Vision 2024: Insights for the New Year with Estee

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A simple guide to budgeting in the New Year!

Start the New Year right by keeping your budget simple. First things first, pay yourself!

Figure out how much you want to save each month for your goals, then transfer that money in an investment account. After that, you can use the rest however you like. This way is way easier than stressing about budgeting for every little expense, which can be a big hassle for many.

So, focus on saving first, and the rest will fall into place. Keeping it simple lets you spend more time on what you enjoy without the money worries!

Top themes that can shape 2024

In 2024, keep an eye on the potential Fed rate cuts in the US, with markets anticipating a 0.75% reduction in the fed funds rates. If this unfolds, it could trigger significant Foreign Institutional Investor (FII) inflows, particularly benefiting emerging markets like India.

Unlike 2023, where retail and domestic institutions dominated, 2024 may see both retail and FIIs injecting funds, potentially driving Nifty to new heights.

India’s growth story adds to the optimism. Despite global challenges, India stood out with a 7.2% growth rate in FY22/23, outpacing many G20 nations.

The World Bank predicts manufacturing to rise from 17% to 25% of GDP by 2030, fostering export-driven growth.

Goldman Sachs Research forecasts India’s growth rate at 6.2%, the highest among 13 major economies in 2024. With macro stability, democratic strength, and robust domestic inflows, India’s growth trajectory remains compelling amidst global dynamics.

Investment habits to ditch in 2024

In 2024, steer clear of common investment mistakes for a prosperous financial journey.

Resist the urge to cash in when stocks hit their peak during a bull market—embracing all-time highs is key for long-term growth and compounding benefits.
Don’t delay in investing fresh funds; waiting for market corrections often results in more losses than the corrections themselves.
Stay disciplined by adhering to your risk profile; avoid the pitfalls of investing too much in equities, dabbling in penny stocks, or trying to time the market.

Prediction for 2024

Few years back, a journalists reached out to me to get my views about the markets expected returns next year. I gave him a generic answer that I expect markets to give 12-15% returns over next year.

In reality I did not have a clue what could happen in such a short duration as 1 year. I was just trying to sound intelligent and was afraid to say out loud my actual view, lest someone considers me a novice.

Since then I have followed a policy of giving out my views about short term market movement with same standard and boring reply. Which is “I do not know, and I do not care”

Reflecting on the past, Nifty’s growth has been impressive, with a 3.3X surge from 2003 to 2013 and another 3.4X increase from 2013 to 2023. If this trend continues, a 3.3X surge in the next decade could drive Nifty to 71,000—a testament to compounding’s power.

My prediction? Prepare for a potential 50,000-point surge in Nifty over the next 10 years.

Personal and professional goals:

Professional :To increase my interaction with investors and try to help more investor community.

One thing that I enjoy and gives me fulfilment is educating the investor community. I also get to learn a lot in the process. I intend to take this a notch higher and spend more time educating new investors plan better.

Personal : Health – to run a half/full marathon. I have run half marathons in past but haven’t been in the best of health for last few years. Want to change that in 2024 and have set a target to running a half marathon, and if things go well, a full marathon.

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Vivek Sharma

The content in this article is purely the author’s personal opinion and is for informational and educational purposes only. It should not be construed as professional financial advice and nor to be construed as an offer to buy /sell or the solicitation of an offer to buy / sell any security or financial products. The views and opinions stated in the content belong to the author. Estee Advisors Pvt. Ltd does not uphold nor promote any of the views / opinions. | Estee Advisors Pvt. Ltd is a SEBI registered Investment Advisor (Regn. No. INA000016463)

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