It’s one of those days I have too much to read, so…
- Day Traders 2.0 – Wired, Angry and Loving It (NYT). Indian markets are also full of day traders, and it’s as difficult a deal here. The interesting part is in a web offering I think will make a lot of sense for India as well, but more on that later.
- Shankar Sharma, the person toted as the big angry bear on CNBC, has a one-year ban reinstated by SAT, and steps down from the board of First Global.
- Brett Steenbarger on the Longer Term View (Weekly) of Risky asset performance. The global recovery may not exactly be gaining steam.
- Sunk Costs, an invisible, pervasive peril : This line made me think – “Just touching an item in a store makes you more likely to purchase it.”
- KPCB and Sherpalo exit Info Edge. They sold 4.05% of stake for 86 cr. a few days back. Remember they bought it for Rs. 245 in 2006, and the share’s quoting above Rs. 800 now. It seems that Insiders are selling the shares in HUGE numbers; Kapil Kapoor, the exec chairman, recently sold 50,000 shares. Info edge might see negative sales growth for FY10, says Hitesh Oberoi, COO.
- (In the above article – turns out StudyPlaces.com got $3m funding, $1m each from KPCB, Sherpalo and InfoEdge, and was recently acquired by Educomp for half – $1.5m. Another unfortunate money losing story of the Indian Internet)