Madhu Soman of Reuters writes well – and is a keen watcher of equity markets and real estate (especially in Wadala and Kerala!). He had written an article for REuters – on 16th October, 2008 – and it was subsequently carried in ET.Here are the first 2 paras where Shankar Sharma….read on!
“The world of equities seems to have opted for a bargain-basement sale. The BSE Sensex which scaled the dizzy heights of 21,000 points in January 2008 is today testing 10,000 and nobody is sure if the bottom has been found.
“Nowhere in the world are we close to a bottom. Put your money in a safe bank at 9 pct and forget about the stock market for the next two years,” Shankar Sharma, Joint Managing Director of First Global, told Reuters.
If that’s the case, one wonders if the response pattern will change to the Reuters Money question – Will the BSE Sensex dip below 10,000?
Well at that stage Madhu decided to quote me too. As usual I said “I do not know”. Being the great journo that he is he said “As my good friend and former NSE member PV Subramanyam says “these so called experts on TV are only looking at a teleprompter and not a crystal ball.” Subbu’s advice: “Stay the course, there’s no point in cutting losses now and neither will you gain anything by panicking.”
Luckily for me, I keep saying largely motherhood statements like ‘start early’, ‘spend less than you earn’, ‘pay yourself before you pay for your kids’ ‘Equity investing is boring, if you are having fun, check your returns in excel”. …..these do not become stale, so ….I am fine I guess!! ‘Market timing is risky’ ….
Thank you Madhu. Thank you Reuters.
Post Footer automatically generated by Add Post Footer Plugin for wordpress.