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Market Outlook - Short Term
Tracked by: 1 Boarder
Sensex posts biggest weekly fall in 18 yrs
The benchmark Sensex tumbled 7 per cent on Friday and posted its biggest weekly fall in nearly 18 years as panicky investors joined a global selloff on recession worries, with weak industrial data adding to the gloom
...
In reply to:
No one is too big not to fall
Posted by :
sambala
Mazda says no decision on sale of Ford`s stake
Mazda denied Saturday that a decision had been made by troubled Ford Motor Co. to sell its stake in the Japanese automaker, but didn`t rule out a possible deal.
Japanese media reported Saturday that Ford was considering selling its one-third stake in Hiroshima-based Mazda Motor Corp. Public broadcaster NHK, without citing sources, reported that Ford would maintain some of its stake in Mazda and management ties.
"Nothing has been decided," Mazda said in a statement received Saturday. "Any important decision will be disclosed."
Dearborn, Michigan-based Ford said in a statement, "We do not want to comment on speculation."
"Our relationship with Mazda has not changed," Ford said.
The move, should it happen, would be a symbolic retreat for U.S. automakers in Japan. General Motors Corp. similarly sold off its stakes in Japanese automakers in recent years.
Selling shares of Mazda, which makes the RX-8 sports car and Miata roadster, would furnish Ford with cash as it tries to turn around its business.
Ford has struggled amid a drastic downturn in U.S. auto sales, burning through nearly US$11 billion of its cash stockpile in the past year. It reported its worst-ever quarterly loss of US$8.7 billion in the second quarter.
Speculation has risen that Ford may file for bankruptcy, although it has denied that. Ford`s stock price has also suffered, plunging to its lowest level in 25 years.
Ford formed a capital alliance with Mazda in 1979, taking a 25 percent stake. That was raised to 33.4 percent in 1996 - a controlling share in Japan.
Over the last decade, Ford helped engineer a turnaround at once-struggling Mazda, sending executives and sharing technology and auto parts to cut costs.
Mazda, Japan`s fourth-biggest automaker, has been a bright spot in Ford`s otherwise-gloomy fortunes of late. Mazda posted a six-fold surge in profit in the April-June quarter.
In an interview with The Associated Press in Detroit on Friday, CEO Alan Mulally denied Ford was about to run out of cash.
Mulally did not rule out asset sales as a way to raise money, but did not refer to Mazda specifically.
"Cash is really, really important, so we are managing that very carefully," Mulally said.
Tracked by: 1 Boarder
Mittal loses nearly 7 mn pounds per hour.
London : Deepening global credit crisis is taking a toll not just on financial institutions but is eroding individual wealth as well, with Britain`s richest man Lakshmi Mittal losing nearly seven million pounds per hour in the last four months, media reported in London.
"Mittal, who owns some of London`s finest homes, including two in Kensington Palace Gardens, has seen the value of the shares he and his family hold crash from 33.24 billion pounds in June, 2008 to 11.82 billion pounds today.
“Over the last four months, he has lost the equivalent of nearly 180 million pounds a day or some seven million pounds an hour," London`s newspaper Evening Standard said in a report published online on Thursday.
The India-origin chief of world`s largest steel maker ArcelorMittal has lost close to 20 billion pounds in the deepening financial turmoil, Evening Standard said.
Meanwhile, a wealth expert has also said that steel tycoon Mittal has lost an estimated 20 billion pounds owing to the tumbling stock markets and sliding property prices during the last five months.
According to Philip Beresford, the wealth expert who compiles the annual Rich List for The Sunday Times, more than 100 billion pounds would be wiped off the personal fortunes of Britain`s wealthiest industrialists and entrepreneurs in the coming months.
The losses witnessed by Mittal is much higher than others in the top 10 billionaire victims of the financial turmoil in London, compiled by Evening Standard.
Evening Standard said that apart from Mittal, another Non Resident Indian Anil Aggarwal, Chief of mining major Vedanta Resources has also seen an erosion in fortunes due to the financial crisis.
...
In reply to:
No one is too big not to fall
Posted by : sambala
Morgan may benefit from latest Treasury plans
U.S. mulls buying equity in banks as Morgan Stanley awaits MUFJ injection
Morgan Stanley may benefit from the U.S. Treasury`s latest plan to buy equity stakes in financial institutions as the investment bank awaits a crucial $9 billion investment from Japan`s Mitsubishi UFJ.
