Investors are in desperate need of good news stories. Although the global recovery is still (probably) on track, most investors I talk to express a palpable sense of anxiety.
These wise folk may be slowly, but steadily, rotating into equities out of bonds. Yet this shift is happening despite concerns about what the Fed might do next, worries about Japan’s faltering recovery, and the eurozone’s gentle drift into austerity. Looking to emerging markets, China still seems to be feeling its way through a painful readjustment, while Brazil starts to slowly deflate after the World Cup. Many investors have alighted on India as the good news story we all need. And it is certainly true Indian equities have had a strong first half – the local SENSEX index hit all tim...
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