Everyone remembers the bloodbath on Dalal Street in January 2008. But what panned out over the next one year was something which changed lives of many people who had the courage to take bets on great businesses.
With markets trading at a PE of 28, a correction was always on the cards. And correction, or rather a crash is what happened in January 2008. Markets (Sensex) tumbled down from 21000 to 8000 in a period of just 14 months.
It has now been almost 4 years since markets touched their bottoms in absolute terms (Sensex@8000) & rock bottoms in valuation terms (PE>12).
A few days back, a perennial Indian Bear (read Shankar Sharma) predicted that we might be heading towards 2008 lows. So just out of curiosity, we decided to analyse price performances of large cap companies (& a few smaller ones) since 2009. This exercise has no significance apart from the fact that it dispels the myth that only small and mid caps can give big returns in short term.
A few days back, a perennial Indian Bear (read Shankar Sharma) predicted that we might be heading towards 2008 lows. So just out of curiosity, we decided to analyse price performances of large cap companies (& a few smaller ones) since 2009. This exercise has no significance apart from the fact that it dispels the myth that only small and mid caps can give big returns in short term.
We have nothing more to add except that please do focus on numbers in Light-Red-Colored Absolute Returns column of the table.
The figures (in %) are free of typos, i.e. there are no errors in calculations.
We hope you got the hint 🙂
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| Since 2009 Lows… |
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| Click to enlarge |
To quote Joshua Kennon, “It was such a bizarre time. (In 2009) People lost their minds on the upside, and gave up all hope on the downside. Anyone with money (& courage) during these dark days got very rich.”
Note – CMP figures as of April 5, 2013
Disclaimer – Long term positions in few stocks mentioned in this post.
Disclaimer – Long term positions in few stocks mentioned in this post.
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The link shows the lowest price as 124.8!!
http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=TATAMOTORS
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There was a Stock Split which reduced Face value from Rs 10 to Rs 2. Hence the price shown by NSE needs to be adjusted for the split. Prices shown by NSE are absolute and do not consider stock splits or bonuses.
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