Late Friday, Treasury Secretary Henry Paulson said the government is developing a "standardized" program to purchase equity in "a broad array of financial institutions."
"Such a program would be designed to encourage the raising of new private capital to complement public capital," he explained in a statement.
Morgan Stanley was hit hard this week by concerns that the firm`s deal with Mitsubishi UFJ may not go through, or might have to be re-negotiated.
Shares in the investment bank slumped 60% to close below $10 this week. Less than a month ago, MUFJ
, one of Japan`s largest banks, agreed to buy 21% of Morgan Stanley, partly by buying stock in the firm at more than $25 each. The $9 billion deal is now worth almost as much as the market value of all of Morgan Stanley.
Morgan Stanley`s predicament could be eased if the Treasury agreed to complement MUFJ`s $9 billion investment by purchasing its own stake in the investment bank.
A spokeswoman for the Treasury declined to comment on specific companies on Saturday, while a Morgan Stanley spokesman didn`t immediately respond to an email seeking comment.
Vicious spiral
The collapse of rival investment bank Lehman Brothers the largest bankruptcy in U.S. history, has triggered a much broader financial crisis in recent weeks that`s begun to limit crucial short-term funding for a wide variety of companies.
Soon after Lehman`s failure, Morgan Stanley gained approval to become a bank holding company, giving it more access to direct loans from the Federal Reserve and allowing it to collect customer deposits, a more stable source of funding.
Morgan also had a $179 billion pool of cash, government bonds and other easily sellable securities at the end of August to help it survive if outside sources of money dry up.
The Mitsubishi UFJ investment will also help bolster capital and reduce leverage. That`s also being helped by Morgan`s efforts to sell assets.
Despite all these positives, Morgan Stanley`s access to funding in private markets has dwindled, sparking worries about its future viability. Those concerns fed upon themselves last week in a vicious spiral that the firm struggled to counteract.
"The Company`s cost and availability of funding have been and may continue to be adversely affected by illiquid credit markets and wider credit spreads," Morgan Stanley warned in a quarterly regulatory filing on Thursday. "Many lenders and institutional investors have reduced and, in some cases, ceased to provide funding to borrowers."
Morgan said its financing needs are satisfied for 2008. But if it can`t borrow money on acceptable terms after that, the firm said it may sell equity while pursuing other ways to raise money such as collecting more deposits, according to the filing.
In September, Morgan said it used some of its $179 billion pool to support its liquidity. The firm shrank some businesses that need lots of funding, sold some assets selectively and tapped government lending programs by pledging collateral. The pool is now smaller, but still a lot larger than it was in 2007 on average, Morgan explained.
Moody`s warning
Moody`s Investors Service warned late Thursday that it could downgrade Morgan Stanley`s ratings because an extended drop in global capital markets activity will likely cut into the firm`s revenue and profit next year and possibly beyond.
The rating agency also said that customers and investors have become concerned about wholesale investment banks like Morgan Stanley. That, in turn, has put more pressure on the firm, Moody`s noted.
Tracked by: 1 Boarder
Morgan may benefit from latest Treasury plans
U.S. mulls buying equity in banks as Morgan Stanley awaits MUFJ injection
Morgan Stanley may benefit from the U.S. Treasury`s latest plan to buy equity stakes in financial institutions as the investment bank awaits a crucial $9 billion investment from Japan`s Mitsubishi UFJ.
Late Friday, Treasury Secretary Henry Paulson said the government is developing a "standardized" program to purchase equity in "a broad array of financial institutions."
"Such a program would be designed to encourage the raising of new private capital to complement public capital," he explained in a statement.
Morgan Stanley was hit hard this week by concerns that the firm`s deal with Mitsubishi UFJ may not go through, or might have to be re-negotiated.
Shares in the investment bank slumped 60% to close below $10 this week. Less than a month ago, MUFJ
, one of Japan`s largest banks, agreed to buy 21% of Morgan Stanley, partly by buying stock in the firm at more than $25 each. The $9 billion deal is now worth almost as much as the market value of all of Morgan Stanley.
