INSUBCONTINENT EXCLUSIVE:
You need both bears and bulls to create wealth on Dalal Street and to clean up the system
Veteran investor Shankar Sharma says a bear market often helps clean up the system, as it exposes scams, which the bulls tend to keep hidden
Bear markets expose scams
Bull markets keep them hidden
Harshad, Satyam and now a massive list of scams or defaults are all out in the open thanks to a bear market
Up until the first quarter earnings, the size of the fraud stood at a little over Rs 14,000 crore (nearly $2 billion)
Bank of Baroda, UCO Bank and IDBI Bank
PNB stock has lost about 55 per cent of value in last one year.
