3108, 2015

News: China Gets Really Angry, Mumbai Flat Sells 50% Lower, Defaults in Dubai and Not Much Better in India

By |August 31st, 2015|Categories: China, News, Readings, RealEstate|0 Comments

In News to Read today:

NHB “considering” a proposal to allow home lenders to reintroduce prepayment penalties. But this is just retrograde – the excuse that they need to recover their costs is a load of bull, they charge the customer legal costs and processing fees, and are covered from day one.

How farmers from Rural China bet on the market and lost. The village that played the markets in its spare time, seems to have lost its spare money.

A Navi Mumbai flat sold for 50% less. It probably deserves to fall a lot more, as […]

2909, 2014

Reads: Twisting Ireland’s Arm, Alarming Startup Cash Burns, Axing IIPM….

By |September 29th, 2014|Categories: Readings|1 Comment

Monday reads:

IIPM can’t call itself a management institute, says Delhi High Court. The organization – it’s hardly an institute – has been making fools out of students for many years, putting full page ads and talking about MBAs from unknown sources in Belgium and so on. I used to spend a lot of time trying to debunk their claims a long time back, when they threatened bloggers and put silly cases in strange places on anyone who wrote honestly about them. Well, it’s payback time, and it’s going to get a lot worse.

Exotel, a […]

2109, 2014

Sunday Read: The Story of Sheetal Mafatlal and Her Fake 100 cr. Art Theft

By |September 21st, 2014|Categories: Readings|3 Comments

This is one incredible story, from the Mumbaiwalla stable. Of the trendy Sheetal Mafatlal and how she stole family-owned paintings, got them faked, and implicated her friends for having stolen the originals. (HT @venkatananth)

For the house proud mistress, Sheetal Mafatlal, it was just one amongst an impressive collection signed mostly by Raza, Husain, Souza, Sabavala andAnjolie Ela Menon. Collectively valued at nearly Rs 100 crore, they were a constant source of pride and the few remaining reminders of the past glory of the House of Mafatlal. The only ‘family silver’ worth anything substantial, […]

2907, 2014

Reads: IT Scrutiny, Loan Dis-Waiver, Retail in F&O, VC Changes

By |July 29th, 2014|Categories: Links, Readings|Comments Off on Reads: IT Scrutiny, Loan Dis-Waiver, Retail in F&O, VC Changes

Income Tax Department to run a city specific tax scrutiny: Co-op bank deposits in Bangalore, Cars in Lucknow, Films in Kolkata (Times of India). Nothing wrong with this drive, black money doesn’t sit in Swiss banks anymore, it is largely in India. But I just wish they explored real estate – it’s a far bigger black money source.

Andhra farm loan waiver turns into recast, but RBI says there’s no justification (Business Standard) Oh, those pesky election promises.

Modi’s “New” India is off to a Bad Start (Bloomberg). We won’t give up […]

2104, 2014

Reads: Companies Act, Dartboard Picks, Vadra’s Real Estate Portfolio

By |April 21st, 2014|Categories: Readings|Comments Off on Reads: Companies Act, Dartboard Picks, Vadra’s Real Estate Portfolio

Monday AM Reads:

Mauritius Court Freezes Shiv-Vani Oil’s Offshore Assets after it Defaults on $84 million (Economic Times)

Companies Act Likely To Hurt Realty Firms (Business Standard)

What the 1% Don’t Want You To Know (Bill Moyers, Truth-Out)

Throwing Spaghetti Against a Wall (Prashanth)

Japan Shows Deficit of $14 trillion, Yen Falls (Bloomberg)

The Business Interests of Karti Chidambaram (LiveMint)

Robert Vadra’s Real Estate Empire (WSJ)

Just returned from another weekend trip out of town, lots more to come.

1303, 2014

Reads: Infy Warns, Sun Pharma Alerts, New Zealand Raises, Bull Market EndGame

By |March 13th, 2014|Categories: Readings|1 Comment

In News:

Infy says it might not make as much money as it thought. Revenues at lower end of guidance, clients aren’t spending. Stock down 8%. (SmartInvestor)

Sun Pharma sees the FDA put an import alert on the Karkhadi plant and the stock’s down 3.5%. (Economic Times) Wonder why it’s singled out in this fall – mentioned in the FDA report are: Ranbaxy (all plants), Aurobindo Pharma (1 plant, stock is up!), Wockhardt (2 plants).

New Zealand is the first developed country to raise rates (Bloomberg)

Mutual funds find it difficult […]

303, 2014

Reads: Synchronized Tightening, Buffett Letter, Marketing Amortization and more

By |March 3rd, 2014|Categories: Readings|Comments Off on Reads: Synchronized Tightening, Buffett Letter, Marketing Amortization and more

Think before you buy with a credit card: The taxman will track individual spends. (SmartInvestor)

Buffett’s annual letter to investors. A lot of stuff there I don’t agree with, in the sense that it’s not the only way to invest. But it’s made him a substantial amount of money, and good for him! As usual though, great investing letter. Remember, read what Buffett says, but don’t bullshit yourself that it applies to anything beyond just that; unnecessarily broad usage of statements like “don’t lose money” have lost people more money than dear old Noida Toll Bridge. Do […]

2002, 2014

Reads: Hawala Premiums, Chinese Taper, Airtel Loses, Don’t Go To Jail

By |February 20th, 2014|Categories: Readings|Comments Off on Reads: Hawala Premiums, Chinese Taper, Airtel Loses, Don’t Go To Jail

Hawala premiums for gold smuggling are up to 4%, says Business Standard.

