Hemant wrote about being penny wise and pound foolish, and the example he took in his article completely amazed me. I re-read what he wrote twice to make sure that I understood it correctly, and even before writing this here I went to the site to double check whether I made a mistake in understanding what he said.
Apparently there was this lady who commented there saying her husband lost Rs. 7 lacs in day trading, but one of her questions to Hemant was how she could save the commission that’s paid to a mutual fund agent!
I don’t mean to be overly critical of anyone but if someone is in this kind of a situation and if that’s the type of questions they are asking – then they are in serious need of good advice, and should seek help before blowing off more of their money.
Moving on, the stock market has seen incredible volatility in the past few weeks, and the sudden up-move in the past few weeks has surprised a lot of people including me.
On 23rd September the Sensex had fallen by about 700 points, and since that time the Sensex is up by 700 odd points or so.
That’s hardly any movement at all – but what a heartburn it has given people! Along with the volatility – the Occupy Wall Street movement has also garnered a lot of attention and at least I’m quite surprised by how resilient this movement has been.
I really liked this one piece on the movement – Socialism on Wall Street, and quite agree with the conclusion that capitalism is the best economic system to date.
Nouriel Roubini is looking for sellers for his loss making firm, and for a change this was something that didn’t surprise me. If you keep predicting the same thing – you’re bound to be right some day, and while that may earn TV appearances and fame – it quite certainly doesn’t earn consistent profits.
Seshu shared this great website that helps you find fixed deposit rates, and it looks like it’s quite a useful little tool.
Finally a very good post about customer segmentation, and when it makes sense to fire some of your customers.
Enjoy your weekend!