Renuka Jain

Swanand Kelkar is Managing Director at Morgan Stanley Investment Management. Markets In 2018: Not A Year For Doubling Down Simhavalokana is a Sanskrit term to denote the retrospective gaze of a lion. It is said that as the lion traverses some distance in the jungle, he looks back to examine the path he chose and how he covered that distance. It is that time of the year again when things thankfully begin to slow down. Many times this tumultuous year, I have daydreamed of the serenity that the second half of December brings and wished it would come sooner. From trade wars to crude price volatility to liquidity squeezes, this year was a handful, making investors feel like Kareena Kapoor in Jab We Met* when during a very eventful night she says “Please Babaji ab to hadd paar ho chuki hai, ab iss raat mein koi excitement mat dena, boring bana do ji ab iss raat ko please”. Naturally, a year like 2018 packs in a lot of learning, some timely reminders of old truths and some new...