A true weird story
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Printed Date: 19/Apr/2025 at 8:23pm
Topic: A true weird story
Posted By: Monkey
Subject: A true weird story
Date Posted: 05/Dec/2009 at 3:56pm
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I never thought such thing would be possible until I read this. A true weird story.
http://online.wsj.com/article/SB125996714714577317.html?mod=article-outset-box - http://online.wsj.com/article/SB125996714714577317.html?mod=article-outset-box
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Replies:
Posted By: Hitesh Shah
Date Posted: 05/Dec/2009 at 4:03pm
This link was guzzling my (limited) broadband so I guess I'll never know  ------------- |
Posted By: chimak10
Date Posted: 05/Dec/2009 at 4:09pm
| Wow cool guy.........127 million big ones. |
Posted By: Monkey
Date Posted: 05/Dec/2009 at 5:04pm
Hitesh bhai,
In short, this is story of a guy who lost USD 127 million in one year gambling in Vegas (which was most of his fortune). He made such big money over two decades by importing plastic trinklets from Asia and selling such items in US.
Story in the link gets more interesting with details on various policies of casino, how they run their gambling "business" and how they take "care" of their big customers to ensure that the customer go bankrupt.
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Posted By: manishdave
Date Posted: 05/Dec/2009 at 7:33pm
Cool guy or fool guy? "A fool and his money are soon parted." I don't get why rich ppl gamble. Poor has hope to get rich but rich only has possibility of getting poor. |
Posted By: Monkey
Date Posted: 06/Dec/2009 at 8:24pm
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Posted By: Monkey
Date Posted: 08/Dec/2009 at 9:13pm
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I find PIK notes quite weird. "PIK" means "Pay In Kind". Company borrowing money by issuing PIK notes, pay interest by issuing more PIK notes and not by paying cash. It is wonder of wonders that a market for buying and selling such instruments exist. See report below from Bloomberg
http://www.bloomberg.com/apps/news?pid=20601087&sid=apBowcmAqZ.s&pos=6 - http://www.bloomberg.com/apps/news?pid=20601087&sid=apBowcmAqZ.s&pos=6
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Posted By: Monkey
Date Posted: 20/Jan/2010 at 6:14pm
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Without any comments!!!
http://www.theonion.com/content/news/dubai_debt_crisis_halts_building - http://www.theonion.com/content/news/dubai_debt_crisis_halts_building
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Posted By: Monkey
Date Posted: 19/Mar/2010 at 11:23pm
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http://www.bloomberg.com/apps/news?pid=20601087&sid=apHGS7uJom8Q&pos=2 - http://www.bloomberg.com/apps/news?pid=20601087&sid=apHGS7uJom8Q&pos=2
What I fould weird is title "US stocks decline on India's first rate boost since July 2008".
I wonder why about 50 point loss in Dow during opening trade can be attributed to RBI. It is simply weird.
On a side note, I think RBI is already behind the curve and better it catches up with ground reality if it wants to avoid asset bubbles in equity and property market and rein in continuous high inflation.
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Posted By: Rehan
Date Posted: 20/Mar/2010 at 11:33am
I think the worlds centre of gravity is shifting towards India. RBI has more hold over US and the world mkts like Fed had on Indian and the world till few years back on . bodes well for India.
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Posted By: manishdave
Date Posted: 21/Mar/2010 at 12:07pm
Not completely weird. Dow was up for eight strait sessions. One of the reasons was lower rates for 'extened' period. RBI reminded them that rates can go higher too. Fed is ending its $1.25t mortgage purchase program this month. But treasury still need to suck money. 2011 is going to be interesting. |
Posted By: Monkey
Date Posted: 21/Mar/2010 at 2:29pm
Manish bhai,
I get sense that Fed would have to continue monetising one way or other. The fresh borowing requriement by treasury as well as rolling over of maturing debt, both put together in order of USD 3 trillion, is quite big. If Fed does not monetise, this level of borrowing would take interest rates through roof killing the recovery. If Fed ends quantitive easing, I will be very happy to see a grand correction in our market to allow me pick-up some more!!
I also read that average maturity of US government debt is 5 years. So, I guess that Fed would maintain very low rates for long time unless forced by currency market and / or bond market and / or inflation!!
