Do it yourself

A quick post PM's independence speech telephonic survey of some market participants finds a large majority confused. All of them are deeply impressed by the high emotional quotient, commitment and nationalistic fervor of the speech. However, many of them sounded disappointed by lack of specific project and scheme announcements that can boost the market Monday morning. We, for the record, are deeply impressed by the tone, tenor and contents of the PM's speech. The speech encourages us to increase our bets on Indian economy. We heard many Big Bang announcements in the speech, which many market participants perhaps would notice in the months to come. Specifically, we would like to highlights the following: (a) For the first time since Lal Bahadur Shastri, a PM has underplayed the role of the government and highlighted the role and responsibilities of citizens in building a progressive society. PM rightly pointed out that all 1.25bn Indians need to contribute in n...

Thought for the day ”Life does not agree with philosophy: There is no happiness that is not idleness, and only what is useless is pleasurable.” -           Anton Chekhov (Russian, 1860-1904) Word for the day Brusque (n) Abrupt in manner; blunt; (Source: Dictionary.com) Teaser for the day All those who believed in Modi's magic wand are already busy doing a reality check.   8 things I wish to hear from PM tomorrow Many media reports are suggesting that the participants in the financial markets are already disappointed with the performance of Modi government. Most of them are keenly looking forward to PM's ceremonial independence speech to find a straw to which they can cling on for some more time. I feel they will be even more disappointed by the noon of Friday. I appreciate that this ceremonial speech is not an occasion to please the financial markets. This s...

Thought for the day ”People don't notice whether it's winter or summer when they're happy.” -           Anton Chekhov (Russian, 1860-1904) Word for the day Cat's-paw (n) Person used to serve the purposes of another; tool. (Source: Dictionary.com) Teaser for the day Does Congress realizes that if it losses Haryana, J&K, Kerala, Assam, and Maharashtra in next couple of years, by 2017 it may be a small minority in Rajya Sabha too? Wonder, what's plan! Declare 15th August 2014 as Swaraj Day I have been highlighting since ever that one of the best things India has got in past 150years is Mahatma Gandhi . And the most unfortunate thing to occur since independence from British rule in 1947 is brazen desertion of Mahatma Gandhi by Indian politicians. To my mind hanging his pictures in government offices or currency notes and naming roads after him is even more contemptuous...

Thought for the day ”Let us learn to appreciate there will be times when the trees will be bare, and look forward to the time when we may pick the fruit.” -           Anton Chekhov (Russian, 1860-1904) Word for the day Equanimity (n) Mental or emotional stability or composure, especially under tension or strain. (Source: Dictionary.com) Teaser for the day Who do we honor by coffering Bharat Ratna, Padma Awards, and gallantry awards - (a) The country - for having great/brave people; or (b) The person - for being great/brave; or (c) The award itself for embracing a great/brave person; or (d) All of the above?   Expect little economics at Red Fort If my memory is not failing me, in past two decades the Prime Minister's independence day speech has never been awaited in Mumbai with so much anticipation. The underprivileged from the relat...

Thought for the day ” Any idiot can face a crisis - it's day to day living that wears you out.” -           Anton Chekhov (Russian, 1860-1904) Word for the day Celerity (n) Rapidity of motion or action; quickness; swiftness (Source: Dictionary.com) Teaser for the day The next global liquidity shot is now due. German yields at all time low. Peripheral Europe Stuttering again. Japan and China not going anywhere. Commodity world jittery. US bomber jets   ready to raid Iraq. If you enjoy roller-coaster ride, get set to go. If you do not - take a good seat in the arena and cheer the braves. Tighten your belts The commentary on global financial markets has conspicuously turned cautious to negative in past couple of weeks. Many seasoned investors and analysts have warned about an imminent correction in prices. Recently, Marc Faber was widely quoted as sayin...

Thought for the day ”Imperfection clings to a person, and if they wait till they are brushed off entirely, they would spin for ever on their axis, advancing nowhere.” -           Thomas Carlyle (Scottish, 1795-1881) Word for the day Taradiddle (n) A small lie. (Source: Dictionary.com) Teaser for the day Could Congnizant's loss be gain of other Indian IT companies? or Cognizant's poor guidance is sacrosanct for the entire sector?  If you are scared, say so A couple of days back I expressed some doubt about the RBI governor's comfort level in the current states of financial markets in particular and state of global economy in general. This I thought was not explicitly stated in the the periodic policy statement made on Tuesday. A day later, on Wednesday, the governor not only confirmed my doubts, but went much further in expressing his discomfort, in an int...

Thought for the day ”The world is a republic of mediocrities, and always was.” -           Thomas Carlyle (Scottish, 1795-1881) Word for the day Bugbear (n) Any source, real or imaginary, of needless fright or fear. A persistent problem or source of annoyance. (Source: Dictionary.com) Teaser for the day A 129 year old organization, which in past had been led by great leaders like Mahatma Gandhi and Subhash Chandra Bose, is genuflecting before a reluctant novice to assume its leadership. It reflects on whom - the party; the country; our political system; our understanding of democracy or just Gandhi family? Three short stories A dilapidated building needing urgent reconstruction Three years ago I had chance to visit a dilapidated residential building in Mumbai. The palatial building which once housed officers of the crown, was abode of mostly lower middle c...