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Q&A: Marc Faber, Global investment analyst 'The next crisis will be worse than the one in 2008' Jitendra Kumar Gupta / Mumbai September 13, 2011, 0:28 IST A renowned global investor and author of The Gloom, Boom & Doom report, Marc Faber , believes the BSE Sensex may not go down to the 8,000 levels, but it would come down from the current levels. He spoke to Jitendra Kumar Gupta on gold prices and the economic crisis, which he believes could be bigger than the one seen in 2008. Edited excerpts: About six to eight months earlier, many economists were saying a dollar crisis may only be seen by 2012 or 2013. Is the time shortening, in the light of renewed concerns over the US and EU economies? We never really had a recovery in the Western world. The stock markets went up because of the money printing and support in 2009. My view is that they can probably muddle through for another two-three years by piling up the fiscal deficit or printing more money. I d...

Mr. Rakesh Jhunjhunwala, combines diverse skills as a equity trader, visionary investor and incubator of new businesses through private equity.He is the first dollar billionaire from India to have made all his money by investing–primarily in stocks.Converting Rs 5000 to a billion dollars is no mean feat.Moreover since he deals exclusively in Indian stocks and often in publicly traded companies, whose shares we all have access to,it’s well worth spending time learning how to invest one’s way to wealth from him.

http://jitendrakumargupta.blogspot.com/p/my-readings.html

http://www.business-standard.com/india/news/qa-ajit-dayal-director-quantum-advisors/441655/ Jitendra Kumar Gupta / Mumbai July 6, 2011, 0:54 IST Ajit Dayal , founder director, Quantum Advisors, on why investors should hold gold, the status of recovery in the US, euro zone issues, its impact on India and the themes to invest, in an interview with Jitendra Kumar Gupta . Edited excerpts: Does your bullish view on gold still hold, given that we have already seen a huge rally? The argument for investing gold has not changed. As long as the world’s central banks, led by the US Fed, is willing to print money irrationally, investors should be buyers of gold. Gold is a currency. We have been brainwashed into believing it is some sort of asset like a stock or a bond, that must give us some dividend yield or some capital gain on a continuous, daily basis.

http://www.smartinvestor.in/market/exptspks-82421-exptspksdet-Second_rung_consumer_stocks_are_fairly_cheap.htm While Indian markets are range-bound, there are some uncertainties globally which include the US reaching its debt ceiling early next month. Domestically, events like RBI’s policy meeting on Tuesday and talks of FDI in retail sector are also keeping markets in a wait-and-watch mode.  Jitendra Kumar Gupta  speaks to  Ramesh Damani , member, BSE on these issues. Excerpts: Led by the optimism about falling commodity prices and that inflation rate might fall some time later in the year, people believe the markets could be better in the second half. Your comments. They are looking for a better second half. I am also in that camp. I will choose to be in bullish camp but I think the market needs to spend another 3-6 months in a consolidation zone. Generally, timing the markets is very hard. Only at the extremes of the markets, when they are over bought or oversold,...

Q&A:   Bruce Greenwald, Professor & Investing Expert 'Value is in cheap, obscure and disappointing stocks' Jitendra Kumar Gupta / Mumbai April 26, 2011, 0:49 IST Bruce Greenwald   is a professor at Columbia University’s Graduate School of Business and Director of Research at FirstEagle Funds. Called ‘a guru to Wall Street’s gurus’, he is a recognised authority on value investing. Edited excerpts from an interview with   Jitendra Kumar Gupta : Many people focus on the revenue statement or earnings. How important is the balance sheet and what does one look for as a value investor?   The balance sheet is more important than the income statement for value investors, since it provides more reliable valuation information, that does not depend on projecting the future. The exception to this rule is the case of franchise businesses, where long-run earnings depend on competitive advantages, not just assets. As a value investor what is the starting po...

