Friendship . . .
. . . is you.
. . . is love.
. . . is shared.
. . . is forgiving.
. . . is understanding.
. . . is shared secrets.
. . . heals many hurts.
. . . is not judgmental.
. . . is shared laughter.
. . . is slow and steady.
. . . can be angry at times.
. . . is dependable and true.
. . . is more precious than silver or gold.
. . . is meant to be savored like fine wine.
. . . is not perfect, much like we are not perfect.
. . . does not hold grudges or demand perfection.
. . . makes all the wrong things in life, right somehow.
. . . is meant to be gulped like lemonade on a hot summer day.
. . . is always there, through times of trial, happy times and hard times.
. . . just happens, but once discovered, needs to be tended like a beautiful garden.
. . . is a road to be traveled slowly, remembering the sights and sounds.
. . . is strength when you are too weak to notice its there.
. . . is a cherished moment of mutual understanding.
. . . reaches into your heart and grabs a firm hold.
. . . is a refreshing rain on a hot day.
. . . is sunshine through the clouds.
. . . cannot be forced or induced.
. . . is relaxed and comfortable.
. . . is a shoulder to lean on.
. . . is an ear to whine to.
. . . gets better with age.
. . . is shared tears.
. . . is shared pain.
. . . is shared joy.
. . . is shared.
. . . is love.
. . . is you.
Tuesday, August 30, 2011
Thursday, August 25, 2011
Tata Power to invest Rs 1,000 cr to lay power cables in Mumbai
The country's largest private power generation company Tata Power plans to invest around Rs 1,000 crore over the next three years to lay its own cable network in Mumbai for power distribution, a senior company official said here.
"We will be investing around Rs 1,000 crore over the next three years to lay our own distribution network in Mumbai for supplying power to our customers," TPC Executive Director Sankaranarayanan Padmanabhan told reporters late yesterday after the company's AGM.
At present, TPC serves 8 lakh customers using the wire networks of BEST and Reliance Infrastructure to distribute electricity in the city and the suburbs, respectively.
TPC also has its own network in certain parts of the metropolis.
TPC is charged a fee called wheeling charges for distributing power through the RInfra and BEST networks, which the company then recovers from its consumers.
"Law allows wheeling and permits us to use the network of Reliance to distribute electricity in the suburbs. Before the Supreme Court order, we were not allowed to lay parallel network. But now we have rolled out a plan to lay our own network. We have put up a proposal to the MERC," he said.
In 2008, the Supreme Court had allowed TPC to supply electricity to retail consumers having a requirement of 1,000 KV or less in Mumbai.
Meanwhile, in a recent order, state electricity regulator MERC granted RInfra a licence to distribute electricity in the suburbs for 25 years, as the company's licence was due to expire on August 15.
MERC had rejected the proposals of four other bidders, including Torrent Power, Lanco Infrastructure, MSEDCL and Indiabulls, saying that they did not have their own networks in place, and granted Rinfra the licence in the "public interest".
"We will be investing around Rs 1,000 crore over the next three years to lay our own distribution network in Mumbai for supplying power to our customers," TPC Executive Director Sankaranarayanan Padmanabhan told reporters late yesterday after the company's AGM.
At present, TPC serves 8 lakh customers using the wire networks of BEST and Reliance Infrastructure to distribute electricity in the city and the suburbs, respectively.
TPC also has its own network in certain parts of the metropolis.
TPC is charged a fee called wheeling charges for distributing power through the RInfra and BEST networks, which the company then recovers from its consumers.
"Law allows wheeling and permits us to use the network of Reliance to distribute electricity in the suburbs. Before the Supreme Court order, we were not allowed to lay parallel network. But now we have rolled out a plan to lay our own network. We have put up a proposal to the MERC," he said.
In 2008, the Supreme Court had allowed TPC to supply electricity to retail consumers having a requirement of 1,000 KV or less in Mumbai.
Meanwhile, in a recent order, state electricity regulator MERC granted RInfra a licence to distribute electricity in the suburbs for 25 years, as the company's licence was due to expire on August 15.
MERC had rejected the proposals of four other bidders, including Torrent Power, Lanco Infrastructure, MSEDCL and Indiabulls, saying that they did not have their own networks in place, and granted Rinfra the licence in the "public interest".
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VISIT http://www.ibibz.com , real profiles only allowed.
you can do alot for fun here like video chatting, share and watch.
others videos, listion and share your songs.
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more,,,,,,,,,, just join http://www.ibibz.com/ for free.
Saturday, August 20, 2011
Money Making Opportunities in slipping Markets. | www.tradetoprofit.in
Unless you happen to have a crystal ball, there's no way to know how the stock market is going to behave in the short term. That's why a solid education on the ways of the stock market is the only way to trade profitably. Of course, it's been mostly doom and gloom lately on the stock market and many people have lost a lot of money. Unsurprisingly, many others have made a lot of money.
When prices drop at the supermarket, it's a "sale" and people rush in to get the good deals. A bear market is nothing but a "sale" in the stock market, caused by many people wanting to sell their investments at the same time, and the prices go down. And just like any other sale, there are some real bargains to be found.
For those who are heavily invested in the stock market, falling stock prices are certainly a cause for concern. But for those who have been wanting to invest and were on the fence, it can present some great opportunities, if the companies they're about to invest in are well-run. Buying when everyone else is selling has the potential to bring great financial rewards.
The financial sector has taken the brunt of the hit in this crisis, and has dragged down other sectors as well. But that doesn't mean that all sectors are doing badly. Some companies have solid fundamentals and continue to be profitable. You're going to have to do your research in order to find those gems and buy them.
Back to our previous point about understanding the basics, you will need to look at those companies' financials to determine whether or not the current fall in stock price is caused by the company not doing very well or just caused by widespread pessimism about the economy.
The companies that you find to be performing near their traditional levels in terms of financial performance are the good "buys". While everyone is selling them, you can certainly make money picking them up, setting yourself up for great gains when the economy turns around.
When prices drop at the supermarket, it's a "sale" and people rush in to get the good deals. A bear market is nothing but a "sale" in the stock market, caused by many people wanting to sell their investments at the same time, and the prices go down. And just like any other sale, there are some real bargains to be found.
For those who are heavily invested in the stock market, falling stock prices are certainly a cause for concern. But for those who have been wanting to invest and were on the fence, it can present some great opportunities, if the companies they're about to invest in are well-run. Buying when everyone else is selling has the potential to bring great financial rewards.
The financial sector has taken the brunt of the hit in this crisis, and has dragged down other sectors as well. But that doesn't mean that all sectors are doing badly. Some companies have solid fundamentals and continue to be profitable. You're going to have to do your research in order to find those gems and buy them.
Back to our previous point about understanding the basics, you will need to look at those companies' financials to determine whether or not the current fall in stock price is caused by the company not doing very well or just caused by widespread pessimism about the economy.
The companies that you find to be performing near their traditional levels in terms of financial performance are the good "buys". While everyone is selling them, you can certainly make money picking them up, setting yourself up for great gains when the economy turns around.
Thursday, August 18, 2011
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Wednesday, August 17, 2011
$360M lost to insurgents, criminals in Afghanistan
WASHINGTON (AP) — After examining hundreds of combat support and reconstruction contracts in Afghanistan, the U.S military estimates $360 million in U.S. tax dollars has ended up in the hands of people the American-led coalition has spent nearly a decade battling: the Taliban, criminals and power brokers with ties to both.
The losses underscore the challenges the U.S. and its international partners face in overcoming corruption in Afghanistan. A central part of the Obama administration's strategy has been to award U.S.-financed contracts to Afghan businesses to help improve quality of life and stoke the country's economy.
But until a special task force assembled by Gen. David Petraeus began its investigation last year, the coalition had little visibility into the connections many Afghan companies and their vast network of subcontractors had with insurgents and criminals — groups military officials call "malign actors."
In a murky process known as "reverse money laundering," payments from the U.S. pass through companies hired by the military for transportation, construction, power projects, fuel and other services to businesses and individuals with ties to the insurgency or criminal networks, according to interviews and task force documents obtained by the AP.
"Funds begin as clean monies," according to one document, then "either through direct payments or through the flow of funds in the subcontractor network, the monies become tainted."
The conclusions by Task Force 2010 represent the most definitive assessment of how U.S. military spending and aid to Afghanistan has been diverted to the enemy or stolen. Only a small percentage of the $360 million has been garnered by the Taliban and insurgent groups, said a senior U.S. military official in Kabul. The bulk of the money was lost to profiteering, bribery and extortion by criminals and power brokers, said the official, who declined to provide a specific breakdown.
