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It is true that the <a href="http://www.businessinsider.in/searchresult.cms?query=growth+trajectory+">growth trajectory</a> for India is positive and the long-term story is undoubtedly good. Also, there is no doubt that India is going to be one of the fastest growing countries in the world, however, it cannot be the growth engine of the world.<br />
 <br /> <keyword id="2422554" type="PERSON" weightage="40" keywordseo="Mihir-Worah">Mihir Worah</keyword>, CIO, Asset Allocation, <keyword id="142202" type="COMPANY" weightage="80" keywordseo="PIMCO">PIMCO</keyword>, is of the opinion that India is still too small an economy and it is not a China, or United States. “India can be is a regional superpower, it can be one of the fastest growing countries in the world but it is not the growth engine," he added.<br />
 <br />
"India is going to grow at 7% plus rate. It has well-known <a href="http://www.businessinsider.in/searchresult.cms?query=demographic+dividend">demographic dividend</a>, the youngest country in the world, and so there is expanding workforce,” he said.<br />
 <br />
The government wants to speed up economic growth to hit the double-digit mark quickly, but analysts are of the view that the Centre would have to break the political logjam to push growth in <a href="http://www.businessinsider.in/searchresult.cms?query=Asia%27s+third+largest+economy">Asia's third largest economy</a>.<br />
 <br /> The government is looking for an 8%-10% annual economic growth through supply-side measures to increase the capacity in India, rather than risk higher <keyword id="22195" type="COMPANY" weightage="100" keywordseo="Inflation">inflation</keyword> by stimulating demand, Minister of State for Finance Jayant Sinha said on Thursday.<br />
 <br /> It is important to compare <keyword id="6356076" type="UNKNOWN" weightage="80" keywordseo="indian-economy">Indian economy</keyword> with other economies. India is a $2 trillion economy, while China and United States are $10 trillion and $16 trillion economy. So, China growing at a growth rate of 7% will have a larger impact on global growth than India.<br />
 <br /> "If India grows fantastically, but if the US slows down and China slows down, the <keyword id="47890" type="ORGANIZATION" weightage="100" keywordseo="global-economy">global economy</keyword> is going to slow down. India is going to grow, but it will not be the growth engine of the world," added Worah.<br />
 <br /> Earlier, global investment bank, <keyword id="6361649" type="CITY" weightage="80" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> said that India is likely to become the fastest-growing emerging market this year and its potential growth could rise to 8% over the next five years.<br />
 <br />
Moreover, in a faster reform scenario, India's potential growth could rise to 9% over this period due to reforms in labour, infrastructure and education, it said.<br />
 <br />
Jayant Sinha, a former <a href="http://www.businessinsider.in/searchresult.cms?query=McKinsey+">McKinsey</a> consultant, said that the government had ramped up public investment by 40% this year, as part of <a href="http://www.businessinsider.in/searchresult.cms?query=Prime+Minister+Narendra+Modi">Prime Minister Narendra </a><a href="http://www.businessinsider.in/searchresult.cms?query=Prime+Minister+Narendra+Modi">Modi</a>'s push to modernise road and railways.<br />
 <br /> The <keyword id="6360789" type="ORGANIZATION" weightage="100" keywordseo="Modi-Government">Modi government</keyword> said that it is committed to the capex that the economy needs. This commitment is not only in terms of infra, but in terms of overall spending.<br />
 <br />
"In the wake of the slowdown that we have seen, there is now a consensus that the recovery will have to be initiated by government capex. The good part is that we are going to see some solid capex in infrastructure development. It won't be just some populist measures any longer," said Sachin Shah, Fund Manager, Emkay Investment Managers Ltd.<br />
 <br />
"The government announcements may have first looked like a non-event as usual, but it eventually turned out to be different as there were no major populist measures this time despite major droughts and the like," he added.<br />
 <br /> Shah is of the view that this time, there is going to be more capex in the already developed areas. The <keyword id="18658" type="POSITION" weightage="80" keywordseo="Railway-Minister">Railway minister</keyword>'s capex plan for the next five year is quite largescale. And he is not talking without basis. He also has his resources in place. That is a very positive thing, he added.<br />
 <br />
(Image: Indiatimes) <br />

Can India become the growth engine of the world?

