"While most funds have been dumping stocks in India's sliding market, billionaire global investor George Soros has turned contrarian on India," says international expert Nick Vardy who now suggests "bottom fishing" in India.
"According to the Times of India, the Hungarian born Soros -- who since last August is again actively managing his famed Quantum fund -- recently went on a buying spree in India making investments valued at $140 million in a wide range of Indian companies....
..."According to Lipper Analytics, three India-focused funds rank among the 10 worst-performing funds globally in May. Stories about India's much vaunted middle class and the country's outsourcing prowess have evaporated from the global financial press virtually overnight....MORE
Monday, July 28, 2008
Bottom fishing in India: In the footsteps of George Soros