“There is no harm in booking profits. So why are people scared of missing the bus? If you book profits now and things move up another 5%, how does it matter? If you have made 30-40-50% it does not matter so much. Long -term investors can never go exorbitantly into cash. So when we think there is overvaluation, we go 20-30% into cash and then as the opportunities keep on coming up, we keep on investing that money and that cycle goes on.”
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