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What was that again?
Things are looking challenging both globally and locally, but it is risky to be bearish on the market at these levels. While the index is down about 25% from its peak (in 2008) there are many frontline stocks which are quoting at five-year lows. There is so much pessimism about the (domestic) policy and macro environment that the slightest of positive development could spark a big rally-
says Lakshmikanth Reddy, Executive VP and Head-Equity, ICICI Prudential Life Insurance
Foreign Claims on India-137 Billion $ due in the next one year-BusinessLine
Thats Trillion with a T !! (More here at Bespoke)
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Linkfest:May 18, 2012
Some stuff I am reading today morning:
Indigo takes # 1 Slot (FirstPost)
No role for Govt in land acquisition (Mint)
Why Warren Buffett really likes newspapers (BusinessWeek)
Queen Elizabeth-Venture Capitalist for Marauders (Bloomberg)
About that Spainish bank downgrade (FTAlphaville)
Greek Banks Crumble (Telegraph)
How Norway’s day traders are taking on the algos (FT)