This and the fresh memory of Bear Stearns, and the remarkably resemblance of LEH to BSC's last two weeks has triggered a major sellof in LEH stock. However one particular news that may calm the markets is that the Feds latest move will enable even Investment Banks to avail of emergency funding from FED similiar to what commercial banks enjoy today. That will certainly help LEH get that crucial short-term backing. Tomorrow, would be a crucial day for LEH, when they announce their Q1 earnings. My sincere hopes are pinned on some solid positive news from LEH about their performance in Q1'08.
Monday, March 17, 2008
Please not Lehman Brothers!
The US Markets are in a bad mood, Sunday was Bear Stearns, today there are loud rumors about Lehman Brothers, no less. Apparently, DBS Bank has circulated an internal email barring its' employees from taking fresh positions with LEH as the the counter party.
This and the fresh memory of Bear Stearns, and the remarkably resemblance of LEH to BSC's last two weeks has triggered a major sellof in LEH stock. However one particular news that may calm the markets is that the Feds latest move will enable even Investment Banks to avail of emergency funding from FED similiar to what commercial banks enjoy today. That will certainly help LEH get that crucial short-term backing. Tomorrow, would be a crucial day for LEH, when they announce their Q1 earnings. My sincere hopes are pinned on some solid positive news from LEH about their performance in Q1'08.
This and the fresh memory of Bear Stearns, and the remarkably resemblance of LEH to BSC's last two weeks has triggered a major sellof in LEH stock. However one particular news that may calm the markets is that the Feds latest move will enable even Investment Banks to avail of emergency funding from FED similiar to what commercial banks enjoy today. That will certainly help LEH get that crucial short-term backing. Tomorrow, would be a crucial day for LEH, when they announce their Q1 earnings. My sincere hopes are pinned on some solid positive news from LEH about their performance in Q1'08.
Bear no more!
Bear Stearns went down far more quickly than anyone anticipated. 
Rather, we in the emerging markets are not quite able to digest such kind of swiftness in action. A company with an 85-year long history and having weathered the great depression, falls from grace within two weeks!!!
That's a developed market, no speculation - only action. J.P.Morgan got probably a sweet deal, rather ensured that the deal was sweetened for them to be interested.
Spare a thought for the 14K employees of BSC, I've experienced exactly what they must be going through right now, actually worse, when my company Cyberspace wound up without blinking an eye (all thanks to rogues siphoning off funds meant for an IT company into funding their main brokerage business).
I guess the writing was on the wall, and as my previous post on 15-March outlined, Monday did indeed proved to be a Black Monday globally.
Rather, we in the emerging markets are not quite able to digest such kind of swiftness in action. A company with an 85-year long history and having weathered the great depression, falls from grace within two weeks!!!That's a developed market, no speculation - only action. J.P.Morgan got probably a sweet deal, rather ensured that the deal was sweetened for them to be interested.
Spare a thought for the 14K employees of BSC, I've experienced exactly what they must be going through right now, actually worse, when my company Cyberspace wound up without blinking an eye (all thanks to rogues siphoning off funds meant for an IT company into funding their main brokerage business).
I guess the writing was on the wall, and as my previous post on 15-March outlined, Monday did indeed proved to be a Black Monday globally.
Sunday, March 16, 2008
Sarabjit Singh: Life under threat due to Stupid Media
There is an unprecedented explosion of "News Channels" in the country...these are faceless mouthpieces of vested interests, and have little role in Nation-building or anything as such.
The worst form of reporting these days is coming from the Times Group, especially their tabloids and the disastrous news channel Times Now. It was this channel that went haywire over the "Kashmir Singh" news-story and in their over-enthusiasm, stepped on national security. Their acts ended in shame, when they got a live confession from Kashmir Singh and aired it nationally. I can remember watching that bit of "news" on Times Now, and the first thing that came to my mind, is these idiots have all but signed Sarabjits' Death Warrant.
It was a relatively no-news, that a teenaged Kashmir Singh was kept in prison and released by Pakistan under International Human Rights Acts, after a good 30-odd years. Yes the family was thrilled, but the country? Questionable! I for one, never got the big euphoria around this whole Kashmir Singh saga. For one, that its' a drop in the ocean. The mutilation faced by Indian-POW as early as the Kargil War, is fresh in my mind, besides this, countless fishermen are not spared when they land up in Pakistani waters. The same country butchered its' own Prime Minister, and then blasted his daughter on a election campaign trail. Further, proof of this non-event was given by Kashmir Singh himself, when he opened his mouth on National media. A spy going to town confessing about his profession? And Indian Media airing it? What brains are running these channels?
