Traderji.com - Discussion forum for Stocks Commodities & Forex


Famous Indian traders

Discuss Famous Indian traders at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Can anyone please name some really famous Indian traders say like Jhunjhunwala and \damani as ...


Go Back   Traderji.com - Discussion forum for Stocks Commodities & Forex > METHODS & STRATEGIES > Technical Analysis


Technical Analysis Discussion of all the principles involved in technical analysis.


Reply
 
Thread Tools
  #1  
Old 22nd June 2006, 02:35 PM
Member
 
Join Date: Mar 2006
Posts: 809
Thanks: 0
Thanked 27 Times in 14 Posts
marcus will become famous soon enough
Default Famous Indian traders

Can anyone please name some really famous Indian traders say like Jhunjhunwala and \damani as investors do we have any really successful traders?

I need some inspiration as all I keep hearing is 95% of traders endup losing money and now that I think of it I've never heard of even a single really successful Indian trader.




Reply With Quote
Sponsored Links
  #2  
Old 22nd June 2006, 06:58 PM
jdm jdm is offline
Member
 
Join Date: Jul 2005
Posts: 863
Thanks: 52
Thanked 470 Times in 241 Posts
jdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of light
Default Re: Famous Indian traders

marcus,

you have put a topic close to my heart. yes its sad very few details are available about the people with beautiful minds, maybe because of the basic culture of India, and thats of humbleness.

on 15 june '06 ET came out with an article which, i believe many would find interesting. the article can be accessed in the epaper, kolkata edition of ET.

cheers,
jdm.


