Shankar Sharma, Vice President and Joint Managing Director of First Global Stockbroking, known for his smart investment choices, tweeted on Friday that he has found his “macro trade of the year”.
Sharma wrote, “I have got my Macro Trade of the Year: Turkey. Their manufacture is far ahead of China and India. His goods are everywhere. Medical, including tourism, is off the charts. Tech is amazing. The sentiment is very negative. Makes for a great Contra Macro bet. I’m betting big.”
The investment strategy of a Contra Fund is what sets it apart from other funds. The manager of a contra fund bets against the current market trends by buying assets that are either underperforming or experiencing a decline at that particular moment.
According to Sharma, Turkey’s manufacturing is far ahead of India and China and trade, tourism and technology are flourishing well which makes it an ideal destination for investment.
Forbes calls Sharma ‘The Alchemist of the Dalal Street’ investment options Because he has an eye that quickly finds stocks of junk that eventually turn into gold.
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