Warren Buffett called airlines a cursed sector. Kingfisher, Jet Airways, and Go Air in India, and many other airlines worldwide, have gone out of business. Even Indigo, India's most successful airline so far, suffered losses in four out of the last eight years. Why are airlines such a complicated business? 

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A Kolkata-based group of brokers, often called the bear cartel, was shorting Reliance stock. As the stock was getting hammered, Mr. Dhirubhai Ambani apparently sought help from a group of NRIs to steady the stock price. The tale is dramatic and typical of the time when it happened.

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Hong Kong's central bank does not print its currency. Instead, three private banks are entrusted to print Hong Kong Dollars. This arrangement is as good as handing over the monetary policy to private players. It seems strange, but there is a British-era reason behind it. And guess what? Currency pegging has also worked well in this arrangement!

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The Harshad Mehta scam of 1992 exposed massive loopholes in India’s banking and stock market systems, leading to a series of crucial financial reforms. Faster adoption of digital banking and dematerialized shares, stricter regulatory oversight, and modernized stock exchanges were all outcomes of the reforms meant to prevent such frauds in the future.

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A SEBI rule in 2019 mandated mutual funds to change how they benchmarked their performance to an index. An understanding of price return (PR) and total return (TR) indices explains how the reported outperformance of mutual funds vanished.

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Disclaimer: The stocks or financial instruments discussed in this podcast are meant for educational purposes only. Please do not consider them recommendations or financial advice of any form.