We have learnt some tough lessons said the CEO of India�s largest private sector MF who had promised his unit holders growth with vision. Another voice notorious for his tandaav with the bears a Le Grand From Age if you might call him has turned his tail 180 degrees. He was a bear a big one and is now a bull a quick hurried harmless bull, who gives no guarantee of his species because he might become a bull one day, a bear the other and a dog or a Pig depending on which way the wind is blowing.
The Star anchor of
Coming back to our fearless bear he had the courage to call Buffett lucky well if luck makes money and intellect loses it I�d rather be lucky then intelligent. Mr. Bear writes a report every few days. He is good at English and probably a student of Gynecology. In one of his reports he was doing a pregnancy test on the bull! He said that after checking the urine he is of the opinion that this is not a bull market and that a bull trap. Those reports do make for interesting reading especially if you are fond of brushing up your English.
Then there is another who sees to rhythm with the range. His ranges are as deep as the
I think that there is no way to check the quality on the Idiot Box for whatever reason it is called one. Now no one can tell me that you should switch off the TV because that means that if there is murder going on in front of my house I should just move away from the window and pull the curtains.
Markets are not about making a day trader out of every participant. It is also about long term education and if that looks too charitable to these business channels then well, good luck to them because sooner or later they will have to go free to air for their free advice. But as the critics would say there is are no free lunches in the world.
There is some serious flaw in the way the business channels operate. Either they are too stupid to understand their drawback or either too much hand in glove with the participants to create a psychology that they seem to have desired.
It takes no magic wand to understand why certain people including the self proclaimed momentum trader and several others are put up as mascots time and again. I think the primary precondition to have your face on TV is your English speaking skills rather then your thinking ones. No wonder the best of the speakers get mud and dust on their face but that's ok as long as there is a market we will have opinions but to blow the trumpet every time there is an opinion and to expect the crowd to be the bunch of rats and the mascot to be the Pied Piper of Hamlin is something that the crowd will be able to decipher sooner rather then later.
But as Gustave Le Bon wrote his book �THE CROWD A study of the Popular mind� the most eminent men seldom surpass the standard of the most ordinary individuals. From the intellectual point of view an abyss might exist between a great mathematician and his boot maker but from the point of view of character the difference is most often slight or non existent.
Strangely making money in the markets is 65% character and 35% intellect.
Also see: Letter from a bruised bull to the"expert"analyst.
Basantji, this is why "successful" anchors need a political background, which would have trained them to "hedge their positions" . Note that Mitali holds a gold medal from Delhi University in Political Science, while Latha graduated in Economics and Politics and has a doctoral degree in Political Science
Great piece, Basant !!! I couldn't have expressed my own thoughts in a better manner.
But I have some sympathy for some of these experts. The gatekeeper has to talk something all the time and thus has to focus on minute by minute movements. He cant just say - there was some usual buying or selling today, so shut your TV for the day - he will lose his job !! Similarly, unlucky sharma makes money by getting people to trade - so its better if everybody becomes a day trader and focuses on quarterly numbers and weekly stock movement.
What these experts don't realize is markets are all about odds. We hardly see one of these guys talking about different scenarios that might pan out and then see whats the worst that might happen and whats the best that can happen and then take an intelligent call.
Its funny how they are so sure about whats going to happen.They all have great faith in their "expert" abilities but they don't really have any conviction about the economy/a stock.They don't stick to their calls,they are too afraid cos they are not sure.Like any layman,they too are just guessing.
Faith is blind,Conviction is not.
We need more of the latter.
a nice article by akash prakash on today 26-6-2009 business -standard on the importance of ROE in the prestnt context.
nice article Basantji
It would be naive to think that these people walk the talk. Someone who appears a bull on the Idiot box may be actually selling bigtime and vice-versa.
Very well said sir. The mentioned MF chief (?) and the anchor are worst than a sucker trader. At 8k, he says he is having 20k crores of money and waiting to invest & at 15 k he says he wants to invest and launches one more NFO.
One cant be more stupid than this.
Nothing to mentioned about the anchor - he just another useless guy, playing with TV viewers' portfolio/money.
Poor investors and traders who are putting their money watching them.
I totally agree with chimak. Infact i had been following all of RJ's interviews in ant news channel or newspapers and i find most consistency in whatever he says. Rest all are like a leaf floating in the water, changing their direction along with the flow. All these people have formed a group, each one benefitting from other. The TV channel presents them as a demi god. I would never invest in the mentioned MF even if they promise me stars. I think its high time that we should come forward in exposing these self acclaimed gurus. People will gain much more if they follow this forum rather then listening to these bised people
Great article Basantji...eye opener for some!!
the fact is nobody can predict short term movements..but everyone will accept that there has always been interest to know short term and medium term movements..so one side there is demand and other side ever increasing competition in business media keeps them churning out something to retain eyeba*ls..but it definitely hurts who can't think much of their own and take decisions based on so called "calls" & "recos".. i have seen ppl making upto 25k/day based on these crappy recos. consistently. obviously they r day traders.. but the prob. is they can't even think of long term and so it serves them..we have ppl who keep listening to them and take trading decisions..
Posted on:6/25/2009 11:10:09 PMashishbarot
Good stuff basant sir, but every 3 people from 10 go with the advices from TV channels and land up with big losses. If at least a single person will change his mind by reading this topic i think our work is done.