Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
Remember Harshad Mehta 1990-1992? His middle name was my Father's first name "Shantilal". Mme Sucheta Dalal became a star exposing him. I was involved al-be-it indirectly as Advisor to Kothari in Chennai. Under cover of Mehta's scam, the Kothari sibling - married to a sister of Ambani, bought up his shares driving it up from under Rs 20 to as high as Rs 140. I begged him to sell, but he refused. The stock eventually came down to Earth and then disappeared. The sibling could afford the loss married into the Ambani family. Unfortunately, we are retained and paid by many Indian tycoons and would-be tycoons but theynever follow our advice. MY Q to you is - that was 30 years ago. Has anything changed? Not just in India but also in the UK and the USA. It has gotten worse. With derivatices, indexes, ETF's galore, Killer Whales and Great White Sharks prowl and prey on greed of the small retail investor. To her credit, Sucheta tries hard to expose scams when she sees them with one eye on "solicitors" as scammers resort to solicitors to silence whistleblowers.
Why are Indian PSU banks lending against securities that are trading at these crazy valuations? What compulsion do they have to do this? Please don't advocate a further cover up. It would be better to acknowledge and work on fixing the underlying problem of over leverage.
If i had your hotline to Adani i would advise him to stop borrowing more than he can chew.