Jim Rogers knows how to go for the jugular and hit a man in the solar plexus. “Cleaning toilets is wonderful, but as far as building the economy or changing India (goes), he has not done very much” he said implying that NAMO is playing to the gallery and focusing on frivolous issues such as “Swach Bharat” instead of on those that matter.
“I bought shares in India” Jim Rogers added so as to shrewdly clarify that he has his “skin in the game” and is not just a busybody blabbermouth.
“So far, the new government has done nothing but talk … He campaigned for many months saying he knows how to fix India, but he has done very little” …. “I still own Indian shares, and I wonder if I should continue holding, because, after a year of no action, you begin to wonder if anything is going to happen”.
Jim Rogers warmed up on the theme that he had first advanced in February 2015: “… what is all this talk about? I am getting disillusioned about India … I am not sure how long global investors will be patient with India, but I am beginning to lose patience. If investors are still positive, that is good news for me, because I want to be out before them” he said in a sinister tone.
“India is an impossible place. If Modi can’t do it, then I don’t want to remain invested in India. If he can’t save India, no one else can. So I would want to sell” Rogers added.
On the earlier occasion when Jim Rogers launched a similar attack, he had many supporters amongst the intelligentsia. Deepak Parekh, the Chairman of HDFC and so-called “guiding voice” of India, endorsed the charge by stating that “Nothing has changed in the Modi Raj” and that “impatience is creeping in as to why no changes are happening”.
Even Akash Prakash, founder of Amansa Capital, who keeps a diplomatic stance at all times, got restive and blasted NAMO in his editorial. He warned NAMO that foreign investors are “deeply disappointed” and that they are packing their bags to leave the Country. “India is not the only game in town” he warned in a chilling tone.
The latest to join the list of doomsday sayers is Ajay Srivastava of Dimensions Consulting. He launched a savage criticism of NAMO and the RBI and blamed them for the mass exodus of foreign investors. “… the bull market is over … because our hopes were structured around not only the government of India doing various things which it has not done but also the Reserve Bank of India (RBI) taking a very phenomenal stand in respect of the economy …..” Ajay Srivastava thundered.
Now, we have to see where this “mass exodus” of foreign investors leaves us. We have no option but to stay put and hope that NAMO is able to address the disappointment that the intelligentsia is so vociferously complaining about.
Any sane trader will inform you in advance ,about what he/she is going to do next ?Then why give importance to such loose talks ? They are all same ,infact if you are long term investor,then you should grab the opportunity with both hands.If one can’t bear the labour pain ,then one should not get pregnant with hopes here.
Modi was given a clear mandate. The excuse we now hear is that the rajya Sabha is stopping the vision of growth. This is very unfortunate from our leader. Let us wait still and see what happens. Patience is the key to success, so time may favor the optimistic. Dear PM, everyone has hope in what you preached. Practice. That’s all we ask. Nobody will ever question sound judgement and decisions that are pro India. Not matter how they seem today. Indians will however regret lost opportunity due to indecision, and fear of eroding party power. Can we all Indians just please fight for mother India for once. PM you are the only hope.
well if Jim Rogers is not confident of Modi’s ability or intentions he should simply sell the Indian stocks and leave. An investor has to be prepared for all eventualities
SOB MOFO Rogers. He will be on his knees and willing to blow if he gets an opportunity like 2011-2012 again in India in coming years.
Valuations TALK! Everything else is moot!
Someone should lodge an FIR against this Rogers.
Dear Jim,
Do you think that the mandate for Modi is to ensure that foreign investors get huge returns in short term? Modi is putting the entire house in order.
I am confident Jim won’t be able to do 10% of what Modi Govt has done if he were to be the PM. And he need to see all Paramaters not just economy. PM has to look after everything (growth is one of them and there are limitations also). Modi govt has scored full marks in foreign relations, defense and disaster management. Defense and railways are sunrise sectors which will bring huge investment and start the economy running (in long term). He is laying a strong foundation for a long term growth. The debate can be on Long term vs Short term and i guess you would get your answer. You have any idea about actions in coal, iron ore, power, Silent PSU banking reforms, new ways of working etc. For your information, these days we don’t hear files pending at ministries. Modi personally ensures this. As an immediate measure, he has changed the ways of working of Govt. from lethargic, chalta hain attitude to result oriented way of working.
He is putting all efforts to get Land bill & GST bill passed at the earliest. Can’t you see all this?
