Investing: India Bubble?

The stock market is frothy. Everyone wants in. It sounds all too familiar

Finding a job in the investment world was always going to be easy for Navroz Udwadia, a second-year student at Harvard Business School and a former Rhodes scholar. But what made him stand out was not just his brain; it was that he had grown up in Bombay and had a passion for Indian equities. "Every hedge fund I interviewed with was fascinated by my Indian background," he says. Four of them offered him jobs. One, refusing to wait for him even to graduate, gave him $5 million to invest in Indian stocks in his spare time.

Entrusting millions to a...

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