Indian-origin tech leader Deedy (Debarghya Das) shared what billionaire Michael Milken said about Indian-origin CEOs replacing US-born CEOs in US companies and presented the results of it, triggering a huge social media debate. Milken said earlier that if a US company replaced the US-born CEO with a CEO born in India, he buys the stock. Das said he backtested the idea. "In the last 15yrs, that would’ve 50x’d your money: 7.5x more $$ and >2x IRR vs S&P500: 30% vs 14%!" Das concluded.
As the conclusion triggered off a debate over Indian-origin leadership of tech companies, Das said it was just a correlation that he observed and does not establish that the stocks went up because of the Indian-origin leaders.
