India Shining

Two women persecuted and prosecuted for Facebook status. Cops suspended and the political party calls a bandh. A youth persecuted for another update (supposedly not even by him). Two editors of a television channel caught for asking bribe from an industrialist MP. Of course channel hits back saying he wanted to kill the story and was ready to give bribe. PMO is asked by HC if Robert Vadra had involved in the alleged scams he is accused of. And obviously PMO says no (seriously.. did anyone really expect them to say otherwise?). Brazenness of this Government is getting appalling by the day.

This new scheme that everyone is talking about as game changer for the UPA. Absolute trash. It will be announced with much fanfare but will never take off. The people it is meant for, they don’t even have a bank account or aadhar cards! And we can be sure that there will suddenly be thousands of such fake cards and bank accounts so that the money can be siphoned off.

Talking of schemes… it was hilarious that the so-called low-cost Tablet that government was talking about as innovation.. Made in China!!

And FDI in retail. Ikea is coming and wonder who all are getting excited over it? 95% of the population wont even know what Ikea is or what does it do. Talking about FDI, no one seems to be flying into India to buy stakes in airlines. Why? Because government has ensured that the aviation sector which was shining few years back is gasping for breath. Much like the telecom sector.

Couple caught for committing fraud worth 500 crores. Wonder how they were able to live such a lavish lifestyle without being noticed. Banks which are supposed to be very particular about who has an account, never figured out where they were getting money from? I think banks don’t bother checking if large sums of money are involved. It’s the average person they make suffer. And talking of banks, what exactly were they doing lending money to Kingfisher Airlines when it was not making profits or even able to clear debts??

IOC wants to suspend IOA because of the way the elections are being manipulated. IOC needs to get real. This is how things functions in India! and like cricket, in next few decades India will be the money center for Olympics too.. so the sooner they accept IOA the way it is, the better. Suresh Kalmadi made money, let others make money too. After all, the Commonwealth Games were a big success!

And all this is happening, the economy is increasingly going downhill and 2013 seems to be the year when everything will fall apart and what is this Government with so many financial stalwarts up to? Trying hard to ensure they last the full term and come up with populist schemes which will help them get to power in next election. Of course, the opposition is no better. They are clueless. They accuse the incumbent of corruption when there are enough corrupt people in their own parties.



Arrogance or Head in the Sand Syndrome?

All relevant economic indicators are screwed. What should be up is down… what should be down is up. Standard & Poor downgrades India and what’s the reaction of this government?? Standard & Poor is not transparent! Seriously? I mean SERIOUSLY?

Who are we kidding? How come in the past no one ever commented on this transparency shit? How come when the rating was decent for India, nobody said that “hang on… this rating can’t be right.. they don’t understand our economic structure!”? Mr. T C A Anant.. why didn’t you say that earlier?  I bet somebody else will now say it is a conspiracy against India. Wonder who will it be? Vylar Ravi said it day before, so  some other minister now.

Is it absolute arrogance of UPA that makes them refuse to believe the reality? or is it the Ostrich syndrome?

Never Invest in Mutual Funds or Private Sector Insurance Companies

In past couple of months I have realized the kind of ride that these financial institutions take their consumer for!

A Mutual Fund is supposed to have the best financial brains working on the portfolio but turns out that I got far better returns by investing directly in stocks as compared to the so called experts! In last couple of years when the market has been swinging like crazy, I managed to maintain my portfolio in the green while the mutual funds I had invested with, their NAV was lower than the money I had invested with them! Now surely something must be wrong here. I am sure they would have a lot of excuses and “logical” reasoning and lot of  ‘fine print’ that explains it all. The most peddled story of course is that Mutual Fund is a long term investment. But then I have an investment which is long term and it is not exactly proving this point either. Don’t get taken in by the claims they make about the past performance of the funds. Here and now counts and it tells me that the common man is getting fleeced day in and day out. But I guess that is how they make all the profit since they have no knowledge on how to make the profit from investing the client’s money well…

The private insurance companies are even worse. They fleece the customer under the garb of fine print (which a common man can never ever figure out… if he could, he would either be a big time lawyer or own an insurance company himself)

Typical example and this company is Aviva (kal par no control). If you were to take a policy with them and for some reason decide to withdraw in say less than 3 years, they will return less than 50% of the money you had given them! am simply aghast! Your money would simply go up in smoke which comes out of your ears, if you were to have discussion with them on why they should make so much of profit from your money… Insurance is about money for the rainy day (no one buys a policy because he or she is going to die) but if the rainy day were to happen, you will be left with no roof over the head… Imagine what would happen if you were to die… people left behind would have a miserable time trying to get the money out of the tight fisted companies.

I have decided that at the end of the day… will not invest anymore in mutual fund.. would rather have the money parked in the bank at 5% and for more returns, would invest in stock market… at least if I lose the money… it would be my fault and not some Fund Manager who makes twice the money I make and still has no clue.

Insurance policy would only be with Life Insurance Corporate of India… They never cheat and never fail to give your money back!

So all you out there… wisen up… don’t get taken in by fancy advertising and glib talk… or if you do so.. at your own peril because the fine print would always absolve these companies of any mistakes or wrong doing.