FG in the press

India's stock market is barometer of economic concentration Date - 26 July 2020

For Indian investors, it is time they looked at global markets and diversify as the opportunities across the world are abundant, says SHANKAR SHARMA, vice-chairman & joint managing director at First Global, in an interview with Puneet Wadhwa. Edited excerpts: After the sharp run since March 2020 lows, do you expect the Indian markets to consolidate now? The Indian markets, in fact, have rallied less than some global peers.

Source :- Moneycontrol

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Why fund managers 'storify' investments and why it is risky Date - 23 July 2020

We were having a chat with a Family Office Head the other day. He has large sums invested with us, in India and across the world.

At the end of half an hour, spent discussing the entire Investment landscape, he said, "It's clear that you own some amazing companies in your portfolios: Alkyl Amines, Navin Fluorine, Reliance, Muthoot, Thermo Fisher, Shopify, Logitech, LSE, JD, etcetera. How come I have not heard you speak lyrically, poetically about even one of them?

Source :- Moneycontrol

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Global investing: Sounds lucrative, but it can be costly to venture out blindly Date - 16 July 2020

First things first. Why must you invest globally?
The short answer: For protection and growth of your wealth. For example, over the past 10 years, the Indian market has delivered almost zero returns in dollar terms as against MSCI World, which is up 2.5 times!

Source :- The Economic Times

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Tactical asset allocation is the mantra of global investing Date - 11 July 2020

We follow a tactical asset allocation approach in which we are not exposed to a single market or a single currency or a single asset we diversify to the best opportunities available at that point in time.

Source :- Moneycontrol

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India's PMS industry delivering abysmal returns! Here is why Date - 27 May 2020

There is no easy way to say this. The portfolio management services industry is in a shambles. No, it's broken! It's a tale of promise belied, hopes shattered. The industry was born on the promise of superior performance -- superior to mutual funds, that is.

Source :- Economic Times

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आपके लिए खास चार मंत्र जो फाइनेंशियल ICU में जाने से बचाएंगे Date - 27 May 2020

2020 लगभग सभी भारतीय निवेशकों के लिए बहुत ही कष्टकारी रहा। निवेश की लगभग सभी रणनीतियाँ विफल हुई और अधिकतर निवेशकों को भारी नुकसान का सामना करना पड़ा - चाहे वह स्वयं निवेश कर रहे हो या किसी म्यूच्यूअल फंड या PMS स्कीम के तहत।

Source :- Money Control

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4 thumb rules from Shankar Sharma and Devina Mehra to avoid the financial ICU Date - 23 April 2020

Calendar 2020 has, so far, made almost all Indian investors, big or small, look like really sick patients. Nearly all strategies have been decimated in a market that resembled a ferocious killer dog let loose on a flock of chickens.

Source :- Economic Times

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First Global plans, Kotak among top PMSes that beat market meltdown Date - 13 April 2020

Dalal Street’s top alpha chasers managing money for the wealthy got cleaned-bowled in the March bears hammering.

None of the top portfolio management schemes (PMSes) managed to generate positive returns for the month, the best being a negative (-)3 per cent, data of 141 of these products showed.

Source :- Economic Times

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Am I a Bull? Am I a Bear? No I am a hare Date - 08 April 2020

I have heard the usual tag attached to me: “The Big Bear”.

Of course, like in most things in this world, this monicker is neither accurate nor particularly sensible.

It represents an under-analysed and oversimplified perspective, based largely on two seminal events of the past 20 years.

First: The massive meltdown in Year 2000, of tech stocks in India and worldwide.

Second: The sub-prime precipitated global bear market of 2008.

Source :- Indian Economy & Market

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How not to do international investment diversification Date - 30 March 2020

One of us made a presentation at the Morningstar conference in 2019 which created quite a ripple amongst investors.
The theme of the presentation was that Indian equities had been an extremely disappointing asset class over the last 10, 5, 3 and 1 year time frames.

Source :- MoneyControl

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Quality chemical stocks offer value in this crisis that 10 times worse than 2008 Date - 18 March 2020

Shankar Sharma and Devina Mehra are celebrating their 29th wedding anniversary in New Delhi. They are Indian stock market's first couple and what better time than this dislocated global economic scenario to have a wonderful, laid back lunch with them at Delhi's most fabulous restaurant, The Indian Accent.

Source :- MoneyControl

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Why 2008 now looks like a picnic Date - 16 March 2020

2008 was a chance to see the terrible beauty of this beautiful, dangerous beast called the stock market.
By the middle of 2008, the bear market was in full spate. The mood in Mumbai was maudlin. Brokers stopped buying fund managers after-work drinks. Fund managers started hunting for farm land to retire to.

