American $220 Billion Oppenheimer Fund has cut India to underwieght due to expensive valuations and finds Brazil much more attractive.
Michael Metz of Oppenheimer said that, India is an exciting market but Brazil is the most attaractive emerging market. Michael further added that market is stretched too high and is vulnerable to a sudden and quick correction. He is worried at the speed the Indian markets have risen and is a major cause of concern.
Via[MC]
Tags: Dalal Street, Emerging Markets, Stocks India, Bric Stocks