Wednesday, September 17, 2008

Morgan Stanley & Monsoon Capital : Feathers flying & Turkeys trying.

For quite a while now, we have been keeping a steady eye on this global zoological bunch who've managed to pass off as a finance and investment firm wherein the careful eye did reveal a while back , the startling underlying reality that it was a bird pen for largish, puffy birds who loved to dress as suits.

Since those early days , the seeming success of these orniths ( distinctive for their awkward gait and useless views) despite their odd practice of providing every MD's cabin with private sand-box to immerse his head and views in those head-y days..oh yes!..we confess.. MS Ostriches and Monsoon Capital's Turkeys made it look so easy that we floated our own little UnHedged fund.. to try and ease the pain of cashConstipation so many Indian bulls seemed to be suffering from .. they needed relief and one which ensured they never be put into that pain again..the poor suffering bulls needed a cash enema..and needed it hard.

So we did copy their model a bit, yes.. but improved on their feathered fetish with a more hirsute pursuit.. and have to admit the westAfrican Baboons have wildly exceeded our X.

But recently the softly humming, big bird beehive of smooth, oblivious and cluelessly unflappable activity that was the hallmark of Morgan Stanley's investment genuis in this country, started showing alarming signs of disarray and disruptions and you can understand the sand and feathers flying around in downtown Mumbai's financial district can cause even the most longTermStoryIntact bulls to look up nervously from their plodding..yup, the flying feathers and large flightless birds in suits suddenly didn't look right.. especially when visitors reported the MDs' new ritual of collectively putting their heads together and in into the central sandBox at the Head Office for the entire trading hours.. the rumours were now rife..could these really be Chimps pretending to be Ostriches??..gimme a break.. just the markets overshooting again.

Though on a positive note, Monsoon Capital seems to have put together another India specific fund from entirely fresh crop of investors and plans to expoit the fantastic new Inflection emerging in this country.

As we had noted in March:

"The Monsoon India Inflection Fund LP has dropped 28.3% this month, through March 20. That leaves it down 45.9% so far in 2008, Prakash wrote in an update to investors. MarketWatch obtained a copy of the letter."
..and Gautam Prakash, one of the sharpest turk(ey)s in this business, quick learner from mistakes that he is, is aptly naming his new attempt as the "Monsoon India Deflection Fund LP" deflect any disgruntled criticism or attempts to enforce prior claims .

..smells like some American largeBird Flu, if you ask me..


Anonymous said...

Any updates on Monsoon's returns after the 45% drop???

Anonymous said...

they have not yet even started marketing it aggresively.
how come you know about this?