Tuesday, January 22, 2008

Of stock market crashes and cricket matches...

Hey! That rhymed. I swear I wasn't trying to make it rhyme. Anyway, on to today's rants. Yes, they are rants. First, the cricket match. Of course I am talking of the one we won. It was absolutely fantastic to see the famed Aussie batting line-up collapse like a pack of cards. And I, for one, was absolutely delighted to see Mr. Ponting and his men finally taste defeat. Notwithstanding their arrogance, I am tired of seeing the Aussies win all the time. For a sport to be interesting, there must be an element of uncertainty. If the result of the match is known before it ever happens, there is no point in watching the match. What better weekend could I have asked for after the Australian media called India cry babies for whining about the umpiring at Sydney because they could not take a defeat? Take it guys! We can play cricket too.

But while we are on the topic, I came across this article on the Sydney Morning Herald, albeit a few weeks too late. It is extremely irritating to see an Australian whine about having been stripped of the right to veto a decision at the ICC. Don't you get it guys? Veto power of any kind, in any forum, is fundamentally unequal and unjust. And yes, by any forum, I mean the UN Security Council too. After all, why should the fate of the world be determined by the whim of a select few? So, stop cribbing about how an Indian deprived you guys of your birth right to a veto. The attitude sucks. Here is an excellent blog post on the issue. Greatbong has analysed and argued much better than I could ever hope to.

That said, on the the stock market now. It crashed yesterday. And today. And, it will probably continue to fall tomorrow. I still haven't understood the cause of the original crash. Dad said it was a technical snag. Whatever the reason, it triggered off a massive fall in the prices of shares and the markets fell by about five percent today. What I don't understand is this. Why do people choose to sell as soon as there is a problem, and without analysing the underlying cause. As far as I can see, the Indian economy is doing reasonably well. There is nothing seriously wrong with it. The stock markets have been bullish for almost 3 months now. Why then, do people feel the need to dump as many shares as possible on a bad day? After all, India's is not an export-driven market. It has a huge domestic market to fall back on. If I had shares, I would probably adopt a wait-and-watch policy. The market are sure to rally. They are sure to recover on a few days, weeks, or months. I will probably still be able to cut my losses then. By selling when the markets crash, people only tend to maximise their losses. Correct me if I am wrong here, but my common sense tells me watch the markets closely before selling anything.

And finally, something unrelated to either the markets or cricket. Here is a recipe for Bisibelebath. I have never eaten bisibelebath with ginger-garlic paste in it. Every dish does not have to contain garlic, ginger and fennel seeds. It's possible to cook without any of it, you know? For a better, and more authentic recipe of the dish, check out my food blog (link in side bar). And for goodness' sake, check atleast 3 sites before deciding to make anything learnt from the net. Not all internet recipes are authentic, and even fewer taste original.

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