If you don’t have over 50% of your investment in new-age stocks, you are doing injustice to your portfolio: Ajay Srivastava

economictimes.indiatimes.com:

Ajay Srivastava, CEO, Dimensions Corporate Finance Services, says “the Indian market is about momentum investing. This market is about new stories coming out. This market is about government spending themes. So, you would waste your time if you buy value in this market. Value can go on forever to not be recognised and really speaking at PEs of 25 and 30s, except for banks, it is really difficult to find value. So, forget value.”
Markets are doing much better than what everybody thought at the beginning of the year.
Well, yes. The answer is yes. But if you look at the vast majority of people who have got invested in largecap funds and who got invested in the banking fund, for them it has not been a good year at this point of time. There are big pockets of market which have done reasonably well or quite well or exceedingly well in that order in the midcaps and smallcaps but if you look at the vast universe of money invested in the largecaps, that has been a very disappointing year for them and we keep saying it is going to repeat itself next year and that is the sad irony that a large portion of funds of retail public are not making even a decent return.

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The general market has done very well for most investors; most PMS portfolios and individuals may have done extremely well but the general public which invested in largecaps had been left disappointed and we have seen what has happened to the banking index in any case. One needs to bifurcate the market saying exceedingly