Sunday, June 28, 2009

Can one believe this? SS says 21k is possible in 6 months..!......

Q: Let me present this scenario to you, which is different from what you are suggesting and see what probability you attach to thatthe market corrects but then consolidates between 12,500-15,000 for few weeks, which is just maybe 15-20% lower from here and then eventually, over the next six months, goes on to make a new high, which is more than 21,000?

Sharma: Absolutely possible. I have been around too long to say that its not possible, that it cannot happen. I would even go to the extent of saying that Jeremy Grantham (veteran investor and founder of GMO) wrote an interesting thing and which is that the amount of money that has been thrown at the so-called problem that may or may not move the GDP but thats enough to move stock market. That is because, in a stock market, it's barely 30 stocks you need to move for the market to look extremely good. Thats probably what the phenomenon is across the world, particularly in emerging markets, given the fact that the dollar does look extremely weak in the short run. There is nothing to suggest that why we cant get at least close to the highs if not absolutely make a new high whether we sustain those highs or not, thats another matter but you have a fair shot at it now. It cant be ruled out.

My Comments:
He never said so in his any past interview this ever, see how he is showing his true colors.....those who are thinking of market has not the legs to cross 4700 nifty or feels that this trend is not going to last long needs to read SS interview at moneycontrol.........Afterall he is a bear and he is doing 360 digree vault face.........I have never seen such a person who is so learned can take a U turn like this....

Now he is ready to believe any probability.......I donno what to tell about him .
What I wants to ask SS is , didn't he read Jeremy Grantham before his interview?How come he give such a jutification quoting Jeremy Grantham?He categorically stated that in no way our market can go beyond 11500 or 12500 and maximum upto 16k and now he says he do not want to look at the fundamentals.It is the liquidity that brings the market up but then why he said that for atleast 4-5 yrs our market cannot see a new high and he was so sure about all sorts of reasons.Even Ramesh Damani was saying that we will definately not see a new high for 4-5 yrs but RD atleast admits that he read the market wrongly while SS do not confess anything.
SS is surpirsed by the V shape recovery ....he is overawed by the strength of our market as it has come with vol.Though the prices are way below the high and hence SS is suggesting to buy Midcaps which he never was fond of.I remember very clearly how he was speaking time and again on Ril, SBI, L&T that they will go much below  the level they made in Oct 08 or Mar 09! I think SEBI should debar Mr Shankar Sharma from speaking anything on Media.

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