[image: PPFAS] <http://www.ppfas.com/> *18th May 2009* *Inside this report...* The Case of mistaken identity <#1215205d71653a16_12151fee67305d29_pv> Index Funds <#1215205d71653a16_12151fee67305d29_if> Oracle Financial Services Software Ltd.: Q4FY09 Result Update<#1215205d71653a16_12151fee67305d29_ofss> *The Case of mistaken identity* Contributor: Arpit Ranka | [email protected] *“We are not so sensible of the greatest health as of the least sickness”* - Ben Franklin (Read profit for health and loss for sickness)
People want to make money not only for the need of it but also for the identity it creates for the person who makes it. After all in today’s world to be successful is to be rich. When so much is at stake it is only natural that the very prospect of ‘loss’ makes people anxious. And the best way to deal with it is not psychological denial but by taking appropriate measures to handle those emotions. *“Distrust and caution are the parents of security”* - Ben Franklin As an investor I think that the intensity of emotions become stronger after we commit ourselves to a particular stock. Because once we commit ourselves to a stock it becomes a case of mistaken identity (ie) we identify the stock as a reflection of our ability and its success for ours. In short, the quality of the result becomes more important than the quality of the process, which can be misleading when trying to work out in a complex system such as stock market. And the best way to deal with the anxieties arising out of mistaken identity is to realize it and incorporate certain antidotes in our investment philosophy. more...<http://www.ppfas.com/research/ereports/week/180509/index.php#pv> *Index Funds* Ashish Shah | [email protected] An Index Fund is a mutual fund scheme that invests in the securities of the target Index in the same proportion or weightage. Index funds are passive investments. This means that a portfolio manager will allocate the fund's assets across stocks that constitute the index in the same proportion as their respective weights in the index. The mandate is to mirror the index movements. Active funds, in contrast, are mandated to beat the benchmark index. They accordingly charge high management fees, nearly twice as much as the index funds. The two important parameters to choose an index fund are expense ratio and tracking error. Tracking error, which is the standard deviation of the returns differential between the fund and its benchmark. The objective is to choose the one with the lowest tracking error. The optimal index fund then is one, which has low tracking error and expense ratio. more...<http://www.ppfas.com/research/ereports/week/180509/index.php#if> *Oracle Financial Services Software Ltd.: Q4FY09 Result Update* Raunak Onkar | [email protected] Oracle Financial Services Software Limited has reported an impressive 77% jump in earnings for the year ended March 31, 2009. Overshadowed by the economic conditions in the financial services & the banking sector, OFSS still manages to report a 23% growth in Revenues at Rs. 2927.6 Crs as compared to its FY08 Revenues of Rs.2380.2 Crs. OFSS has shown remarkable operating performance from 19% in FY08 to 25% in FY09. The products revenues represent 62% of the overall revenue of FY09 with 31% growth over the previous financial year. Services revenues have grown at 13% compared to last fiscal year representing a 36% share of the revenues. Geographically the client concentration shows a decline in US revenues from 33% last year to just 29% this year coupled with substantial client additions in Asia Pacific & Middle East geographies. Oracle Flexcube shows a strong presence in Asia by winning deals in Cambodia, Vietnam, Nepal, Bangladesh & China. One of Indonesia's largest lenders prefers Oracle Revelues Basel II implementation. During Q4 FY09, 8 banks have gone live on the Oracle Flexcube. This quarter has seen new product releases like Oracle Flexcube Direct Banking, Oracle Revelues ICAAP, Oracle Reveleus Market Risk & Oracle Mantas. more...<http://www.ppfas.com/research/ereports/week/180509/index.php#ofss> Click here to view full report<http://www.ppfas.com/research/ereports/week/180509/index.php>| Download PDF <http://www.ppfas.com/pdf-docs/research/week-reports/2009/wr180509.pdf>| Download PPFAS Screensaver <http://www.ppfas.com/whats-new/index.php> If you have a query please email us at [email protected]. We would be glad to answer any queries with regard to this report. If for any reason you want to come out of our mailing list, click unsubscribe <[email protected]?subject=unsubscribe>. *Parag Parikh Financial Advisory Services Limited* 130/132, Great Western Building, 1st Floor, S.B.S. Marg, Near Lion Gate, Fort, Mumbai - 400 001 INDIA. Tel : 91 22 2284 6555 Fax : 91 22 2284 6553 -- Regards, Anuj Anandwala Analyst I Investment Research Parag Parikh Financial Advisory Services Ltd. Tel: 022 2284 6555 URL: www.ppfas.com --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
