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'India growth story will be sustained'
August 30, 2007
During his 45-minute presentation, Jhunjhunwala made an irrefutable case for sustaining the India growth story.
US slowdown may affect Indian market only for short term, he assured, adding, "India will have favourable asset allocation outcome in the long-run."
Enormous wealth was created over the last five years because opportunities in India have grown manifold, Jhunjhunwala stated. Admitting that gains were going to be moderate in future unlike the manifold rise over the last few years, he advised investors to be realistic in their expectations.
The super broker took the cue from Warren Buffett's words: "Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can't buy what is popular and do well."
"Blindly following stock picks by big investors is not a wise thing to do," he warned investors. "I don't think the government is necessarily interested in hurting growth. The government is interested in growth with controlled inflation."
Text, courtesy: RARE Enterprises and Shailesh J Mehta School of Management, IIT, Bombay
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