From Bespoke Investment Group:
Don't look now, but India's stock market is on fire. At its close
today, India's Sensex was up 6.83% over the last three trading days,
leaving it up 12.76% in 2014. The Sensex is now up 192.5% from its
Financial Crisis lows made in March 2009. A few days ago before India's
massive run higher, the S&P 500 was still outperforming the Sensex
over this 5+ year time frame. Not anymore. As shown in the chart
below, the Sensex is now up 12 percentage points more than the S&P
500 since March 9th, 2009....MORE
For some reason, and meaning no disparagement to the denizens of that ancient land I am reminded of a joke:
A prospector died and when he got to the pearly gates Saint Peter looked
in his book and said that his quota of prospectors was full and he
would have to go to hell. The prospector asked if he could at least look
inside the gate before going. Saint Peter didn't like the idea, but
said yes. The prospector looked in and yelled, "They found gold in
hell!" Immediately, every prospector in Heaven came rushing out with all
their equipment and headed hell bent for hell. Saint Peter said, "Well,
we've got room now. Welcome to Heaven." The prospector looked at him,
soulfully and said, "There just might be some truth in that rumor."
