Peak Day Blues

As if the current financial crisis was not good enough, a ponzi scheme run by a former NASDAQ chief has shaken the financial world by its sheer magnanimity... It's not everyday that someone fools' you off of $50 Billion!! And even more bizzare is the fact that his own ilk turned him in! According to Wall Street Journal: "The 70-year-old Mr. Madoff is the founder and primary owner of Bernard L. Madoff Investment Securities LLC. The firm is primarily known for its business in market-making, or serving as the middleman between buyers and sellers of shares. But Mr. Madoff also oversaw an investment-advisory business that managed money for high-net-worth individuals, hedge funds and other institutions. According to the complaints, Mr. Madoff ran the investment advisory as a secretive business, independent from the firm's proprietary trading and market-making operations. The SEC complaint said that the alleged fraud was run through this arm of Mr. Madoff's company."

In this troubled market scenario, it always helps to know how much money you saved by NOT investing in a particular stock or MF during the now infamous "bull run" witnessed in the past six to twelve months where the Sensex went all the way up to 22k... Rediff has unveiled the ‘What If You Had Invested’ feature that helps users compare returns from stocks and mutual funds with a broad range of investment options over the past one year. Take it for a spin here PS: In case you are an investor who burned your greens, this calculator will only increase your blood pressure :-)

Emaar MGF , one of India’s leading real estate developers is all set to develop an IT-ITeS SEZ at Coimbatore after the central government gave consent to 22 new proposals for Special Economic Zones (SEZs). The government has so far notified 270 SEZs involving an investment of Rs 83,450 crore. But the credit crisis in real estate has severely impacted the pace of SEZ development. About EMGF: EMGF is a real estate company incorporated in 2005, co-promoted by Emaar Properties of UAE and MGF Developments. The company is into residential, commercial and retail projects and has plans to foray into hospitality and airport projects. EMGF’s promoter, Emaar Public Joint Stock Company (Emaar), is an international real estate player with a presence spanning Saudi Arabia, UAE, Egypt and the US. Emaar PJSC is building the world’s largest tower and Mall in Dubai and is also involved in the prestigious King Abdullah Economic City in Saudi Arabia.