Morgan Stanley`s predicament could be eased if the Treasury agreed to complement MUFJ`s $9 billion investment by purchasing its own stake in the investment bank.
A spokeswoman for the Treasury declined to comment on specific companies on Saturday, while a Morgan Stanley spokesman didn`t immediately respond to an email seeking comment.
Vicious spiral
The collapse of rival investment bank Lehman Brothers the largest bankruptcy in U.S. history, has triggered a much broader financial crisis in recent weeks that`s begun to limit crucial short-term funding for a wide variety of companies.
Soon after Lehman`s failure, Morgan Stanley gained approval to become a bank holding company, giving it more access to direct loans from the Federal Reserve and allowing it to collect customer deposits, a more stable source of funding.
Morgan also had a $179 billion pool of cash, government bonds and other easily sellable securities at the end of August to help it survive if outside sources of money dry up.
The Mitsubishi UFJ investment will also help bolster capital and reduce leverage. That`s also being helped by Morgan`s efforts to sell assets.
Despite all these positives, Morgan Stanley`s access to funding in private markets has dwindled, sparking worries about its future viability. Those concerns fed upon themselves last week in a vicious spiral that the firm struggled to counteract.
"The Company`s cost and availability of funding have been and may continue to be adversely affected by illiquid credit markets and wider credit spreads," Morgan Stanley warned in a quarterly regulatory filing on Thursday. "Many lenders and institutional investors have reduced and, in some cases, ceased to provide funding to borrowers."
Morgan said its financing needs are satisfied for 2008. But if it can`t borrow money on acceptable terms after that, the firm said it may sell equity while pursuing other ways to raise money such as collecting more deposits, according to the filing.
In September, Morgan said it used some of its $179 billion pool to support its liquidity. The firm shrank some businesses that need lots of funding, sold some assets selectively and tapped government lending programs by pledging collateral. The pool is now smaller, but still a lot larger than it was in 2007 on average, Morgan explained.
Moody`s warning
Moody`s Investors Service warned late Thursday that it could downgrade Morgan Stanley`s ratings because an extended drop in global capital markets activity will likely cut into the firm`s revenue and profit next year and possibly beyond.
The rating agency also said that customers and investors have become concerned about wholesale investment banks like Morgan Stanley. That, in turn, has put more pressure on the firm, Moody`s noted.
...
In reply to:
No one is too big not to fall
Posted by : sambala
GM, Chrysler held merger talks
General Motors and Chrysler LLC reportedly have been in early talks about a merger as two of the largest U.S. automakers look for new ways to cut costs as sales slump.
GM has talked recently with Cerberus Capital Management, a private-equity and hedge fund firm that owns 80.1% of Chrysler, the Wall Street Journal reported in its online edition, citing unidentified people familiar with the matter.
Cerberus proposed a swap in which GM would acquire Chrysler`s automotive operations. In return, GM would give its remaining 49% stake in GMAC to Cerberus, the newspaper said. Cerberus already owns 51% of GMAC, an auto finance and mortgage lender that`s been hit hard by the credit crisis.
The recent slump in financial markets has halted talks between GM and Cerberus, but if markets stabilize, discussions could resume quickly because both companies want to dispose of these assets quickly, the Journal added.
The New York Times, which reported the talks, said Cerberus is also meeting with other car companies such as France`s Renault SA and Japan`s Nissan Motors.
GM, Ford Motor and Chrysler, the largest automakers in the U.S., have seen sales slump as surging oil prices knocked demand for gas-guzzling SUVs and the credit crisis cuts off financing for potential buyers. GM shares slumped as much as 33% on Thursday, forcing the company to tell Reuters that it`s not considering bankruptcy.
A combination of GM and Chrysler could help the companies combat the sales slump by cutting overlapping operations. GM sees as much as $10 billion in cost-cutting if a deal happens, The Journal reported, citing an unidentified person familiar with the company`s thinking.
A Cerberus spokesman didn`t immediately return an email seeking comment on the report Saturday.
Tracked by: 1 Boarder
The markets will have to go down below 7000 sensex to attract any fundamentally good buys.. cheers, Venkat, Training8m, Australia...
In reply to:
Has your confidence in equities been shattered?
