New funny tricks become popular in bull market. Here is one

You know it is a bubble market when investors rush to acquire shares, which are not in short supply in the first place, without worrying about the safety of their funds or the legality of their purchase. A blogger, who goes by the name Bullish Indian, writes that several people have asked whether it is possible to apply for the...

The horror story of an HSBC customer. But it can happen to others too

I recently read the book If God Was A Banker by Ravi Subramanian which had been released with much fanfare by HSBC’s country-head Naina Lal Kidwai. While the book claims to be a piece of fiction, there are enough of recognisable characters and events (despite the attempt to obfuscate identities and time lines). One...

Funds are sending investors their money by cheques and enjoying the float

Last week, I received this e-mail from R Ashar of Dubai. The message included a copy of an e-mail sent to M Damodaran, chairman of the Securities and Exchange Board of India (SEBI) complaining that asset management companies (AMCs) of mutual funds are indulging in unfair practices to profit at the cost of their...