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Whether it was scams or the threat of recession, the market survived everything with aplomb.
It wasn't easy going. Scams marked the beginning and the end of the decade – Ketan Parikh in
2001 and the 2G scam in 2010. The worst recession since the 1930s cast a large shadow. The
stock markets, however, have survived it.
But there were lessons to be learnt as well. Here are the top 10:
Thanks to the global recession, the real estate boom could not get too strong. Between 2007 and
2009, real estate companies became the favourite. An example was the size of the initial public
offerings (IPOs). DLF came with the second biggest IPO of all time and raised Rs 9,187.50
crore. Others such as HDIL and Parsvnath Developers raised Rs 1,485 and Rs 997.14 crore,
respectively. Many stocks and investors in them are still to see those valuations.
While investors can buy stocks or mutual funds that are in vogue, it is important that they do not
overexpose themselves.
With time, the wealth managers also launched complicated products and 2009 onwards
structured products became bigger and bigger. Along with this, came "mis-selling" of structured
products and the Citibank fraud. Do not buy structured products unless you understand their
functionality fully.
The question about global events affecting India will continue to emerge, as foreign institutional
investors pour money in the country. Experts said the theory of decoupling is narrowing with the
passage of time. Earlier, global events affected us little. As the FII money flows into India, the
market will see a greater impact of global events.
"This decade India has performed better. Hence, there was not much interest in global funds.
However, going forward, the investors would need to look at them as their valuations become
attractive," said Mahhendra Jajoo, executive director, Pramerica Asset Managers.