Evergreen returns demand an investing discipline
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In a valuation obsessed world, itâs as true as ever that expensive stocks can get more expensive, and cheap stocks can get cheaper. The perceived lunacy of share prices in a toppy market has got the better of many astute stockpickers, at the expense of returns.
âYou donât want to short something on valuation grounds and sit there waiting, because thatâs a great way to torch a lot of capital along the way if you donât have a catalyst,â says hedge fund manager Omkar Joshi.
Fund manager Omkar Joshi is a believer in earnings and good management, leaving it to others to make (or lose) money from concept stocks.Â