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Sigh, baby, sigh! - Views on News from Equitymaster
 
 
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  • Aug 15, 1999

    Sigh, baby, sigh!

    Udhar, they are getting nervous. Will the US Fed raise rates? Will the computers know what to do after midnight on December 31st, 1999? Will my 3 year old baby be safe from guns when she goes to school?

    But Idhar, there are no such worries. Idhar we know there will be a war with Pakistan. Idhar, we know we will win - but with damages. Idhar, we know there will an election with a coalition government. Idhar, we know there will be another election within 18 months of this one. But, Idhar, we do not worry. Idhar, Indians are rejoicing.

    Look at the BSE-30 Index. It is powering itself to new highs. Yes, you udhar-type dollar-calculating NRIs and FIIs may worry about why the BSE-30 Index is up only an average of 5.2% p.a. in US$ terms since January 1995 while the Dow is up by 28% per annum. But these Udhar-types will need to be a bit careful of their swollen PE ratios. And even otherwise, we have our share of world class winners.

    Heard of Infy? It is an Idhar stock that has appreciated by an average of 118.2% each year since January 1995 - in US dollars! Heard of Microsoft? That is up only 72.4% p.a. And then there is our very own Zee. This stock was up an average of 53.7% per annum in US dollars while the big boss Murdoch's News Corp was up only 25.2% and even the US giant Time Warner was up 37.0%.

    See, Mr. Udhar, all the fun is Idhar. Your CNN only writes about all the fireworks on the Pakistan border. Tell them to send their cameras here on Dalal Street instead - that is where the action is.

     

     

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