M6 - Man, Mind, Money, Markets, Method & Madness

[Dax Devil]

A damming report on state of affairs of power, metal & mining and banking sector.

http://economictimes.indiatimes.com...re-more-mr-defaulter/articleshow/48729168.cms

(The articles highlights problem of excessive and imprudent lending and the corresponding problem of unviable debts on bank's books. Some excerpts)

In August 2013, Credit Suisse (CS), a global investor, reckoned that 10 large Indian conglomerates had borrowed a staggering Rs 6.4 lakh crore. Each of these companies didn't even generate enough cash to pay interest on what they'd borrowed. Nevertheless, CS hoped that by 2014-15, many of these companies, heavily invested in the power sector, would generate 15,000MW of electricity and pay back banks.

Apart from Reliance ADA's Sasan and a project by Tata Power, everything is stalled. Technically, groups like Lanco, GVK and GMR are bust: in the US, they'd have to apply for Chapter 11 protection, their managements ousted and assets sold off cheap. Not so here, where state-owned banks continue to 'restructure' loans: "Oh, you've lost Rs 100 crore of our money? Here, take another Rs 200 crore." And so it goes. Banks are riddled by graft, kickbacks are routine, and no promoter is ever broke. Meanwhile, their companies are bust and shareholders bereft of their chaddi-banians. Since 2013, things have got worse. This month CS published a report on our corporate cesspool. It's couched in jargon, so I'll rephrase the horror story.

CS says the June 2015 quarter "saw further deterioration in corporate health ...." It says that the share of companies that didn't make enough cash to pay back interest grew to 42 per cent of the total, compared to 35 per cent two quarters ago. The main culprits are two sectors: metals and infrastructure. The steel sector has overtaken infrastructure, the main villain in the recent past, as the largest defaulter. One year ago, 11 per cent of steel companies couldn't pay interest costs; today 29 per cent can't. The amount due is a staggering $63 billion, or Rs 4.2 lakh crore. Our steelmakers are the most indebted in the world.

Infrastructure companies which can't pay back interest on loans now owe banks $49 billion, or Rs 3.2 lakh crore. Make in India, anyone? Officially, state-owned banks claim bad loans of around 12 per cent of total lending. This is more than double the levels a few years ago.....

I am least surprised. A country that still produces 20 odd years old lazy scum like hardik patel looking for reservation has no future, no matter how lofty its ideals are. This country needs a mighty painful kick in the backside to wake up.

 

[Vertigo_1985]

I am least surprised. A country that still produces 20 odd years old lazy scum like hardik patel looking for reservation has no future, no matter how lofty its ideals are. This country needs a mighty painful kick in the backside to wake up.

he is just a pawn.. bigger scum from all parties BJp, congress and AAP are supporting him, now this stupid is talking of uniting all pro-reservation parties..imagine what havoc its going to create if that happens ?
bheekh maangne mein bhi ab to sharam nahi aati logo ko..

 

[XRAY27]

he is just a pawn.. bigger scum from all parties BJp, congress and AAP are supporting him, now this stupid is talking of uniting all pro-reservation parties..imagine what havoc its going to create if that happens ?
bheekh maangne mein bhi ab to sharam nahi aati logo ko..

Is this reservation is to bring lullu 's degrees and !!! and create knowledge less and useless people get prime job/s !!!!

it should be for poor irrespective of caste with talent as back bone ..not in the way used in this country ...based on caste every useless person with base minimum percentage get the job living behind the talent...:annoyed:

 

[Dax Devil]

he is just a pawn.. bigger scum from all parties BJp, congress and AAP are supporting him, now this stupid is talking of uniting all pro-reservation parties..imagine what havoc its going to create if that happens ?
bheekh maangne mein bhi ab to sharam nahi aati logo ko..

Job reservation that allows the unatural rise of non-fit or protectionist economy that allows 3rd rate industries to survive will eventually bring about circumstances that would force India to burn its constitution (which infact is a hotchpotch copy of british common law) and write new one from scratch or get broken up like europe on the basis of language, race, religion or any other criteria.

 

[DSM]

DD,

I share your thoughts and sentiments and believe in meritocracy. I had posted in General Trading Chat a few days ago, about an incident that made me to question certain assumptions that I had on the issue. Posting here again.

While having chai at a tapri, I heard two Gujjus discussing the agitation in Gujarat. One was explaining to another. 'How is it fair? Our children study hard, and get over 92% marks, but do not get admission to medical and engineering colleges. While students from reserved categories score 45% and get admission to the same institution. Why should our children be discriminated in this manner......

This is a big, deep issue that needs to be looked at seriously. Education has become a business in hands of politicians and vested interest. So in essence, what the agitation is really about is anger and frustration of people whose children are denied their due inspite of hard work and talent... It is not that these protestors really want reservations, but it is that they do not want their children to be discriminated against....

Just my view...

I am least surprised. A country that still produces 20 odd years old lazy scum like hardik patel looking for reservation has no future, no matter how lofty its ideals are. This country needs a mighty painful kick in the backside to wake up.

