Covid-19 crisis over-hyped, India will soon see next bull run: Jhunjhunw
Ace investor Rakesh Jhunjhunw says India is at the begng of the mother of all bull runs and that the go nment would increase expenditure once the lockdown ends.
In an interview with ETNOW, the Big Bull said every bull market tends to be bigger than the previous one.
“Bull markets are Test matches and not 50-over games,” he said, noting that “markets tend to shake you up before a bull run.”
The March selloff, the billionaire investor said, took a nasty toll on investor sentiment and he would not be surprised if the market consolidates from here on.
“The recent market rally,” he said, “is in anticipation of a faster return to normalcy.”
The Big bull said he does not see significant downside from here on and the ongoing bull market should lead to PE and EPS expansion.
He said hardly any market globally has made money in last three years.
“I think the Covid-19 crisis has been blown out of proportion and has created an unnecessary fear psychosis. After all, it’s a flu, and not plague or cancer. I do not think anything will change in the long run. We will travel and go back to restaurants,” he said.
Jhunjhunw, often referred to as India’s own Warren Buffett, said the go nment was waiting to process the Covid-19 dge and would do what is needed going ahead.
Most companies will survive this Covid-19 challenge and s ones will swing to growth quickly post crisis, the Big Bull said. “Some companies will have a fight to fight the revival phase,” he said.
The recent fall in banking stocks was an exp ion of uncertainty, Jhunjhunw said, adding that “the real NPA picture will get clear only around December.”
Jhunjhunw expects financials to remain rangebound. He sees consolidation in NBFCs but does not expect the housing finance sector to be hit badly.
He felt there has been a lot of assumptions over a possible spike in bankruptcies, and said one needs to take ne of the fact that the number of customers availing EMI moratorium at State Bank of India is much lower than the other so-called Big Banks.
Truth Is Bitter
Yes Bull run of Corona ...!!!!!
over-hyped ? Is he brain dead ?
NEVER go by herd Mentality and follow such ADVISE from Market Players or EXPERTS who DO NOT read well any Market and predict such GLORY of the Future when the entire GLOBAL Markets and ECONOMY are ALL at HIGH SEAS and turmoil across the NATIONS
NONSENSE. MASSIVE WORLDWIDE DEPRESSION. PREPARE WELL AND IGNORE THESE NAUTANKIS
Where was this idiot these 2 months?
He said once that nobody can gauge the market now he is predicting.
just imagine what a manipulative move was made when he invested in yes bank at 65 so to trap retail people
His face similar to Tedros of WHOpaan CHEWING PANWALLAH.If he was in USA would be in jail.
or he should be put behind bars bars
Its the few index stocks that may go up to show a fake rally, rest of stocks will remain where they are. Anyway this man will go any length to fool the retail investors. After the disastrous lock down, India will take years to recover.
mother of bull run or father of bear run only time will tell
Mr Feku. For more than 60 days he has seen his favourite stocks crash rock bottom. He's now ho that foolish retail investors will start buying his favourites, and thus hel him recover his huge losses. He comes in TV but never gives any useful advice. He is very vague, really very little to appreciate in what he says.
Warren Buffet, after having sworn that he wouldn't invest again in airlines, bought American airlines, Delta etc... Sold them in the middle of the slump. Shares have rebounded by 40% since. Mr. Jhunjhunw should avoid such comparisons.
This guy has crazy and has invested all his money in the stock market which is down due to covid 19 crisis. His talk about bull run in the stock market is to fool and woo all the small retail investors into the stock market so that the stock prices will increase and he can sell all his stock at lesser loss. Indian stock market will not recover within the next 2 years because of the Covid-19 issue so my sincere advice to all the small retail investors is to stay away from Indian stock market for the next 2 years.
In all scenario, retail investors are trapped. kindly show correct status of economy, not your wishes.
Don't listen to him. He wants retail investors to pour money in stock markets so that he can et at higher prices only to invest later when the markets crash. These guys don't give you advice. Self interest is prime.
This guy has been selling the next bull run since 2016. It never came
retail investors should avoid following them while making investment decisions.
stay away from such fraud people. the bull run we see today is being manipulated by inside traders and foreign investors to trap retail investors and run away with their money. the stock is no more associated with the economy. the economy has already divorced the greedy stock market.