- Wealth PMS
A note about the crash
Markets were down substantially this week. Increasing inflation and high interests are to blame, but it’s not just that; it’s also that the US markets are up around nine weeks now and looking stronger and stronger. It seems that FIIs consider it better to invest back home.
It might just be that black money was being routed through countries abroad back into the Indian markets. In the face of wikileaks, exposes and supreme court notices to please stop the corruption, money moves back so that it can be hidden away again, this time in another country.
We have no shortage of scams and we never will. The problem isn’t that we’re corrupt. The problem is that we don’t want to do anything about it.
We demand more regulation, more carefulness, more rules that do nothing but hurt the innocent user. Fill seventy forms, each of which contains the same details; and every form was created because of some abuse, sometime, somewhere. But unless you lock everyone down, you can’t prevent such abuse; and then who will guard the guards? The very people who build draconian laws abuse them, which is why we hate the Sanjay Gandhi who tried forced sterilization.
The point is not that there is abuse. The point is that the guilty are not punished in this country. We don’t need to crucify our sinners, literally, but we must have a level of punishment that deters people from crime. And that does not include “death from old age”. At the extreme, look at the Mumbai 26/11 case and a certain Ajmal Kasab. Nothing has happened. At least he’s in jail.
Not in jail, despite being accused with some serious evidence, is the Satyam scandal tainted Raju. Or the 3G scam Raja. Or the CWG-looting Kalmadi. Or the political and armed forces bigwigs behind the Mumbai Adarsh building scandal. Or Madhu Koda. Or Yeddiyurappa who has been caught favouring relatives.
Our fast track courts give their orders after 8 years. Come on. If a case as high impact as Godhra can take 8 years, why should we believe small cases of fraud will even be addressed?
Two More Mutual Fund Videos Are Up!
After last week’s hugely successful video on Introduction to Mutual Funds in India, we have brought for you two more – in a continuation of sorts.
Do watch and let us know!
Also if you’ve missed them, some of our past Short Takes:
- Recovering From a Steep Loss is Tougher
- A primer on the P/E Ratio
- What are Bond Yields?
- The Physical Gold Con Job
- Mutual Funds Are Not Just For Equity Investing
- No More Third Party Cheques for Mutual Funds
- STT and Option Prices
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