Simhavalokana 2025: 10 things that Mr Market taught us in the year gone by

Key Highlights

• The rationale behind writing this as a look-back piece was threefold—first, Yogi Berra got it right when he said, “It’s tough to make predictions, especially about the future;” second, a surfeit of 2026 outlooks makes a look back piece stand out; and most importantly, the compliance department of any professional money management firm visibly relaxes when one tells them that the column is all about the past and has nothing to do with the future. Assuming that my editor friend’s barely perceptible nod was a go-ahead, here are 10 things that Mr Market taught us in the year gone by.1.
• India discovers international investingRelative to the emerging markets index, 2025 has been the worst year for India’s equity returns in over three decades.
• But strangely, it did not feel that way.
• At social gatherings, fellow investors have proudly flaunted their holdings in a wide array of international assets—ranging from Korean and Brazilian exchange-traded funds (ETFs) to commodity funds and global defence stocks.
• A generous overseas remittance allowance of $250,000 per head, a wide range of low-priced products to choose from and relative ease of transacting have all contributed to this trend.