Satyam Scam

[paperslut]

'Raju admits fraud'
'SEBI horrified'
'Satyam crashes'
'Sabu angry'
'Jupiter volcano explodes'

It's a bloodbath out there folks. And all because of one company.

What's worse than a recession?
A recession with a stock market scam.

And said stock market scam is all the action from the house of Satyam.

If you're invested in the markets right now, you're probably crying. And if you're not, your parents probably are. What's your humble opinion?

Do you care? Is your friend working in Satyam fearful of his job? Let us know ClubJAMmers!

[Satish S]

The markets were so poised to go to the next higher support level, but everything is now gone thanks to one Mr. Raju.

Thankfully, no one in the family holds Satyam and we never have. Concentrate on value investing, people. Look where it took Mr. Warren Buffett.
I am not saying it helped me. Even I lost 8pc of my portfolio today. But it could have been worse.

[Rashmi Bansal]

What abt junta working for Satyam and those with offer letters? As it is jobs are scarce on engineering college campuses this year!

[Illusionist]

He he he he... sad dude.. that you lost 8 pc..
Dude.. stop loss... did you forget it???
I bought d share at 157, and... but was shifting it every passing day.. I had put it for 165 the day it went down..
And.. it did!!! At d first.. i did not realize it all till d stick went to 85 levels.. but then, i had exited at 165.. so, i surprisingly got on a profit d day...

Ok.. now.. on an ethical POV...
For investors.. Sorry brothers for d cold shoulder but... you incorporate these risks when you invest in the market.. You cannot cry foul here.. cuz, you are in no way enhancing the position or d leverage of the company.. You are just buoying on its success.. which is I suppose.. is kinda a mark of hypocrisy.. but.. d world is following it.. so, better not sob dude...
One line.. You should had studied d balance sheet before investing...
Did I read Warren Buffet here???

For its employees...
Yeah... Sad.. My condolences wid you guys..
You are not at fault at all.. you guys study, cram your way/life into d marks-card.. just to be eligible for the coveted GD, PI.. and when you get d offer letter.. you guys party like anything.. then, you park your future on the Co's credits and live on your life...
Its then the Co's responsibility to look after you.. cuz.. I believe.. money can NEVER measure life/time spent for something that you put your heart into... and you guys do put in more that your heart which makes the Co grow in diameter... inches by inches...
And.. your boss screwed it all.. BIG TIME...
(Actually... the guy made it for you.. As I see it... Ram did not benefit from d fiasco... things just went wrong.. While in loss.. he posted profit so that his company remains attractive.. not just for investors but for future employees and future prestige... which.. sadly went on building on to a huge bubble cuz.. he worked around projects with a profit margin of an unbelievable 3%.. I mean.. who works on such a small margin...)
And when he did take the blame on him.. he did.. and how...
Hats off dude...
It takes friggin awesome courage to maintain that goodwill ethic and accept that things went wrong.. and own up on it..
Hats off...
Sorry employees.. bad timing.. thats all I can say... I had seen it coming.. actually.. I had thought it will happen when the mirror-reflection-lettered company talks failed..

Every company cooks up its balance sheets to seem attractive...
EVERY FRIGGIN COMPANY ON THIS PLANET does it.. WITHOUT EXCEPTIONS...
This one.. just got it all wrong...

[Satish S]

How could he have not made money on it?
If he projected profits, he obviously gave dividend on it.
He, his son and wife hold around 10%. So he made 730 crores!

[Illusionist]

Dont you think.. that a guy like RAM would know that he would be caught in d books whenever he would be exposed?
His actions.. acc me... were morally right.. legally wrong...
And.. sadly.. morals are lost almost everywhere in ma country.

[Satish S]

It was a simple case of not wanting to accept how small you were. If he wanted to scale his business up, why did he take the easy way out? Why did he not put his brain in the right direction?
His actions were just wrong, morally and legally.

And he knew his game would be up soon. Precisely why he doesn't have a TV in his bedroom. He's that damn afraid of media reports and speculation.

[Illusionist]

And.. btw... If he was afraid... would he come out and accept the dirt???

[Satish S]

He accepted his follies only when he ran out of money to pay the employees.
And water from the Himalayas is bottled somewhere very close and distributed all over India. As is Bisleri which is purified, packaged and distributed all over India. Same difference.
And in a firm there will always be struggles. But for fucks sake, you cannot lie to your investors. You cannot lie to the people who see value in you and who believe in your work.
I seriously do not understand what you are ranting on about.

[S.KANAPPAN]

By tomorrow few hundred shares of satcom for Rs.10 which would fetch some money soon. This is just taking risk and you may be aware that whoever takes risk would make money or at least may come in the media.

[paperslut]

Check out JAM's spanking new cover story (on stands this week) about the lighter side of the Satyam Scam - with parodies, cartoons, poems and, er, more parodies.

PS. I don't understand why nobody's taking note of my Sabu joke. :(

[mihirjesani]

its a classic case of wanting too much too soon.
everybody does it and never gets caught.
raju got himself caught intentionally as he wanted to take satyam down with himself.

[Anshul Tanna]

the best thing 2 do is not 2 invest in these markets....when ya know ur gonna fall in a deep ditch of loss in the end(which is obvious)the thing as pointed out in the cartoon is just a virtual game of greed and gambling!!!