Why metals can’t be a long-term play. What to buy in consumer space? Ashi Anand answers

economictimes.indiatimes.com:

Ashi Anand, Founder & CEO, IME Capital, says “we are seeing a larger risk on trade, FII flows are starting to come back in. It is really the context of the current strength in metals. But from a slightly longer-term perspective, the Chinese economy is really struggling and importantly, it is the housing sector in China which is really struggling the most. Just two days ago, a Chinese developer went bankrupt. Now, China has been the core driver of global demand for metals and if the biggest demand driver is really going to be weak, it is really difficult to build any kind of longer-term fundamental call on at least the core metals.”
A lot of interest in the IPO market and considering you track this space closely, any business that you have liked, any IPO that you have subscribed to?
Ashi Anand: Yes, we are tracking the IPO space. There are certain interesting IPOs coming up. There are certain D2C brands which are coming up. There are certain other digital platforms. So, it is a space that we are tracking. The only problem is the IPO market is probably a bit too hot. Participation is probably being too high. There is a large amount of IPOs which probably are not of that high quality seeing very large subscription numbers.

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So, it is not really the healthiest space and you may even like an IPO but it is very difficult to get subscriptions. So, it is a space that we are tracking but honestly, at some level, we are a bit more concerned about the level of froth that we are