Ganeshram Jayaraman on where to look for margin of safety this year
“Sectors which have otherwise leveraged demand like autos or property or capex cycle dependent could be where they have been recommending for two and a half years. We need to figure out if those would see some earnings downgrades as the year goes. It will start off with valuations getting impacted. Eventually earnings will shore up as an impact may be two-three quarters later but markets will be ahead of it.”
