After great success of Quiz last week, I am back with a new version this weekend. I hope you will find it entertaining and will learn from it A new way to learn about markets. The quiz comprises of 15 questions and it tests your knowledge on market, stocks and events that impact these stocks. Go [...]

Posted by Deepak Singh on July 03, 2009 01:47 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/RLEGMGLuBf-ObGY9aPFrID4T9mk/0/da"><img src="http://feedads.g.doubleclick.net/~a/RLEGMGLuBf-ObGY9aPFrID4T9mk/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/RLEGMGLuBf-ObGY9aPFrID4T9mk/1/da"><img src="http://feedads.g.doubleclick.net/~a/RLEGMGLuBf-ObGY9aPFrID4T9mk/1/di" border="0" ismap="true"></img></a></p><p>Ashok Leyland has informed the market that they have bagged an order worth Rs 300 crore from Tamil Nadu State Transport Corporation for supply of 1,500 buses. Of the 1,500 buses, 900 will be for Chennai and 300 each for Madurai and Coimbatore.This order was bagged with funding from the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) scheme. </p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F03%2Fashok-leyland-bags-order-worth-300-crores%2F'; addthis_title = 'Ashok+Leyland+bags+order+worth+300+crores'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/1YgfLcwnTsw" height="1" width="1"/>

Posted by admin on July 03, 2009 11:47 AM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/3jY6TCglZ08XhTxnP1fHxaojGP0/0/da"><img src="http://feedads.g.doubleclick.net/~a/3jY6TCglZ08XhTxnP1fHxaojGP0/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/3jY6TCglZ08XhTxnP1fHxaojGP0/1/da"><img src="http://feedads.g.doubleclick.net/~a/3jY6TCglZ08XhTxnP1fHxaojGP0/1/di" border="0" ismap="true"></img></a></p><p>Just got after a long work and checked my portfolio specifically for the Railway stocks that i recommended before the railway budget .None of them are in green everything came down today .That itself tells us that there is nothing in this budget for wagon making or any other railway stocks so we will see what is this year highlights.<br /> <strong>2009-2010 Railway Budget Highlights</strong></p> <blockquote><p>> There is no change in Fare and Freight rates , so good for people and company<br /> > Expansion of railway network to every corner of the country.<br /> > Proposed plan of RS.40,745 CR for outlay.<br /> > Tatkal to be made passenger friendly .<br /> > Faster parcel service in three main routes.<br /> > Railway ticket to be available through post office.<br /> > Railway concession for Press persons is 50 % now.<br /> > Only Ladies Train &#8211; AT DELHI, KOLKATA AND CHENNAI<br /> > 12 NEW POINT-TO-POINT ‘DURANTO&#8217; TRAINS<br /> > 57 NEW TRAINS, EXTENSION OF 27 TRAINS AND INCREASE IN FREQUENCY OF 13 TRAINS<br /> AND AIR-CONDITIONED DOUBLE-DECKER TRAINS PROPOSED .<br /> > 50 STATIONS TO BE UPGRADED TO WORLD CLASS STATIONS .<br /> > Long distance to have doctors on board and also entertainment facility.<br /> > Aged and Handicapped persons to have more ameneties.<br /> > 6560 RAILWAY STAFF QUARTERS TO BE CONSTRUCTED AND GROUP ‘D&#8217; EMPLOYEES TO GET SCHOLARSHIPS FOR THEIR GIRL CHILD<br /> > SPECIAL TRAINS TO FERRY PERISHABLE AGRO PRODUCTS AND RURAL HANDICRAFTS<br /> > SPECIAL FUND FOR THE DEVELOPMENT OF NORTH EAST RAILWAY </p></blockquote> <p><strong><a href="http://indianrailways.gov.in/Budget_2009-10/Speech_English_2009-10_Highlight.pdf" target="new">Download 2009-2010 Railway Budget Speech and Highlights </a></strong></p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F03%2Frailway-budget-2009-2010-highlights%2F'; addthis_title = 'Railway+Budget+2009-2010+%26%238211%3B+Highlights'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/_TJrojOuBiQ" height="1" width="1"/>

Posted by admin on July 03, 2009 11:41 AM · permalink

  Question: I am bullish on Infoedge (Naukri.com) and want to add the stock to my portfolio as long term investment buy. What is the right price to enter the stock?…email in my mail box Answer: Rs. 550. I am also bullish on Infoedge (Naukri.com). It is a Rs. 1680 crores market cap company. The stock [...]

Posted by Deepak Singh on July 03, 2009 03:11 AM · permalink

  <p>Dear readers,</p> <p>Given the fantastic feedback and massive requests for more Hyman Minsky material I decided to compile a list of free research papers (and corresponding abstracts)that you can download below.</p> <p>Best,</p> <p>Miguel Barbosa</p> <p>1. <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=161024"><strong>The Financial Instability Hypothesis - Via SSRN - (Click Here To Download This Paper)</strong></a></p> <p>The Financial Instability Hypothesis (FIH) has both empirical and theoretical aspects that challenge the classic precepts of Smith and Walras, who implied that the economy can be best understood by assuming that it is constantly an equilibrium-seeking and sustaining system. The theoretical argument of the FIH emerges from the characterization of the economy as a capitalist economy with extensive capital assets and a sophisticated financial system.  In spite of the complexity of financial relations, the key determinant of system behavior remains the level of profits: the FIH incorporates a view in which aggregate demand determines profits. Hence, aggregate profits equal aggregate investment plus the government deficit. The FIH, therefore, considers the impact of debt on system behavior and also includes the manner in which debt is validated.  Minsky identifies hedge, speculative, and Ponzi finance as distinct income-debt relations for economic units. He asserts that if hedge financing dominates, then the economy may well be an equilibrium-seeking and containing system: conversely, the greater the weight of speculative and Ponzi finance, the greater the likelihood that the economy is a &#8220;deviation-amplifying&#8221; system. Thus, the FIH suggests that over periods of prolonged prosperity, capitalist economies tend to move from a financial structure dominated by hedge finance (stable) to a structure that increasingly emphasizes speculative and Ponzi finance (unstable). The FIH is a model of a capitalist economy that does not rely on exogenous shocks to generate business cycles of varying severity: business cycles of history are compounded out of (i) the internal dynamics of capitalist economies, and (ii) the system of interventions and regulations that are designed to keep the economy operating within reasonable bounds.</p> <p><strong>2. <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=171533">Financial Crises: Systemic or Idiosyncratic - Via SSRN (Click Here To Download This Paper)</a></strong></p> <p>The presentations at this conference are by economists from Academies and economists who professionally confront real world problems, either in private finance or in public policy. As economists we accept that the remarks made by Keynes in the closing passage of The General Theory are true: &#8220;&#8230; the ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist. &#8230;. I am sure the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas. &#8230; Soon or late it is ideas, not vested interests, which are dangerous for good or evil.&#8221; We like this assertion not only because it makes us important but also because it makes good sense. The ideas that Keynes refers to are theories. A theory prior for rational action. A of system behavior is a proposed action, whether by individual agents in households or firms, a bank, a government agency or a legislative body is appropriate action only as a theory connects the action to the desired result. Because some institutions, such as deposit insurance, the savings and loan industry, and a number of the great private banks, that served the economy well during the first two generations after the great depression, seem to have broken down, the need to reform and to reconstitute the financial structure is now on the legislative agenda. As we try to fix the financial system three questions should be asked of the pushers of a policy proposal: 1. &#8220;What is it that is taken to be broke?&#8221;, 2. &#8220;What theory about proposal?&#8221; 3. What are the dire consequences of not fixing that which you assert is broke? In what follows I will take up three points 1. Two views of the results of the economic process 2. Systemic and idiosyncratic sources of financial crises 3. Some ideas about the scope for policy in the present &#8220;crisis&#8221;.</p> <p><strong>3. <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=141121">Finance and Stability: The Limits of Capitalism Via SSRN (Click Here To Download This Paper)</a></strong><br /> Once again the United States economy is facing a crisis, resolution of which first requires the realization that there are many types of capitalism: Solutions implemented in the past, therefore, may or may not be an appropriate solution today, as they could have been implemented as an answer to a problem posed within the context of a different model. Alternatively, the solution may lie in the implementation of a totally new economic regime in answer to reoccurring problems inherent in capitalism in general. The implementation of a new model is not a unique happening in United States economic history. The interventionist model&#8211;set in motion by President Roosevelt in answer to the failure of the laissez-faire model in the 1930s&#8211;dealt with the obvious flaw inherent in capitalism in general, namely, its inability to maintain a level of aggregate demand consistent with full employment. Implementation of the interventionist model prevented a massive depression of the type experienced in the 1930s from being repeated due to the larger role played by the government sector in maintaining demand via active fiscal policy, while moderating inflation through the use of monetary policy. The interventionist model also recognized the less obvious, deeper flaw of capitalism&#8211;namely, the manner in which the financial system can adversely affect the price of assets relative to that of current output. Absent any interventionist policy, the resulting decline in private investment and profits leads to a downward spiral and collapse of the financial sector. The institutional roadblocks included in the interventionist model were sufficient to avert large disequilibriums in asset and output prices, thereby sustaining profits and precluding a deep recession. (Indeed, the Federal Reserve was not forced to act to avert a financial crisis until 1968, when problems arose in the commercial paper market.) The interventionist model, however, was abrogated during the 1980s with the reinstitution of a new laissez-faire model. The new model eliminated many of the restrictions imposed on financial sector, massive increases in national deficits through unproductive public sector spending (made even more inefficient by the resulting interest on the debt), and the growth of speculative financing schemes that left us with too many highly indebted firms. A large, financially induced depression was contained only through the reintroduction of massive governing monetary and fiscal intervention in the form of the S&amp;L bailout and the maintenance of profits with massive deficits. Although the subsequent drop in interest rates has resulted in a rise in asset values and somewhat abated the turmoil in the financial markets, the economy continues to stagnate.</p> <p><strong>4. <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=100888">Financial Instability and the Decline of Banking: Public Policy Implications</a> - <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=100888">Via SSRN (Click Here To Download The Paper)</a></strong></p> <p>Banking plays two roles in a modern capitalist economy: It provides a means of payment and channels resources into capital development. These functions are being performed to a decreasing extent by banks, and it appears that this trend will continue. Such developments suggest that the economic role of central banks needs to be reviewed because the role of banks is significant in the ability of the central bank to conduct monetary policy. This ability is changing due the transformation of the channels through which Federal Reserve operations affect the economy away from affecting the availability or cost of financing and toward affecting uncertainty, the evaluation by portfolio managers of the viability of enterprises, and the stability of markets. When central bank operations affect the uncertainty of financial market agents, market reactions will often be out of proportion to the size of the operation.</p> <p><strong>5. <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=179455">The Transition to a Market Economy: Financial Options - Via SSRN (Click Here To Download The Paper)</a></strong><br /> The social transformation of Eastern Europe has proceeded much faster, and the destruction of communism&#8217;s legitimacy and efficacy has been more complete, than was deemed possible even a few years ago. A common tenet among the economies now emerging from communism is the lack of significant private wealth, even though there are capital assets that are used in production and have the potential to generate profits. However, since there is no relevant history of profits in the emerging economies, there is no way to meaningfully assess values of capital assets. The financial system provides for linkages through time: Exchanges of money for well-defined claims to future-money flow are made daily. Thus, the financial structure and the physical capital assets of a capitalist economy link the present and the past to the future. The options available to the emerging economies with respect to their financial structure are limited-the lack of significant private wealth leads to weak market for financial instruments and poor prospects for market-based financing. The initial choice of a financial structure is constrained to universal banks or public holding companies. Special venture capital holding companies and local independent banks should be integrated into the financial structure to facilitate entrepreneurial spirit. The public holding company is favored as a transitional instrument to foster the development of information and private wealth, and should be modeled after the Reconstruction Finance Corporation of the New Deal era.</p> <p><strong>6.<a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=161469"> The Capitalist Development of the Economy and the Structure of Financial Institutions - Via SSRN (Click Here To Download The Paper) </a></strong><br /> This paper evolves from the sharp contrast in Smithian and Keynesian views about the relationship between the financial structure and the economy. The Smithian perspective implies that the financial structure is irrelevant, whereas the Keynesian position concludes that effective financing is necessary for the &#8220;capital development of the economy&#8221;- there is also a need to constrain any tendency of what Keynes referred to as speculation to dominate. Thus, the essential elements of equilibrium in Keynesian theory, the financial theory of investment and the investment theory of business cycles, are most apt when examined as outcomes of processes that operate over time. During the 1980s, there was a sharp increase in speculative financing resulting from the trend toward leveraged buyouts and the rising demand for short-term marketable corporate liabilities. A main characteristic of a capitalist economy that is stagnant or immersed in a depression is that the capital development of the economy is not progressing. The 1980s were filled with examples of financing inept investments, while the current climate is one of grossly inadequate investment levels to create a progressive full-employment economy. The financial instability interpretation of Keynes rests upon the profitability of debt financing, and incorporates the potential collapse of asset values in an environment of speculative and Ponzi financing. Consequently, the financial structure is significantly more fragile today than earlier in the post World War II era.</p> <p><strong>7.<a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=161596"> Reconstituting the United States&#8217; Financial Structure: Some Fundamental Issues -Via SSRN (Click Here To Download The Paper)</a></strong></p> <p>Deposit insurance, the savings and loan industry, facets of the insurance industry, and a significant number of private banks have all been plagued by recent collapse. The legislative agenda goes beyond merely funding the shortfall in deposit insurance funds: Congress has suggested that reforming the deposit insurance function, as well as the associated regulatory and supervisory structure, is imperative to avoid a recurrence of Treasury financing. An assessment of the problem, and also the prescriptions for a cure, rest on the particular theoretical perspective of the observer. The Smithian view asserts that markets always lead to the promotion of public welfare, while Keynesian theory states that market processes may lead to malfunction of the capital development of the economy-that is, something other than the promotion of public welfare. For example, the crisis in finance during 1991 is largely a delayed response to the experiment in practical monetarism that occurred from 1979 to 1982. In typically simplistic fashion, monetarism suggests that inflation is always the result of too much money chasing too few goods: Hence, controlling inflation rests on controlling money supply. The fundamental flaw in the Bush administration&#8217;s proposals is that they subscribe to a Smithian theme. They impute the problems afflicting the finance industry (e.g. lack of capital development of the economy) to a minor flaw in the institutional structure rather than to basic characteristics of the economy. The recommendations submitted in the paper are inherently distinct from the administration&#8217;s proposal and have evolved from a Keynesian model of the economy specifying the processes and determinants of the performance of the economy.</p> <p><strong>8. <a href="http://papers.ssrn.com/sol3/papers.cfm?abstract_id=8659">Uncertainty and the Institutional Structure of Capitalist Economies - Via SSRN (Click Here To Download The Paper) </a></strong><br /> In this working paper Distinguished Scholar Hyman P. Minsky explores the theoretical and practical causes of today&#8217;s rising economic uncertainty and insecurity. He begins by noting views of uncertainty held by Keynes and adherents of the new classical economics by comparing Keynes&#8217; The Treatise on Probability and Sargent&#8217;s Bounded Rationality in Macroeconomics. According to both views, decisions are made by agents based on varying degrees of ignorance and supposition; the agents have a more or less limited amount of knowledge and base their judgements on their own idea of how the economy works (their &#8220;model of the model&#8221;). In addition, agents are not homogeneous but have differing abilities and histories. Thus the internal models used to guide decisions are not consistent from agent to agent. Minsky notes that although according to Sargent&#8217;s concept of bounded rationality all agents at any one time need not be acting according to mutually consistent models, Sargent ignores a point stressed by Keynes about the decision-making process: Economic events at any one time are the result of past mental models (and corresponding actions and expectations), and those past models are different from current models (and correspondingly different actions and expectations); therefore, factors that might determine long-term expectations are in a continuous state of flux. Despite this difference, the gap between the ideas of the two schools of thought have narrowed. Minsky points out that capitalism in the United States is an ever-evolving construct that recently entered a new stage: money manager capitalism. In this form of capitalism, nearly all businesses are organized as corporations; pension and mutual funds are the predominant owners of financial assets; and managers of these funds are judged solely on the total return on fund assets (dividends and interest plus appreciation in share value). One consequence of the money manager structure is predominance of short-run considerations in decision making.��Historically, the public has had limited tolerance for uncertainty. During the New Deal era this intolerance led to the creation of institutions and arrangements to reduce uncertainty and create transparency in both financial markets and corporate governance. For example, crop insurance set floors to farmers&#8217; incomes, and deficits run by the federal government set floors to aggregate profit flows. However, the focus of money manager capitalism on short-run returns and uncompromised profit margins has increased economic uncertainty at the firm and plant levels through the chronic need to reduce overhead and variable costs. These activities have unraveled the traditional relationships between firms and workers and increased economic insecurity among employees. Minsky asserts that since existing institutions and arrangements cannot contain this uncertainty, new institutions and arrangements must be created to offset the effects felt by the &#8220;losers&#8221; in the gamble imposed by uncertainty. Such measures are necessary to prevent these individuals from becoming alienated and hence recruits for an alternative to democracy. Accepting the view of Henry Simons that the focus of economic policy is not narrowly the economy but rather to &#8220;assure that the economic prerequisites for sustaining the civil and civilized standards of an open liberal society exist,&#8221; Minsky suggests that full employment programs analogous to certain New Deal programs (the Works Progress Administration, the Civilian Conservation Corps, and the National Youth Administration, for example) should be considered to meet these goals.��How would such programs be financed? According to Minsky, the U.S. economy has ample resources, but the question is one of how willing we are to mobilize these resources, that is, to tax and borrow for such projects. For example, welfare in its current form (AFDC and food stamps) exists because it is the cheapest way (short of a policy of doing nothing at all) to take that ratio care of the population in need. Full employment policies are more humane but more expensive and require a larger and more innovative public sector. For government to institute programs to offset the uncertainties of money manager capitalism, it must validate government debt with government revenues. The current high rate of government debt to gross domestic product (GDP) is the result of the irresponsible fiscal policies of the 1980s; a responsible program would assure the decline of the ratio of federal debt to GDP over time from its current 65 percent to about 50 percent. The reduction could be accomplished by transforming the tax structure to a value-added revenue system in which, for example, the individual income tax is replaced by a progressive consumption tax with broad bands and a high per person deduction and value-added taxes are levied on production or distribution and on imports. Imposing such a revenue system would allow the United States to transform its economy from one based on transfer payments to a full employment economy, from one that generates resentment to one that maintains commitment to democracy.</p>

