The defining characteristic of mid-cycle is the withdrawal of monetary policy stimulus. Volatility rises during the period of transition, with equity returns being more modest during this phase, mirroring earnings growth.
Avoid euphoric valuations, keep cash for better entry points: Pankaj Tibrewal
Pankaj Tibrewal of IKIGAI Asset Managers finds current valuations too high for new investments. Defence sector valuations are especially prohibitive. Cement sector, particularly in South