By issuing this statement by SEBI, who is richer now ? The FM and other know so called political leaders.
If SEBI wanted to file. It should kept it secret. It made a Hallla so that market should crash.. so opportunity for buying than comes FM and give his statement helping markets to recover.
In a time of 30 min > Poor Retail Investors have lost their wealth and some one has earned crores of money in this pocket.
RE:Deep Pockets.. Now Deeper Pockets.
by Girdhari lal and co. on Oct 17, 2007 12:25 PM Permalink
Finance minister and also manmohan singh warned earlier to not to invest at such levels but if still someone do so than he is fool.
RE:Deep Pockets.. Now Deeper Pockets.
by Classified on Oct 17, 2007 12:58 PM Permalink
This is a right move from SEBI - PNs are being used to pump in terror funds in the Indian Market, thereby weakening it in a way...I will not be surprised if PNs are banned in future
RE:Deep Pockets.. Now Deeper Pockets.
by Mayank Agarwal on Oct 17, 2007 01:30 PM Permalink
Yes even I had this point when I was posting my previous message but forgot it. I will elaborate it, this PN note thing is not transparent as per the article. So politicians with their black money can channel through a foreign route and invest in stock market and I doubt many must already have been doing it. Regulatory authority does not know who is investing the money in share market...this black money after it has swelled to an amount starts rotting because you cannot invest it hide it that easily..so this PN route is safe for its investment. Get the money in some Swiss back and then invest it. Secondly as my friend has said it above this can be used for increasing terror funds. So all in all I am happy even if market goes back to 15000 level for removing the fund through these PN notes.
RE:Deep Pockets.. Now Deeper Pockets.
by gourav gupta on Oct 17, 2007 01:38 PM Permalink
At this level th esmall investors must have kept away. Stock market at thsi level or that matter at any level is not for small investors. They need some other disciplined form of investing.
RE:Deep Pockets.. Now Deeper Pockets.
by Mayank Agarwal on Oct 17, 2007 12:30 PM Permalink
Well I dont agree with you at all. Obviously whenever there is a fall there is an opportunity for some to buy. But in this case if you read the article properly I think it was a really good move. I hate Chidambram to the core but this has nothing to do with him, this decision was taken by SEBI and it is a very wise move. If you read the article carefully 25 % of FII investment is due to these PN notes and the holder of these notes can withdraw anytime, say within a week and create volatility. It is better to consolidate in a uniform manner than have these steep highs of 3000 points in 15 trading session. You know when these hedge funds will get an opportunity they will run away from our market and it will crash like anything. So it is good move that we restrict these hedge funds who are there to take advantage in short term and run away from our market with billins. Poor retail investor was an idiot if he invested at 19000 levels.
RE:Deep Pockets.. Now Deeper Pockets.
by Sachin Dhariwal on Oct 17, 2007 12:33 PM Permalink
U have a point and thats a very logical conclusion to the whole episode. I appreciate. However, there is always a otherside which prevails and take advantage of which is happen.
RE:Deep Pockets.. Now Deeper Pockets.
by Anil Sharma on Oct 17, 2007 12:14 PM Permalink
Kon kya bolega bhai?? Everyone knows that these dirty politicians want first to fill their pockets and then if they get time, think about India. That's the reason why Indian Airports are one of the worst ones. Look at the customs dept on Airport when AGENTS of custom officers keep targetting innocent travellers. This is the reason why India is way far behind the developed countries. This is the reason why our infrastructure is so poor. So where's all the Tax Money going??? U r right, to the TAXMAN's pocket.
