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Samvat 2075 will be definitely rewarding for investors: Porinju

Samvat 2075 will be definitely rewarding for investors: Porinju

Finance
Porinju Veliyath, founder and CEO, Equity Intelligence India, feels that good times are just a question of when not if. He told ETNow that the stocks that have corrected or had a huge selloff are going to see a turnaround.Edited excerpts:What is the outlook for the markets this Diwali?So, Samvat 2075 is beginning. I think it's a good start. We are in a completely oversold markets today unlike last Diwali where we had a very highly overbought, high valuation kind of environment. Samvat 2075 is going to be definitely much rewarding for the investing community, with the new money coming in.New investors coming to equity investing are going to be well taken care of, with highly rewarding stock market going forward. At the same time, there is a lot of pessimism still in equities because of the ...
Facebook status update fails to spook investors

Facebook status update fails to spook investors

Business
Facebook's shares rose in after-hours trading after its latest results soothed investor fears of a drop-off in user growth. Its third quarter figures showed a rise in user growth, revenue and profits.The company had previously warned of an easing in key growth rates for the rest of the year because of several pressures including the rising cost of security protection.While it missed analysts' estimates in terms of user growth between July and September, Facebook still achieved 2.27 billion monthly active users while daily active users rose to 1.49 billion from 1.47 billion in the previous three months. Image: Mark Zuckerberg says Facebook's platforms, which include Instagram and WhatsApp, are continuing to grow They represented an...
Investors steering clear of emerging markets bonds due to currency volatility

Investors steering clear of emerging markets bonds due to currency volatility

Finance
Mark McCarron, chief investment officer for Wescott Financial Advisory Group, believes in global diversification when it comes to investing in stocks. But not when it comes to bonds. The reason: currency risk. "Our fixed income exposure is almost exclusively in U.S. dollars," said McCarron, whose firm manages more than $ 2 billion in assets. "Currencies are volatile and they represent a much bigger part of bond returns than stock returns. "Investors can get wiped out investing in global fixed income if they do it un-hedged," he added. This year may no...
Investors can enjoy a tax savings on advisor fees by using this strategy

Investors can enjoy a tax savings on advisor fees by using this strategy

Finance
When investors sit down with their financial advisor to prepare their tax returns next year, they'll be confronted with new rules that for many mean an increase in the cost of having an advisor. The new tax law passed by Congress last year ends deductions on some types of advisory fees, including those based on the value of assets under management (AUM), a common way advisors charge clients. For both the client and advisor, this change is causing quite a bit of angst. Yet much of this worry is needless because many clients can still get a tax savings on some fees by using an equivalent strategy. ...
Lakshmi Vilas Bank shortlists five investors to sell stake

Lakshmi Vilas Bank shortlists five investors to sell stake

Finance
MUMBAI: Five financial investors, including the Blackstone Group, Bain Capital and TPG Capital Management, have been shortlisted to buy a controlling stake in Lakshmi Vilas Bank, reflecting continued private equity interest in the country’s financial services space. Baring Private Equity Asia and home-grown Gajja Capital are the two other contenders left in the penultimate round to acquire the 92-year-old, South-based bank, multiple sources with knowledge of the matter told ET. "Our advisers JP Morgan have shortlisted a few of the bidders," said P Mukherjee, managing director of the bank in an email reply confirming the matter. The process continues now. The extent of investment and the timing thereof is yet to be worked out," he said. The non-binding offers are in the range of Rs 140 to R