Disqus - Latest Comments for rbala99

Re: Chidambaram has screwed the next govt even before it takes over

rbala99 — Mon, 17 Feb 2014 10:32:35 -0000

The new govt (presuming we get one in the first attempt) has a hell of a task. If they truly bite the bullet, we should be seeing an economic contraction for a couple of years, global economic health notwithstanding. A permanent scar that has been put in since 1996 or so will not heal so easily. Each FM has been just tiding over . A long term strategy seems to be missing from every party.

Re: Not just onions and potatoes: Inflation of small things is biting hard

rbala99 — Mon, 17 Feb 2014 00:15:31 -0000

Another good indication should be the change in net worth of the politicians and government servants- The richer they get, the higher the inflation. Their services become more expensive. Another inflation point that escapes no aspect of day to day living.

Re: Deepak Parekh |The worst is over for the Indian economy

rbala99 — Mon, 09 Sep 2013 03:39:41 -0000

How can he advocate ITC management ? They have robbed the co from the owners and treated the co as personal fiefs. Absolute mis governance !! SHocking endorsement by a highly respected person.

Re: NSEL takes loan from promoter FTIL to repay small investors

rbala99 — Thu, 29 Aug 2013 00:59:16 -0000

Wonderful example of corporate governance. Promoter picks pockets of one company clean. Then picks pockets of another company to give 'loan' to the other, which can NEVER be repaid. The other co shareholders don't even get a thank you letter from the promoter for this robbery by the promoter. And brokers, who took investors on a guaranteed return trip, now point fingers. Who gave the funny limits to NK Proteins? It seems that sons-in-law command the nation. The Chairman / directors of the NSEL just walk out, having partaken of whatever fees and other gains they could.
And no one is interested in tracing where the money went to. It should have been less than one working day's task to find out where the money went. Now Grant Thornton will do its 'forensic' audit. Who will foot the bill?

Re: MF’s Money Mystery Is How Much It Paid Moody’s: Jonathan Weil

rbala99 — Sun, 12 Feb 2012 11:21:09 -0000

Any agency that gets a fee and is dependent on corporate benevolence cannot and will not be independent. Why are we fooling ourself with committees and legislation that is obviously tempered by Wall Street interests? Finance and capital markets are a 'bigger fool' theory and the one left holding the hot plate gets burnt. That is a natural order.

Re: Apple Now Worth More Than Microsoft, Google Combined | Business | TIME.com

rbala99 — Sun, 12 Feb 2012 09:39:50 -0000

This may probably a great time to dump the shares of Apple. With so much upsides already invented by analysts and media, all the risks to the share price is clearly, on the downside.

Re: Sucheta Dalal :SEBI slams AMFI for ignoring directive; asks it to fall in line on trail commission

rbala99 — Fri, 08 Jan 2010 00:50:54 -0000

AMFI is run by a coterie of fund houses that also have distribution business. They get hurt by this circular, so the pussy footing. Of course, the abuse that no one wants to admit is that the real issue is that pass backs have been made to clients and now if he switches distributor mid course, the old distributer gets effed. This is a good opportunity for SEBI to insist on AMFI changing its board, appointing new full time executives etc. SEBI has enough money to set up a MF regulatory / investor support body.

Re: Sucheta Dalal :Mutual fund entry load ban cripples equity schemes

rbala99 — Fri, 08 Jan 2010 00:47:04 -0000

For AMC's, this is good news. In the past, the more assets they mopped up, the more they lost because each acquisition meant going out of pocket. Now, they will not have assets, but no losses either.

Re: Sucheta Dalal :Orders that SEBI suppressed

rbala99 — Sat, 14 Nov 2009 23:20:23 -0000

I am the judge, jury and executioner.
Conflict of interest is no longer a dilemma. It is a leverage which is purposefully sought.

Re: Sucheta Dalal :Articulation Is Not Action

rbala99 — Sat, 07 Nov 2009 11:28:50 -0000

We all moan about retail investors. With a per capital below a thousand US$, how much can any one really invest? As it is people who should not be in markets are in it. Someone with less than a lakh of rupees is doing dabba trading in derivatives. As regards insurance commissions, the IRDA is not going to do anything, given that it is manned by retired government employees and with ex LIC people who have vested interests.
About 'qualified' financial advisors, where is the need? Especially, when we do not even require Fund Managers to have any qualifications.
Mera Bharat Mahaan

Re: Sucheta Dalal :Indage Vintners goes into deep-freeze

rbala99 — Sat, 07 Nov 2009 11:23:34 -0000

Restructuring is even more easy now, with CDR and Asset Reconstruction Companies. If memory serves me right, this company is going through the third round of defaults. One wonders where the money is going. The lifestyles of the promoters do not change one bit, no matter if the bloody employee cannot get his wages.

Re: Sucheta Dalal :IOL Netcom in dire straits claim employees

rbala99 — Sun, 01 Nov 2009 01:45:01 -0000

I remember this co stock as one more where fund managers were gung ho. The stock was(I do not know about now) was operator driven and this share was a frequently 'pledged' share with NBFC's. One more lesson to bewary of companies that 'show' earnings, but give no dividends or keep coming back to the capital markets again and again. Many in the mid cap IT space are similar.

