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Bulls, Bears and Other Beasts (5th Anniversary Edition): A Story of the Indian Stock Market
Lalchand Gupta takes you on an exciting journey through Dalal Street in this brief history of the Indian stock market post liberalization.
From tech booms and tax evasion to banks and money laundering; scams and crashes to fixers and investors, Lala has seen it all.
A comprehensive account of the stock market over the last 25 years, it tells you what to watch out for while investing. It also looks at policies that the government needs to revise if the country is to harness domestic capital more effectively.
This is a must-read for all interested in the financial health of the country as well as those who want to know about the sensational events that led up to the far more sterile stock-market operations of the present day.
382 pages, Kindle Edition
First published January 1, 2016
260 people are currently reading
2273 people want to read
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Displaying 1 - 30 of 220 reviews
October 23, 2020
The Greatest Thriller Ever Written on Indian Stock Markets !!!
Year By Year account of India's greatest Stock exchanges.
The book is narrative of "Lala" a who starts his life with Indian Stock market from a low level and rises to the top.
You will encounter all big names like Harshad Mehta and Ketan Parikh and how they found loop holes in trading systems and fooled banks and Stock Exchange regulators and created multi million Scams.
Once you reach the end of the book, you will have different views about Benjamin Graham and Warren Buffet. Fundamental Views of a Company has little to do with rise and fall of shares and it is all created by wills and mights of so called Gods of Stock markets.
The Book is an excellent Read, But i wonder Why Author chose to miss out on Harshad Mehta's Big Bags of money that he used to bribe PVN - the Prime minister.
Overall it gives a good view on how stocks are manipulated and traded and how a retail investors is fooled by watching those fundamentals and so called TV channels, that promises assured multi bagger stocks.
Lovely Read. Would love to read again !!!
Year By Year account of India's greatest Stock exchanges.
The book is narrative of "Lala" a who starts his life with Indian Stock market from a low level and rises to the top.
You will encounter all big names like Harshad Mehta and Ketan Parikh and how they found loop holes in trading systems and fooled banks and Stock Exchange regulators and created multi million Scams.
Once you reach the end of the book, you will have different views about Benjamin Graham and Warren Buffet. Fundamental Views of a Company has little to do with rise and fall of shares and it is all created by wills and mights of so called Gods of Stock markets.
The Book is an excellent Read, But i wonder Why Author chose to miss out on Harshad Mehta's Big Bags of money that he used to bribe PVN - the Prime minister.
Overall it gives a good view on how stocks are manipulated and traded and how a retail investors is fooled by watching those fundamentals and so called TV channels, that promises assured multi bagger stocks.
Lovely Read. Would love to read again !!!
January 13, 2022
This book is different than other investment books I have read. Its a fictional story of the evolution of Indian stock markets from the eyes of a fictional jobber/ trader - Lalchand Gupta. Though I use the word fictional twice in the earlier sentence, some real life characters are named while some others are easily guessable.
The book is primarily an 'events' book for the markets interspersed with the behind the scenes goings-on of traders, operators, promoters, money managers and regulators. I think people who have lived through those times will find this even more interesting and for others, its an engaging story of when the markets resembled the Wild West.
The only drawback I felt was that the story is written exclusively from eyes of a trader and that sometimes makes it monochromatic. Its all about bear raids, FII flows and unscrupulous promoters - an uninformed reader might draw the conclusion that the market is an endless string of frauds and scams which is very far from reality.
The book is primarily an 'events' book for the markets interspersed with the behind the scenes goings-on of traders, operators, promoters, money managers and regulators. I think people who have lived through those times will find this even more interesting and for others, its an engaging story of when the markets resembled the Wild West.
The only drawback I felt was that the story is written exclusively from eyes of a trader and that sometimes makes it monochromatic. Its all about bear raids, FII flows and unscrupulous promoters - an uninformed reader might draw the conclusion that the market is an endless string of frauds and scams which is very far from reality.