 

[Steve]

Wipro chairman Mr. Azim Prem ji's comment on reservation: (I love the last two lines, it should be implemented in toto..):clapping:
Good one..read on....

I think we should have job reservations in all the fields. I completely support the PM and all the politicians for promoting this.
Let's start the reservation with our cricket team. We should have 10 percent reservation for Muslims. 30 percent for OBC, SC /ST like that.
Cricket rules should be modified accordingly. The boundary circle should be reduced for an SC/ST player. The four hit by an OBC player should be considered as a six and a six hit by a OBC player should be counted as 8 runs. An OBC player scoring 60 runs should be declared as a century. We should influence ICC and make rules so that the pace bowlers like Shoaib Akhtar should not bowl fast balls to our OBC player. Bowlers should bowl maximum speed of 80 kilometer per hour to an OBC player. Any delivery above this speed should be made illegal.

Also we should have reservation in Olympics. In the 100 meters race, an OBC player should be given a gold medal if he runs 80 meters.

There can be reservation in Government jobs also. Let's recruit SC/ST and OBC pilots for aircrafts which are carrying the ministers and politicians (that can really help the country.. )

Ensure that only SC/ST and OBC doctors do the operations for the ministers and other politicians. (Another way of saving the country..)

 

[Dax Devil]

Wipro chairman Mr. Azim Prem ji's comment on reservation: (I love the last two lines, it should be implemented in toto..):clapping:
Good one..read on....

I think we should have job reservations in all the fields. I completely support the PM and all the politicians for promoting this.
Let's start the reservation with our cricket team. We should have 10 percent reservation for Muslims. 30 percent for OBC, SC /ST like that.
Cricket rules should be modified accordingly. The boundary circle should be reduced for an SC/ST player. The four hit by an OBC player should be considered as a six and a six hit by a OBC player should be counted as 8 runs. An OBC player scoring 60 runs should be declared as a century. We should influence ICC and make rules so that the pace bowlers like Shoaib Akhtar should not bowl fast balls to our OBC player. Bowlers should bowl maximum speed of 80 kilometer per hour to an OBC player. Any delivery above this speed should be made illegal.

Also we should have reservation in Olympics. In the 100 meters race, an OBC player should be given a gold medal if he runs 80 meters.

There can be reservation in Government jobs also. Let's recruit SC/ST and OBC pilots for aircrafts which are carrying the ministers and politicians (that can really help the country.. )

Ensure that only SC/ST and OBC doctors do the operations for the ministers and other politicians. (Another way of saving the country..)

Bitter truth is, it is easy to get the man out of a gutter but very difficult to get the gutter out of a man. Reservation policy has done the easy job so far, and rest of the country has to endure the gutteral IAS, MBBS, B.E. and all.

 

[XRAY27]

Bitter truth is, it is easy to get the man out of a gutter but very difficult to get the gutter out of a man. Reservation policy has done the easy job so far, and rest of the country has to endure the gutteral IAS, MBBS, B.E. and all.

This is the real face which we are facing now.:annoyed:

 

[Catch22]

,

Comparing apples with apples-- By Mark Soberman

My friend and I were talking about his stock trading and he was eager for me to take a look at his portfolio so he could show me what he’d been doing. As he ran through his different open positions, of which there were around 50, I struggled to get an idea of how good each trade really was – and that’s when I asked him about whether he uses expectancy.
He said that he didn’t know about expectancy and asked me to explain it. After a basic explanation, I set about pulling in his trade data to do a quick demonstration of expectancy for him, but as I started to break things down, something concerned me greatly.
Not defining risk before taking a trade
“So what’s your initial risk for this trade?” I asked. “Well I don’t really have one.” He replied. “Well where would you be wrong?” I pushed, wide-eyed.
The conversation continued in this manner for a while, with me trying to get to the bottom of what he thought of as risk. “So if you don’t have a stop, you’d let this stock go to zero?” I asked. “Well yeah, but it’s a great stock!”
Incredible. Not only did he not define his risk, but what eventually became apparent was that he felt that only going for trades with “at least a 2:1 R:R” adequately covered it. Again, I’m wide-eyed at this point.
R:R vs. Risk
What R:R does do in combination with win rate, is define whether or not an opportunity is worth taking or not. It doesn’t tell you the value of your initial risk in isolation. It tells you the ratio of what you make when a trade works to what you lose when a trade doesn’t work. But it might be enough to figure out what your initial risk is so long as you identify the other side of the equation – what your profit target will be.

 

[Dax Devil]

This is the real face which we are facing now.:annoyed:

You know, I tell people here: show me one IAS, one doctor, one engineer, one teacher coming out of reservation quota who is fit for the job he/she is doing. Show me anyone from above who has made, or will make, this country proud by achieving some great distinction aborad. Chances are zero.

And you know what. I was reading this weekend smart trade's post that how he proudly secured his family future through trading. And I wondered what future? There is no future for honest and hard working person in this country. The way india is going to be reservation gutter, only future will be that of who are ready to be cockroaches.