The official requested anonymity to discuss the task force's ongoing investigation into the movement of U.S. contract money in Afghanistan. The documents obtained by The Associated Press were prepared earlier this year and provide an overview of the task force's work.
Overall, the $360 million represents a fraction of the $31 billion in active U.S. contracts that the task force reviewed. But insurgents rely on crude weaponry and require little money to operate. And the illicit gains buttress what the International Crisis Group, a Brussels-based think tank, referred to in a June report as a "nexus between criminal enterprises, insurgent networks and corrupt political elites" in Afghanistan.
More than half the losses flowed through a large transportation contract called Host Nation Trucking, the official said. Eight companies served as prime contractors and hired a web of nearly three dozen subcontractors for vehicles and convoy security to ship huge amounts of food, water, fuel and ammunition to American troops stationed at bases across Afghanistan.
The Defense Department announced Monday that it had selected 20 separate contractors for a new transportation contract potentially worth $983.5 million to replace Host Nation Trucking. Officials said the new arrangement will reduce the reliance on subcontractors and diminish the risk of money being lost. Under the new National Afghan Trucking Services contract, the military will be able to choose from a deeper pool of companies competing against one another to offer the best price to move supplies. The new arrangement also gives the U.S. more flexibility in determining whether security is needed for supply convoys and who should provide it, according to a description of the contract.
The Pentagon did not provide the names of the 20 companies picked due to worries that larger contractors who weren't selected might try and coerce them into a takeover, the senior defense official said. None of the eight prime contractors affiliated with the Host Nation Trucking contract are part of the new arrangement, the official added.
HEB International Logistics of Dubai, a Host Nation Trucking prime contractor, "made payments directly to malign actors," one of the task force documents reads. In 2009 and 2010, an HEB subcontractor identified in the document only as "Rohullah" received $1.7 million in payments. A congressional report issued last year said Rohullah — whose name is spelled Ruhallah in that report — is a warlord who controlled the convoy security business along the highway between Kabul and Kandahar, the two largest cities in Afghanistan.
Half a dozen attempts to reach officials at HEB's offices in Dubai by telephone were unsuccessful due to calls being transferred and lines going dead. It is also the holy month of Ramadan when many employees work shortened days and offices close early.
The congressional report said Rohullah's hundreds of heavily armed guards operated a protection racket, charging contractors moving U.S. military supplies along the highway as much as $1,500 a vehicle. Failure to pay virtually guaranteed a convoy of being attacked by Rohullah's forces, said the report, "Warlord Inc." Rohullah's guards regularly fought with the Taliban, but investigators believe Rohullah moved money to the Taliban when it was in his interest to do so.
Both Rohullah and the security company he was affiliated with, Watan Risk Management, denied ever making payments to the insurgents, according to the report. But in December, the U.S. placed Watan in "proposed debarment status," which prevented it from signing new contracts or renewing existing contracts. Watan challenged the decision in federal court. Two weeks ago, Watan and U.S. officials signed an agreement that states the company may not bid on any mobile security contracts for the next three years. The ban does not affect other companies controlled by Watan's owners.
The task force also said contractors engaged in profiteering by forming dummy companies. A task force document shows three tiers of subcontractors below Guzar Mirbacha Kot Transportation, an Afghan-owned trucking company known as GMT. Four of the subcontractors appear on the first and second tiers, collecting $14.2 million in payments.
Basir Mujahid, a GMT representative in Kabul, said top company officials were in Dubai and could not be reached for immediate comment.
Power brokers — a term widely used in Afghanistan — refer to Afghans who leverage their political and business connections to advance their own interests.
Another task force document details the case of a power broker who owned a private security company and was known to supply weapons to the Taliban. The power broker, who is not named in the document, received payments from a contractor doing business with the U.S. Over more than two years, the power broker funneled $8.5 million to the owners of an unlicensed money exchange service used by insurgents, according to the document.
Rep. John Tierney, D-Mass., former chairman of the House oversight panel that investigated the wayward payments, said that the U.S. must stop the diversion of taxpayer dollars to the enemy. "When war becomes good business for the insurgents, it is all the more difficult to convince them to lay down their arms," Tierney said.
U.S. authorities in Afghanistan are screening contractors more carefully to be sure they can handle the work and also are trustworthy, the senior military official said. Authorities also are being more aggressive in barring companies if they violate contract terms or are found to be involved in illicit activities. Since the task force was created last year, the number of debarred Afghan, U.S. and international companies and individuals associated with contracting in Afghanistan has more than doubled — from 31 to 78, the official said.
Petraeus, who recently relinquished command in Afghanistan to become CIA director, told his commanders in a September 2010 memo to keep close watch over contracting dollars and "know those with whom we are contracting." Failing to do so could "unintentionally fuel corruption, finance insurgent organizations, strengthen criminal patronage networks, and undermine our efforts in Afghanistan," he wrote.
Tierney, the top Democrat on the House Oversight and Government Reform national security subcommittee, said the new trucking contract announced Monday is a welcome step. But he said he is still worried the military still lacks sufficient visibility and accountability over payments. The subcommittee has scheduled a hearing next month to examine the contract and the risks of outsourcing security in a combat zone.
The losses underscore the challenges the U.S. and its international partners face in overcoming corruption in Afghanistan. A central part of the Obama administration's strategy has been to award U.S.-financed contracts to Afghan businesses to help improve quality of life and stoke the country's economy.
But until a special task force assembled by Gen. David Petraeus began its investigation last year, the coalition had little visibility into the connections many Afghan companies and their vast network of subcontractors had with insurgents and criminals — groups military officials call "malign actors."
In a murky process known as "reverse money laundering," payments from the U.S. pass through companies hired by the military for transportation, construction, power projects, fuel and other services to businesses and individuals with ties to the insurgency or criminal networks, according to interviews and task force documents obtained by the AP.
"Funds begin as clean monies," according to one document, then "either through direct payments or through the flow of funds in the subcontractor network, the monies become tainted."
The conclusions by Task Force 2010 represent the most definitive assessment of how U.S. military spending and aid to Afghanistan has been diverted to the enemy or stolen. Only a small percentage of the $360 million has been garnered by the Taliban and insurgent groups, said a senior U.S. military official in Kabul. The bulk of the money was lost to profiteering, bribery and extortion by criminals and power brokers, said the official, who declined to provide a specific breakdown.
The official requested anonymity to discuss the task force's ongoing investigation into the movement of U.S. contract money in Afghanistan. The documents obtained by The Associated Press were prepared earlier this year and provide an overview of the task force's work.
Overall, the $360 million represents a fraction of the $31 billion in active U.S. contracts that the task force reviewed. But insurgents rely on crude weaponry and require little money to operate. And the illicit gains buttress what the International Crisis Group, a Brussels-based think tank, referred to in a June report as a "nexus between criminal enterprises, insurgent networks and corrupt political elites" in Afghanistan.
More than half the losses flowed through a large transportation contract called Host Nation Trucking, the official said. Eight companies served as prime contractors and hired a web of nearly three dozen subcontractors for vehicles and convoy security to ship huge amounts of food, water, fuel and ammunition to American troops stationed at bases across Afghanistan.
The Defense Department announced Monday that it had selected 20 separate contractors for a new transportation contract potentially worth $983.5 million to replace Host Nation Trucking. Officials said the new arrangement will reduce the reliance on subcontractors and diminish the risk of money being lost. Under the new National Afghan Trucking Services contract, the military will be able to choose from a deeper pool of companies competing against one another to offer the best price to move supplies. The new arrangement also gives the U.S. more flexibility in determining whether security is needed for supply convoys and who should provide it, according to a description of the contract.
The Pentagon did not provide the names of the 20 companies picked due to worries that larger contractors who weren't selected might try and coerce them into a takeover, the senior defense official said. None of the eight prime contractors affiliated with the Host Nation Trucking contract are part of the new arrangement, the official added.
HEB International Logistics of Dubai, a Host Nation Trucking prime contractor, "made payments directly to malign actors," one of the task force documents reads. In 2009 and 2010, an HEB subcontractor identified in the document only as "Rohullah" received $1.7 million in payments. A congressional report issued last year said Rohullah — whose name is spelled Ruhallah in that report — is a warlord who controlled the convoy security business along the highway between Kabul and Kandahar, the two largest cities in Afghanistan.
