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Govardhan Pooja And Annakuta


wealthymatters.comAnnakuta is the fourth day of the Diwali festival, just the day after the main Diwali day. It falls on the first day of the fortnight of the waxing moon, also known as Shukla Paksha, in the Hindu month of Kartik.

This is a very special day for the devotees of Krishna, who celebrate it as the anniversary of the day Krishna instituted the worship of the Govardhan Hill.

Long ago,on the day after Diwali the residents of Vrindavan used to worship Indra. Indra was the demi-god in charge of rains and the people believed that unless he was appeased Indra would withhold the rains and ruin the crops. Read more of this post

The Mark Mobius View


wealthymatters.comHere is a recent interview from Forbes India to counteract all the gloom and doom

Mark Mobius: Debt crisis will help emerging markets

Dr Mark Mobius, executive director, Templeton Emerging Markets Group, tells Pravin Palande and Shishir Prasad that he is optimistic about India and in many cases, a weak rupee may actually benefit some companies in the country.

Dr Mark Mobius

Profile: Executive director, Templeton Emerging Markets Group

Career high point: Consistently voted as one of the most influential investment managers in the world

Last vacation: Doesn’t take any.

Known for: Travelling a lot; comic book based on his life

The idea of a single currency (euro) for differing political units seems to be in trouble. What does it mean for global currency markets? Read more of this post

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Of Skyscrapers And Recessions


I came across an interesting hypothesis by Andrew Lawrence in today’s ET.

Lawrence explains that “high buildings are typically driven by cheap and available capital-high land values,high construction costs-and therefore marks the cyclical peak of the credit cycle.The higher the building the often more abundant and cheaper capital is relatively.”

“Skyscraper building booms do not appear in every economic upturn,but simply in those with strong expansion and typically driven by cheap credit.So when you see a skyscraper boom it should signal concern over the extent,nature of the upswing and the extent of the downturn.”

Mmm…..food for thought isn’t it?Mumbai today seems to have a couple of new towers coming up in almost every street.

 

India And Gold


wealthymatters.comThe picture on the right might be what comes first to mind when a lot of people think about India and gold–A bride decked out in gold ornaments.

Here interesting facts about Indians and gold:

India is the world’s largest buyer of gold, accounted for 32% of the global demand in 2010.

India’s annual consumption demand has risen from an average of 300-400 tonnes (1998-2004) to about 900-1,000 tonnes in the last three years (2008-2010).

India’s demand for gold rose by 106% Y-o-Y,in 2010, substantially higher than the 60% recorded by the second-fastest growing market- China.

Indians invest over 11% of the gross savings in gold, against less than 2% by the Chinese. Read more of this post

Rakesh Jhunjhunwala On Why India Is A Great Place To Invest


wealthymatters.com

Following are a list of reasons why Rakesh Jhunjhunwala believes India is a great place to invest:-

India owes its progress to the following factors:

  • Efficient capital allocation
  • Sustained earnings expansion driven by growth and productivity
  • 8 per cent+ real GDP growth + 4 per cent + Inflation = 12 per cent + Nominal GDP growth
  • Corporates to grow faster than unorganised sector
  • Operating and financial leverage to kick in
  • Corporate earnings to grow at more than 18 per cent
  • Favourable framework for equity investing
  • Rising savings, yet low equity ownership — significant potential
  • Corporate governance
  • Transparency
  • Effective regulation Read more of this post
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