10 things to know this week – Sep 23, 2016

Here are the ten interesting things to know this week, ended Sep 23, 2016.

India:
1) There is greater value for the patient investor: Prashant Jain, HDFC MF
Prashant Jain says we are moving in the right direction but are a long way off from where we can say that Indians have begun to allocate a reasonable part of their savings to equities. Read more: [Economic Times]

2) Long-term investors will continue to favour India: Kunal Kapoor, Morningstar
Kunal Kapoor, CEO, Morningstar, says Franklin Prima Fund. The HDFC 200 comes to mind, Birla Front Line those are some of the funds that analysts like and use to invest in India for the long haul. Read more: [Economic Times]

3) Tyre stocks up on fall in rubber prices
The sharp fall in rubber price can be attributed to sudden jump in its production. Read more: [Business Standard]

4) Hold consumption related stocks for the long-term
Hope of a favourable monsoon and the excess cash in the hands of government employees on the back of 7th Pay Commission to aid consumption. Read more: [Business Standard]

5) The art of discovering today’s multibaggers day before yesterday
The sharp rally in mid and small-cap shares in the last three years has given fund managers the opportunity to pick winners that helped boost performance of their schemes. Read more: [Economic Times]

6) Jubilant FoodWorks CEO Ajay Kaul resigns, does that mean investors should also quit?
Ajay Kaul resigned after 11 years at the helm of the India franchise of Domino’s Pizza. Kaul has stepped down to pursue opportunities outside the Jubilant Group. Read more: [Economic Times]

Global:
7) America’s $38 trillion global trade deal you’ve never heard of
The U.S. is negotiating a trade deal that’s worth $38.5 trillion and spans 50 countries — and most people have never heard about it. Read more: [CNN Money]

8) Russia is seriously running out of cash
After almost two years in recession, the country’s rainy day fund has shrunk to just $32.2 billion from $91.7 billion in Sep 2014, just before oil prices started to collapse. Read more: [CNN Money]

9) China’s toxic debt pile may be 10 times official estimates
Toxic loans in the Chinese financial system could be 10 times as high as official estimates suggest, Fitch Ratings has warned. Read more: [CNBC]

10) Goldman Sachs cutting nearly 30% of Asia investment banking jobs
Goldman Sachs is cutting almost 30 percent of its 300 investment banking jobs in Asia outside Japan in response to a slowdown in activity in the region, two sources familiar with the matter told Reuters. Read more: [CNBC]

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