Posted by Miguel on July 03, 2009 02:06 AM · permalink

  There is no excerpt because this is a protected post.

Posted by Deepak Singh on July 03, 2009 01:40 AM · permalink

  <p>Recently I linked to several articles which are quite critical of Nassim Taleb. Now its time to post some positive content .</p> <p>The following video was linked on the Farnam Street blog. (Great job FS)<br /> <strong><a href="http://www.youtube.com/watch?v=LZZYZqBUwos&amp;feature=player_embedded">Watch The Video Below Or Click Here For Our Email/Rss Readers</a></strong></p> <p><object width="425" height="344" data="http://www.youtube.com/v/LZZYZqBUwos&amp;rel=0&amp;color1=0xb1b1b1&amp;color2=0xcfcfcf&amp;hl=en&amp;feature=player_embedded&amp;fs=1" type="application/x-shockwave-flash"><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><param name="src" value="http://www.youtube.com/v/LZZYZqBUwos&amp;rel=0&amp;color1=0xb1b1b1&amp;color2=0xcfcfcf&amp;hl=en&amp;feature=player_embedded&amp;fs=1" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on July 03, 2009 01:04 AM · permalink

  <p style="text-align: left;">A teaspoon of Mises a day keeps inflation at bay.</p> <p style="text-align: center;"><a href="http://mises.org/story/3525"><strong>Click Here To Read Mises.Org&#8217;s Analysis Of Inflation</strong></a></p> <p><strong>Introduction (Via Mises.Org)</strong></p> <p>The Federal Reserve is lying about the nation&#8217;s money supply (M1). The current figure for money supply is being given as $1.6 trillion. The actual number is $2.34 trillion. The reported number is equivalent to an increase of 16% over the past year. The actual number is equivalent to an increase of 70% over the past year. This compares with the nation&#8217;s high money-supply increase of 16.9% in 1986.</p> <p><strong>Excerpts (Via Mises.Org)</strong></p> <p>However, the monetary base is a <em>part</em> of the money supply. How can the part exceed the whole? (Money is created in 2 basic steps. First, the Federal Reserve prints up paper money. This is called special money and is usable by private banks as reserves. It is treated in the system in the way gold used to be. This money is measured by Federal Reserve credit, or Reserve Bank credit. With a few adjustments, this becomes the monetary base, which can be thought of as the special money that is available to the banking system for the second step. In the second step, the private banks create money in the form of demand, and other checkable, deposits. They do this in the process of making loans. Essentially, the nation&#8217;s money supply is cash — the special money — plus bank deposits.)</p> <p>Last year practically every newspaper in the country was telling you that the problem we faced was &#8220;deflation.&#8221; That was a gigantic piece of propaganda designed to frighten you into holding cash. Remember the flight to &#8220;safety&#8221; into T-bills and T-bonds? Most people fled from hard assets. These are the victims. They believed the propaganda of the establishment. When the debris of our collapsing society starts to come down, they will be its victims. Their assets will be &#8220;safe&#8221; in the US dollar as it loses its place as the world&#8217;s reserve currency.</p> <p style="text-align: center;"><a href="http://mises.org/story/3525"><strong>Click Here To Read Mises.Org&#8217;s Analysis Of Inflation</strong></a></p>

Posted by Miguel on July 02, 2009 09:06 PM · permalink

  <p>More interesting comments on the health care part of the video. Enjoy!</p> <p><strong>Introduction (Via CNN)</strong><br /> Paul Krugman and John B. Taylor debate the origins of the financial crisis and the proposed health care plan.<br /> <strong><a href="http://economistsview.typepad.com/economistsview/2009/07/video-krugman-and-taylor.html">Watch The Video Below Or Click Here FOr Our Email/Rss Subscribers</a></strong><br /> <script src="http://i.cdn.turner.com/cnn/.element/js/2.0/video/evp/module.js?loc=dom&amp;vid=/video/bestoftv/2009/06/28/gps.krugman.taylor.econ.cnn" type="text/javascript"></script><noscript>Embedded video from &amp;lt;a href=&#8221;http://www.cnn.com/video&#8221; mce_href=&#8221;http://www.cnn.com/video&#8221;&amp;gt;CNN Video&amp;lt;/a&amp;gt;</noscript></p>

Posted by Miguel on July 02, 2009 09:00 PM · permalink

  <p>My friend James Montier would probably agree that time spent reading Minsky or <span id="main" style="visibility: visible;"><span id="search" style="visibility: visible;">Kindleberger would save investors from making foolish mistakes.<br /> </span></span></p> <p><strong>Background </strong>(Via Wikipedia)</p> <p>Hyman Minsky was an American economist and professor of economics at Washington University in St. Louis. His research attempted to provide an understanding and explanation of the characteristics of financial crises. Minsky was sometimes described as a <span class="mw-redirect">post-Keynesian economist</span>, because, in the <span class="mw-redirect">Keynesian</span> tradition, he supported some government intervention in financial markets and opposed some of the popular deregulation policies in the 1980s, and argued against the accumulation of debt. His research, nevertheless, endeared him to Wall Street.</p> <p><strong>Excerpt Of Minsky&#8217;s Contributions </strong>(Via Wikipedia)</p> <p>Dr. Minsky proposed theories linking financial market fragility, in the normal life cycle of an economy, with speculative <span class="mw-redirect">investment bubbles</span> endogenous to financial markets. Minsky claimed that in prosperous times, when corporate cash flow rises beyond what is needed to pay off debt, a speculative euphoria develops, and soon thereafter debts exceed what borrowers can pay off from their incoming revenues, which in turn produces a financial crisis. As a result of such speculative borrowing bubbles, banks and <span class="mw-redirect">lenders</span> tighten credit availability, even to companies that can afford loans, and the economy subsequently contracts.</p> <p><a style="margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block; text-decoration: underline;" title="View Minsky Stabilizing an Unstable Economy Complete on Scribd" href="http://www.scribd.com/doc/11626149/Minsky-Stabilizing-an-Unstable-Economy-Complete">Minsky Stabilizing an Unstable Economy Complete</a> <object width="399" height="502" data="http://d.scribd.com/ScribdViewer.swf?document_id=11626149&amp;access_key=key-227uak7njlce52kshq5n&amp;page=1&amp;version=1&amp;viewMode=" type="application/x-shockwave-flash"><param name="id" value="doc_587574868042846" /><param name="name" value="doc_587574868042846" /><param name="align" value="middle" /><param name="quality" value="high" /><param name="play" value="true" /><param name="loop" value="true" /><param name="scale" value="showall" /><param name="wmode" value="opaque" /><param name="devicefont" value="false" /><param name="bgcolor" value="#ffffff" /><param name="menu" value="true" /><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><param name="src" value="http://d.scribd.com/ScribdViewer.swf?document_id=11626149&amp;access_key=key-227uak7njlce52kshq5n&amp;page=1&amp;version=1&amp;viewMode=" /><param name="allowfullscreen" value="true" /></object></p> <p><a style="margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block; text-decoration: underline;" title="View Crisis and History on Scribd" href="http://www.scribd.com/doc/9070013/Crisis-and-History">Minsky On Crisis and History</a> <object width="401" height="502" data="http://d.scribd.com/ScribdViewer.swf?document_id=9070013&amp;access_key=key-v7lj0cbpbgm31sgoh4y&amp;page=1&amp;version=1&amp;viewMode=" type="application/x-shockwave-flash"><param name="id" value="doc_824805741704537" /><param name="name" value="doc_824805741704537" /><param name="align" value="middle" /><param name="quality" value="high" /><param name="play" value="true" /><param name="loop" value="true" /><param name="scale" value="showall" /><param name="wmode" value="opaque" /><param name="devicefont" value="false" /><param name="bgcolor" value="#ffffff" /><param name="menu" value="true" /><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><param name="src" value="http://d.scribd.com/ScribdViewer.swf?document_id=9070013&amp;access_key=key-v7lj0cbpbgm31sgoh4y&amp;page=1&amp;version=1&amp;viewMode=" /><param name="allowfullscreen" value="true" /></object></p> <p><a style="margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block; text-decoration: underline;" title="View Macroeconomics Meets Hyman P. Minsky the Financial Theory of Investment on Scribd" href="http://www.scribd.com/doc/7882315/Macroeconomics-Meets-Hyman-P-Minsky-the-Financial-Theory-of-Investment">Macroeconomics Meets Hyman P. Minsky the Financial Theory of Investment</a> <object width="399" height="502" data="http://d.scribd.com/ScribdViewer.swf?document_id=7882315&amp;access_key=key-26te64q63k5y0xety741&amp;page=1&amp;version=1&amp;viewMode=" type="application/x-shockwave-flash"><param name="id" value="doc_91220011294590" /><param name="name" value="doc_91220011294590" /><param name="align" value="middle" /><param name="quality" value="high" /><param name="play" value="true" /><param name="loop" value="true" /><param name="scale" value="showall" /><param name="wmode" value="opaque" /><param name="devicefont" value="false" /><param name="bgcolor" value="#ffffff" /><param name="menu" value="true" /><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><param name="src" value="http://d.scribd.com/ScribdViewer.swf?document_id=7882315&amp;access_key=key-26te64q63k5y0xety741&amp;page=1&amp;version=1&amp;viewMode=" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on July 02, 2009 07:44 PM · permalink

