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BRIC by BRIC Ajit Dayal, Director, Equitymaster Agora India

BRIC by BRIC Ajit Dayal, Director, Equitymaster Agora India. In 1999, they said “Buy NASDAQ”. Source: Quantum Advisors, Bloomberg | As on 30 th June 2009. Technology: Infosys, IBM. Souce: Bloomberg. Media: Zee, News Corp. Souce: Bloomberg. Financials: HDFC, Wells Fargo. Souce: Bloomberg.

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BRIC by BRIC Ajit Dayal, Director, Equitymaster Agora India

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  1. BRIC by BRIC Ajit Dayal, Director, Equitymaster Agora India

  2. In 1999, they said “Buy NASDAQ” Source: Quantum Advisors, Bloomberg | As on 30th June 2009 Equitymaster Agora India

  3. Technology: Infosys, IBM Souce: Bloomberg Equitymaster Agora India

  4. Media: Zee, News Corp Souce: Bloomberg Equitymaster Agora India

  5. Financials: HDFC, Wells Fargo Souce: Bloomberg Equitymaster Agora India

  6. Long-term investment case for BRIC’s • Economic reforms in all BRIC economies • By 2020, 5 large economies in the world: 2 from BRIC Source: Goldman Sachs, & MSCI Equitymaster Agora India

  7. Time for a reversal ? Equitymaster Agora India

  8. “Profit is the difference between reality and perception” Equitymaster Agora India

  9. Their strengths… Source: Thomson Reuters, Datastream/www.cia.gov Equitymaster Agora India

  10. Their weakness… Source: Thomson Reuters, Datastream/www.cia.gov Equitymaster Agora India

  11. India: Half full or half empty? Equitymaster Agora India

  12. Solid GDP growth…despite coalition governments GDP Growth rate across 8 governments has been 6.2% p.a. over the past 28 years – will this 9th government deliver 6.5%? 9 governments \ * 6 coalition government | Equitymaster Agora India

  13. Sensex Index ; (INR/US$) Souce: Bloomberg Equitymaster Agora India

  14. India elections: no chads, no hanging chads, no hangings! Equitymaster Agora India

  15. Crystal balls see India from the outside Equitymaster Agora India

  16. India not that coupled to global GDP: “cost-check” your house! Lower global links Source: Bloomberg, RBI Equitymaster Agora India

  17. The coupling is in foreign money flows: India Source: Sebi.gov.in: As on June 30, 2009 Equitymaster Agora India

  18. Capital flows: BRICs hit a wall… Source: Bloomberg ; as on June 30, 2009 Equitymaster Agora India

  19. …but BRICs are recovering Source: Bloomberg: As on June 30, 2009 Equitymaster Agora India

  20. NASDAQ or BRIC • BRIC is not a theme – it is a reality • Over the past decade, BRIC gained global clout • But BRIC will not rule the world – for decades… • Nor should companies in the BRIC dominate your portfolio • Significant social and political uncertainty + many crooks • But ignoring BRIC means surrendering long term returns Equitymaster Agora India

  21. Fasten your seat belts…enjoy the ride! Yourprofit = underlying economicearnings(find the winners) + volatilecapital flowsthat move to BRIC Equitymaster Agora India

  22. Thank you Obrigado 谢谢 (xie xie) धनयवद (dhanya-vaad) Спасибо (spassiba) Equitymaster Agora India

  23. Disclaimer These materials and the information contained herein are provided by Equitymaster Agora Research Private Limited (hereinafter collective referred as “Equitymaster”) and are intended to provide general information on a particular subject or subjects and are not an exhaustive treatment of such subject(s). Accordingly, the information in these materials is not intended to constitute investment, consulting, or other professional advice or services. The information is not intended to be relied upon as the sole basis for any decision which may affect you or your business. Before making any decision or taking any action that might affect your personal finances or business, you should consult a qualified professional adviser. None of Equitymaster, or its associates, shall be responsible for any loss whatsoever sustained by any person, who relies on these materials and the information contained therein. These materials and the information contained therein are provided on “As is basis”, and Equitymaster makes no express or implied representations or warranties regarding these materials or the information contained therein. Without limiting the foregoing, Equitymaster does not warrant that the materials or information contained therein will be error-free or will meet any particular criteria of performance or quality. Equitymaster expressly disclaims all implied warranties, including, without limitation, warranties of merchantability, title, fitness for a particular purpose, non-infringement, compatibility, security, and accuracy. Your use of these materials and information contained therein is at your own risk, and you assume full responsibility and risk of loss resulting from the use thereof. Equitymaster, or its associates will not be liable for any special, indirect, incidental, consequential, or punitive damages or any other damages whatsoever, whether in an action of contract, statute, tort (including, without limitation, negligence), or otherwise, relating to the use of these materials or the information contained therein. If any of the foregoing is not fully enforceable for any reason, the remainder shall nonetheless continue to apply. Equitymaster Agora India

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