My conversation with Sashi Krishnan for NISM Masterclass

Last month, Sashi Krishnan, Director, National Institute of Securities Markets (NISM) interviewed me for the NISM Masterclass series in a wide ranging conversation that lasted more than an hour. The video of this conversation has now been published at the NISM website.

Some of the issues discussed are listed below along with the approximate time segment of the video where the discussion occurs:

• The 1990s debate in India about the abolition of the Badla system, and its replacement with equity derivatives. (At around 0:03:00)
• The "excessive" size of the Indian equity derivatives market. (At around 0:06:30)
• The lack of an exchange traded interest rate derivative market in India, the failure of Indian institutions to contribute to market development, and the role of speculators in providing liquidity. (At around 0:11:00)
• The growth in India's stock market capitalization and its ratio to GDP. (At around 0:19:30)
• The boom in the IPO market in India in the last year or so. (At around 0:23:00)
• Investment restrictions on insurance companies and pension funds. (At around 0:28:00)
• Mis-selling and buyer beware. (At around 0:30:30)
• Efficient Markets Hypothesis and factor investing. (At around 0:34:00)
• Passive investing. (At around 0:43:45)
• 24/7 securities trading. (At around 0:48:30)
• Bitcoin and the Blockchain. (At around 0:50:00)
• India's potential for 8-10% growth. (At around 0:59:30)
• The relationship between GDP growth and stock market performance. (At around 01:03:00)
• Financial literacy. (At around 01:05:45)

Posted at 9:17 pm IST on Mon, 6 Jan 2025         permanent link

Categories: miscellaneous

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