You want to read this post by Colin Seymour:
Read the full post to see what people said in various times. Nearly every time they said that the future looked better it got worse.
Where are we, in India, if this map were ours? Going by our series of pompous prognosticators, most of whom think that stocks are good “value” now and we should be buying after prices have gone this far down – I think we are around point 14. Are we going the same way? I don’t know – can’t predict anything – but we have similar statements being thrown.
The time has now come to deal with EPS growth on the Nifty – it is around 10% since the same time last year. The outlook for next year is bad. Interest rates are up. Inflation is up. We have a new election coming along, so no major policy moves. The next few months are definitely going to be bad – but will we recover after that? While I have my doubts, let’s wait and see. Meanwhile, don’t ask if this is the right time to invest. It’s not, unless you have a 10 day horizon.