“Never before have so many unskilled twenty-four year olds made so much money in so little time as we did this decade (the 1980s) in New York and London.”Thus began Mr Jigar Shah, Director and head of research at ‘K.R. Choksey Shares & Securities’ in his address to the participants of the PGDSM MIT junior batch.
Mr Shah is a prominent personality and he has appeared on various television shows for CNBC, NDTV, Doordarshan on behalf of his organization to share his opinions on the capital market mainly in the equity segment. He is a pioneer in equity research and conducted various chat shows from time to time on Investment Strategy on various financial portals like www.myiris.com and http://www.moneycontrol.com/.
He started by speaking on the history of capital market. He spoke about works by prominent analysts like the ‘Theory of Speculation’ by Louis Bachelier, ‘Portfolio Selection and Diversification’ by Harry Markowitz and the ‘Brownian motion in the Stock market’ by MFM Osborne and how these theories apply to current capital market scenarios.
He shared his ideas on how one’s approach towards analysis of fundamental valuation should be. He explained his ideas on the argument of whether the study of capital markets is an art or science. He also spoke about the significance of the markets and its influence on the society as a whole. He concluded by suggesting some interesting reads like ‘Mega Trends’ by John Naisbit, ‘The alchemy of finance’ by George Soros and ‘Irrational Exuberance’ by Robert Shiller
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