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On Wednesday, 12 December 2007, we saw something truly remarkable. The Asian markets were all sharply down due to a 290-point fall in the Dow Jones Industrial Index the previous night. Before the Indian market opened, I got a call from one of my friends, asking me where I saw the market headed. Before I said anything, he said, “It looks grim, isn’t it?” he asked. I said that the market would...
