May I have privilege to take this discussion further ( just one last comment :)) because I dont buy into idea of analysis of promoters behaviour(esp corrupt practices) based on regional background & since I actively participate in anti corruption campaign at my location, so may be I really addicted to this type of discussion.
I think,Its simply our psychological biasing induced which gives a wrong perception as such. Below few major scams I listed , we can see that they are cut across India?Indians basically not on any particular region (Andhra region or any) in majority.
Index ofcorruptionby Indian State also reveals different perception - May be I should condemn my state own state first ( Bihar, which itself is hard truth ) to be more corrupt than any other state people as per index
May be there are not many listed companies from my state or yours as compared to Andhra or any other, because of which we are blind folded with this regional biasing.
Top 10 Business scams in India
1) 2G Spectrum Scam
2) Commonwealth Games Scam
3) Telgi Scam
4) Satyam Scam
5) Bofors Scam
6) The Fodder Scam
7) The Hawala Scandal
8) IPL Scam
9,10) Harshad Mehta & Ketan Parekh Stock Market Scam
Top 10 Corporate know scammers in India (published so far)
1). Ramalinga Raju - Satyam
2). Harshad Mehta - Big Bull
3). Ketan Parekh - NH Securities.
4). C R Bhansali - CRB Capital Markets
5). Sohin Daya - Cobbler scam
6). Dinesh Dalmia - DSQ Holdings
7). Abdul Karim Telgi - Dupl Stamp Papers
8). Virendra Rastogi - RBG Resources
9). P S Subramanyam - UTI scam
10). Uday Goyal - Arrow Global Agrotech
11). Sanjay Agarwal - Home Trade Scam
12.Mr. Shivraj Puri - Citibank Fraud
Stock market investing is a pattern recognition game (be it value investing, growth investing, technical analysis, day trading), each looking at a different pattern. Vivekji brings a social aspect of it, which I feel is a value addition to the forum. I have interacted with him, and found his statistical analysis of behavior of promoters belonging to various strata, regional background, a big positive. One shouldn't take these with a negative spirit.
Past experience interacting with the members of this forum, tells me that people with decent experience in stock market, do worry a lot before investing in AP-based company, because way too many companies have gone bust (Satyam, Decan Chronicle, are name of a few). This is a known fact, and vivekji is not saying anything new.
There is a saying in my mother tongue oriya, "the mother whose child was beaten by snake, do fear a rope lying in the floor". This i think is a pattern-induced bias, an irrational but useful mental model.
** comment.I **
** society.Eventhough **
Thanks for understanding.