Comedy In A Tragedy

WHO SHOULD BE HELD RESPONSIBLE FOR A CRASH OF SUCH MAGNITUDE IN THE MARKET? SUNAMI ON THE MARKETS SWEPT ASIDE MILLIONS OF INVESTORS HARD EARNED WEALTH ON A SINGLE DAY. FIRSTLY,
IT IS THE GREED OF THE INVESTORS AND THE TRADERS WHO BELIEVE EVERY CALL IN THE MARKET AND RELENTLESSLY BUY AT ALL LEVELS WITHOUT WORRYING ABOUTFUNDAMENTALS.
SECONDLY, THE UNSCRUPLOUS MEDIA WHICH EVERY DAY THROWS HUNDREDS OF BUY CALLS FROM VARIOUS FUNDS WHEN THE MARKET IS AT A PEAK AND ADVISES EXIT WHEN THE MARKET CRASHES.
HOWEVER MAIN PEOPLE RESPONSIBLE FOR THIS KIND OF FALL ARE SEBI AND THE FINANCE MINISTRY. WHAT WERE THEY DOING WHEN THE MARKETS RELENTLESSLY ROSE TO UNIMAGINABLE LEVELS. EVERY SECOND DAY THEY ASSURED EVERYBODY THAT EVERYTHING WAS SOUND FUNDAMENTALLY. THEY ARE NOT WORRIED ABOUTH THE STOCKS THAT ROSE FROM BELOW 100 TO ABOVE FEW THOUSANDS IN LESS THAN FEW MONTHS. THEY NEVER BOTHERED TO CHECK THE COMPANIES WHICH ROSE WITHOUT FUNDAMENTALS. THEY NEVER PUT THE BREAK ON THE RISING MARKETS. COMPANIES COMING OUT WITH IPO`S ARE ALLOWED ABNORMAL PREMIUM BEREFT OF FUNDAMENTALS.HOWEVER STRONG IS THE PROMOTER BE, CAN ANY COMPANY BE ALLOWED TO COME OUT WITH A PREMIUM OF 450 WHEN IT IS NOT EXPECTED TO EARN ANY MONEY FOR THE NEXT THREE YEARS. ALL IPO`S COME OUT WITH ABNORMAL PREMIUM JUST BECAUSE THE MARKET IS BULLISH AND THERE ARE TAKERS FOR IT. WHEN CONTROLLER OF CAPITAL ISSUES WAS IN EXISTENSE IN THE 80s AND 90s, NOT EVEN THE BEST OF THE BLUCHIP COMPANIES WERE ALLOWED A PREMIUM OF MORE THAN FIFTY.

HEIGHT OF THE COMEDY IS A STATEMENT TODAY FROM THE FINANCE MINISTRY WHICH SAYS "INVESTORS SHOULD TAKE INFORMED DECISIONS IN THE SITUATION AND NOT BE LED BY MARKET RUMOURS OR ANY UNWARRANTED APPREHENSIONS". A STATEMENT THAT SHOULD HAVE COME WHEN THE MARKETS WERE RISING WITHOUT FUNDAMENTALS AND NOT WHEN IT FELL LIKE TODAY.

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