The best-known market for trading is the stock market - though the markets for bonds, currencies and coffee are larger. Since markets essentially consist of buyers and sellers wagering on a future possibility (never mind the discounted cash flow of the high-minded purists!), theoretically there can be markets for anything, for instance, a market for speculating on whether Brazil will win the...

When gold prices crossed $600 we had asked whether gold was a great investment option. Gold bulls were sanguine that it would cross the old high of $850, made sometime in early 80s. We were not so sure. After our analysis, gold surged past $700 in a month. But after touching $730, a 26-year high, the yellow metal started softening until on June 13, it posted its steepest one-day decline in 23...

As usual, the new funds that collected thousands of crores are deeply under water. It's a new version of an old story

The 3500-point crash of the Sensex in a month has decimated the NAVs of mutual funds that were mindlessly riding the bull bandwagon. The largest gush of money came into the funds between Sensex levels of 10000-12000, as investors succumbed to the marketing pitch of funds and...