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Posted By: manishdave
Date Posted: 21/Mar/2010 at 5:55pm
It is not as simple to just print away the problem. The Fed can control short term rate but not long term rate. If something can not go on forever, it will stop. Two interesting links here: U.S., U.K. Move Closer to Losing Rating, Moody’s Says http://www.bloomberg.com/apps/news?pid=20601068&sid=a0a8xAghPS8I What will happen to bonds if they lose AAA rating? Taleb Says ‘Every Human’ Should Short U.S. Treasuries http://www.bloomberg.com/apps/news?pid=20601014&sid=azLmks3BmQm4 |
Posted By: Monkey
Date Posted: 21/Mar/2010 at 8:53pm
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Manish bhai,
If Fed does not monetise, this kind of debt burden will bring about very painful recession which would be unacceptable to public and politicians alike, whereas monetising will equally destroy wealth but it will happen in future and via inflation which is stealth tax. So, path of least resistance for Fed is to print money and inflate away the debt. Now whether they can get away with this or not will depend on reaction from bond and currency markets. Let us see how this unfolds. We are indeed living in interesting times.
For the rates, yes, Fed conventionally controls short rates. However, key word here is "conventionally". In the environment of zero bound interest rates, Fed does have option of employing unconventional measures such as buying long dated treasuries by printed money. This is what was suggested by Bernanke in his infamous helicopter speech.
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Posted By: Monkey
Date Posted: 27/May/2010 at 2:50pm
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UP chief minister Mayawati has assets (declared ones!!) worth 87 croes, of which 11.39 crore in Fixed deposit and one property valued at 54.8 crore!!!
Source of Income? God alone knows!! Mera Bharat Mahan!!!!
http://www.indianexpress.com/news/maya-declares-assets-worth-rs-87-cr-up-from-rs-52-cr-in-07/624332/0 - http://www.indianexpress.com/news/maya-declares-assets-worth-rs-87-cr-up-from-rs-52-cr-in-07/624332/0
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Posted By: kulman
Date Posted: 27/May/2010 at 2:55pm
Does this include the Taj Mahal, Agra?
garlands recd as birthday gifts |
Posted By: Monkey
Date Posted: 27/May/2010 at 3:08pm
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I noticed that she has 11.39 crore in fixed deposit and no investment in stock market!!
Why not someone get her become TED member? That way she will be able to manage her wealth much better way. What an idea, Sirji!!
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Posted By: Monkey
Date Posted: 22/Jun/2010 at 9:29pm
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1-BHK flat in Bombay for 4.5 crore!! Read on!!
http://timesofindia.indiatimes.com/City-Mumbai/1-BHK-flat-in-Mumbai-sold-for-Rs-45-cr-/articleshow/6076922.cms - http://timesofindia.indiatimes.com/City-Mumbai/1-BHK-flat-in-Mumbai-sold-for-Rs-45-cr-/articleshow/6076922.cms |
Posted By: vinvestor2010
Date Posted: 22/Jun/2010 at 10:41pm
I think our banks if they are financing stuff like this are going bonkers. It might be a good idea to short some of them.
 What do you say??
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Posted By: LearningToFly
Date Posted: 23/Jun/2010 at 2:58pm
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These are all stories sponsored by builders. Or probably a builder is buying from another builder and selling his to the other builder in exchange by whatever price,
------------- Success... at all cost. |
Posted By: chimak10
Date Posted: 23/Jun/2010 at 3:41pm
Sir you are too eager to do this shorting thing.  
There is a interview of RJ ON ET site very recent one where he says he is bullish on property that is pure land. |
Posted By: kulman
Date Posted: 23/Jun/2010 at 3:42pm
People are counting their lakhs & crores, benchmarking their property rates against fraudulent builder cartel. A lot of irrationality is happening and the bubble is getting bigger. One can never predict where & when this irrationality will end. Perhaps the pin to prick this bubble is rising interest rates? |
Posted By: bihisello
Date Posted: 23/Jun/2010 at 3:56pm
| Meanwhile LIC Housing hits another ATH! |
Posted By: Monkey
Date Posted: 30/Jul/2010 at 2:34pm
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I liked this article!!
http://www.bloomberg.com/news/2010-07-29/americans-splurge-on-ipads-while-broke-in-new-abnormal-economy.html - http://www.bloomberg.com/news/2010-07-29/americans-splurge-on-ipads-while-broke-in-new-abnormal-economy.html
Best is this recession hit lady. Here she goes. "It is really tough now. I don't do many full-on spa days anymore."
What a trouble!!
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Posted By: gaurav12123
Date Posted: 15/Aug/2010 at 2:08pm
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Having lived a reasonably contented life, I was musing over what a person should strive for to achieve happiness. I drew up a list of a few essentials which I put forward for the readers' appraisal.