Half a dozen attempts to reach officials at HEB's offices in Dubai by telephone were unsuccessful due to calls being transferred and lines going dead. It is also the holy month of Ramadan when many employees work shortened days and offices close early.
The congressional report said Rohullah's hundreds of heavily armed guards operated a protection racket, charging contractors moving U.S. military supplies along the highway as much as $1,500 a vehicle. Failure to pay virtually guaranteed a convoy of being attacked by Rohullah's forces, said the report, "Warlord Inc." Rohullah's guards regularly fought with the Taliban, but investigators believe Rohullah moved money to the Taliban when it was in his interest to do so.
Both Rohullah and the security company he was affiliated with, Watan Risk Management, denied ever making payments to the insurgents, according to the report. But in December, the U.S. placed Watan in "proposed debarment status," which prevented it from signing new contracts or renewing existing contracts. Watan challenged the decision in federal court. Two weeks ago, Watan and U.S. officials signed an agreement that states the company may not bid on any mobile security contracts for the next three years. The ban does not affect other companies controlled by Watan's owners.
The task force also said contractors engaged in profiteering by forming dummy companies. A task force document shows three tiers of subcontractors below Guzar Mirbacha Kot Transportation, an Afghan-owned trucking company known as GMT. Four of the subcontractors appear on the first and second tiers, collecting $14.2 million in payments.
Basir Mujahid, a GMT representative in Kabul, said top company officials were in Dubai and could not be reached for immediate comment.
Power brokers — a term widely used in Afghanistan — refer to Afghans who leverage their political and business connections to advance their own interests.
Another task force document details the case of a power broker who owned a private security company and was known to supply weapons to the Taliban. The power broker, who is not named in the document, received payments from a contractor doing business with the U.S. Over more than two years, the power broker funneled $8.5 million to the owners of an unlicensed money exchange service used by insurgents, according to the document.
Rep. John Tierney, D-Mass., former chairman of the House oversight panel that investigated the wayward payments, said that the U.S. must stop the diversion of taxpayer dollars to the enemy. "When war becomes good business for the insurgents, it is all the more difficult to convince them to lay down their arms," Tierney said.
U.S. authorities in Afghanistan are screening contractors more carefully to be sure they can handle the work and also are trustworthy, the senior military official said. Authorities also are being more aggressive in barring companies if they violate contract terms or are found to be involved in illicit activities. Since the task force was created last year, the number of debarred Afghan, U.S. and international companies and individuals associated with contracting in Afghanistan has more than doubled — from 31 to 78, the official said.
Petraeus, who recently relinquished command in Afghanistan to become CIA director, told his commanders in a September 2010 memo to keep close watch over contracting dollars and "know those with whom we are contracting." Failing to do so could "unintentionally fuel corruption, finance insurgent organizations, strengthen criminal patronage networks, and undermine our efforts in Afghanistan," he wrote.
Tierney, the top Democrat on the House Oversight and Government Reform national security subcommittee, said the new trucking contract announced Monday is a welcome step. But he said he is still worried the military still lacks sufficient visibility and accountability over payments. The subcommittee has scheduled a hearing next month to examine the contract and the risks of outsourcing security in a combat zone.
Monday, August 15, 2011
Hindalco net profit jumps 21% in Q1
Hindalco, an Aditya Birla Group company, announced a 21% year-on-year jump in its net profit at Rs 644 crore for the quarter ended June 30, 2011 as against Rs 534 profit posted in the corresponding period in 2010. The company’s net sales at Rs 6,031 crore in April-June 2011 quarter were
up 16% from Rs 5,178 crore notched up in the same period last year. The increase comes despite flat volumes, as improved efficiency at the non-ferrous metals producer offset rising inflation and input costs.
“The results would have been better, but for the increased input costs (especially coal) and an appreciating rupee,” it said in a statement.
In its outlook, Hindalco said that the environment in both aluminum and copper businesses has become very challenging due to volatile London Metal Exchange, spiralling energy and other costs and non-availability of coal.
up 16% from Rs 5,178 crore notched up in the same period last year. The increase comes despite flat volumes, as improved efficiency at the non-ferrous metals producer offset rising inflation and input costs.
“The results would have been better, but for the increased input costs (especially coal) and an appreciating rupee,” it said in a statement.
In its outlook, Hindalco said that the environment in both aluminum and copper businesses has become very challenging due to volatile London Metal Exchange, spiralling energy and other costs and non-availability of coal.
Anna Hazare | No permission for Aug 16 fast, Team Anna defiant
tradetoprofitConfrontation between Anna Hazare and Government escalated today with police denying permission to the Gandhian for holding a fast from tomorrow to press for a strong Lokpal Bill and his team declaring that they would go ahead with the planned stir and court arrest if prevented. Delhi
related stories
PM decries hunger strikes as means for ending corruption
Police's refusal of permission coincided with Prime Minister Manmohan Singh's strong remarks in his Independence Day speech that hunger strikes and fasts-unto-death do not help address the problem of corruption and Parliament is the only body to form legislations to curb the menace.
The city police did not give its nod to hold the protest at Jai Prakash Narain Park near Ferozeshah Kotla stadium saying that the organisers have refused to give an undertaking on restricting the number of days of protest and protesters besides four other conditions.
Sudhir Yadav, joint commissioner of police (Northern Range), said anybody assembling at the Park tomorrow would face legal action.
"We have denied the permission. Nobody is supposed to come to the park. If somebody comes there, it is unlawful. They will be handled according to law. If they do that, it is violation of law," Yadav said as police prepared to lock down the grounds.
The Hazare team said they have given an undertaking leaving six out of the 22 conditions laid by police. "We have not accepted six conditions as they are unconstitutional," activists Arvind Kejriwal and Kiran Bedi said.
The activists said Hazare would go to the venue and court arrest if he and his supporters were not allowed to enter the park. "We will court arrest tomorrow. The conditions laid by the Delhi Police are unconstitutional. Unfortunately they are under directions," Bedi said.
Kejriwal alleged that the denial of permission showed the "dictatorial and arbitrary attitude" of government and that it was creating an Emergency-like situation.
Asked whether they would approach court against the Delhi Police action, Kejriwal said, "All options are open and there is an option to go to court." Lawyer Prashant Bhushan had yesterday said they may approach Supreme Court if a permission is denied.
The conditions that were not accepted by the Hazare team were capping the agitation to three days and the number of protesters to below 5,000, government doctors to check on Hazare, ban on use of loudspeakers after 9 PM, limiting the number of vehicles to 50 cars and 50 motorcycles in parking and not erecting tents.
Government, meanwhile, justified the police action with regard to Hazare's fast. Information and broadcasting minister Ambika Soni said the law of the land is the same for all and that everybody will have to take permission to carry out any protest.
A senior police official said they had been "very accommodating" and had gone out of the way to help the Hazare team. He said they would be forced to take action against them if they forcibly enter the park tomorrow.
However, Kejriwal alleged, "The conditions set by police were at the behest of politicians. Artificial restrictions were imposed on us. We won't agree to such unconstitutional methods." Soni denied these allegations.
Earlier in the day while addressing the nation on the occasion of Independence Day, the Prime Minister said those who are opposed to the bill should not resort to hunger strikes and fasts-unto-death.
Without naming Hazare and his agitation beginning here tomorrow, Singh said he was aware that some people had different opinion on some aspects of the lokpal bill.
"Those who don't agree with this bill can put forward their views to Parliament, political parties and even the press. However, I also believe they should not resort to hunger strikes and fasts-unto-death," the Prime Minister said.
Reacting to this, the Hazare team called him an "insensitive" person who is asking people to fall in line on the issue.
Bedi claimed people have no trust left in the UPA government which was elected two years back as it had "squandered" an opportunity to make history by enacting a law for strong anti-corruption ombudsman.
"He speaks like a final arbiter. He says you cannot protest. This is a direct imposition of a bill on people against their will. The Prime Minister is imposing a bill on the country and saying protest fast is wrong. The PM is asking people to fall in line," Bedi told PTI.
"He is insensitive to people's perception. Surveys after surveys and referendums after referendums showed that people rejected the government's lokpal bill. He is not taking this into account," she alleged.
Supporting the Hazare team on the issue, senior CPI(M) leader Brinda Karat said one's right to protest cannot be questioned even if you do not agree with the demands of the agitator.
"The point here is one may not agree with the form of protest or with all the demands being raised by Hazare. However, his right to protest cannot be questioned. Saying once a bill is in Parliament, there can be no protest in this country is highly undemocratic.
