Today's good habits will make you wealthy, healthy, and a good leader in your later years. It starts early, grows with consistency, and matures with time.

One more banger from the ET Alpha Wealth Summit! People pay a 70x P/E multiple for a business growing at just 10%. Then, later, the P/E of the company falls to 30x, with a correction in its price. Then investors blame the company rather than their own biased judgment of overpaying. Valuations mean-revert over time. That's why even popular, high-quality businesses that thrived in recent years have corrected and disappointed investors. Some of the finest mega-cap, high-quality businesses now look extremely attractive after the correction. He has bought certain companies for the first time in 25 years in his fund because they were previously expensive.

🚨 𝗜𝗻𝗱𝗶𝗮'𝘀 𝗚𝗿𝗲𝗮𝘁 𝗕𝘂𝗹𝗹 𝗠𝗮𝗿𝗸𝗲𝘁 𝗜𝘀 𝗢𝘃𝗲𝗿: 𝗟𝗼𝗼𝗸 𝗮𝘁 𝗢𝗹𝗱 𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝗼𝗻𝘀 𝗼𝗳 𝗠𝗮𝗿𝗰 𝗙𝗮𝗯𝗲𝗿 The famous Swiss economist, Marc Faber, known as Dr. Doom, has made another statement. He says India's great bull market is over. Previously, he was bullish on India in 2003. 𝗟𝗲𝘁'𝘀 𝗟𝗼𝗼𝗸 𝗮𝘁 𝗛𝗶𝘀 𝗢𝗹𝗱 𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝗼𝗻𝘀. 1️⃣ 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟬𝟯: Faber predicted that India would perform well over the next 10 years. ✅ What happened? India witnessed a remarkable long-term wealth creation journey. 2️⃣ 𝟮𝟬𝟬𝟳: He warned investors about significant downside risks in US equities. ✅ What happened? The S&P 500 crashed approximately 57% from its 2007 peak to March 2009. 3️⃣ 𝟮𝟬𝟬𝟵: He warned that US money printing would lead to hyperinflation. ❌ What happened? Hyperinflation never materialised. 4️⃣ 𝟮𝟬𝟭𝟮: He predicted a 20% fall in US equities. ❌ What happened? The S&P 500 jumped by 16% in 2012 and another 32% in 2013. 5️⃣ 𝟮𝟬𝟭𝟯: He warned of a possible 1987-style market crash. ❌ What happened? The S&P 500 rallied almost 30% in price terms that year. 6️⃣ 𝟮𝟬𝟭𝟰: He again warned about a potential 20–30% US market correction. ❌ What happened? The S&P 500 delivered a 14% total return during 2014. 𝗡𝗼𝘄, 𝗖𝗼𝗺𝗲 𝘁𝗼 𝗢𝗰𝘁𝗼𝗯𝗲𝗿 𝟮𝟬𝟮𝟲 Faber believes Indian equities are already in a bear market. He suggests reducing equity exposure and increasing cash holdings. But this is where I have a different perspective. Experts can correctly identify overvaluation, excessive optimism and economic risks. 𝗕𝘂𝘁 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝘆𝗶𝗻𝗴 𝗥𝗶𝘀𝗸 𝗮𝗻𝗱 𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗶𝗻𝗴 𝗮 𝗠𝗮𝗿𝗸𝗲𝘁 𝗖𝗿𝗮𝘀𝗵 𝗔𝗿𝗲 𝗧𝘄𝗼 𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝘁 𝗧𝗵𝗶𝗻𝗴𝘀! Imagine someone exiting equities in 2012 after listening to his bearish prediction. How much wealth creation would that investor have missed? I am not saying Marc Faber will be wrong this time. He could be right or wrong. But... 𝗣𝗲𝘀𝘀𝗶𝗺𝗶𝘀𝗺 𝗠𝗮𝗸𝗲𝘀 𝗦𝗲𝗻𝘀𝗲, 𝗕𝘂𝘁 𝗜𝘁'𝘀 𝗢𝗽𝘁𝗶𝗺𝗶𝘀𝗺 𝗧𝗵𝗮𝘁 𝗠𝗮𝗸𝗲𝘀 𝗠𝗼𝗻𝗲𝘆 𝗪𝗵𝗮𝘁'𝘀 𝗬𝗼𝘂𝗿 𝗩𝗶𝗲𝘄? Sources: Business Standard, Rediff (26 Sep 2003), S&P 500 historical returns.

