Ambit’s Somersault

September 10,2015

Saurabh Mukerjea,Head of Institutional Research,Ambit:

“We are looking at the propsect of Sensex reaching 22,000 by year end”

September 18,2015

Andrew Holland,CEO,Ambit Investment Advisors:

“I expect the Nifty to trade close to 10,000 by year end”


8 replies on “Ambit’s Somersault”

Use what ever skills you have on every given opportunities……
The woods would be so silent if only the best birds sang in them!

The views expressed are expressed in their personal capacities and do not in any way express that of Ambit.

In any eventuality, Ambit is winner.
If market goes up, Andrew is right.
If market goes down, Saurabh is right.
Ignore both, and investor is right 🙂


Is this a case of CEO overruling his sector expert, or is this a case for giving two scenarios of which one could be nearer truth? Interesting if both Sensex and Nifty dance up and down for 3 months and when curtains are drawn on 2015, come back and rest where they are today (proving both wrong)!!

These are two separate business divisions in Ambit. Andrew heads the wealth management business, whereas Saurabh is part of the institutional equities business.

They function independently of each other and can have different views. Its a very simplistic argument for the media to make.

For example, talking heads on TV might be from various Goldman department – at times from asset mngt business – which is equivalent of mutual funds, at times from private bank or wealth management, at times from the institutional equities, at times from their Private Equity/Alternate assets division, at times the economists, at times people from commodities trading and so on.

Journalists will lump them all together and say – oh Goldman said this !! for them its no different. Goldman is not a person, so goldman didnt really say anything. Its some person in some dept reflecting the view in their side of the business or maybe even their personal views, as at times that division may not as such have an official view.

Its like Chanda Kochar saying oh we see no improvement, and then lets say head of ICICI Pru MF saying oh we see meaningful improvement on ground, and ICICI pru life insurance saying oh we see big changes happening on ground. Would it be fair to say oh one day ICICI says this and then the next day they say that?

Isnt this the normal way analysts make predictions? Predict will go up when it goes up, down when it goes down. No accountability no liability!

It only suggests how the advises from even a reputed firm like Ambit should be taken – both ways and confusing.

Saurabh is loosing touch. His forcast on real estate was laughable. He wrote in his book that he want to shift to a bigger house. Was that the motive. Though normally a sensible guy but going overboard every now and then.

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