  <p>This is for the personal finance aficionados.</p> <p><strong>Introduction (Via Fama French Forum)</strong></p> <p>Does it make sense to dollar cost average? It depends. Standard financial analysis says dollar cost averaging is suboptimal. If you focus on only your investment outcome, investing a lump sum immediately lets you construct the best portfolio you can today; slowing the process with dollar cost averaging just keeps you in something other than your best portfolio until you are done. Behavioral finance provides a different perspective. Because of the difference between the way people react to errors of omission and errors of commission, dollar cost averaging may give investors a better expected investment experience.</p> <p><a href="http://www.dimensional.com/famafrench/2009/06/dollar-cost-averaging.html"><strong> Click On The Image Below To Watch The Video Or Click Here For Our Email/Rss Subscribers</strong></a></p> <p><a href="http://www.dimensional.com/famafrench/2009/06/dollar-cost-averaging.html"><img class="alignleft size-full wp-image-2661" title="Fama &amp; French" src="http://www.simoleonsense.com/wp-content/uploads/2009/07/ff.jpg" alt="Fama &amp; French" width="509" height="282" /></a></p>

Posted by Miguel on July 02, 2009 05:41 PM · permalink

GalaTime  
  <p>Via <a href="http://www.aleablog.com/">Alea</a>, <a href="http://www.bankofengland.co.uk/publications/speeches/2009/speech397.pdf" target="_blank"><strong>Small Lessons from a Big Crisis, Andrew G Haldane, BofE</strong></a></p> <blockquote><p>During the golden era, competition simultaneously drove down returns on assets and drove up target returns on equity. Caught in this cross-fire, higher leverage became banks’ only means of keeping up with the Jones’s. Management resorted to the roulette wheel.</p> <p>. . . when evaluating banks and their management, there is a need for greater focus on returns on assets rather than on equity. Good luck and good management need to be better distinguished. Put differently, returns to investors and managers need to be more accurately risk-adjusted if the right balance between risk and return is to be struck for individual firms and for the financial system as a whole. Second, there is a need to place much stricter system-wide limits on leverage.</p></blockquote> <div><a href="http://www.addthis.com/bookmark.php" onclick="window.open('http://www.addthis.com/bookmark.php?pub=galatime&amp;url=http%3A%2F%2Fwww.galatime.com%2F2009%2F07%2F02%2Fgeared-golden-geese%2F&amp;title=Geared+Golden+Geese', 'addthis', 'scrollbars=yes,menubar=no,width=620,height=520,resizable=yes,toolbar=no,location=no,status=no'); return false;" title="Bookmark using any bookmark manager!" target="_blank"><img src="http://s3.addthis.com/button1-bm.gif" width="125" height="16" border="0" /></a></div> <p><a href="http://feedads.g.doubleclick.net/~a/5ez12Im_LZohZ7Y91lkDJ-kYwcc/0/da"><img src="http://feedads.g.doubleclick.net/~a/5ez12Im_LZohZ7Y91lkDJ-kYwcc/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/5ez12Im_LZohZ7Y91lkDJ-kYwcc/1/da"><img src="http://feedads.g.doubleclick.net/~a/5ez12Im_LZohZ7Y91lkDJ-kYwcc/1/di" border="0" ismap="true"></img></a></p>

Posted by Kaushik on July 02, 2009 03:40 PM · permalink

  <p>After weathering the alternate bouts of buying and selling activity through the day, the Indian markets closed marginally higher than yesterday&rsquo;s levels. The BSE Sensex and NSE Nifty ended higher, up by around 13 points and 8 points respectively. The stocks from the mid-cap and the small-cap spaces ended higher, up by around 0.33% and 0.74% respectively. Buying activity was witnessed among the stocks from the metals, realty and healthcare sectors. Engineering and auto stocks were at the receiving end. The overall market breadth was positive, with gainers outnumbering losers in ratio of 1.2 to 1 on the BSE.</p><p>Most of the Asian markets ended the day on a weak note. The European markets are also trading weak currently. The Rupee was trading at 47.91 against the US Dollar at the time of writing.</p>

Posted by Equitymaster on July 02, 2009 12:51 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/k1OohiZdgLoKe2LTxyxa0Nbpf_g/0/da"><img src="http://feedads.g.doubleclick.net/~a/k1OohiZdgLoKe2LTxyxa0Nbpf_g/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/k1OohiZdgLoKe2LTxyxa0Nbpf_g/1/da"><img src="http://feedads.g.doubleclick.net/~a/k1OohiZdgLoKe2LTxyxa0Nbpf_g/1/di" border="0" ismap="true"></img></a></p><p>McNally Bharat Engineering Company informed the market today that they have bagged order worth 46.88 crore from NTPC , After today its almost up 27 percent in 9 days.<br /> <strong>Order Info </strong></p> <blockquote><p>>One of the two orders valued at Rs 15.44 crore is from NTPC, Noida for supply of pre-treatment plant package for Mauda Super thermal power project. The order is to be executed within 28 months.<br /> >Another order valued at Rs 31.44 crore is also from NTPC, Noida for its water pre-treatment plant package for Barh Super thermal power project. This order is to be executed within a period of 42 months.</p></blockquote> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F02%2Fmcnally-bharat-engineering-bags-order-from-ntpc%2F'; addthis_title = 'McNally+Bharat+Engineering+bags+order+from+NTPC'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/Fwcf6xiYU9U" height="1" width="1"/>

Posted by admin on July 02, 2009 10:24 AM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/ryXPbCEnIwCwYZLKftvPpn03TL0/0/da"><img src="http://feedads.g.doubleclick.net/~a/ryXPbCEnIwCwYZLKftvPpn03TL0/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/ryXPbCEnIwCwYZLKftvPpn03TL0/1/da"><img src="http://feedads.g.doubleclick.net/~a/ryXPbCEnIwCwYZLKftvPpn03TL0/1/di" border="0" ismap="true"></img></a></p><p>Punj Lloyd Ltd has informed the market that it has bagged 3 contracts worth 1873.18 crore from Housing and Infrastructure Board, Libya for designing, procurement, installation and commissioning of utilities at Zawara, Ragdaleen and Al Jamail towns in Libya .</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F02%2Fpunj-lloyd-secures-orders-worth-1873-crore%2F'; addthis_title = 'Punj+Lloyd+secures+orders+worth+1873+crore'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/Bg8f7k6JdBg" height="1" width="1"/>

Posted by admin on July 02, 2009 10:15 AM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/tEKP5wFIf4alnHc43dWChIrmsR4/0/da"><img src="http://feedads.g.doubleclick.net/~a/tEKP5wFIf4alnHc43dWChIrmsR4/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/tEKP5wFIf4alnHc43dWChIrmsR4/1/da"><img src="http://feedads.g.doubleclick.net/~a/tEKP5wFIf4alnHc43dWChIrmsR4/1/di" border="0" ismap="true"></img></a></p><p>Inflation data was released today </p> <blockquote><p>>Wholesale Price Index for &#8216;All Commodities&#8217; for the week ended 20th June 2009 rose by 0.2 percent to 234.6 from 234.2 last week.<br /> >Inflation rate was at negative 1.30 percent for week ended 20 June 2009 compared with negative 1.14 percent fall last week and 11.91 percent growth during the week ended 21 June 2008.</p></blockquote> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F02%2Finflation-at-negative-1-3-still-its-deflation%2F'; addthis_title = 'Inflation+at+negative+1.3+%26%238211%3B+Still+its+Deflation'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/q8k694_-1yw" height="1" width="1"/>

Posted by admin on July 02, 2009 10:11 AM · permalink

  <p>A link to this Q&amp;A was sent to me by Lincoln Minor (Thanks buddy!)</p> <p style="text-align: center;"><a href="http://www.gurufocus.com/news.php?id=59450"><strong>Click Here To Read A Q/A With Super Investor Joel GreenBlatt</strong></a></p> <p><strong>Excerpts (Via Guru Focus)</strong></p> <p><strong>Question 1.</strong> While reading your biography or rather from what is available on the internet, I noticed you graduated in 1980 and founded Gotham in 1985. I was wondering what you did during that 5 year interim ? Did you work at a hedge fund or in banking, and if so in what area? (Bertrand)</p> <p><strong>Professor <a href="http://www.gurufocus.com/StockBuy.php?GuruName=Joel+Greenblatt">Joel Greenblatt</a> (JG):</strong> After graduating Wharton with an MBA in 1980, I decided to go to Law School to avoid taking a real job. After my first year, I decided that going to law school if you didn’t want to be a lawyer was perhaps not the best idea in the world. I took a job at a start-up hedge fund at the end of 1981 doing mostly risk arbitrage and special situation investing and started Gotham Capital in 1985.<br /> <strong>Question 7.</strong> It seems from your portfolio that you weren&#8217;t very active in the market in the past two years. You had a concentrated portfolio before and recently you came back with a very diversified portfolio in 2008. Then it seemed that you sold almost everything. Was it because you saw the crash coming? Why did you switch funds and can we invest in your new fund? If so, how? What do you see the market and the economy doing in the next few years? (charliet)</p> <p><strong>JG:</strong> Gee, this was lots of questions. Big picture: what gets publicly filed is very limited and does not give very much insight into what we are doing. We have many different funds with different ownership structures and that have different filing obligations. For example, we manage some long/short quantitative strategies where only the long side is subject to filing under certain circumstances. Some of our funds have allocations to sub-managers who occasionally make distributions in kind that are subject to filing (so securities we did not choose directly) and some funds hold investments not subject to filing requirements. So, looking at 13F’s or other public documents only provides a very narrow perspective into what we are doing and may often give very confusing or an incomplete view of the overall picture.</p> <p><strong>Question 10.</strong> Could you share your thinking about the relationship among long-term earnings stability, long-term ROE/ROIC and valuation levels (PE, PS)? How do you think about the dynamics of these three variables when valuating a company? (grol1971)</p> <p><strong>JG:</strong> When doing in depth analysis of companies, I care very much about long term earnings power, not necessarily so much about the volatility of that earnings power but about my certainty of “normal” earnings power over time. My goal is to buy a company at a low multiple to normal earnings power several years out and that the company earns good returns on capital at that level of normal earnings.</p> <p><strong>Question 17.</strong> Because free cash flow growth requires not only high returns on capital but also a reinvestment opportunity, have you explored adding a criterion to the screen that would indicate the presence of a significant opportunity for reinvestment? (jdt)</p> <p><strong>JG:</strong> I think this is a great question. The big picture is: the main thing you should be concerned about in the future are incremental returns on capital going forward. As it turns out, past history of a good return on capital is a good proxy for this but obviously not foolproof. I think this is an area where thoughtful analysis can add value to any simple ranking/screening strategy such as the magic formula. But keep in mind, buying a diversified portfolio of companies who have achieved high returns on capital in the past and that can be purchased at bargain prices has worked quite powerfully, buying an individual company without further analysis of this issue is another story.</p> <p style="text-align: center;"><a href="http://www.gurufocus.com/news.php?id=59450"><strong>Click Here To Read A Q/A With Super Investor Joel GreenBlatt</strong></a></p>

