In the business world, the rearview mirror is always clearer than the windshield - Warren Buffett
In hindsight, it’s clear that the pessimism of july-13 was undue and exaggerated (It looks too easy today, but it could have continued had India not got full majority). Equally true would be the clarity and hope with which many local businessmen are viewing the windshield. With the clear majority at center (government), functioning and policy making, which went in topsy-turvy in last few years, should be a low hanging fruit for the new Government. Hopes are high and with clear majority at center, the runway is clear now.
Presently, most of the clueless retail investors, who didn’t make money
since 2008, are desperately washing off their hands off the stocks! Domestic
investment institutions are facing redemptions - and are biggest sellers (and
losers) in the markets. Read this interesting
article by another fund manager Samir Arora, on money flow into markets.
The big gainers in the markets have been FIIs and HNIs, who added when the
markets were down, and had been consistent buyers during last one
year! With such immense optimism (read this), it is folly of common investors not to participate in the
growth now! With such a clear majority, growth-oriented budget and low hanging
fruits, environment cannot be more perfect for India to do well in coming
years.
Portfolio.
WE are staying put with larger part of the compounding portfolio. With
compounding happening, growth visible and low valuations, I think we are at
50cents to a dollar value presently. We have liquidated tiny part, which was of
slow moving/headwind-facing companies. Will keep this cash handy for use during
short term fluctuations. In case you need to understand about specifics, please
feel free to talk.
Etc...
I was invited to deliver a talk at CFA institute - New Delhi. You may watch the
video here or
read the text here. 
