Friday, January 21, 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
21/1/2011 524448 Ahlcon Par ABHISHEK FINANCE CO.LTD. B 189300 83.00
21/1/2011 524448 Ahlcon Par SEWASTUTI FINANCE P.LTD S 189100 82.99
21/1/2011 532331 Ajanta Pharma CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 61398 221.98
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
21-JAN-2011,AJANTPHARM,Ajanta Pharma Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,61398,221.84,-
21-JAN-2011,CMAHENDRA,C.Mahendra Exports Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,812777,111.26,-
Warren Buffett, without any doubt, is the most successful investor that one has come across.
This genius has made many many insightful comments, some of which I am sharing with you below !
1. A public-opinion poll is no substitute for thought.
2. Chains of habit are too light to be felt until they are too heavy to be broken.
3. I always knew I was going to be rich. I don’t think I ever doubted it for a minute.
4. I am quite serious when I say that I do not believe there are, on the whole earth besides, so many intensified bores as in these United States. No man can form an adequate idea of the real meaning of the word, without coming here.
5. I buy expensive suits. They just look cheap on me.
6. You only have to do a very few things right in your life so long as you don’t do too many things wrong.
7. I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
8. I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.
9. If a business does well, the stock eventually follows.
10. If past history was all there was to the game, the richest people would be librarians.
11. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.
12. In the business world, the rear view mirror is always clearer than the windshield.
13. Investors making purchases in an overheated market need to recognize that it may often take an extended period for the value of even an outstanding company to catch up with the price they paid.
14. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
15. It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.
16. It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.
17. I’ve reluctantly discarded the notion of my continuing to manage the portfolio after my death – abandoning my hope to give new meaning to the term ‘thinking outside the box.’
18. Let blockheads read what blockheads wrote.
19. Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.
20. Long ago, Sir Isaac Newton gave us three laws of motion, which were the work of genius. But Sir Isaac’s talents didn’t extend to investing: He lost a bundle in the South Sea Bubble, explaining later, ‘I can calculate the movement of the stars, but not the madness of men.’ If he had not been traumatized by this loss, Sir Isaac might well have gone on to discover the Fourth Law of Motion: For investors as a whole, returns decrease as motion increases
21. Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.
22. Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results.
23. Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
24. Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.
25. Only when the tide goes out do you discover who’s been swimming naked.
26. Our favorite holding period is forever.
27. Price is what you pay. Value is what you get.
28. Risk comes from not knowing what you’re doing.
29. Risk is a part of God’s game, alike for men and nations.
30. Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.
31. Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway.
32. The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.
33. The investor of today does not profit from yesterday’s growth.
34. Your premium brand had better be delivering something special, or it’s not going to get the business.
35. The only time to buy these is on a day with no “y” in it.
36. The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves-and the better the teacher, the better the student body.
37. There are all kinds of businesses that Charlie and I don’t understand, but that doesn’t cause us to stay up at night. It just means we go on to the next one, and that’s what the individual investor should do.
38. There seems to be some perverse human characteristic that likes to make easy things difficult.
39. Time is the friend of the wonderful company, the enemy of the mediocre.
40. Value is what you get.
41. We believe that according the name ‘investors’ to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a ‘romantic.’
42. We don’t get paid for activity, just for being right. As to how long we’ll wait, we’ll wait indefinitely.
43. We enjoy the process far more than the proceeds.
44. We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
45. We’ve long felt that the only value of stock forecasters is to make fortune tellers look good. Even now, Charlie and I continue to believe that short-term market forecasts are poison and should be kept locked up in a safe place, away from children and also from grown-ups who behave in the market like children.
46. When a management team with a reputation for brilliance tackles a business with a reputation for bad economics, it is the reputation of the business that remains intact.
47. Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
48. Why not invest your assets in the companies you really like? As Mae West said, “Too much of a good thing can be wonderful”.
49. Wide diversification is only required when investors do not understand what they are doing.
50. You do things when the opportunities come along. I’ve had periods in my life when I’ve had a bundle of ideas come along, and I’ve had long dry spells. If I get an idea next week, I’ll do something. If not, I won’t do a damn thing.
The market moved higher last week as food inflation moderated for the second week in a row in the early part of January after spiking to nearly a two-year peak in late December. The market was, however, volatile throughout the week on account of expectation of a hike in interest rates by the central bank later this month. Amid intense volatility, the 50-unit S&P CNX Nifty dipped below 5,700 mark. Third quarter results announced so far have been mixed.
A number of third quarter corporate results, monetary policy review from the central bank and expiry of the near month derivatives contracts, may cause volatility on the domestic bourses next week. The central bank holds a quarterly policy review on Tuesday, 25 January 2011. As per a poll by Capital Market, economists widely expect 25 basis points increase each in repo rate and reverse repo rate at 25 January 2011 policy review. Reserve Bank of India governor Duvvuri Subbarao said on Monday, 17 January 2011, that the country is facing surging inflation and that the RBI needs to calibrate monetary policy in order to manage inflation and also support growth. Financial markets are closed on Wednesday, 26 January 2011 on account of Republic Day.
The Indian markets ended the session with modest losses amid volatility led by selling in IT, metal FMCG, realty companies’ shares
Wipro slides after Q3 results
PNB Q3 net profit up by 8% yoy
ITC Q3 PAT rises by 21% yoy
After falling for the two consecutive weeks, the Indian markets surged led by support from banking and IT shares.
Major news for the week
Food inflation eases to 15.52%
Reliance Industries Q3 net profit surges 28% yoy
TCS Q3 consolidated net profit jumps 30% yoy
L&T Q3 net profit rises 11% yoy
Wipro Q3 net profit up 10% yoy
The key benchmark indices ended a choppy trading session lower as investors digested a number of third quarter corporate results, prominent being that of ITC, Bharat Heavy Electricals and Punjab National Bank. Firm European stocks helped Indian stocks recoup intraday losses in late trade. Reliance Industries (RIL) edged higher ahead of Q3 results, which hit the market after trading hours. Net profit jumped 28% on the back of improved refining margins.
ONGC’s Rs130bn public issue is likely to be deferred to the next fiscal. (ET)
Maruti plans to take its installed production capacity to 1.75mn per year in stages. (BL)
Large creditors of Ssangyong Motors have approved the acquisition of the South Korean company by M&M. (ET)
Indian equity markets ended the day with modest gains, thanks largely to a late afternoon spurt, as investors snapped up beaten down Banks and IT shares. A drop in food inflation for the second successive week and good earnings from the likes of Yes Bank, Biocon, Kotak Mahindra Bank and TVS Motor also helped bolstered the mood on Dalal Street.
However beautiful the strategy, you should occasionally look at the results. Winston Churchill.
The opening is likely to be down yet again even as a whole host of Large-Cap and Mid-Cap companies are slated to announce their quarterly results today. All eyes are on the earnings of big daddy Reliance Industries, but those numbers will be out only after the market.
The Indian indices are expected to open on a weak note on account of negative global cues.
Headlines for the day:
RBI proposals may drive MFI consolidation
AV Birla set to buy US firm for $900 million
M&M, Sundance tie up to promote Indian cinema
The market may edge lower in early trade, tracking mostly lower Asian markets. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicate a fall of 31 points at the opening bell. Reliance Industries (RIL), ITC, Bharat Heavy Electricals and Punjab National Bank (PNB) are due to report Q3 results today, 21 January 2011.