Source :- Economic Times

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It never makes sense to try to be brave in a bear market Date - 13 March 2020

One should approach it very cautiously. We are in bear market territory and if you go back to all the earlier bear markets, whether it was to do with dotcom, SARS or Asian crisis or 2008 crisis -- bear markets do not get over in a month or two

Source :- ET Now

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From a stealth mode, India is getting into a genuine bear market Date - 13 March 2020

We thought we have seen it all. When 2008 happened, as a student of the market, I was telling somebody that in a lot of ways, the adult in me is dying every day but the child in me is loving every single second of this because this is really an unprecedented move in the markets and unprecedented situation globally. So, I am an optimist in the sense that I see a lot of learnings from this and we will come out of this as investment managers a lot smarter, a lot stronger.

Source :- ET Now

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Economic disruption is unprecedented amid coronavirus Date - 12 March 2020

The Indian markets have plunged into bear territory with the Nifty coming off 22 per cent from its record level in January. Shankar Sharma, co-founder and vice-chairman of trading company First Global, tells Samie Modak that the scale of economic disruption, happening because of coronavirus, is unprecedented and will impact all.

Source :- Business Standard

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Shankar Sharma steers clear of equity, sees recession warning in oil price crash Date - 09 March 2020

NEW DELHI: Crude oil prices will not slip below $30 a barrel unless a recession is in the works, said market veteran Shankar Sharma.
Sharma said he gave up on equities at least a month back to move to other asset classes. "I moved out of equities in the first week of February. The market outlook is not pretty, and one may see further fall going ahead,” Sharma, Joint MD of First Global told ETNOW.

Source :- Economic Times

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There are better trades than equities just now Date - 09 March 2020

I was saying that in terms of strategy, we saw a pretty decent fall globally and India of course coming up, which we implemented in the first week of February. So, while it is obviously an absolute meltdown, what we were seeing was that alternates, away from equities, will do better and that is what you are seeing right now. Gold has done better, fixed income has done better.

Source :- Economic Times

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Markets on edge: Weak economic data, Coronavirus spook investors further Date - 02 March 2020

There seems to be little respite in sight for the markets — which have just seen their worst week in a decade — as the impact of coronavirus has started reflecting in economic data.
Factory activity in China, the global engine of growth, has contracted at the fastest pace on record with China’s official Purchasing Managers’ Index (PMI) falling to a fresh low of 35.7 in February against 50 in January.

Source :- Business Standard

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Black Friday for markets: Sensex falls 1,448 points, Nifty drops 432 points Date - 29 Feb 2020

The global rout triggered by the spread of coronavirus hit the Indian markets hard on Friday, with the benchmark indices suffering their worst single-day decline in five years. Taking a cue from the near 5 per cent fall in the Dow Jones index of the US, the domestic markets opened gap down and witnessed selling pressure throughout the day.

Source :- Business Standard

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A questioning mind is what works best in investing Date - 08 Feb 2020

Oh I am thankful for everything. I would not change even a single thing in my life, not even a single thing. I look back and there is nothing that I would change and I am extremely thankful for what the universe has given me. I am not a religious person. You have seen on my Twitter bio that I do not believe in God or I do not have a temple or a worship and all those things.

Source :- ET Now

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Broader market telling a different story from Sensex, Nifty Date - 23 Dec 2019

Oh I am thankful for everything. I would not change even a single thing in my life, not even a single thing. I look back and there is nothing that I would change and I am extremely thankful for what the universe has given me. I am not a religious person. You have seen on my Twitter bio that I do not believe in God or I do not have a temple or a worship and all those things.

Source :- Business Standard

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Correct asset allocation is 90% of the game, have a foot in every major investible class: Shankar Sharma Date - 23 Oct 2019

Depending on how inclined you are, you must diversify away from a single country, single currency, single asset risk, says Shankar Sharma, Vice Chairman & Jt. MD, First Global. Excerpts from an interview with ETNOW.

Source :- ET Now

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Earnings growth is not your birthright, Shankar Sharma tells Indian investors Date - 18 Sep 2019

In an interview to ET NOW, Sharma said large cap stocks look vastly stretched and that he does not see strong earnings growth. “You are close to nil or 2 per cent growth. Indian investors always assume growth. But growth is not a birthright,� he said.

