Shankar Sharma, the ace investor, who has been described by some as the contrarian investor, someone who tends to fly in the face of the larger flow of the market.
Let Them Suffer
In a recent interaction with India Today network, Sharma shared his thoughts on the current market volatility and the overall decline in the progress of the market.He placed particular emphasis on the apparent drop or withdrawal of new investors from SIPs or Systematic Investment Plans.
Digging into his decades of experience in the market, Shankar Sharma said, “Stock markets — this is the way the game works. Like I said earlier, let them also suffer what we have suffered over 35 years”
He emphasised the nature of the equity markets, and how it is filled with crests and troughs.
Talking about the current fall in markets, he said to India Today, “I’ve been lectured to by many small investors, told that I don’t know anything about the market. This time, it’s different. Then let them suffer. They will have cancellations of SIPs.”
These comments come at a time when the markets, barring the past trading sessions on March 5 and 6, a time when the indices collectively made gains of close to 2 per cent, have had a relatively underwhelming time.
The Market In Decline
In the past six months of trade, the Sensex has lost 9.09 per cent or a staggering 7,415.54 points, taking the overall value of the index to 74,144.00. The Nifty index also has a similar story, falling to historic lows. The index has dropped by 9.67 per cent or 2,410.70 points in 6 months, taking the overall value to 22,525.70.
Previously, while talking about the overall ‘degrowth’ experienced in the market, Zerodha CEO Nithin Kamath, suggested that investors should stay put and not panic.
This comes at a time, when new investors are wary of the turbulent circumstance in the markets.
