tag:blogger.com,1999:blog-2335748440449035592.post5018266313147175319..comments2008-07-18T13:32:33.738-04:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-2335748440449035592.post-80185900487433052922008-07-18T13:32:00.000-04:002008-07-18T13:32:00.000-04:00Gaurav, thanks for the insight. I saw ICICI is actually opening US branches now as well.<BR/><BR/>I appreciate the data on the differences... there is such a dearth of Indian stocks for US investors I've been using these 2 as a proxy for India. There have been a few newer Indian ETFs launched in the past half year which might be better but right now everything Indian is being demolished.<BR/><BR/>HDB has held up far better than ICICI so your breakdown makes a lot of sense.<BR/><BR/>American banks have little insight and a lot of risk taking to expand EPS - when your compensation system for executives is built on "beating the number" you take as much risk as possible and only worry about the short run. You dont raise capital when it would be prudent thinking for the long run. <BR/><BR/>So much goes back to our compensation system but no one will ever touch it - they just claim free markets dictate salaries and shut up about your complaints. :) Heads we win, tails we still win compensation...TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-28457134372759149552008-07-18T13:23:00.000-04:002008-07-18T13:23:00.000-04:0025% of ICICI bank loan book is international - they are the ones funding all these global acquisitions by Indian cos. And they dont have a deposit base internationally. So they have borrowed heavily in the short-term markets, so their CDS has blown apart. HDFC bank is a much better bank than ICICI - not least because their deposit base is higher. ICICI is like Citi - whenever there is trouble, they will get hit. Good underwriting is not in its DNA. <BR/><BR/>The only good thing about Indian banks right now is - they all raised money last year at the height of the bull market, not like their western counterparts raising money now when stocks have fallen 70%.Gauravhttp://www.blogger.com/profile/08259512251834679825noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-61487501252782712602008-07-18T12:30:00.000-04:002008-07-18T12:30:00.000-04:00Well he has been buying for years, high, low and medium<BR/><BR/>We posted that in the comment sections of yesterdays post "Bookkeeping: A few Energy Purchases" :)<BR/><BR/>Aubrey is like a bank ATM.TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comtag:blogger.com,1999:blog-2335748440449035592.post-75276220387412470702008-07-18T12:18:00.000-04:002008-07-18T12:18:00.000-04:00wow..CHK ceo again bought good chunk..750,000 shares..wow..<BR/><BR/>this guy may know that street is stupid.Passionate Investorhttp://www.blogger.com/profile/13667970151880837018noreply@blogger.com