Minutes of Meeting – MEET 3
Fortnight Theme: Stock Markets and Scams
Date: 22 Sep 2011
Venue: LR 3, DoMS, IIT Roorkee
3rd meet of ‘VITTARTH’ in the fortnight and it was very well hit a HATRICK.
1. Video session on-flow of money in US markets
2. Presentation by Ambika Garg; topic- Derivatives
3. Financial quiz conducted by the Vittarth Team
It was a fun filled & learning instilled evening session by Vittarth
Aprox turnout 45-50.overwhelming response.
The video illustrated that due to the basic existence of the Federal Reserve’s money in US economy is nothing but Debts.
The Money in US economy actually doesn’t exist. It pops up suddenly from nowhere giving a wrong conception as to how much liquidity exists in to the market actually.
Then Ambika presented her views on Derivatives in Stock Markets & it was greeted well by the audience
"Kuch meetha ho jaye" was the quotation of the day as loads of chocolates were distributed to the Q&A that were being popped up every now and then. Quiz results are to be declared soon with the cash prize waiting.
Minutes of Meeting – MEET 2
By Manav Kaushik
Theme: Stock Market and Scams
The Session started with a video on ‘Intelligent Frauds’ (by Ambika Garg) which discussed in brief about the most outrageous scams in Indian Stock Market. Scams are an integral part of any stock market and provide a fast way to earn money. The Scams discussed were the ones which left the whole country in a state of shock.
The video included brief details regarding the frauds done by Harshad Mehta, Ramalinga Raju and Lalit Modi.
Harshad Mehta(The Big Bull): He found a flaw in stock market and cashed upon it. He created an artificial share market by excessive buying and earned huge profits.
Ramalinga raju: Started Satyam Computers and took it to top 5 software companies in India. To retain the projects and clients he showed false quarterly profits.
Lalit Modi: He used his complete authority and power and earned loads in IPL bidding and administration. He was speculated to be involved in bidding, betting and telecast rights scams as well.
After the video presentation came a PowerPoint presentation from Nikhil Shrivastava. The motive of the presentation was to answer why trade in stocks and how to earn profits even when market is not doing well.
The presentation was well prepared and it clearly pointed out the difference between Investing and trading also the two methods (i.e. Fundamental and Technical) which are used to ascertain a company’s future prospect were explained in detail.
The audience were encouraged to get a first hand experience by opening a virtual trading account at moneybhai.com and play the online stock games.
Presentation was pretty exhaustive and it included introduction to some of the common terminology that is used in share market like Synchronization, arbitrage, ideal time and short –selling.
First Fortnight : Day 1
By Akhil Kr. Rungta & Sachin Kabra
So, the much awaited fortnight session of Vittarth ( the finance club of DOMS,IITR) begins and that too with a bang.With its theme of "Understanding stock markets & Scams" the team met for the first gathering on the 16th of Sept. Post-lunch session started with an appropriate video presentation demonstrating the financial system, i.e. basic money flow in a stock market throwing light on the fact that "Money Never Sleeps".It was followed up by a very interactive session taken by Ms. Ritika Mahajan (Research scholar under Prof V.K.Nangia).
While explaining about the stock market scenario she emphasized on the importance of "Wealth Creation & not Income Generation". It was an interactive session with a lot of queries put forward by the 35 odd students that were present there.Overall, a good learning experience and a nice beginning to a fortnight that promises loads of learning oppurtunities.It was just a trailor of what the film promises to deliver.
Videos Screened :
1. How Stock Market Works
2. "Greed is good" one min from an epic movie WALLSTREET (1987)
3. Wall street (2001) Douglas speech.
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