Fir kya! Took an OD and applied for one lot in the HNI category of Jio Platforms. 😂 Sorry, Benjamin Graham! #JioPlatforms #IPO

𝗪𝗵𝗲𝗻 𝘁𝗵𝗲 𝗦𝘁𝗿𝗲𝗲𝘁 𝗧𝘂𝗿𝗻𝗲𝗱 𝗡𝗲𝗴𝗮𝘁𝗶𝘃𝗲 𝗼𝗻 𝗜𝗧, 𝗦𝗼𝗺𝗲 𝗙𝘂𝗻𝗱 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀 𝗗𝗶𝗱 𝗦𝗺𝗮𝗿𝘁 𝗦𝗵𝗼𝗽𝗽𝗶𝗻𝗴 You might be aware of my old views about deep valuations in the IT sector. Many times, I shared my views and how PPFAS increased its stake in IT companies recently. Everyone was swayed by AI disruption and the dismal outlook for Indian IT companies. No doubt those views made valuations in the IT space more attractive. Let's have a look at some numbers. 𝗙𝗶𝗿𝘀𝘁, 𝗟𝗼𝗼𝗸 𝗮𝘁 𝗜𝗧 𝗦𝗲𝗰𝘁𝗼𝗿 𝗪𝗲𝗶𝗴𝗵𝘁 𝗶𝗻 𝗠𝘂𝘁𝘂𝗮𝗹 𝗙𝘂𝗻𝗱𝘀: 🔹 Dec 2021: 13.40% 🔹 Dec 2024: 9.24% 🔹 Dec 2025: 7.60% 🔹 Sep 2026: 5.30% The allocation has fallen by 8.10 percentage points from its 2021 peak. No doubt the IT index also saw a huge correction during the same period. IT holdings also declined from ₹3.98 lakh crore in December 2025 to ₹2.97 lakh crore in September 2026. 𝗡𝗼𝘄, 𝗟𝗼𝗼𝗸 𝗮𝘁 𝗪𝗵𝗮𝘁 𝗛𝗮𝗽𝗽𝗲𝗻𝗲𝗱 𝗶𝗻 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟲: Based on changes in shares held by 44 tracked AMCs: 📉 Estimated Net IT Selling: ₹3,729 crore ➖ 24 AMCs reduced their holdings. ➕ 17 AMCs increased their holdings. Interestingly, not everyone was selling. 𝗪𝗵𝗶𝗰𝗵 𝗔𝗠𝗖𝘀 𝗪𝗲𝗿𝗲 𝗕𝘂𝘆𝗶𝗻𝗴 𝗜𝗧? 🔹 Invesco Mutual Fund: ₹568 crore 🔹 Quant Mutual Fund: ₹281 crore 🔹 HDFC Mutual Fund: ₹51.8 crore 🔹 PPFAS Mutual Fund: ₹8.2 crore 𝗡𝗼𝘄, 𝗟𝗼𝗼𝗸 𝗮𝘁 𝗙𝘂𝗻𝗱𝘀 𝗧𝗵𝗮𝘁 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝗱 𝗧𝗵𝗲𝗶𝗿 𝗜𝗧 𝗔𝗹𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻 𝗢𝘃𝗲𝗿 𝗢𝗻𝗲 𝗬𝗲𝗮𝗿: 🔹 Quant Large Cap: +18.85 pp 🔹 Quant Large & Mid Cap: +10.79 pp 🔹 Taurus Mid Cap: +8.25 pp 🔹 Quant Flexi Cap: +7.91 pp 🔹 Parag Parikh Flexi Cap: +7.18 pp 🔹 TRUST MF Multi Cap: +7.13 pp 🔹 Tata Mid Cap: +6.20 pp 🔹 Quant Multi Cap: +5.84 pp 🔹 Sundaram Large & Mid Cap: +5.77 pp 🔹 Taurus Flexi Cap: +5.10 pp These one-year changes are based on data through July 2026, not September. It means Quant aggressively increased its IT allocation. What I found convincing was that, from July onwards, IT majors like Infosys, TCS, Wipro, HCL Tech and Tech Mahindra were trading at a big valuation gap compared to their five-year medians. I believe that investing opportunities often emerge when pessimism is high. But cheap valuations alone cannot guarantee superior returns. 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗥𝗲𝘄𝗮𝗿𝗱 𝗖𝗼𝗻𝘃𝗶𝗰𝘁𝗶𝗼𝗻 𝘄𝗵𝗲𝗻 𝗜𝘁 𝗜𝘀 𝗕𝗮𝗰𝗸𝗲𝗱 𝗯𝘆 𝗘𝗮𝗿𝗻𝗶𝗻𝗴𝘀 𝗮𝗻𝗱 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻𝘀. What's your view? Sources: Prime Database data reported by The Economic Times; ET Money; Fund Tracker India. 𝘋𝘪𝘴𝘤𝘭𝘢𝘪𝘮𝘦𝘳: 𝘛𝘩𝘪𝘴 𝘤𝘰𝘯𝘵𝘦𝘯𝘵 𝘪𝘴 𝘧𝘰𝘳 𝘦𝘥𝘶𝘤𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘢𝘯𝘥 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺 𝘢𝘯𝘥 𝘪𝘴 𝘯𝘰𝘵 𝘢𝘯 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘳𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢𝘵𝘪𝘰𝘯. 𝘔𝘶𝘵𝘶𝘢𝘭 𝘧𝘶𝘯𝘥 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵𝘴 𝘢𝘳𝘦 𝘴𝘶𝘣𝘫𝘦𝘤𝘵 𝘵𝘰 𝘮𝘢𝘳𝘬𝘦𝘵 𝘳𝘪𝘴𝘬𝘴. 𝘞𝘦 𝘢𝘳𝘦 𝘢 𝘚𝘌𝘉𝘐-𝘳𝘦𝘨𝘪𝘴𝘵𝘦𝘳𝘦𝘥 𝘗𝘔𝘚 𝘋𝘪𝘴𝘵𝘳𝘪𝘣𝘶𝘵𝘰𝘳, 𝘈𝘗𝘙𝘕-06071.