"The Congress has forgotten when it was in opposition and when it is in Opposition, even in the states there are so many occasions they do not agree with a bill and they have staged a protest," she said.
related stories
PM decries hunger strikes as means for ending corruption
Police's refusal of permission coincided with Prime Minister Manmohan Singh's strong remarks in his Independence Day speech that hunger strikes and fasts-unto-death do not help address the problem of corruption and Parliament is the only body to form legislations to curb the menace.
The city police did not give its nod to hold the protest at Jai Prakash Narain Park near Ferozeshah Kotla stadium saying that the organisers have refused to give an undertaking on restricting the number of days of protest and protesters besides four other conditions.
Sudhir Yadav, joint commissioner of police (Northern Range), said anybody assembling at the Park tomorrow would face legal action.
"We have denied the permission. Nobody is supposed to come to the park. If somebody comes there, it is unlawful. They will be handled according to law. If they do that, it is violation of law," Yadav said as police prepared to lock down the grounds.
The Hazare team said they have given an undertaking leaving six out of the 22 conditions laid by police. "We have not accepted six conditions as they are unconstitutional," activists Arvind Kejriwal and Kiran Bedi said.
The activists said Hazare would go to the venue and court arrest if he and his supporters were not allowed to enter the park. "We will court arrest tomorrow. The conditions laid by the Delhi Police are unconstitutional. Unfortunately they are under directions," Bedi said.
Kejriwal alleged that the denial of permission showed the "dictatorial and arbitrary attitude" of government and that it was creating an Emergency-like situation.
Asked whether they would approach court against the Delhi Police action, Kejriwal said, "All options are open and there is an option to go to court." Lawyer Prashant Bhushan had yesterday said they may approach Supreme Court if a permission is denied.
The conditions that were not accepted by the Hazare team were capping the agitation to three days and the number of protesters to below 5,000, government doctors to check on Hazare, ban on use of loudspeakers after 9 PM, limiting the number of vehicles to 50 cars and 50 motorcycles in parking and not erecting tents.
Government, meanwhile, justified the police action with regard to Hazare's fast. Information and broadcasting minister Ambika Soni said the law of the land is the same for all and that everybody will have to take permission to carry out any protest.
A senior police official said they had been "very accommodating" and had gone out of the way to help the Hazare team. He said they would be forced to take action against them if they forcibly enter the park tomorrow.
However, Kejriwal alleged, "The conditions set by police were at the behest of politicians. Artificial restrictions were imposed on us. We won't agree to such unconstitutional methods." Soni denied these allegations.
Earlier in the day while addressing the nation on the occasion of Independence Day, the Prime Minister said those who are opposed to the bill should not resort to hunger strikes and fasts-unto-death.
Without naming Hazare and his agitation beginning here tomorrow, Singh said he was aware that some people had different opinion on some aspects of the lokpal bill.
"Those who don't agree with this bill can put forward their views to Parliament, political parties and even the press. However, I also believe they should not resort to hunger strikes and fasts-unto-death," the Prime Minister said.
Reacting to this, the Hazare team called him an "insensitive" person who is asking people to fall in line on the issue.
Bedi claimed people have no trust left in the UPA government which was elected two years back as it had "squandered" an opportunity to make history by enacting a law for strong anti-corruption ombudsman.
"He speaks like a final arbiter. He says you cannot protest. This is a direct imposition of a bill on people against their will. The Prime Minister is imposing a bill on the country and saying protest fast is wrong. The PM is asking people to fall in line," Bedi told PTI.
"He is insensitive to people's perception. Surveys after surveys and referendums after referendums showed that people rejected the government's lokpal bill. He is not taking this into account," she alleged.
Supporting the Hazare team on the issue, senior CPI(M) leader Brinda Karat said one's right to protest cannot be questioned even if you do not agree with the demands of the agitator.
"The point here is one may not agree with the form of protest or with all the demands being raised by Hazare. However, his right to protest cannot be questioned. Saying once a bill is in Parliament, there can be no protest in this country is highly undemocratic.
"The Congress has forgotten when it was in opposition and when it is in Opposition, even in the states there are so many occasions they do not agree with a bill and they have staged a protest," she said.
Saturday, August 13, 2011
What to buy your sweetheart for Christmas
Coming up with the perfect Christmas present for your significant other can be daunting, especially when you've been dating such a short time that you're not quite familiar with the eccentricities of his or her music taste but you still want to impress with an unexpectedly thoughtful and insightful gift that will buy you a few more weeks, at least.
Flowers and chocolates, a la Valentine's Day, are very sweet, but they pretty much prove you don't know your honey at all, unless she's super into exotic buds or something. If you don't happen to be dating a horticulturist, don't go this route. Here's a quick-and-dirty list of our top picks for new couples:
A book -- Unless your lover is an English major, you probably can't go wrong with a classic that has something to do with romance. Go with "The Unbearable Lightness of Being" or "Love in Time of Cholera." It gives you the perfect chance to hint at your deeper, tortured, artistic side, and you get to write a sappy inscription. (Hint: If you haven't read the book, stay away from comparing you and your sweetie to the characters. Fiction authors are not to be trusted with your relationship.)
A soulful hits compilation -- Even if it's not his style, no one is going to balk at a sexy collection of slow-danceable love songs (at least not to your face). It gives the two of you a chance to get close, and if the cheese factor is over the top, y'all can laugh about it together and then put on something good.
Massage oil -- Ok, you might want to be careful with this one, but if you play your cards right, it’s a great gift. If you're ready to take things to the next level, it implies that it's time to get physical. If you're not, this present can come off as a little presumptuous, but you can always backtrack and offer up a neck-and-shoulder massage to smooth things over.
No matter what gift you go with, the fact that you're putting some effort into it bodes well for the future of your union. Don't be afraid to dive in and find something your new love will really like -- just take our advice and stay away from gift cards!
Flowers and chocolates, a la Valentine's Day, are very sweet, but they pretty much prove you don't know your honey at all, unless she's super into exotic buds or something. If you don't happen to be dating a horticulturist, don't go this route. Here's a quick-and-dirty list of our top picks for new couples:
A book -- Unless your lover is an English major, you probably can't go wrong with a classic that has something to do with romance. Go with "The Unbearable Lightness of Being" or "Love in Time of Cholera." It gives you the perfect chance to hint at your deeper, tortured, artistic side, and you get to write a sappy inscription. (Hint: If you haven't read the book, stay away from comparing you and your sweetie to the characters. Fiction authors are not to be trusted with your relationship.)
A soulful hits compilation -- Even if it's not his style, no one is going to balk at a sexy collection of slow-danceable love songs (at least not to your face). It gives the two of you a chance to get close, and if the cheese factor is over the top, y'all can laugh about it together and then put on something good.
Massage oil -- Ok, you might want to be careful with this one, but if you play your cards right, it’s a great gift. If you're ready to take things to the next level, it implies that it's time to get physical. If you're not, this present can come off as a little presumptuous, but you can always backtrack and offer up a neck-and-shoulder massage to smooth things over.
No matter what gift you go with, the fact that you're putting some effort into it bodes well for the future of your union. Don't be afraid to dive in and find something your new love will really like -- just take our advice and stay away from gift cards!
5 Fixed-Income Bear-Market Strategies
If you withdraw regular amounts from your portfolio to cover your living expenses during a market downdraft, you must sell more shares at a lower price. It's essentially the reverse of dollar-cost averaging, which is what you did during the accumulation phase when you invested money at regular intervals. Dollar-cost averaging involves buying more shares when the market is down or fewer shares when it's up.
"You're liquidating a portion of the portfolio and locking in those negative returns and creating some very bad outcomes," says Stephen Horan, head of private wealth management for the CFA Institute and co-author of "The New Wealth Management."
"We call that sequence-of-return risk," he says.
In such a scenario, it's best to leave stocks alone to recover from the loss and to draw instead on the fixed-income portion of your portfolio. Retirement experts recommend employing one of the top five fixed-income strategies to ensure enough income in a bear market. Following are the pros and cons of each method.
CD ladder
A solid fixed-income strategy begins with calculating your bare-bones expenses and looking at what you will receive from Social Security and any defined-benefit pension. Next, choose a vehicle to ensure enough income each year to make up the difference.
One simple option is to design a CD ladder, such as a combination of one-, three- and five-year CDs, the principal amounts of which will cover your income needs in case stocks fall, says Rick Rodgers, a Certified Financial Planner in Lancaster, Pa. If the stock market is up, you can reinvest funds from the maturing CDs in higher-rate CDs rather than spending the principal.
