When you see news items like IPO subscribed 40 times, or 200 times do you wonder how? Or when L&T finance debentures at 8.5% p.a. gets subscribed, do you wonder why? The answer is very simple. Merchant bankers are a nice small clique who also run PMS schemes. So when the ‘Investment Bank’ goes to […]

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When my uncle called me in the morning and asked me a simple question, it set me thinking, talking, smsing “Is the increasing yield in FMP coming from increased risk” i.e. is the quality of assets falling. And this small note was born. The retail investor, tired of falling equity markets was (is?) looking for […]

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