What were Siddhartha Bhaiya's final investment strategies?

Siddhartha Bhaiya significantly reduced equity exposure, shifting heavily into gold ETFs due to concerns about stretched valuations and market euphoria.

Why did Siddhartha Bhaiya avoid Indian markets recently?

Bhaiya cited concerns over rich valuations, widespread market euphoria, and corporate governance issues as reasons for his reduced exposure to Indian equities.

What made Siddhartha Bhaiya's PMS the top performer in 2025?

His disciplined, bottom-up approach, contrarian mindset, and successful identification of small-cap multibagger stocks contributed to his PMS being the top performer.

Home / Business and Economy / Fund Manager's Final Bets: Gold Over Stocks

Fund Manager's Final Bets: Gold Over Stocks

4 Jan

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Summary

Manager Bhaiya shifted portfolio heavily into gold ETFs recently.
He cited stretched valuations and market euphoria for selling equities.
Bhaiya's PMS was the top performer in 2025 with exceptional returns.

Fund Manager's Final Bets: Gold Over Stocks

Fund manager Siddhartha Bhaiya, renowned for his contrarian investing and successful small-cap picks, passed away following a cardiac arrest on December 31st. Bhaiya had recently adopted a cautious stance on Indian equities, citing stretched valuations and market euphoria as key reasons for reducing his portfolio's equity exposure. He strategically shifted a significant portion of his assets into gold ETFs, with 81.5% of his Rs 4,000 crore fund invested in them as of November. Bhaiya also identified selective opportunities in international markets, favoring non-tech themes in the U.S., consumption plays in China, and defensive sectors in Europe. Bhaiya's disciplined, bottom-up investment philosophy focused on individual businesses and valuation comfort. This approach led his PMS to become the top performer in 2025, building on a legacy of delivering exceptional long-term returns through celebrated multibagger stock calls.