Ambanis’ fight,Lehman collapse,Mumbai terror strikes,Satyam-like corporate governance fiasco,sky-rocketing inflation,massive layoffs,ballooning interest rates,acute credit crunch and pitfalls of coalition Government — having seen all these unfold during 2008,investors do not want any repeat this year.
Even if some of these cannot be wished away,market experts believe that investors would certainly feel relieved not to see again these and many other dreadful events that made 2008 certainly a bad year.
While a reunion between warring Ambani brothers Mukesh and Anil tops the wish list of lakhs of investors,who had to suffer heavily in 2008 because of the fight on issues ranging from MTN controversy to gas dispute,there are many other events they want to forget as a bad dream.
The events include high inflation,surging crude oil prices,corporate governance issues emerging from Satyam’s aborted bid to acquire two firms promoted by its chairman’s family,Mumbai terror strikes and subsequent political tension with Pakistan,Singur controversy,ballooning interest rates that made credit a scarce commodity and huge cost-cutting exercises adopted by the companies.
Besides,there are the global happenings such as worldwide credit crisis,fall of Lehman Brothers and many other global giants,crash in the market,need of bailout packages from the governments,over-dependence on ‘hot money’ or excess-leveraging for loans,and also a Madoff-like scam,which made 2008 an unforgettable year.
“If God is going to ask for a single wish,I think everybody across the world,irrespective of the caste,creed and culture,would wish that 2008 is not to be repeated in their lifespan,” Taurus Mutual Fund Managing Director R K Gupta said.