Amazing portfolio managers!

I am surrounded by a lot of ‘part-time’ portfolio managers. Of course the other name for them is voluntary contributors to the broker welfare fund. Their reasons for buying a share, holding it and selling it can at times be hilarious. However without getting into whether we are in a bull market or a bear market it is clear that the ‘retail’ traders are back in the market.

Anything with infrastructure is a good buy. On probing the logic seems to be good – if there are so many infra funds being launched they will all buy ILFS, IDFC, L&T, ….etc. so how can we go wrong? Good question.

Obviously they have bought Satyam – if Anand Mahindra can buy the share at Rs. 51 why can we not buy it at 70, 80, 110, 130…afterall the share was at Rs. 550 under Raju. Under Anand Mahindra it can only get better no? Good thought.

And currently they are making money. Nobody dares to do anything different – do not try to fix something that is not there are smiles all around! Of course the lead manager of NHPC is not perturbed about the listing at Rs. 37-42! Ha you need to take a fundamental view he says! So when he comes with the IPO of Oil India, you should apply. When he comes with the IPO of any company you should INVEST in them!

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