The talk, titled, "Value Investing Frameworks and Business Analytics" was delivered by Prof. Greenwald to an audience of 220 guests from the Indian investment community at Hotel Taj President in Mumbai.
Enrin Bellissimo, Director, Heilbrunn Center for Graham & Dodd Investing, and her colleague, Indira Almadi, gave us their enormous co-operation in organizing this function. Many thanks to both! Many of my ex-students helped me as well - I thank all of you.
Its interesting to know that Prof. Greenwald said that the Indian markets were over valued and due for a correction on the very day the market hit its all time high. On 8 Jan, Nifty closed at 6,287.85 points. As of the date of this writing, Nifty sands at 4,754.20. Thats a decline of 24%.
Since Prof. Greewald's talk, Nifty Midcap 50 Index has declined by 39%.
Over the same period, Nifty's P/E has fallen from 28 to 21 and Nifty Midcap 50's P/E has fallen from 24 to 14.
Prof Greenwald's presentation can be seen from here. (Uploaded with permission).
Here are a few photographs covering the function:
1 comment:
Prof. Bakshi - Thank you for sharing this. I am surprised this event wasn't published in the papers (if it was I didn't see it).
Is it possible for you to share an audio/video clip of Prof. Greenwald's session? Would love to have your session also put up.
Joe
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