May 20, 2007

 

Assumption is mother of all sc***-ups

More on the Bajaj Auto saga. From a news story in DNA on the same subject -
"Rajeev Varma and Aashish Agarwal of Merrill Lynch, in a February 2, 2007 report, had valued the life insurance business at Rs 12,384.30 crore, based on certain assumptions and performance of 2007-08."
Nothing gets more appalling than this. Analysts value business worth more than Rs 12,000 Crores (or $ 3 billion) based on assumptions. Is it that hard to get the information about JV from the company that one has to fall back on fanciful imagination?

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