"You're never going to make money in fixed income; that's not the purpose of it. After taxes and inflation, it's break-even at best," Rodgers says. This is particularly true in these times of low yields.
"When the market is going up, I am going to be overweighted in stocks so I will be selling some stocks and putting it into fixed income," says Rodgers. "It smooths out the ups and downs."
The downside of a CD ladder: low yields, no upside as the market fluctuates and continual effort to reinvest maturing CDs, says Lynn Mayabb, CFP, a senior managing adviser at BKD Wealth Advisors in the Kansas City, Mo., office.
Don't let CD penalties prevent you from withdrawing your cash early, though. Weigh the penalty against the potential gain or need, Mayabb says.
Bond ladder
If you're looking for a little higher yield, consider creating a ladder of bonds with sequential maturities. "Having that money come due on a regular basis eliminates the need to have a lot of money sitting in cash," Rodgers says.
The two key risks to investing in bonds are interest rates rising and credit quality declining. "We address both of those issues by laddering it. Each one of those bonds that makes up the bond ladder is different," he says.
It's a good idea to stick with highly rated bonds and stable companies, and be sure to monitor your picks for any decline in quality.
One danger of a bond ladder is that you can inadvertently shift the asset allocation of your portfolio if you don't manage carefully, Horan says. As the front of the ladder matures, the makeup of your investments shifts. On the plus side, you've guaranteed enough income for the critical first years of retirement, which "set the initial path" for your retirement portfolio, he says.
For an individual investor, a properly diversified bond ladder is likely to be too much work, says Carlo Panaccione, CFP and founder of the Navigation Group in Redwood City, Calif. A good financial planner can set this up for you, but you generally need a minimum of $100,000 to construct a properly diversified bond ladder.
Variants on bond ladders
"Sometimes a bond ladder doesn't always make sense, depending on what the yield curve looks like," Mayabb says. Often, the middle-term maturities tie up your cash longer but fail to reward you with higher rates.
Instead, she favors a barbell approach, in which you divide your money equally between short-term bonds and those with 10- to 15-year maturities, skipping intermediate-term bonds altogether. "Those are the sweeter spots for getting the rates."
Or consider laddering the coupon payments on a bond, rather than the bonds themselves, Horan says. For instance, if you need $50,000 each year, you could buy a five-year bond with a 5 percent coupon and $1 million face value. At the end of the five years, you'd get $1 million back.
It may be more efficient to find a single bond with the desired payment structure, rather than piecing together five different bonds in a laddered structure, he says.
As with a traditional bond ladder, these variants may also suffer from a lack of diversification and need to be monitored for credit quality, says Panaccione.
Floating-rate fund
If all this seems like too much work, consider investing in a floating-rate fund -- also called a bank-loan fund -- which holds a variety of bonds or bank loans with adjustable rates, giving you exposure to a range of credits. "In fixed income, you have to be realistic about how closely you're willing to watch" credit quality, Panaccione says. "If you're not willing to review things on a regular basis, don't buy individual bonds."
Unlike individual bonds, floating-rate funds have no maturity date, so you can lose principal if market fluctuations cause fixed-income investments to drop in value. "I don't like bond funds because they don't guarantee my principal," Rodgers says, while conceding that they can be a good choice in some cases. "For the individual investor who's not using an adviser, they should be using a bond fund."
Focus on the total return of your portfolio, rather than the rise or fall in a particular fund, says Anthony Valeri, CFA, a senior vice president and market strategist at LPL Financial in San Diego. Liquidity is an issue, since these bonds don't trade on an exchange. "If we have a recession you'll see price declines" in floating-rate funds, Valeri says.
Annuity
The classic strategy for ensuring a stream of income in retirement, of course, is purchasing an immediate annuity. This insurance product guarantees that you will receive a stream of payments for as long as you live.
The downside: You pay a premium for that guarantee and lose control of your assets forever.
"I've done annuities this year only because of clients demanding them," Panaccione says. The insurance companies are "probably investing in what you would've invested in and charging you a premium. Is that what you need to sleep at night? Then it's probably worth paying the premium."
If you're married, the question of an annuity becomes more complicated. You can buy a joint life and survivor annuity for a smaller payout, or opt for provisions that guarantee some portion of your payment goes to your spouse if you die. But it will cost you, Mayabb says.
By choosing an annuity, you lose the flexibility of changing your mind. "Once you annuitize, those assets are no longer yours," she says. "With a bond ladder, CD ladder or investment account, if something happens and you need $20,000, you go sell something."
"You're liquidating a portion of the portfolio and locking in those negative returns and creating some very bad outcomes," says Stephen Horan, head of private wealth management for the CFA Institute and co-author of "The New Wealth Management."
"We call that sequence-of-return risk," he says.
In such a scenario, it's best to leave stocks alone to recover from the loss and to draw instead on the fixed-income portion of your portfolio. Retirement experts recommend employing one of the top five fixed-income strategies to ensure enough income in a bear market. Following are the pros and cons of each method.
CD ladder
A solid fixed-income strategy begins with calculating your bare-bones expenses and looking at what you will receive from Social Security and any defined-benefit pension. Next, choose a vehicle to ensure enough income each year to make up the difference.
One simple option is to design a CD ladder, such as a combination of one-, three- and five-year CDs, the principal amounts of which will cover your income needs in case stocks fall, says Rick Rodgers, a Certified Financial Planner in Lancaster, Pa. If the stock market is up, you can reinvest funds from the maturing CDs in higher-rate CDs rather than spending the principal.
"You're never going to make money in fixed income; that's not the purpose of it. After taxes and inflation, it's break-even at best," Rodgers says. This is particularly true in these times of low yields.
"When the market is going up, I am going to be overweighted in stocks so I will be selling some stocks and putting it into fixed income," says Rodgers. "It smooths out the ups and downs."
The downside of a CD ladder: low yields, no upside as the market fluctuates and continual effort to reinvest maturing CDs, says Lynn Mayabb, CFP, a senior managing adviser at BKD Wealth Advisors in the Kansas City, Mo., office.
Don't let CD penalties prevent you from withdrawing your cash early, though. Weigh the penalty against the potential gain or need, Mayabb says.
Bond ladder
If you're looking for a little higher yield, consider creating a ladder of bonds with sequential maturities. "Having that money come due on a regular basis eliminates the need to have a lot of money sitting in cash," Rodgers says.
The two key risks to investing in bonds are interest rates rising and credit quality declining. "We address both of those issues by laddering it. Each one of those bonds that makes up the bond ladder is different," he says.
It's a good idea to stick with highly rated bonds and stable companies, and be sure to monitor your picks for any decline in quality.
One danger of a bond ladder is that you can inadvertently shift the asset allocation of your portfolio if you don't manage carefully, Horan says. As the front of the ladder matures, the makeup of your investments shifts. On the plus side, you've guaranteed enough income for the critical first years of retirement, which "set the initial path" for your retirement portfolio, he says.
For an individual investor, a properly diversified bond ladder is likely to be too much work, says Carlo Panaccione, CFP and founder of the Navigation Group in Redwood City, Calif. A good financial planner can set this up for you, but you generally need a minimum of $100,000 to construct a properly diversified bond ladder.
Variants on bond ladders
"Sometimes a bond ladder doesn't always make sense, depending on what the yield curve looks like," Mayabb says. Often, the middle-term maturities tie up your cash longer but fail to reward you with higher rates.
Instead, she favors a barbell approach, in which you divide your money equally between short-term bonds and those with 10- to 15-year maturities, skipping intermediate-term bonds altogether. "Those are the sweeter spots for getting the rates."
Or consider laddering the coupon payments on a bond, rather than the bonds themselves, Horan says. For instance, if you need $50,000 each year, you could buy a five-year bond with a 5 percent coupon and $1 million face value. At the end of the five years, you'd get $1 million back.
It may be more efficient to find a single bond with the desired payment structure, rather than piecing together five different bonds in a laddered structure, he says.
As with a traditional bond ladder, these variants may also suffer from a lack of diversification and need to be monitored for credit quality, says Panaccione.
Floating-rate fund
If all this seems like too much work, consider investing in a floating-rate fund -- also called a bank-loan fund -- which holds a variety of bonds or bank loans with adjustable rates, giving you exposure to a range of credits. "In fixed income, you have to be realistic about how closely you're willing to watch" credit quality, Panaccione says. "If you're not willing to review things on a regular basis, don't buy individual bonds."
