Although I was working for a bank from 2006 I started my career as a wealth manager in 2009. I remember my early days as Wealth manager UPA came to power and Nifty hit upper circuit.During my stint at the bank wealth mgmt from 2009 to 2014 most of the clients were very scared to […]

2 yrs back in June 2022 when Nifty was at 15000 odd levels everyone was talking about macros and today no one is talking about it. I thought of wearing the macro lens and try to understand economic cycles from Keynesian lens and see where India stands today. There are 4 phase in an Economic […]

5 yrs after writing a bullish post calling for a big broad based upmove I want to now play the devil’s advocate by creating a counter narrative to the prevailing narrative across sectors. Please note this is not my market view, I am playing the devil’s advocate here. What markets will do will probably lie […]

For a long time I wanted to write my views on Financial Media. This week I read a blog by one of the best fund managers in the world Howard Marks about ‘Expert Opinion’ & took inspiration from it to write this blog. I urge you to read the original blog from this link. https://www.oaktreecapital.com/insights/howard-marks-memos. It’s […]

We can classify sectors in to broadly two categories: Cyclicals and Defensives. Cyclicals are those that are directly impacted by economic growth and include capital intensive industries. Cyclicals would include Metals, Cement, Construction, Corporate lending banks, Capital Goods/Engineering, Hotels, Textiles, Telecom, Oil & Gas, etc. . Defensives sector would include FMCG, Auto, Consumer durables, Retailing, […]

We know bull markets are marked by broad-based upmove and bear markets see narrowing of the market to a handful of bluechip stocks. The image below highlights exactly this with weight of top 10 Nifty in Nifty 50 index. In the past whenever the weight of top 10 stocks in Nifty has come close to […]