Police monitoring lakes and canals for stock brokers/investors
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Read this in the Metro (ottawa edition) this morning.
Police in Ahmadabad are monitoring lakes and canals to prevent any suicide attempt by stock brokers and investors who lost money in the last week in the stock market crash where billions were wiped out within a week.
Reminds of the Nortel stock where it went down from $121 to 70c where number of desis lost their savings.
I am going to stick with real estate.
DIO
the NYSE total global market capitalization is $22.5 trillion in 2006. does anyone know what is the mrket capitalization of BSE and NSE in $.
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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership
Location: God's own country
Posted on: 23-05-06 13:53:31
Quote:
Originally posted by desi in ottawa
Reminds of the Nortel stock where it went down from $121 to 70c where number of desis lost their savings.
I am going to stick with real estate.
DIO
DIO,
Unlike Nortel or Enron, Indian stock markets will spring up. The reason for the crash was margin call which made people sell their positions to make good the margin calls. The fundamentals are still very very strong. The only losers would have been speculators who borrowed money to make a quick buck and who need to return the money in a week or 2.
For people with long term perspective, This is a right time to buy or hold existing stocks. There is nothing wrong with the fundamentals.
Just my view. Not set in stone.
TK
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I am a Gents and not a Ladies.
I agree with TK, This is the time to buy and then hold may be for a year or two. Don't forget in May 2004, sensex dropped 425 points in one day with similar sentiments.
This time However Sensex climbed too steeply in a short period of time and this was to be expected
I am not into stock market but the fundamentals of Indian economy look very good in the near future. India's growth rate has been consistantly above 6% per year for the last 15 years and there is huge pool of skilled workers.
India's population is about 1/7th of the world population. But if you look at the the number of working age adults it will be about 1/5th or may be less. We are looking at a huge middle class and it is growing very fast. So lots of companies want to invest in India.
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