Due Diligence

More than a week after Bernard Madoff was arrested, Diana Henriques, summing up the findings of 11 stalwarts from the New York Times – the journalistic equivalent of the crew that won cricket’s Prudential World Cup in 1983 – reported that “The case is still viewed more with mystery than clarity… But whatever else Mr. Madoff’s game was, it was certainly this: the first worldwide Ponzi...

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“100% Guaranteed Return?”
A few days ago, an SMS hit my mobile phone. The message read – 1st Time in History of STOCK MARKET 100% WRITTEN CASH BACK Guarantee, Earn Minimum DOUBLE PROFIT in our UNIQUE CASH, FUTURE, NIFTY PLAN. CALL/SMS us on 09724002444. I called the number back and had an illuminating conversation with a customer service representative.

Me: I have called to inquire about your service.
...

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Slow Decline

Lack of liquidity for builders will force real estate prices further down

Realty prices, at last, are on the decline in Mumbai. The global story of meltdown in real estate prices, in general, and residential property prices, in particular, had not affected Mumbai until some time back either because they were artificially kept at such levels or the builder lobby was unwilling to lower the...

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