Shankar Sharma has found his ‘macro trade of the year’. Read here

Market


Shankar Sharma, the vice-chairman and joint managing director of First Global stockbroking, who is known for his smart investment choices tweeted on Friday that he has found his “macro trade of the year”.

Sharma wrote, “I’ve found my macro trade of the Year: Turkey. Their manufacturing is booming, way ahead of China & India. Their goods are everywhere. Tourism incl Medical, is off the charts. Tech is amazing. Sentiment is very negative. Makes for a great contra macro bet. Am betting big.”

A contra fund’s investing strategy is what distinguishes it from other funds. The manager of a contra fund wagers against the current market trends by purchasing assets that are either performing poorly or experiencing a decline at that particular moment.

According to Sharma, Turkey’s manufacturing is booming way ahead of India and China and trade, tourism and tech are flourishing well which makes it an ideal destination for investment.

Forbes has called Sharma, ‘The Alchemist of the Dalal Street”. He is known for investment choices as he has an eye that is quick to spot seemingly junk shares that eventually turn out to be gold.

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