CONITNUED FROM YESTARDAY......
Right Decision at the right time:-
“Buffett’s reputation grew, more people asked him to manage
their money. For the partnership, Buffett bought controlling interests
in several public and private companies, and in 1962 he began buying
shares in an ailing textile company called Berkshire Hathaway.
Tainted by a scandal involving one of its clients, American Express
saw its shares drop from $65 to $35 almost overnight. Buffett had
learned Ben Graham’s lesson well: When stocks of a strong company are
selling below their intrinsic value, act decisively. Buffett made the bold
decision to put 40 percent of the partnership’s total assets, $13 million,
into American Express stock. Over the next two years, the shares tripled
in price, and the partners netted a cool $20 million in profit.”
Embraces the simple and avoids the complications:-.
Warren Buffett is not easy to describe. Physically, he is unremarkable,
with looks often described as grandfatherly. Intellectually, he is considered
a genius; yet his down-to-earth relationship with people is
truly uncomplicated. He is simple, straightforward, forthright, and
honest. He displays an engaging combination of sophisticated dry wit
and cornball humor.
Avoid Risk of Being Wrong
“No matter how careful you are, the one risk no investor can ever
eliminate is the risk of being wrong. Only by insisting on what
Graham called the “margin of safety”—never overpaying, no matter
how exciting an investment seems to be—can you minimize
your odds of error.”
Develop Discipline And Courage
“how your investments behave is much less important than how
you behave.The secret to your financial success is inside yourself. If you
become a critical thinker who takes no stock market “fact” on faith,
and you invest with patient confidence, you can take steady
advantage of even the worst bear markets. By developing your
discipline and courage, you can refuse to let other people’s mood
swings govern your financial destiny.”
Learn From Past
“Those who do not remember the past are condemned to repeat it.”
TO BE CONTINUED TOMORROW.......
“ENJOY TODAY ,WAIT FOR BEAUTIFUL TOMORROW ”
what are weakness and strength you find while reading this article/section ?
please give your comment below (in comment label) as how can this article/section be improved further ? it will GIVE THE OPPORTUNITY TO MEMBERS OF “ jab we met CA “ BLOG TO IMPROVE THEMSELVES. WAITING FOR YOUR REPLY....
SATBIR SINGH
PRESIDENT
JAB WE MET CA
REDEFINING PROFESSIONALISM......
“LEADERS ARE READERS, READERS ARE THE LEADERS”
CHECK STATUS OF CA WITH ICAI
CLICK :-STATUS OF CA
FOR FINANCE LOVERS(ALL ABOUT FINANCE.. CLICK ON FOLLOWING LINK):--
WWW.JABWEMETFINANCE.BLOGSPOT.COM
USEFUL LINKSFOR IIT -JEE -AIEEE ENTRANCE PROFESSIONALS/STUDENTS
(ON LINE COACHING ,ENTRANCE ETC......CLICK ON THE FOLLOWING LINK):--WWW.GOIIT.COM
FOR INCOME TAX LOVERS:---FOR E-FILING OR DOWNLOADING INCOME TAX RETURNS
Initial Offering: SEBI roots for investors' rights
27 Jul, 2008, 0715 hrs IST, ET Bureau
MUMBAI: Capital markets regulator, Securities and Exchange Board of India (SEBI), is all set to kick off a pilot project by August 2008, which will enable retail investors, investing in an initial public offering, to pay money for buying shares only to the extent of shares allotted to them. This is a major departure from the current practice of retail investors paying upfront the full amount for the shares they have bid for, while large institutional investors need to put up only 10% of the money. The system in vogue now is seen as discriminating against retail investors and the regulator’s move is aimed at ensuring parity between retail and institutional investors. SEBI’S move implies that a retail investor can participate in a public or rights issue, without the application money actually leaving his bank account, thus eliminating the refund process. The bank will mark a lien on the customer’s account to ensure that the requisite sum is locked in until the allotment process is finalised. The money will be transferred to the company only when the actual allotment takes place. In case the allotment does not take place, the money gets automatically unlocked and is at the investor’s disposal.
In May this year, the SEBI board had approved the concept of providing an alternative mode of payment in issues whereby the application money remains in the investors’ account till finalisation of basis of allotment in the issue. The payment system, called Application Supported by Blocked Amount (ASBA), will require retail investors bidding at a cut-off price, to apply through self-certified syndicate banks (SCSBs) in which they have accounts. ASBA will require SCSBs to accept applications from investors, block the required funds for the bid payment and then upload the details in the electronic bidding system. Once the basis of allotment is finalised, the SCSB will release the required amount and release the unblocked amount. If there is no adequate balance for blocking the amount in the IPO applicant’s account, the application will be rejected. “This is only an alternative mode of payment and the present system will continue to exist,” said Prithvi Haldea, chairman, Prime Database MD. In other words, the ASBA process is an additional mode of making payment in primary issues, by retail individual investors who have bid at cut-off with single option.
