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| 04-08-2010 | The Economic Times |
Even PIGS can fly. Rarely could sporting triumph have come as such a welcome distraction as World Cup victory has for Spain. After the trials and tribulations of past six months, the flag-waving and dancing in fountains that followed the extra-time winning goal in the Fifa World Cup 2010 final were as much about relief as euphoria. Spain of 201... More » Stocks look vulnerable to vertigo |
| 07-07-2010 | The Economic Times |
A Great aphorist, the 19th century clergyman Sydney Smith, defined heaven as ‘eating pâté de foie gras to the sound of trumpets’. The fans of the local Bloemfontein Celtics side are well known for singing as well as for blowing their vuvuzelas — the controversial plastic trumpet favoured by South African supporters ... More » Chances of double-dip recession are remote, but stocks may correct |
| 04-06-2010 | The Economic Times |
It has taken 23 years and a world market meltdown, but Oliver Stone's Wall Street: Money Never Sleeps, sequel to his 1987 hit film, has returned exactly at the time US Congress has introduced the Restoring American Financial Stability Act of 2010.Ironically, the music in the film's trailer is the familiar opening of the Rolling Stones'... More » Why global stocks are poised to rebound |
| 07-05-2010 | The Economic Times |
V is the mould in which the market has been cast. With a correction expected in the second half of May and during July-September, those who invested for the long haul will emerge winners, says Sunil Kewalramani.It is not only global stock markets that have traced out a V shape in the 19 months since Lehman. Most world economies have experienced a... More » Shape of the stock market recovery |
| 30-03-2010 | The Financial Express |
Everyone loves a list, especially a list of the world’s plutocrats. This year, US fat cats have fallen behind. To the victor, go the spoils. Back in 2007, the last surge in emerging market stocks before the credit crisis briefly made Carlos Slim, the Mexican telecom magnate, the richest man. Then the crisis supervened. Emerging markets sold ... More » Slim’s fat pickings |
| 16-03-2010 | The Financial Express |
The global stock rally is one-year old. World stock markets closed at their low for the crisis 12 months ago on March 9. The rally that then started is still intact. The FTSE All-World index is up 75% in dollars, no significant market is down and big emerging markets have had huge gains—more than 160% for Russia and Indonesia. The S&P 500... More » Happy birthday, global stock rally |
| 04-03-2010 | The Financial Express |
World stocks have picked themselves up in the past two weeks and the US Federal Reserve’s Ben Bernanke helped them on their way on February 25 by studiously declining to stoke speculation about imminent rises in interest rates. The sharp sell-off that started in January begins to look like a correction and nothing more. Continued gains in the... More » Will the US lead stock rally in 2010? |
| 27-02-2010 | The Financial Express |
In the parlance of Jesse Livermore, the famous Wall Street trader, the path of least resistance for the stock market is higher, yet investor resistance to stocks as evidenced by what people actually do with their money remains subservient to events such as the Central Budget and monetary policy. So, it’s a good thing that Budget 2010 is extr... More » What we saw on Friday was more than a relief rally |
| 23-02-2010 | The Financial Express |
Bernanke has increased the US discount rate from 0.5% to 0.75%. At the same time, a Fed survey of senior lending officers suggests the credit crunch that triggered the crisis is easing US EQUITIES recorded their first successive weekly gains since late December on Friday, February 19 as a discount rate hike by the Fed helped reinforce hopes that t... More » Fed move won't hurt stock rally |
| 18-02-2010 | The Financial Express |
Markets tend to move like a pendulum from risktaking to risk aversion and back. If 2009 was about taking risk, this year so far has been about shedding it. No one said 2010 was going to be easy. Leading stock indices have fallen 8-9% from their peak as investors zeroed in on threats from fiscal, regulatory and monetary tightening. The threats are r... More » Return on risk |
| 12-02-2010 | The Financial Express |
A look at history shows that a strong rebound in stock markets is not unusual and excellent returns are available to those who survive rough patches. Since 1871, the three worst ten-year returns for stocks (here I am taking the S&P 500 as it is the index for which most data is available) have ended in the years 1974, 1920, and 1978. These were ... More » Why global stocks will rebound - II |
| 11-02-2010 | The Financial Express |