CLASSICAL BEARS IN A TALE SPIN

Basistha Basu KOLKATA


IT WAS around 8.45 am on October 31, 1984. “Khoka da”, a journalist friend, was the first to ring up to break the news. “Check this out yourself, but Mrs Gandhi has been assassinated,” he said.
Two phone-calls to New Delhi and a two-minute talk with SL Burdhan, then president, Calcutta Stock Exchange (CSE) later, an impromptu decision was taken to keep the market closed, at least for half an hour till the elders arrived to take a decision. “We were fearing the worst. Indira Gandhi’s assassination could lead to devastation. Debu Bhalotia was informed,” recalled a senior member of the CSE governing board at that time.
“There were two things that Debu Bhalotia said the moment he arrived at the hastily summoned meeting. He urged the president to keep the CSE market closed for sometime to watch the trend in Bombay and he also gave his personal chopri (the red notebook on which brokers used to scribble their transactions in the days of the open outcry system) to Ajit Day of Dayco Securities, also a board member, saying that whatever was needed to be done, should be done. Those were his exact words,” the member recalled. “It was crisis time,” recalled Ajit Day, past president of the CSE, when asked about the incident. “We were pulling out all stops. Ganesh Pyne (a very big institutional broker of those times) got instantly in touch with GS Patel, then chairman of Unit Trust. Patel saab passed on necessary buy orders to Pyne and Hemendra Kothari, for whatever was needed to be bought in the Kolkata and Bombay markets, to prevent a landslide. The market started at 12 noon and immediately started falling, some 7-10%. The Securities & Exchange Board of India wasn’t born still, so we set manual filters at around 12.40 pm, freezing the price line and inviting all who wanted to sell to offload at those prices,” he recalled.
It was at this juncture that Debu Bhalotia stepped in. “He stood like a rock in Kolkata, mopping up all that anybody had to offer. Manubhai Maneklal did the same on the Bombay Stock Exchange. Unlike the dementors in Harry Potter’s world of Azkaban, he sucked the panic out of the system,” Mr Day said.
That was the quintessential bear. Two of the best that ever was on the Indian stock market circuit. Manu Manek in Mumbai and Debu Bhalotia in Kolkata. Bears to the core, they were also two of the best readers of the secondary market movement in the history of the capital market system in the country.
Sevantilal Shah of Stewart & Co, often dubbed as the Manu Manek of CSE, doesn’t quite agree. Approaching 80, this widely respected stalwart of the stock market for 52 long years, felt that Manu Manek, a very close friend, was a financer first and a bear later. “In the 70s and 80s, he used to finance about five lakh shares every fortnight, which was awesome. He was very protective about small investors and anytime, if he had financed someone who was not willing to square off when Manubhai suspected weakness in the market, he would advise him to reduce his losses. If he still did not heed, Manubhai would short-sell himself so that if the bull concerned was forced to go in for distress sale, he could use his position to counter-balance. Fiercely protective about his self-respect, Manu Manek wouldn’t ever let anybody ruin that,” Mr Shah said.
Manu Manek was a legend. “He had the natural gift of being able to detect any hollowness in the market,” Mr Shah recalled. “But he was still intrinsically a badla financer. Not like Debu who was perhaps an equally wise operator, but who was much more of a bear in the truest sense — hammering in a bull phase and standing right upfront during a fall. Debu understood the pulse of the market in a rare way,” he said.
Both Mr Day and Mr Shah rue the fact that the Indian stock market has now got totally devoid of bears. “Without them, you do not have a first line of defence,” they said. Most agree. Standing by the market in its hour of need was always a hallmark of a classical bear. And they were supported by the industry.
“August 5, 1965, the war with Pakistan broke out. In 1969 forward trading got banned. In 1971, the Bangladesh war broke out. In 1984, Indira Gandhi was assassinated. In 1990 came the Gulf crisis. Didn’t the stock market suffer? Like hell it did, and it took the combined efforts of all, including the industry, to sort such crises out. Bears played a very important role in that,” Mr Ajit Day said.
A classic example of such a rescue act was the crisis at the CSE in 1989 when Mahesh Bhiwaniwalla threw his hands up, following the bankruptcy of Rajendra Sethia, a wealthy Indian businessman, who defaulted by a few hundred million dollars worldwide in the mid-80s.
Mr Shah himself stood by to prevent the CSE getting mauled. “Darbari Seth took up some 1.1 lakh shares of Tata Tea at Rs 90 apiece. GP Birla bought back some 30 lakh outstanding Hindustan Motors shares. JK Synthetics was similarly sold off, as was Tisco,” Mr Shah recounted.
“There was then a bonhomie, a spirit of camaraderie among all of us. Girdhari Kejriwal, Bihari Khandelwal, Gokuldass Bangur, Govind Dasji Bangur, DS Prabhudas and Jamnadas Morarji in Mumbai, Hemendra himself .... anytime, anybody could be asked to stand up for the market,” he added. Were bears also destructive? “You see they used to be created that way perhaps. Bihari babu, I remember, used to relentlessly hammer prices down whenever they showed a very strong upward jerk. So did others. But the positive side was that, the counter offensive sobered the bulls too,” Mr Day said.
Ajay Kayan was dubbed a bear operator in 1992, which he was. Mr Kayan played a seller to about everything that Harshad Mehta bought. But, Mr Kayan isn’t quite the classical bear. In fact, latest on him is that his fairly heavy bull position on the market has just got squared off in this falling market situation.
As Mr Day recalls: “The Gulf crisis was perhaps one of the worst to hit markets before Harshad did. Bhalotia had passed away by then. Manubhai was a big support, as were badlawallahs like Sevantibhai and the Oswals of Delhi. A Kolkata-based residuary non-banking company played a stellar role in the support operations too, even as the Union government monitored the market practically every half an hour. It had taken all of us nearly a month to bring the situation under control. I have never had a bear mentality, but as far as my experience goes, the market even today needs bears to provide the necessary checks and balances.”
Reply With Quote
The Following 2 Users Say Thank You to jdm For This Useful Post:
kun18 (13th December 2009), Raju (17th December 2009)
  #3  
Old 22nd June 2006, 07:18 PM
Member
 
Join Date: Dec 2004
Posts: 109
Thanks: 0
Thanked 2 Times in 2 Posts
gold_ranjit is on a distinguished road
Default Re: Famous Indian traders

