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He's brilliant. When someone explains why he's saying what he's saying speaks volumes of his research and understanding.
The only thing that I'd disagree with him is that 'US markets will underperform India's'.
While that can happen in 20 yrs, but I don't see that happening in the next 5-10. The reasons are quite simple.
1. Many US companies are global. Google, Amzn, Meta are not doing billions of dollars of capex for nothing. If India and the rest of the world grows, their pie of earnings from international consumers inc.
2. Ignoring the semi-conductor and memory related stocks (AMD, NVDA, Micron, Intel, etc ), most of the US market has underperformed in the last 4 yrs or so. The NASDAQ has been mostly driven by these. So, while I see a rotation of capital, I don't necessarily see the capital largely flowing out of US (be it in other portions of tech or consumer stocks).
3. Except for financials and certain commodities, Indian mkts are still over-priced. You look at hotels, FMCG, construction, even transformers and power - everything is overpriced.
