Build books when time is your friend.

Market sentiment is a poor driver of long term investing.

Election euphoria is hardly new to the Indian markets. We routinely go through the emotional highs and lows from the swings of politics. Markets always act irrationally when the source of euphoria is political. While there is no escaping from the euphoria, every investor must find ways of effectively dealing with it. If the markets get overly optimistic, one should be ready to stand apart from the herd. Mental preparation and patience should be in play as one should slowly sell when there is buying madness. If the madness is on the sell side, one must learn to buy. Either way, one must be prepared to be a contrarian. Importantly, a contrarian should not be in a hurry and must pace his actions calmly. One must raise the pitch as the euphoria peaks. Your sensible actions must counter-synchronise with the madness all around you. That is the challenge before investors in the coming days.

Investment strategy: Remember, this is a build year. Invest where you see value.

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