ABOUT NIGAM ARORA

OVERVIEW

ABOUT NIGAM ARORA

OVERVIEW

Nigam Arora is a distinguished master of the macro, a stock market strategist known for a long record of accurate calls, a popular columnist, an engineer, and a nuclear physicist. He is the founder of global investment research firm The Arora Report, has also founded two Inc. 500 fastest growing companies, and has been involved in over 50 entrepreneurial ventures. Nigam is the developer of Theory ZYX of Successful Change Management, is the author of the book on Theory ZYX, as well as the developer of the highly successful ZYX Change Method of Investing and Trading.

Nigam Arora is truly a master.

The Arora Report insights are fantastic, and their analysis is truly unparalleled.

Other world famous gurus do not even come close to anticipating events the way Nigam Arora does. In all, I am an extremely satisfied subscriber. If I could only have one newsletter service, it would be The Arora Report.

Charlie W, Massachusetts

A doctor by profession who is passionate about macro and a subscriber to The Arora Report

Nigam is also the Chief Investment Officer of The Arora Report. The Arora Report has a large subscriber base across the globe including private investors, investment advisors, and money managers.

Nigam has innovated a unique framework for thinking about the markets that has led to unrivaled insights and remarkable accuracy in both bull and bear markets.

Arora has staked out new terrain and provides signposts for all to follow. Arora has a unique gift and genius to peel away layer after layer to arrive at the essence of one truth after another regarding the markets. Linda C., Ph.D.

Nigam’s advanced mathematics skills have played a key role in the success of the ZYX Change Method and the adaptive ZYX Global Asset Allocation Model in making accurate calls and providing unrivaled insights. ZYX Global Asset Allocation Model automatically changes based on market conditions. The adaptiveness has overcome the weakness of conventional models in that they work for a while and then stop working as conditions change.

People close to Nigam call him an economist due to his deep knowledge in combining leading economic indicators with proprietary quantitative factors to call the markets to generate high risk-adjusted returns. The knowledge gained from hands-on operating experience in a number of different industries has contributed to Nigam’s remarkably accurate investment calls.

The rules Nigam developed over 30 years have come to be affectionately known as Arora’s 30 Laws of Investing and Trading. These laws are not publicly available but reserved for a select group dedicated to dramatically enhancing performance. Arora’s laws also provide guardrails against making many common mistakes.

Nigam’s writings have generated over 100 million page views.

Nigam has been a contributor to Forbes, MarketWatch which is an online affiliate of The Wall Street Journal, Kitco, and Seeking Alpha. His writings have also been seen or referenced in numerous additional media and investment research platforms across the globe. His columns have routinely been among the most popular and often the headline at MarketWatch. His columns have also been often among the most popular at Forbes and Seeking Alpha.

Nigam is known for his prescient insights from which subscribers to The Arora Report have handsomely benefited. Over the years, Nigam has made thousands of accurate calls on macro, individual stocks, individual ETFs, currencies, and commodities including precious metals and crude oil. Here are some of his major macro calls.

