So this week was a bit crazy.
Right… Where do we start?
Reliance Bonanza 🌟
So on Monday, Mukesh Ambani broke the internet once again.
Reliance held its AGM (read as Annual General Meeting) and it did not disappoint one bit. We are talking about fibres, Internet of things, connecting Kirana stores, the whole lot. The AGM was honestly the stuff of gold and rest assured, we unpacked most of it.
You can check out more details right here.
Soon after, we had more bad news coming in from the auto sector 😔
The passenger vehicle segment recorded one of the worst ever seasons. We are talking about major league slowdown here folks and it’s really getting scary now.
Also, in tow, we had the Argentine crisis. Macri, the market favourite lost out to Alberto Fernandez, the people’s favourite in the primary elections (read as an election before the election) and investors did not take kindly to any of this nonsense.
As expected markets crashed in Argentina and tremors reached Indian shores pretty quickly.
If you're looking for a refresher course on both the auto slowdown and the Argentine crisis we've got you covered.
And then it was Independence Day 🇮🇳
We hope you enjoyed the public holiday but also took some time out to remember our heroes! That includes all the people that fought for this country; first for Independence, later, so that it stays together 🙏
Finally, we had the story that baffled the world
A Danish bank offering 10 year home loans at negative interest rates and people were going “WTF?
This story obviously created a lot of hype. I mean who in their right mind pays to borrow. Right?
Anyways we wanted to look beyond the numbers and try to find out what’s really driving this crazy distortion.
Turns out that a long time ago, influential central bankers figured it was a good idea to supply the world with cheap money i.e. offer businesses the opportunity to borrow at ridiculously low-interest rates and now they have no idea how to undo the mess without breaking the financial ecosystem.
Anyway you can read about this and some other spooky financial things in Friday's story “The World has lost It”
Right then, that's the wrap up and do spread the word folks. Would mean a lot if you can get more people to read this stuff.
Cheers… Until Monday then.