LETTER TO UDHAYAN MUKHARJEE
For the first time after many months, Indian stock market closed on the negative on all the five days of the week which included a short 1 hr auspecious Muhurat trading session. The arrogance(as Mr.Udhayan Mukharjee of TV 18 called it) with which the sensex crossed 20000 even after the P-Note issue, could not lost long as it has been proved so many times in the past.Even an act of Vengence, particularly by one who has failed before, can succeed but not an attitude of arrogance. Any cricket lover will still remember how arrogant Amir Sohail was, to show our Venkatesh Prasad where he will hit the ball and where he should keep his fielder and got out the very next ball and rightfully Venkatesh prasad with vengence showed him where the pavilion was. And our friend Udhayan Mukharjee went one step above that.After a conversation with the great investment guru mr.Mark Faber, who said the U.S economy and the Sub-prime crisis will be a catastrophe and even emerging markets will correct by 20-30%, Udhayan simply said that Mr.Mark Faber is saying this last 2 years and the market is only going up. He does not understand that Mr.Mark Faber is not like CNBC TV18 which sees the market every 5-10mnts and look for directions from Asia and Europe for a 50-100 points correction. People like Mark Faber make in depth study and invest in 10-15 yrs cycle and so will always be ahead of times. We all know how arrogant operators in Indian stock market in the past were punished not by anybody but primarily by their own weight of arrogance. We all know that nobody is consitantly right in market timings or stock picking. So taking a personal pride when somebody is wrong is an act of perversion and making a hue and cry when market falls is an act of helplessness. And for a person who is merely a reportor of the stock market happenings, both are unnecessary and unwarrented. Mr.Udhayan Mukharjee - MARKET WILL DO WHAT IT THINKS AND THE SCREEN WILL SHOW IT - You just do your work of reporting that and dont go gung-ho when market goes up and put down your face and voice when they are down. ALL THE BEST!!!!
Labels: Mark Faber, stock market - indian and global, tv18, udhayan mukharjee
posted by manipayal @ 9:22 PM
2 Comments:
At 3:14 AM,
Sundy said…
Mr.Mani
The last thing an investor should do is to follow pink papers, financial magazines and business TV channels.
I'm not sure whether you watched TV on 17-May-04 (the Black Monday). There were many reasons attributed to the market crash but later none of them proved right.
Very recently, the US Sub-prime mortgage crisis was cited as a reason for Indian stock market collapse but Sensex managed to gain more than 6000 points from the low of that crisis. I've also written an article about it and how media finds reasons to substantiate crisis situations.
So, don't get tensed about what is being said on air and internet.
Sundaramurthy
http://vsundy.blogspot.com
At 5:47 AM,
manipayal said…
hai Sundy, I think you have not understood what i am saying. I am also saying that these media fellows talk nonsense and i watch them only to know who talks what but never take any decision on that basis. I am basically a contratrian and enjoy swimming against the tide.i am just enjoying the corrent fall and more of that to come in the next 4-6 months. In the last 10yrears if there is one person to whom I have gr8 respect as an analyst is Mr.Samuel Trivedi who shouted thro the roof before the I.T bubble burst and similarly predicted 19000 by end 2007 when sensex was around 6000. I am tring anxiously now to find out his views if he has a website or something.Do you know anything abt that?
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