When we were hiking in the Right Horizons offsite that was held in November 2011, I remember that every minute of the climb would appear pretty ok in terms of strain that one was undergoing, and the ground appeared fairly ok to climb – with not real apparent steepness, except at certain places. However, when the climb was over post the 30-45 minute trek and you reached the top; you turned to see some stunning views. More important, in the 30 minute trek, you had slowly but surely climbed some serious distance to the top was evident only from the peak and not from the intermediate points of the climb.
Since January 2012 to today, while it might have appeared that the market has indeed climbed and given good returns, just look back now and you know what has happened. YTD, the Nifty index has gained 20.33% and this has to be seen in the context of what has happened in the entire of 2011, since for the entire year we were down around 24% and in 45 days we are close to recover what we lost in an entire year. So you lose patience and do stupid things and the markets punish you on both sides. You take out money saying you always lose money in stock markets and then pulling a fast one on you by rising so fast that you would think that I could have waited.
Today’s session has been quite relentless in terms of rising nature of the market. Everyone is expecting a fall, and these are times where the market would surprise you on the upside too; jus the same way it did last year. When everyone expected the fall to stop at every lower level. He who has been just putting money and averaging at every level must be a happy and content man.
For now it looks like the Shewag blitzkerg, all the way. In a way it also looks like Diwali is coming in way to early for comfort, or you could also argue that it is still Christmas of 2011; better still the ongoing Chinese New Year. Happy New year.
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