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Are we staring in the face of a depression in 2008?

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http://en.wikipedia.org/wiki/Great_Depression

If you look at the above link, some of the linkages are chilling. There was a liquidity crisis then too (forget what trigerred it), loans were hard to come by, banks collapsed like nine pins, unemployment soared and the US triggered it followed by a worldwide collapse (nearly 3/4 of a century ago when there was hardly any communication at today’s speed) that got rejuvenated only with the onset of the second world war. Read the rest of this entry »

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Written by Naveen Athresh

October 9, 2008 at 12:49 am

Wells Fargo makes a counter bid pipping Citi’s Pandit

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Vikram Pandit, the CEO of Citigroup is not a happy man and is frankly red faced. Their exclusivity agreement with Wachovia notwithstanding, Wells Fargo made a counter bid for Wachovia and Citi ‘which never sleeps’ was really caught napping!

Now, Citigroup (NYSE: C) has filed a lawsuit against Wachovia for trying to sell itself to a higher bidder though they (Wachovia) had an exclusivity agreement with Citi. They have a quiet period for the next few days but the arguments will begin again. Its interesting to see whether Wachovia will be split with some geographic areas and branches going to Citi while the rest go to Wells Fargo.

Written by Naveen Athresh

October 9, 2008 at 12:29 am

Security analysis: The classic 1934 edition – Benjamin Graham

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http://www.amazon.com/Security-Analysis-Classic-Benjamin-Graham/dp/0070244960

I finally managed to get hold of this book before the book stores could so I beat them! I now need to read this book that is regarded as the Bhagvad Gita of value investing. I will treat it as my textbook on value investing.

It will be heavy on the head so will wrap up my read of the Intelligent investor that is a less complicated approach to the same principles listed in the Security analysis.

Meanwhile, Alan Greenspan has to wait as I wrap up reading up on my legend’s (Warren Buffett’s) legend – the great legendary Benjamin Graham!

Re-reading The intelligent investor by Benjamin Graham

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I had not got on the pace the last time I tried to read up this book. Its the easier version of Ben Graham’s Security analysis. I tried checking at bookstores all over Bangalore for this book i.e. Security analysis, the classic 1934 edition – Gangarams, Strand and the Landmark, Forum Mall – but did not get it at any. I have ordered it from them even if it costs money and is a foreign print/publication but its to be seen if their reach is better than mine.

I will post review of my combined practice once I am done – as mentioned earlier, it would be based on learnings that translate into future earnings!

Wrapped up reading the Snowball – biography of Warren Buffett

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I did 900 pages of straight  reading in 5 full days to wrap it up – review will follow by virtue of  learnings. Scintillating book!

US Senate approves $700 billion bailout package

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As also the 123 nuclear cooperation deal with India on the same day. So, this opens up a multi-hundred billion dollar opportunity for US TNC’s (nuclear deal) and the $700 billion bailout package to rescue struggling Wall Street companies.

Written by Naveen Athresh

October 2, 2008 at 1:47 pm

Why am I crazy about Wall Street/US monetary policies?

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Simply because, it has a huge impact – no matter where you are in this world!

What happens out there impacts every single country in this world. It impacts you you and you. It impacts the decision making we make on our jobs etc. It impacts our local domestic economy. No matter how much we claim of ourselves being insulated from Wall Street, the truth is its just an eyewash. We will all get affected by the mayhem on Wall Street and the effects take at least 6 months to trickle into economies such as India and China. This is what happened in the dot com bubble burst of late 2000. Read the rest of this entry »