There are times when you are correctly invested, and there are times when you are too early. If we had known that COVID would bring cheap valuations, why would we have invested fully in 2018!! Investing is never arithmetic; it's a lonely business. — Sankaran Naren, ICICI Pru

Rajeev Thakkar of PPFAS correctly said that one should keep strict control over lifestyle inflation. Spending habits should never shift all of a sudden from roadside chai to premium hotels. He suggests that one should build a corpus equal to 25 times annual expenses. It will allow a 3–5% withdrawal rate to sustain retirement. A simple way to achieve FIRE, as many opt for the same nowadays.

𝗛𝗼𝘄 ₹𝟭 𝗖𝗿𝗼𝗿𝗲 𝗕𝗲𝗰𝗮𝗺𝗲 ₹𝟭𝟱.𝟰𝟱 𝗖𝗿𝗼𝗿𝗲! This is stunning 19.85% annualised refund by CARE PMS Growth Plus Value Strategy. 🔹 Inception: 19 July 2011 🔹 Initial Investment: ₹1 Crore 🔹 Annualised Return: 19.85% 🔹 Estimated Value as on 31 August 2026 is ₹15.45 Crore That's nearly 15.45 times wealth creation in approximately 15 years! Wealth creation requires the right strategy, conviction and patience. 𝘿𝙞𝙨𝙘𝙡𝙖𝙞𝙢𝙚𝙧: 𝙋𝙈𝙎 𝙞𝙣𝙫𝙚𝙨𝙩𝙢𝙚𝙣𝙩𝙨 𝙖𝙧𝙚 𝙨𝙪𝙗𝙟𝙚𝙘𝙩 𝙩𝙤 𝙢𝙖𝙧𝙠𝙚𝙩 𝙧𝙞𝙨𝙠𝙨. 𝙋𝙖𝙨𝙩 𝙥𝙚𝙧𝙛𝙤𝙧𝙢𝙖𝙣𝙘𝙚 𝙞𝙨 𝙣𝙤𝙩 𝙖 𝙜𝙪𝙖𝙧𝙖𝙣𝙩𝙚𝙚 𝙤𝙛 𝙛𝙪𝙩𝙪𝙧𝙚 𝙧𝙚𝙩𝙪𝙧𝙣𝙨. 𝙒𝙚 𝙖𝙧𝙚 𝙖 𝙎𝙀𝘽𝙄-𝙧𝙚𝙜𝙞𝙨𝙩𝙚𝙧𝙚𝙙 𝙋𝙈𝙎 𝘿𝙞𝙨𝙩𝙧𝙞𝙗𝙪𝙩𝙤𝙧 (𝘼𝙋𝙍𝙉-𝟬𝟲𝟬𝟳𝟭). 𝙁𝙤𝙧 𝙚𝙙𝙪𝙘𝙖𝙩𝙞𝙤𝙣𝙖𝙡 𝙥𝙪𝙧𝙥𝙤𝙨𝙚𝙨 𝙤𝙣𝙡𝙮.