Bad Housing Starts data in the US? No, says Calculated Risk; it’s the cold weather and higher prices.

Why I didn’t go to jail, writes Ben Horowitz, on doing the right thing instead of doing what other people are doing.

China’s flash PMI for Feb falls to 48.3, a seven month low and takes European stocks with it.

Bharti Airtel loses appeal in case to Econet Wireless in Nigeria, has to pay $3 billion to Econet which […]

1202, 2014

Reads: Killing BitCoin, More Taper, Bad Debts in India

By |February 12th, 2014|Categories: Bitcoin, Readings|Comments Off on Reads: Killing BitCoin, More Taper, Bad Debts in India

The Glitch that will kill Bitcoin (Bloomberg).

Bad jobs report won’t change the Taper (CNBC)

Government Jugaad: Asking RBI to pay interim dividend to meet fiscal targets (Livemint)

What Indian regulators are getting wrong (Business Standard)

Tata Housing Screws Low Cost Housing Flat Buyers (Alphaideas) Or, why you should not buy under-construction properties, Tata Housing Edition.

The Bad Debt Problem exacerbates in many Indian banks (Livemint)

No more 26% cap on lending rates for Microfinance companies (ET)

SEBI: Brokers must use multiple trading software in case one vendor goes bust (ET) Seems to target […]

2801, 2014

Reads: Dropping EM Currencies, Of Mad US Housing, Apple Drops 8%, Aam Aadmi Airline Regulation

By |January 28th, 2014|Categories: Readings|6 Comments

Via @palmerandrew: Chart of EM Currencies:

Embedded image permalink

51 million iPhones, 26 million iPads, in one darn quarter. But Apple’s $13 billion earnings was a tad lower than the previous year, and lower than street estimates (which nowadays are a bigger thing than reality, it seems). The stock is down 8% in after-market trade as a consequence.

 

Parag Parikh on why closed ended funds are becoming seriously popular:

For simplicity’s sake, let’s ignore the regulatory slabs for expense ratios and assume a fund can charge 2.5% as expenses per year. Say for instance a fund is closed […]

2309, 2013

Real Estate: Builders Not Delivering, High Unsold Inventory and Then, Defaults

By |September 23rd, 2013|Categories: Defaults, Readings, RealEstate|12 Comments

In real estate, for you on a Monday, is not good news. They aren’t finishing their projects, says Mansi Taneja at Business Standard.

Till July this year, of the committed supply of 406,539 housing units, only 143,838 had been completed, according to data from real estate research firm PropEquity. That comes to 35.38 per cent — just a tad more than a third.

In Gurgaon, the committed supply was 22,571. But till July, only 7,645 units, or 33.9 per cent had been delivered by developers. In Noida, of the 36,847 […]

706, 2012

Readings: Greece Broke, Slumdogs Into Millionaires

By |June 7th, 2012|Categories: Readings|Comments Off on Readings: Greece Broke, Slumdogs Into Millionaires

The Prospectus For Silicon Valley’s Next Hot Tech IPO (which sounds like most Indian IPOs)

Greece Warns of Going Broke as Tax Proceeds Dry Up (NYT)

Nearly 6.5 Million Linked Account Passwords Posted Online (PCW)

And in that vein, Jeff Atwood Makes Your Gmail Hacker Proof (Read Now) 

Turning Slumdogs Into Millionaires: Of Pabrai’s Focussed Charity in India (Forbes)

How To Keep Your Financial Advisor Honest (CBS). I wonder if this will work in India.

When the Fake @jhunjhunwala met the real one (Sruthijith at […]

106, 2012

Readings: Buying India Abroad, Spain, Fed and Jelly Donuts

By |June 1st, 2012|Categories: Readings|Comments Off on Readings: Buying India Abroad, Spain, Fed and Jelly Donuts

Ajah Shah on the moving of trading of Indian instruments outside Indian shores.

The CEO of SGX wakes up in the morning and thinks about competing with NSE. The CEO of NSE wakes up in the morning and thinks of an array of weird things.

I’m not all in agreement – Nifty futures have more OI in Singapore for other reasons also: they
trade longer, they can be traded in the night, and they are US dollar These factors are quite important now as suddenly RBI will do a policy […]

1403, 2012

Readings: TMC Madness, Goldman Sucks, Reliance GRMs

By |March 14th, 2012|Categories: Readings|Comments Off on Readings: TMC Madness, Goldman Sucks, Reliance GRMs