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Are magazine cover stories contrarian indicators?

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Last week, TIME magazine had put Prime Minister Manmohan Singh on its cover tagging him ‘THE UNDERACHIEVER’. Brokerage firm Karvy feels these contrarian indicators could precede a reversal of fortunes for India’s economy and markets. It supports its thesis by listing some popular covers of leading global magazines over the past three decades(Click on graphic)

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But the scenario shows otherwise

This week, it was revealed the Tribune Company had hired investment bankers to sell its newspaper unit, which included The Los Angeles Times and the ...

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