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Friday, December 05, 2008

Crisis watch, 5 December

We get back to our regularly scheduled financial crisis.

TED spread 2.18
S&P 500 returns -2.93%
VIX 63.64
Nikkei 225 (9:31 AM IST) +0.81
US Financials index -2.07%
ICICI Bank ADR +0.36%
Call rate on 4th 6.0995
Currency futures (9:31 AM IST)49.91


  1. Ajay,

    What do you think about this, pretty novel, idea on fixing Indian political system

  2. I remain cautiously bullish on India over medium-long term. Short term there would be volatile movements in markets till May/June 2009. Technically Nifty 1975 looks a Bear Bottom to me. Money like water will finds its way, if India recovers from temporary slowdown, new money is bound to come to equities! Being in Debt now would give 'short term safety but long term pains', whereas starting to invest in Equity may give 'short term pains but long term gains'. Returns immediately after a bear market has been historically much higher than average returns in Equities. This leads me to believe that Equity allocation in 2009 spread over 6 months (Jan-June 2009) would most likely outperform all other asset class returns on 2-3+ year horizon.


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