<p><div class="KonaFilter image-container float_right"><div class="image on-image"></div><p></p></div></p><p>PIMCO thinks the bond market is going to be wrong. </p><p><a href="http://www.bloomberg.com/news/articles/2015-04-23/pimco-says-bond-market-isn-t-ready-for-september-rate-increase">According to Bloomberg</a>, PIMCO portfolio manager Mihir Worah told reporters in Sydney that, "We think the U.S. Fed goes in September ... <strong>The market is pricing about a 30 or 35 percent probability. We think it's closer to 70 to 75 percent.</strong> The U.S. Fed wants to get off zero."</p><p>Worah added that the one of the firm's "most dominant interest-rate positions is an underweight to the front end."<span style="line-height: 1.5em;"> </span></p><p><span style="line-height: 1.5em;">Short term yields - or the "front end" of the curve - are the most vulnerable to interest rate movements, and tend to move in tandem with interest rates and expectations for the direction of interest rates. PIMCO is staying away from this part of the bond market.</span></p><p><span style="line-height: 1.5em;">Going into 2014, investors anticipated that yields would rise because the Fed was preparing to raise rates, first by ending its bond-buying program.</span></p><p><span style="line-height: 1.5em;"><a href="http://www.businessinsider.com/wrong-10-year-yield-forecasts-in-january-2014-12">Everyone was stunned</a> when instead of rising, yields fell instead through the year.</span></p><p>And the reverse seems to be happening now, where the bond market is not betting on an imminent rate hike, when perhaps, <a href="http://www.businessinsider.com/fed-june-rate-hike-2015-3">they should</a>.</p><p><span style="line-height: 1.5em;">Traders are betting the Fed will raise rates for the first time in 7 years in December; one month ago, their bet was for a September hike, according to Bloomberg.</span></p><p><strong><a href="http://www.bloomberg.com/news/articles/2015-04-23/pimco-says-bond-market-isn-t-ready-for-september-rate-increase">Read the full story over at Bloomberg »</a></strong></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/barack-obama-body-man-reggie-love-2015-2">Here's what it takes to be President Obama's right-hand man</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="g1N2NwczpXSDrnuf4uTcS7BnUmwlMLeM" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

PIMCO thinks the market is getting the Fed wrong

<p><div class="KonaFilter image-container display-table"><div><div class="image"></div><p></p></div></div></p>
<p>With Bill Gross' abrupt departure, PIMCO's flagship Total Return Fund has been taken over by Scott Mather, Mark Kiesel and Mihir Worah.</p>
<p>Maher, Kiesel, and Worah have just <a href="http://www.pimco.com/EN/Insights/Pages/PIMCO-Total-Return-Update-2014.aspx">published</a> a Q&amp;A about their investment approach, and what opportunities they see now.</p>
<p>Here's the relevant part</p>
<p>-----------------------------------------------------------------------------------------------------------------</p>
<p><strong><span class="ms-rteStyle-SmallArticleTitleLink">Mather:</span> </strong>Our belief in the New Neutral continues to anchor our views. We believe the Fed has been looking, and will continue to look, to reflate the U.S. economy. Therefore it is likely to be slow to raise policy rates and any increases will be gradual. Meanwhile, central banks elsewhere, particularly in Europe, Japan, and many emerging market countries, are likely to move in the direction of even further monetary accommodation. There are a few implications: liquidity in the global markets is likely to remain ample for some time to come. And although the global economic recovery remains uneven and substandard, it continues at a robust enough pace to provide a supportive background for many spread sectors and pushes out the timeframe for a turn in the risk cycle. Finally, since not all central banks are moving in the same direction there are likely to be many more cross-market opportunities.</p>
<p><strong class="ms-rteStyle-SmallArticleTitleLink">Kiesel:</strong> I agree with Scott. Certainly there are many opportunities in the credit markets. Credit spreads may be relatively tight, but with liquidity likely to remain plentiful and corporate profits still very healthy in many sectors, we don't see room for spreads to widen significantly. It is important to be selective, but we think there are some great investment opportunities in companies with strong growth profiles and pricing power and in industries with high barriers to entry and improving credit fundamentals. For instance, European banks, US energy, and Asia gaming come to mind.</p>
<p><strong class="ms-rteStyle-SmallArticleTitleLink">Worah:</strong> Central banks are also creating opportunities in the currency and rates markets. Divergent monetary policy is likely to mean continued strength in the dollar, particularly against the euro and yen, and the portfolio is positioned to take advantage of that. Also, though there is currently little inflation, the Fed's reflationary mindset makes inflation protection via Treasury Inflation-Protected Securities (TIPS) a sensible hedge, since they are quite attractively priced compared to nominal bonds.</p>

Here's The Investment Outlook From The New Managers Who Just Took Over PIMCO's Flagship Fund