February 18, 2023
The bug of stock market bit me pretty late in life, when I was in the wrong side of my 30s.
Beginner's luck helped me to cash in decent returns in the first few months. The usual overconfidence of misconstruing luck as skill overpowered me. Presuming I could make a killing by swing trading, I went in big and started losing money. I devised these rules during that period -
Rule 1 : Whatever you buy, will go down immediately. Whatever you sell, will go up.
Rule 2: Company result good, stock will go down; Company result bad, stock will go up.
Rule 3: Don't ever be surprised. Whatever you think is the worst, 10 times worse of that is going to happen.
Rule 4: Macro Economic condition of the country has nothing to do with Stock Market
Rule 5: The stocks that you didn't buy, will do well.
As I was getting frustrated looking at my yearly returns, Covid struck and my portfolio became half. Panic stricken, I sold majority of my stakes the first chance I got. Realized later that I was cashing in at the middle of the bull run. Staring at potential losses, It dawned on me trading is not my cup of tea. Acknowledging that stock market is one of the best ways to make wealth, I have finally realized that the best use of my time and money is to become long term investor in the usual blue-chips, and do things that I love the most - Read.
As I read this book, hailed as the quintessential history of Indian stock market (deservedly so), I realized that quitting trading after a short so journ was not a bad decision at all. The amount of manipulation listed by the author, who happens have closely monitored Indian stock market for quite some time, I realized the retail investors can't make head and tail of the stock market ever. Only few can make money riding the tide.
The book, written as a first person account of a trader, gives a very nice chronology of indian stock market's journey, avoiding political controversies and scandalous tell-alls.
Recommended to all, who think they have mastered the art of trading.
Beginner's luck helped me to cash in decent returns in the first few months. The usual overconfidence of misconstruing luck as skill overpowered me. Presuming I could make a killing by swing trading, I went in big and started losing money. I devised these rules during that period -
Rule 1 : Whatever you buy, will go down immediately. Whatever you sell, will go up.
Rule 2: Company result good, stock will go down; Company result bad, stock will go up.
Rule 3: Don't ever be surprised. Whatever you think is the worst, 10 times worse of that is going to happen.
Rule 4: Macro Economic condition of the country has nothing to do with Stock Market
Rule 5: The stocks that you didn't buy, will do well.
As I was getting frustrated looking at my yearly returns, Covid struck and my portfolio became half. Panic stricken, I sold majority of my stakes the first chance I got. Realized later that I was cashing in at the middle of the bull run. Staring at potential losses, It dawned on me trading is not my cup of tea. Acknowledging that stock market is one of the best ways to make wealth, I have finally realized that the best use of my time and money is to become long term investor in the usual blue-chips, and do things that I love the most - Read.
As I read this book, hailed as the quintessential history of Indian stock market (deservedly so), I realized that quitting trading after a short so journ was not a bad decision at all. The amount of manipulation listed by the author, who happens have closely monitored Indian stock market for quite some time, I realized the retail investors can't make head and tail of the stock market ever. Only few can make money riding the tide.
The book, written as a first person account of a trader, gives a very nice chronology of indian stock market's journey, avoiding political controversies and scandalous tell-alls.
Recommended to all, who think they have mastered the art of trading.
July 26, 2021
If I were to compare Investing and Reading, reading this book was an Intra Day trade. Bought it at a recommendation of a meme page. From the moment I picked it up I knew I was in for a ride. This book is a primer for newbies and a reminder for oldies. For all the drama that has went into making the sterile markets of today with SEBI reigning supreme, there have been thousands of stories. It’s just a chronicle of these. Highly recommended for everyone who has invested even a rupee in the markets.
January 11, 2023
This book has multiple 5 star reviews across platforms. One of the best books about the Indian stock market. Loved it!
