The year ended with a very sad news for the Indian stock market and investment world. Siddharth Bhaiya, the country’s well-known Portfolio Management Service (PMS) fund manager and known for identifying multibagger stocks, died of cardiac arrest. Siddharth Bhaiya, 47, was holidaying with his family in New Zealand when he suffered a heart attack on December 31. His company Aequitas Investment Consultancy has confirmed this news. His sudden demise has created a wave of mourning in the investment world.
Siddharth Bhaiya was counted among the most sharp and outspoken investment experts of the Indian stock market. He was the Managing Director and Chief Investment Officer of Aequitas and founded the firm as a boutique asset management company offering investment services for ultra-high net worth individuals (Ultra-HNIs). As of January 2026, Aequitas’ assets under management (AUM) were around Rs 7,700 crore.
Gave sharp warning regarding stock market
Recently Siddharth Bhaiya had given a sharp warning regarding the Indian stock market. He described the current market not as a “healthy bull run” but as a “bubble of epic proportions.” He said that Nifty’s PE of around 20 times looks attractive, but it is only a part of the picture. He argued that the low valuation of Nifty is mainly due to large PSU stocks like SBI, ONGC, NTPC, Coal India and Power Grid, which most retail investors do not keep in their portfolios. After removing these stocks, the PE of the real portfolio is above 40 and in midcap-smallcap it is more than 50.
Gave statement on SIP
His statement regarding SIP was also much discussed. He had said that the current era is not SIP but SWT – Systematic Wealth Transfer, where the regular investment amount of the middle class is matching the share sale of the promoters. Aequitas said in its statement that Siddharth Bhaiya was not just an investor but an institution builder, who believed in intellectual honesty, discipline and long-term thinking. Many stalwarts including Helios Capital founder Sameer Arora expressed deep grief over his demise.
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