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What was that again?
“Equity markets should not occupy more than 20-30% of your liquid net worth because in the long run equities will not give much returns and it’s better to have a time horizon of two years, and no more, in this game.”-Shankar Sharma, CEO of brokerage First Global in an interview
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Another one bites the dust
There was an article in the Indian Express which mentioned that 6000 sub-brokers shut down shop this year.
Now there is an article in ET about how well known broker Shankar Sharma is bidding goodbye to Dalal Street.
Brokers in India are fast becoming an endangered species…thanks to lackluster volumes,abolition of entry loads,increasing compliance ,rising employee costs and possibly the biggest reason of all-customer distrust.
Its fairly clear we are treading the US path here…small mom and pop shops will close down and the only survivors will be the discount brokerages and the big players.
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What was that again?
“I am not watching the audience, I am watching my game, not playing for the gallery.I am very interested and very aggressive to acquire land, but aggression can’t be jumping off the cliff, it has to be backed with caution and preparation. After I jump I want to land on my feet not on my head.”-Vikas Oberoi, Promoter of Oberoi Realty said in an interview to Bloomberg
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