The author uses a gripping storyline that blends truth and fiction to tell the account of the Indian stock market. Lalchand Gupta, a fictional character from the story, guides us through the ups and downs of the stock market. The narrative manages to keep your attention despite what could have been an extremely depressing subject.
The fact that the author has been covering the Indian stock market for decades and is therefore familiar with the hidden schemes underlying some of the frauds enhances the narrative's credibility. Majority of the characters are fictional (or composites of real people), but the incidents shown and the stock market manipulations and scams referenced are true, with accurate numbers and timings (sometimes with real characters as well).
The author uses a gripping storyline that blends truth and fiction to tell the account of the Indian stock market. Lalchand Gupta, a fictional character from the story, guides us through the ups and downs of the stock market. The narrative manages to keep your attention despite what could have been an extremely depressing subject.
The fact that the author has been covering the Indian stock market for decades and is therefore familiar with the hidden schemes underlying some of the frauds enhances the narrative's credibility. Majority of the characters are fictional (or composites of real people), but the incidents shown and the stock market manipulations and scams referenced are true, with accurate numbers and timings (sometimes with real characters as well).
October 31, 2020
Click a few taps, enter your password, add some funds, confirm the order and voila you are done..
One could be mistaken for thinking that the above simple steps are for purchasing something in the various e-commerce sites like Amazon. Well, these are the steps there but here I am talking about buying something as complex and critical like financial instruments ( shares/ETFs / MF etc). We must have seen old vignettes wherein people are shouting in a big hall trying to sell off shares like some open bidding. In days of electronic trading those visuals might look amusing and may I say , a bit overdramatic. This book dispels all those notions. The book traces the life of an Indian trader from the 80s till date and in that life journey, it touches upon wide-ranging topics concerning Indian bourses. While the main character is fictitious, the other details in the book are as real as they can come. The book touches upon liberalisation, Harshad Mehta scam, Ketan Parekh scam, Jignesh shah rise and downfall in addition to talking about how the Indian markets matured over the years. Once started, I could not put this page-turner down. Probably this has to do with both the easy free-flowing writing style and my interest in the market.
All in all, I would highly recommend this book to anyone who is interested in knowing the history of the Indian stock market. Infact, I think it may be the best book out there on this topic.
One could be mistaken for thinking that the above simple steps are for purchasing something in the various e-commerce sites like Amazon. Well, these are the steps there but here I am talking about buying something as complex and critical like financial instruments ( shares/ETFs / MF etc). We must have seen old vignettes wherein people are shouting in a big hall trying to sell off shares like some open bidding. In days of electronic trading those visuals might look amusing and may I say , a bit overdramatic. This book dispels all those notions. The book traces the life of an Indian trader from the 80s till date and in that life journey, it touches upon wide-ranging topics concerning Indian bourses. While the main character is fictitious, the other details in the book are as real as they can come. The book touches upon liberalisation, Harshad Mehta scam, Ketan Parekh scam, Jignesh shah rise and downfall in addition to talking about how the Indian markets matured over the years. Once started, I could not put this page-turner down. Probably this has to do with both the easy free-flowing writing style and my interest in the market.
All in all, I would highly recommend this book to anyone who is interested in knowing the history of the Indian stock market. Infact, I think it may be the best book out there on this topic.
February 25, 2022
Loved every bit of it :)
June 5, 2020
A very interesting way to write a book on the Indian stock market from the 1980s to the present. Historical fiction applied to financial markets. Most of the characters are fictional (or based on composites of real characters) but the events depicted are real and the scams and the stock market manipulations mentioned are real with real figures and timelines (sometimes with real characters as well).
The book is a good historical account of the different ups and downs of the stock market as seen from the eyes of a fictional stock market trader called Lalchand Gupta. Also covered are some of the seminal events in the history of India and Indian stock markets such as the 1991 reforms, elections of both the NDA and UPA governments, the rise of the NSE, MCX, and algorithmic trading and the Harshad Mehta and Ketan Parikh scams.
