"The third-rate mind is only
happy when it is thinking with the majority. The second-rate mind is only happy
when it is thinking with the minority. The first-rate mind is only happy when
it is thinking. "
—A. A. Milne (English, 1882-1956)
Word for the day
Desultory (adj)
Digressing from or
unconnected with the main subject; random:
(Source: Dictionary.com)
Malice towards
none
If the betting market is to be believed, Pappu Yadav with 5-8 seats may
emerge the real king maker in Bihar.
Considering that no party has so far spoken anything against him
publically, it is safe to assume that everyone sees friend in him.
First random thought this morning
Rabid is a strong word in
political context. It becomes even stronger if the government is finding it hard
to build consensus around key economic legislations like GST. Regardless it has
been used and the consequences shall follow.
What bothers me more is
that the terminology has been used as part of the suggestion that the current
dispensation at the centre is more "tolerant" to the opposing views
than the previous ones.
I do not care much about
the people returning the awards and honors, but would certainly stop for a
moment and think if Gulzar is trying to say something.
2H2015 trend may continue in 1H2016
Among these reasons, I feel the fundamental reasons are cyclical
in nature and should correct themselves in normal course of the economic and
business cycle.
The domestic macroeconomic factors are supportive but the global
economic slowdown appears more secular in nature. So the adjustments are going
to much longer time.
The political factors are permanent in nature and need not be
bothered about too much, in my view.
The technical factors are therefore more critical from near term
viewpoint.
As I suggested earlier also (see here),
the benchmark indices are close to the tipping point on monthly charts. The
current correction is not bothering me. What bothers me more is the potential
persistence of it.
In my view, if Nifty fails to close materially above 8300 by December end
(monthly closing) 8450-8500 range will become a very strong resistance for
1H2016. Meaning, we may have another low to negative return year.
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