading today morning:
Cabinet approves 49% FDI in Insurance (Mint)
Its a global bull party (BL)
Brokers use HNI demat accounts to invest in bonds,NCDs (ET)
Will investors show up for SAIL? (WSJ)
If there was no TCS,there maybe no Tata Group worth speaking about (FirstBiz)
Wall Street means fooling all the people all the time (Guardian)
“What have you done for me lately?” (TRB)
Gold Prices explained (CrossingWallStreet)
Financiers turning strawberries into securities (Dealbook)
The Gringo’s guide to the Argentine debt crisis (SeMancha)
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Its less expensive
My big losers always came after my big wins. After a big win go on a vacation, clear your head, and humble yourself. It is less expensive.
— MicroCapClub (@iancassel) July 23, 2014
A group of NRI investors have filed a case in the Supreme Court of Mauritius against ICICI Venture Funds Management Company accusing the PE firm of misleading them while raising a real estate fund that eventually underperformed while they had been promised a certain return.
Around 69 investors, mostly from the United Arab Emirates and Gulf Cooperation Council (GCC) countries, had invested around $34.7 million in the $220-million Dynamic India Fund (DIF) III since 2005, after being allegedly promised a return of 25%. Instead their investments are now under water.The investors claim that the fund manager did not keep them informed about the subsequent performance of the fund or about the quality of assets in which the fund had invested. Further, the aggrieved investors allege there was huge delay in completion of projects about which they were also kept in the dark.
When the fund’s tenure came to an end, they were told that their investments were valued below par.
At that stage ICICI Ventures asked them to remain invested for another three years. Instead these investors have approached the Mauritius legal forum claiming $69 million in damages.-from ET