Source :- ET Now

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Bring back inflation to fast-track growth: Shankar Sharma Date - 18 Sep 2019

Shankar Sharma, Vice Chairman & Joint Managing Director, First Global, expects earnings to decline at the upcoming earnings season for the quarter ending September. In an interview on the sidelines of the Morningstar Investor Conference, Sharma said only domestic factors were hurting the Indian market. He said there were select opportunities in the smallcap space for experienced professionals, but others should stick to opting for mutual funds in this space.

Source :- ET Now

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India underweight stance pays off for ace investor Shankar Sharma Date - 19 Sep 2019

His India portfolio is not exactly in the pink of health, but veteran investor Shankar Sharma is exuberant as he takes the podium at the Morningstar Investment Conference in Mumbai.

Source :- Business Standard

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The First Family of Indian Stock Market Date - 23 July 2019

Without any doubt this is The First Family of Indian Stock Market. The first highly qualified, much envied and most admired Jodi that entered with big dreams when they saw a big potential and untapped market for equity research at a time when it was an unheard word in India.

Source :- Indian Economy & Market

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Narrow Bull Markets Can Last Some Time, But They Always End Badly Date - 05 July 2019

Narrow bull markets can last some time and they can confound logic. But narrow bull markets almost always end badly, because this is a classic that the market starts out broad and then slowly the leadership changes to a ever narrowing set of companies and that is exactly where we are now.

Source :- Economic Times

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A narrow bull mkt does not give much comfort Date - 05 May 2019

High oil prices and the possibility of corporate earnings growth not coming through are the two biggest risks to the Indian equity story, Shankar Sharma, vice-chairman and joint managing director at First Global, tells Puneet Wadhwa. He expects earnings growth in FY20 to be in low single digits.

Source :- Business Standard

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If You Quit Markets Once, There’s no Way to Get Back Date - 12 Dec 2018

Ace investor Shankar Sharma was at his candid best on Friday when he said the last two months of equity selloff had blown a big hole in his bank balance, and he had even thought of leaving the stock market during this phase!

Source :- Economic Times

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Shankar Sharma on smallcap investing & life beyond markets Date - 07 Dec 2018

I always buy trash companies anyway. HDFC Bank was an outlier. So I like to buy companies like IndusInd BankNSE 2.82 % when nobody was interested in IndusInd Bank. That is up 30-40 times in the last 10 years but at that time it was a Hinduja Company and the management was not good. It was trading at book value when all private sector banks were trading at four times book.

Source :- ET Now

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Stock market guru Shankar Sharma decodes small cap meltdown, says fundamentals ‘intact’ Date - 24 July 2018

While the small cap stocks continue to remain under pressure, despite the Sensex fresh record highs, ace small cap investor Shankar Sharma says that the fundamentals in the space are intact. Decoding the bear markets, Shankar Sharma tweeted, “Two types of bear markets: fundamental & technical. Fundamentals in small caps are intact. So what’s caused the meltdown?

Source :- Financial Express

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Nonsense to think a business is dead, they do come back Date - 27 May 2018

We found managements who had made big mistakes in their earlier parts of their lives. Everybody makes mistakes, but as long as the mistakes were genuine and they made amends and corrected their problems, it is time to give them a relook. Because in markets, we kind of get fixated that no, this company had x problem and I will never look at it again.

Source :- ET Now

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Seeking alpha: Where does Shankar Sharma see value in this market Date - 22 May 2018

Here goes the first gem. Investors must be open-minded all the time while investing in markets, says Sharma. The market veteran continued to maintain that smallcap stocks look great with 3-4 years of horizon.

Source :- ET Now

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Stop worrying about politics and the political outcome Date - 13 May 2018

As Karnataka awaits election results and several key states, including Madhya Pradesh and Rajasthan, prepare for Assembly polls later this year ahead of the 2019 general election, Shankar Sharma, vice-chairman and joint managing director, First Global, advises investors to ignore all the noise around the elections.

Source :- Business Standard

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This Couple-preneur Founded India’s First Ever Brokerage Firm Date - 28 March 2018

How often do we hear success stories that deal with poles apart essentialities? Not many, right! Breaking the norm, Devina and Shankar founded India’s first ever brokerage firm, having a London Stock Exchange as well as Nasdaq membership. “People criticized when we started working on this idea and were under confident about this. But eventually risking it off, we proved them wrong.” The couple started their firm back in 1990.

Source :- Entrepreneur

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Smallcap stocks may return up to 40%, unbeaten by any benchmark world over Date - 15 March 2018

Shankar Sharma provided his incisive insight into a number of current issue including markets and economy and even banking scams. He made a big revelation and said that returns from smallcap stocks can hit amazing levels, even reach 40 pct.

