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)
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)
A great pictorial about the effects of losing fat