MAJOR MACRO CALLS

U.S. STOCK AND BOND MARKETS

In advance of the Israel Iran war, The Arora report call was that Israel would prevail and Iran would be much diminished; the call has been proven spot on
On April 9, 2025 right at the market low, correctly called the short term bottom and issued signals to take profits on hedges and buy new tactical positions
In 2025, correctly called in advance the stock market drop of March and early April related to Trump tariffs and protected the strategic portfolio over 80% prior to the drop — 57% portfolio level protection, additional hedges on individual positions, short positions including short on oil, and a large gold position
In 2025, correctly called to take profits on short term tactical positions on Trump inauguration
In 2024, correctly called that stock market would rally on Trump’s re-election
In 2024, made a spot on contrary call before the Fed’s 50 bps rate cut that the yield on long bonds would rise after the rate cut
Correctly called the stock rally at the beginning of 2024
Correctly called in January 2024 that the market was wrong in assuming six or seven rate cuts starting in March
Correctly called heavy emphasis on buying artificial intelligence stocks in 2023 and 2024
Correctly called the start and end of the correction in 2023
Correctly called the new bull market of 2023
Correctly called the start of the artificial intelligence rally in 2022 before anyone else, leading to buying positions such as Nvidia (NVDA) and Microsoft (MSFT) near the lows
In the 2022 bear market, correctly called the start and end of most counter trend rallies for profitable tactical trades
Correctly called in advance the big drop in bonds that occurred in 2022 and took advantage of the call with a highly profitable position in a leveraged inverse bond ETF
Correctly called the bear market of 2022 in advance — portfolios up to 69% protected in 2022
Called in advance the rapid rise in interest rates in 2022 — the call has proven spot on
Correctly replaced bonds with cash in a 60/40 portfolio ahead of the big losses in bonds
In 2021, called that popular long duration stocks would experience significant hits — subsequent to the call, most long duration stocks lost 50 – 90%
In 2021, called that most SPAC stocks would be decimated — subsequent to the call, most SPAC stocks lost 60 – 90%
Repeated calls in 2021 that the Fed was wrong about inflation being transitory at a time when the market believed the Fed; the calls have proven spot on — the Fed has admitted that their forecast was wrong
In 2020 when almost nobody was concerned about inflation, repeated calls that monetary and fiscal policies would result in inflation taking hold; the calls have proven spot on
In April 2020, as the virus was spreading and there were serious concerns about the stock market, made a call that the stock market would hit new highs; the call has proven spot on
In the third week of March 2020, right at the bottom of the pandemic dip, several important stocks such as Apple (AAPL) and Microsoft and several important ETFs dipped in the Arora buy zones helping investors to buy at the lows and resulting in subsequent large gains
In 2020, before the big virus drop in the stock market, portfolios were protected up to 86%
In January 2020 when nobody was talking about the virus impact on the stock market and the stock market was making new highs, called for a severe stock market drop before the big virus-related drop in the stock market in late February and March
In 2019, stayed bullish on the stock market with prudent protective measures
Gave a new buy signal on Christmas Eve 2018 which turned out to be the low of the cycle followed by a 20% rise in the stock market
In the fourth quarter of 2018, took protective measures before the 20% fall in the market on taper tantrum
From 2017 to the third quarter of 2018, stayed bullish throughout the market rise with prudent protective measures
On the day of Trump’s election, when Wall Street was talking about a stock market crash, correctly called for a big market rally and subsequently called for Dow Jones Industrial Average to reach 30,000 in Trump’s first term; the call has proven spot on
In 2016, correctly called Trump’s election at a time when Wall Street had anointed Hillary Clinton as the president
In 2016, did not buy into Wall Street’s caution about financial stocks and held on to significant financial stock positions going into the election; financials performed the best after the election
When the Dow Jones Industrial Average was in the 16,000 range, called for Dow Jones to reach 30,000; at that time no one was calling for such a big rise in the stock market
Called for aggressive hedging and other protective measures in late 2015 before the market downturn of early 2016; aggressively bought the dip before the big rebound
Correctly stayed bullish, at times with protective hedges and other measures, during the long bull market that started in 2009
Aggressive hedging and profit-taking before the market downturn in 2011 made 2011 a profitable year for The Arora Report subscribers, a year in which most investors lost money
On March 9, 2009, issued a signal perfect to the day to back up the truck and buy stocks; March 9, 2009, turned out to be the start of a decade long bull market
Called to take profits on all short positions in February 2009, just before the market bottom
Called to take profits on inverse ETFs in February 2009, just before the market bottom
In the 2008 crash when most investors lost half of the value of their portfolios, subscribers to The Arora Report generated over 45% return with the judicious use of hedges, cash, and inverse ETFs; the return was significantly higher for those who could use short selling signals from The Arora Report
In the early stages of the decline prior to the 2008 crash when the stock market lost half of its value, called to go heavily in inverse ETFs that go up when the market goes down
Called to go to 100% short prior to the 2008 crash for investors who were able to short
Called to go to 100% cash and hedges prior to the 2008 stock market crash for long-only investors prior to the stock market losing 50% of its value

