PC's folly

the markets are showing extraordinary strength and i have never seen such strong broadbased action. i must admit that i have been caught on the wrong foot. I am not short but my cash levels are extremely high.

ofcourse, it is far less painful to point out other mistakes than examine your own and thats what i plan to do!

I was all praise for P chidambaran, the finance minister and his team here while he set up the national investment fund but lately i have to dislike the way he treats share issuance by public sector units. Sure, back tracking on strategic stake sales in PSU is the right path but many PSU could have been coaxed to issued fresh shares to the public during this bull run.
By spending his energy on confrontation with the left, PC has lost an opportunity to let PSU raise money from the market and the disinvestment battle could have been fought another day.

again, the is the strongest bull market in recent memory but with the least amount of primary paper flowing in, which is certainly not healthy.