Alas! I came back to see my blog after a long hiatus of a year just to see that there are no comments on my write-up though a small paragraph.
Well! Thanks to the buoyant markets and the amazing bull-run, that the people are just not interested in my claim of 9.5% risk free (not tax free) interest rates (that too have decline to 8.5%).
It seems that people have forgotten what the word “gravity”. What goes up must come down is only applicable in physics.
With Reliance Power IPO getting oversubscribed within 7 minutes on the issue opening day. It’s the buzzword at all over the work place, that Reliance will make you wealthy. Sure, it has made people wealthy, but at that time the projects were already in the implementation stages (refinery basically). Today, I cant see any tangible assets on the balance sheets of RNRL or even RPL (Power). AD has lots of power in marketing public issues (Thanks to the training in the undivided RIL wherein he was handling finance).
Are we looking at the earnings picture? Balance sheets/ cash flows…of the company. Well, the technicals have really outsmarted the fundamentals. Who cares???
Lets hear...Mr. Buffets adage...."when the tide goes back.....we will see who is swimming naked"
