I-Sec’s Vinod Karki’s big picture view on macro, global macro and equity valuation

“Look at internet companies last year. They did not have even earnings basically but the outlook was looking great. People kept bidding up the prices and we have to look at where the demand is coming from. So things will keep getting expensive but basically one has to be there in the early part of the cycle. In order to ride out the entire cycle, it is very difficult to take valuation calls in areas where the growth is looking to go bust.”