The last year was reasonably good for the Indian markets. But, with macro headwinds picking up, 2011 could be different. Jitendra Kumar Gupta spoke with Tridib Pathak, senior director, equities, IDFC Mutual Fund, about his expectations from the markets in the current year, the concerns and the earnings outlook, among other things. Excerpts: What do you read into the sharp fall in the markets in the last couple of trading sessions? And, to what extent will this correction continue? The correction is largely due to domestic macro factors led by high inflation and further expectations of interest rates going up. Also, the fact that the current account deficit and crude oil prices are high. If inflation and international commodity prices don’t come down fast and if we (India) are forced to increase interest rates further, then it could have an impact on growth, leading the markets lower.

Send me your feedback or suggestions at jitendragupta2001@gmail.com Indian equity markets’ risk premium, which is used to gauge how much additional returns investors want from the markets over and above the risk-free rate of return, is on upward trend due to increasing concerns over interest rates, commodity prices, political uncertainty and rising crude oil prices. Following these events, research houses, especially international, have increased their equity risk premium for the Indian markets, which now stands at about 6-8 per cent compared to around six per cent at the start of the year. In the light of these events, the cost of equity, too, has gone up and the markets which were seen to be in fair value zone are now perceived to be expensive.

'Sugar output may remain in line with projections' Jitendra Kumar Gupta / Mumbai http://www.business-standard.com/india/news/qa-peter-baron-international-sugar-organisation/424733/ International sugar is trading at a 30-year high due to several supply-side issues. To understand the sector’s global and domestic concerns, Jitendra Kumar Gupta spoke with Peter Baron, executive director, International Sugar Organisation (ISO), which closely tracks global developments pertaining to the industry Sugar prices rose to a 30-year high in New York, led by worries over a cyclone in Australia, the third-largest exporter. Also, India may not export sugar, contrary to what was expected. In this light, what is your view of the global supply and demand for this and the next season? Fundamentals remain tight. ISO plans to release its second revision of the world sugar balance estimates for 2010-11 by the end of February. Preliminary figures show a further reduction in the gl...

Ramesh Damani focuses is on the wisdom of Dalal Street, as he discusses the fork law, the sayings and the war stories of the street with two veteran watchers of the market—N Jayakumar of Prime Securities and Madhu Kela of Reliance Capital. Here is an excerpt of the interview. Also watch the accompanying video. Q: I started this as a Dalal Street maxim and the one thing that I always remember even when I was younger walking to Dalal Street was all the Gujarati community which tends to populate the street "Bhav Bhagwan Che". Tell me about that.

The panel comprises of UR Bhat, MD of Dalton Capital Advisors and Ajit Dayal , Chairman of Quantum AMC. Here is the verbatim transcript of their comments. Also watch the accompanying videos. Q: Can you give me a bio of Peter Lynch, one of the most revered fund mangers of our time? Dayal: He is a legend. He was the fund manager for the largest fund at that time Fidelity Magellan and wrote a phenomenal book that investors should read is called, ‘One up on Wall Street’. In the book, he just uses common day experiences to explain what stocks could be interesting to own and what stocks may not be interesting to own.

Life is a game and all you have to do is to know how to play it. No one has played the investing game better or bigger than Rakesh Jhunjhunwala , Partner, Rare Enterprises. He has parlayed a few thousand dollars into a few billion dollars. He lives his life king size. In an candid chat with financial expert Ramesh Damani in a CNBC-TV18's special RD 360, stock market veteran Jhunjhunwala advises looking into stocks that are not very popular. "Never in my life have I not made an investment because the stock is not popular. In fact I like to make the investment when the stock is not popular." Here is a verbatim transcript of his interview. Also watch the accompanying video. Q: Your life in the stock market is over 25 years and there is the trading side of you and there is the investing side of you. There is the general philosophy. Let us start with the trading part of you because a lot of people know that you are a very active trader and you love trading markets always,...

http://mobius.blog.franklintempleton.com/2011/01/21/addressing-concerns-about-a-two-track-world/

Link for my earlier interview with Marc Faber http://smartinvestor.in/market/story-20156-storydet.htm Since you have been tracking so many crisis and bubbles would like to know what is common about them? The most common point about every crisis is that in that period there was excessive debt growth, excessive credit growth, excessive leverage and excessive speculations that came about because of the excess credit growth. But the Federal Reserve does not seem to understand that. That is the most common. The other point I would like to mention is that during such crisis, governments should actually do nothing and let the market adjust from the downside. This is because as prices decline and drop, the affordability improves again and at some point buyers come in and as a result the system is cleaned. However, if governments intervene with fiscal and monetary measures as the US has done, it sows the seeds for the next crisis. The crises in the post 1980s period such ...

