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Betting Options At The Race Course

February 5, 2013 1 Comment

wealthymatters.com To wager you must be 18 years or older.You can bet either on the Totes or Totalisators or in the Bookmakers’ ring. The tote is a system run by the racing club. The tote (those ticket sellers behind the small windows you see everywhere) collects bets in various pools (like the win, place, tanala, jackpot, super jackpot, etc), deducts its commission and betting tax, and then distributes the balance amount to all successful tickets in respective pools. Dividend, in racing language, is the winning amount declared by the tote for the particular pool.The tote betting being less cumbersome is ideal for a beginner.You can either go to a manned Tote window and buy a cash voucher from a Tote Service Outlet, or call the roving operator with a hand-held computer. You have the option to bet at variable Tote odds or at fixed Tote odds. With the fixed Tote odds, the winning amount is guaranteed and printed on the ticket so it is similar to a bet you place with a bookie.

Here are the different ways you could bet on the Tote: Read more of this post

Filed under Tidbits, Tool Kit Tagged with Accumulator, Bar Betting, betting, betting at the racecourse, betting in the race track, betting on horses, bookmaker bookie, dividend, fixed odds, Forecast, Jackpot, Jodi betting, Kenchi, multiple race pools, place, postaday, Quinella, roving operator, Second Horse Pool, single race pools, Super Jackpot, Tanala, Tote Service Outlet, Totes or Totalisators, Treble, variable odds, wagering, win

Last Chance ELSS

January 22, 2012 Leave a comment

wealthymatters.com ELSS =Equity Linked Savings Scheme ,is a special category of mutual funds that invest predominantly in stocks. They are very comparable to diversified equity funds. The only differences between regular diversified equity funds and ELSSs are the 80C tax benefits on investments upto 1 lakh and the lock-in period of 3 years,incidentally the least among all 80C tax-saving avenues. It means that once you invest in an ELSS , you cannot withdraw your investment for a period of 3 yearsHowever,the DTC proposes to phase out the tax breaks on ELSS , so this avenue may be closed in the coming years.But, you can still invest in it this year and get tax breaks.

The best ELSSs have not done too badly during downturns and have given excellent returns in boom times.The reason has been the lock-in period. These funds have not suffered due to large scale redemptions when the market sentiments have tanked.Moreover, fund managers keep a portion of the mutual fund corpus, around 7-10%, as cash,even in good times, so that they can meet all redemption requests. This cash is invested in very short term debt investments, generating meager returns. This impacts the overall returns of the mutual.Since the fund manager of an ELSS knows that funds cannot be withdrawn for 3 years, he can invest all the funds in equities and keep less money as cash and provide good returns in the long term. Read more of this post

Filed under Paper Assets, Theory Tagged with deversified equity mutual fund, dividend, ELSS Equity Linked Savings Scheme, equity markets, fluctuating returns, infinite loop, laddering, lock in period, market risks, mutual fund, negative returns, postaday, redemption, SEBI, section 80C, stock markets, tax benefit, tax shelter

Rakesh Jhunjhunwala On Investing Your Way To Wealth

June 11, 2011

Mr. Rakesh Jhunjhunwala, combines diverse skills as a equity trader, visionary investor and incubator of new businesses through private equity.He is the first dollar billionaire from India to have made all his money by investing–primarily in stocks.Converting Rs 5000 to a billion dollars is no mean feat.Moreover since he deals exclusively in Indian stocks and often in publicly traded companies, whose shares we all have access to,it’s well worth spending time learning how to invest one’s way to wealth from him.

Firstly,Rakesh believes that the choice of asset class is important . As he says”If you bought gold in 1970 and sold it in 1980, you bought the Nikkei Index in 1980 and sold it in 1989 and then bought the NASDAQ [till before the dot-com bust], you would have made 33% compounded returns in three decades.”Personally, under the guidance of Mr Radhakrishna Damani, he made a lot of money shorting stocks at the time of the Harshad Mehta scam post 1992.As he says,”My decision to aggressively invest in the asset class of Indian equities at the right time was a very important determinant of my success.”As Rakesh believes that the mother of all bull runs is still to happen in India ,for people like us,sticking to Indian securities as an asset class might not be such a bad idea! Read more of this post