However, to keep expenses to the minimum, it’s advisable to stay away from investing in physical gold this year. If at all gold buying is non-negotiable, it’s prudent to invest in gold ETFs as they can be purchased and sold anytime. Also, they help you take advantage of intermittent volatility in gold prices. … [Read more...] about Festivities and your portfolio: how should you mange your money?
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The inverse of bond yield is the bond PE, which works to around 17x (100 divided by 5.9 percent). In the last 15 years, the average premium of forward PE over bond PE has been around 300 bps. Hence, till the time bond PE remains on the higher side, equity PE will also remain at elevated levels. The real threat to equities comes from the bond market. If global bond yields rise and inflation in India goes up sharply, then bond PE will fall leading to lower valuations for equities also. … [Read more...] about ‘More MF outflows seen if market keeps rising; BFSI stocks can outperform in next one year’
“As of now, Nifty is trading at a P/E close to 32x, which is almost a decade high valuation, hence, the risk-reward ratio may not be favorable. I am not a big fan of predicting numbers for the index, as we have seen in the past, at times the index remains flat, but individual stocks do very well,” says Jain of Ashika Wealth Advisors. … [Read more...] about Market cap-to-GDP ratio moves above long period average; time for caution?
A: The Make-in-India theme encompasses a wide gamut of initiatives, including import reduction and export promotion. While the initial thrust was to create growth and employment, it started getting traction due to the US-China trade frictions. Multinational companies started looking at alternate sourcing bases for exports. In this phase, while India did get some business, the bulk of the benefit went to countries like Vietnam, Thailand, Indonesia, Malaysia etc. The Government has declared packages for Electronics, Pharmaceutical sectors, and I believe that many sectors like Consumer Durables (AC, Fridges etc), Chemicals, Defence manufacturing etc. will get direct, indirect incentives in addition to tariff & non-tariff barriers. … [Read more...] about DAILY VOICE: Valuations of largecaps & polarization of market into top 10-20 stocks are biggest risks, says Mihir Vora of Max Life
Q. What were the data signs flashing in March that caused you to increase hedging and what are the signs flashing today that have caused you to increase your hedges?It is just the correlation between the fundamentals of a company and the price it is trading at. Right now, there is a lot of pain on the ground. Many promoters are talking about how badly they are doing but the stock prices are not reflecting it. We find it hard to be long on these companies. … [Read more...] about This is how True Beacon’s hedge fund outperformed the markets