Some take aways:
- We have 40 years of Sensex history and 100 has become 32000 – what more do you want?
- We have had 4 bull runs…1979 to 1985, 1988-1992, 2003-2007, 2008-2017
- the 2008-2017 current bull run is the slowest, most boring bull run. Not as sharp as the other bull runs…
- He said the reason why people get good returns in equity is that during the deep draw downs you need to keep silent and quiet.
- People say ‘market is driven by Liquidity’…
- Ridham said “for every seller there is a buyer” – so money never comes into the market or leaves the market.
- he said force of the buy or force of the sell – bid and offer – decides whether it is a buy driven market or a sell driven market (this is awesome read it again)
- Valuation: If earnings are low, PE will look high (again awesome). When Earnings go high, PE will look low. Once RD says this, it looks obvious, but not so intuitive.