- Wealth PMS (50L+)
Ten Stock Market Myths that Just Won’t Die – Wall Street Journal
What I really liked was #4:
4 "Investing in the stock market lets you participate in the growth of the economy."
Tell that to the Japanese. Since 1989 their economy has grown by more than a quarter, but the stock market is down more than three quarters. Or tell that to anyone who invested in Wall Street a decade ago. And such instances aren’t as rare as you’ve been told. In 1969, the U.S. gross domestic product was about $1 trillion, and the Dow Jones Industrial Average was at about 1000. Thirteen years later, the U.S. economy had grown to $3.3 trillion. The Dow? About 1000.
Moneylife: SEBI investigates the Emami Infra listing price issue.
Manish Jain asks: Is there too much being made of financial data on the internet? A disaster waiting to happen if you put your credit card details on the web, or upload sensitive information online, he says – and I agree. My “moneycontrol.com portfolio” has a gazillion shares with quantity “1” – because they aren’t going to see my real holdings, no way. And Manish says it best:
The idea of aggregating all your financial data to some online website seems risky to me. At least in the US if there is a hack attack you can take the company to court and sue for damages. In India, good luck…imagine 26 years later the Union Carbide case is still going on and that case involves over 25,000 dead people.