Posted by Miguel on July 02, 2009 08:00 AM · permalink

  <p>I agree with Taleb, wonderful things happen when you tinker around&#8230;.apparently this is also an important aspect of child education.</p> <h3>About this talk</h3> <p id="tagline">Gever Tulley uses engaging photos and footage to demonstrate the valuable lessons kids learn at his Tinkering School. When given tools, materials and guidance, these young imaginations run wild and creative problem-solving takes over to build unique boats, bridges and even a rollercoaster!</p> <h3>About Gever Tulley</h3> <p>The founder of the Tinkering School, Gever Tulley likes to build things with kids.</p> <p><strong><a href="http://www.ted.com/talks/gever_tulley_s_tinkering_school_in_action.html">Watch The Video Below Or Click Here For Our Rss Subscribers </a></strong><br /> <object width="446" height="326" data="http://video.ted.com/assets/player/swf/EmbedPlayer.swf" type="application/x-shockwave-flash"><param name="allowFullScreen" value="true" /><param name="wmode" value="transparent" /><param name="bgColor" value="#ffffff" /><param name="flashvars" value="vu=http://video.ted.com/talks/embed/GeverTulley_2009-embed_high.flv&amp;su=http://images.ted.com/images/ted/tedindex/embed-posters/GeverTulley-2009.embed_thumbnail.jpg&amp;vw=432&amp;vh=240&amp;ap=0&amp;ti=588" /><param name="src" value="http://video.ted.com/assets/player/swf/EmbedPlayer.swf" /><param name="bgcolor" value="#ffffff" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on July 02, 2009 07:00 AM · permalink

  <p>I&#8217;m really impressed with SubsidyScope.com.  The Pew Charitable Trusts have really put together a brilliant website.</p> <p><strong>Introduction (Via SubsidyScope)</strong></p> <p>The estimated subsidy rate for transactions made under the Troubled Asset Relief Program has risen by 4 percent, according to a recent report by the Congressional Budget Office. In January, the CBO estimated the subsidy rate – the percentage of the initial TARP disbursement that reflects the true cost to the federal government of purchasing shares of stock from financial institutions – to be 32 percent, based on $293 billion in transactions. In a June 17 report, the CBO subsidy rate estimate rose to 36 percent, based on $439 billion in transactions. The new estimate includes assistance to the auto industry and $70 billion in repayments by TARP recipients.</p> <p><strong><a style="margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block; text-decoration: underline;" title="View null on Scribd" href="http://www.scribd.com/doc/16922424/null">Click Here For The TARP: Report on Transactions Through June 17, 2009</a></strong> <object width="372" height="502" data="http://d.scribd.com/ScribdViewer.swf?document_id=16922424&amp;access_key=key-2g3zqgiqhgsol2ld9ngp&amp;page=1&amp;version=1&amp;viewMode=" type="application/x-shockwave-flash"><param name="id" value="doc_968365481297410" /><param name="name" value="doc_968365481297410" /><param name="align" value="middle" /><param name="quality" value="high" /><param name="play" value="true" /><param name="loop" value="true" /><param name="scale" value="showall" /><param name="wmode" value="opaque" /><param name="devicefont" value="false" /><param name="bgcolor" value="#ffffff" /><param name="menu" value="true" /><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><param name="src" value="http://d.scribd.com/ScribdViewer.swf?document_id=16922424&amp;access_key=key-2g3zqgiqhgsol2ld9ngp&amp;page=1&amp;version=1&amp;viewMode=" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on July 02, 2009 06:09 AM · permalink

  <p>This is post is dedicated to several VC friends who are interested in energy related topics</p> <p><strong>Introduction (Via Fora.Tv)</strong></p> <p>In this session presenters discuss the emergence of unconventional oil and gas resources.</p> <p><strong>Panelist Backgrounds (Via Fora.TV)</strong></p> <p>1. Peter Balash - Peter C. Balash, Ph.D., is senior economist at the United States Department of Energy&#8217;s National Energy Technology Laboratory (NETL), in Pittsburgh, Pennsylvania. He has followed energy markets, energy security, and technology issues for NETL since 2002, focusing on the interaction of upstream fuel market developments with downstream, or end-use, sectors.</p> <p>2. Frits Eulderink - Frits Eulderink began his career with Shell in 1990. He spent a portion of his initial assignment working in the United States on Coal Gasification at the Westhollow Research Center and the Deer Park facility in Houston, Texas.</p> <p>3. Gordon Pickering - Gordon Pickering, Navigant Consulting, Inc., is a Director in NCI&#8217;s Fuels Analysis practice, in Sacramento, CA. He has over 28 years of energy industry experience, mostly in the natural gas industry in the United States and Canada. Throughout his career, Mr. Pickering has worked closely with the electric generation sector as a natural gas marketer and commodity services supplier and most recently as a consultant.</p> <p>4. Andre Plourde - Andre Plourde is Professor and Chair, Department of Economics, University of Alberta. He received his B.A. and M.A. in Economics from the University of New Brunswick, and a Ph.D. in Economics from the University of British Columbia</p> <p>5. John Wimer - Mr. Wimer has worked at the U.S. Department of Energy&#8217;s National Energy Technology Laboratory for eighteen years, providing engineering support to DOE&#8217;s Fossil Energy research and development programs, primarily in the areas of advanced coal conversion technologies. Presently, Mr. Wimer is the director of NETL&#8217;s Systems Division, which performs technology evaluation, systems engineering and economic analyses to inform policy makers and to guide NETL&#8217;s R&amp;D programs.</p> <p><a href="http://fora.tv/2009/06/23/IAEE_Conference_Unconventional_Oil_and_Gas_Resources"><strong>Watch The Video Below Or Click Here For Our Email/Rss Subscribers</strong></a></p> <p><object width="400" height="264" data="http://fora.tv/embedded_player" type="application/x-shockwave-flash"><param name="flashvars" value="webhost=fora.tv&amp;clipid=9706&amp;cliptype=full" /><param name="allowScriptAccess" value="always" /><param name="allowFullScreen" value="true" /><param name="src" value="http://fora.tv/embedded_player" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on July 02, 2009 05:00 AM · permalink

  <p>Have you ever wondered how much weekly time is spent on different online applications ?</p> <p><strong>Click On The Image For A Larger Version</strong><br /> <a href="http://www.techcrunch.com/wp-content/uploads/2009/04/picture-315.png"><img class="alignnone" src="http://www.techcrunch.com/wp-content/uploads/2009/04/picture-315.png" alt="" width="526" height="392" /></a></p>

Posted by Miguel on July 02, 2009 04:00 AM · permalink

  Bulls live above 200 dma whereas Bears live below it. When a stock after long time moves past 200 dma, ideally the stock holds that level for a good period of time. Can we make such case for 18 group companies? The 3 charts that I have chosen today are IBN 18 Network 18 TV 18 Let us [...]

Posted by Deepak Singh on July 02, 2009 03:47 AM · permalink

  <p>My friends over at The manual of ideas ( I recommend subscribing to their online investor services) have recently put together a list of interesting inflation arguments. Enjoy!</p> <p><a style="margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block; text-decoration: underline;" title="View Notable Statements on Inflation, 2009 on Scribd" href="http://www.scribd.com/doc/16885539/Notable-Statements-on-Inflation-2009">Notable Statements on Inflation, 2009</a> <object width="420" height="502" data="http://d.scribd.com/ScribdViewer.swf?document_id=16885539&amp;access_key=key-2a6ym0np608haie8r9p2&amp;page=1&amp;version=1&amp;viewMode=" type="application/x-shockwave-flash"><param name="id" value="doc_501628624568274" /><param name="name" value="doc_501628624568274" /><param name="align" value="middle" /><param name="quality" value="high" /><param name="play" value="true" /><param name="loop" value="true" /><param name="scale" value="showall" /><param name="wmode" value="opaque" /><param name="devicefont" value="false" /><param name="bgcolor" value="#ffffff" /><param name="menu" value="true" /><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><param name="src" value="http://d.scribd.com/ScribdViewer.swf?document_id=16885539&amp;access_key=key-2a6ym0np608haie8r9p2&amp;page=1&amp;version=1&amp;viewMode=" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on July 02, 2009 03:00 AM · permalink

  The market will go where it wants to go. There is no point guessing something which cannot be guessed This is members only section. Today, I have published it for everyone. Introduction Market is moving up one day, down another day. It is really making life difficult for traders. In this market environment, most of [...]

Posted by Deepak Singh on July 02, 2009 02:50 AM · permalink

  <p>Interesting paper on the financial crisis, developing countries, and financial challenges.</p> <p style="text-align: center;"><a href="http://www.piie.com/publications/papers/print.cfm?doc=pub&amp;ResearchID=1240"><strong>Click Here T0 Read About The Global Financial Crisis: Lessons Learned and Challenges for Developing Countries</strong></a></p> <p><strong>Introduction (Via PIIE.com)</strong></p> <p>Almost two years ago, the global economy and financial system entered a severe crisis. The incidence and ramifications of the crisis were obscure. Even now, the full dimensions and consequences are not known, but almost certainly this crisis will prove to be the most severe in the extent and severity of its global impact and depth since the end of World War II. Because the crisis is not yet over, among other reasons, we lack the perspective to develop a full catalog of the lessons from the crisis, either in general or for developing countries in particular. However, I thank the Banco de Guatemala for inviting me to share my thoughts on this important and complex subject from the vantage point of June 2009.</p> <p>In these remarks, I first offer my perspective on the causes of this crisis and how this crisis differs from previous global financial crises. This is a necessary precondition to learning the appropriate lessons from the crisis. Otherwise our lessons will be off-target or incomplete. Second, I offer some key relevant lessons under five headings: too good to be true is probably false; be better prepared; the myth of self-insurance; the role of the International Monetary Fund (IMF); and the future of globalization.</p> <p><strong>Excerpts (Via PIIE.com)</strong></p> <p>Benign conditions lead to lax lending standards, just as the night follows the day. In principle, financial-sector supervision could have helped to curb the excesses, but it did not do so in the United States or in many other countries around the world.</p> <p>Part of the overall picture was new forms of financial engineering, but innovations have been a feature of domestic and international finance for decades. In many cases, the associated innovations were poorly understood, resulting in a failure of risk recognition, which is a necessary precondition for good risk management. Financial engineering contributed to the market dynamics once the crisis got underway, but it was not &#8220;the cause&#8221; of the crisis.</p> <p style="text-align: center;"><a href="http://www.piie.com/publications/papers/print.cfm?doc=pub&amp;ResearchID=1240"><strong>Click Here T0 Read About The Global Financial Crisis: Lessons Learned and Challenges for Developing Countries</strong></a></p>

Posted by Miguel on July 02, 2009 02:00 AM · permalink

  <p>I recommend reading &amp; listening to Shirky&#8217;s advice. This talk is about <a href="http://isbn.nu/978-1594201530"><strong><em>The Power of Organizing Without Organizations</em></strong></a>.</p> <p><strong>Background On Clay Shirky (Via Wikipedia)</strong></p> <p>Mr. Shirky is an American writer, consultant and teacher on the social and economic effects of Internet technologies. He teaches <span class="mw-redirect">New Media</span> as an adjunct professor at New York University&#8217;s (NYU) graduate <span class="mw-redirect">Interactive Telecommunications Program</span> (ITP). His courses address, among other things, the interrelated effects of the topology of social networks and technological networks, how our networks shape culture and vice-versa. He has written and been interviewed extensively about the Internet since 1996. His columns and writings have appeared in <em>Business 2.0</em>, the <em><span class="mw-redirect">New York Times</span></em>, the <em><span class="mw-redirect">Wall Street Journal</span></em>, the <em>Harvard Business Review</em> and <em><span class="mw-redirect">Wired</span></em>.</p> <p><a href="http://www.google.com/url?sa=t&amp;source=web&amp;ct=res&amp;cd=1&amp;url=http%3A%2F%2Fwww.shirky.com%2F&amp;ei=e8hLSrnNHInwMdmr8LcC&amp;rct=j&amp;q=clay+shirky&amp;usg=AFQjCNH6tHeh9Y5S9hMZRpc3G7JcdD6FEw&amp;sig2=yU220_qlPJKWNIM4RLQv6A">Shirky&#8217;s Homepage</a></p> <p><strong><a href="http://www.ideasproject.com/content.webui?id=4000">Watch The Video Below Or Click Here For Our Rss Subscribers (Video Accessed Via IP)</a></strong><br /> <object width="425" height="344" data="http://www.youtube.com/v/A_0FgRKsqqU&amp;rel=0&amp;color1=0xb1b1b1&amp;color2=0xcfcfcf&amp;hl=en&amp;feature=player_embedded&amp;fs=1" type="application/x-shockwave-flash"><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><param name="src" value="http://www.youtube.com/v/A_0FgRKsqqU&amp;rel=0&amp;color1=0xb1b1b1&amp;color2=0xcfcfcf&amp;hl=en&amp;feature=player_embedded&amp;fs=1" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on July 02, 2009 01:00 AM · permalink

