After rallying over the last quarter of the year 2012 on the back of improving global risk appetite and the restart of the stalled economic reform initiatives of the government we have seen that the Indian markets have started to stagnate and underperform global markets over the last few weeks. Although the benchmark indices are […]
Read MoreRBI has finally come out with a pro growth policy after realizing its utter helplessness in controlling headline inflation driven by high food & fuel prices and most importantly after taking into account the impact of past adjustments on current inflation. Some examples of past adjustments impacting current inflation figures are – – Brent crude […]
Read MoreThe worst thing that happens to anyone i.e. fund managers, policy makers, corporates etc is when they get into the delusion that they can do no wrong. Prior success, public praise or huge valuations in the markets space for companies leads them to believe that whatever they are doing is right and they can do […]
Read MoreThe New Year has started off on a positive note both locally and globally with most markets etching up moderate gains since the beginning of the year. In the global context the two most important geographies from a sentiment point of view continue to be the Euro zone and the US. Key events in Euro […]
Read MoreGiven the kind of stance that RBI has taken over the last two years where they have totally ignored growth concerns while chasing the elusive inflation it is pertinent to try to evaluate if inflation would actually have been lower if RBI had cut rates and eased the liquidity pressures in the economy. The start […]
Read MoreMy view when the markets bottomed out in the month of March 2009 was that the structural issues that the Western economies are facing along with the huge leverage on the balance sheets of various financial institutions will imply below par economic growth combined with low commodity prices and low inflation will imply a huge […]
Read MoreI just thought that I would write a piece on what I think are the worst logics being presented so as to justify some actions. The primary one going around these days is that If low rates could lead to economic recovery then the Western world would be booming – This logic is being used […]
Read MoreI thought that I would write something on issues on which I do have views but am not myself totally (maybe) convinced. There are so many pros and cons for contra views on the same subject that it is difficult to come to a single view. Whats the future of gold – Gold bulls abound […]
Read MoreWhat a month this was. As I wrote at the beginning of the month, there seemed to be too much pessimism going around in the markets, both domestically as well as globally. As such positive outcomes of key events always had the potential of creating a strong market upmove. Cash positions were high and derivative […]
Read More