Wow man that was something nice to read............gr8 article........someamazing facts thats what I call showmanship.......
Reply With Quote
  #4  
Old 22nd June 2006, 09:04 PM
Member
 
Join Date: Mar 2005
Location: India
Posts: 1,928
Thanks: 118
Thanked 200 Times in 126 Posts
pkjha30 is a jewel in the roughpkjha30 is a jewel in the roughpkjha30 is a jewel in the rough
Default Re: Famous Indian traders

Hi
Great to read

In that sense everybody who brought shares at low price is a bear. Even I may be one. I fully agree that both are needed to keep the market from overheating and reflect the growth rather than hollowness.
But now a days it would be not possible to stand upto FIIs who have money power to hammer down or jack up the market.Somewhere I read that the quintessential bear is an endangered species in India and Bulls are nothing but firghtened chicken in the shop.

Pankaj
Reply With Quote
  #5  
Old 22nd June 2006, 10:27 PM
jdm jdm is offline
Member
 
Join Date: Jul 2005
Posts: 863
Thanks: 52
Thanked 470 Times in 241 Posts
jdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of light
Default Re: Famous Indian traders

Quote:
Originally Posted by pkjha30
But now a days it would be not possible to stand upto FIIs who have money power to hammer down or jack up the market.
theres on old saying "if you can't beat them join them". but thats not applicable for the markets.

to my experience the market is the most unbiased place one could ever had. everybody, out here is EQUAL. one does not need any financial muscle to succeed. you can do without those favors, chamchagiri, and the other bullshits. one only needs to do his/her homework correctly. one needs to have a BEAUTIFUL MIND.

to me the market is nothing but an "amalgamation of beautiful mind". and yes in this kaliyug they are an endangered species. may be thats why 90% lose out here. and may be thats why, icons of the market, do have humble backgrounds.

cheers,
jdm.
Reply With Quote
  #6  
Old 22nd June 2006, 11:05 PM
Member
 
Join Date: Nov 2005
Posts: 825
Thanks: 0
Thanked 11 Times in 11 Posts
Agilent is on a distinguished road
Default Re: Famous Indian traders

Quote:
Originally Posted by marcus
Can anyone please name some really famous Indian traders say like Jhunjhunwala and \damani as investors do we have any really successful traders?

I need some inspiration as all I keep hearing is 95% of traders endup losing money and now that I think of it I've never heard of even a single really successful Indian trader.


Marcus ,
I think your estimates are exaggerated. Surely more than 5 % of Indian traders will be making money in the long run.

Why .. judging by the tone and content of the posts in some of the more popular threads on this forum alone, I reckon there must be dozens of traders who have minted money in the past 3 years' bull run (can't say the same about last 8 weeks though)

And I do not grudge them this success, since I count myself as one of them ... not a day trader however

AGILENT

PS Of course I'm sure none of us can be termed as 'famous' Indians, so I may not have answered your query precisely... sorry

Last edited by Agilent; 22nd June 2006 at 11:15 PM.
Reply With Quote
  #7  
Old 23rd June 2006, 10:16 AM
jdm jdm is offline
Member
 
Join Date: Jul 2005
Posts: 863
Thanks: 52
Thanked 470 Times in 241 Posts
jdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of lightjdm is a glorious beacon of light
Default Re: Famous Indian traders

hi agilent,

out of 100 people invest in the market:
90 people lose their money
5 people able to salvage what they have initially invested
5 people make profit.

and its a global average.

when marcus says "famous" he probably meant "legends". but then only marcus can tell, in exact, what he meant.

in the market one really do not gauge a legend by only how much he made. money here is a by-product. remember jessy livermore had only $10,000 in his bank a/c when he died (he committed suicide).

cheers,
jdm.
Reply With Quote
  #8  
Old 1st July 2006, 09:18 PM
Member
 
Join Date: Dec 2005
Posts: 2
Thanks: 0
Thanked 0 Times in 0 Posts
anjan199 is on a distinguished road
Default Re: Famous Indian traders

Quote:
Originally Posted by marcus
Can anyone please name some really famous Indian traders say like Jhunjhunwala and \damani as investors do we have any really successful traders?

