iCharts Discussions

[vinay28]

good one

[ajayhkaul]

Classic !

STEPUP I personally love such contrarian stuff. So do contribute often...

At least one instant takeaway from this guy ,for traders, is :

Know when to buy , know when to sell , know when to Hold and know when to RUN!

Andrew has taken the chips off the table and he is not going to give them back.

Many great traders , incl Jesse Livermore lost/won/lost fortunes , but did not know when to walkaway from it all.

[STEPUP]

Ajayji , Hope you will like it also

Jesse Livermore Quotes

I believe there are no good stocks or bad stocks; there are only money making stocks. So there is no good direction to trade, short or long; there is only the money-making way to trade.

Don’t try to play the market all the time. It can’t be done, too tough on the
emotions.

All through time, people have basically acted the same way in the market as a result of greed, fear,ignorance, and hope. This is why the numerical formations and patterns recur on a constant basis.

If you can’t sleep at night because of your stock market position, then you have gone too far. If this is the case, then sell your position down to the sleeping level.

What beat me was not having brains enough to stick to my own game.

The game taught me the game.

If somebody had told me my method would not work I nevertheless would have tried it out to make sure for myself, for when I am wrong only one thing convinces me of it, and that is, to lose money.And I am only right when I make money. That is speculating.

They say you never go broke taking profits. No, you don’t. But neither do you grow rich taking a four-point profit in a bull market.

The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. Old Turkey was dead right in doing and saying what he did. He had not only the courage of his convictions but also the intelligence and patience to sit tight.

Remember that stocks are never too high for you to begin buying or too low to begin selling.

The Mistake family is so large that there is always one of them around when you want to see what you can do in the fool-play line.

"There is never anything new on Wall Street because speculation is as old as the hill".

I trade on my own information and follow my own methods.

A professional gambler is not looking for long shots, but for sure money.

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting.

The average man doesn’t wish to be told that it is a bull or a bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn’t even wish to have to think.

A man may beat a stock or a group at a certain time, but no man living can beat the stock market!

It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind.

A man must know himself thoroughly if he is going to make a good job out of trading in the speculative markets.

Wall Street is always the same: only the pockets change.

Markets are never wrong, opinions are.

I absolutely believe that price movement patterns are being repeated. They are recurring patterns that appear over and over, with slight variations. This is because markets are driven by humans -- and human nature never changes.

"I am tired of hearing the public and papers blame Wall Street for parting fools from their money... It's the successful business man who is the biggest sucker of the lot. He has made a fortune in his own line. How? By being on the job for years; by learning all there was to know about it; by taking reasonable chances; by utilizing his knowledge and experience to anticipate probabilities. He wants to increase that fortune at a faster rate and with less effort."

[ajayhkaul]

Many thanks STEPUP for these from Jesse ....

Do share such gems and its great to have you in this blog .

The blog may ultimately read like a beginners/traders manual and that's cool.

And thats why I prefer Icharts

[psalm]

http://www.bbc.co.uk/news/business-18246882

[ajayhkaul]

From Economic Times :

As the rupee hits record lows against the US dollar, Indian companies, holding nearly US$100 billion in foreign-currency debt, are finding themselves dangerously exposed, and unhedged dollar debt could spell billions in losses for local borrowers.

India had around US$96.6 billion in external corporate borrowings outstanding at the end of last year, according to the Reserve Bank of India. Nearly 77% of that, around US$74 billion, is denominated in US dollars. The sheer size of these borrowings, coupled with the slumping rupee, has triggered fears of a refinancing crunch.

India's limited local markets leave companies with little alternative to borrowing abroad. With local interest rates running high, borrowers have continued to rush to offshore markets in search of cheap capital.

But in order to pocket more savings, they often leave those positions unhedged. Fully hedging a one-year external commercial borrowing (ECB), for instance, costs an additional 6.5%, the Mumbai inter-bank forward offer rate). And that's a price most companies are unwilling to pay.


In a study late last year, Crisil Research found that the 42 top companies on the Nifty Index, excluding eight from the banking and financial services sector, had foreign-currency debt of Rs 1.3 trillion (US$23 billion), constituting nearly 25% of their total borrowings.

"We found out that when the rupee depreciated around 10% in July-September, these 42 companies reported a forex loss of Rs48bn on their books, which was nearly 8% of their profits before tax," said Crisil senior director Prasad Koparkar.

Companies in the infrastructure, oil, power and auto-related sectors have the most to lose, because they do not have a natural hedge.


But this is the part I like :


Mark-to-market losses need to be reported. But India's ministry of company affairs has given borrowers a breather on the deadline, allowing them to stagger losses in their accounts over a period up to March 31 2020. This deadline was extended from March 31 2012, and relates to forex-related losses incurred since December 2006.



How cool is that?

Does this ' loss stagger' for 14 stretchable years apply to traders? MTM ?
Why not ?

Who needs accountants and CFOs etc ?

I am betting that the next job that will be extinct shortly will be Accountants and Auditors . They only brush the dirt under the carpet. And they haven't changed in a thousand years anyway.

Jurrasic Park ,anyone?

[vinay28]

but moody has said that debt in foreign currency is only 7% of gdp?

[pkholla]

Ajay: If a loser like Suzlon can report success in rescheduling FE loans due in June then there IS hope for companies with balance sheets in better shape. After all the lenders need companies from "safe" places like India to take loans. Who else will they approach? Russia with twin dangers of thuggish Putin or even more dangerous Mafiya? China with such opaque systems that no one knows who is who! Rgds, Prakash Holla

[ajayhkaul]

Percentages are deceptive when taken on a huge base figure like GDP. Moody could have made it LOOK an even smaller percentage by referencing to world GDP !!

Since MTM losses are eroding profits of India Inc , the maths in the ET write-up is relevant and revealing I think.

[ajayhkaul]

[pkholla]

[ajayhkaul]

Ha ! I was wondering how many Finance guys would be reading my rants !

All the smoke and mirrors....!

And this guy got nirvana/eureka moment :

"I tell you, we are here on earth to fart around, and don't let anybody tell you different" -

Kurt Vonnegut

[ajayhkaul]

[vishvesh2001]

Agreed Ajay.. But we also need to remember pressure on CFO's and Accountants are from Business heads and stake holders who many not be accountants . The point is CFO;s and accountants should stick to their stand but will that help in a competetive business environment or else he would be on the streets . Is there a way out??

[vinay28]

global economy is in dumps because of these very finance guys