In December 2011 ,Morgan Stanley had OnMobile Global @ 66 as a Wealth Creator Idea ! as they did ,along with Enam, Jain irrigation too at Rs 120 + ~ Both have sunk 50% inside Nine Months even as Sensex and Nifty have held on!
Any Idea Any one what are they saying about these now ~ with OnMobile Global at Rs 37 and Jain Irrigation at Rs 61 ! ?
I’m not bashing them,but then I found their research and due diligence severely lacking when they strongly recommended these for Investing ~ I’m assuming they did not have any vested interest in doing so ~ That would be beyond being just unethical !
At the time I had put OnMobile on Scrip Watch as I needed Fundamental conviction though Technical Guys were also recommending it strongly ~ For Jain Irrigation I had strongly differed on the strong bullishness of both Enam and Morgan Stanley and voiced strongly to short it (not on the Blog but to Clients under Advisory) as they were facing mounting Debt pressures as Maharashtra & Andhra State Governments were simply not releasing Subsidies
Corporate Governance issues are playing up in both and those experts on TV who are now predicting a bounce back in Jain Irrigation may just be living on Hope ! ~ probably they too had recommended this strongly! ~ Jain Irrigation has just announced plans to raise US $ 200 million
So best of Luck to all those who Blindly Follow the Big Guys ~ & those Experts on TV who have run through the 4000 BSE Listings already !~ they are being paid in lakhs for you to lose lakhs !~ so it seems !