rediff.com: Transcript of the Ramesh S Damani Chat


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March 13, 2001 Stock Talk

'One can start buying'

'According to a maxim when there is blood on the Street you buy,' says Ramesh S Damani.

aruna : hello is Mr Damani there?
Ramesh Damani : hi aruna welcome to the show. Today is the "longest day in the stock market history."

ketan : So, finally with the broker-directors being thrown out, the BSE will finally be accountable to the small investors? What is your opinion, Mr Damani?
Ramesh Damani : I think it is inevetable. But the "professional argument is a red herring"

aruna : yes it seems like that. it has fallen a lot. why was it extended? is it because of the free fall?
Ramesh Damani : Because NSE extended its timing

shirish : when will the blood bath end?
Ramesh Damani : I hope soon

bulber : will the markets now take an upturn, or we likely to see more of the hammering?
Ramesh Damani : I hope NIIT and Infosys have made a bottom today

ketan : Has the resignation of Mr Koogle affected sentiments on IT stocks in India?
Ramesh Damani : Not directly

ketan : That is interesting, why do you say that the professional management argument is a red herring? Also, if BSE continues as it is doing, won't NSE or others take over from it?
Ramesh Damani : There are enough corrupt professionals. If NSE is better they will and should take the lead. Let the market decide

ashish : what is the chance of a payment crisis on bse and nse?
Ramesh Damani : bse and nse seem safe

Mohan : Would you advise satyam computers at this price?Thanks
Ramesh Damani : I would avoid it due to problems with SIFY

koolkat : Mr Damani why was trading on till 5 PM today?
Ramesh Damani : NSE started late so traded late

shirish : what is your advise to investors now? is it time for buying cheap stocks?
Ramesh Damani : According to a maxim when there is blood on the Street you buy

Mohan : What was the effect on today's markets due to some rumours of corruption in defence deal in Tehelka.com?Mohan
Ramesh Damani : Like oil on asphalt. Not pretty

lostit : are we in for a long term bear market?
Ramesh Damani : On the contrary it should be coming to an end

vivek : Would you recommend buying INFY at these prices to level out my losses?(i bought at 5800)
Ramesh Damani : It's worth a try. But keep a stop loss at today's low

koolkat : What does your portfolio comprise of Mr damani?
Ramesh Damani : Tech and psu's mainly

lostit : books say that when there is panic on the street it is time too buy. have we reached the panic?
Ramesh Damani : Yes I think we have

vasishta : sir,is it a good time for small investors to enter?
Ramesh Damani : yes, you can start buying

rajeev : how about buying NIIt now?
Ramesh Damani : niit looks good at this level

Administrator : Everyone, Mr Ramesh Damani had to rush off for some urgent work. He'll be back next Tuesday at 4 pm.

Join the Ramesh S Damani chat every Tuesday at 1600 IST.

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