- Wealth PMS
I have an article at Seeking Alpha about how India was the best performer in 2012 till recently, and why it will struggle to retain that position.
Nearly every stock market around the globe has done well in 2012, with the DAX leading the western world pack at +17.3%, and the FTSE at the bottom with just +6.1% (YTD).
….[Cool, glitzy graphs]…
What India has seen has been:
- A rise in forex flows back into the country;a significant chunk of investor capital had exited in 2011 with the rupee falling over 20% against the dollar, but much of that fall has been reversed with the rupee rising nearly 12% in 2012.
- Complete lack of government functioning, after multiple rounds of accusation of corruption and fraud in earlier actions. A few adverse court decisions have reversed earlier decisions, specifically in granting 2G spectrum to telecom companies that went on to raise large amount of money from foreign investors.