Ruchir Sharma Quotes

The old rule of forecasting was to make as many forecasts as possible and publicise the ones you got right. The new rule is to forecast so far in the future, no one will know you got it wrong.

Most gurus and forecasters are willing to give people what they want: exotic reasons to believe that they are in with the smart crowd.

the strongest corporate model is family owned but publicly traded and professionally managed.

The second step is to figure out whether the country has a political leader capable of rallying the popular will behind reform.

The king tells him to keep going back until he can sense the danger in the stillness and the hope in the sunrise. To be fit to rule, the prince must be able to hear that which does not make a sound.

Trump and his supporters didn’t realize it, but in the four years before 2015, net migration from Mexico had fallen to zero, in part because construction jobs in the United States had been harder to find. This dynamic, with falling population growth in the emerging world reducing migration to the developed world, is likely to grow stronger in coming years.

I started tracking billionaire wealth in my home country, India. Back in 2010 anger against the new wealth elite was growing, and my first parsing of the Forbes lists helped explain why. Although India is relatively poor, billionaire wealth had soared to the equivalent of more than 17 per cent of gross domestic product, one of the highest shares in the world, with most of the gains accruing to a narrow set of families in industries prone to crony capitalism.

Frédéric Dard, remarked, “It’s when you are paying your taxes that you realize you can’t afford the salary you earn.

According to Harvard University’s Atlas of Economic Complexity, the key to driving economic growth is not so much individual experts as the combination of expertise required to make complex products: for example, the mix of experience in batteries, liquid crystals, semiconductors, software, metallurgy, and lean manufacturing required to make a smartphone. The fastest way to secure this array of talent is to import it. The same idea applies to more and more fields in an age when even cooking has become culinary science.

During the 1950s and 1960s the biggest emerging markets—China and India—were struggling to grow at all.

once an economic indicator gets too popular, it loses its predictive value.

Only four companies—Proctor & Gamble, General Electric, AT&T, and DuPont—have survived on the Dow Jones index of the top-thirty U.S. industrial stocks since the 1960s.

In the first half of 2011 the difference between the best-performing and the worst-performing major stock markets in the emerging world was just 10 percent, an all-time low and a dangerous indicator of herd behavior.

Aldous Huxley put it, “To travel is to discover that everyone is wrong about other countries.

By the middle of the last decade it seemed that every man and his dog could raise money for emerging markets.

THE OLD RULE OF FORECASTING was to make as many forecasts as possible and publicize the ones you got right.

The new rule is to forecast so far into the future that no one will know you got it wrong.

In 1600 China accounted for more than one-fourth of global GDP, and India accounted for just under a fourth.

the average length of time that American investors, both large and small, hold stocks has been falling for decades, from a peak of sixteen years in the mid-1960s to under four months today.

The total amount of funds flowing into emerging-market stocks grew by 92 percent between 2000 and 2005, and by a staggering 478 percent between 2005 and 2010.

no one can forecast the next century with any credibility and, more important, be held accountable for it.

Gini coefficient, scores

More telling than the burst of speed was the stillness that preceded it. Big

The pandemic has reinforced this trend. As the virus spread, central banks injected $9tn into economies worldwide, aiming to keep the world economy afloat. Much of that stimulus has gone into financial markets, and from there into the net worth of the ultra-rich [my addition: 'and to their cronies in the upper middle class']

The pandemic accelerated many economic and social trends that were already in motion. The billionaire classes grew at a record pace, raising the threat of anti-wealth backlashes. In rich countries these stirrings are as yet focused almost entirely on clawing back wealth through taxation, without addressing the fundamental driver of the market and thus the billionaire boom: easy money pouring out of central banks. Easy money is as popular as higher taxes among progressives, as another way to pay for social programmes. So wealth inequality is likely to continue widening until the monetary spigots are turned off.

The pandemic has reinforced this trend. As the virus spread, central banks injected $9tn into economies worldwide, aiming to keep the world economy afloat. Much of that stimulus has gone into financial markets, and from there into the net worth of the ultra-rich [my addition: "and to their cronies in the upper middle class"]

The pandemic has reinforced this trend. As the virus spread, central banks injected $9tn into economies worldwide, aiming to keep the world economy afloat. Much of that stimulus has gone into financial markets, and from there into the net worth of the ultra-rich [my addition: “and to their cronies in the upper middle class”].

The pandemic has reinforced this trend. As the virus spread, central banks injected $9tn into economies worldwide, aiming to keep the world economy afloat. Much of that stimulus has gone into financial markets, and from there into the net worth of the ultra-rich [my addition: “and to their cronies in the upper middle class”].

After surging for more than three decades, flows of capital reached a historic peak of $9 trillion and a 16 percent share of the global economy in 2007, then declined to $1.2 trillion or 2 percent of the global economy—

Swiss family has a net worth around $685,000, highest in the world by far and twice its Scandinavian peers.