'We expect India's sustained growth to continue' Jitendra Kumar Gupta / Mumbai January 20, 2011, 0:24 IST Mark Mobius, known for his value-investing style and deep understanding of emerging markets, currently heads Franklin Templeton Investments as its executive chairman, Templeton Emerging Markets Group. He shared his views with Jitendra Kumar Gupta on various issues, including Indian markets, benefits from the country’s changing demographics and key risks for emerging markets. Edited excerpts: What’s your view about India as an investment destination? We expect the Indian equity market to continue attracting interest from local as well as foreign investors. This is because India’s economy is expected to continue to record sustained economic growth. Over the long term, the growth rate of India should offer a good platform for Indian companies to deliver stellar results. India has one of the largest populations in the world and, thus, represents a huge ...

In a CNBC-TV18’s special show RD360- Money Making Maxims, Ramesh Damani , Member of BSE discusses the life and sayings of Benjamin Graham with two finest fundamental analysts and practitioners of Graham’s way of investing, Sanjoy Bhattacharya of a Fortuna Capital and Chetan Parikh of Jeetay Investments.

http://mobius.blog.franklintempleton.com/

The last year was reasonably good for the Indian markets. But, with macro headwinds picking up, 2011 could be different. Jitendra Kumar Gupta spoke with Tridib Pathak, senior director, equities, IDFC Mutual Fund, about his expectations from the markets in the current year, the concerns and the earnings outlook, among other things. Excerpts: What do you read into the sharp fall in the markets in the last couple of trading sessions? And, to what extent will this correction continue? The correction is largely due to domestic macro factors led by high inflation and further expectations of interest rates going up. Also, the fact that the current account deficit and crude oil prices are high. If inflation and international commodity prices don’t come down fast and if we (India) are forced to increase interest rates further, then it could have an impact on growth, leading the markets lower.

New update "For trading i look at technicals, which are essentially price movements. when price movements confirm my thought process, i buy aggressively. The sheer feeling that the markets have bottomed out or that the fundamentals and valuations are favourable is not enough" for entire series click here

Ramesh Damani “The most crucial thing that i learnt was that, in stock market you have to paint your own canvas” The Guiding Star RD360 In a CNBC-TV18’s special show RD360- Money Making Maxims, Ramesh Damani , Member of BSE discusses the life and sayings of Benjamin Graham with two finest fundamental analysts and practitioners of Graham’s way of investing, Sanjoy Bhattacharya of a Fortuna Capital and Chetan Parikh of Jeetay Investments. Click for RD360   Live video with Sanjoy Bhattacharya of a Fortuna Capital and Chetan Parikh of Jeetay Investments.   Ramesh Damani and Rakesh Jhunjhunwala Life is a game and all you have to do is to know how to play it. No one has played the investing game better or bigger than Rakesh Jhunjhunwala , Partner, Rare Enterprises. He has parlayed a few thousand dollars into a few billion dollars. He lives his life king size. In an candid chat with financial expert Ramesh Damani in a CNBC-TV18's special RD 360, st...

http://mobius.blog.franklintempleton.com/

Q&A: Raamdeo Agrawal, Motilal Oswal Group '12-15 per cent correction is very likely' Jitendra Kumar Gupta / Mumbai December 28, 2010, 0:24 IST Several scams that came to light recently have led to a correction in the equity market and left many clueless about the future direction. That apart, there are several concerns like inflation and rising interest rates that still persist. Jitendra Kumar Gupta  spoke to Raamdeo Agrawal , Joint Managing Director, Motilal Oswal Group on the occasion of unveiling of the group’s 15 th  Annual Wealth Creation Study on these issues, the market’s valuation as well as future prospects and the opportunities to gain from. Excerpts: