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Tuesday, August 31, 2010

Episode KP and some...

Today I had an interesting experience....an old client/investor withdrew his money because i bought Nifty 50 calls in his account although the "whole world knew" that the market was going to fall.For your information the Indian markets recovered after tanking in the morning.

Two lessons,even old lions aint immune from assumption and this market has an infinite capacity to surprise!Difficult in such time to resist the urge to rub the client's nose in the "I told you so" synodrome but all it succeeds in doing i driving him into an even more irritating defence.

Another incident,another client who had held a particular stock(OMDC) for 16years,bought for Rupees twenty thousand,relisted on the BSE for rupees twenty two thousand each driven to rupees forty four thousand per share.Advised sell the client's greediness made him hold and his networth fell from rupees 12 million to rupees 8 million from last friday to today,tuesday as its been on a selling freeze!

Sometimes the difference between the stockmarket and the Zoo aint apparent...!!