CBDT relaxes norms for scrutiny of company tax returns
New Delhi, July 27: In what could be a major relief to the corporate sector, the revenue department has decided not to scrutinise the tax returns of over 1000 top companies, provided no major disputes are pending against them they had been complying with laws. "The annual returns of tax complying companies would be not be scrutinised this year. The decision has been taken by the Central Board of Direct Taxes (CBDT) to encourage better tax compliance among the corporate," a senior finance ministry official said. Last year, the CBDT took a decision to scrutinise tax returns of about 200 'A' group companies listed on the Bombay Stock Exchange BSE, 500 National Stock Exchange companies and all non-banking finance companies. The tax returns of all the banks and public sector units were also checked by the income tax officials. The decision to relax scrutiny norms follows Finance Minister P Chidambaram's announcement after the annual meeting of Chief Commissioners of Income Tax Department that government would ensure that tax complying taxpayers are not harassed by the Income Tax Department. Under the scrutiny, the assessing official would issue notices to the taxpayer within a year of filing the return and probe any tax evasion by verifying claims about tax exemptions, amount in bank accounts, cash reserves, details of loans, gifts and credit cards. If the department has not raised tax demand of Rs 10 lakh or more in addition to deposited tax and if the department has not won any tax suit against the firm, the officials would not open returns for scrutiny. However, the department may consider to open the tax returns of companies, if they infused fresh capital of Rs 50 lakh or more during last fiscal or filed for tax exemptions for the first time under any scheme. According to the income tax department, in 2007-08 the scrutiny of about 3.2 lakh tax returns, including about 51,000 filed by the corporate, resulted in additional tax demand of Rs 73,200 crore, out of which Rs 28,700 crore has already been realised. However, considering the improvement in tax compliance and electronic filing and payment of returns by the corporate, the department has relaxed norms of scrutiny, the Finance Ministry official add
zee news
July 29, 2008
CONITNUED FROM YESTARDAY......
Greatest lesson to be learnt from Warren Buffet:-
The greatest lesson you can glean from Warren Buffett?
To learn from him without desiring to be like him.
It is important to use these articles to learn, but don’t use these articles to
be like Warren Buffett. You can’t be Warren Buffett and, if you try, you
will suffer. Use these articles to understand Buffett’s ideas and then take
those ideas and integrate them into your own approach to investing.
It is only from your own ideas that you create greatness.
The insights in this these articles are only useful when you ingest them into your own persona rather than trying to twist your persona to fit the insights.
The Warren Buffett Way describes what is, at its core, a simple approach.
There are no computer programs to learn, no two-inch-thick Investment manuals to decipher. Whether you are financially able to purchase 10 percent of a company or merely a hundred shares, this book can help you achieve profitable investment returns.
If you’re a young reader, the greatest investment lesson is to
find who you really are. If you’re an old reader, the greatest lesson is
that you really are much younger than you think you are and you
should act that way—a rare gift. Were that not possible, then Mr. Buffett
wouldn’t still be ably evolving at what for most people is postretirement
age. Think of Warren Buffett as a teacher, not a role model,
and think of these articles as the single best explanation of his teachings,
well stated and easily learned. You can learn an enormous amount from
these articles and that can be the foundation for developing your own successful
investment philosophy.
GOAL OF INVESTOR
“Your goal as an investor should be simply to purchase, at a rational
price, a part interest in an easily understood business whose earnings are
virtually certain to be materially higher, five, ten, and twenty years from
now. Over time, you will find only a few companies that meet those
standards—so when you see one that qualifies, you should buy a meaningful
amount of stock.”
Be small man with a big mind
Mr. Buffett evolved as investor without compromising any of his core principles.
Every decade, Mr. Buffett has done things no one would have predicted
from reading about his past, and done them well. Within professional investing,
most people learn in craft-like form some particular style of investing
and then never change. They buy low P/E stocks or leading tech
names or whatever. They build that craft and then never change, or
change only marginally. In contrast, Warren Buffett consistently took
new approaches, decade-after-decade—so that it was impossible to predict
what he might do next.
TO BE CONTINUED TOMORROW.......
“ENJOY TODAY ,WAIT FOR BEAUTIFUL TOMORROW ”
what are weakness and strength you find while reading this article/section ?
please give your comment below (in comment label) as how can this article/section be improved further ? it will GIVE THE OPPORTUNITY TO MEMBERS OF “ jab we met CA “ BLOG TO IMPROVE THEMSELVES. WAITING FOR YOUR REPLY....
SATBIR SINGH
PRESIDENT
JAB WE MET CA
REDEFINING PROFESSIONALISM......
“LEADERS ARE READERS, READERS ARE THE LEADERS”
