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T he Securities and Exchange Board of India (SEBI) has patted itself on the back for being the first regulator to launch mandatory IPO (initial public offering) grading as an additional investor protection tool. Congratulations are, indeed, in order, because there has been powerful opposition...

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Cases of medical negligence are difficult to prove. They involve life-threatening circumstances and the situation is further complicated because the hospital staff rarely testifies against one another. That is why a 28th February 2007 order of the National Consumer Disputes Redressal Commission...

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Most investors over-estimate what they think their company is earning. Don’t fall for an impressionist judgement. Work out the number, suggests Shreedhar Kanetkar If you own shares in a company, here’s a question you should be able to answer: how much profit is your company making? Don’t...

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What is the connection between margin trading, risk, value and Monet? Shreedhar Kanetkar explores One of these days, someone from your broker’s office is likely to offer you money to buy shares. Margin funding (not to be confused with the money your broker makes available for intra-day trades)...

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Since 1992, the S&P500 has gained 200%; Dow is up 250% and Nasdaq 280%. In 1992, Starbucks, the coffee chain, made an IPO. Those who invested in it are today sitting on gains of 5,000%. Starbucks began by selling coffee at $3 a cup when Americans were used to coffee in 50-cent Styrofoam cups to...

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The 15% correction that has happened between 9th February and 16th March 2007 has brought the prices of many stocks down to earth. Overly bullish investors have suddenly turned in their horns. A declining market is the best time to separate the wheat from the chaff. Stocks that hold up in a...

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By now everyone has heard of one Hassan Ali Khan of Pune and the dailies are full of news covering various aspects of the scandal, some unbelievable and some shocking. The most shocking to me was the statement: “The Income Tax Dept. in Mumbai says he has not filed any tax returns for the...

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Consider this conundrum: derivatives trading is complex and meant for sophisticated investors, mainly institutions. Trading volumes are large. The two national bourses notch up a combined daily turnover in excess of Rs20,000 crore during a bull market. Yet, the regulator says that a...

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Funds as a whole have done exceptionally well during the Feb-March decline. But the top funds of the May-June 06 decline underperformed in the Feb-March fall and the underperformers last time did much better this time, ML Research Desk gives details How do funds perform during market...

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You can learn to give away money from speculator Soros as much as you can learn how to make it, says Shreedhar Kanetkar We are heirs to a great tradition of generosity. From Anathapindika, a disciple of the Buddha who is said to have given 54 million gold coins to the Sangha when the Buddha...

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The whole system is loaded in favour of institutional investors While the equity market is booming, retail investors in the Indian stock markets are becoming scarcer. I am sure that if all the companies were to publish the number of shareholders, along with their quarterly results, it would be...

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I am a new subscriber to your magazine. I have insurance policies of multiple companies and, being the oldest (39!) in my office, I do help juniors with taxes and insurance. Insurance agents want to sell policies “with profit”, that is, endowment or Unit-linked Insurance Plan only....

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India’s first micro-cap fund may hit the market soon. DSP Merrill Lynch has just filed for launching DSP ML Micro Cap Fund. But its definition of what is a micro-cap stock is debatable. The prospectus describes micro-cap as one which is not part of the top 300 companies by market...

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Books on stock markets come in many varieties. The vast majority is on technical analysis. They are all of the same kind (we have reviewed one here). Then there are books about successful traders (autobiographical or otherwise), which are very inspiring. A small number is on market history....

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A week of mayhem on bourses worldwide has sent companies planning initial public offerings (IPOs) running for cover. From Vancouver to Croatia to Bangkok, companies are postponing their IPOs. On March 8, Orbit Corporation was making plans to postpone its issue at least by a week. Instead...

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Debashis Basu Debashis Basu 29 March 2007
When the market was rising, it was not because of strong fundamentals alone. The crash too is devoid of any fundamental logic. Somewhere in between, lies value. How do you go about understanding it? Debashis Basu explains Every bull market needs the fuel of money to keep going. The Indian...

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Menon Bearings makes auto components and its product profile includes bearings, bushes, washers and bi-metal strips. MBL is the original equipment (OE) supplier to companies like Telco, Cummins India, Maruti Udyog, Mahindra & Mahindra, Greaves, Escorts, HMT Tractors, Eicher Tractors, Kalyani...

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There is only so much that can be written as guidelines regarding the dos and don’ts of protocol and etiquette. It is the ‘feel’ in a particular situation, in a strange environment, which will be the final test of what works for or what works against. For the rest, it is see, observe and follow....

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The Union Budget this year has left ordinary tax-paying Indians inordinately angry and frustrated. In the 10th year after he delivered a ‘dream budget’, Finance Minister, P Chidambaram appears to have lost his touch; ironically, the economic situation today is the best that any Finance...

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How often have you been furious at the insensitivity, apathy and lack of accountability of various government entities and did not know how to make your grievance heard? Many of us believed that consumer courts are the only real recourse for those determined to seek justice. But that is a...

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