The typical conditions for the birth of a bull market are here: you have a changed country, you have a deep fall in growth and everybody is perplexed by the rise of stocks.
My personal opinion is that when the economy does well, anybody who has a deposit franchise will survive and grow because how can you lend if you do not have a deposit franchise?
The journey to limit crony capitalism: It’s a journey, it’s not a destination. Slowly but surely, in India, crony capitalism has died and governance is what brings about real growth.
I reflected a lot, I thought a lot on my 50th birthday. It has been one of the most important birthdays in my life, not in terms of celebration but in terms of retrospect.
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 know, a balance-sheet is like a bikini, it shows more but it hides what is vital. I learnt to read a balance sheet and then I got fascinated by stocks.