  <p>Why am I such a sucker for these papers!</p> <p style="text-align: center;"><a href="http://journal.sjdm.org/06143/jdm06143.htm"><strong>Click Here To Learn About Individual Susceptibility To Anchoring Effects</strong></a></p> <p><strong>Abstract (Via Todd McElroy and Keith Dowd</strong><strong> @ JDM)</strong></p> <p>Previous research on anchoring has shown this heuristic to be a very robust psychological phenomenon ubiquitous across many domains of human judgment and decision-making. Despite the prevalence of anchoring effects, researchers have only recently begun to investigate the underlying factors responsible for how and in what ways a person is susceptible to them. This paper examines how one such factor, the Big-Five personality trait of openness-to-experience, influences the effect of previously presented anchors on participants&#8217; judgments. Our findings indicate that participants high in openness-to-experience were significantly more influenced by anchoring cues relative to participants low in this trait. These findings were consistent across two different types of anchoring tasks providing convergent evidence for our hypothesis.</p> <p><strong>Introduction </strong><strong>(Via Todd McElroy and Keith Dowd</strong><strong> @</strong><strong> JDM)</strong></p> <p>The anchoring effect (e.g., Lichtenstein &amp; Slovic, 1971; Tversky &amp; Kahneman, 1974; Wilson, Houston, Etling, &amp; Brekke, 1996) refers to the adjustment of one&#8217;s assessment, higher or lower, based upon previously presented external information or an &#8220;anchor.&#8221; The anchoring heuristic appears to be prevalent throughout human decision processes and has been shown to reliably influence judgments in a variety of domains including probability estimates (Plous, 1989; Tversky n&amp; Kahneman, 1974), negotiation (Neale &amp; Bazerman, 1991; Ritov, 1996), legal judgments (Chapman &amp; Bornstein, 1996), and general knowledge (Chapman &amp; Johnson, 1999; Jacowitz &amp; Kahnman, 1995; Wilson, Houston, Etling, &amp; Brekke, 1996). Further, anchoring effects appear viable across most situations for both novices and experts (Northcraft &amp; Neale, 1987) and seem to be effective under conditions of monetary incentives (Chapman &amp; Johnson, 1999; Wilson, Houston, Etling, &amp; Brekke, 1996; Wright &amp; Anderson, 1989) and in real-world settings (Northcraft &amp; Neale, 1987; Cervone &amp; Peak, 1986).</p> <p><strong>Excerpt (Via</strong><strong> Todd McElroy and Keith Dowd</strong><strong> @</strong><strong> JDM)</strong></p> <p>Anchoring thus appears to be a very robust psychological phenomenon. However, not all individuals may be equally influenced by anchoring cues. Identification of factors that influence how and in what ways a person is susceptible to this heuristic should further the understanding of the process. One avenue of approach is to investigate the role of individual difference factors.</p> <p style="text-align: center;"><a href="http://journal.sjdm.org/06143/jdm06143.htm"><strong>Click Here To Learn About Individual Susceptibility To Anchoring Effects</strong></a></p>

Posted by Miguel on July 02, 2009 12:00 AM · permalink

  <p>In depth look at the The Six-Step Rational Decision-Making Model. Enjoy!</p> <p><strong>Overview of the model</strong></p> <p>Step 1. Define The Problem</p> <p>Step 2. Identify The Decision Criteria</p> <p>Step 3. Weight The Criteria</p> <p>Step 4. Generate Alternatives</p> <p>Step 5. Rate Each Alternative On Each Criteria</p> <p>Step 6. Compute Optimal Decision</p> <p><a style="margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block; text-decoration: underline;" title="View The Six-Step Rational Decision-Making Model on Scribd" href="http://www.scribd.com/doc/906096/The-SixStep-Rational-DecisionMaking-Model">The Six-Step Rational Decision-Making Model</a> <object width="413" height="502" data="http://d.scribd.com/ScribdViewer.swf?document_id=906096&amp;access_key=key-17b89tdcwyol7ax68p6a&amp;page=1&amp;version=1&amp;viewMode=" type="application/x-shockwave-flash"><param name="id" value="doc_700581796587209" /><param name="name" value="doc_700581796587209" /><param name="align" value="middle" /><param name="quality" value="high" /><param name="play" value="true" /><param name="loop" value="true" /><param name="scale" value="showall" /><param name="wmode" value="opaque" /><param name="devicefont" value="false" /><param name="bgcolor" value="#ffffff" /><param name="menu" value="true" /><param name="allowFullScreen" value="true" /><param name="allowScriptAccess" value="always" /><param name="src" value="http://d.scribd.com/ScribdViewer.swf?document_id=906096&amp;access_key=key-17b89tdcwyol7ax68p6a&amp;page=1&amp;version=1&amp;viewMode=" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on July 01, 2009 11:05 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/44BkuaL25CVxdRAYGl1A6FuzLXY/0/da"><img src="http://feedads.g.doubleclick.net/~a/44BkuaL25CVxdRAYGl1A6FuzLXY/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/44BkuaL25CVxdRAYGl1A6FuzLXY/1/da"><img src="http://feedads.g.doubleclick.net/~a/44BkuaL25CVxdRAYGl1A6FuzLXY/1/di" border="0" ismap="true"></img></a></p><p>Glodyne Technoserve informed the market that the Board of Directors of the Company at its meeting held on June 30, 2009,has recommended 1:1 Bonus, this is the maiden bonus issue for Glodyne and the market respected it well , the stock closed today at upper circuit.They have also declared a dividend of 4.2 Rs per share.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Fglodyne-technoserv-maiden-bonus-issue-and-dividend-info%2F'; addthis_title = 'Glodyne+Technoserv+Maiden+Bonus+Issue+and+Dividend+info'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/45L8hlYnZ6I" height="1" width="1"/>

Posted by admin on July 01, 2009 05:13 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/zf0Fz6K-Gv8q6tUgrz5A-jsKRx0/0/da"><img src="http://feedads.g.doubleclick.net/~a/zf0Fz6K-Gv8q6tUgrz5A-jsKRx0/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/zf0Fz6K-Gv8q6tUgrz5A-jsKRx0/1/da"><img src="http://feedads.g.doubleclick.net/~a/zf0Fz6K-Gv8q6tUgrz5A-jsKRx0/1/di" border="0" ismap="true"></img></a></p><p>Larsen Toubro informed the market that it has bagged 2 orders for 651 crore .<br /> <strong>Order Details</strong></p> <blockquote><p>>One of the two orders valued at Rs 440 crore is for construction work for a green field refinery project at Bhatinda being set up by HPCL-Mittal Energy.<br /> >Second order valued at Rs 211 crore is from Engineers India for the supply and construction of a reactor and regenerator systems.</p></blockquote> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Flarsen-toubro-bags-order-worth-651-crores%2F'; addthis_title = 'Larsen+Toubro+bags+order+worth+651+crores'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/5z0bi0UYCj0" height="1" width="1"/>

Posted by admin on July 01, 2009 05:08 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/NMhf6AVhzcgc5zyy_LcG-n9-Rpc/0/da"><img src="http://feedads.g.doubleclick.net/~a/NMhf6AVhzcgc5zyy_LcG-n9-Rpc/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/NMhf6AVhzcgc5zyy_LcG-n9-Rpc/1/da"><img src="http://feedads.g.doubleclick.net/~a/NMhf6AVhzcgc5zyy_LcG-n9-Rpc/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (IANS) Just five days before the union budget is to be presented, India Wednesday allowed state-run oil firms to increase prices of transport fuels, resulting in gasoline becoming dearer by Rs.4 per litre and diesel by Rs.2 per litre, following successive increase in global crude prices.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Findia-hikes-gasoline-diesel-prices-leaves-cooking-fuels-untouched-2%2F'; addthis_title = 'India+hikes+gasoline%2C+diesel+prices%2C+leaves+cooking+fuels+untouched'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/ktXzqr0V3e8" height="1" width="1"/>

Posted by admin on July 01, 2009 04:10 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/HF0xnscv23UW783tnkBMMRgmQKk/0/da"><img src="http://feedads.g.doubleclick.net/~a/HF0xnscv23UW783tnkBMMRgmQKk/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/HF0xnscv23UW783tnkBMMRgmQKk/1/da"><img src="http://feedads.g.doubleclick.net/~a/HF0xnscv23UW783tnkBMMRgmQKk/1/di" border="0" ismap="true"></img></a></p><p>Thiruvananthapuram, July 1 (IANS) Kerala Chief Minister V.S. Achuthanandan Wednesday demanded that the central government immediately withdraw the hike in petrol and diesel prices and provide relief to the common people.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Fwithdraw-fuel-price-hike-achuthanandan%2F'; addthis_title = 'Withdraw+fuel+price+hike%3A+Achuthanandan'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/pqrDDoDnvfs" height="1" width="1"/>

Posted by admin on July 01, 2009 04:06 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/VW6OLEZKbWy5ImQYDNfhVkVr52g/0/da"><img src="http://feedads.g.doubleclick.net/~a/VW6OLEZKbWy5ImQYDNfhVkVr52g/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/VW6OLEZKbWy5ImQYDNfhVkVr52g/1/da"><img src="http://feedads.g.doubleclick.net/~a/VW6OLEZKbWy5ImQYDNfhVkVr52g/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (IANS) India Inc Wednesday welcomed the government&#39;s decision to raise fuel prices, saying the move would help oil companies reduce their huge subsidy burden.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Findia-inc-welcomes-petrol-price-hike%2F'; addthis_title = 'India+inc+welcomes+petrol+price+hike'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/yTs2y0ZVBe4" height="1" width="1"/>

Posted by admin on July 01, 2009 03:43 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/VyU98-Dh9IIfmJ0XgxmNPd0zxds/0/da"><img src="http://feedads.g.doubleclick.net/~a/VyU98-Dh9IIfmJ0XgxmNPd0zxds/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/VyU98-Dh9IIfmJ0XgxmNPd0zxds/1/da"><img src="http://feedads.g.doubleclick.net/~a/VyU98-Dh9IIfmJ0XgxmNPd0zxds/1/di" border="0" ismap="true"></img></a></p><p>Tech Mahindra&#39;s public offer to acquire an additional stake in Mahindra Satyam ended on Wednesday, and analysts said the offer would have received a poor response due to a spike in the share price of the fraud-hit outsourcer.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Ftech-mahindras-open-offer-for-satyam-ends%2F'; addthis_title = 'Tech+Mahindra%26%238217%3Bs+open+offer+for+Satyam+ends'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/_0HhjmwIbtM" height="1" width="1"/>

Posted by admin on July 01, 2009 03:24 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/iVBC1J-E7DmgY4shpzU4gr_KvG4/0/da"><img src="http://feedads.g.doubleclick.net/~a/iVBC1J-E7DmgY4shpzU4gr_KvG4/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/iVBC1J-E7DmgY4shpzU4gr_KvG4/1/da"><img src="http://feedads.g.doubleclick.net/~a/iVBC1J-E7DmgY4shpzU4gr_KvG4/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (IANS) The three Indian Air Force (IAF) choppers carrying President Pratibha Patil and her entourage had landed without clearance even as an Air India aircraft was readying for take off, an investigation into the near-collision at Mumbai airport has found.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Fiaf-pilots-blamed-for-near-collision-at-mumbai-airport%2F'; addthis_title = 'IAF+pilots+blamed+for+near-collision+at+Mumbai+airport'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/L0s4jEnGC-E" height="1" width="1"/>

Posted by admin on July 01, 2009 03:14 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/vi5BLffOrQXzmNfs1SCY2nrk920/0/da"><img src="http://feedads.g.doubleclick.net/~a/vi5BLffOrQXzmNfs1SCY2nrk920/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/vi5BLffOrQXzmNfs1SCY2nrk920/1/da"><img src="http://feedads.g.doubleclick.net/~a/vi5BLffOrQXzmNfs1SCY2nrk920/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (IANS) The Municipal Corporation of Delhi (MCD) Wednesday said the discovery of thousands of bogus employees in the civic body was made possible due to biometric attendance systems.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Fwhat-unearthed-mcds-fake-employees-scandal%2F'; addthis_title = 'What+unearthed+MCD%26%238217%3Bs+fake+employees+scandal'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/NztO-95CKsg" height="1" width="1"/>

Posted by admin on July 01, 2009 03:07 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/1qUj3Qm_iy2sj6WZ3e6FgxRLa1w/0/da"><img src="http://feedads.g.doubleclick.net/~a/1qUj3Qm_iy2sj6WZ3e6FgxRLa1w/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/1qUj3Qm_iy2sj6WZ3e6FgxRLa1w/1/da"><img src="http://feedads.g.doubleclick.net/~a/1qUj3Qm_iy2sj6WZ3e6FgxRLa1w/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (IANS) Common people and opposition parties alike sharply criticised the government for the hike in the petrol and diesel prices announced Wednesday evening.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Fcommon-people-opposition-sore-over-fuel-price-hike%2F'; addthis_title = 'Common+people%2C+opposition+sore+over+fuel+price+hike'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/yciTSqn9qpo" height="1" width="1"/>

