Just when stocks are seen as invincible, we should worry, warns Akash Prakash.
Indian IT giants are outstanding companies with great management teams, but they have been held hostage by their past success.
Indian companies seem to be trailing behind. They will have to catch up by reskilling the workforce and ramping up investments.
While demonetisation will benefit the organised sector, the government has to find a way to channel the upcoming revenue buoyancy towards job creation to balance out job losses in the informal sector, says Akash Prakash.
Determining the direction of the dollar in Trump's America will be more critical for asset allocation than getting your call on interest rates right, says Akash Prakash.
A new CBDT directive actively makes India-dedicated funds comparatively unattractive for institutional investors. It makes no sense, says Akash Prakash.
Elliott Capital's letter to Cognizant, detailing how the latter can reinvent itself, has many lessons for its India-listed peers like TCS and Infosys, says Akash Prakash.
There are good reasons to believe that India is at the start of a long period of growth for equities.
Most analysts had predicted a decline in real estate fixed asset investment.
If the economy gains momentum, that is a big positive for markets, given the strong macro of low inflation, falling rates, and a stable rupee, says Akash Prakash.
The clean-up process begun by the Reserve Bank of India runs the risk of spiralling out of control.
As for structural reform, there are signs if one looks hard enough.
Even US equities are now back to end-2014 levels.
Emissions would still keep rising till 2030, and the path towards global warming would improve to 2.7c.
It is by now quite clear that in all likelihood the US Federal Reserve will hike interest rates in its next meeting in mid-December.
Expectations were probably too high from Narendra Modi.
The Chinese economy is not collapsing, it is shifting to different growth drivers which the old metrics used to judge China do not pick up.
China's domestic debt is a major concern.
Money is being released and the government knows it will have to front-run private investment.
History would indicate that a recession is not that far off.
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