Morgan Stanley’s Ruchir Sharma has a warning of sorts. Speaking to CNBC-TV18, he stressed that the probability of a recession increases to 60 percent every time the S&P 500 falls 20 percent from its peak levels.
I think the de-globalisation is just going to be the really big theme of this decade. So you want to sort of be in economies and in markets which are just not going to be that dependent on the rest of the world. Also we have new oil order, I think that that is going to last for a while in terms of the fact that the price of oil just keeps settling at lower and lower levels and so you want to be more with the oil importing countries, you want to be in countries with large domestic markets and beneficiaries of de-globalisation.