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The Laal Street Journal

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Tete-a-tete with Chameli 

(TLSJ reporter)

TLSJ had this exclusive interview with Ms. Chameli on various issues of global & local importance….

Few excerpts……

TLSJ: Ms Chameli, thanks for talking to us on this exclusive chat show.

Chameli: Yeah, okay Sir. Shoot your questions fast & chat quickly as I’ve other clients to attend to.

TLSJ: Firstly your comments on situation in the US….I mean the financial crisis that started with sub-prime & MBS (Mortgage Backed Securities).

Chameli: Mister, one correction….those MBS actually mean MBA Backed Stupidity. I just fail to understand that how come those high IQ MBAs from Harvard & other premium institutes behaved in lemming like fashion to create such a mess. Now I know why those investment banks preferred to recruit crème de la crème from India especially IIT+IIM types.

TLSJ: Why?

Chameli: Perhaps to engineer the bankruptcies in newer innovative ways. Having said that let me make it clear that I’ve nothing against IIM grads & some of them have been my good regular clients. However, I also feel that Dr Doom is quite right when he says that :"Short the industries which are currently popular with Harvard MBAs" Look at the colossal mess created by those highly talented iBankers. You know that there are two sides to a Balance Sheet- Left & the Right (Liabilities and Assets respectively) and because of them now on the Left side there is nothing right.....so naturally on the Right side there is nothing left.

TLSJ: Ahem...what about bail out package of US$700B? The US House of Representatives voted against it last night.

Chameli: Is that so? So, politicians are the same everywhere. Anyhow I don’t understand how that temporary bail out will really solve their problem. By the way, I have decided not to sleep with US & EU policymakers.

TLSJ: Any particular reason?

Chameli: Because, nowadays whenever they see big hole, they just nationalize those assets.

TLSJ: Hmmm…. Coming back home, do you feel that our markets have bottomed out?

Chameli: You should know that nobody can predict the bottom. Now for example you won’t be able to see my bottom unless I get up & walk past you, right? Similarly market bottoms are best seen only in the rear view mirror with hindsight bias.

TLSJ: Still what’s your view on Indian stocks?

Chameli: Look at the pessimism in retail investors for clues. I feel some optimism still exists. But apart from sentiments, the business environment has become challenging in terms of costs, capital etc. Some of my corporate clients say that maintaining growth isn’t going to be easy. Only in those brokers’ & iBankers’ research reports the business grows in a linear fashion. I wish life in reality was as simple as those excel sheets & powerpoint presentations. Having said that I’m positive on Indian stocks with a 4~5 years timeframe. But not many investors have patience as all they want is to produce a baby in one month by getting nine women pregnant.