Dear friends:
with the stock markets falling they way they are, one feels, are we again going to see the levels of October 2008?
well, from a high of 21000 - in Jan 2008 to a low of 7800 in October 2008, many of us had lost so much, we were just licking our wounds, then slowly over the next 1 year, the sensex rose to 17200 some 10 days back and now at around 15500 today.
to make sense of this all in my head, my sense is that in the falling markets, I have taken a calculated risk and invested in value stocks like Praj Ind, guj nre coke, neyveli lignite, oil india tubular, ruchi soya and hindalco, i think they were available at an affordable price as of now.
but if the markets fall further in the next one week or so from now then though I would be very tempted to buy some blue chips at good affordable prices, I will have to hold my horses, mainly because, I would have lost quite a lot on my existing portfolio and will not be able to afford mounting losses and it would not be wise to put all my eggs in one basket( the stock markets) - I would look at alternate vehicles other than the stock markets in such bearish conditions!
Happy Investing!
Your's Truly,
Ibrahim Casubhoy
Casubhoy Trident - Investments & Realty
Email:ibrahim.casubhoy@casubhoy-trident.com
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