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Ajit Dayal Tells You What to Do About the 'Misery' of India in This Emergency Webinar
Mumbai, India, 02.09.2013 - The falling rupee, burgeoning budget deficit, government inaction, and the dim global financial outlook, all these seem to have crippled the economic condition of India. In fact, according to Japanese brokerage Nomura, India's misery index seems to be rising already. The rising inflation rate and an unstoppable unemployment rate are causing the rise of the red line in the graph below.
In an effort to get a better understanding of the situation, we recently recorded an emergency webinar with Mr. Ajit Dayal, founder of Equitymaster, PersonalFn and Quantum Mutual Fund.
In this 1-hour long websummit, Ajit shares his opinions about the present stock market meltdown, Indian economic crisis, gold investment, asset allocation and purpose of equity, the Food Security Bill and so on. In short, Ajit talks about everything that you are probably questioning about and that is affecting India right now.
Regarding the GDP growth, he seemed "worried about the distribution of the GDP, as opposed to the actual number" (19.53). We agree that the corruption, resulting in income distribution disparity, is perhaps a huge factor causing the economic meltdown in India.
He also went on to explain disruptive effect of the FII flow in India, ultimately disturbing the Indian stock market. He remarked "that we have not tried to cushion ourselves from what is going to happen and has been happening in the world markets by allowing domestics to invest in shares." (21.00)
To the average investor, he suggested to "have a mix of things" (32.19), since "all asset classes don't earn you money in the same year" (3.48). He advised to invest in good managements, especially in companies with little external debt.
He also went on to talk about how the whole system is rather weak right now, and we have to stand up for what is right. He complained that "Indian corporates, as always, have been pampered, have been spoiled, and have gamed the system if you will..."
Finally, he concluded with the fact that enemy is not Pakistan or China but is within India, and we have to take the onus on ourselves to correct the present Indian economic meltdown we are facing.
Hosted by Rahul Goel, CEO of Equitymaster, coupled with selected questions from the readers being directly answered by Mr. Dayal, this interview sheds further light on what we are facing right now.
Click here to access the full websummit with Ajit Dayal right now.
Equitymaster is a Mumbai, India-based independent equity research initiative that is committed to empowering the individual investor with honest and unbiased opinions on investing in stocks so that they can achieve their life's goals.
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