I wrote a post on volatile markets a couple of days back and said:
Is the market at a low? can it go to 15,000 – frankly I do not have an answer.
today I received a note from Prashant Jain and he has used exactly the same nos. and the same words..
It is just the thought process – do value investing, hold for a long period and you will make money. So when the thoughts are the same the words come out in a similar vein? The admiration was translated by investing in the schemes that he manages – even 10 years ago when he was not so famous…
In fact I told somebody about a fortnight back, I said ‘I am too dumb to look for new fund managers, so having put my money in your fund, I keep praying for PJ’s health and MB’s health!
Prashant’s note should not be difficult to find on Google or on the website of Hdfc mutual fund…read it and hold your sanity, you will reap the benefits of patience – over 5 years if not 3.
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