Santosh’s book takes on the daunting task of chronicling the events in India’s stock markets from the go-go years of the nineties to now when it seems a well-regulated market. What makes it different from other books on markets is that it takes a semi-fictional approach to it, giving you a ringside view of events as they happened and not a dull recount of what happened.
The setting may have changed, to shenanigans being plotted in glass-faced buildings in the new business districts, from offices around Dalal Street but the actors are the same—the intermediary, regulator and speculator/investor. This book is especially useful to understand how the market worked in the nineties. The excesses of those years are still responsible for the ‘casino’ tag that the stock market carries till date and has made retail investors shy away from equities.
Santosh weaves a well-researched account of several complex and well-known events in this book, sprinkling clues about the identities of persons involved, so that you can nod knowingly or speculate about who they are. It is a book you would want to read in one go, so keep some time aside for it. Could have done with some tighter editing and some fictionalised parts were not necessary but these don’t really detract from the massive effort that is visible in the making of this debut book.