False News

Gammon India: On 19th April, a financial daily reported that Gammon India had bagged a Rs800 crore order to develop 15 acres of land. The share price jumped on the news. In an interesting response, Gammon pointed out that the paper had exaggerated the size of the order, which was for Rs338 crore “and not Rs800 crore, as has been wrongly stated in the media.” It put things in perspective...

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Subprime Disclosures Of Prime Securities

Please refer to Sucheta Dalal’s piece “Expert’s Losses” as part of the True Lies section in the 24th April issue, in which you covered the case of Prime Securities. Let me also bring to light the duplicity of this firm in its recent announcements which has resulted in many investors like me losing heavily. In their announcement on 27th March to the stock exchanges, they said that the Rs38...

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Arthur Levitt’s Articles

As I was reading Sucheta Dalal’s article in MoneyLIFE, 24th April issue, I remembered the speeches of Arthur Levitt, former chairman of SEC. Among them, I recommend “Future of America’s Investors” (16 January 2000) and “Investing with Your Eyes Open” (16 September 2000). These are still relevant to us. I must mention that MoneyLIFE is a fine magazine and I enjoy reading it.
PV Maiya,...

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