On Slack: 10 Pertinent Questions, 60 Crore Hours, Corporate Tax Overhaul, GDP Estimates, Raghuram Rajan, SIP Returns 10 Years, Shockwaves, Time To Ignore Advice, Why States Fail? and more….

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Slack is where the daily action happens. We take pride in our diverse and always helpful member community which includes value investors, fund managers, and professional traders. Here is a brief summary of some of the interesting things discussed there in the last few days. Find all older ones here.


#macronomics: GDP estimates don’t factor in note ban impact: TCA Anant

Govt estimated country’s economic growth rate to slow down to 7.1% in the current financial year. Business Standard

#general: India’s Days as a Beer-Drinking Lightweight May Soon Be Over

When it comes to drinking beer, India’s days as a lightweight may be coming to an end. That’s the view of BMI Research, which sees “huge potential” for growth and investment in India’s underdeveloped beer market thanks to young and increasingly affluent consumers, low base effects and changing cultural attitudes. Bloomberg

#stocks: Odds stack up against battery makers Exide Industries, Amara Raja Batteries

A slowdown in the replacement market sales is worrisome as this segment brings in about two-thirds of the operating profit for battery makers. Livemint

#bonds: SBI MF launches instant redemption in SBI Savings Fund

SBI Mutual Fund has introduced instant redemption facility under SBI Savings Fund, an ultra short term scheme. This facility will be available for transaction made through SBIMF website and SBI MF’s mobile applications from today. Economic Times

#general: Sebi notifies easier rules for fund managers to enter India

Sebi has made amendments to Sebi (Portfolio Managers) Regulations, 1993, to provide an enabling framework for registration of eligible fund managers. Livemint

#macronomics: Demonetisation: Bank credit growth slowest in decades, say economists

Data released by RBI showed that as of December 23, bank lending to businesses individuals and the farm sector stood at Rs 73.48 lakh crore, an increase of 5.1% over the same period of last year. Economic Times

#general: Explain demonetisation, your role, flip-flops, secrecy: Parliament panel to RBI Governor Urjit Patel

Urjit Patel to appear before PAC on January 28, list of 10 questions sent. Indian Express

#general: Govt wants details of cash deposited before note ban

Finance Ministry says bank account holders must submit PAN by Feb 28. Indian Express

#general: It’s tough to be a man

In a politically correct world, there may sound like a terrible thing to say. But somebody’s got to say it as it is. Livemint

#general: A Parliament Panel Has Asked These 10 Pertinent Questions To RBI Governor On Demonetisation

Patel was asked to appear before the panel on 28 January. Huffington Post

#general: Banks defer decision to charge transaction fee on card payments at petrol pumps

Banks on Sunday night deferred their decision to charge 1% transaction fee on card payments at petrol pumps from Monday, a move that had prompted dealers to say they will stop accepting plastic money unless a mechanism to compensate them was also put in place. Times of India

#general: Raghuram Rajan on Challenges the Global Economy Faces in 2017

Youtube

#macronomics: The Major Potential Impact of a Corporate Tax Overhaul

The current corporate income tax manages the weird trick of both taxing companies at a higher statutory rate than other advanced countries while collecting less money, as a percentage of the overall economy, than most of them. NY Times

#stocks: Aurobindo Pharma to buy Portugal’s Generis for Rs. 969 cr

Aurobindo Pharma has inked a pact to acquire Portugal’s Generis Farmaceutica SA from Magnum Capital Partners for a consideration of €135 million (around Rs. 969 crore). Hindu Business Line

@nagpalmanoj

Thanks to all 2300+ SIP-pers who voted on return expectations from SIPs in next 10yrs. Here are SIP returns of past 10/15 yrs.

#general: Sebi to allow MF buying through wallets, decision likely at Jan 14 meeting

The move comes at a time when online payments are getting a huge push by the government. Business Standard

#general: Aadhaar now mandatory for EPF pension scheme

The Centre has made obtaining an Aadhaar number mandatory for 2.5 crore members of the Employees’ Pension Scheme of 1995, one of the benefits available to Employees’ Provident Fund subscribers. The Hindu

#general: It’s Time to Ignore Advice About Which Stocks to Buy in 2017

It’s that time of year when financial advice sites issue their lists of the “Stocks to Buy for 2017.”  Before you take them up on their suggestions, let’s look at how well such portfolios did in 2016. NY Times

#general: 10 million Bengalureans lose 60 crore hours, Rs 3,700 crore a year to road congestion

The Revised Master Plan 2031 that the Bangalore Development Authority put out in the public domain on Wednesday, said 1.18 crore citizens waste 60 crore (600 million) man hours annually. And this translates to Rs 3,700 crore, including Rs 1,350 crore on fuel alone, and the rest on productivity (man hours) loss. Times of India

#general: The Single Greatest Stock Market Predictor Is… What?

Financial Calibre

#macronomics: Why states fail and how to rebuild them

Fixing fragile nations: lessons from Afghanistan and South Sudan. Economist

#general: LIC to cut FY17 equity investment to Rs 50k cr, eye fixed income

Sources familiar with the life insurer’s plans told Mint that due to lack of opportunities in a weak equity market, LIC will invest the surplus money earned from premiums in fixed income papers instead of stocks. Money Control

#general: FIIs Pull Out $3 Billion From Capital Markets In 2016, Worst In 8 Years

Experts believe that any respite from such a sell-off is likely only in the second half of the new year 2017. NDTV Profit

#general: Meet the Mercers: A Quiet Tycoon and His Daughter Become Power Brokers in Trump’s Washington

Armed with data on an alienated electorate, a hedge-fund magnate and his family shun the GOP establishment to support the winning campaign; advising on cabinet selections. Wall Street Journal

#general: BSE Star MF extends cut off time for MF transactions

For liquid schemes, the cut off time has been extended from 1 pm to 1.30 pm. Café Mutual

#general: Modi to Open 16-Storey Exchange to Rival Singapore and Hong Kong

Prime Minister Narendra Modi is set to inaugurate an international exchange in Gujarat state’s new finance zone, seeking to grab some of India’s $48 billion in offshore banking activities from Singapore, Dubai and Hong Kong. Bloomberg

The Arbitrage Series

Masters Invest

#general: How Market Crashes Happen

A Wealth of Common Sense

#general: Contrary to reports, Yahoo is not changing its name to Altaba

Only the investment part of Yahoo that will be renamed ‘Altaba’, while the main brand will retain its name. The Guardian

#general: Chhattisgarh’s way of dealing with Aadhaar: When fingerprints fail, take photos

Not wanting to turn away people from ration shops, the state is finding ways around Aadhaar. Scroll

#general: January 2017 Data Update 1: The Promise and Perils of “Big Data”!

Aswath Damodaran

#macronomics: Shockwaves Run Through the Indian Economy But Business Confidence Remains High

World Economics

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