Samir Arora of Helios Capital is one of those fund managers who irritates the hell out of me.
No surprises, as I was one of the unfortunate investors in his Alliance New Millennium Fund.Like all naive investors, I invested at the FPO at 10 Rs/share.I exited a few years later at around 4 Rs !!
Now, I find our man on the cover of Outlook Business with a tongue in cheek article titled “Do Not Invest in Indian Equities”. In an article full of hindsight bias, he quotes various stocks which have gone up by 200%-600% since Dec 2008.Well, the timing of the month and year is significant as that was when the markets had more or less bottomed out.Hindsight bias, again !!
Its interesting to see how his own favorite stock fared since then.His favorite stock is Arshiya International as quoted in this interview to CNBC in Sept 2011 “The company that we like very much is Arshiya International , which owns India’s first free trade warehouse zone and also the second free trade warehouse zone. This a very strong and completely new business, which India needed since long time.”
Now the markets have rallied big time since then but Arshiya is still at multi year lows.Today it hit the lower circuit with no takers for its stock.
Maybe Samir Arora should take his own advice seriously and stay away from Indian equities !