The current rally seen in global markets is more liquidity-driven than recovery-driven, Alok Sama, President and Founder of Baer Capital Partners, believes, as a result of which the S&P 500 could go to as much as 1,100. “However, I don’t buy the global recovery story,” Sama said, in an exclusive interview “The de-leveraging taking place in the West will last three-five years,” he added.
Recoverythat for the global economy would be L-shaped or, at best, U-shaped with a long base, Sama said, adding that earnings growth in countries like India remained a positive. “I’m beginning to subscribe to the decoupling theory again. Results like that of Maruti show that,” he said, adding he was positive on infrastructure and power themes in the country
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