This refers to your cover story Bear With Us, For What They Tell You Is Bull (April 5) about this century’s wealth creators in the stock market. Busting myths about the mysterious world of equity shares, it reveals that the path to riches is random and almost fantastical. The list of top 25 stocks that registered phenomenal growth in the past 20 years doesn’t include the ones we would expect to be there—those like Reliance Industries, ICICI Bank, Infosys and Bharti Airtel. How incredible the growth of the 25 toppers was in 20 years can be imagined by the market capitalisation of the top two between January 2000 and January 2021—IOL Chemicals & Pharmaceuticals and Bajaj Finance. “A successful stock-picking strategy is like a random and drunken walk in the investment wilderness.” Truer words on the subject have seldom been spoken. The stock market looks like a goldmine to investors, but most of them end up burning their fingers.
M.C. Joshi, Lucknow
When bulls get the upper hand in their match with bears and the fortunes of investors in the capital market swing fast, one has to weather the storm. The wise either take it lying down and offload their weak holdings or prefer to gamble by making more stakes during the bullish market—or simply wait and watch with patience for optimum opportunities. Statistics was always suspect as it can prove or disprove anything. Times have changed and now mathematics too is no more an exact science. New definitions of loss and profit are coined. All that matters are the calculations and subjective perceptions of stock-exchange players about the net worth of the stocks available in the market. Here, two plus two do not always make four—it could make three or five as per perceptions of government policies. Many manmade and accidental events like wars and natural calamities cause unimaginable howling at the stock exchange.
M.N. Bhartiya, Alto-Porvorim (Goa)
This refers to Bill It to the L-G Please (April 5). The passage of the Delhi Bill by both Houses of Parliament undermines the mandate given by voters in Delhi to the AAP government. In essence, this legislation shifts the balance of power away from the elected state government and towards the Lieutenant Governor appointed by the government at the Centre. This is at odds with the Supreme Court ruling on the matter and makes a legal challenge quite inevitable. This legislation is very harmful from the standpoint of cooperative federalism. It will adversely affect cooperation between the Centre and opposition-ruled states. The debate in Parliament showed that many opposition parties interpreted the bill as an attempt to undermine the state legislatures.
L.J. Singh, On E-Mail
This refers to your cover story Ayurveda in the Time of Corona (March 29), which raised some valid points on the pros and cons of Ayurveda. The traditional medicines developed more than 2,000 years ago still cater to the health needs of millions of Indians. It was because of our willingness to change and our openness to scientific inquiry, research and development that modern medicines are flourishing today. They are preferred over Ayurvedic medicines due to the paucity of research over the years in traditional pharmacology and the apathy of successive governments. We must not lose sight of the fact that western medicines are primarily concerned with curing the disease, while traditional medicines tend to strike at the root of the disease, thereby healing the body, mind and soul of an individual, with little or no side effects. China provides a good example of harnessing traditional forms of medicine. Also, the entire world is now realising the importance of yoga in promoting well-being. During the ongoing Covid- induced crisis, yoga exercises can address common problems of anxiety, stress and depression, besides boosting general immunity. Indian systems of medicine must complement each other and their experts should work towards improving themselves rather than making tall claims without evidence. Cross-learning and collaboration between the eastern and western medical systems, and integrating Ayurveda into the mainstream, require research and concerted efforts to make traditional medicines serve as an essential part of healthcare.
Vijay Singh Adhikari, Nainital
It’s been over a year and COVID-19 continues to hold the world to ransom. Allopathy, which has doused similar calamities in the past successfully on many occasions, has failed to provide credible treatment options. Though vaccines have emerged, they are shrouded in the grey zone. In India, Ayurveda has been on the forefront in claiming to enhance immunity to fight the viral disease. But Ayurveda for Covid is more fad than fact.
George Jacob, Kochi
This refers to the interview with former Mumbai police commissioner Julio Ribeiro (‘Police are now dictated by political bosses’) in your cover story on Delhi Police (Close Encounter, March 8). The interview gives the inside story of the police citadel. It is a fact that the policing system in India is more or less trapped in a vicious circle dominated by politicians and bureaucrats. The police obey their political masters because of their own interest. This is not good in a democratic country like India. The charges against the Delhi Police are correct because nothing has been done against the real instigators of the riots that shook the capital in February 2020. This is unfair. How will people believe the police if they behave in this way?
Ashok, Patna
This refers to Star-Spangled Banner (April 12), your story on the “talented and fearless cricketers” who have “put India on course for world dominance”. The way India won against Australia in the Test series and then against England in the home series in all three formats is a clear testimony that our bench strength is second to none in the world. New players emerged one after another and proved their mettle against the best in the world. In Australia, due to a series of injuries, we were literally struggling to put together 11 players during the last Test match, but players like Washington Sundar, Shardul Thakur, T. Natarajan and Mohammed Siraj performed seamlessly and ensured we won the series. Against England, it was Axar Patel’s turn to do what his other younger teammates have done down under. And the way Ishan Kishan and Surya Kumar Yadav performed in the white ball format, it did not look like they were debuting in those matches. It speaks volume about the solid confidence level of these players. Now Virat Kohli and the team management will have some pleasant headache while deciding on the final 11 when the more seasoned players return. Hopefully, the younger players will be handled carefully so as to not let them get disoriented if they are not selected. They must be kept motivated all the time. Lastly, a significant section of cricket lovers used to believe that IPL has killed Test cricket, but in fact it is IPL that has given us players like Sundar, Natarajan, Navdeep Saini and Siraj.
Bal Govind, Noida
