Category: Uncategorized

Sandip Sabharwal - Uncategorized

IS THE LONG TERM RALLY IN GLOBAL BONDS ACTUALLY OVER, MID MONTH UPDATE

The continued rally in the bonds of developed markets like US, Germany, UK etc has continued to intrigue most analysts over the last few years.  Some of the most prominent and well known bond investors gave a call over two years back that the two decade plus rally in global bonds is over for good. […]

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ARE HIGH INTEREST RATES THE SOLUTION TO INDIA’S CAD PROBLEM

Over the course of the last three monetary policy statements the RBI has shifted the debate away from inflation to the Current Account Deficit. It is apparent that the slowdown in the upward spiral of food prices, the fall in global commodity prices by nearly 15-20% along with the total lack of pricing power with […]

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REVISITING THE THESIS, ONE THIRD INTO THE YEAR

As the year started off, things looked optimistic in the global and Indian context based on several factors. In the Indian context the positivity was primarily based on expectations of a more proactive government on the ground and also an easing of inflationary pressures which would force the RBI to act. In the global context […]

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“Value Creation in India Over The Last Two Decades”.

Value Creation over the long term is always the facet of stock market investing. Most investors who have invested over the long run have made strong returns from their investments. The fall in markets since the stock market peak of 2007 has built a strong conviction in the minds of people that equity is a […]

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DON’T BELIEVE THOSE WHO SAY

THE RUPEE WILL KEEP FALLING – Given the Current Account Deficit situation and the inability of exports to pick up despite the sharp underperformance of the INR against most competing currencies a theory is gaining ground these days that the INR is overvalued and it should fall more to make imports unattractive and exports more […]

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MF Industry in India – THE “HAVES”, “CAN BE’s” and “THE HAVE NOT’s”

The MF Industry in India has gone through three distinct cycles. The first cycle started in the early 1990’s with the entry of PSU Bank floated MF’s into the industry that was just UTI at that stage. The initial phase of growth was very short where investors were largely unaware of what MF’s were and […]

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MF Industry in India – THE “HAVES”, “CAN BE’s” and “THE HAVE NOT’s”

The MF Industry in India has gone through three distinct cycles. The first cycle started in the early 1990’s with the entry of PSU Bank floated MF’s into the industry that was just UTI at that stage. The initial phase of growth was very short where investors were largely unaware of what MF’s were and […]

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A Slowing China, increasing inventories & supplies – prolonged period of subdued commodities

One of the biggest factors that have led to the spiral in commodity prices over the last 10 years has been the vociferous appetite of China for commodities as it set on a path to build infrastructure and cities. Chinese consumption of various important commodities like Steel, Copper, Aluminium, Crude Oil, Rubber, Cotton etc has […]

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Subbarao is not Volcker and India is not the US

While central bankers worldwide have continued to balance their policies to focus on reviving growth while keeping a lookout on inflationary expectations the policy environment in India has been totally opposite. I have argued for a long time with different logics that although the RBI started off its tightening policy at the right time and […]

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Why, What, When, If

Why are some Emerging Markets underperforming – in the current year till date we have seen developed markets do better than EM’s in general. The reasons have been signs of recovery in the economies of these countries, extremely low interest rates and the huge under ownership of equity that has built up over the last […]

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