I need some inspiration as all I keep hearing is 95% of traders endup losing money and now that I think of it I've never heard of even a single really successful Indian trader.

THERE ARE AT LEAST A FEW THOUSANDS SUCCESSFUL ARBITRAGEURS WHO TRADE ON DAILY BASIS AND THEY MAKE LOT OF MONEY HWETHER THE MARKET GOES UP OR DOWN. BLB LTD IS ONE OF THE TOP MOST ARBITRGE HOUSE IN INDIA.
Reply With Quote
  #9  
Old 4th July 2006, 02:41 AM
Member
 
Join Date: Mar 2006
Posts: 809
Thanks: 0
Thanked 27 Times in 14 Posts
marcus will become famous soon enough
Default Re: Famous Indian traders

Quote:
Originally Posted by anjan199


THERE ARE AT LEAST A FEW THOUSANDS SUCCESSFUL ARBITRAGEURS WHO TRADE ON DAILY BASIS AND THEY MAKE LOT OF MONEY HWETHER THE MARKET GOES UP OR DOWN. BLB LTD IS ONE OF THE TOP MOST ARBITRGE HOUSE IN INDIA.

But dosen't arbitrage only give you high single digit returns??
Reply With Quote
  #10  
Old 4th July 2006, 07:36 AM
hmp hmp is offline
Member
 
Join Date: May 2004
Posts: 377
Thanks: 259
Thanked 100 Times in 63 Posts
hmp will become famous soon enoughhmp will become famous soon enough
Default Re: Famous Indian traders

Dear Agilent
Can U Disclose Us Your Methodology Of Trading ? So That Will Guide Us .

Regards
Hmp


Reply With Quote
Reply

Bookmarks


Advertise Here


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads for: Famous Indian traders
Thread Thread Starter Forum Replies Last Post
Traders Log Debraj Software 0 5th April 2005 01:10 PM


All times are GMT +5.5. The time now is 02:21 AM.

Indemnity, Disclaimer & Disclosure Notice:
• By visiting Traderji.com you automatically indicate that you agree to our Forum Rules, Indemnity, Disclaimer & Disclosure Notice and General Content Disclaimer Notice and indemnify Traderji.com, its associates and related parties of all claims howsoever resulting from the usage of the forum/site.
Disclaimer: Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility. You are recommended to make appropriate enquiries and seek appropriate advise before sending money, incurring any expenses, acting on recommendations or entering into any commitment in relation to any advertisement published here. Traderji.com does not vouch for any claims made by the advertisers of products and services. Traderji.com will not be held liable for any consequences in the event such claims are not honoured by the advertisers. Traderji.com will not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of any information by anybody mentioned anywhere on this site.
Disclosure: The information in this forum is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.
• All names or products mentioned are trademarks or registered trademarks of their respective owners.
General Content Disclaimer Notice:
In light of our policy of encouraging candid, open exchanges of views and the rapid distribution of information originating from many sources, Traderji.com cannot determine the accuracy or legality of any information that may be uploaded to the forum. Opinions, advice and all other information expressed by participants in discussions are those of the author. You rely on such information at your own risk. You are urged to seek professional advice for specific, individual situations and not rely solely on advice or opinions given in the discussions. Since Traderji.com is an open and free discussion forum, any comments made by members of this forum in their posts reflect their own views and not of the owner or administrator of Traderji.com. Thus the owner/administrator indemnify themselves of all claims whatsoever and will not be liable or responsible for any members comments/views in this forum Traderji.com. Although we constantly delete all irrelevant content and/or SPAM, if you should find any objectionable or offensive posts made by members of this forum which you would like to bring to our notice for removal then please Contact Us.
 


Copyright © www.Traderji.com 2001 - , All rights reserved.

Recommended Websites - www.TradersEdgeIndia.com - www.TradingPicks.com - www.MasterOfTrading.com

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243