BRIC Investors Lose Their Taste for Stocks

Poor returns dim shares’ luster in Brazil, Russia, India, and China
People walk past the Bovespa stock exchange in São Paulo Photograph by Yasuyoshi Chiba/AFP via Getty Images

Indian investor Nirav Vora had 2.5 million rupees ($45,984) in the Indian stock market six years ago. Today that figure is down by 75 percent after investment losses and withdrawals. Now the 39-year-old father of two in Mumbai, who depends on investment income for his livelihood, is plowing money into government bonds. “The confidence of small investors is rock bottom,” Vora says. “They have no faith in the markets.”

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