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.
Dear Basant Ji,
Though I am new to The Equity Desk yet I read previous posts with avid interest. The thoughts expressed in these posts were quite thought provoking. The beauty of such thoughts in different forums, lies in the fact that you do not have to subscribe to the views expressed. On the contrary, it gives you a wonderful prospective from another man's point of view. At times this enables you to analyse and weigh your own viewpoint.
I relish these thought expressed in these forums as much as I relish the signature thoughts of various contributers.
" Euphoria " is what markets are all about. Have we sincerly pondered over a single point. What Drives The Market?
Every Investor does his homework on fundamentals/technicals and what not before entering the market and every investor gets carried over by the market euphoria once in awhile.
I am in equity invesing since pre- Harsad Mehta days. No electronic trading, No live TV channels and all that we used to rely upon was a telex of BSE opening rates that used to reach Chandigarh around 11:30 AM. And then the markets europhia used to start. Number of times I also used to get carried over and did speculate. This was despite an excellent advise from a fellow investor "Losses are only when you speculate, But if you have analysed your shares well, there may be loss of profit but no loss."
I still get carried by this kinetic energy called market euphoria. That's the reason I trade from my home, Where I am seculded from any external force acting on my insight.
Having said that, still I want this euphoria to continue in traders, investors, market pundits, media and general public. Because their euphoria may even touch my counter.
I particularly liked your post on Pantaloon. I hope you remember as part of your homework on that counter your intraction with Taxi Driver, Ladies of the house and standing and watching people stepping in westend versus those stepping in Pantaloon did make sense. But all the same you wanted everyone to be euphoratic about this company that you had had anlysed and rightly predicted the future.
These over enthusastic media guys were eqully responsible to take share of Satyam to 22/- . Please try to recollect the day after Raju's disclosure what all was being harped on every news channel. Today they are all bullish on this counter because of 20 Billion Unique ID project. They according to me are there for just "BREAKING NEWS"
How many of my esteemed friends on this forum really believe in the Breaking News segment {which is almost around the clock} on INDIA TV.
Yesterday they were predicting end Of Kalyug and the World On December 25th 2012.
Should I believe this or just walk merrily around my daily chores and let somebody else get euphoratic or even insane about it.
Excuse If you find my thoughts not in line with any contributer, but all the same these are my thoughts!!!!!
...Basant Sir you have opened up a Pandora's box.
great eloquence and lovely disdain towards a shameful way of living
all my gains till date are due to analysis and TED helps alot u guys r so selfless i admire u lot
thanx
drmadhu
There are those who have learnt from their experience in the markets (RJ,VB,SA) and there are those who haven't inspite of being in the markets from more than 10 years (UM,SS,RD)...
One should also look out for Sanjiv Duggal's view on the markets. He is one of the best fund manager according to me.
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.
Basant Ji,
If ever I buy a media stock, the dominating factor as always is revenue earnings. Media Companies earn their revenues from corporate world by way of advertisements. Time tested formula to gauge a new public offering is to see aggressive advertising by a particular company. Some old timers always feel that any company doing aggresive corporate advertising campaign has always something up its sleeve- a initial public offering- a rights issue- a acquisition a merger or something else.
If a corporate entity is being regularly featured in talk shows on all channels that means that company wants to put their message accross directly or indirectly. Is it not the same as you find leaders of all political parties in studios of every broadcaster during election time.
But one thing is sure ,it is this kind of corrupt behaviour which helps value investors earn a lot of money.People focus on momentum stock and let us get value stocks cheaply.
Basant sir,
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.
Basant Ji,
I wanted to start a new topic inspired by your write-up, but either my ISP or your forum rules prohibit me to start a new thread.
All the same, I use your blog to pose a question, which needs less answers but more intropection.
Am I A Bull Or A Bear?
All through my flings with Madame Equity Market, I have been fearful bull, confident bull, hurried bull, fearful bear, harried bear, confident bear and every thing the dictionary has to say about investors in equity market. ( Am I sounding like a commercial on CNBC).
My reson to call Equity market "Madame" is based on my innermost personal experience that the Madame Market is more unpredictable then a nagging wife.( wonder what Hitesh Shah ji may comment)
Coming back to point, we all are at times bullish or bearish as per our prospective, regardless of market being bullish or bearish.
I, for myself say, is always bullish in a bear atttacked market, and a fearful bear during bullish sessions.
It certainly is personal perogative of every individual to see things from his point of view. I recall having read as a teenager the following:
"Two men saw out of a prison cell, one saw the mud, other the stars.
This also reminds me of a signature thought--- two men intracted in abusiness deal , one sold , other bought and both went home contended they have made a smart deal. ( Excuse -I know my words are not ditto, but essence is somewhat same.)
How many of us can introinspect Am I A Bull Or A Bear?.
Amswers make much more sense if we do not have any definite answer.
These are my thoughts and everyone has free will to differ.
I have started enjoying this desk. KUDOS to you
[QUOTE=rajeshn07]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.
[/QUOTE]
Posted on:6/26/2009 7:02:32 AMFutureBull
bcz they don't do what they are best for i.e. trading and keep a portfolio too for "long term" and make heavy notional losses on them..looks ironic but true.. which reinforces their belief in trading and keeping short term view..