26 05, 2015

Suckered: Globus Spirits Converts Loss to Profit by Creative Accounting

By |May 26th, 2015|Categories: Suckered, WTF|3 Comments

A tweet by @_devesh_ brought this genius tidbit yesterday, from the Q4 2015 results of Globus Spirits :

image  It says:


24 01, 2013

Do Not Undervalue Luck

By |January 24th, 2013|Categories: Demystify, Education, WTF|40 Comments

Too many people attribute their success to their own skill. At some point, when everyone is working their asses off, you begin to wonder if success has quite as much to do with talent, effort and skill, as it does with being in the right place at the right time.

People like Samir Arora of Helios have done incredibly well in the markets. However his tone in this […]

12 07, 2012

WTF: Reading Too Much Into Bulk Deals

By |July 12th, 2012|Categories: WTF|Comments Off on WTF: Reading Too Much Into Bulk Deals

Firstly, apologies for the small hiatus in posting. I am consulting with ICreate, a company that does banking BI (and is founded by two close friends, so excuse my glorification), and we’re trying to do great things in a compressed time-frame. And then I have the young V and the younger Z that demand my attention at home, since they are largely confused about what this whole "going to […]

9 01, 2012

WTF: Sintex Promoters Didn’t Buy After All

By |January 9th, 2012|Categories: Sintex, WTF|6 Comments

I noted last quarter – on October 13, 2011 – that :

The promoters of Sintex “plan” to buy 4.78% and take their stake up to 40%, says MD Amit Patel in a post-earnings conference call.

I don’t really get this. Why would you announce a purchase BEFORE you buy? The stock will run away. Typical […]

4 01, 2012

The Fringe Impact of the RIL-TV18 Deal

By |January 4th, 2012|Categories: Network18, Reliance, WTF|10 Comments

Reliance Industries (RIL) has sold its stake in media entity Eenadu to TV18, in a convoluted complicated deal quite characteristic of RIL and TV18. Let me help you decode.

First, the more recognized sources:

28 10, 2011

BSE Cancels All Mahurat Trades

By |October 28th, 2011|Categories: WTF|5 Comments

The BSE cancelled all futures trades in its recently introduced derivatives segment, on Mahurat Trading on 26 Oct.

It was rumoured that using algolrithm trading methods-high frequency intra-day trades using software-a Delhi-based broker had played havoc with sensex futures. While the low for the day in sensex futures was 14,000, compared to the sensex close of 17,289 in the cash segment, the average price for […]

17 10, 2011

WTF: Network 18 Pledges Holdings To Help Promoters Increase Stake?

By |October 17th, 2011|Categories: Network18, Stocks, WTF|10 Comments

Network 18 has something funny going on. According to me, the company is helping its own promoters buy more shares.

Let me put forth some evidence. […]

10 02, 2010

WTF: 34 million “Poorer” Indians due to the Recession

By |February 10th, 2010|Categories: WTF|2 Comments

A tweet from @inquestioner went “Scary,34 million joined the ranks of the poor in India because of the recession that everyone was in denial of.UNDESA figurs.” [sic]

I usually find these figures very global-warming type – meaning, highly suspect and jugaad methodology – so I thought I’d investigate. In the “World Economic Situation and Prospects, 2010” report, Page 35, they say:


14 01, 2009

WTF: Returns from the lows, or from the highs?

By |January 14th, 2009|Categories: WTF|3 Comments

Rediff’s article: Stay calm, don’t panic by Anil Rego try to mollify investors who got in at the peak of a bull run that it’s all ok, the Sensex recovered really fast after that.

As one can see, someone who invested in peaks, saw troughs, but if s/he had waited patiently would have gained significantly from the stipulated levels at which s/he had bought. Another key point […]

17 12, 2008

WTF: Satyam buys its mirror image, loses 50% in share price, backs off

By |December 17th, 2008|Categories: Satyam, WTF|23 Comments

Late yesterday Satyam’s founder Ramalinga Raju, who has been looking at the company’s war chest sitting idle when there are good uses of the damn money, decided to take action. The best thing to do, he and his board decided, was to buy companies named the mirror-inverse of Satyam, i.e. Maytas.

For $1.6 billion, Satyam would buy Maytas Properties ($1.3 bn) and Maytas Infra ($0.3 bn) and get into the “infrastructure” […]

8 11, 2008

WTF: Business World on RBI

By |November 8th, 2008|Categories: WTF|2 Comments

Business World has an article on the RBI: “Lost in Minutiae“. I find glaring inconsistencies in the article, like:

The latest measures of the reserve bank of India (RBI) giving banks access to more cash at lower interest rates will no doubt be welcomed by the market; a market does not exist which does not love handouts. What is important about the measures, however, is what they tell us about […]