January 17, 2018

Old post ... Greece "rockstar" FM leaving with wife after resigning as FM ... good pictures

Best quote of the year/ parting kick to the EURO folks ... 

"I shall wear the creditor's loathing with pride."


One more shot... the media is ga ga over him. ... one of the best FMs and a non political one (he is a prof of eco).


One last shot... and you know why he was called a rockstar


Read more about him at his blog here

Market outlook

Daily charts
- trend is up on daily charts
- today, Nifty closed 0.8% in positive at 10788
- but AD was flat. Why?
- swing low support 10600
- option writing support 10500... may increase to 10700

The truth about security: Here's why Aadhaar's greatest threat lies within

“The introduction of the VID seems to be a knee-jerk reaction of the UIDAI to the recent debate on threats to privacy in the Aadhaar database,” says she. “We’re at a loss to explain to the slum community, where we work, now totally dependent on Aadhaar to access government welfare benefits, how to go about getting this new number!”
....
In September last year, the Uttar Pradesh police busted a Lucknow-based gang which cloned the fingerprints of authorised Aadhaar enrolment operators to create ‘fake’ Aadhaar numbers.
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“First, using biometrics as passwords is a flawed concept,” says Subhashis Banerjee of IIT Delhi. “Hackers the world over have shown how easy it is to clone biometrics — without the victim even getting to know!”
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Today, as data has become more valuable than gold and oil, Aadhaar, the largest database of information in the world, risks becoming a sitting duck for hackers.
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“The single biggest concern is the use of a unique ID everywhere, making it possible to build tradeable databases of individual information,” says the Internet.
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 “Aadhaar is designed to protect the state from citizen fraud. Nothing in Aadhaar’s design protects the citizen from state fraud…” The insecurity this has led to is exacerbated by the notions of the VID and “informed consent” — which suggest that the onus of protecting one’s own data lies not on the agency which has been entrusted with it, but on the individual himself…
....

Read more at http://www.business-standard.com/article/economy-policy/the-truth-about-security-here-s-why-aadhaar-s-greatest-threat-lies-within-118011700061_1.html


January 16, 2018

UIDAI should issue new Aadhaar numbers to all card holders

Logic is simple.

Under compulsion, I have given/ parted away with copies of my Aadhaar card to banks, mobile operators etc.

Note that I am not claiming ANY benefits from the government under any scheme.

So my number with name, address etc is , for all practical purposes, available in the public domain.

The new proposed 2 tier security or virtual 16 digit code is not going to solve this problem.

Big drop in Mid Cap index... top?

Big drop in Small Cap index... Top?

CNX IT breakout

... missed this signal completely as I was not looking at this index for quite some time.

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed 0.38% in negative at 10700
- AD was 1:5... quite bad
- today there was reduction in put positions and increase in call writing positions.
- however highest open interest is still at 10500 put.

- we have one hanging man, one shooting star and red bar today

- let us see if correction continues

New UIDAI features prove that data is unsafe: Experts

...experts have voiced concern that UIDAI's knee-jerk reaction was a last-minute attempt to cover up lack of security of humungous data stored in one place.

E-governance expert Anupam Saraph said that the decision to come up with virtual ID was admission by UIDAI that storage of Aadhaar number was "dangerous and wrong".

"If these were not so, virtual ID (VID) would be unnecessary. The introduction of VID also shows that UIDAI had failed to implement its own Aadhaar A ..

Read more at http://economictimes.indiatimes.com/articleshow/62519505.cms

Chal Rang De Asalpha: Welcome to the 'Positano' of Mumbai | The Quint

How a slum was transformed into a colorful delight

January 15, 2018

Market outlook

Daily charts
- trend is up on daily charts
- today NF closed 0.5% in positive at 10741
- AD was flat
- option writing support 10500

Uday Kotak red flag over market rally, says savings going to ‘few hundred stocks’

One of India’s top bankers and Vice-Chairman of Kotak Mahindra Bank, Uday Kotak, has raised a red flag on the surge in stocks, saying that it raises questions as to whether this poses the risk of a “bubble”. He said a lot of domestic savings were flowing to “a few hundred stocks” of firms whose governance standards fuel concern.

“While we are in the right direction, I always worry about excesses. What’s the excess which worries me? Here we have got a wonderful situation where massive amounts of savings are moving to the financial savings. Within the financial savings space, (money flows) into mutual funds, unit-linked schemes of insurance companies and directly into the equity markets. Money is coming through a broad funnel and it’s going into a narrow pipe… massive amount of Indian savers’ money is now going into a few hundred stocks. And you come back to the question of how good is the governance of these companies. The amount of money that’s going into small and mid-cap stocks is something on which we have to ask tough questions. Is there a risk of a bubble?” Kotak said in an interview.

Read more at http://indianexpress.com/article/business/banking-and-finance/uday-kotak-red-flag-over-market-rally-says-savings-going-to-few-hundred-stocks-5024854/lite/?__twitter_impression=true

Nice flowchart: Is it time to sell your stocks?

How PremjiInvest became the top investment co from a quiet family office

PremjiInvest, which according to three independent and conservative estimates, manages at least $3 billion of assets — predominantly in the public markets — is by far the largest family office in the country. The firm has a runway to increase assets under management to $6 billion, according to one of these sources.

"There are only five mutual funds larger than PremjiInvest when you look at their public markets corpus," said an investment banker, on the condition of anonymity.

Read more at http://economictimes.indiatimes.com/articleshow/62500500.cms

How a school dropout compounded 50% returns for 13 years to outgrow the market

Working in a BPO (Business Process Outsourcing) at night and trading during the day, Nikhil Kamath managed to identify the method in the madness.  To have an elder brother, who was also a trader, helped. But as Nikhil says, trading is a solo sport no one can play it on your behalf. With nearly 15 years of trading and an enviable track record, Nikhil now has an institution-sized trading book.

His lack of education did not stop his learning process. Nikhil is a voracious reader, reading up on a vast range of subjects, but prefers books on mass psychology.

In an interview with Moneycontrol’s Shishir Asthana, Nikhil Kamath speaks about his journey in the market and what it takes to succeed.

Q. Nikhil you started trading when you were 16. What inspired you to take up trading that early?

I quit school around the ninth standard to play chess full time. I used to play for India that time. Around the same time, I started trading. I got interested as my brother was into trading. But after two years I quit chess. I did not go back to school. During this time I managed to get a part-time job in a BPO and continued trading full-time.

Q. So you learned to trade with your brother and what were your initial lessons?

Read more at http://www.moneycontrol.com/news/business/markets/how-a-school-dropout-compounded-50-returns-for-13-years-to-outgrow-the-market-2482879.html

Are antacids and digestive enzymes really powering IIP growth?