2008 - The Year that wasn't.

The Year 2008 had been an year of agony and sorrow for the Investors worldwide-An Year which was characterised by over projected growth estimates,Galloping inflation, High stock market volatility, Housing Bubble burst, global financial Meltdown , death of many organisations,Burgeoning Unemployment rate, economic slowdow, recessionary tendencies and the steep slip of the Giant economies.Its time for Fortune magazine to replace its "Fortune-500" with "MISFORTUNE-500" as most of its so called Fortune 500 companies have been the ones highly affected by the Crisis Storm.Companies like Lehmann Brothers, CITI Group, GM, Ford, Daimler Chrysler, Fannie Mae,Freddie Mac, AIG,Wachovia Corp,Bank of America, Washington Mutual ,Bear Stearns, Bank of Newyork, Goldman Sachs etc had been victims of the Crisis.Chapter-11 has been the most heard buzz word in the recent times.
Terrorism,Madoff scam,Credit card Crisis,Floods & Hurricanes, The never ending israel-palestinian Crisis, Tensed Borders of Ind-Pak,Automobile Industry Debacle, Aviation sector slowdown have been other matters of concern in 2008.
One significant event being the emergence of Barack Obama as the President of America. Though Governments of various countries have come up with stimulus packages to fight the recessionary pressures, The World is awaiting for the moves of Barack Obama to help the world from the clutches of Recession.
From the Indian Perspective, the Year 2008 started off on a high note with Sensex touching 21K in Mid-Jan, Reliance Power going for an IPO , with news round the corner that Sensex is likely to reach 25K by the end of the Year. However all those who were a part of this frenzy had to eat a humble pie when sensex started to fall as if its time to pack up. Sensex reached an all year low of around 7800 points losing almost 60% of its all time high, Research houses have come up with projections of slight decline in India's economic growth due to the global slowdown, IT and Realty sector are the worst hit due to the recession.RBI had been taking all the possible steps to muster confidence in the minds of the investors.

Hope 2009 reverses the downtrends of 2008 and paves way for an Year Full of prosperity for the investors and the country.