Alternatives to oil are coming up. In the long run, it is not going to be as bleak as people are predicting but surely consumption of fuel by automobile sector is going to go down.
When people talk to you in such glowing terms, that is the time to be very, very alert because the worst of the mistakes are made in the best of the times.
You can’t make money on borrowed knowledge. If following Rakesh Jhunjhunwala was all it took to make money, a lot more people would be rich. It requires patience and you learn from mistakes.
In my 25-30 years of experience in the markets, just as you cannot have a good relationship with a woman by bullying her, you cannot have a good relationship with the market by trying to bully it or say that you are the king. Market is king.
You cannot artificially curb gold imports beyond a point. But I am hopeful it will happen because the rupee depreciation should by itself lead to a large growth in exports and some compression of imports.
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