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"></div><p></p></div></div>The new managers of Pimco's Total Return bond fund, which Bill Gross used to head before unexpectedly quitting last year, are backtracking on many of the bets the eccentric CIO made before he left.</p><p>Managers Scott Mather, Mark Kiesel, and Mihir Worah, who replaced Gross at the helm of the world's biggest bond fund, are increasing their bets on agency mortgage backed securities, <a href="http://www.bloomberg.com/news/articles/2015-03-10/pimco-s-mather-has-appetite-for-bonds-gross-rejected">Bloomberg's Alexis Leondis reported</a>. When Gross managed the fund, he had been cutting down on the government-backed bonds.</p><p>The move marks a divergence from other money managers, like BlackRock, which held more agency MBS than Pimco did last year, and have since begun reducing their holdings.</p><p>But more than anything, it's likely an effort to return the fund to a more neutral position after jittery investors withdrew some $100 billion from the fund last year.</p><p>And it might be working: last month, withdrawals from the fund were down to $8.6 billion, the report said.</p><p><a href="http://www.bloomberg.com/news/articles/2015-03-10/pimco-s-mather-has-appetite-for-bonds-gross-rejected"><strong>Head to Bloomberg for the full story &gt;&gt;</strong></a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/retail-store-layout-plans-spend-money-2014-11">5 Ways Retailers Trick You Into Spending More Money</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="htZ3h4bjqI35tmkHy0Afzz4E89q392-G" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The new managers of Bill Gross' old fund at PIMCO are doing the exact opposite of what he did

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>REUTERS/Charles Platiau</span></p><p class="caption">View of the Treasury chamber of Pharaoh Tutankhamun's tomb.</p></div><p></p></div></div><em><strong>FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.</strong></em></p><p><strong><a href="http://www.bloomberg.com/news/articles/2015-12-28/ex-jpmorgan-personal-bankers-accused-of-theft-from-dead-elderly">2 ex-JPM personal bankers allegedly "preyed" on the dead</a> (Bloomberg)</strong></p><p>Jonathan Francis, 27, and Dion Allison, 30, both former personal bankers at JPMorgan, are accused of stealing $400,000 from inactive bank accounts belonging to at least eight deceased customers. Bloomberg reports, prosecutors say the duo, along with their co-conspirators, made at least 350 withdrawals, using ATM cards they made, from "dormant" accounts in Brooklyn, New York that were receiving regular direct deposits from Social Security.<span> </span>Douglas Rankin, an attorney for Francis says his client is "not guilty" while Victor Knapp, an attorney for Allison, says his client hasn't decided whether or not to fight the charges. Knapp told Bloomberg, Allison has "no criminal background whatsoever." <strong><br /></strong></p><p><strong><span><span><a href="http://www.investmentnews.com/article/20151230/FREE/151239997/sec-report-revisits-sting-of-unsolved-aug-24-market-slide">Average usually doesn't happen in the markets</a> (Business Insider) </span></span></strong></p><p>On average, investors are taught to expect a 10% return on stocks and 5% return on bonds each year. However, that usually doesn't happen. A scatterplot provided by Vanguard shows that "average" returns have only materialized nine times going back to 1926.</p><p><strong><a href="http://www.businessinsider.com/r-global-growth-will-be-disappointing-in-2016-says-imfs-lagarde-2015-12">The IMF says 2016 growth will be "disappointing and uneven"</a> (Reuters)</strong></p><p>International Monetary Fund head Christine Lagarde told the German newspaper Handelsblatt, "<span>In many countries the financial sector still has weaknesses and in emerging markets the financial risks are increasing." She continued, "All of that means global growth will be disappointing and uneven in 2016." Lagarde pointed to the lingering effects of the global financial crisis as well as low productivity and unfavorable demographics as reasons for the disappointment, Reuters says.</span></p><p><strong><a href="http://www.bloomberg.com/news/articles/2015-12-30/pimco-s-main-fund-climbs-back-near-top-in-year-after-gross-exit">Pimco's Total Return had a great 2015</a> (Bloomberg)</strong></p><p>Bloomberg reports, Pimco's flagship fund, the Total Return Fund returned almost 1% through December 28, outperforming 89% of its peers. The fund's outperformance comes despite seeing $52.7 billion in outflows, which have lowered its assets under management to $92 billion. According to Bloomberg, the fund held $293 billion AUM at its peak in 2013. Mihir Worah, one of the fund's co-managers said, "We've been defensive," staying out of the high-yield energy market.</p><p><strong><a href="http://www.usatoday.com/story/life/movies/2015/12/29/box-office-past-record-11-billion-mark-star-wars-force-awakens/78035710/">2015 was a record-setting year at the box office</a> (USA Today)</strong></p><p>"Star Wars: The Force Awakens" capped a record-setting year at the box office in North America. The sequel has brought in about $600 million on the continent, running 2015's box-office total over $11 billion, according to Rentrak data. The previous record was $10.9 billion, set in 2013, USA Today says. Aside from "Star Wars," other hits at the box office in 2015 included "American Sniper," "Fifty Shades of Grey" and "Jurassic World."</p><p> </p><p> </p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/kosher-certification-symbol-on-food-2015-12">What this symbol that's on nearly half of your food actually means</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="FhdmxjeDpVrP4LCaMcibCHcigGocUkdZ" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