The narrative is quite gripping in what could be a very dour subject: thanks to the fictional characters that help you navigate this history. It helps that the author has been reporting on the Indian stock market for dogs years and hence knows the hidden machinations behind some of the scams and it helps the authenticity fo the narrative. Easily one of the best books written on the Indian stock market.
The book is a good historical account of the different ups and downs of the stock market as seen from the eyes of a fictional stock market trader called Lalchand Gupta. Also covered are some of the seminal events in the history of India and Indian stock markets such as the 1991 reforms, elections of both the NDA and UPA governments, the rise of the NSE, MCX, and algorithmic trading and the Harshad Mehta and Ketan Parikh scams.
The narrative is quite gripping in what could be a very dour subject: thanks to the fictional characters that help you navigate this history. It helps that the author has been reporting on the Indian stock market for dogs years and hence knows the hidden machinations behind some of the scams and it helps the authenticity fo the narrative. Easily one of the best books written on the Indian stock market.
April 13, 2019
Easily one of the best books i ever read on finance and the stock market. The author tells the story of the Indian stock market by creating a rivetting tale that combines both fact and fiction, taking us through the ups and downs of the stock market through the tale of a fictional character, the wily trader Lalchand Gupta. Very hard to put down onve you start reading. Must read if you want to understand what moves stocks on the market, how the mind of a trader works or to understand the wicked schemes and financial shenanigans of a Harshad Mehta or Ketan Parekh. All this while quoting Amitabh Bacchan's dialogue from Zanjeer and censored curse words. Very underrated book, this book is easily one of the best on the stock markets.
August 21, 2021
This is great book to show you the cyclical nature of the market. It was great to learn the many things, small and big which have bought the Indian markets to where they are today. People investing in the Indian equity would enjoy this. It will also assure them staying long in the market will yield benefits. The markets have had many news cycles, many hiccups and many people trying to control and manipulate it but none could do them for long and eventually the fundamentals kick in at some point or the other.
Didn't find the writing style quite gripping though. The narration falls flat at times.
Didn't find the writing style quite gripping though. The narration falls flat at times.
March 25, 2021
Extremely informative, engaging book, brilliantly written. Must read for every retail investor, tells how promoters, FIIs, brokers, big traders influence stock prices to trick us into thinking some stocks are a good buy. And lot of other market manipulation practices that used to exist and some which still exist. It'll help you understand alot of market jargons, which is amazing. Last few chapters got a little boring. But nevertheless, A MUST READ!
April 17, 2020
It's a initial guide to Indian Stock Market history from 1887 to 2015.
It's journey of an Trader/Jobber Lalchand Gupta, it's very informative & interesting.
I recommend this book for new comer in the Capital Market.
It's journey of an Trader/Jobber Lalchand Gupta, it's very informative & interesting.
I recommend this book for new comer in the Capital Market.
December 27, 2020
Started reading this after binging 'Scam 1992' and gaining an interest in the history and working of the Indian Stock Market. This book effectively provides all the answers in a lovely story format alongside proper explanations when needed, for finance noobs like me.
Definitely recommended.
Definitely recommended.
January 4, 2017
A fabulous account of the developments in the Indian stock markets. This gives you a ringside view of the happenings with many important lessons.
January 21, 2017
Super start to the year with a fantastic book. Must read for all the participants of Indian markets.
September 13, 2017
Book with very valuable insights of the evolution of the India stock marker
October 19, 2017
A very enjoyable read on history of Indian stock market through the eyes of a fictitious trader.
June 24, 2020
Interesting, pacy book on the initial wild days of the Indian market. Must read for investors in the Indian equity markets
November 2, 2020
Amazing book for anyone who is interested in how Indian stock market evolved over a period of 30 odd years. The semi fictional narrative is an enthralling journey which you undertake with the protagonist Lalchand Gupta. He lies low, works hard and learns from others to become a successful trader. We see the different macro events unfolding in front of our eyes across the years and their impact on the stock markets. It also gives a ringfence view of how the dreaded 'operator' dupes the retail investors. Also, it gives an overview of the financial frauds/money laundering and stock price rigging by the promoters in collusion with the operators.