Just a fortnight’s correction and market pundits are already questioning whether the last 10 months’ stock market rally has run out of steam. Just as the Pacific Rim led world markets out of their slump at the end of 2008, so they are now leading the first true correction since the relief rally took hold last year. On January 27, Hong K... More » Why global stocks will rebound - I |
| 29-12-2009 | The Economic Times |
A KEY RELATIONSHIP BETWEEN US GOVERNMENT BOND market yields entered the record books last week, and some believe that based on historical evidence, this could be a long-term ‘buy’ signal for equities. The US Treasury yield curve — which measures the difference between short- and long-term interest rates an... More » US bond yields point to A VIEW TO A KILL |
| 29-12-2009 | The Financial Express |
US stocks were the worst asset class over the past decade with an abysmal 0.1% 10-year annualised total return, the worst performance in 200 years. US stocks provided lower returns than cash while emerging market stocks returned over 10% and commodities over 7%. Wall Street is on track to achieve its first annual advance in two years after stagin... More » Taking stock of the 'lost decade' |
| 16-12-2009 | The Financial Express |
After an initial shock, conventional wisdom is downplaying Dubai’s mishaps. Shukran, Abu Dhabi, thank you. Dubai’s wealthier neighbour will, after all, bankroll the emirate’s largest state-owned conglomerate and stave off default. The scale of the support proffered to Dubai is huge—it has received some £25bn from Abu ... More » Shukran Abu Dhabi, but Dubai is not just sandstorm in a teacup |
| 11-12-2009 | The Economic Times |
The recent few days have seen a lot of laggard stocks also contributing to the rally and leaders have taken a bit of a back seat going ahead if you were to move ahead where do you think participation will come in Nifty primarily?Yeah, we have a great climate change summit taking place in Copenhagen and there are lot of people who are extremely ne... More » We expect a Copenhagen rally soon |
| 30-11-2009 | Livemint.com |
If the creditors of Dubai World do not agree to the debt standstill and a sovereign default does occur, the dollar carry trade could begin to reverse as investors return to safe-haven currenciesFinally a central banker has admitted he is as clueless as everyone else. “It is inherently extraordinarily difficult to know whether an asset’s... More » The inner mind of markets |
| 28-11-2009 | The Economic Times |
Dubai World’s mission statement says: True to our claim, the sun never sets on Dubai World, our investment portfolio extends across 100 different cities in the world. We are spread across a wide spectrum of strategic industries and sectors ranging from ports management, property development, hospitality and tourism, free zone operations, pri... More » Sun sets on Dubai World |
| 24-11-2009 | The Financial Express |
It was 30 years ago that the world first chortled at the scene in The Graduate in which a smug Los Angeles businessman takes aside the baby-faced Dustin Hoffman and declares, “I just want to say one word to you—just one word—‘plastic’” To sneer at all things plastic was to offer an instant definition of oneself ... More » Just one word -- plastic |
| 11-11-2009 | The Financial Express |
Warren Buffett’s recent planned $27 billion acquisition of Burlington Northern Santa Fe has been described as an “all-in wager on the economic future of the US”. If the best expression of the future of the US economy is a railway operator dating back to the mid-1800s, then Mr Buffett’s (it is hard to contest Mr Buffett&rsqu... More » Are markets all over irrational again? |
| 06-11-2009 | The Economic Times |
Over the past year, the dollar has increasingly been at the epicentre of a so-called “carry trade.” The Fed has been injecting liquidity into the monetary system to stimulate lending. Banks have the options of putting this money at the Fed at 0.25% (on excess reserves at 0.15%i) or invest t in assets providing better returns. With... More » Perils of dollar carry trade |
| 08-10-2009 | The Business Standard |
While most feel the world is a safer place now that the financial crisis has been tackled, Sunil Kewalramani lists ten future bubbles in the making. One year after the world’s brush with economic catastrophe, there’s a lot to learn from bubbles that caused the financial chaos. And what does this tell us of what’s next on the rada... More » Ocean of bubbles |
| 12-09-2009 | The ArticlesBase.com |
The correlation of gamma and ? was used by Wall Street financial engineers to calculate predicted loan "mortality" rates which some believe created the huge trouble in the securitization business (CDO, CLO, CPDO, SIV). It is interesting to note that the entire mathematical theory was lifted from epidemiology, i.e. the study of how communicative vir... More » Swine Flu pandemic and impact on world stock markets |
