Agree with most points…
some observations:-
1)When I started constructing my portfolio in 2020 in Nifty 100 universe, i purposely avoided all PSU stocks like SBI, etc Also I avoided metal stocks like TATA steel etc. Then I avoided Infrastructure stocks, stocks like ITC …And to my surprise, all these stocks started performing in next 2 years, while the usual growth stocks took backseat. So when I started constructing my portfolio, my simple thought process was that if I avoid all these dud companies , i would definately get 4 to 5% alpha straighway, without applying too much brains and hardwork, time…And this has been a narrative all over the places, all Fund managers , all PMS managers says these things only. And these stocks behaved exactly opposite of what they are supposed to behave. Even Coal India performed good. Its like in last 2 years, Back benchers are getting distinction and front benchers are failing tests.
- Some Flexicap Funds like mainstream funds HDFC Flexicap, SBI Focused Equity fund have managed to beat Index over 3 years and 5 years period. Specifically NIFTY Next 50 INdex is pathetic with 5% CAGR in 5 years.
so sometimes i feel, some active intervention by main stream fund managers is panning out better than complete Index fund strategy.
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