Sir John Templeton said that the four most dangerous words in investments are “It is different this time”. I am sure we have heard this a million times! “India is growing at 9%”, “There is no alternative for international funds” FIIs are looking for growth. At this growth rate, India is cheap! Correct please remember asset prices fluctuate – it goes up, it goes down, it stays horizontal for a long time – we do not know how long!

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