Posted by : MMB Messenger
Dear Boarders,Do let us know your views and opinions on the poll.-MMB Messenger
Tracked by: 1 Boarder
GM, Chrysler held merger talks
General Motors and Chrysler LLC reportedly have been in early talks about a merger as two of the largest U.S. automakers look for new ways to cut costs as sales slump.
GM has talked recently with Cerberus Capital Management, a private-equity and hedge fund firm that owns 80.1% of Chrysler, the Wall Street Journal reported in its online edition, citing unidentified people familiar with the matter.
Cerberus proposed a swap in which GM would acquire Chrysler`s automotive operations. In return, GM would give its remaining 49% stake in GMAC to Cerberus, the newspaper said. Cerberus already owns 51% of GMAC, an auto finance and mortgage lender that`s been hit hard by the credit crisis.
The recent slump in financial markets has halted talks between GM and Cerberus, but if markets stabilize, discussions could resume quickly because both companies want to dispose of these assets quickly, the Journal added.
The New York Times, which reported the talks, said Cerberus is also meeting with other car companies such as France`s Renault SA and Japan`s Nissan Motors.
GM, Ford Motor and Chrysler, the largest automakers in the U.S., have seen sales slump as surging oil prices knocked demand for gas-guzzling SUVs and the credit crisis cuts off financing for potential buyers. GM shares slumped as much as 33% on Thursday, forcing the company to tell Reuters that it`s not considering bankruptcy.
A combination of GM and Chrysler could help the companies combat the sales slump by cutting overlapping operations. GM sees as much as $10 billion in cost-cutting if a deal happens, The Journal reported, citing an unidentified person familiar with the company`s thinking.
A Cerberus spokesman didn`t immediately return an email seeking comment on the report Saturday.
...
In reply to:
No one is too big not to fall
Posted by : sambala
GM Approached Ford About Merger
DETROIT -- General Motors Corp. approached Ford Motor Co. in recent months about a possible merger but Ford called off the talks after the Dearborn, Mich. auto maker concluded it should continue to go it alone, according to a person directly familiar with the talks.
News of the merger talks came one day after reports surfaced that GM has recently been in discussions about acquiring privately held Chrysler LLC. The upheaval in financial markets has rendered inactive the talks between Chrysler owner Cerberus Capital Management LLC and GM, which wants to shed its stake in GMAC, these people said.
Tracked by: 1 Boarder
GM Approached Ford About Merger
DETROIT -- General Motors Corp. approached Ford Motor Co. in recent months about a possible merger but Ford called off the talks after the Dearborn, Mich. auto maker concluded it should continue to go it alone, according to a person directly familiar with the talks.
News of the merger talks came one day after reports surfaced that GM has recently been in discussions about acquiring privately held Chrysler LLC. The upheaval in financial markets has rendered inactive the talks between Chrysler owner Cerberus Capital Management LLC and GM, which wants to shed its stake in GMAC, these people said.
...
In reply to:
No one is too big not to fall
Posted by : sambala
Mazda says no decision on sale of Ford`s stake
Mazda denied Saturday that a decision had been made by troubled Ford Motor Co. to sell its stake in the Japanese automaker, but didn`t rule out a possible deal.
Japanese media reported Saturday that Ford was considering selling its one-third stake in Hiroshima-based Mazda Motor Corp. Public broadcaster NHK, without citing sources, reported that Ford would maintain some of its stake in Mazda and management ties.
"Nothing has been decided," Mazda said in a statement received Saturday. "Any important decision will be disclosed."
Dearborn, Michigan-based Ford said in a statement, "We do not want to comment on speculation."
"Our relationship with Mazda has not changed," Ford said.
The move, should it happen, would be a symbolic retreat for U.S. automakers in Japan. General Motors Corp. similarly sold off its stakes in Japanese automakers in recent years.
Selling shares of Mazda, which makes the RX-8 sports car and Miata roadster, would furnish Ford with cash as it tries to turn around its business.
Ford has struggled amid a drastic downturn in U.S. auto sales, burning through nearly US$11 billion of its cash stockpile in the past year. It reported its worst-ever quarterly loss of US$8.7 billion in the second quarter.
Speculation has risen that Ford may file for bankruptcy, although it has denied that. Ford`s stock price has also suffered, plunging to its lowest level in 25 years.
