All across Asia the stocks have tumbled to the lowest in three year on financial concerns after US Government’s takeover of American international group (AIG).
Speaking to CNBC-TV18 Puru Saxena, CEO of Puru Saxena Wealth Management says, “I don’t think this banking crisis is over. I think dozens if not hundreds of banks are going to go bust within the next few months.”
Here is a verbatim transcript of the interview with Puru Saxena on CNBC TV18. Also see the accompanying video.
Q: Considering what Warren Buffet had said that this is a once in a century crisis and there is a risk aversion sentiment with investors, where do you see the money coming in now, if at all for Asia?
A: For long time my view has been that we are in a bear market in Asia and all over the world. We got out of our positions in India and all equity markets earlier in the year and at the moment we still feel the risk is to the downside because I don’t think this banking crisis is over. I think dozens if not hundreds of banks are going to go bust within the next few months.
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BE AND MAKE
1 comment:
Sir waiting for your weekly predictions , last week was also lifeless as your call wasnt activated. Plz update it before opening bell.
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