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Linkfest:March 20,2014
Some stuff I am reading today morning:
SEBI: FT unfit to be shareholder in any exchange (Mint)
Indians are smuggling gold in flower pots (Bloomberg)
Poll panel raises red flag on bank license timing (BS)
Ronnie Screwvala buys 43% in Maroosh (ET)
Should you invest in CPSE ETF? (BL)
Luck Vs Skill-What Bill Gross and Bill Miller have in common (Fortune)
Short Seller’s new favorite platform:Twitter (BuzzFeed)
Four Questions for Options Trader Greg Harmon (TRB)
10 unusual things about Google (JamesAltucher)
Why New York AG wants curbs on high frequency traders (MarketWatch)
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My bets for the banking license
One timepass activity amongst finance professionals is to guess which companies will be selected for the banking license.
There are around 25 applicants for the license (see entire list here)
My bet is on the following companies:
- IDFC (Its the cleanest one)
- JM Financial (Mukeshbhai Zindabad)
- India Infoline (Smart money going here)
- LIC Housing Finance Ltd (Hum sarkari hain)
Who do you think will get the banking license?
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How India Inc allocates capital
We found that over the past 10 years, large Indian corporates have allocated far more of their operating cash flow to acquisitions and capex than their peers in other large economies. In fact, over the past decade, BSE100 companies have actually spent more cash on acquisitions and capex than they have generated.
As a result, large Indian corporates have returned less cash to their shareholders than their peers in other large economies. This ultra-aggressive spending and reluctance to return cash to shareholders is extraordinary in a country where the cost of capital is the highest outside sub-Saharan Africa.-from ET
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