| 11-09-2009 | The ArticlesBase.com |
At the outset, the Indo-US nuclear deal appears path-breaking and allows India to regain its techno-commercial independence and sovereignty that we lost in 1978. The deal is supposed to contribute to sustainable development, energy sustainability and fight against climate change. Unlike solar and wind energy,nuclear technology is the only one... More » Nuclear energy and its discontents |
| 28-04-2009 | The ArticlesBase.com |
Hearing the new, more aggressive restructuring plan offered by General Motors reminds one of the scenario for mankind jokingly foreseen by Woody Allen. “One path leads to despair and utter hopelessness. The other, to total extinction. Let us hope we have the wisdom to choose correctly.” If – and it is a big if – the plan is ... More » Automobile industry : Disruptive technologies are the need of the hour ! |
| 30-03-2009 | The Business Standard |
While the US has been steadily regaining its share of global market capitalisation over the last year or so, the BRIC countries have lost ground, says Sunil Kewalramani. The BRICs model, developed by Goldman Sachs in “Dreaming with BRICs : The path to 2050”, at the start of the century became synonymous with economic growth, opportunit... More » Is BRICs just a great marketing acronym |
| 21-02-2009 | The Business Standard |
The sharp rise in the Baltic Dry Index does not signal an economic recovery. Both the Shanghai Composite and the Baltic Dry Index (BDI) have been on the rampage of late. When the ‘decoupling’ bugle was heard the loudest, measuring the cost of space on dry-bulk ships and the price of shares in the Chinese domestic market attracted the mo... More » False dawn for the shipping industry |
| 18-02-2009 | The ArticlesBase.com |
As investments, airlines are best left to relentless optimists and colourful egomaniacs. Over the long term, a diversified portfolio of airline stocks has reliably lagged behind broader market averages. Airlines’ long-run operating margins have averaged just 2 per cent since 1950, says UBS. In 2007, during the Paris Air Show, the aviation ind... More » Aviation Industry : Back Into The 'Friendly Skies:' By Farnborough 2010 ? |
| 16-02-2009 | The ArticlesBase.com |
Recent recommendations of the Trai, if accepted, will connect the 330 million plus mobile and fixed-line phone users to computers and usher in a new era of net telephony. It will also give subscribers freedom to choose a carrier of their choice for STD and ISD calls. There is apprehension that Trai directives are bound to affect the bottomlin... More » Telecom Sector : Why the Phone Will Keep Ringing ? |
| 07-02-2009 | The Business Standard |
The chances of corporate default are higher than in even the Great Depression. Increasing bond yields for companies, while the yields on government securities are falling, seem to indicate rising probability of corporate defaults in 2009. Moody’s, the credit rating agency, has forecast a ‘severe recession’ in 2009, with high-yield... More » A bad year for companies |
| 24-01-2009 | The Business Standard |
A sharp rise in sovereign spreads suggests this could be an alarming possibility.On January 9, Standard & Poor’s announced that Greece, Spain andIreland were on review for a possible downgrade, indicating that aEurozone country could default. If financial crises have taught us onething, it is to take such “black swan possibilities&#... More » Will 2009 be the year of sovereign defaults? |
| 22-12-2008 | The Business Standard |
Given Japan’s reverse yield gap, is it safe to assume its malaise of deflation and low economic growth has been exported to the western world.The gap between bond and equity yields is becoming a critical issue in the world financial markets. According to this valuation model, popularly known as the “Fed model,” in equilibrium the ... More » The 'reversing yields' conundrum |
| 11-11-2008 | CNBC-TV18 |
Sunil Kewalramani, CEO, Global Capital Advisors, believes India will not decouple from the developed world. He feels stability will return in India post January-March 2009. "FDI should be opened up since portfolio flows alone add volatility and irregularity in the market." According to him, lagged credit card lending norms could create problems f... More » See mkts stabilizing post Jan-March '09: Global Cap Adv |
| 04-11-2008 | The ArticlesBase.com |
Consistent, comparable and understandable financial information is the lifeblood of commerce and investing. Presently, there are two sets of accounting standards that are accepted for international use--the U.S. Generally Accepted Accounting Principles (GAAP) and the International Financial Reporting Standards (IFRS) issued by the London-based Inte... More » Convergence of IFRS, US GAAP AND INDIAN GAAP and its impact on Indian companies listing in U.S and American companies listing in India |
