Even till a month ago, Nitin Rao was pretty optimistic about equities. “From overweight, we have moved to neutral,” says the soft-spoken CEO of Reliance Wealth Management. He simply describes the last four weeks as mayhem — one that saw the benchmark index coming off 10% from its August high to 34,950 as of November 5. What the fall does not reveal is that many large caps and mid-caps have come off by 30-50%. While the benchmark is currently trading at a one-year forward of 21x, Rao does not discount the possibility of it going down to a level of 15x.
Where the Rich are Investing 2018
Where the rich are investing
Despite volatility, equity and debt are still the darlings of the ultra rich, but the flavour of the season is clearly alternative investments
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