When pain becomes relief
इशरत - ए - क़तरा है दरिया में फ़ना हो जाना दर्द का हद से गुज़रना है दवा हो जाना — मिर्ज़ा ग़ालिब (Aspiration of every drop of water is to get extinguished by immersing itself into the ocean. For a person who is hurt in love, extreme pain is the only relief.) I interacted with a small but reasonably representative sample of investors in the past few days. The interactions were in person meetings, discussions over telephone and WhatsApp chats. We discussed a wide range of topics that are current in investors’ memory. The idea was to understand their current outlook on markets. From my discussions I have concluded that currently a majority of investors are ambivalent about their investment outlook and strategy. They are perplexed, greedy, fearful and relieved all at the same time. The following are some random thoughts based on my latest interaction with a sample of investors. Some random thoughts It is customary to read and quote investment classics duri...