Markets & After hours

DSM

Well-Known Member
Our lives improve only when we take chances, and the first and most difficult risk we can take is to be honest with ourselves. – Walter Anderson

 

DSM

Well-Known Member

Sebi, government may change mutual fund policy to route PF money into markets


http://economictimes.indiatimes.com...f-money-into-markets/articleshow/24679788.cms

The Securities & Exchange Board of India and the government are working on sweeping changes to the policy on mutual funds that could see them gain access to a substantial amount of money from the state-administered provident fund and other retirement programmes, a move that could lift the fortunes of the asset management industry. The long-term mutual fund policy will also feature proposals on tax breaks and incentives besides obliging asset managers to reach out to investors in the hinterland in an attempt to increase the industry's asset base and attract higher investments, said a senior official involved with the drafting of the plan who didn't want to be named.

The policy will also propose the scrapping of differential tax treatment for mutual funds in relation to pension funds and insurance plans. The regulator is of the view that, as with other sectors of the economy, a long-term policy for mutual funds is critical to mobilising domestic savings for economic expansion and achieving inclusive growth. Over 50% of household savings are currently parked in bank deposits as investors prefer products that protect their principal and ensure assured returns. "Globally, through tax breaks, pension money comes into mutual funds. In India, we don't allow it. Sebi is of the opinion that a portion of it should be allowed," said the official cited above.

The latest proposals mean mutual funds could tap an over 5-lakh crore corpus, providing a boost to the industry, which has been struggling after Sebi imposed a ban on entry load, or upfront commission, in 2009. The capital market regulator is in talks with the finance ministry to allow mutual funds to manage long-term funds such as retirement savings as it proposes to introduce mutual fund-linked retirement plans in line with similar schemes overseas, such as the US 401(k). Since policy is the domain of the government, the finance ministry is also involved in the process and is part of a committee working on the draft.
 

DSM

Well-Known Member
A story to warm the heart.....

Dr. Wate, a well-known oncologist (doctor specializing in treatment of cancer), was on his way to an important medical conference in another city where we was the guest speaker and was to be honoured for his contribution in research of rare form of cancer. He was very excited to attend the conference and was desperate to reach as soon as possible. However, two hours after the plane took off, the pilot announced that there was a problem with the plane and that they were going to make an emergency landing at the nearest airport. Afraid that he wouldn't make it in time for the conference, Dr. Wate immediately went to the help desk as soon as the plane landed and explained to the woman at the desk that he had to go to the conference and that he needed to know the immediate next flight to his destination.

She told him that there was nothing she could do to help him as there wouldn't be another flight to his destination till next day; but suggested he rent a car and drive down to the city as it was only four hours away. Having no other choice, he agreed to the idea despite not wanting to drive long distance. So Dr. Wate rented a car and started his journey. However, soon after he left, the weather suddenly changed and a heavy storm began. The pouring rain made it very difficult for him to see and he missed a turn he was supposed to take. After two hours of driving, he was convinced he was lost. Driving in the heavy rain on a deserted road, feeling hungry and tired,
he frantically began to look for any sign of civilization. After some time, he finally came across a small house. Desperate for direction, he got out of the car and knocked on the door.

An old woman opened the door for him. He explained his situation and asked if he could use her telephone. She told him that she didn't have a phone or electricity but that he was welcome to come in for some food and something warm to drink as he had completely lost his way and that it would take him some time to get back on the right road. Hungry, wet and exhausted, the doctor accepted her kind offer and walked in. The woman told him to help himself to some food and hot tea on the table and then excused herself to finish her prayers.

Sitting on the table sipping his tea, the doctor watched the woman in the dim light of the candles as she prayed next to what appeared to be a small baby crib. Feeling that the woman might be in need of help, the doctor seized the opportunity to speak as soon as she finished her prayers and told her that he hoped God would answer her prayers and asked if he could help. The woman smiled and said that God had answered all her prayers except for one, but she was hopeful.
Dr. Wate asked if she didn't mind telling him what it was. Nodding her head in approval, she said that the child in the crib was her grandson and that both his parents had recently died in an accident. She said that the child had a very rare type of cancer and that all the doctors she had seen were unable to treat him. She also said that she had been told that there was a Dr. Wate who specialized in the type of cancer her grandson had, but there was no way for her to get to this doctor as he lived very far from her, but still she was hopeful and so she has been praying to God to help her find a way to get to him so that he could treat her grandson.

Upon hearing her words, tears began to flow down the doctor's cheeks and he said: `God is great, there was a malfunction in the plane, a thunderstorm hit, and I lost my way; and all of this happened because God did not just answer your prayer by helping you find a way to get to Dr. Wate, but he brought Dr. Wate to your house. I am Dr. Wate!'
 

DSM

Well-Known Member
There is nothing more deceptive than an obvious fact - Sherlock Holmes



Everybody is looking for a profitable system. But what is simple and a profitable system, is often ignored as being too simplistic. Just done with my trading for the day (will look for something interesting at close) and so was playing around with charts. Found the following :

* A simple system of trading that can be used EOD, to trade positionally.
* It is a stress free system.
* @ profit 180 points/lot per month.
* Past 6 months - there are only 5 entries and exits.
* From the charts it is apparent that exits have been taken even after giving back 400 points, but still it is profitable.
* It can be argued that MA is a repainting indicator, true, but as the second condition is that both price to be above/below as well as the 20 MA line to be green/red is required to be met, I think false signal is eliminated. (Is it possible for any trader with Amibroker software can check these two conditions by having bar replay?)

Just my thoughts....

Perhaps when a man has special knowledge and special powers like my own, it rather encourages him to seek a complex explanation when a simpler one is at hand - Sherlock Holmes
 

avny

Well-Known Member
There is nothing more deceptive than an obvious fact - Sherlock Holmes
this reminds me a system,which does not required a chart and any undicator,i read in TJ,the main points were

1: buy as last two successive day's high is breached
2: reverse for short
3: S/L is,pr day H/L,breached

he has given the backtest for last two years
 

DSM

Well-Known Member
Thanks Avny.... will check this out as well as the 20 SMA system. Also in different timeframes.....

this reminds me a system,which does not required a chart and any undicator,i read in TJ,the main points were

1: buy as last two successive day's high is breached
2: reverse for short
3: S/L is,pr day H/L,breached

he has given the backtest for last two years
 

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