Ford formed a capital alliance with Mazda in 1979, taking a 25 percent stake. That was raised to 33.4 percent in 1996 - a controlling share in Japan.
Over the last decade, Ford helped engineer a turnaround at once-struggling Mazda, sending executives and sharing technology and auto parts to cut costs.
Mazda, Japan`s fourth-biggest automaker, has been a bright spot in Ford`s otherwise-gloomy fortunes of late. Mazda posted a six-fold surge in profit in the April-June quarter.
In an interview with The Associated Press in Detroit on Friday, CEO Alan Mulally denied Ford was about to run out of cash.
Mulally did not rule out asset sales as a way to raise money, but did not refer to Mazda specifically.
"Cash is really, really important, so we are managing that very carefully," Mulally said.
Tracked by: 1 Boarder
Mazda says no decision on sale of Ford`s stake
Mazda denied Saturday that a decision had been made by troubled Ford Motor Co. to sell its stake in the Japanese automaker, but didn`t rule out a possible deal.
Japanese media reported Saturday that Ford was considering selling its one-third stake in Hiroshima-based Mazda Motor Corp. Public broadcaster NHK, without citing sources, reported that Ford would maintain some of its stake in Mazda and management ties.
"Nothing has been decided," Mazda said in a statement received Saturday. "Any important decision will be disclosed."
Dearborn, Michigan-based Ford said in a statement, "We do not want to comment on speculation."
"Our relationship with Mazda has not changed," Ford said.
The move, should it happen, would be a symbolic retreat for U.S. automakers in Japan. General Motors Corp. similarly sold off its stakes in Japanese automakers in recent years.
Selling shares of Mazda, which makes the RX-8 sports car and Miata roadster, would furnish Ford with cash as it tries to turn around its business.
Ford has struggled amid a drastic downturn in U.S. auto sales, burning through nearly US$11 billion of its cash stockpile in the past year. It reported its worst-ever quarterly loss of US$8.7 billion in the second quarter.
Speculation has risen that Ford may file for bankruptcy, although it has denied that. Ford`s stock price has also suffered, plunging to its lowest level in 25 years.
Ford formed a capital alliance with Mazda in 1979, taking a 25 percent stake. That was raised to 33.4 percent in 1996 - a controlling share in Japan.
Over the last decade, Ford helped engineer a turnaround at once-struggling Mazda, sending executives and sharing technology and auto parts to cut costs.
Mazda, Japan`s fourth-biggest automaker, has been a bright spot in Ford`s otherwise-gloomy fortunes of late. Mazda posted a six-fold surge in profit in the April-June quarter.
In an interview with The Associated Press in Detroit on Friday, CEO Alan Mulally denied Ford was about to run out of cash.
Mulally did not rule out asset sales as a way to raise money, but did not refer to Mazda specifically.
"Cash is really, really important, so we are managing that very carefully," Mulally said.
...
In reply to:
No one is too big not to fall
Posted by : sambala
Another concern is that the leverage in GE could be much higher than stated. Egan-Jones, an independent rating agency, calculates that GE is levered ten-to-one, a more conservative and higher number than the company`s eight-to-one figure. Cofounder Sean Egan believes that, depending on the off-balance-sheet holdings, actual leverage could be still higher. His firm rates the company single-A.
In addressing these many uncertainties, Immelt has hammered home the message of GE`s commitment to its sacred triple-A rating. He took several steps to conserve capital, such as deciding not to increase the dividend next year and suspending the stock buybacks; Moody`s (in which Buffett`s Berkshire Hathaway is the largest shareholder) and Standard & Poor`s immediately reaffirmed their ratings on the company.
But Immelt may be fighting a battle that investors no longer care so much about. The credibility of bond ratings in general tumbled when it was revealed that securitized subprime mortgages had been rated double- or triple-A. GE`s rating clearly meant nothing to investors who bid credit default swaps on company bonds up to a price of 700 basis points (the price subsided recently to about 500). Remember, triple-A means creditworthiness on a par with that of the U.S. Treasury, and credit default swaps on Treasury bonds have never traded above 35 basis points. The message of the markets: The rating agencies can say what they like; we`ll decide for ourselves.