Posted by admin on July 01, 2009 03:01 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/1UEgObm7P2NCc2FvJFrDgEN1s-o/0/da"><img src="http://feedads.g.doubleclick.net/~a/1UEgObm7P2NCc2FvJFrDgEN1s-o/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/1UEgObm7P2NCc2FvJFrDgEN1s-o/1/da"><img src="http://feedads.g.doubleclick.net/~a/1UEgObm7P2NCc2FvJFrDgEN1s-o/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (IANS) India Wednesday inked an agreement with Lesotho to provide online education to students of the southern African country, the government said in a statement.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Findia-to-provide-online-education-to-students-in-lesotho%2F'; addthis_title = 'India+to+provide+online+education+to+students+in+Lesotho'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/FkLbjGSO7do" height="1" width="1"/>

Posted by admin on July 01, 2009 02:48 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/y7Vxjsx4cj3N7DtV2n1OV9MqGOM/0/da"><img src="http://feedads.g.doubleclick.net/~a/y7Vxjsx4cj3N7DtV2n1OV9MqGOM/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/y7Vxjsx4cj3N7DtV2n1OV9MqGOM/1/da"><img src="http://feedads.g.doubleclick.net/~a/y7Vxjsx4cj3N7DtV2n1OV9MqGOM/1/di" border="0" ismap="true"></img></a></p><p>Chennai, July 1 (IANS) Automobile manufacturer Mahindra and Mahindra (M and M) Wednesday said its tractor sales jumped 52 percent last month to 18,243 units from 12,008 units sold in the like period last year.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Fmahindras-tractor-sales-up-52-percent-in-june%2F'; addthis_title = 'Mahindra%26%238217%3Bs+tractor+sales+up+52+percent+in+June'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/a_Sqww0ZuA4" height="1" width="1"/>

Posted by admin on July 01, 2009 02:47 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/AeHWBIERoVGo377oGVEj0oS5Nio/0/da"><img src="http://feedads.g.doubleclick.net/~a/AeHWBIERoVGo377oGVEj0oS5Nio/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/AeHWBIERoVGo377oGVEj0oS5Nio/1/da"><img src="http://feedads.g.doubleclick.net/~a/AeHWBIERoVGo377oGVEj0oS5Nio/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (ANI): The Centre on Wednesday announced a rise in the price of petrol and diesel by Rs. 4 and Rs.2 per litre, respectively.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Fpetrol-prices-hiked-by-rs-4-a-litre-diesel-up-rs-2%2F'; addthis_title = 'Petrol+prices+hiked+by+Rs.+4+a+litre%3B+diesel+up+Rs.+2'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/LKFu1U6RVMw" height="1" width="1"/>

Posted by admin on July 01, 2009 02:10 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/LWoEfbH4eOeI8RmnD2g63vd0HzU/0/da"><img src="http://feedads.g.doubleclick.net/~a/LWoEfbH4eOeI8RmnD2g63vd0HzU/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/LWoEfbH4eOeI8RmnD2g63vd0HzU/1/da"><img src="http://feedads.g.doubleclick.net/~a/LWoEfbH4eOeI8RmnD2g63vd0HzU/1/di" border="0" ismap="true"></img></a></p><p>Mumbai, July 1 (IANS) International hotel chain Accor Wednesday opened Novotel Mumbai Juhu Beach here, its third under the Novotel brand after Novotel Hyderabad Airport and Novotel Hyderabad.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Faccor-opens-hotel-under-novotel-brand-in-mumbai%2F'; addthis_title = 'Accor+opens+hotel+under+Novotel+brand+in+Mumbai'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/37nqgeaH42E" height="1" width="1"/>

Posted by admin on July 01, 2009 02:06 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/VE9EjSUrj970PZecYHXm1QbIvHA/0/da"><img src="http://feedads.g.doubleclick.net/~a/VE9EjSUrj970PZecYHXm1QbIvHA/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/VE9EjSUrj970PZecYHXm1QbIvHA/1/da"><img src="http://feedads.g.doubleclick.net/~a/VE9EjSUrj970PZecYHXm1QbIvHA/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (IANS) India Wednesday allowed state-run oil firms to increase prices of transport fuels, resulting in gasoline becoming dearer by Rs.4 per litre and diesel by Rs.2 per litre, following successive increase in global crude prices.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Findia-hikes-gasoline-diesel-prices-leaves-cooking-fuels-untouched%2F'; addthis_title = 'India+hikes+gasoline%2C+diesel+prices%2C+leaves+cooking+fuels+untouched'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/hEl2ISFWCtY" height="1" width="1"/>

Posted by admin on July 01, 2009 01:48 PM · permalink

  <p><a href="http://feedads.g.doubleclick.net/~a/lmGr3xdksGHQE0GXqztRJp8_FJU/0/da"><img src="http://feedads.g.doubleclick.net/~a/lmGr3xdksGHQE0GXqztRJp8_FJU/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/lmGr3xdksGHQE0GXqztRJp8_FJU/1/da"><img src="http://feedads.g.doubleclick.net/~a/lmGr3xdksGHQE0GXqztRJp8_FJU/1/di" border="0" ismap="true"></img></a></p><p>New Delhi, July 1 (IANS) The government has decided to defer its policy to privatise ground services like passenger check-ins and baggage handling at airports following protests by the staff of state-run Air India and the Airports Authority of India.</p> <script type="text/javascript"> addthis_url = 'http%3A%2F%2Fwww.rupya.com%2F2009%2F07%2F01%2Findia-defers-policy-to-privatise-ground-services-at-airports%2F'; addthis_title = 'India+defers+policy+to+privatise+ground+services+at+airports'; addthis_pub = ''; </script><script type="text/javascript" src="http://s7.addthis.com/js/addthis_widget.php?v=12" ></script> <p>Post from: <a href="http://www.rupya.com">First Blog for Indian Financial Market</a></p> <img src="http://feeds.feedburner.com/~r/Stocks/~4/5mVYtLSMJt4" height="1" width="1"/>

Posted by admin on July 01, 2009 01:38 PM · permalink

  <p>Although the Indian markets witnessed some volatility during the previous hour, they managed to end the day well above yesterday&rsquo;s closing level. The BSE-Sensex ended with gains of about 150 points, while the NSE-Nifty ended higher by about 50 points. Stocks from the mid-cap and small-cap spaces ended the day on a positive note as well, recording gains of 1% and 0.3% respectively. Apart from stocks from the consumer durables space, buying activity was witnessed in stocks across the board, led by the realty, banking and auto spaces.</p><p>Most of the other Asian markets ended the day on a firm note today. The European indices are currently trading in the green as well. Rupee was trading at 48.00 against the US dollar at the time of writing.</p>

Posted by Equitymaster on July 01, 2009 11:42 AM · permalink

  Stocks of the sector move together. June has been mixed month for market as a whole. Let us scratch the surface and look at individual sectors to spot performance and underperformance. Sectoral Performance for the month of June Sectoral Observations Capital Goods was the best performing sector in the month of June. Real Estate continues to be [...]

Posted by Deepak Singh on July 01, 2009 04:25 AM · permalink

  <p>This interview was conducted in 1996. If you&#8217;re a fan of James Grant please take the time to read this.</p> <p>*Found this article via Value Investing World (Great Find Joe)</p> <p style="text-align: center;"><a href="http://mises.org/journals/aen/aen16_4_1.asp"><strong>Click Here To Read About Mises Interviewing James Grant</strong></a></p> <p><strong>Introduction (Via Mises.Org)</strong></p> <p><strong>AEN</strong>: Your argument about business cycles in <em>The Trouble with Prosperity</em> rests heavily on the work of the Austrian economist Wilhelm Röpke instead of the more well-known Austrians.</p> <p><strong>GRANT</strong>: I am an observer of the contemporary scene, a journalist, rather than a theorist. I picked up Austrian economics almost everywhere except in school. It came to me, and I to it, in the way that the Austrians say that so many good things happen, that is, by accident, rather than by design.</p> <p>Over the years I read Mises, Hayek, Rothbard, and others on interest rates, capital, and the business cycle. I&#8217;ve long been inspired by Henry Hazlitt&#8217;s career, someone who wrote as well as he did, and as long. To think that this man professed the ideas he did in the pages of the mainstream press is certainly startling and revelatory.</p> <p>I chose to feature Röpke because of his book <em>Crises and Cycles</em>, which appeared in English during the Great Depression. He offers a clear and forceful exposition of the mechanics of the Austrian interest-rate and business-cycle model, and the very difficult but rewarding structure of the theory itself. Vera Smith must have done a great job in translating the work. By the way, I recommend Vera Smiths book <em>The Rationale of Central Banking</em> as a further elucidation on Röpke&#8217;s already clear theory. I know there are all sorts of holes in my bibliography; there might be better and more faithful explanations than Röpke offers. But I really do recommend this to people for its simplicity.</p> <p style="text-align: center;"><a href="http://mises.org/journals/aen/aen16_4_1.asp"><strong>Click Here To Read About Mises Interviewing James Grant</strong></a></p>

Posted by Miguel on July 01, 2009 03:05 AM · permalink

  There is no excerpt because this is a protected post.

Posted by Deepak Singh on July 01, 2009 03:04 AM · permalink

  <p>This interview was conducted in 1996 and it is worth taking the time to read.</p> <p style="text-align: center;">(Found this  interview via Value Investing World awesome find Joe&#8230;)</p> <p style="text-align: center;"><strong><a href="http://mises.org/journals/aen/aen16_4_1.asp">Click Here To Read The Mises Institute Interviewing James Grant</a></strong></p> <p><strong>Introduction (Via Mises.org)</strong></p> <p><strong>AEN</strong>: Your argument about business cycles in <em>The Trouble with Prosperity</em> rests heavily on the work of the Austrian economist Wilhelm Röpke instead of the more well-known Austrians.</p> <p><strong>GRANT</strong>: I am an observer of the contemporary scene, a journalist, rather than a theorist. I picked up Austrian economics almost everywhere except in school. It came to me, and I to it, in the way that the Austrians say that so many good things happen, that is, by accident, rather than by design.</p> <p>Over the years I read Mises, Hayek, Rothbard, and others on interest rates, capital, and the business cycle. I&#8217;ve long been inspired by Henry Hazlitt&#8217;s career, someone who wrote as well as he did, and as long. To think that this man professed the ideas he did in the pages of the mainstream press is certainly startling and revelatory.</p> <p>I chose to feature Röpke because of his book <em>Crises and Cycles</em>, which appeared in English during the Great Depression. He offers a clear and forceful exposition of the mechanics of the Austrian interest-rate and business-cycle model, and the very difficult but rewarding structure of the theory itself. Vera Smith must have done a great job in translating the work. By the way, I recommend Vera Smiths book <em>The Rationale of Central Banking</em> as a further elucidation on Röpke&#8217;s already clear theory. I know there are all sorts of holes in my bibliography; there might be better and more faithful explanations than Röpke offers. But I really do recommend this to people for its simplicity.</p> <p style="text-align: center;"><strong><a href="http://mises.org/journals/aen/aen16_4_1.asp">Click Here To Read The Mises Institute Interviewing James Grant</a></strong></p>

Posted by Miguel on July 01, 2009 03:02 AM · permalink

  <p>Very interesting piece on IQ scores, intelligence, public education and much more&#8230;..</p> <p>Note Joe Koster &amp; Farnam Street you will enjoy this article. <img src='http://www.simoleonsense.com/wp-includes/images/smilies/icon_smile.gif' alt=':)' class='wp-smiley' /> </p> <p style="text-align: center;"><a href="http://www.americanscientist.org/bookshelf/pub/the-domestication-of-the-savage-mind"><strong>Click Here To Learn About Intelligence &amp; The Flynn Effect</strong></a></p> <p><strong>I</strong><strong>ntroduction (Via American Scientist)</strong></p> <p>James Flynn is best known for having discovered a stubborn fact. In a series of papers culminating in the classic 1987 article “Massive IQ Gains in 14 Nations: What IQ Tests Really Measure,” he established that in every country where consistent IQ tests have been given to large numbers of people over time, scores have been rising as far back as the records go, in some cases to the early 20th century. <em>What Is Intelligence?</em> is Flynn’s attempt to explain this phenomenon, now known as the Flynn effect.</p> <p><strong>Excerpts (Via American Scientist)</strong></p> <p>&#8220;Thus two test takers who give exactly the same answers can get different IQ scores if normed against different reference samples. Test makers periodically renorm their tests, keeping the mean at 100, but the same score can represent very different levels of absolute performance.&#8221;</p> <p>&#8220;On average, measured IQ has been rising at roughly 3 points per decade across the industrialized world for as far back as the data go. This means that someone who got a score of 100 on an IQ test in 1900 would get a score of only 70 for the same answers in 2000. This is the Flynn effect.&#8221;</p> <p>Scores have risen because our way of thinking has shifted, Flynn says—we have been “liberated from the concrete” and have put on “scientific spectacles.” He claims the Flynn effect is a consequence of changes in the way people live and the skills they cultivate—changes brought about by the Industrial Revolution.</p> <p>Given Flynn’s idea that intelligence is how well and quickly we learn, IQ tests are an odd way to measure it. They do not set learning tasks and measure performance within a fixed time. At best they gauge past learning, which can indirectly measure the capacity to learn quickly and well but would be confounded with things like executive function and current and past motivation.</p> <p style="text-align: center;"><a href="http://www.americanscientist.org/bookshelf/pub/the-domestication-of-the-savage-mind"><strong>Click Here To Learn About Intelligence &amp; The Flynn Effect</strong></a></p>

