I recently received an email and following is my reply
Hello Rohit,
I have a generic query regarding one of the stocks that has created a lot of buzz recently. Not sure, if you answer such Qs 🙂
Avenue Supermarkets (DMart) – This stock got listed at twice the IPO issue price. And, it is crossing new boundaries every week. There’s lot of positivity about this stock (like next Infosys etc) and founder Mr Damani (value investor) in market and news.
Its very difficult to resist the temptation to grab this opportunity but not sure if this is the right time. So should we consider this opportunity or just ignore it as temporary heat in the air.
Kindly advise if possible.
– i never chase hot trends in the stock markets
– i never buy momentum stocks, especially ones selling at high valuations
– i have never invested in retail companies as this is a very tough business.
i may be wrong here and this could be an exception to all my rules. maybe this stock will keep rising and people will make money. however i am fine with it …i dont need to make money in all opportunities.
so my short answer is – i have no plans of considering or putting a single paise in such opportunities and am fine if others make money. as far as temptation is concerned ..i cant help you there 🙂
i hope i have shared my views clearly …you have to make your own decision. dont hold me responsible if the stock doubles 🙂 …i am fine with letting go of such opportunities
regards
rohit
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Stocks discussed in this post are for educational purpose only and not recommendations to buy or sell. Please contact a certified investment adviser for your investment decisions. Please read disclaimer towards the end of blog.
