As we enter the new year 2023, billionaire Uday Kotak has highlighted three risks for which, according to the banker, it could be if inflation persists for a long time, Russia does something unexpected, China number one drives to become a).
“As it heads into 2023, there are 3 risks we must prepare for: 1. Inflation being prolonged. 2. Russia does something unexpected. 3. China launched a campaign to become number one. Happy 2023 to all.” Uday Kotak said in a tweet on Friday.
Uday Kotak, India’s richest banker, controls Mumbai-based Kotak Mahindra Bank which provides commercial and investment banking, as well as insurance and brokerage services. Uday Kotak started his family trading business in 1985 and then converted it into a bank in 2003. His net worth is over $13.6 billion as of December 30, 2022, according to data from the Bloomberg Billionaires Index.
Last week, the billionaire warned risk-averse investors to be mindful of the power of gravity, saying: “When interest rates are low and central banks are busy printing money, equities can defy gravity. When money is tight.” (QT) gets higher and deposits pay higher rates, gravity kicks back. Every risky investor should be mindful of the power of gravity.”
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