2 former JPMorgan bankers allegedly stole from the dead

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span>REUTERS/Jim Young</span></p></div><p></p></div></div>Two trillion dollar fund PIMCO is getting its swagger back, but its not because of superstar founder Bill Gross.</p>
<p>As Mary Childs and Charles Stein over at Bloomberg report, PIMCO has some rising stars that are outshining their CEO.</p>
<p>From <a href="http://www.bloomberg.com/news/2014-08-01/gross-left-behind-in-pimco-return-to-top-as-deputies-rise.html">Bloomberg:</a></p>
<p style="padding-left: 30px;"><strong>Nine of Pimco's 15 largest mutual funds are beating at least 75 percent of peers so far this year, </strong>according to data compiled by Chicago-based research company Morningstar Inc. None of those top performers are managed by Chief Investment Officer Gross. Of the four funds trailing more than half their rivals, three including the Pimco Total Return Fund are run by the 70-year-old investor known as the bond king.</p>
<p style="padding-left: 30px;"><strong>Gross has been undermined this year by bets on shorter-term debt, trailing 89 percent of his peers in July,</strong> as rising managers including Daniel Ivascyn, Mihir Worah and Mark Kiesel have outperformed.</p>
<p>The firm really wants to convey that there are fresh ideas at PIMCO. Performance has been lagging, and in 2013, investors redeemed a total of $41.1 billion from the fund.</p>
<p>Those problems took center stage in March when Gross' right-hand, Mohamed El-Erian, abruptly left the firm.</p>
<p>Suddenly, everyone was talking about what was wrong with PIMCO, and one reason that was repeated up and down the Street was that Gross was a <a href="http://www.businessinsider.com/money-managers-are-worried-about-pimco-2014-3">"cowboy" who saw his fund as a one-man show.</a></p>
<p><a href="http://www.businessinsider.com/pimcos-bill-gross-speaks-at-morningstar-conference-2014-6">After that, things got weird.</a> Like when he spoke at Morningstar's annual investor conference in Chicago in June and approached the stage to a bad cover of 'Smooth' by Carlos Santana and Rob Thomas wearing sunglasses.</p>
<p></p>
<p>We're hoping this success will give Gross some time to relax.</p>
<p><a href="http://www.bloomberg.com/news/2014-08-01/gross-left-behind-in-pimco-return-to-top-as-deputies-rise.html">For the full rundown on PIMCO's performance, head to Bloomberg&gt;</a></p>