1. First and foremost is GOOD HEALTH. If you do not enjoy good health you can never be happy. Any ailment, however trivial, will deduct from your happiness. 2. Second, A HEALTHY BANK BALANCE. It need not run into crores but should be enough to provide for creature comforts and something to spare for recreation, like eating out, going to the pictures, traveling or going on holidays on the hills or by the sea. Shortage of money can be only demoralizing. Living on credit or borrowing is demeaning and lowers one in one's own eyes. 3. Third, A HOME OF YOUR OWN. Rented premises can never give you the snug feeling of a nest which is yours for keeps that a home provides: if it has a garden space, all the better. Plant your own trees and flowers, see them grow and blossom, cultivate a sense of kinship with them. 4. Fourth, AN UNDERSTANDING COMPANION, be it your spouse or a friend. If there are too many misunderstandings, they will rob you of your peace of mind. It is better to be divorced than to bicker all the time. 5. Fifth, LACK OF ENVY towards those who have done better than you in life; risen higher, made more money, or earned more fame. Envy can be very corroding; avoid comparing yourself with others. 6. Sixth, DO NOT ALLOW OTHER PEOPLE to descend on you for gup-shup. By the time you get rid of them, you will feel exhausted and poisoned by their gossip-mongering. 7. Seventh, CULTIVATE SOME HOBBIES which can bring you a sense of fulfilment, such as gardening, reading, writing, painting, playing or listening to music. Going to clubs or parties to get free drinks or to meet celebrities is criminal waste of time. 8. Eighth, every morning and evening, devote 15 minutes to INTROSPECTION. In the morning, 10 minutes should be spent on stilling the mind and then five in listing things you have to do that day. In the evening, five minutes to still the mind again, and ten to go over what you had undertaken to do. RICHNESS is not Earning More, Spending More Or Saving More, but ... "RICHNESS IS WHEN YOU NEED NO MORE" By- KHUSHWANT SINGH |
Posted By: gaurav12123
Date Posted: 15/Aug/2010 at 2:13pm
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Check this out. Have a gud laugh…read till the end if u feel u've
already read this mail, the end is the catch.. !! J Chandrababuism ( EX-Cheif minister of Andhra Pradesh) You have two cows in Vijayawada. You hook them to internet and milk them from Hyderabad . Jayalalithaism (EX-Chief minister of Tamilnadu) You have two cows. You teach them to cry,"Ammaaaaaaa..." and fall at your feet. Karunanidhiism (Cheif minister of Tamil nadu) You have two cows. You give one to your son and the other to your nephew . .Gandhism You have two cows. But you drink goat's milk. Indiraism You have two bulls. You adamantly consider them as cows. Lalooism You have two cows. You buy Rs. 900 Crore worth of cattlefeed for them. Rajnikantism You have two cows. You throw them into the air and catch the milk in your mouth. Sardarism You have two cows. You paint them both to get colourful milk. Softwarism: (Ultimate....) Client has 2 cows and u need to milk them. 1 .. First prepare a document when to milk them (Project kick off) 2 .. Prepare a document how long you have to milk them (Project plan) 3 .. Then prepare how to milk them (Design) 4 .. Then prepare what are the accessories needed to milk them (Framework) 5 .. Then prepare 2 dummy cows (sort of toy cows) and show them to the client the way in which u will milk them (UI Mockups & POS) 6 .. If client is not satisfied then redo from step 2 7 You actually start milking them and find that there are few problems with accessories. (Change the framework) 8 .. Redo step 4 9 .. At last milk them and send it to onsite. (Coding over) 10. Make sure that cow milks properly (Testing) 11. Onsite reports that it is not milking there. 12. You break your head and find that onsite is trying to milk from bulls 13. At last onsite milk them and send to client (Testing) 14. Client says the quality of milk is not good. (User Acceptance Test) 15. Offsite then slogs and improves the quality of milk 16. Now the client says that the quality is good but its milking at a slow rate (performance issue) 17. Again you slog and send it with good performance. 18. Client is happy??? By this time both the cows are aged and cant milk. (The software got old and so get ready for the next release). repeat from step 1) !!!!! |
Posted By: Monkey
Date Posted: 25/Aug/2010 at 3:14pm
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Following is from Fullermoney. It beats me why anyone would buy J&J bond and why not simply buy equity:
Johnson & Johnson sold 10-year bonds this month with a 2.95 percent yield, even though it pays a dividend equal to about 3.7 percent of its stock price.
That means an investor who buys $10,000 in J&J bonds gets back $295 annually for 10 years, plus the principal. If that investor bought 166 shares of J&J stock at about $60 a share now and held it for a decade, the annual payout would be $360 a year, plus any price appreciation in the stock and increases in dividends. J&J has increased its dividend for 48 consecutive years. |
Posted By: basant
Date Posted: 25/Aug/2010 at 3:31pm
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Guess people are not sure about the yield and the company's prospects but in that case don't bonds run the risk of bankruptcy? I think its all a case of sentiment rather then reason. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: Monkey
Date Posted: 12/Sep/2010 at 9:33pm
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I don't know what to say!!