| 23-10-2008 | The ArticlesBase.com |
The Asian Development Bank noted in January 2008 that education in India was lagging seriously behind its rapid economic growth with only 12,000 training and vocational institutes, compared to half a million in China. Short-term turbulences aside (just as we are witnessing now), India has entered an era of high economic growth. As we enter the las... More » Public-private Partnership in Education Needed in India |
| 23-10-2008 | The ArticlesBase.com |
Wind power is the most mature of mainstream renewable energy technologies and, if the world's electricity generation is to be made cleaner, it must play an essential role. The IEA (International Energy Agency) estimates that, if global greenhouse gas emissions are to be halved by 2050, then wind must contribute about 17 per cent of ... More » Winds of Change Blowing Hard ? |
| 08-08-2008 | The Hindu Business Line |
A recent surge of investor interest in the global carbon credit market has created ripe conditions for risk management products. But the rush of money into the green arena has also raised fears of a bubble since share prices — as in the dotcom bubble — have risen in part on the back of future earnings growth rather than solid visibl... More » Carbon emissions market: A bubble in the boom? |
| 27-07-2008 | The Business Standard |
After being seen as white knights for sick banks, SWFs are now even assisting in the acquisition of rival companies.In a spectacular move, a Kuwaiti sovereign wealth fund and Warren Buffet’s Berkshire Hathaway have joined hands to assist Dow Chemical’s acquisition of rival chemicals maker Rohm and Haas for $15.29 Billion. Until now, sov... More » Changing nature of SWFs |
| 27-07-2008 | The Hindu Business Line |
Exports being 14 per cent of GDP, India is less vulnerable to external shocks than many other Asian nations. Besides, India’s exports are diversifying, reducing the risk emanating from a slowdown in a region or a country such as the US. Once the darling of global investors, the Indian stock market has fallen from favour. The MSCI Indi... More » Why the Sensex fall is overdone |
| 27-07-2008 | The Hindu Business Line |
Movement like a pendulum from over-exuberance to over-pessimism always creates great investment opportunities, just as in the present stock market scene. It is feared that the rebound in the world equity markets is only temporary and that the US is already in recession or this is, at best, a bear market rally. Most journalists and business... More » Down is up for global equity markets |
| 13-07-2008 | The Hindu Business Line |
The stage is set for collaboration rather than confrontation between the pharma majors and Indian drug companies. The Ranbaxy-Daiichi Sankyo deal is a pointer to the shape of things to come. The Indian drugs market, which was $6.3 billion in 2005, is expected to touch $20 billion in 2015. The loss of Ranbaxy to a Japanese predator may... More » Pharma alliances, a shot in the arm |
| 07-06-2008 | The Hindu Business Line |
Boosting research on improving farm yields, investing more in irrigation and rural transportation, and powering farms with solar and wind energy seems to be the need of the hour to drive a second green revolution and tackle the impending food crisis, In India, inflation at the wholesale level has been hovering above 7 per cent on an annual basis, ... More » Green Revolution II needed, and not export curbs |
| 13-05-2008 | The Hindu Business Line |
The pressure on US clients’ IT budgets has made Indian IT companies move substantial work offshore to safeguard operating margins, apart from diversifying their customer base. For the quarter ended March 31, 2008, IT bellwether Infosys Technologies recently announced a consolidated net profit of Rs 4,659 crore a 20.82 per cent growth... More » Why IT sector has a lot of steam still |
| 11-04-2008 | The Hindu Business Line |
Mark-to-market accounting, a rule which forced US banks to carry more securities at market value, owes its origins to the US savings and loan crisis when losses on loans had been hidden by the use of “historic cost” accounting. In the midst of the current credit-induced global stock market meltdown, the impact of the mark-to-market acco... More » Fair value accounting is not fair! |
| 19-03-2008 | The Hindu Business Line |
Under Mr M. Damodaran, the Securities and Exchange Board of India (SEBI) witnessed many crucial reforms, including the removal of entry load on mutual funds with effect from January 4, 2008 and corporate governance norms to be followed by listed companies. Through the latter, SEBI can ensure that at least 50 per cent of a board’s members ar... More » The road ahead for SEBI |