Posted by Miguel on June 30, 2009 10:00 PM · permalink

  <p>Randy Pausch proves to be a wonderful speaker and thoughtful commentator. Here he talks about time management and why many of us  forget to practice it in our daily lives.</p> <p><strong>Introduction (via You Tube)</strong></p> <p><span class="description">Carnegie Mellon Professor Randy Pausch gave a lecture on Time Management at the University of Virginia in November 2007. </span><br /> <a href="http://www.youtube.com/watch?v=oTugjssqOT0&amp;feature=PlayList&amp;p=BCD362F95A724D1E&amp;index=16"><strong>Watch The Video Below Or Click Here For Our Email/Rss Subscribers </strong></a></p> <p><object width="425" height="344" data="http://www.youtube.com/v/oTugjssqOT0&amp;hl=en&amp;fs=1&amp;" type="application/x-shockwave-flash"><param name="allowFullScreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="src" value="http://www.youtube.com/v/oTugjssqOT0&amp;hl=en&amp;fs=1&amp;" /><param name="allowfullscreen" value="true" /></object></p>

Posted by Miguel on June 30, 2009 09:00 PM · permalink

  <p>The Indian markets continued their downward journey as selling activity persisted till the final minutes of trade. The BSE-Sensex ended lower by around 290 points, while the NSE-Nifty closed lower by about 100 points. Stocks from the mid-cap and small-cap spaces ended the day on a weak note as well, recording losses of 2.9% and 2.5% respectively. Selling activity was witnessed in stocks across the board today, with the pack led by stocks from the realty, metal and capital goods sectors.</p><p>Other Asian markets ended the day on a mixed note today. The European indices are currently trading in the red. Rupee was trading at 47.99 against the US dollar at the time of writing.</p>

Posted by Equitymaster on June 30, 2009 12:58 PM · permalink

  This is the state of Nifty. Most of the market participants have no idea where Nifty should be. Fundamentally also, investors are lost. Momentum has given way to realism. Welcome to sideways market. In fact, I got this feeling last week itself. I wrote a piece on this subject also - Nifty: Up, Down and [...]

Posted by Deepak Singh on June 30, 2009 09:57 AM · permalink

  <p><span>Indian inflation as measured by Wholesale Price Index ((WPI)) is released every week. Two weeks back this number came out negative for the first time in 30 years. </span></p><p><span>Although WPI is indicating deflation, no one in India is concerned about it and this negative number is attributed to high base index. </span><span>In India, inflation is actually calculated year-over-year (y-o-y), </span><span>unlike other economies where inflation </span><span>calculated as annualized month-over-month (m-o-m) change. Thus, the base index plays an imprtant role in inflation calculation in India.</span></p>

Posted by Abhilash Kushwaha on June 30, 2009 09:36 AM · permalink

  The charts are like x-rays that shows the internal health of the market and it is important to pay close attention to them. The 3 charts that I have chosen today are Apollo Hospitals PVR GE Shipping Let us see what each of these charts want to tell us. Apollo Hospitals = Bearish Control Yesterday, the stock formed Bearish [...]

Posted by Deepak Singh on June 30, 2009 03:25 AM · permalink

  There is no excerpt because this is a protected post.

Posted by Deepak Singh on June 30, 2009 01:54 AM · permalink

  Lots of you complain that you do not receive my mails on time or at all. Well, I always make a conscious effort to reach you on time but it seems the mail gets lost either in information overload or spam filter. Make sure the e-mail you want is never accidentally deleted as “spam”. Here’s what [...]

Posted by Deepak Singh on June 29, 2009 01:50 PM · permalink

  <p><p>The Indian markets gave up the huge gains they had registered during the second half of today&rsquo;s trading session, and closed on a flat note as selling activity intensified during the fag end. The BSE Sensex and NSE Nifty ended higher by around 10 points each. However, the stocks from the BSE mid-cap and BSE small-cap indices ended strong, up by around 1.2% and 1.5% respectively. Buying activity was witnessed in stocks from the metal, realty and banking spaces, while stocks from auto and software spaces ended on a negative note. The overall advance to decline ratio was poised at 1.7 to 1 on the BSE.</p><p>Most of the other Asian markets ended the day on a weak note. The European indices are currently trading in the green. The Rupee was trading at 48.15 against the US Dollar at the time of writing.</p></p>

Posted by Equitymaster on June 29, 2009 01:09 PM · permalink

  <p>I covered earnings for <a href="http://collegeanalysts.com/category/acn/">Accenture</a> (ACN) over at AOL Money + Finance, and want to use this opportunity to dive more into the conference call and prospects for the stock. First, the numbers were pretty strong, with the main drag being currency-related.</p><p>From the earnings write-up (<a href="http://www.bloggingstocks.com/2009/06/25/accenture-shares-rise-on-earnings-beat/">&ldquo;Accenture shares rise on earnings beat&rdquo;</a>):</p>

Posted by James Cullen on June 29, 2009 08:29 AM · permalink

  Trading News is always a risky affair because most of the stocks run well ahead of news and by the time the news become public, the stock becomes sell on news counter. There are exceptions also. The idea to track newsflow is to scan for probable opportunities. In this article, I am going to talk [...]

Posted by Deepak Singh on June 29, 2009 03:35 AM · permalink

  There is no excerpt because this is a protected post.

Posted by Deepak Singh on June 29, 2009 03:26 AM · permalink

  A new way to learn about markets. The quiz comprises of 10 questions and it tests your knowledge on market, stocks and events that impact these stocks. Go ahead and have fun Launch Quiz. Please have patience. It takes time to load the quiz. Do let me know your feedback at 2deepaksingh@gmail.com Disclaimer - The state of the market [...]

Posted by Deepak Singh on June 28, 2009 09:25 AM · permalink

  There is no excerpt because this is a protected post.

Posted by Deepak Singh on June 28, 2009 08:01 AM · permalink

  Nifty has resumed uptrend. This is the headline across all blogs; and newspaper. Is that so? I don’t know. Then, what happened to the downtrend everyone was talking about a week back. The new reality - we are going nowhere. Nifty will spend a great deal of time around current levels as we did in [...]

Posted by Deepak Singh on June 28, 2009 03:24 AM · permalink

  Dumb money is only dumb when it listens to the smart money…Peter Lynch There are two popular perceptions in field of finance - Perception 1: Time = Money Perception 2: Knowledge = Power Science says  Power = Work/Time. Using logic of substitutes - replacing power by knowledge in above equation Knowledge = Work / Time But Time = Money….so substituting time [...]

Posted by Deepak Singh on June 27, 2009 01:41 PM · permalink

GalaTime  
  <p>Via <a href="http://paul.kedrosky.com/">Paul Kedrosky</a>, <strong>Aguanomics: </strong><a href="http://aguanomics.com/2009/06/how-drought-promotes-entrepreneurship.html"><strong>How Drought Promotes Entrepreneurship</strong></a></p> <blockquote><p>&#8230; it is unmistakable that the most drought prone states, like Rajasthan and Gujarat, produce by far the most Capitalists while the well watered states like Kerala and West Bengal produce the most Communists. [Kerala and West Bengal have regularly voted Communist for at least the last 20 years and are the only states in India to have done so.] What is even more remarkable is that it is the rainfall/drought variable that appears to dominate regardless of variation in religion, ethnic group, or differential exposure to foreign trade or colonialism.</p> <p>&#8230; ethnic Chinese arriving in tropical rainforests from colder, drier, more seasonally affected regions of China had a cultural advantage over their tropical counterparts when it came to saving, investing and other entrepreneurial activities. If “every cloud has a silver lining”, maybe occasional droughts have a silver lining as well.</p></blockquote> <p>Interesting take. Not quite tested on a statistical basis. But it&#8217;s easy to relate to, especially for me - I&#8217;m from Kutch, the driest part of Gujarat, and growing up it was obvious that entrepreneurship was <span style="text-decoration: line-through;">a</span> the way of life in the community, and getting a job meant something was wrong with you! <img src='http://www.galatime.com/wp-includes/images/smilies/icon_smile.gif' alt=':)' class='wp-smiley' /></p> <div><a href="http://www.addthis.com/bookmark.php" onclick="window.open('http://www.addthis.com/bookmark.php?pub=galatime&amp;url=http%3A%2F%2Fwww.galatime.com%2F2009%2F06%2F27%2Fon-rain-risk-taking%2F&amp;title=On+Rain+%26%23038%3B+Risk-taking', 'addthis', 'scrollbars=yes,menubar=no,width=620,height=520,resizable=yes,toolbar=no,location=no,status=no'); return false;" title="Bookmark using any bookmark manager!" target="_blank"><img src="http://s3.addthis.com/button1-bm.gif" width="125" height="16" border="0" /></a></div> <p><a href="http://feedads.g.doubleclick.net/~a/M85xMcZTFhSnC3nEVG77nTfCAMY/0/da"><img src="http://feedads.g.doubleclick.net/~a/M85xMcZTFhSnC3nEVG77nTfCAMY/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/M85xMcZTFhSnC3nEVG77nTfCAMY/1/da"><img src="http://feedads.g.doubleclick.net/~a/M85xMcZTFhSnC3nEVG77nTfCAMY/1/di" border="0" ismap="true"></img></a></p>

Posted by Kaushik on June 27, 2009 02:48 AM · permalink

  <p>Persistent buying activity during the day led the markets to end the week on a strong note. The BSE-Sensex ended higher by around 419 points, while the NSE-Nifty closed up by about 135 points. Stocks from the mid-cap and small-cap spaces ended the day on a positive note, recording gains of 2.4% and 1.9% respectively. Buying activity was witnessed in stocks from the banking, consumer goods and IT spaces, while stocks from healthcare ended on a negative note.</p><p>Most of the other Asian markets ended the day on a positive note today. The European indices are currently trading in the green. The Rupee was trading at 48.27 against the US Dollar at the time of writing.</p>

Posted by Equitymaster on June 26, 2009 10:41 AM · permalink

  <p>In line with <a href="http://epiphanyinvesting.com/2009/06/23/philly-fed-market-timing-reflation/" target="_blank">yesterday&rsquo;s post</a> on some pending changes to the Secular Trends Model Portfolio, I am blowing out the remaining 1850 shares of Schering-Plough (SGP) in the model. SGP has really just been a floater since the announcement of Merck&rsquo;s (MRK) buyout in early March, which initially valued Schering shares at $23.60 in cash and stock.</p> <p>Since I have no particular desire to hold MRK shares (or deal with the record-keeping of this corporate event), I&rsquo;m getting out now, happy with the 90% gain but a little frustrated that I didn&rsquo;t exit on March 10th. At the time I was still quite skittish on the broader markets, and my thinking was that I was happy to ride along with a stable Big Pharma (MRK as the tracker) through the Spring. If I had known the S&amp;P would shoot up 40% those three months, well - you get the picture.</p>

Posted by Ryan Barnes on June 25, 2009 09:33 AM · permalink

  Most of us know the bull climbs slowly up the stairs, but the bear jumps out the window Bulls have not given up despite uncertain Global market environment. Though, optically, Nifty is struggling to move higher but broader market seems to be in cheerful mood. US Fed has spoken; and there is no surprise element in [...]

Posted by Deepak Singh on June 25, 2009 04:09 AM · permalink

  <p><span><span>Dear Clients and Prospective Clients:<br></span></span></p><p>At the start of the year, we at Smead Capital Management predicted that 2009 would be like 1988. In the aftermath of the 1987 Stock Market Crash the market thrashed around violently in both directions before settling at the end of the year with about a 10% gain counting dividends. People had to put up with a great deal of volatility to earn that gain in 1988 and we felt that 2009 would look similar. We are halfway through the year and 2009 appears to be 1988 on steroids. The down swings and upswings have already been huge, but the stock market is about where it started the year.</p>

Posted by William Smead on June 24, 2009 09:06 PM · permalink

  <p>If current trends continue, there is no doubt that there will be wars fought in the 21<sup>st</sup> century over water.<span> </span>Not oil. Not ideology.<span> </span>Not theology.<span> </span>Water.<span> </span>Survival.</p> <p>It takes somewhere between the three pounds of grain the National Cattlemen's Beef Association estimates and the sixteen pounds some environmentalists and vegetarians claim to produce a pound of beef.<span> </span>I believe the truth lies closer to the cattlemen&rsquo;s numbers &ndash; all the ranchers I know, and I know plenty, graze their cattle where they consume vast quantities of weeds and natural grasses.<span> </span>What business person wants to buy grain, adding to their cost of doing business?<span> </span></p>

Posted by Joseph L. Shaefer on June 24, 2009 08:49 PM · permalink

  <p>Buying activity during the second half of today&rsquo;s trading session led the markets to recover their losses and end the day on a positive note. The BSE-Sensex ended higher by around 98 points, while the NSE-Nifty closed up by about 45 points. Stocks from the mid-cap and small-cap spaces ended the day on a positive note, recording gains of 2.3% and 2.2% respectively. Buying activity was witnessed in stocks from the power, consumer durables and health-care spaces, while stocks from oil &amp; gas and banking space led the pack of losers.</p> <p>Other Asian markets also ended the day on a positive note. The European indices are currently trading in the green as well. Rupee was trading at 48.45 against the US dollar at the time of writing.</p>

Posted by Equitymaster on June 24, 2009 12:11 PM · permalink

  <p><em>By Neena Mishra</em></p><p>The World Bank has projected (in its Global Development Finance Report) that the Indian economy will grow at 8% in 2010, which would make it the fastest-growing economy in the world for the first time, surpassing China, which is projected to grow at 7.7% rate. <a href="http://www.zacks.com/stock/news/21318/This+Time%2C+It%27s+Global">Please read Dirk Van Dijk's post</a> for more information about the World Bank's forecast on the global economy.</p>

Posted by Zacks.com on June 24, 2009 08:24 AM · permalink

  Bulls and Bears are locked in intense battle to gain control over the market. In last three days, markets have gone no where and it just explains how balanced both bulls and bears are at current juncture. With Global cues indecisive and F&O expiry in couple of days, it seems the current wave of choppiness [...]

