What a recovery it has been for the markets. Just a year ago, the Sensex crashed to 8160 points. Now its trading above 17000 points. More than 100% growth in just a year. No other sector (gold, PPF, debt, realty) would give you that kind of growth. When the markets were down last year and i was talking about the opportunity to buy into some good companies, many of my friends dissuaded me from doing that.
“Buy when everyone sells and sell when everyone buys” is probably the only way to make money in the market. Following the heard mentality is sure to give a lot of heart pain in the long run.
The exhilarating bounce from the lows that the Indian equity market touched on 9 March 2009 is now a year old—and what a year it has been. These 12 months have been a wildly profitable time for those brave souls who held their nerve and bought stocks, while it has been a missed opportunity for those who thought it was a short-lived bear market rally and thus preferred to sit on cash.
The benchmark Bombay Stock Exchange Sensitive Index, or Sensex, closed on Tuesday at 17,052.54, up 109% over a year ago, though just about nobody believes the next 12 months will be as good.
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Above picture courtesy: Livemint