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A Lion’s eye on the Bulls and Bears

“In India, companies may fall sick, but promoters rarely do!”

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February 6, 2009

IPL Cricket Auctions just concluded…Guess What !? M Mortaza of Bangladesh with a base price of US $ 50000,goes for US $ 600000 !

42 Players were up for auction in this Second Edition of the IPL Cricket T-20 in India….A lot of them were just not bid for

As was expected,English players,Kevin Pietersen (Base Price of US $ 1.35 m) and Andrew Flintoff (Base Price of US $ 950K) were snapped up for a record US 1.55 Million apiece by Bangalore and Chennai respectively.Last Year Dhoni had a price tag of US $ 1.5 m

What was not expected and has raised serious questions is how M Mortaza,fast bowler from Bangladesh,with a base price of just US $ 50000,was bid for so intensely by Punjab Kings and Kolkata Knight Riders,with the latter winning the bid at a very high US $ 600000

Mortaza’s High Bidding defies Logic and is not rational…It just does not make any cricketing sense !…Then what ‘sense’ does it make….your ‘BET’ is as good as mine !

Feel Free to ‘Chuckle’ at the Categories I have put this Blog under !

Bank of America…Bubble ?…Bankrupt ?….Breaking Down ?….Going ? …Going?….Gone?

A year ago,USA’s biggest bank ,Bank of America quoted at US $ 43.Yesterday is sank below US $ 4  and recovered to close at US $4.84…down 66 % in January alone this year

Market Cap has sunk below US $ 31 Billion…Bloomberg puts it rather tongue in cheek…One share of Bank of America will not even buy you a Big Mac in New York City.The Big Mac Meal costs US $ 6.59 at McDonald’s in midtown Manhattan

Bank of America received a US $ 45 Billion bailout package from the US Government late in 2008….It awaits and expects more

But what has it done with this US $ 45 Billion !?…Let’s  see

  • It Invested US $ 15 billion to double it’s stake in state owned China Construction Bank
  • For Assets of just US $ 100 million it paid US $ 2.5 billion to Countrywide

It’s buyout of Merill Lynch is already turning bad 

Like Citigroup,Bank of America could also be on it’s way to be broken up to split it’s US $ 1.8 Trillion Assets and 243000 Employees

A Sinking Share Price indicates clearly something BIG IS WRONG WITH BANK OF AMERICA….It appears that Federal Investigators are currently all over the Bank of America  confronting it’s CEO,Kenneth Lewis with chilling evidence of huge mismatch between assets and liabilities and a severe Liquidity Problem that is threatening it’s solvency and survival

Isn’t BOA,a Constrictor !?…It seems the acronym,BOA is a Self Constrictor !  

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