Indian government should have stepped in immediately upon his release, and given him a thorough understanding of his role with the media of this country, albeit, its all too late, the pakistani establishment must be feeling thoroughly violated over these statements, and as a balm and also a lesson, is plotting to murder a priosoner of 18 years.
The Indian Government owes it to its' military, para-military & intelligence personnel to ensure Sarabjit Singh is spared, and released. Whether it takes big-bucks, or an exchange of a pakistani-militant. Please Do what it takes to bring Sarabjit Singh back, a few million should be enough, after all, the country is in dire-straits, and we are merely paying the price of release of an Indian, who's a father, a brother, and a son to a middle-class Indian Family.
All said, I just wish we had finished the agenda in 1971.
The worst form of reporting these days is coming from the Times Group, especially their tabloids and the disastrous news channel Times Now. It was this channel that went haywire over the "Kashmir Singh" news-story and in their over-enthusiasm, stepped on national security. Their acts ended in shame, when they got a live confession from Kashmir Singh and aired it nationally. I can remember watching that bit of "news" on Times Now, and the first thing that came to my mind, is these idiots have all but signed Sarabjits' Death Warrant.
It was a relatively no-news, that a teenaged Kashmir Singh was kept in prison and released by Pakistan under International Human Rights Acts, after a good 30-odd years. Yes the family was thrilled, but the country? Questionable! I for one, never got the big euphoria around this whole Kashmir Singh saga. For one, that its' a drop in the ocean. The mutilation faced by Indian-POW as early as the Kargil War, is fresh in my mind, besides this, countless fishermen are not spared when they land up in Pakistani waters. The same country butchered its' own Prime Minister, and then blasted his daughter on a election campaign trail. Further, proof of this non-event was given by Kashmir Singh himself, when he opened his mouth on National media. A spy going to town confessing about his profession? And Indian Media airing it? What brains are running these channels?
Indian government should have stepped in immediately upon his release, and given him a thorough understanding of his role with the media of this country, albeit, its all too late, the pakistani establishment must be feeling thoroughly violated over these statements, and as a balm and also a lesson, is plotting to murder a priosoner of 18 years.
The Indian Government owes it to its' military, para-military & intelligence personnel to ensure Sarabjit Singh is spared, and released. Whether it takes big-bucks, or an exchange of a pakistani-militant. Please Do what it takes to bring Sarabjit Singh back, a few million should be enough, after all, the country is in dire-straits, and we are merely paying the price of release of an Indian, who's a father, a brother, and a son to a middle-class Indian Family.
All said, I just wish we had finished the agenda in 1971.
Saturday, March 15, 2008
Bear Stearns Bailout
What a story! The blue-eyed boy is in trouble!
There's a high-possibility of 17-March-2007 being the blackest Monday on the bourses worldwide. Bear Stearns is facing a basic issue, it doesn't have money to pay back investors. The long-term outlook for BS is not so bleak, however 17-March & 27-March would be two significant days in the history of this bank.
Back home, India does seem fairly decoupled, except being pulled into the acute liquidity crunch that the world is facing. It may not be a bad time, to relook at some of our own practices. Indian Realty prices have moved more than 3X over 2003 base, which if they havent already, make Indian banks seriously revalue the impact of their housing portfolio. ICICI bank, already reported upto $250m losses in sub-prime related issues. Indian story is good, solid but the termite attack has started, more than anything the FM's "decoupling" theory is gonna be seriously tested soon.
Whatever happens, I sincerely do hope that Bear Stearns rides this uncomfortable times unscathed. Else, lets' be prepared for a worldwide-market blood bath.
There's a high-possibility of 17-March-2007 being the blackest Monday on the bourses worldwide. Bear Stearns is facing a basic issue, it doesn't have money to pay back investors. The long-term outlook for BS is not so bleak, however 17-March & 27-March would be two significant days in the history of this bank.
Back home, India does seem fairly decoupled, except being pulled into the acute liquidity crunch that the world is facing. It may not be a bad time, to relook at some of our own practices. Indian Realty prices have moved more than 3X over 2003 base, which if they havent already, make Indian banks seriously revalue the impact of their housing portfolio. ICICI bank, already reported upto $250m losses in sub-prime related issues. Indian story is good, solid but the termite attack has started, more than anything the FM's "decoupling" theory is gonna be seriously tested soon.
Whatever happens, I sincerely do hope that Bear Stearns rides this uncomfortable times unscathed. Else, lets' be prepared for a worldwide-market blood bath.
Wednesday, March 12, 2008
Nifty: Meter Down!
Nifty is Falling and no, its' not me, or my wishful thinking. Rather its' a sad realization that we are not there yet. A 25% fall doesnt quite happen in a matter to 10 business days, 
not in the developed markets , atleast not unless there is something fundamentally wrong in the economy.
