Financial Daily from THE HINDU group of publications
Friday, Apr 07, 2006
Financial Daily from THE HINDU group of publications Friday, Apr 07, 2006 |
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Life
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People Markets - Financial Services
Investor psychology: When the markets are rising, investors think we'll make more and more money and keep buying. When it falls they turn fearful and keep selling. On the bull charge: Markets by their very nature are supposed to be like this; they are never expected to be stable. There always will be speed or speed breakers! Advice for retail investors: Be focused on the long term, because in the short term there will be volatility. This is the fourth year of bullishness, which has come after long. Of course earnings growth is there, but the period of fabulous gains is over. Find stocks with reasonable valuations. Sectors recommended: PSU banking, cement, sugar and select infrastructure and two-wheeler stocks with PEs around 10 -12 or less. Types of investors: There are three kinds of investors — validators, delegators and self-motivated. The validators take our advice but do their own investment; the delegators delegate the responsibility to us, and the self-motivated buy through us but don't ask for advice and take their own decisions based on their own inputs.
Long-term equity outlook: Good, but be very selective. Have at least a two-year horizon; buying today and expecting money tomorrow is going to be very difficult. Stress: It's a mindset; some people work for four hours and become stressed; some people work for 16 hours, and are relaxed and cheerful. Dream for the company: By 2010 we'd like 10 per cent of the market share; right now it is 5.5 per cent. Religion: A practical person, I believe in Jainism but not in a fundamentalist way that you swear by what is written in the books. But I'm a strict vegetarian Jain and there are no onions or potatoes in my house. I don't drink or smoke. Biggest challenge: To create a very strong team of people, train, motivate and of course retain them. Any business is nothing more than managing people and their expectations. In a booming market the biggest challenge is to get the right people and retain them.
Rasheeda Bhagat
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