Now the government wants to do a follow on public offer in all its listed companies. This will help it garner resources (badly needed) to reduce the budget deficit. However it cannot do what the ordinary promoter does – talking up the price, rigging it up and sending it on a frenzy, splitting the shares […]
A friend introduced me to the owner of a nice gym in the suburbs of Mumbai. He has a nice ‘civil service’ background but quit all that to start his own gym. While talking to him I came to some fantastic observations which people in financial services could use: 1. Even though he pays a […]
Mark Mobius the famous fund manager (incidentally he runs the most disciplined scheme ever in India – Templeton India growth fund, the only fund in India that has been ALWAYS true to label) says the next ‘Dubai’ could be in Mumbai or Shanghai. One kid in our office excitedly rushed to me (working on the […]
Continuing my post of 23rd (yesterday) ..remember the fundamentals. How much money you make is a function of how well you manage your money. Remember what Warren Buffet said about “financial derivatives” – he called them “weapons of mass destruction”. If bankers, merchant bankers and others are being bailed out – do not laugh at […]
Wockhardt and then Emaar have withdrawn their IPOs. Withdrawn is a joke. The public did not buy them, therefore the issue is gone back. What is the learning? In a rising market nobody, really nobody has any interest in saying that the issue is overpriced and the end customer should not subscribe. A greedy promoter […]