Ironically the market is going down without any domestic reason. There is no doubt that with oil hitting $ 107+/barrel, inflation is gonna have a field day in India. A country, where oil prices are controlled, will be in for some really interesting political games in the offing. Its' hardly 10 months for the official elections, and anyones' guess on the number of actual days.
With this background and a weak Congress, I see NO support for the markets from here on, the Rs.1 bn cash kitty with Reliance Mutual Fund, or the collective Rs.10 bn (guess) with the Indian MFs. They are gonna let FIIs make some handsome returns.
The redemption pressure on MFs is likely to begin post-march, once the tax seasons' over, people are gonna take one hard look at the disappointing sensex, and likely to cash in / book their profits. Another looming crisis is the real-estate bubble. Where is the support for real-estate prices in a falling market. I see a crisis, if the real-estate even cracks by 15%, thats gonna make banks shiver in their pants. Its' likely that overall Home-loan portfolio in India, given its' overall rating, is no better than the sub-prime borrowers in the US. It's just that in US, atleast they are known to be sub-prime, in India, they are all within wraps.
Overall a very interesting situation is panning out, day traders are gonna have one helluva party. Enjoy your earnings season, Mr. Bear.
not in the developed markets , atleast not unless there is something fundamentally wrong in the economy.Ironically the market is going down without any domestic reason. There is no doubt that with oil hitting $ 107+/barrel, inflation is gonna have a field day in India. A country, where oil prices are controlled, will be in for some really interesting political games in the offing. Its' hardly 10 months for the official elections, and anyones' guess on the number of actual days.
With this background and a weak Congress, I see NO support for the markets from here on, the Rs.1 bn cash kitty with Reliance Mutual Fund, or the collective Rs.10 bn (guess) with the Indian MFs. They are gonna let FIIs make some handsome returns.
The redemption pressure on MFs is likely to begin post-march, once the tax seasons' over, people are gonna take one hard look at the disappointing sensex, and likely to cash in / book their profits. Another looming crisis is the real-estate bubble. Where is the support for real-estate prices in a falling market. I see a crisis, if the real-estate even cracks by 15%, thats gonna make banks shiver in their pants. Its' likely that overall Home-loan portfolio in India, given its' overall rating, is no better than the sub-prime borrowers in the US. It's just that in US, atleast they are known to be sub-prime, in India, they are all within wraps.
Overall a very interesting situation is panning out, day traders are gonna have one helluva party. Enjoy your earnings season, Mr. Bear.
Tuesday, March 11, 2008
The new face of India
Indians awoke to a rude shock on Monday Morning. Black Monday it was indeed, the Indian Hockey Team losing to Great Britain, and thus losing a berth to play at the Olympics. 
That, the Indian Hockey Federation doesnt give a damn if Indian Hockey is relegated or derecognised was made amply clear by the President, K.P.S.Gill's retort, to not expect "Quick Results".
Hell, this is a 70+ old man, who can never relate to what the real India currently is. Its' the youth that are driving the country and they are far superior a breed to manage, run and achieve results in a manner its' completely unknown to this wise old man.
To me, he represents the scum of India that really makes up for the bottom most part of Indian Society. An adminstrator so in love with his post, that he's willing to sacrifice the pride of a nation, to achieve petty goals. One only wonders, how do the grey heads of India become so morally corrupt and shameless. I cannot think of any other word than Shame to describe the manner in which the IHF has gone about their business.
I think this is the time to think afresh and make a serious attempt at reviving the old hockey days.
To start with, India should simply re-introduce field hockey the way it used to be played. On a grass surface. Make no mistakes, the techniques of grass hockey cannot be different from that of turf hockey. Its' far better to have a confident team, than to have a set of proven non-performers. Players within the national league, should be good players in both forms of the game. Theres' no point in adapting to turf hockey, it will only lead to more K.P.S.Gills and we should sincerely avoid that.
The Premier Hockey League, once its' played on grass, will not only attract poor and wealthy alike the turf will no longer be a barrier to young players from all corners of the country.
Lets' atleast make an attempt to achieve results inspite of K.P.S.Gill, just like Indian Economy is booming inspite of the Government.
That, the Indian Hockey Federation doesnt give a damn if Indian Hockey is relegated or derecognised was made amply clear by the President, K.P.S.Gill's retort, to not expect "Quick Results".Hell, this is a 70+ old man, who can never relate to what the real India currently is. Its' the youth that are driving the country and they are far superior a breed to manage, run and achieve results in a manner its' completely unknown to this wise old man.
To me, he represents the scum of India that really makes up for the bottom most part of Indian Society. An adminstrator so in love with his post, that he's willing to sacrifice the pride of a nation, to achieve petty goals. One only wonders, how do the grey heads of India become so morally corrupt and shameless. I cannot think of any other word than Shame to describe the manner in which the IHF has gone about their business.
