I don’t understand the business models of Flipkart and Uber. See no logic in people saying business models like that of Flipkart will flourish but that of D-Mart will not.
The typical conditions for the birth of a bull market are here: you have a changed country, you have a deep fall in growth and everybody is perplexed by the rise of stocks.
You can never predict how market will react. You can model it. You may try to predict it, but weather and markets and risk, only God knows because only he has seen tomorrow.
These dire predictions of COVID are behind us. Covid is getting milder and people are learning to treat it better. The percentage of deaths is coming down. We are learning to live with it.
I think when markets go up and there is no manipulation in markets and people question the market going up and it keeps going up, that is a true bull market.
In India, one has to have faith in equity. What are the alternatives – real estate, debt? If debt can give you 6 percent, equity can give you 15 percent.
You know, a balance-sheet is like a bikini, it shows more but it hides what is vital. I learnt to read a balance sheet and then I got fascinated by stocks.
When people talk to you in such glowing terms, that is the time to be very, very alert because the worst of the mistakes are made in the best of the times.
You can’t make money on borrowed knowledge. If following Rakesh Jhunjhunwala was all it took to make money, a lot more people would be rich. It requires patience and you learn from mistakes.