Bill Gross Is Getting Outshined At PIMCO

<p><div class="KonaFilter image-container float_right"><div class="image on-image"><p class="source"><span>REUTERS/Soe Zeya Tun</span></p><p class="caption">A fisherman prepares his fishing net in Myanmar</p></div><p></p></div><em><strong>FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.</strong></em></p>
<p><strong><a href="http://blogs.cfainstitute.org/insideinvesting/2014/01/28/current-investment-traps/">Investment Traps That Even The Smartest People Fall Into</a> (CFA Institute) </strong></p>
<p>Even the smartest investors often fall into investment traps writes Michael Lipper at the CFA Institute. Here are some of the current investment traps he sees.</p>
<p>1. Value - "There are two traps here. The first is that we can mathematically determine the exact true value of something, including securities. The second is not being concerned with the seller's motivations."<br />2. Successful young investors - "Many of today's enthusiastic investors have only had the experience of the decline and recovery phases of the last five and ten years. …Enjoy them, perhaps participate, but don't count on today's gainers getting you out ahead of time of their collapse; it will be new to them. In other words, it could be a trap." <br />3. The book value trap - Many look at this as a measure of investment value. "People tend to forget that the book value they were taught in college or graduate school… is a teaching device, not a measure of reality." Tied into this is the tendency to overlook human factors.<br />4. Predictability of the VIX - This is often used as a gauge of fear and current levels show there isn't a "great deal of price pessimism." But a contrarian take would be that "this is exactly when a negative surprise could be its most potent.<br />5. Failure of stock investors to consider bonds - Bond prices tend to be more sensitive to potential bad news than the stock market. "As a stock investor, I am aware that bond prices can be a useful warning device for me… The current preponderance of downgrades in an economy that is meant to be recovering is a cause for one to be cautious about committing new money to the stock market."</p>
<p><strong><a href="http://www.investmentnews.com/article/20140129/FREE/140129882">Advisors Aren't Making Enough Use Of ETFs</a> (Investment News) </strong></p>
<p>Advisors invest a very small part of their clients assets in ETFs, according to a survey by S&amp;P Capital IQ at the ETF Virtual Summit. 50% of respondents said the invested less than 20% of clients' assets in ETFs. 12% said they invested 60% of clients' assets or more, reports Carl O'Donnell at Investment News. This is partly because advisors don't know a lot and only stick to offerings from well established names like Vanguard. </p>
<p>"The survey was not statistically significant, with a sample size of only 150, but Mr. Rosenbluth pointed out that it was taken at the ETF Virtual Summit, which most likely was attended by advisers who were more involved in ETF investing than the average," O'Donnell reports.</p>
<p><strong><a href="http://www.bloomberg.com/news/2014-01-29/pimco-names-four-more-deputy-cios-after-el-erian-quits.html">PIMCO Names Four Deputy CIOs</a> (Bloomberg)</strong></p>
<p>PIMCO, the world's largest bond manager, has named four deputy chief investment officers. The four new deputy CIOs are 1. Mark Kiesel, global head of the corporate bond management group; 2. Virginie Maisonneuve, global head of equities; 3. Scott Mather, head of global fund management; 4. Mihir Worah, head of the real return group. This comes after Mohamed El-Erian announced his exit from PIMCO.  "Going forward there will be more focus on strategy and markets rather than policy and these are the people on the front lines of strategy and alpha," Gross told Bloomberg's Alexis Leondis.</p>
<p><strong><a href="http://www.businessinsider.com/state-of-bond-market-today-2014-1">Today's Bond Market Environment Is Not Like The Bond Bear Market Of 1981</a> (The Alliance Bernstein Blog) </strong></p>
<p>Investors are often concerned with how they should approach bonds in a rising rate environment. They often think were seeing a situation similar to the runaway inflation we saw in 1981, or 1994 when we saw a rapid rise in federal funds rate. </p>
<p>But in terms of inflation, "questions around inflation mostly relate to the lack of it, rather than runaway levels of it," writes Douglas J. Peebles of Alliance Bernstein. As for the rapid rise in rates, he says that "today, the Fed has taken great care to provide highly transparent communications about catalysts for future rate hikes as well as the likely extent and pace of them-none of which were present in the Fed's communications leading up to 1994's initial rate hike."</p>
<p>Instead he thinks this is closer to what we saw in 2003-2006, when "rates rose meaningfully, but slowly-and in response to improving growth over time." And this is what investors need to remember as they rebalance their portfolios.</p>
<p><strong><a href="http://www.businessinsider.com/obama-myra-retirement-heres-what-you-need-to-know-2014-1">Here's What You Need To Know About MyRA, Obama's New Retirement Program</a> (Business Insider)</strong></p>
<p>During his State of the Union address, president Obama announced a new retirement savings program called MyRA. "This would be a program of small Roth IRAs with access to a special, safe investment that pays a little better than Treasury bills," Business Insider's Josh Barro explained. </p>
<p>Employees don't have to run or fund the account. And the accounts would be invested in a "security similar to the "G Fund" available to federal employees participating in the Thrift Savings Plan. This fund has all the advantages of short-term Treasury bills (no credit risk or interest rate risk) but pays an interest rate based on the average of outstanding long-term Treasury bond rates." If the account went over $15,000, account holders would have to roll the balance over into a private Roth IRA. <br /><br /></p>

You Searched For "Mihir Worah" and got 7 results

Can India become the growth engine of the world?

BI India Bureau

PIMCO thinks the market is getting the Fed wrong

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Here's The Investment Outlook From The New Managers Who Just Took Over PIMCO's Flagship Fund

Joe Weisenthal

The new managers of Bill Gross' old fund at PIMCO are doing the exact opposite of what he did

Portia Crowe

2 former JPMorgan bankers allegedly stole from the dead

Jonathan Garber

Bill Gross Is Getting Outshined At PIMCO

Linette Lopez

FINANCIAL ADVISOR INSIGHTS: Even The Smartest Investors Can Fall Into These 5 Traps

Mamta Badkar

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