Share Market Basic - For Every Seller There is A Buyer..!
Mr. Ridham
Desai of Morgan Stanley at Morningstar Conference in Mumbai..
Some take aways
We have 40
years of BSE's SENSEX history and 100 has become 32,000 what more do you want?
We have had 4
bull runs…1979 to 1985, 1988-1992, 2003-2007, 2008-2017
The 2008-2017
current bull run is the slowest, most boring bull run. Not as sharp as the
other bull runs…
He said the
reason why people get good returns in equity is that during the deep draw downs
you need to keep silent and quiet.
People say
‘market is driven by Liquidity’…
Mr. Ridham said
“For every seller there is a buyer” – so money never comes into the market or
leaves the market.
He said force
of the buy or force of the sell – bid and offer – decides whether it is a buy
driven market or a sell driven market (this is awesome read it again)
Valuation: If
earnings are low, PE will look high (again awesome). When Earnings go high, PE
will look low. Once RD says this, it looks obvious, but not so intuitive.
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