It is still too early and biased to consider myself vindicated since BSE BANKEX has crashed just recently. I had also warned about an impending banking crisis in India in September 2010 although it was too early. Being early is sometimes no different than being wrong.
Tuesday, September 3, 2013
I was way early
On May 7, 2010; I had made a macro call on financial sector in India. Let's compare the results today after three years and four months. BSE BANKEX was trading at 10505.86 at that time while SENSEX was at 16769.11. Today SENSEX ended at 18234.66 while BSE BANKEX ended at 9871.35. That means during the last three years and four months SENSEX gained 8.74% while BSE BANKEX lost 6.04%, an underperformance of around 14.78%.
It is still too early and biased to consider myself vindicated since BSE BANKEX has crashed just recently. I had also warned about an impending banking crisis in India in September 2010 although it was too early. Being early is sometimes no different than being wrong.
It is still too early and biased to consider myself vindicated since BSE BANKEX has crashed just recently. I had also warned about an impending banking crisis in India in September 2010 although it was too early. Being early is sometimes no different than being wrong.
Labels:
Banks,
Sensex Analysis
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