Grifters, Thugs, Conmen, Swindlers or Scamesters, by whatever name called, follow one principle that the people who do not know how to retain their money, do not deserve to possess it. They utterly lack any center of morality, when it comes to money. A person with money is their target or the mark. Grifter works by generating confidence. Once the mark or target trusts the grifter, the move is made to accept the asset moved by mark under confidence.
Sound familiar? Not yet? Wikipedia defines this trick or scam it as:
A confidence trick is an attempt to defraud a person or group after first gaining their confidence. A confidence artist is an individual operating alone or in concert with others who exploits characteristics of the human psyche such as dishonesty, honesty, vanity, compassion, credulity, irresponsibility, naïveté or greed.
The corporate grifters rob people with two kinds of justifications or explanation:
1. It is the market force or something beyond their control
2. It is just an unintentional error which never happens. Continue reading →
Since the memories of the global financial market meltdown of 2008 and 2009 are still fresh in investors’ mind, they are cautious now. Usually, FII fund managers book some profit in their portfolios towards the end of the calendar year, and the same could start now. “They need to take some money home which will pay for their bonuses,’’ said an institutional dealer with a domestic brokerage house.
Market analysts therefore feel that there could be a correction of around 10 % in the stock markets over the next few months. Usually profit taking happens in November-December and FIIs come back to the market after they get their fresh allocations during the second and third week of the new year. This year, however , things could be a little different and they might continue to sell, said Arun Kejriwal, director, KRIS, an investment advisory firm.
“They might decide to sell now because they have made good money in their portfolio . Additionally, the rupee has also appreciated against the US dollar. So if they sell now and take money home, they would benefit on both counts,’’ explained Kejriwal.
So far this year, net FII inflow in stocks is nearly $27 billion. During the same period, while the rupee has appreciated nearly 5% to 44.21 to a dollar now, the sensex is up a little over 20%. Another factor, market players pointed out, that could affect the rupee is the rising crude oil prices . After the US Fed announced its second stimulus package worth $600 billion, sensing higher demand for oil in the US, global crude oil prices have shot up and is trading at $87 per barrel level.