Unlike individual bonds, floating-rate funds have no maturity date, so you can lose principal if market fluctuations cause fixed-income investments to drop in value. "I don't like bond funds because they don't guarantee my principal," Rodgers says, while conceding that they can be a good choice in some cases. "For the individual investor who's not using an adviser, they should be using a bond fund."
Focus on the total return of your portfolio, rather than the rise or fall in a particular fund, says Anthony Valeri, CFA, a senior vice president and market strategist at LPL Financial in San Diego. Liquidity is an issue, since these bonds don't trade on an exchange. "If we have a recession you'll see price declines" in floating-rate funds, Valeri says.
Annuity
The classic strategy for ensuring a stream of income in retirement, of course, is purchasing an immediate annuity. This insurance product guarantees that you will receive a stream of payments for as long as you live.
The downside: You pay a premium for that guarantee and lose control of your assets forever.
"I've done annuities this year only because of clients demanding them," Panaccione says. The insurance companies are "probably investing in what you would've invested in and charging you a premium. Is that what you need to sleep at night? Then it's probably worth paying the premium."
If you're married, the question of an annuity becomes more complicated. You can buy a joint life and survivor annuity for a smaller payout, or opt for provisions that guarantee some portion of your payment goes to your spouse if you die. But it will cost you, Mayabb says.
By choosing an annuity, you lose the flexibility of changing your mind. "Once you annuitize, those assets are no longer yours," she says. "With a bond ladder, CD ladder or investment account, if something happens and you need $20,000, you go sell something."
Fixed-Income Bear-Market Strategies
One of the biggest risks to your retirement is facing a bear market during the early years after you stop working. If you must sell stocks in a falling market, you risk depleting your nest egg at exactly the moment you need it — leaving you with too little savings to cover your needs for your retirement.
More from Bankrate.com:
• 7 Investment Strategies That Defy Downturn
• U.S. Credit Rating slide: What It Means
• Fear of Losing Money Can Set Investors Back
If you withdraw regular amounts from your portfolio to cover your living expenses during a market downdraft, you must sell more shares at a lower price. It's essentially the reverse of dollar-cost averaging, which is what you did during the accumulation phase when you invested money at regular intervals. Dollar-cost averaging involves buying more shares when the market is down or fewer shares when it's up.
"You're liquidating a portion of the portfolio and locking in those negative returns and creating some very bad outcomes," says Stephen Horan, head of private wealth management for the CFA Institute and co-author of "The New Wealth Management."
"We call that sequence-of-return risk," he says.
In such a scenario, it's best to leave stocks alone to recover from the loss and to draw instead on the fixed-income portion of your portfolio. Retirement experts recommend employing one of the top five fixed-income strategies to ensure enough income in a bear market. Following are the pros and cons of each method.
CD ladder
A solid fixed-income strategy begins with calculating your bare-bones expenses and looking at what you will receive from Social Security and any defined-benefit pension. Next, choose a vehicle to ensure enough income each year to make up the difference.
One simple option is to design a CD ladder, such as a combination of one-, three- and five-year CDs, the principal amounts of which will cover your income needs in case stocks fall, says Rick Rodgers, a Certified Financial Planner in Lancaster, Pa. If the stock market is up, you can reinvest funds from the maturing CDs in higher-rate CDs rather than spending the principal.
"You're never going to make money in fixed income; that's not the purpose of it. After taxes and inflation, it's break-even at best," Rodgers says. This is particularly true in these times of low yields.
"When the market is going up, I am going to be overweighted in stocks so I will be selling some stocks and putting it into fixed income," says Rodgers. "It smooths out the ups and downs."
The downside of a CD ladder: low yields, no upside as the market fluctuates and continual effort to reinvest maturing CDs, says Lynn Mayabb, CFP, a senior managing adviser at BKD Wealth Advisors in the Kansas City, Mo., office.
Don't let CD penalties prevent you from withdrawing your cash early, though. Weigh the penalty against the potential gain or need, Mayabb says.
Bond ladder
If you're looking for a little higher yield, consider creating a ladder of bonds with sequential maturities. "Having that money come due on a regular basis eliminates the need to have a lot of money sitting in cash," Rodgers says.
The two key risks to investing in bonds are interest rates rising and credit quality declining. "We address both of those issues by laddering it. Each one of those bonds that makes up the bond ladder is different," he says.
It's a good idea to stick with highly rated bonds and stable companies, and be sure to monitor your picks for any decline in quality.
One danger of a bond ladder is that you can inadvertently shift the asset allocation of your portfolio if you don't manage carefully, Horan says. As the front of the ladder matures, the makeup of your investments shifts. On the plus side, you've guaranteed enough income for the critical first years of retirement, which "set the initial path" for your retirement portfolio, he says.
For an individual investor, a properly diversified bond ladder is likely to be too much work, says Carlo Panaccione, CFP and founder of the Navigation Group in Redwood City, Calif. A good financial planner can set this up for you, but you generally need a minimum of $100,000 to construct a properly diversified bond ladder.
Variants on bond ladders
"Sometimes a bond ladder doesn't always make sense, depending on what the yield curve looks like," Mayabb says. Often, the middle-term maturities tie up your cash longer but fail to reward you with higher rates.
Instead, she favors a barbell approach, in which you divide your money equally between short-term bonds and those with 10- to 15-year maturities, skipping intermediate-term bonds altogether. "Those are the sweeter spots for getting the rates."
Or consider laddering the coupon payments on a bond, rather than the bonds themselves, Horan says. For instance, if you need $50,000 each year, you could buy a five-year bond with a 5 percent coupon and $1 million face value. At the end of the five years, you'd get $1 million back.
It may be more efficient to find a single bond with the desired payment structure, rather than piecing together five different bonds in a laddered structure, he says.
As with a traditional bond ladder, these variants may also suffer from a lack of diversification and need to be monitored for credit quality, says Panaccione.
Floating-rate fund
If all this seems like too much work, consider investing in a floating-rate fund -- also called a bank-loan fund -- which holds a variety of bonds or bank loans with adjustable rates, giving you exposure to a range of credits. "In fixed income, you have to be realistic about how closely you're willing to watch" credit quality, Panaccione says. "If you're not willing to review things on a regular basis, don't buy individual bonds."
Unlike individual bonds, floating-rate funds have no maturity date, so you can lose principal if market fluctuations cause fixed-income investments to drop in value. "I don't like bond funds because they don't guarantee my principal," Rodgers says, while conceding that they can be a good choice in some cases. "For the individual investor who's not using an adviser, they should be using a bond fund."
Focus on the total return of your portfolio, rather than the rise or fall in a particular fund, says Anthony Valeri, CFA, a senior vice president and market strategist at LPL Financial in San Diego. Liquidity is an issue, since these bonds don't trade on an exchange. "If we have a recessionyou'll see price declines" in floating-rate funds, Valeri says.
Annuity
The classic strategy for ensuring a stream of income in retirement, of course, is purchasing an immediate annuity. This insurance product guarantees that you will receive a stream of payments for as long as you live.
The downside: You pay a premium for that guarantee and lose control of your assets forever.
"I've done annuities this year only because of clients demanding them," Panaccione says. The insurance companies are "probably investing in what you would've invested in and charging you a premium. Is that what you need to sleep at night? Then it's probably worth paying the premium."
If you're married, the question of an annuity becomes more complicated. You can buy a joint life and survivor annuity for a smaller payout, or opt for provisions that guarantee some portion of your payment goes to your spouse if you die. But it will cost you, Mayabb says.
By choosing an annuity, you lose the flexibility of changing your mind. "Once you annuitize, those assets are no longer yours," she says. "With a bond ladder, CD ladder or investment account, if something happens and you need $20,000, you go sell something."
More from Bankrate.com:
• 7 Investment Strategies That Defy Downturn
• U.S. Credit Rating slide: What It Means
• Fear of Losing Money Can Set Investors Back
If you withdraw regular amounts from your portfolio to cover your living expenses during a market downdraft, you must sell more shares at a lower price. It's essentially the reverse of dollar-cost averaging, which is what you did during the accumulation phase when you invested money at regular intervals. Dollar-cost averaging involves buying more shares when the market is down or fewer shares when it's up.
"You're liquidating a portion of the portfolio and locking in those negative returns and creating some very bad outcomes," says Stephen Horan, head of private wealth management for the CFA Institute and co-author of "The New Wealth Management."
"We call that sequence-of-return risk," he says.