I think this is the time to think afresh and make a serious attempt at reviving the old hockey days.
To start with, India should simply re-introduce field hockey the way it used to be played. On a grass surface. Make no mistakes, the techniques of grass hockey cannot be different from that of turf hockey. Its' far better to have a confident team, than to have a set of proven non-performers. Players within the national league, should be good players in both forms of the game. Theres' no point in adapting to turf hockey, it will only lead to more K.P.S.Gills and we should sincerely avoid that.The Premier Hockey League, once its' played on grass, will not only attract poor and wealthy alike the turf will no longer be a barrier to young players from all corners of the country.
Lets' atleast make an attempt to achieve results inspite of K.P.S.Gill, just like Indian Economy is booming inspite of the Government.
India Calling: Toyota Corolla Tenth Generation
Toyota has long launched the 10th generation Corolla in various markets, including Japan, US, 
Australia, South Africa, Jamaica and quite a long list. Looking at Bombay Times these days one wonders if this beauty is gonna make it to India before FY09 hits us.
From the reviews and raves about this tenth generation babe, it looks like a apt answer to the undue dominance of the Honda Civic in the entry-level B segment.
This babe really rocks in looks, and that only echoes what the experts say about this package of energy. I mean, digital speedometers, climate control, and chic looks are some of the highlights of this beauty, who knows the next thing you see me, I might just have been lucky.
Australia, South Africa, Jamaica and quite a long list. Looking at Bombay Times these days one wonders if this beauty is gonna make it to India before FY09 hits us.From the reviews and raves about this tenth generation babe, it looks like a apt answer to the undue dominance of the Honda Civic in the entry-level B segment.
This babe really rocks in looks, and that only echoes what the experts say about this package of energy. I mean, digital speedometers, climate control, and chic looks are some of the highlights of this beauty, who knows the next thing you see me, I might just have been lucky.
Saturday, March 01, 2008
Definition of a Finance Minister: P.Chidambaram
What a Man!
Sir P.Chidambaram, he represents soneone that probably every business studen dream of...right at the top of the pyramid. The sole King of the most vibrant economy on this planet, making him the true governor of the fate of this earth.
No exaggerations, I am truly awed by the phenomenal magic show brought to life by Sir PC. And NO, I'm not talking about the 2008-09 budget, it was a damp squid, probably constrained by the petty political partners of Congress and its' own ranks. But, for all observers, there was one truly savouring experience of watching a Man blessed with wisdom, passion and a true sense of bold-spirit go about his job in the most professional manner known in this country since ages.
If Laloo is hailed by some firang university, it probably just proves that the west is already brain drained, they have no clue where the blast force of India lies, they are instead left praising her exhaust pipes.
Here is a man, who being a lawyer and a politician slashed the daylights out of self-propagated business news channels. Anyone who wanted proof why business channels should be watched in mute mode (perhaps only as a cheap replacement to BloomBerg or the likes) the post-budget interviews by Raghav Behl, NDTV Lead Anchor (who atleast got a finance brain with him) and the Zee Business News anchor (she's most likely to resign) only made it ever so clear.
One is left wonderiing, if only India had 520 more Sir P.Chidambarams, then India would not only hit that coveted double digit growth, but would so quickly become the best place to live on this planet.
Thank you very much, for being India's Finance Minister.
Sir P.Chidambaram, he represents soneone that probably every business studen dream of...right at the top of the pyramid. The sole King of the most vibrant economy on this planet, making him the true governor of the fate of this earth.
No exaggerations, I am truly awed by the phenomenal magic show brought to life by Sir PC. And NO, I'm not talking about the 2008-09 budget, it was a damp squid, probably constrained by the petty political partners of Congress and its' own ranks. But, for all observers, there was one truly savouring experience of watching a Man blessed with wisdom, passion and a true sense of bold-spirit go about his job in the most professional manner known in this country since ages.
If Laloo is hailed by some firang university, it probably just proves that the west is already brain drained, they have no clue where the blast force of India lies, they are instead left praising her exhaust pipes.
Here is a man, who being a lawyer and a politician slashed the daylights out of self-propagated business news channels. Anyone who wanted proof why business channels should be watched in mute mode (perhaps only as a cheap replacement to BloomBerg or the likes) the post-budget interviews by Raghav Behl, NDTV Lead Anchor (who atleast got a finance brain with him) and the Zee Business News anchor (she's most likely to resign) only made it ever so clear.
One is left wonderiing, if only India had 520 more Sir P.Chidambarams, then India would not only hit that coveted double digit growth, but would so quickly become the best place to live on this planet.
Thank you very much, for being India's Finance Minister.
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