Simhavalokana 2024: Mr. Market’s 10 lessons in the year gone by
Live MintMumbai: The Sanskrit language has a fascinating lexicon. Mean reversion is never automatic In the ‘risks’ section of their India reports, equity strategists have a chart showing the price-to-earnings premium of India over other emerging markets. Climate change versus monetary policy Many emerging market economists began the year with expectations of sizable interest rate cuts. Data from IIFL Equities analyses the performance of IPOs that listed during the five years from April 2019 till March 2024 and concludes that on average, if you bought the newly listed shares on the day after listing, you underperformed the respective sectoral indices by over 1% and if the IPO involved a selling strategic investor, the underperformance widened to almost 5%. It is perplexing that this has happened in the backdrop of exceptionally strong earnings growth for corporate India, a stable macro setting and robust domestic flows leading to strong market performance.