GOLD AND SILVER

In 2025, spot on call of gold reaching $3,000 – call made well in advance when nobody was talking about gold reaching $3,000
Correctly called the gold rally of 2024 and maintained the long held strategic target of $3,000
In 2024, correctly called to accumulate silver
From 2017 to 2023 made numerous correct short term tactical calls on gold and silver as well as maintained the long term strategic call of gold reaching $3,000
In 2016, on Trump’s election night when gold was shooting up, The Arora Report gave a strong sell signal right at the top before the over $200 drop in gold — Business Standard, a leading business publication in India, picked up that it was The Arora Report call that triggered the drop in gold
Correctly stayed bearish on gold and silver from 2011 top to early 2016 with numerous calls to trade mostly from the short side and correct calls to take a handful of long positions to profit from countertrend rallies
In 2011, called perfectly to the hour to sell half of gold holdings at the exact top at $1904 and put a stop on the remaining at $1750 – subsequently gold fell to the $1000 range
In 2011, called perfectly to the day to short sell silver right at the $50 top; held the short position all the way down to the $14 range
Called to allocate 20% (maximum allowed under diversification rules) to silver in the $16 – $18 range with an average of $17.73 before a run to $50
Called to back up the truck and buy gold in $600’s, with an average of $663, before a run to $1904

CRUDE OIL

In March 2025, correctly called to short oil ahead of the big drop related to Trump tariffs and OPEC+ production
From 2023 – 2024, made numerous correct calls on oil
In 2022, gave a signal perfect to the minute right at the top at $130 to short sell oil or buy inverse oil ETF at a time when analysts were uniformly issuing buy signals on the Russian invasion of Ukraine — oil fell to $93 in a week
From 2017 to 2022 made several correct calls on oil
In 2016, correctly turned first neutral in low $30’s and then bullish on oil before a run to $50’s
Made 64% profits over a few months by buying oil MLP closed-end funds with about 12% dividends at the bottom in oil
Correctly stayed bearish on oil in 2014 to early 2016 as oil dropped to $27
Bearish calls to sell short crude oil at $108 in 2014 right near the top before a significant drop
Called to take profits on all of the crude oil long position at $103.43 in 2011 before a major drop
Bullish calls to buy crude oil long in 2009 in the range of $43 – $49 with an average of $47.18 before a run to the $108 range in 2011
Called to take profits on all of the crude oil short position in 2009 at $41.86 right near the bottom
Made bearish calls to sell crude oil short in 2008 in the range of $121 – $133, with an average of $127.34, before a fall to the $40 range
Called to sell all of the crude oil position in 2008 at $138.87 near the top
Made bullish calls to buy crude oil long in 2007 in the range of $65 – $73, with an average of $68.71, before a run to the $140 range in 2008

EUROPE

In 2025, correctly maintained a position in European financial stocks and called to accumulate European defense stocks on dips
From 2018 to 2024, made several correct calls on Europe including not broadly investing in Europe prior to the Russian invasion of Ukraine
In 2017, correctly stayed bullish on Europe during the stock bull market
Made a spot on call to buy Europe in 2016 before a 50% run-up
In 2016, The Arora Report was one of the rare advisory services that was right on Brexit and the stock market’s reaction
Made several specific investment calls stemming from the foregoing macro call that generated large profits
During the European sovereign debt crisis when many gurus were calling for the failure of the euro, made the correct bold call that the euro would survive as a currency and the European Union would not break up

CHINA

Made several successful calls related to the U.S. and China trade war
When China GDP was growing at about 12% and everyone with rare exceptions was bullish on China, made a bold bearish call that China’s super-cycle was over; by 2019, China’s true GDP growth fell to about 6%
Made several specific investment calls stemming from the foregoing macro call that have generated large profits

INDIA

Correctly called the Indian stock market dip of early 2025
Correctly called the Indian stock market dip of late 2024
Correctly called the Indian stock market rally of 2024
Correctly called the Indian stock market rally from 2020 – 2023
Correctly picked small caps for outperformance in India
Made numerous correct calls on investment in India from 2007 – 2020
In 2007, correctly identified before most analysts that India was on its way to become the world’s third largest economy in due course

JAPAN

Correctly called the rally in Japanese stocks from 2023 – 2024
Made numerous correct calls on Japanese stocks from 2007 – 2023