In the spirit of spotting mistakes, improving processes and hoping to become better portfolio helmsmen, Amay Hattangadi and Swanand Kelkar take a reflective look at the year gone by.
The two executive directors at Morgan Stanley Investment Management stay away from the tribe of crystal ball gazers attempting to make predictions for 2016.--
1) Sometimes the party is behind closed doors.
2) Fixed deposit is also an asset class.
3) Good macro does not equal good market.
4) Patience is a virtue.
5) There could always be exceptions.
PS: These five points have been extracted from a much more extended report titled "Simhavalokana 2015". Simhavalokana is a Sanskrit term to denote the retrospective gaze of a lion. It is said that as the lion traverses some distance in the jungle, he looks back to examine the path he chose and how he covered that distance.