Recent events raise the question of whether Immelt`s job is safe. The stock is down by half since he took over in September 2001, one reason the company has lost a number of excellent executives. A source close to the board says it still supports him, and he has done a good job of involving directors in major decisions. They regard the present crisis as a 100-year flood that Immelt is managing about as well as anybody could.
He may take solace in the story of Reg Jones, GE`s chief from 1972 to 1981. The stock, adjusted for inflation, went nowhere during his tenure. But it was a terrible era for stocks generally, and just before he retired, Fortune asked the Fortune 500 CEOs to name the company and the CEO they admired most. The winners were GE and Jones.
Whether Immelt and GE can ride out the current crisis with their reputations intact is unknowable at the moment. But given that the company is a microcosm of the world`s economic health, we`d all better hope that they can.
By Geoffrey Colvin
Tracked by: 1 Boarder
Your position is created by you without your valuation of repayment capacity. so you should not complain others for your fault. Rectify it by your self and not on others position....
In reply to:
Has your confidence in equities been shattered?
Posted by :
Manmohan Sharma
Dear Friend, I am not at all convinced with what you are saying. Whenever you are gaining the speed you should be aware of the controls also and that is what is lacking and which has resulted in to lot of problems. For a moment look at the micros of economy, a person getting a salary of Rs. 10,000 PM is having 5 credit cards, two personal loans and 1 auto loan. Do you think his repayment capacity is fairly assessed by the banks/financial institutions? Look at the property prices 100% growth in a just 6 or 12 months!!!!. Do you think it is justified and is truely a function of demad and supply. Should i assume that demand has gone up by 100%? This is really unfortunate there are no regulations or control in any economy to have a check on these things. In a small deal of 10 lacs of property 8 lacs are demanded off the record as black, what would you say to it? These all things are the hints at micro level that there is something wrong going in the economy. Just to share an example of a famous private sector bank which gave a loan to the buyer of a house of Rs. 15 lacs where property value was 20 lacs, after six months the property was again sold at 30 lacs and banks approved the loan of 25 lacs to the new buyer. The same property was again sold at Rs. 40 Lacs six months later and bank financed at 32 lacs. Can anybody tell me what is criteria of the bank to assess the value of the property. Which criteria can justify that property prices have shoot up more than 100% im 12 months. This has raised the serious problems and which will ultimately result in to defaults and NPAs.
I dont beleive that these are internal problems, infact these are very serious problems which need to be addressed by the goverment which is really lacking any law and regualtions on the speculator, be it share market, property, crude oil prices or even commodity prices. The goverment, financial institutions, investment banks and even the investors should take a lesson from this crisis which is not due to any uncontrollable factor but is due to the lack of regulation in economy.
I have very firm beleif in Indian economy and stock market but it really needs some sort of attention of the goverment and regulating authorities
Thanks
Tracked by: 1 Boarder
Market entered for investment climate though no fully satisfied but will bring super return in long term (12 Months) though some negative elements still exists. India is best place for investment and FIIs will turn asbuyers very soon. One should capitalise the opportunity in stock market. BUY LOW SELL HIGH BOOK PROFIT Happy Deepavali greetings for one and all for best light power and force....
In reply to:
Has your confidence in equities been shattered?
Posted by : MMB Messenger
Dear Boarders,Do let us know your views and opinions on the poll.-MMB Messenger
Tracked by: 110 Boarders
As far as I concerned....they who ever they are told us that us dollar was dead..... not true.....look its live n kicking ass...Opec is getting banged both ways oil is loosing ground and there cash reserves on euro have lost at least 25%..... + watch real estate to get hit hard in middle east..... they told me oil will hit 200 +.... not true...top Russian oil stock holders have lost billions... Russian stock market is halted attleast 10 times ....... they are telling me gold is safe haven that will also prove to b wrong ... just like oil gold sellers will not know how to exit......They have bring on a manufactured credit squeeze to force sell equity shares .... and that`s what I will buy only. .... folks its time to defend yourself and not give in to this nonsense......
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : BullSheetRules
Dear pkjattking,
For DOW, 7400 is the LONG TERM Support. So effectively, Dow in this range of 7400-8400 should result in DIRT Cheap prices for many stocks unless DOW would like to go for a TOSS! :)
Gud luk & happy investing! :)
Tracked by: 110 Boarders
Guess who is managing that 700 Billion Bail Out package. Read below and spread the word.
