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View Poll Results: Stocks as a percentage of my net assets are -
0 - 25% -- I'm like the most conservative Indians. I love FDs. 219 32.02%
26 - 50% -- I have a few stocks. 302 44.15%
51 - 75% -- I'm an active trader. 113 16.52%
76 - 100% -- Hey, I'm an i-banker!!! 50 7.31%
Voters: 684. You may not vote on this poll

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Old 7th January 2009, 12:38   #991
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Shouldn't have he been arrested by now?
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Old 7th January 2009, 12:39   #992
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Satyam has suddenly become a very volatile share and the company has more or less lost all of its domestic and international credibility which it built over 2 decades.
In sight of these its not a good purchase the risk factor attached to Satyam is extremely high.
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Old 7th January 2009, 12:39   #993
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This one is the link which I found out on Moneycontrol.com

Raju admits fraud; Satyam books inflated of Rs 5040cr

Raju admits fraud; Satyam books inflated of Rs 5040cr

Now I also think Satyam is a bad buy for now.
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Old 7th January 2009, 13:20   #994
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Where was that guy who was planning to go long on satyam after that matyas deal? I hope he still has his shirts and pants.

Here is the resig letter. Some letter that is...
Satyam_Computer_Services_Ltd_070109.pdf
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Old 7th January 2009, 13:52   #995
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Satyam has urged it's employees to buy back as much shares as possible. Can it become the first employee owned company in India?
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Old 7th January 2009, 13:54   #996
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Quote:
Originally Posted by zaks View Post
Satyam has urged it's employees to buy back as much shares as possible. Can it become the first employee owned company in India?
Market gurus are predecting that the satyam shares will go down to Rs.10/share (read in moneycontrol.com). In this scenerio, do you think satyam employees will buy back the shares now? Its highly impossible.
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Old 7th January 2009, 13:55   #997
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Quote:
Originally Posted by snaronikar View Post
Market gurus are predecting that the satyam shares will go down to Rs.10/share (read in moneycontrol.com). In this scenerio, do you think satyam employees will buy back the shares now? Its highly impossible.
Given that their jobs have no guarantee now, why would they invest their money on an already screwed up company ?
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Old 7th January 2009, 15:00   #998
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This is a black day for the IT industry in India. "Asatyam" is finally out. Hope good sense prevails in other IT companies run by "reputed" honchos.
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Old 7th January 2009, 16:07   #999
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A lot of mid-cap IT companies and those who have earned money and name in last 5-10 years will face a tough time raising money from market and angel investors. Nobody will be able to have faith in Indian Private run companies as they have shown the same traits as our politicians and I do hope some more companies go this way for some radical company law reforms. Investor will face the brunt, but it will be for the good of long term.
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Old 7th January 2009, 16:38   #1000
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I would advise not to buy Satyam stocks now. It will be disaster for investors.

I doubt if anyone will come forward to buy out satyam. It has become india's enron.
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Old 7th January 2009, 17:58   #1001
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Satyam Scam - Event Update.pdf

Press Release_Satyam_Computer_Services_Ltd_070109.pdf

Official letter's from satyam.

Shocking!!

I have received it on my mail.
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Old 7th January 2009, 20:02   #1002
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The dreaded question- how many more will follow suit...
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Old 7th January 2009, 21:37   #1003
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Question Whew

Luckily for me- I just got out of the market before the Lehman bear mauled the indices.
Now safely in FDs

Satyam in unfortunate- the takeover proposal for Maytas should have rung the bells - feel bad for all the employees and shareholders.

Next on the list? - HDFC Bank?- with the CBoP White elephant & Non performing assets + Humongous debt?
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Old 7th January 2009, 21:44   #1004
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Quote:
Originally Posted by ECM View Post
Nifty is well near my target,cmp is 3150 if I am right.I
How close in 2920.4 to 3150? 3 months? ;-P

Quote:
Mr.Backseatdriver howz you buddy?
Actually, please do not take my posts personally - I take positions with a 2 year time frame in mind.

But I am enjoying this - I have no financial stake right now. Every time I say to myself "will place a buy order now" and open the browser just before calling my broker, I find the market going down .... down....

And I am getting worried. Need to make 80C investments within next 85 days, right?? I can live in a bull market. I can thrive in a bear market. But a volatile market is not to my liking.
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Old 7th January 2009, 21:52   #1005
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Arrow Indian Stocks

The current satyam shocker is likely to push back the indices another 10% this coming week. So exit old longs at any of the positive spikes and look for fresh positions. It's a wait and watch game now.

Obamas inauguration is the ONLY trigger for the US in the coming weeks. Everything everywhere else is not looking rosy at all. The upcoming issue which could wreak more havoc is of course the 'CC(credit card) Sea' and already establishments like American Express are bracing for the windfall.

Japan is readying for the biggest production slowdown in the last 30 years.

The VIX (Volatility index) is seeing never before swings across the indices of the world- more so in India, so I feel it's better to only look at long positions when we hit 8300 Sensex (Oh yes its coming for sure!) dont try to outsmart the market by trying to short. PSU banks are best bet Among them - SBI & Canara. Avoid shipping/Logistics/Oil. Defensives FMCG's - HUL more than ITC. Pharma - Sun & Cipla dont touch anyone else. Construction - only one name L&T.

If you've already lost a lot of money- dont act brave in hope that gods of good fortune will come to your aid- think about the people whom you have to support- deposit in cumulative FD's.
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