Friday, January 15, 2010

Unadulterated BS

I have nothing against Mr. Bejan Daruvala. The dude writes a weekly zodiac horoscope in the Sunday Times of India, which I'm sure a lot of people read and forget in a jiffy. However, these days Mr. Daruvala is beginning to bug me a bit - the guy has become a financial expert!!! He advises people on what to buy, sell or trade!! So much so, that he gets star billing on CNBC (dunno if he actually appears on the channel, but certainly on the website!)

I found this mildly amusing initially, but now the trend seems to be really propagating. I was stunned to find that a well educated (MBA, no less!!) acquaintance checked Mr. Daruvala's prophesies daily. Call it superstition or looking for divine guidance, but I call it sheer idiocy. Investing is tough enough as it is - but using these kind of 'astrological' guideposts is a guaranteed recipe for disaster. Check out some specific examples of divine guidance:

05-02-2010 to 18-02-2010 Repeatedly make entries and exit. The time is not good. If you follow the above rule you will make money in atleast 7 out of 10 deals.
19-03-2010 to 01-04-2010 Sell off shares that you purchased at low pricesas they will fetch good prices. Wait for the prices to fall prior to purchasing.
02-05-2010 to 19-05-2010 Not a very good time. Don't trade unidirectionally. During bullish time trade bullishly and in bearish trends trade bearish. Stick to the trends and don't act reverse to avoid risk, advises Ganesha.

Wah!! This last one really is very useful :-) I just wish to offer the poor suckers who trade according to the wishes of this dude a bit of unwanted advice - if this guy could really predict the market, would he be wasting his time telling you how to trade?


Amit Gokhale said...

At this rate, maybe even I can get on to CNBC-TV18 by saying 'Buy low, sell high' ;-)

On a more serious note, I also fail to understand analysts who, when the going is good, say 'Nifty is going to 5400 levels' and then after a couple of days of correction, proclaim 'Nifty can breach 4700 or 4800 levels' ;-)

meg said...

Take it easy buddy. Most of it doesn't actually mean anything just like the horoscope predictions. And if we are OK with these jokers telling us how run our lives on a daily basis, then money is only a small subset - don't you think :)

For ppl who take such gurus seriously, they deserve the outcomes !

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Bland Spice said...

don't effing believe it

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