Every regulation you find irritating was written after somebody did something. Nair’s book is the story of who, and what.
What it covers
Three decades from the badla era through the 1992 securities scam, the arrival of NSE and screen-based trading, the 2000 crash, and the long shift to the market we trade now.
Why it’s useful rather than merely interesting
- It explains why SEBI behaves as it does — most rules are scar tissue.
- It shows how market structure changes edges. Whole strategies died when settlement moved to rolling and the screen replaced the floor.
- It’s a long, honest record of leverage killing people who were right.
Your own take goes here — the parallel you see between then and now.