Tuesday, July 01, 2008


1H08 - Indian markets down 35%. Amazing. What a turn from January 2008.

CY2Q is often not the best earnings period - the adage "sell in May and go away" has proven very true this year.

This is increasingly becoming one of the most challenging times to invest in the last 15 years. We have the credit crunch - which demands lower interest rates, and inflation - which demands higher. There have been a number of "black swan" events in the last one year, and they are by no means over.

Best thing is to do nothing, unless one has a really compelling idea. Take vacation for 6 months. Inflation is not tamed that easily.

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