In such a scenario, it's best to leave stocks alone to recover from the loss and to draw instead on the fixed-income portion of your portfolio. Retirement experts recommend employing one of the top five fixed-income strategies to ensure enough income in a bear market. Following are the pros and cons of each method.
CD ladder
A solid fixed-income strategy begins with calculating your bare-bones expenses and looking at what you will receive from Social Security and any defined-benefit pension. Next, choose a vehicle to ensure enough income each year to make up the difference.
One simple option is to design a CD ladder, such as a combination of one-, three- and five-year CDs, the principal amounts of which will cover your income needs in case stocks fall, says Rick Rodgers, a Certified Financial Planner in Lancaster, Pa. If the stock market is up, you can reinvest funds from the maturing CDs in higher-rate CDs rather than spending the principal.
"You're never going to make money in fixed income; that's not the purpose of it. After taxes and inflation, it's break-even at best," Rodgers says. This is particularly true in these times of low yields.
"When the market is going up, I am going to be overweighted in stocks so I will be selling some stocks and putting it into fixed income," says Rodgers. "It smooths out the ups and downs."
The downside of a CD ladder: low yields, no upside as the market fluctuates and continual effort to reinvest maturing CDs, says Lynn Mayabb, CFP, a senior managing adviser at BKD Wealth Advisors in the Kansas City, Mo., office.
Don't let CD penalties prevent you from withdrawing your cash early, though. Weigh the penalty against the potential gain or need, Mayabb says.
Bond ladder
If you're looking for a little higher yield, consider creating a ladder of bonds with sequential maturities. "Having that money come due on a regular basis eliminates the need to have a lot of money sitting in cash," Rodgers says.
The two key risks to investing in bonds are interest rates rising and credit quality declining. "We address both of those issues by laddering it. Each one of those bonds that makes up the bond ladder is different," he says.
It's a good idea to stick with highly rated bonds and stable companies, and be sure to monitor your picks for any decline in quality.
One danger of a bond ladder is that you can inadvertently shift the asset allocation of your portfolio if you don't manage carefully, Horan says. As the front of the ladder matures, the makeup of your investments shifts. On the plus side, you've guaranteed enough income for the critical first years of retirement, which "set the initial path" for your retirement portfolio, he says.
For an individual investor, a properly diversified bond ladder is likely to be too much work, says Carlo Panaccione, CFP and founder of the Navigation Group in Redwood City, Calif. A good financial planner can set this up for you, but you generally need a minimum of $100,000 to construct a properly diversified bond ladder.
Variants on bond ladders
"Sometimes a bond ladder doesn't always make sense, depending on what the yield curve looks like," Mayabb says. Often, the middle-term maturities tie up your cash longer but fail to reward you with higher rates.
Instead, she favors a barbell approach, in which you divide your money equally between short-term bonds and those with 10- to 15-year maturities, skipping intermediate-term bonds altogether. "Those are the sweeter spots for getting the rates."
Or consider laddering the coupon payments on a bond, rather than the bonds themselves, Horan says. For instance, if you need $50,000 each year, you could buy a five-year bond with a 5 percent coupon and $1 million face value. At the end of the five years, you'd get $1 million back.
It may be more efficient to find a single bond with the desired payment structure, rather than piecing together five different bonds in a laddered structure, he says.
As with a traditional bond ladder, these variants may also suffer from a lack of diversification and need to be monitored for credit quality, says Panaccione.
Floating-rate fund
If all this seems like too much work, consider investing in a floating-rate fund -- also called a bank-loan fund -- which holds a variety of bonds or bank loans with adjustable rates, giving you exposure to a range of credits. "In fixed income, you have to be realistic about how closely you're willing to watch" credit quality, Panaccione says. "If you're not willing to review things on a regular basis, don't buy individual bonds."
Unlike individual bonds, floating-rate funds have no maturity date, so you can lose principal if market fluctuations cause fixed-income investments to drop in value. "I don't like bond funds because they don't guarantee my principal," Rodgers says, while conceding that they can be a good choice in some cases. "For the individual investor who's not using an adviser, they should be using a bond fund."
Focus on the total return of your portfolio, rather than the rise or fall in a particular fund, says Anthony Valeri, CFA, a senior vice president and market strategist at LPL Financial in San Diego. Liquidity is an issue, since these bonds don't trade on an exchange. "If we have a recessionyou'll see price declines" in floating-rate funds, Valeri says.
Annuity
The classic strategy for ensuring a stream of income in retirement, of course, is purchasing an immediate annuity. This insurance product guarantees that you will receive a stream of payments for as long as you live.
The downside: You pay a premium for that guarantee and lose control of your assets forever.
"I've done annuities this year only because of clients demanding them," Panaccione says. The insurance companies are "probably investing in what you would've invested in and charging you a premium. Is that what you need to sleep at night? Then it's probably worth paying the premium."
If you're married, the question of an annuity becomes more complicated. You can buy a joint life and survivor annuity for a smaller payout, or opt for provisions that guarantee some portion of your payment goes to your spouse if you die. But it will cost you, Mayabb says.
By choosing an annuity, you lose the flexibility of changing your mind. "Once you annuitize, those assets are no longer yours," she says. "With a bond ladder, CD ladder or investment account, if something happens and you need $20,000, you go sell something."
Wednesday, August 10, 2011
How to select trades ?
Successful trading is all about managing trades once you are in them, regardless of where they came from. I think a great trader could probably turn a profit taking random trades, as long as he manages them well. Now I do believe that finding quality chart patterns is essential, mostly because trading good setups in liquid stocks allows for the best risk/reward relationship on the front end. That is why I run my swing trading website – to highlight the best charts in the market for potential trades. My trade selection process is based on my ability to manage those trades, therefore I want to find only the best. Why not predetermine your stop in case you are wrong by taking the trades with a natural stop-loss nearby?
Having said that, let me touch on the last comment regarding stops. One of the first things I want to know before I take a trade is how much I am likely to lose in case I am wrong (and I will definitely be wrong some of the time). This helps me to determine two things: position sizing and profit expectation. If I am willing to lose $1000.00 on a trade and the natural stop is 1 point away, then a position size of 1000 shares will be obvious. Furthermore, if I want to keep my reward-to-risk relationship at 3 or 4 to 1, then I would look to pull at least 3 times my potential loss out of the trade on the profit side. This would be a 3 point profit for this example.
Now, how do I go about finding those trades? Each night I begin with all the stocks in the market and run some basic scans on them which filter out the low-dollar stocks and the low-volume stocks using TCNet, my charting software. Once I have the remaining list, which is typically about 1600 stocks, I sort that list by their close relative to that day’s range. This simply means the stocks at the top of the list finished the day near their highs, and the stocks at the bottom of the list finished near their lows. Sorting by this helps me to first find my likely long candidates and then move on to the short candidates, as I typically like continuation plays. Once the list is sorted, I use the spacebar to screen each stock in pretty rapid succession. Going through the list takes me about an hour. Simply scrolling through so many stocks each night also helps keep tabs on the overall market health.
As I move through the list, I keep a finger on the “F” key and “flag” the stocks which are good enough for a closer look. After screening the big list, I am left with about 50 flagged stocks which I look closer at to determine my trade candidates which will be in the swing trading newsletter. It is at this point that I separate the good from the great. I want stocks which are able to move. A stock like MSFT which sees daily changes of only a few cents is just not a candidate. I want potential for a good, quick profit. I also want to find tight setups where my stop is nearby. A wide, sloppy chart will add slippage and make it more difficult to know when to exit. This is why I often overlook momentum stocks which have already broken out. Why make trading any more difficult than it already is?
Volume is the next thing I will really key in on, as it is the best true measure of activity and just what the “big boys” are doing. Does volume support the overall look of the chart? Has there been more activity lately than normal which may indicate a move is about to occur? If so, then that stock makes my list.
When looking for shorts, I want to see lower highs, downside volume and relative weakness to either the market or that particular stock’s sector. This indicates to me that pressure remains on the stock and the path of least resistance is still down. Any stock that is unable to participate in market strength gets my attention quickly.
The next morning, I set alerts in my CyberTrader Pro trading platform which will trigger when the stocks from the newsletter meet their breakout prices. Most of the time, I set these alerts to actually get me into the trades automatically for at least a partial position. I also set up my watch lists in Trade-Ideas Pro, which helps me to gauge momentum and relative volume. Their product is excellent, and is an essential part of my trading.
As the day progresses, I keep a close eye on market activity (or inactivity it has seemed to be lately). If buying is strong and the futures are holding up well, I will add to longs in expectation of strength (vice versa for shorts). If the futures are flat and choppy, then I cut way back on my activity and grab a good trading book. Watching the market action with this in mind helps me select which trades are worth adding to and which are not.
