Tag: reading

Sunder’s List: Productivity

Roundup: S&P -0.39%, Dow +0.25%, Nasdaq -0.50%, Gold $1,252.30, London +0.20%, Germany +0.26%, France +0.19%. At pixel: Nikkei -0.89%, Hang Seng -0.44%

em flows

By number of trades, NSE is #1 in the world. (AjayShah)

Social spending went up from a low of 10.5% in 2003-04 to 18% by 2008-09. The numbers show that, if this is populism, it’s been going on for a decade now. The flip side to the higher social expenditure, unfortunately, is lower capital spending. (LiveMint)

Analysts’ forecasts were less reliable in falling markets than in rising ones, even after making allowances for increased volatility in such times. Ironically, this is when investors pay more attention to analysts’ opinions. (NBER)

All technological and managerial progress kills old jobs and creates new ones. To focus only the lost jobs is a recipe for staying poor, something demonstrated by the Luddites in the 19th century. The creation of textile machinery in Britain caused massive job losses in traditional handlooms. So, the Luddites smashed textile factories in an idealistic effort to protect jobs. They didn’t realize that by stalling the industrial revolution — which ultimately raised living standards tenfold — they were actually keeping people poor. (ET)


Sunder’s List: FDI In e-Commerce?

Roundup: S&P -0.03%, Dow +0.17%, Nasdaq -0.27%, Gold $1,241.80, London +0.19%, Germany +0.37%, France +0.48%. At pixel: Nikkei -2.18%, Hang Seng -0.86%

Tailwinds for the telecom sector in 2014: lower 2G spectrum reserve price, improvement in tariffs, high operating leverage. (LiveMint) [stockquote]IDEA[/stockquote] [stockquote]RCOM[/stockquote] [stockquote]BHARTIARTL[/stockquote]

The 2010 microfinance crisis that originated in Andhra Pradesh may have claimed its first victim. Trident Microfin Pvt. Ltd is likely to shut its operations. (LiveMint)

Not all innovation makes money for investors, even in traditional industries. The refinements in horizontal drilling and hydraulic fracturing that made the shale revolution possible have delivered more of their benefits to consumers than to producers or investors. (FT)

Atanu Dey: Once the disease of central planning takes hold, there is no escape. Afflicted with poverty, the people clamor for relief and there’s the central planner, ever ready to do a bit more planning, a bit more controlling, a bit more of messing with prices, with quotas, with more regulations and rules and a bit more of redistribution. (Deeshaa)

India’s Department of Industrial Policy and Promotion (DIPP) has put out a note inviting various stakeholders to share feedback on the existing regulations restricting foreign direct investment (FDI) in retail e-commerce. (TechCrunch)

Good luck!

Sunder’s List: Are All Traders Useless Morons?

Roundup: S&P -0.89%, Dow -0.82%, Nasdaq -0.80%, Gold $1,228.10, London -0.46%, Germany -1.59%, France -1.60%. At pixel: Nikkei +0.69%, Hang Seng -1.51%

Tata Motor’s domestic woes continue. Sales of trucks and buses fell by 45% in December, sales of light commercial vehicles fell by more than half, passenger vehicle sales shrank 34%. (LiveMint) [stockquote]TATAMOTORS[/stockquote]

Many investors expect commodities markets to struggle for a fourth consecutive year in 2014. In industrial metals, aluminum and steel are locked in a chronic surplus, and iron ore and copper are set to join them as production ramps up from megaprojects in Peru, Mongolia, Australia and other countries. It is the same story for agricultural commodities such as corn, whose stockpiles are set to more than double next year in the U.S., and for sugar. (WSJ)

hsbc india pmi dec 2013The Indian manufacturing sector ended 2013 on an encouraging footing. Operating conditions improved for the second successive month in December, as both output and new orders increased.

US manufacturing PMI rose to a 11-month high. All three market groups (consumer, intermediate and investment) posted higher levels of output in December, with manufacturers of investment goods posting the fastest rate of increase. us pmi dec 2013

The end of 2013 saw growth of the global manufacturing sector accelerate to a 32-month high. Global manufacturing production expanded for the fourteenth straight month in December. Moreover, the pace of increase was the fastest since February 2011, as the growth rate of new orders held broadly steady at November’s 33-month record. New export orders rose for the sixth month running. global pmi dec 2013

If you had picked the best stock to buy every day you could have turned $1000 into $264 billion by mid December. That is a 26.4 billion percent return. Did you even get a 1 billion percent return? How about 1 million percent? 1000%? 100%? (DragonflyCap)





Good luck and have a nice weekend!

Sunder’s List: Was Rajan Right About Inflation?

Roundup: S&P +0.40%, Dow +0.44%, Nasdaq +0.54%, Gold $1202.30, London +0.26%, Germany -0.39%, France +0.47%. At pixel: Nikkei +0.69%, Hang Seng -0.42%

Supplies of chana, matar dal and toor dal from Australia, Canada, Myanmar and Africa have led to a correction in pulses prices in wholesale by 15%. Given that food inflation was the primary driver behind the recent spurt in CPI, Rajan’s decision to pause rate hikes seems to be a good one. (ET)

Try selling silos to individual farmers: farmers have increasingly stopped selling crops immediately after harvesting. Instead, they have converted parts of their house into warehouses, where they store produce and wait for prices to rise when supplies dwindle. (ET)

Ranbaxy, after getting put in the dog-house by the US FDA, figures it will have better luck pushing spurious drugs in the Indian market. (LiveMint) [stockquote]RANBAXY[/stockquote]

Dec auto salesDecember car sales: steep discounts saved the day. But what next? (LiveMint)

Good luck!

Sunder’s List: The Right To Be Lazy

Roundup: S&P -0.03%, Dow -0.01%, Nasdaq -0.25%, Gold $1214.70, London +0.85%, Germany +1.06%, France +1.40%. At pixel: Nikkei +0.40%, Hang Seng +0.29%

*** Sunder’s List will be on light holiday schedule till Friday ***

CPI-linked bonds a dud? Most banks fail to push them. (ET)

After high-frequency trading comes high-frequency dating. (RR)

Mere quantity of activity – as implied by the get-more-done mania of the productivity cult – has nothing to do with its value. (NewStatesman)

Good luck!