Posted by Deepak Singh on June 24, 2009 03:11 AM · permalink

  <p>The AFG 50 is an actively managed portfolio of 50 stocks, designed to outperform its benchmark (S&amp;P 500) while remaining sector-neutral. The AFG 50 Portfolio serves as an outsourced research team, as our analysts monitor each major economic sector to provide our clients with actionable buy ideas backed by detailed models, reports, updates and a backup list for possible replacements within each sector. Anytime there is a change made to the portfolio, i.e., a new stock, reiterated/change of buy/sell recommendation or adjustments made to models, our clients are immediately notified via e-mail.</p> <p>The AFG 50 was launched on June 10, 2004 at AFG&rsquo;s inaugural client conference. Through June 1st, 2009, our clients have enjoyed the following performance:</p>

Posted by Value Expectations on June 23, 2009 02:42 PM · permalink

  <p>Though the markets made good a part of their losses during the final hours of trade, they ended the day in the red. The BSE-Sensex ended lower by around 50 points, while the NSE-Nifty closed lower by about 9 points. The overall decline to advance ratio was poised at 0.8 to 1 on the BSE. Barring select stocks from the oil and gas and power sector, selling activity was witnessed in stocks across sectors with the pack led by banking, metal, fmcg and consumer durable spaces.</p><p>Most of the other Asian markets ended the day deep in the red today. The European indices are currently trading in the green. Rupee was trading weaker at 48.68 against the US dollar at the time of writing.</p>

Posted by Equitymaster on June 23, 2009 11:48 AM · permalink

  <p>When compared to developed nations, namely the US, UK and Japan, India has the edge given that its GDP has been growing and is expected to grow at a much faster pace going forward.</p><p>What is more, India seems to be in a better position than its peers even when it comes to the total debt that has been amassed. In a bid to bolster their economies, the US, UK and Japan have <a href="http://www.equitymaster.com/5minwrapup/detail.asp?date=5/27/2009&amp;story=3">accumulated debts</a> that are set to exceed or equal the size of their economies.</p>

Posted by Equitymaster on June 23, 2009 10:08 AM · permalink

  <p>We've been arguing for some time that the Federal Reserve and others who influence the economy must choose between two great evils &ndash; inflation and deflation. No middle ground remains open.</p> <p>What's more, inflation remains the more palatable of the two. A nation can endure high inflation for a time without destroying its long-term economic prospects. For example, after World War II, Japan experienced inflation on the order of 40% annually for several years. Yet it segued from that ordeal to become an economic juggernaut for much of the seceding decades.</p>

Posted by Dr. Stephen Leeb on June 23, 2009 08:33 AM · permalink

  <div><p>Not quite sure what to make of <a href="http://meganmcardle.theatlantic.com/archives/2009/06/marking_up_waxman-markey.php">this</a> post from Megan:</p> <blockquote class="quote"><p>There is some very angry <a href="http://www.ryanavent.com/blog/?p=2128">back and forth</a> about the CBO&rsquo;s scoring of the Waxman-Markey climate change bill. Economically, I agree, the per-household costs seem to be small. Politically, they may be much larger than their economic cost, for two reasons: First, I&rsquo;m not sure people are going to put any rebate in the same mental basket as the higher prices, and second, people aren&rsquo;t going to pay the costs on a per-household basis. Some households will suffer a lot, while others will be net beneficiaries. Matt, Ezra, Ryan and I are all probably among the net beneficiaries.</p></blockquote></div>

Posted by Ryan Avent on June 23, 2009 07:44 AM · permalink

GalaTime  
  <p><strong>Mauldin @ Investors Insight:  </strong><a href="http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2009/06/22/a-tale-of-two-depressions.aspx"><strong>A Tale of Two Depressions</strong></a></p> <p style="text-align: center;"><img class="aligncenter" src="http://www.investorsinsight.com/cfs-file.ashx/__key/CommunityServer.Blogs.Components.WeblogFiles/john_5F00_mauldins_5F00_outside_5F00_the_5F00_box/jmotb062209image001_5F00_3F6CCE20.jpg" alt="" /></p> <blockquote><p>&#8230; globally we are tracking or doing even worse than the Great Depression, whether the metric is industrial production, exports or equity valuations. Focusing on the US causes one to minimise this alarming fact. The &#8220;Great Recession&#8221; label may turn out to be too optimistic. This is a Depression-sized event.</p> <p>That said, we are only one year into the current crisis, whereas after 1929 the world economy continued to shrink for three successive years. What matters now is that policy makers arrest the decline. We therefore turn to the policy response.</p></blockquote> <div><a href="http://www.addthis.com/bookmark.php" onclick="window.open('http://www.addthis.com/bookmark.php?pub=galatime&amp;url=http%3A%2F%2Fwww.galatime.com%2F2009%2F06%2F23%2Fdepression-deja-vu%2F&amp;title=Depression+Deja+Vu', 'addthis', 'scrollbars=yes,menubar=no,width=620,height=520,resizable=yes,toolbar=no,location=no,status=no'); return false;" title="Bookmark using any bookmark manager!" target="_blank"><img src="http://s3.addthis.com/button1-bm.gif" width="125" height="16" border="0" /></a></div> <p><a href="http://feedads.g.doubleclick.net/~a/tnRnDXasXFDcuc2epeZ3Dn9L8ik/0/da"><img src="http://feedads.g.doubleclick.net/~a/tnRnDXasXFDcuc2epeZ3Dn9L8ik/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/tnRnDXasXFDcuc2epeZ3Dn9L8ik/1/da"><img src="http://feedads.g.doubleclick.net/~a/tnRnDXasXFDcuc2epeZ3Dn9L8ik/1/di" border="0" ismap="true"></img></a></p>

Posted by Kaushik on June 23, 2009 03:13 AM · permalink

  The reality is that there is always a reason to be bullish and bearish–that’s what makes markets. But what should one do - when all arguments are up in the air and there is no conviction in any of them. The old joke about technical analysis is that it works, until it doesn’t. Right now, [...]

Posted by Deepak Singh on June 23, 2009 02:43 AM · permalink

  <p>Persistent selling activity during the final hour of trade led the indices to end the day on a weak note. The BSE-Sensex ended lower by around 200 points, while the NSE-Nifty closed lower by about 80 points. Stocks from the mid-cap and small-cap spaces ended the day on a weak note as well, recording losses of about 0.6% and 0.3% respectively. While stocks from the oil &amp; gas and metals space led the pack of losers today, stocks from the FMCG and capital goods sectors managed to garner investors&rsquo; interest.</p><p>Other Asian markets ended the day on a mixed note today. The European indices are currently trading in the red. The Rupee was trading at 48.55 against the US dollar at the time of writing.</p>

Posted by Equitymaster on June 22, 2009 12:30 PM · permalink

  <p>I initiated the analysis of Patni computers in <a href="http://blog.rcfunds.com/?p=552">my l</a><a href="http://blog.rcfunds.com/?p=552">ast post</a>. The rest of the analysis follows:<br><br><strong>Competitive analysis</strong><br>The IT services industry is a very competitive industry driven by scale, customer relationships and management quality.</p>

Posted by Rohit Chauhan on June 22, 2009 11:23 AM · permalink

  <p>Switzerland-based financial services provider UBS (NYSE: UBS) is reportedly selling its <a href="http://www.infinit-o.com/" target="_blank">business process outsourcing</a> and knowledge process outsourcing units. And is said to be in talks with Indian offshoring giants Infosys Technologies Limited (NASDAQ: INFY) and Wipro Limited (NYSE: WIT). The UBS Indian Service Center and UBS Krakow centre has an estimated value of $200 million, reports The Economic Times.</p> <p>UBS&rsquo; decision to sell its BPO and <a href="http://www.infinit-o.com/bpo-outsourcing-research.html" target="_blank">KPO</a> units might not come as a surprise as Citigroup Inc. (NYSE:C) made the same move when it sold its captives in 2008. But the Switzerland-based bank may have made the decision at the wrong time as Tata Consultancy Services (TCS) predicts the decline in global outsourcing demand is over.</p>

Posted by Outsourcing Insider on June 22, 2009 07:49 AM · permalink

GalaTime  
  <p><strong>Caijing: </strong><a href="http://english.caijing.com.cn/2009-06-19/110186641.html"><strong>Fear the Dark Side of China&#8217;s Lending Surge</strong></a><strong> </strong></p> <blockquote><p>The current surge in commodity prices, for example, is being fueled by China&#8217;s demand for speculative inventory. Damage to the domestic economy is already significant. If lending doesn&#8217;t cool soon, this speculative force will transfer even more Chinese cash overseas and trigger long-term stagflation.</p> <p>The international media has been following reports of record commodity imports by China. The surge is being portrayed as reflecting China&#8217;s recovering economy. Indeed, the international financial market is portraying China&#8217;s perceived recovery as a harbinger for global recovery. It is a major factor pushing up stock prices around the world.</p> <p>But China&#8217;s imports are mostly for speculative inventories. Bank loans were so cheap and easy to get that many commodity distributors used financing for speculation. The first wave of purchases was to arbitrage the difference between spot and futures prices. That was smart. But now that price curves have flattened for most commodities, these imports are based on speculation that prices will increase. Demand from China&#8217;s army of speculators is driving up prices, making their expectations self-fulfilling in the short term.<br />  </p></blockquote> <p><em>&#8216;Government knows best&#8217; - at its worst!</em></p> <div><a href="http://www.addthis.com/bookmark.php" onclick="window.open('http://www.addthis.com/bookmark.php?pub=galatime&amp;url=http%3A%2F%2Fwww.galatime.com%2F2009%2F06%2F22%2Fchinas-credit-boom%2F&amp;title=China%26%238217%3Bs+Credit+Boom', 'addthis', 'scrollbars=yes,menubar=no,width=620,height=520,resizable=yes,toolbar=no,location=no,status=no'); return false;" title="Bookmark using any bookmark manager!" target="_blank"><img src="http://s3.addthis.com/button1-bm.gif" width="125" height="16" border="0" /></a></div> <p><a href="http://feedads.g.doubleclick.net/~a/9gBk5jhujb6frkAH9FCjAFVJoS4/0/da"><img src="http://feedads.g.doubleclick.net/~a/9gBk5jhujb6frkAH9FCjAFVJoS4/0/di" border="0" ismap="true"></img></a><br/> <a href="http://feedads.g.doubleclick.net/~a/9gBk5jhujb6frkAH9FCjAFVJoS4/1/da"><img src="http://feedads.g.doubleclick.net/~a/9gBk5jhujb6frkAH9FCjAFVJoS4/1/di" border="0" ismap="true"></img></a></p>

Posted by Kaushik on June 22, 2009 03:37 AM · permalink

  Some prices on how much it costs to rent your PC, if infected: Prices vary greatly. Finjan said in Australia 1,000 infections have been sold for $100, while the same number can be picked up for as little as $5 in other countries, but mainly in the Far East. Although it doesn't say it, your PC is for rent in batches only if it is a Windows machine. Apples Macs are a bit tougher, although their market share must one day get to the point where they justify more attention: As TrendLabs' technical communications specialist Det Caraig points out in his research note on the attacks, Apple users are still far less likely to have their endpoints owned than their Microsoft Windows using peers. However, as proven over the last year in particular, Apple's growing PC market share has driven a subsequent upswell in the numbers of threats being created to target its OS. That day may be here soon. Note that the (2) threats mentioned above are based on the user downloading and installing dodgy software. That's generally considered not to be something that Apple Macs or Microsoft can protect a user against. A market-share comment only, not a security-share comment. Fans for either camp will twist the words whichever way. For my money, the #1 security tip -- buy a Mac -- is still intact....

Posted by iang on June 21, 2009 11:14 AM · permalink