http://advisorperspectives.com/commentaries/pi_091010.php - http://advisorperspectives.com/commentaries/pi_091010.php
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Posted By: Monkey
Date Posted: 22/Nov/2010 at 8:25pm
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Something may be wrong somewhere but interesting neverthless
http://www.zerohedge.com/article/entitlement-america-head-household-making-minimum-wage-has-more-disposable-income-family-mak - http://www.zerohedge.com/article/entitlement-america-head-household-making-minimum-wage-has-more-disposable-income-family-mak
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Posted By: PrashantS
Date Posted: 23/Nov/2010 at 6:49pm
yes that is right stocks can go up again but bonds they become wall hanging since they are not backed by anything that is the real reason for debt crisis which is the real movie btw goldman issued 50 year bond recently for 6 % yield bond mkt is the biggest disaster waiting to happen around the world 
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Posted By: excel_monkey
Date Posted: 23/Nov/2010 at 7:20pm
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I think nothing will happen
the world has a valve called hyperinflation which will normalize all soughts of mispricing
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Posted By: garun1980
Date Posted: 23/Nov/2010 at 10:18pm
Yes but that valve itself will bring carnage to financial assets. It might just be ideal for commodities though. ------------- Back in school!! |
Posted By: Monkey
Date Posted: 24/May/2011 at 2:33pm
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I find this simply unbelievable!! Spending close to 11 Cr for protecting Kasab!! Have we gone nuts? We are probably the first & only country who would do this!!
http://timesofindia.indiatimes.com/india/Guarding-Kasab-Maharashtra-govt-gets-Rs-10cr-bill/articleshow/8553461.cms - http://timesofindia.indiatimes.com/india/Guarding-Kasab-Maharashtra-govt-gets-Rs-10cr-bill/articleshow/8553461.cms
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Posted By: rinkumalpani
Date Posted: 24/May/2011 at 3:47pm
No, we are not nuts but our politicians and country runners have proved that they are true diplomats..so, in order to prove to the world that we are the best democracy, shockingly the country's most hated criminal is protected like a VIP, and tons of money is spend on it...and the reason why, because our higher ups have not been able to prove it in the courts that he is guilty( does it need to be proved?) ...money from the pocket of taxpayer,which could have been used for some better purpose is spend on such purposes...and now, the stategovt. and the security people will run after each other debating whether it was national security or state....in the process the real cause of waorry wud take a backseat..so wat if law and order in the country is in pathetic state, our security forces have better work to do..they are busy in protecting criminals like Kasab to prove our diplomat are commited to show to the world that nobody in india is denied justice..and in the pocess enjoy some gud food and thanda AC ka hawa in protecting them...even if it is the cost of the feeling of common masses.. |
Posted By: Monkey
Date Posted: 12/Sep/2011 at 6:06pm
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Strange!! I thought this happens only in Saas - bahu serials!!
http://www.business-standard.com/india/news/love-sex-changedhokha/448620/ - http://www.business-standard.com/india/news/love-sex-changedhokha/448620/
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Posted By: Monkey
Date Posted: 16/Oct/2011 at 3:13pm
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Interesting!! Even quite famous guys like Paul Krugman and Alan Blinder are in the list!!
http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/top-10-seriously-weird-economic-research-efforts/articleshow/10370118.cms - http://economictimes.indiatimes.com/news/news-by-industry/et-cetera/top-10-seriously-weird-economic-research-efforts/articleshow/10370118.cms
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Posted By: vinvestor2010
Date Posted: 22/Oct/2011 at 11:04pm
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Super hilarious http://www.ft.com/cms/s/0/7573b7ec-e366-11e0-8f47-00144feabdc0.html#axzz1bWyO2usJ - Italian scientists go on trial for failing to predict earthquake If you want to read more such funny stuff there are two amazing websites 1) Lowering the bar - this presents the funny side on all sorts crazy legal cases 2) Faking News - the Indian version of the onion - this is imaginary but super funny sometimes |
Posted By: prestige2011for
Date Posted: 15/Nov/2011 at 1:45pm
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yeah its good
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Posted By: prestige2011for
Date Posted: 15/Nov/2011 at 1:46pm
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Posted By: vinvestor2010
Date Posted: 10/Jan/2012 at 5:26am
| http://www.hindustantimes.com/India-news/Mumbai/BMC-man-mistakes-Tagore-for-Santa-Claus-removes-poster/Article1-788112.aspx - BMC removes Tagore poster thinking it is Santa Claus |
Posted By: Monkey
Date Posted: 02/Jan/2013 at 9:00am
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What to say!!
http://economictimes.indiatimes.com/news/politics-and-nation/i-t-depatment-finds-tirupur-man-with-us-bonds-worth-5-bn/articleshow/17865535.cms - http://economictimes.indiatimes.com/news/politics-and-nation/i-t-depatment-finds-tirupur-man-with-us-bonds-worth-5-bn/articleshow/17865535.cms
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