Neel Kashkari was selected by Treasury Secretary Hank Paulson to oversee the bailout program:
1. Neel Kashkari - 35-year old Indian-American whiz
2. Neel Kashkari, an assistant secretary of international affairs and a former Goldman Sachs banker
3. Kashkari has been a close adviser to Treasury Secretary Henry M. Paulson Jr. on the credit crisis and helped draft the legislation for the massive rescue plan.
4. Kashkari is one of nearly half-dozen Indian-Americans, including Louisiana Governor Bobby Jindal, who have served in the Bush administration at Tier Two cabinet levels.
5. Kashkari was nominated as assistant secretary and confirmed by the Senate in July this year.
6. Kashkari has a bachelor`s degree in engineering from the University of Illinois at Urbana-Champaign
7. Kashkari earned his master`s degree in aerospace engineering.
8. Kaskari worked as the R&D Principal Investigator at the company TRW in Redondo Beach, California
9. He did his MBA at Wharton School of the University of Pennsylvania
10. He then joined Goldman Sachs in San Francisco.
11. Neel Kashkari`s parents hail from Jammu and Kashmir, India.
12. Neel was born in Akron, Ohio to Chaman and Sheila Kashkari, Indian immigrants.
13. His father Chaman Kashkari, who taught at the University of Akron, is now a retired professor of engineering
14. His mother Sheila Kashkari is a pathologist.
15. Neel’s wife Minal works for defense contractor Lockheed Martin.
...
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : BullSheetRules
Dear pkjattking,
For DOW, 7400 is the LONG TERM Support. So effectively, Dow in this range of 7400-8400 should result in DIRT Cheap prices for many stocks unless DOW would like to go for a TOSS! :)
Gud luk & happy investing! :)
Tracked by: 110 Boarders
I was just watch Mr Udayan it seems like if he is having hard time breathing or his throat is dried up... will some one give him a glass of water plz..... on the other hand Mitali seems to b giggling a bit....lol...
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : BullSheetRules
Dear pkjattking,
For DOW, 7400 is the LONG TERM Support. So effectively, Dow in this range of 7400-8400 should result in DIRT Cheap prices for many stocks unless DOW would like to go for a TOSS! :)
Gud luk & happy investing! :)
Tracked by: 0 Boarder
There is a global meltdown and it’s a terribly gloomy picture all across. Asian markets slumped on Wall Street cues. Crude has fallen below USD 86 pre barrel and is now trading at USD 82.15 per barrel on demand concerns. Gold prices plunged on demand concerns....
Tracked by: 110 Boarders
Dear vam_ru,
Downside is limited to 3050 in current situation. however, Upside is capped at 3700 /4100
Technically, both DOW and Nifty deserves some upward RALLY, however, I expect Nifty to go below 3000 level over a longer time frame if those BS FIIs continue with that MAD SELLing.
So, PLAN your GAME accordingly.
Gud luk & happy investing! :)...
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : vam_aru
Dear BSR,
Welcome back, i too expect the markets to stable around 2900 to 3000 levels , If there is any slight rallies in the coming week will be unfortunately will be sold off...
Tracked by: 110 Boarders
Dear BSR,
Welcome back, i too expect the markets to stable around 2900 to 3000 levels , If there is any slight rallies in the coming week will be unfortunately will be sold off...
...
In reply to:
WILL NIFTY HIT 3600 & SENSEX TOUCH 12000
Posted by : BullSheetRules
Dear lovemeall26,
In my BS opinion, You have explained different situations correctly.
Just for info: I am SHORT on Nifty! :)
Over a longer time frame, I expect Nifty continue to come down and stablise under 3000 level unless DOW make some kind of immediate UPTREND above 10000 level.
You may find a bit SCARY to know what kind of level I am looking for building those LT investment portfolio. :) Just to give an idea: IFCI about 12-15 level, Nagarjuna around 12-14 level, Renuka around 18-22 level.
If I do not see those counters coming to my price level target, then I will PLAY as per PLAYers PLAYing the GAME!
This is like I will invest in a new home in real estate only when a flat of 1 crore CRASH to a price of 20 lakhs first and then will see the new developments / situtations! :)
I hope that clears some BS points as far as building those LT investments are concerned!
Gud luk & happy investing! :)