Source :- Zee Business

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Shankar Sharma gives away his 100-bagger formula for D-Street Date - 15 March 2018

Shankar Sharma provided his incisive insight into a number of current issue including markets and economy and even banking scams. He made a big revelation and said that returns from smallcap stocks can hit amazing levels, even reach 40 pct.

Source :- ET Now

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Shankar Sharma remains bullish on 2 sectors, here’s why Date - 12 March 2018

It makes more sense today to be a small cap investor than in any other environment because the small cap end of the market is not really exposed to the vagaries of the larger macros governing an economy. Any number of companies which are in small micro segments or even small sector segments, do not really get affected much by interest rates going up or down which could those kind of big cyclical changes affect the large caps more.

Source :- ET Now

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Women of Worth Date - 24 Nov 2017

An IIM-A gold medalist, a seven-year-long stint at Citibank followed by co-founding India’s leading institutional brokerage firm, Devina Mehra’s illustrious career path definitely provides enough material for a blockbuster thriller. First Global, like many other things in the early 1990s, is a baby of liberalisation.

Source :- Outlook Business

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How You can Earn VC-Type Returns from Stock Market Date - 20 Oct 2016

NEW DELHI: Ace investor Shankar Sharma says while luck is key in stock investment and on any given day 80-90 per cent of investing success depends on it, still there are ways to make venture capital-type returns in the stock market.

Source :- Economic Times

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Why Shankar Sharma Wants to Go the Whole Hog on Commodities Date - 19 Apr 2016

I would want to bet on commodities, which is really the space to be in for this year rather than non-commodity or non-cyclical businesses,” said Shankar Sharma, the maverick managing director of First Global.

Source :- Economic Times

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Power Couples Date - 02 Dec 2014

Seldom has the Indian equity market seen a refined research mind like Devina Mehra or an unvarnished market strategist like Shankar Sharma. In the stock market, where herd mentality rules supreme, First Global, the institutional broking house co-founded by Devina and Shankar is an anomaly.

Source :- Outlook Business

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The real trouble with our banks Date - 13 August 2013

Seldom has the Indian equity market seen a refined research mind like Devina Mehra or an unvarnished market strategist like Shankar Sharma. In the stock market, where herd mentality rules supreme, First Global, the institutional broking house co-founded by Devina and Shankar is an anomaly.

Source :- Business Standard

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My crystal ball says… Date - 30 March 2013

THE Indian stockbroking industry is blessed with a colourful past, a confused present and a hopeless future. Broking, at its heart, is a pure commodity business, with little scope for differentiation.

Source :- Financial Chronicle

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You can shut the equity market, India would still be doing fine Date - 31 July 2012

THE Indian stockbroking industry is blessed with a colourful past, a confused present and a hopeless future. Broking, at its heart, is a pure commodity business, with little scope for differentiation.

Source :- DNA India

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Irrelevance of fiscal deficit and other stories Date - 14 March 2012

There are few surer ways of attracting flak than standing in a room full of armchair and sell-side economists and saying “India’s public finances have rarely looked better."

Source :- Mint

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China’s $22 trillion time-bomb Date - 02 March 2012

For years, a wispy, gossamer dream has been spun by economists working for Wall Street investment banks about how China has managed the impossible: high growth with a very low debt-to-GDP ratio. The dream has been so aggressively sold that almost everybody believes it, including editors of this newspaper who have written glowingly about China’s growth, how far ahead it is of India, how India should give up this race once and for all and so on.

Source :- Business Standard

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Growth Woes & RBI Folly Date - 15 Dec 2011

It will eventually all come around. The ‘India growth story’ has not gone away forever, but it has hit a bump on the road. We are already talking of less than 7 per cent GDP growth this year. The problem is that when you break the momentum of growth, it is hard to recreate it.

Source :- Value Research

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India’s best Market Minds Date - 19 March 2010

The sole reason why the stock market is up from 22,500 around election time to about 29,000 now, from a purely fundamental perspective, is that crude oil is at $45. The rest are all non fundamental and emotional factors that people use to analyse the market.

Source :- Outlook Profit

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The first edge Date - 31 Oct 2008

They predicted at the start of the year that the Sensex would fall to 10,000. It did. It’s not the first time that First Global’s Shankar Sharma and Devina Mehra have got it right. In the fast-moving world of equity markets where most investors frequently travel in herds, this husband-wife team prefers treading the lonely path of contrarian calls.

Source :- Outlook Profit

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