An awesome read for someone who needs a peek in to the ways of working of our stock market, Rightly labelled as the land of Bulls, bears and other animals.
5 Stars!
An awesome read for someone who needs a peek in to the ways of working of our stock market, Rightly labelled as the land of Bulls, bears and other animals.
5 Stars!
June 17, 2024
Rating - 4.5 stars
NPS - 10 (Promoter)
In the aggregate, real wealth was made, not by the crooks, but by long-term investors, who overlooked the cacophony of the stock market and instead focused on the fundamentals of businesses, and that of India
A fun and informative read about the history of the stock market in India when it was highly unregulated till the days of strict rules and exponential growth.
The narrator is Lalchand Gupta, who starts as in the backend of a small time broker’s office to his rise as a broker and fall in the financial industry.
Loved it!
NPS - 10 (Promoter)
In the aggregate, real wealth was made, not by the crooks, but by long-term investors, who overlooked the cacophony of the stock market and instead focused on the fundamentals of businesses, and that of India
A fun and informative read about the history of the stock market in India when it was highly unregulated till the days of strict rules and exponential growth.
The narrator is Lalchand Gupta, who starts as in the backend of a small time broker’s office to his rise as a broker and fall in the financial industry.
Loved it!
November 8, 2024
If you are a stock market nerd or a history nerd or better still, both, this book is perfect for you! The fictional protagonist goes from being a jobber to a significant broker and along the way the author gives us a year by year account of the significant events in India's securities markets.
The only disappointing bit is that there is a missed opportunity to flesh out the protagonist's personal life and other supporting characters in the book. But as I was reading it for a history of the markets and not as a stand-alone novel, I enjoyed it nonetheless.
The only disappointing bit is that there is a missed opportunity to flesh out the protagonist's personal life and other supporting characters in the book. But as I was reading it for a history of the markets and not as a stand-alone novel, I enjoyed it nonetheless.
April 25, 2020
One of the best books written on the Indian financial markets and a really easy read told through the story of Lalchand. As Lalchand evolves as a trader and stock broker in the story, you get to see the economy and the stock markets of India evolve with him. The book covers almost all key financials events in the period of 1990 to about 2015.
June 6, 2021
Very fascinating to read and not boring at all. Writer has a knack to write well and in a manner that keeps you interested. If you are new you stock market or you are not someone who doesn't know the inner workings of a stock market, you get a taste of how things happen. You at-least get some clarity on the stock market. overall, very fun and educational read. strongly recommend.
March 4, 2021
For anyone interested in Indian Stock Markets, the best thriller out there.
June 17, 2024
A very very interesting way of presenting and narration of a complex organisation, in structure & operation, the stock market.
Thoroughly enjoyed it, and got quite a few interesting notes.
Thoroughly enjoyed it, and got quite a few interesting notes.
August 20, 2024
A must read for newcomers to the Indian stock market. Because history may not repeat itself, but it sure does rhyme.
April 7, 2022
A brilliant fictional account of a Indian stock market trader intertwined with real events. The story sounds so real due to the >50% of real events used in the book. It is much needed for laymen who invest in any stock market to not get caught in the traps that happen every single day. Must read for an investor.
February 6, 2023
Phenomenal!
October 6, 2023
Excellent walk through the Dalal Street from its initial years till the recent past. Neither too preachy, nor biographical. Just the journey of a fictitious central character, Lala, who witnesses the ups and downs of the stock market in India.
March 14, 2021
It is good book for the newbie (Investor/Trader). The book is all about the stock market Journey from Floor Base Trading to Digital Trading. Also, How price change and what factors affect. Which mention In layman language.. Must read to know the Indian History of Stock Market.
Displaying 1 - 30 of 220 reviews