India has embarked on a a huge transformation journey. It’s country with one of the highest population. Things can’t get so quickly. Even if an organization, where the head of the organization (for eg. you-Jim Rogers) has full autonomy things take few years to show effect on ground. Change doesn’t happen in one day and if it happens then it’s is not a meaningful or worthwhile change.
Start looking below the surface and you would see lot of actions. And if you don’t have faith in this government’s ability then nobody is stopping you to pull the plug. One thing i know is the ones who make noise are the ones who actually don’t want to pull the plug but just threaten.
In a nutshell, investors will get attractive long term returns in Indian equity. Regarding short term, i feel you missed the early stage of the rally and feeling frustrated. Sit quietly and ask yourself what you want and in what timeframe and take a call.
Regards,
Ravi
Let us not worry about fii’s or dii’s but about retail investors. If you see post hope rally, it’s been a year and retail investor / common man has not benefitted, the other day 2 trillion of wealth was wiped out in a day. How can people claim that govt is doing a lot ? If govt would have done a lot, results would have trickled down to our level. Not just fii’s even local corporates have run out of patience. When asking for votes didn’t they claim all could be fixed easily ? Now they are seeking patience, years worth patience is good enough. Other than big talks, Modi, rajnath and jaitley have proved to be utter failure, just a air balloon. Looks like corrupt chiddu was better than them,.
Oustanding results in Salzer Electronics. Vijay Kedia’s magic has worked once again.
Mr narendar modi had raised the expectations very high during the campaign.
Now is the time to manage the expectations.
In politics and in life perceptions are very important.we used to admire him for his dress sense.Now we think he is a vain human being who seems to be spending a lot of his time on getting dressed.One recollects mr patil, a former home minister during nda regime and his ouster due to his frequent dress changes.
His obsession in travelling frequently outside the country shows his priorities.
The increasing perception is that of a man who promises a lot( feku). One wishes that he now gets down to work
Rk
Mr. RK, I can understand ur fascination with UPA and their corrupt cohorts. If u also feel that Modi is fond of travelling and that’s the reason he travels so much than I can say that u don’t understand the basis of foreign relations and India’s position in the world. What Modi has done till date is nothing short of a surprise given so many complexities. It is true that we Indian do’nt deserve such a nice man as our PM. Anyway just to inform you Mr. Pilot was a minister in UPA Govt and not NDA Govt. Pls. get ur facts right. Do’nt be Indian clone of Jim Rogers.
Pls. read Mr. Shivraj Patil in place of Mr. Pilot
Only hope is rate cut by rbi
I concur with the views of Ravi. Mr. Modi’s promise is uplifting India in many aspects, not just brewing profits for FIIs and RIMJIMs. How can a Jim understand the demographics of India. Challenge for the current Govt. is to reverse the entire policy path to revive the economy which benefits every body (not just Corporations) in a sustainable manner. Whether Jim know what the Govt. has done on the supply side for controlling inflation? Whether Jim knows curbing the subsidies impact rural demand in shorter period of time and impact the MNCs. What kind of investor is Jim? Fly over night? Major reforms cannot be implemented within short period of time in the complex environment of India. Guys, there is lot done in one year by Modi Govt. Credit goes to entire cabinet for their focus, dedication and hard work. There is lot to say on what has been achieved. Only one should be willing to look at it. The long term fantastic revival story is intact and Govt. is treading a right path. These same gentleman who couldnot make easy profits now, comes back crawling with a prize to Modi Govt. Wait and watch.
“RIMJIMs”. I like it 😉
Only a congi troll will call Modi feku. These idiots are blind to the damage caused to the country by this foreigners controlled corrupt to the core congress party. As for Jim, he can take a hike for all I care.
These US investors want Indians to be economic slaves.These people have no status to comment on indian economy/Modi which is different from US.They want to control all corporates!
Jim Rogers is an AS**ole, and I lost 1000’s of $$$ listening to his commodity recommendations.
This guy is always against India with MODI or without MODE, Ban this guy from India and drive him out.
Bhs
everybody is entitled to his views …you can not ban anybody for criticizing anybody….but one has to wonder what the agenda of Jim rogers is actually ? I also hear corporate India is getting restless ..but then Gujarat was different and entire India is different …there is UP, Bihar, Bengal, Tamil Nadu…we have 28 states …I just hope people understand this
kindly donot take my stmt as political
I support ed the new gov and though a single party majority can make much bold decisions
one year in 5 years not a small span
if major reforms or decisions taken fine…
left to each and everyone to decide..