Look at my last post. Arman (no matter how got it is runned) will and is getting impacted by the MFI cycle. I have tracked the company since last last 4 cycle (8 years+), it has become very predictable now. Only thing different about this cycle is that, despite knowing that the market is over-heated, the management didn’t slowed down the growth to an extent. But it still remains a very very well governed and managed company. Don’t look at the P/E or P/B now, it will compress further, optipically it looks better.
Disclaimer: I exited my 6 years old holding about two quarters back, but will look for opportunity to re-enter once the dust settles.
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