Friday, September 5, 2008

Stock Market Moves

Isn't it nice when you find that your own evaluations of the stock markets are backed by well-known brokerages? On August 11, 2008, Anand Rathi, a well-known Indian brokerage recommended Development Credit Bank [DCB] at the current market price of Rs. 58 with a stop loss of Rs. 50 and a medium term target of Rs. 78. Earlier this year, I had bought the stock at Rs. 110 and sold it at Rs. 145 within a short span of three weeks. So, when it started falling and it reached a low of Rs. 45, I thought that was the right time to buy it. But when I was signalling a buy in my personal charts, there was no brokerage recommending it. But now when it began rising a bit, we have Anand Rathi recommending a buy.

I find this really interesting. And fascinating. I am only hampered by big time finance, which is why I am still a small time player. With more finance or with investment finance from some of my friends, I could do a pretty good deal. I would not be able to beat the legendary Warren Buffett because he has been a genius and I have often found him pretty inspiring. But I would have done pretty well if I had started off with an investment partnership.

And I would do pretty well even if I opened one right away!

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