From there, it is all a matter of execution and sticking with a good, disciplined trading plan. Cutting losers and keeping winning trades on my screen is the only remaining part of my job once I have found the trades, which is also the most important part!
Having said that, let me touch on the last comment regarding stops. One of the first things I want to know before I take a trade is how much I am likely to lose in case I am wrong (and I will definitely be wrong some of the time). This helps me to determine two things: position sizing and profit expectation. If I am willing to lose $1000.00 on a trade and the natural stop is 1 point away, then a position size of 1000 shares will be obvious. Furthermore, if I want to keep my reward-to-risk relationship at 3 or 4 to 1, then I would look to pull at least 3 times my potential loss out of the trade on the profit side. This would be a 3 point profit for this example.
Now, how do I go about finding those trades? Each night I begin with all the stocks in the market and run some basic scans on them which filter out the low-dollar stocks and the low-volume stocks using TCNet, my charting software. Once I have the remaining list, which is typically about 1600 stocks, I sort that list by their close relative to that day’s range. This simply means the stocks at the top of the list finished the day near their highs, and the stocks at the bottom of the list finished near their lows. Sorting by this helps me to first find my likely long candidates and then move on to the short candidates, as I typically like continuation plays. Once the list is sorted, I use the spacebar to screen each stock in pretty rapid succession. Going through the list takes me about an hour. Simply scrolling through so many stocks each night also helps keep tabs on the overall market health.
As I move through the list, I keep a finger on the “F” key and “flag” the stocks which are good enough for a closer look. After screening the big list, I am left with about 50 flagged stocks which I look closer at to determine my trade candidates which will be in the swing trading newsletter. It is at this point that I separate the good from the great. I want stocks which are able to move. A stock like MSFT which sees daily changes of only a few cents is just not a candidate. I want potential for a good, quick profit. I also want to find tight setups where my stop is nearby. A wide, sloppy chart will add slippage and make it more difficult to know when to exit. This is why I often overlook momentum stocks which have already broken out. Why make trading any more difficult than it already is?
Volume is the next thing I will really key in on, as it is the best true measure of activity and just what the “big boys” are doing. Does volume support the overall look of the chart? Has there been more activity lately than normal which may indicate a move is about to occur? If so, then that stock makes my list.
When looking for shorts, I want to see lower highs, downside volume and relative weakness to either the market or that particular stock’s sector. This indicates to me that pressure remains on the stock and the path of least resistance is still down. Any stock that is unable to participate in market strength gets my attention quickly.
The next morning, I set alerts in my CyberTrader Pro trading platform which will trigger when the stocks from the newsletter meet their breakout prices. Most of the time, I set these alerts to actually get me into the trades automatically for at least a partial position. I also set up my watch lists in Trade-Ideas Pro, which helps me to gauge momentum and relative volume. Their product is excellent, and is an essential part of my trading.
As the day progresses, I keep a close eye on market activity (or inactivity it has seemed to be lately). If buying is strong and the futures are holding up well, I will add to longs in expectation of strength (vice versa for shorts). If the futures are flat and choppy, then I cut way back on my activity and grab a good trading book. Watching the market action with this in mind helps me select which trades are worth adding to and which are not.
From there, it is all a matter of execution and sticking with a good, disciplined trading plan. Cutting losers and keeping winning trades on my screen is the only remaining part of my job once I have found the trades, which is also the most important part!
Tuesday, August 9, 2011
Recovery of Indian markets sign of strong fundamentals, says Mukherjee
Indian equities markets, which stemmed losses Tuesday, were a sign of the economy's strong fundamentals, Finance Minister Pranab Mukherjee said Tuesday.
'I would like to emphasis that some of the investment banks have upgraded India to market weight, that means the basic fundamentals are strong and macroeconomic recovery is moving in a positive direction,' Mukherjee said referring to a report released Monday by investment banking firm Goldman Sachs.
The 30-scrip benchmark of the Bombay Stock Exchange, Sensex, which fell over 550 points in early trade Tuesday, almost recovered its losses in the afternoon before closing with a 132.27 points or 0.78 percent loss at 16,857.91 points.
The minister said the Indian markets managing to pare its early losses signified the resilience of the Indian economy.
In comparison, Asian markets closed deep in the red.
The benchmark Japanese Nikkei closed 1.68 percent down at 8,944.48 points, while the Chinese Shanghai Composite index too closed flat at 2,526.07 points.
Hong Kong's Hang Seng fell a huge 5.66 percent lower at 19,330.7 points.
'I would like to emphasis that some of the investment banks have upgraded India to market weight, that means the basic fundamentals are strong and macroeconomic recovery is moving in a positive direction,' Mukherjee said referring to a report released Monday by investment banking firm Goldman Sachs.
The 30-scrip benchmark of the Bombay Stock Exchange, Sensex, which fell over 550 points in early trade Tuesday, almost recovered its losses in the afternoon before closing with a 132.27 points or 0.78 percent loss at 16,857.91 points.
The minister said the Indian markets managing to pare its early losses signified the resilience of the Indian economy.
In comparison, Asian markets closed deep in the red.
The benchmark Japanese Nikkei closed 1.68 percent down at 8,944.48 points, while the Chinese Shanghai Composite index too closed flat at 2,526.07 points.
Hong Kong's Hang Seng fell a huge 5.66 percent lower at 19,330.7 points.
Monday, August 8, 2011
Goldman Sachs upgrades India to market weight
Goldman Sachs on Monday upgraded India to "market weight" from "underweight," given a likely turn in the macro cycle, lower oil prices, lower valuation, and policy reform.
"The latest move by the RBI to raise the repo rate by 50 basis points was a clear sign in our view that the central bank is vigilant in bringing down inflation expectations," Goldman said in a note.
Despite the near-term weakness, policy tightening was a necessary step to reigning in inflation expectations and will ultimately serve as a net positive for the Indian equity market on a medium to longer term horizon, it added.
The Reserve Bank India (RBI), which has raised rates 11 times since mid-March 2010, is expected to be nearing the end of its tightening cycle.
"The latest move by the RBI to raise the repo rate by 50 basis points was a clear sign in our view that the central bank is vigilant in bringing down inflation expectations," Goldman said in a note.
Despite the near-term weakness, policy tightening was a necessary step to reigning in inflation expectations and will ultimately serve as a net positive for the Indian equity market on a medium to longer term horizon, it added.
The Reserve Bank India (RBI), which has raised rates 11 times since mid-March 2010, is expected to be nearing the end of its tightening cycle.
Saturday, August 6, 2011
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1 TARGET AND 1 STOPLOSS IS PROVIDED (NO PART PROFIT BOOKING SYSTEM)
1 TIME ENTRY AND 1 TIME TOTAL EXIT CALLS ARE PROVIDED
WE DON’T RECOMMEND CAPITAL REQUIRED,BUT YOU SHOULD INVEST SUCH AMOUNT THAT CAN BE EASILY EXITTED.
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CALL FORMAT EXAMPLE - BUY SCRIPNAME AT 100 TARGET 110 SL 98
IN CASE OF THE PACKAGE WHERE 2 CALLS ARE PROVIDED BOTH CALL MAY REMAIN OPEN AT A SINGLE POINT OF TIME.
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PREMIUM SMS SERVICE THAT IS GURANTEE OF INTIME DELIVERY OF EVERY TIPS. (WITHIN 6 SECONDS)
ALL TIPS ARE PROVIDED DURING LIVE MARKET HOURS.
PROPER ENTRY EXIT STOPLOSS MESSAGES ARE PROVIDED TILL OPEN POSITIONS.
MORE THAN 90 % ASSURED ACCURACY.
1 TARGET AND 1 STOPLOSS IS PROVIDED (NO PART PROFIT BOOKING SYSTEM)
1 TIME ENTRY AND 1 TIME TOTAL EXIT CALLS ARE PROVIDED
WE DON’T RECOMMEND CAPITAL REQUIRED,BUT YOU SHOULD INVEST SUCH AMOUNT THAT CAN BE EASILY EXITTED.
WE DON’T RECOMMEND OVERTRADING
CALL FORMAT EXAMPLE - BUY SCRIPNAME AT 100 TARGET 110 SL 98
IN CASE OF THE PACKAGE WHERE 2 CALLS ARE PROVIDED BOTH CALL MAY REMAIN OPEN AT A SINGLE POINT OF TIME.
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