Worth watching this podcast, feats Ajay Sharma. Are huge mutual fund inflows creating valuation pressure in Indian stocks? Warrenty Buffet's "Buy and hold forever" doesn't work any more. youtu.be/cffpAnh0CcY?si=KNG6…

𝗝𝗶𝗼 𝗮𝗻𝗱 𝗔𝗶𝗿𝘁𝗲𝗹 𝗖𝗼𝘂𝗹𝗱 𝗕𝗲 𝗪𝗼𝗿𝘁𝗵 𝗠𝗼𝗿𝗲 𝗧𝗵𝗮𝗻 𝟰 𝗡𝗶𝗳𝘁𝘆 𝟱𝟬 𝗜𝗧 𝗚𝗶𝗮𝗻𝘁𝘀 𝗖𝗼𝗺𝗯𝗶𝗻𝗲𝗱: 𝗪𝗵𝗮𝘁!! 🤯 I am bringing you an eye-opening truth. Don't just check the GMP of Jio Platforms. 𝗟𝗼𝗼𝗸 𝗮𝘁 𝗧𝗵𝗲𝘀𝗲 𝗡𝘂𝗺𝗯𝗲𝗿𝘀! 🔹 Market Cap of Nifty: ₹184.89 lakh crore 🔹 Bharti Airtel: ₹11.70 lakh crore 🔹 Jio Platforms*: ₹12.61 lakh crore 𝗖𝗼𝗺𝗯𝗶𝗻𝗲𝗱 𝗧𝗲𝗹𝗲𝗰𝗼𝗺 𝗩𝗮𝗹𝘂𝗮𝘁𝗶𝗼𝗻: ₹𝟮𝟰.𝟯𝟭 𝗟𝗮𝗸𝗵 𝗖𝗿𝗼𝗿𝗲! This is equivalent to 13.15% of the total market capitalisation of Nifty 50 companies. 𝗡𝗼𝘄, 𝗟𝗼𝗼𝗸 𝗮𝘁 𝘁𝗵𝗲 𝗜𝗧 𝗦𝗲𝗰𝘁𝗼𝗿 𝗶𝗻 𝗡𝗶𝗳𝘁𝘆 𝟱𝟬! Four Nifty 50 IT giants: 🔹 TCS 🔹 Infosys 🔹 HCL Technologies 🔹 Tech Mahindra Combined Market Cap: Approximately ₹19.4 lakh crore. 𝗪𝗵𝗮𝘁 𝗮 𝗠𝗮𝘀𝘀𝗶𝘃𝗲 𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲! Just TWO telecom giants could be worth around ₹5 lakh crore MORE than FOUR of India's biggest IT companies combined. 𝗜𝘀 𝗧𝗵𝗶𝘀 𝗧𝗵𝗲 𝗕𝗲𝗴𝗶𝗻𝗻𝗶𝗻𝗴 𝗼𝗳 𝗮 𝗡𝗲𝘄 𝗘𝗿𝗮 𝗳𝗼𝗿 𝗜𝗻𝗱𝗶𝗮'𝘀 𝗧𝗲𝗹𝗲𝗰𝗼𝗺 𝗦𝗲𝗰𝘁𝗼𝗿? 𝘕𝘰𝘵𝘦: 𝘑𝘪𝘰'𝘴 ₹12.61 𝘭𝘢𝘬𝘩 𝘤𝘳𝘰𝘳𝘦 𝘷𝘢𝘭𝘶𝘢𝘵𝘪𝘰𝘯 𝘢𝘴𝘴𝘶𝘮𝘦𝘴 𝘢 𝘩𝘺𝘱𝘰𝘵𝘩𝘦𝘵𝘪𝘤𝘢𝘭 ₹250 𝘭𝘪𝘴𝘵𝘪𝘯𝘨 𝘱𝘳𝘦𝘮𝘪𝘶𝘮 𝘰𝘷𝘦𝘳 𝘪𝘵𝘴 ₹1,119 𝘐𝘗𝘖 𝘶𝘱𝘱𝘦𝘳 𝘱𝘳𝘪𝘤𝘦 𝘣𝘢𝘯𝘥. 𝘋𝘪𝘴𝘤𝘭𝘢𝘪𝘮𝘦𝘳: 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘯𝘰𝘵 𝘢 𝘣𝘶𝘺 𝘰𝘳 𝘴𝘦𝘭𝘭 𝘳𝘦𝘤𝘰𝘮𝘮𝘦𝘯𝘥𝘢𝘵𝘪𝘰𝘯. 𝘞𝘦 𝘢𝘳𝘦 𝘢 𝘚𝘌𝘉𝘐-𝘳𝘦𝘨𝘪𝘴𝘵𝘦𝘳𝘦𝘥 𝘗𝘔𝘚 𝘋𝘪𝘴𝘵𝘳𝘪𝘣𝘶𝘵𝘰𝘳, 𝘈𝘗𝘙𝘕-06071.

Jio Platforms is oversubscribed. Let the market fall. I fear history may repeat itself.