Re: Sucheta Dalal :‘Parle-G brought a disciplining factor in the market’

rbala99 — Mon, 26 Oct 2009 02:47:14 -0000

I recall my meetings of yesteryears with some veterans in this company. They used to look at an MNC competitor's books and tell us that there should be a sieve at that company or so much inefficiency. Parle was sure that they even by selling below the book cost price of the MNC, they would make handsome money. This is truly a co to be admired.

Re: Sucheta Dalal :AMCs Still To Report 2008-2009 Annual Results

rbala99 — Wed, 07 Oct 2009 02:35:54 -0000

This is where SEBI should impose penalties that are severe. 30th Sept is the date on which the accounts should be on the AMFI site if the year end is March 31st. Whilst one can argue that the AMC financials are not very relevant (since the max they get is the management fees. They cannot touch the loads collected), if there is a legal provision, they bloody well comply with it.

Re: Sucheta Dalal :SBI Lobbies for Bond Guarantees

rbala99 — Sat, 03 Oct 2009 05:32:10 -0000

If the RBI allows this to happen, then go short on all banks which guarantee this. This is blatantly illegal and by passes all banking prudence. SBI has already done this for Tata Motors once (and since financial guarantees are illegal, wonder how RBI has kept quiet on this one) and now wants to do it all over again. Surely, this is the best way to ruin our banks. That is why I maintain that one should NEVER invest in a government owned entity. The chairman at a PSU bank earns less than a equity research analyst. Either the guy has to be a real dumb guy or he makes something (substantial) on the side.

Re: Sucheta Dalal :Early Warnings and Disclosures

rbala99 — Thu, 24 Sep 2009 04:48:27 -0000

You do not need any damn system. All you need is to keep tabs on the promoter and his family members. Thier lifestyle and their acquisitions will tell the story. All you need to do is to have a 10 to 20 percent reward for whistleblowers and punishment(for white collar crime) which are at least equivalent to murder. Today, it pays to be a white collar criminal, given the lax Indian laws.

Re: Sucheta Dalal :Insurance honchos admit to rampant mis-selling

rbala99 — Wed, 23 Sep 2009 00:53:10 -0000

Mis-selling is a synonym for insurance. My points are being proved by the regulators, the producers and the intermediaries..
Still, this product survives world over, because using fear as a tool to cheat people will never go out of fashion.

Re: Sucheta Dalal :“Banks are paying 8 % for deposits and are deploying them at 7%” said Dr Chakrabarty

rbala99 — Wed, 16 Sep 2009 08:00:47 -0000

http://frustrationsamalgama...
Only if you are a fan of Catch 22, can you understand Indian PSU banks.
New chairmen come, they go. The bank gets ruined in the bargain. No accountability, no responsibility. Last year or two in power, no decisions because of fear or busy collecting pension from private sector thru future consulting and board positions.

Re: Sucheta Dalal :Affordable housing announced by Godrej Properties

rbala99 — Tue, 15 Sep 2009 02:09:47 -0000

Would love to see house in the range of 10 to 25 lakh in suburbs of Mumbai (Not beyond Borivli/Mulund). ;D

Re: Sucheta Dalal :Grading Game

rbala99 — Tue, 15 Sep 2009 02:01:28 -0000

Also look at www. theipoguru.com which I think is one of the better IPO guide to investors.

Re: Sucheta Dalal :Grading Game

rbala99 — Tue, 15 Sep 2009 02:00:13 -0000

The main problem with the rating agencies is their competency. I cannot understand how Austral could have gotten anything other than the poorest.
I agree with Sucheta that we should not do away with ratings. Instead, the public should be aware that the Ratings are of no use because most investors look for listing gains. Instead, use the Ratings as a guide to future secondary market picks. In terms of pricing, you will find that better issues will fleece the investor more, because they will use rating as a marketing tool. Ideally, retail investors should avoid IPO's in today's environment and stick to secondary markets. After all, IPO investing is like pot luck and nothing more.

Re: Sucheta Dalal :P.O. Box

rbala99 — Tue, 15 Sep 2009 01:55:58 -0000

SEBI has never been known for helping out investors. The least SEBI can do is to increase the penalty for defaulters. For example, in the above, if what is true in SBI Magnum is true, then the penalty should be that the Trustee of the Fund is personally penalised a minimum amount of Rs.5 lakh or so and the CEO of the AMC is also fined a similar amount. Further, if the CEO is fined a second time or a third time, he should be barred from being in to the mutual fund industry in any capacity. That is the only way things can be enforced.
I know that CEO friends of mine will not like my suggestion, but they have to take the blame if things get screwed up.

Re: Sucheta Dalal :Money Chain

rbala99 — Fri, 28 Aug 2009 02:52:30 -0000

The RBI is an irresponsible agency as far as I am concerned. In the late 80's, we met a gentleman in power (who is now a big wig) and brought him up to speed on the accounting screens that the NBFC's were using to mask their ill health and the shady practice of borrowing money at exorbitant rates by offering upfront incentives on Fixed Deposits. The gentleman in question wanted us to "bring it to RBI's notice". I mentioned that there is a huge cloth banner outside RBI, in which an NBFC was offering a 10% incentive for a one year Fixed Deposit, in addition to the ceiling interest rate. Obviously, the gentleman could not see it at all since he sleeps in his car the moment he got in! The officials at RBI do not have any initiative and will want everything to be given in writing before they can act. They will refuse to act on what they see, unless it is explicitly mentioned that it is for their eyes and is sent to them through their 'Mail Recieving" section.