“It is everything rally. So, take Bitcoin, take gold, take stocks, pretty much everything is rallying across the world,” he said. “It is not surprising because look at all the central banks — Bank of England, Bank of Japan, Bank of European Union and, of course, the Federal Reserve — they are all trying to reduce rates for the next couple of years. So, as they say do not fight the Fed. If the rates go down, then eventually assets will inflate.”
Commenting on the peace deal and its broader implications, Singh highlighted the optimism among U.S.-based investors following President Trump’s recent moves toward ending global conflicts. “We were pretty positive when President Trump assumed charge that some of these global wars will eventually come to an end and that is what we see and we are all, we cannot be anything but happy about this outcome,” he said. “I hope this lasts and I am also reasonably sure that even the other wars will also more or less come to an end and that is a good world, so everybody is happy.”
When asked about India’s position amid global developments, Singh remained optimistic about the domestic market’s resilience. “We were in an island even before, even in 2022 when the world took a correction of 25%, Indian markets were still up by 2%,” he pointed out. “Broadly and 23 and 24 were whole different story although US went through a significant correction even that time.”
He believes Indian investors should “stay the course,” noting that domestic liquidity remains strong. “The capital cannot flow outside, so domestic flows have to stay within the country. It works positively most of the years. My sense is the returns from the market, investors will only have to settle down the expectations at around 10% broader level and if you make some effort, then maybe 12%,” Singh added.
He also suggested a balanced asset allocation approach: “We should have now a 70-30 portfolio in India which is 70% equity and 30% in debt, especially more in these times when there is mostly time correction underway and nothing much seems to be happening.” On alternative assets like gold and Bitcoin, Singh was more cautious. “I understand how to value stocks and I understand how to value the bonds. I have no way of telling you how to value a gold or a Bitcoin,” he said, describing them as assets “where beauty lies in the eyes of the beholder.” Referring to the U.S. decision to block Russian assets, Singh said that move triggered “a rally from emerging market central banks to buy gold.” However, he doubts the long-term sustainability of the metal’s rise. “Gold is not an asset which the western world believes in and an asset which is believed only by the emerging markets can go up for a while but it does not have too much legs to stand on beyond a point,” he explained. “We are people of equity and bonds and let us just kind of stick to that.”
As global peace prospects brighten and central banks prepare for rate cuts, Singh’s view reflects a cautious optimism — a belief in steady growth, disciplined allocation, and a focus on fundamentals over speculation.
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