Reproducing with her permission an email received this morning, from a veteran stock market investor and a keen market observer for years and a friend, venting her feelings on Insider Trading and Market Manipulations in Indian Stock Markets
She is Mayuri…and could teach a thing or two to some fresh “I know it all” or “I want instant fame and richness” young anchors and reporters who keep popping up on the stock channels and who have no idea of our market legacy as they were not even born then and who get visibly overawed by Promoters and Corporate Honchos who shower their largesse on them in many ways !
I value her market insights as they are well founded …she is currently holidaying in USA and emailed me this morning…..and when I sought her permission to reproduce it on my blog while assuring her of protecting her privacy,this is what she replied :
“u can put my name …no problem rather rise than be a nameless identity” …we need more market voices like Mayuri
How have u been? Where is the market taking you from here? I am in California and have just heard the case of insider trading case of Raja Rajaratnam a Srilankan , founder of Galleon Hedge Fund found guilty of making 68m . Just coming to mind is the great Indian fund managers who run the mutual fund industry using all the janta money filling their own pockets on the side. Its a known fact that they buy when they market and sell stories, they buy it first.
So what is the big surprise if Anil Ambani is questioned in the telecom scam? What is the big surprise if his Rcom was rigged from 160 to 800 now in dumps ? His big time dream Rpower totally powerless after all the hype? How long do we go pardoning greed for business ambition?
All our education , the years you spend here watching the markets is such a waste if we fail to create investor awareness and cure herd mentality. We even have TV show anchors involved in insider trading and we all know that, only SEBI sleeps.
Stories hyped, placements at astronomical rates ….stocks crashing like a pack of cards…I can count stories on my fingertips. List of advisors and so on and so on.
Hope to light a lamp ….somewhere!