Shankar Sharma is well known for his ability to change his mind depending on the way the wind is blowing but he has now outdone himself, destroying his credibility.
On 14th February 2014, Shankar Sharma said:
“Emerging markets are going to be down. I am 100% sure they are going to be down from wherever they are right now. This includes India. So, absolutely no doubt in my mind that India will be sharply lower in May and of course emerging markets will be at least 10% to 20% lower from where they are right now”.
On that date, the Nifty was at 6048. Today, it is at 7123. The Index is up an incredible 1075 points which is 17.77%. Several large-cap and mid-cap stocks are up several times more than the Index.
How did Shankar Sharma make the irresponsible statement that he was “100% sure” that the markets would be down “at least 10% to 20%”?
To add injury to insult, Shankar Shankar has now surfaced claiming that “India is in great shape and that the Sensex downside is capped”.
In his latest interview to CNBC-TV18 Shankar Sharma states that “our fundamentals are the best of any major economy in the world” and “I don’t think then you are looking at any downside worth the name at all because like I said the economy being left behind is in excellent shape”. “I don’t think you are going to see a 16000-18000 level of index any time soon”.
I think one of the first things Narendra Modi should do on becoming PM is to prosecute Shankar Sharma for misleading investors.
Ye NDA GOVT k against me he isliye ese hi statement dega.
khud boht paise bana liye honge
@Arjun, The last line i liked m uch….
jacobvacha
In case you have followed Shankar Sharma in the last many years, he has always been a negatively biased person – always predicting gloom and doom. These kind of persons do not have their own views – be it personal, professional or expert views. They just ride the boat. Ever doomsayer.
Rubbish. Even the greatest investor can be right maybe at best, 50 percent of the time. Seem like you ar letting your emotions run ahead of practicality
one Shankar was god mahadeva.
who always think about prosperity and growth.
and
another one is this Mr. Shankar.
who always think about …………..
we all know what I mean.
“Hindi me kahu to nasamjh hai”
This mental case must be cured or at least jailed. He is better known for creating un necessary controversy like bollywood stars do regularly.
in financial world such persons should be boycotted.
I have not followed his statements in past but i express deep sympathy for those who believed him.
Kick him off
LOL, does anyone take this idiot seriously ? This windbag is talking to himself as no one pays any attention to the garbage he utters.
Possibly he forgot that election is approaching and in election (general ) time usually market has played well most of the time. This time also, it worked at start. Now, what left is post election good behavior. For few months, it should be good by that habit.