http://www.subramoney.com/personal-financial-planning-workshop/ Yesterday a friend pointed out an interview of Mr. Azim Premji in Economic Times. One quote was: “Subhiksha was unfortunate. I think it is a retail equivalent of Satyam. I think the media has completely ignored it, its a very interesting minefield for you. It is an out and out fraud, there is no […]
Year: 2009 Month: July Mr. C B Bhave abolishes mutual fund loads. This event of abolishing loads by SEBI (on the mutual fund sales) there is increasing pressure on other regulators to reduce charges / fees. So the following scenario can emerge: IRDA has decided that all life insurance products – term, unit linked insurance, […]
The trust that we all have on big organisations is dwindling if not reduced to zero. I have shares in 2 groups where I have some contacts with the promoters, top executives, mid level executives and some operational people. The reaction of each of these people to the slow down and the recovery process is […]
Why is it that in the case of Satyam and in the world wide mess it is largely the equity shareholder who is losing? Welcome to the world of moral hazard. When you lend money to a bank (which may be insolvent even as you are lending) or to a country (which technically cannot become […]
The markets – capital markets especially is a great teacher. However, the characteristics of this teacher are unique: 1. Takes the fee upfront 2. Lessons are taught the hard way, but students do not remember it long enough 3. Never negotiates fees – the dumber the student the higher the fee, and no mercy is […]
Thanks to Satyam, now independent directors are all asking for a one-to-one meeting with the statutory auditors. One satutory auditor I know, told the board, sorry “I did not check the cash on hand” – and the board insisted that petty cash (in 47 locations) should be checked immediately. This is what is called being […]
I hope you are not looking for the ‘mea culpa’ message of Raju…of Satyam…this is different! I recently met the MD of a financial services company – obviously I am not naming him/her. It also does not matter whether it is a brokerage house, mutual fund, life insurance company, bank or a distribution house. So […]