Yes, rightly said by NTT in his book we human tend overestimate our skill, especially in the matter of judgment. Crisis of Greece has been started to affecting our equity market badly. Now in my view Nifty or any Asian market is going to underperform in the long term. The solid reason is, though our underline economy is strong, but at the end of the day demand of our asset class determines their price. And demand not only comes through domestic side, but in the globalized world money chases cheaper assets. The debacle in euro has created many opportunities to smart money, whether in short term speculation or long term investments in the Eurozone. The calculation is simple in euro zone all are weak but not Germany and France. Smart money has spotted the opportunity to invest in their asset class, because now they are cheaper due to huge depreciation of euro. Hot money is working there in two ways in speculation & investments both. Hence we are watching the pull out of FII's money from Indian market. Simply because now they are more risk averse, looking for better opportunity (Read Euro zone) and debacle in china's economy is about to happen. The asset bubble that Chinese has created is in matter of time of will bust whether suddenly or slowly. Long term bear market is set, definitely for about a year. rranjan27@gmail.com
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