DSP Mutual Fund

ETMarkets Smart Talk: A further 8-10% correction could bring large caps to fair valuation: Sahil Kapoor of DSP MF https://lnkd.in/g_i8RYew

Are you overestimating market valuations? We have all the insights in our latest Netra report: dspim.co/NetMar25

Samjhe guru? Phir Like thoko 👍

Samjhe guru? Phir Like thoko 👍

The Transcript's latest edition is out now! In our 2nd Foundations issue, we explore the recurring cycle of excess and forgetfulness - driven by the tendency to forget, ignore, or rationalize extreme. What is DSP Transcript? It is a compilation of observations & comments from AGMs/ Concalls/ Interviews/ Presentations. Read here: dspim.co/TransMar25

Rare- Core Inflation > Headline Inflation Rarer- Core CPI to drop below 4% while overall inflation falls lower #DSP5things Sahil Kapoor DSP Mutual Fund

At our recent Business Valuation Masterclass, where we help investors master the nuances of equity valuations, Bhavin Gandhi shared his expertise with a select group of investors. The session provided valuable insights into DSP's equity investment process, the discipline behind portfolio selection and the principles of intelligent investing. Here's what Viraj Anil Patil had to say after attending the masterclass

An overdue deep correction owing to peaking margins, slowing topline growth, expensive valuations & muted corporate earnings - sounds familiar? With a sharp 15-20% correction across all market caps, a lot of valuation froth seems to have been washed off but yet to truly reflect the current corporate earnings and growth. Painful as it is, the correction is good for the long-term health of capital markets, but yet far from over. This is validated by – ·  Market breadth (technical and statistical indicators) tilts towards a full bear market, though still some distance away. ·  The median valuations in Small & Midcap stocks is still higher than the long-term averages. While large-caps seem more reasonably priced today, small and mid-caps (SMIDs) are likely to correct further. This is because SMIDs had a considerable deterioration in earnings growth and now the funds flow to SMIDs is drying up and even reversing as flows chase performance, falling into a vicious down spiral. Most bear markets experience elevated volatility index readings when they decline sharply, however that has not been the case in the current cycle which suggests that the volatility is yet to capitulate. But not all the flags are red anymore – ·  Fundamentals (Leverage) – Though P&L Accounts need to pick up, corporate balance sheets are in better shape than any of the previous market cycles. ·  Liquidity – The RBI is quietly enhancing market liquidity in massive doses through a combination of policy actions and market interventions. Though such actions take time to take full effect, the RBI's commitment to supporting growth is to be noted. Gold continues to be promising, but now Silver seems fundamentally undervalued and attractive for an extended up-move. However, note that singularly, each asset class can have significant drawdowns & down periods in their respective market cycles. Mixing of asset classes (asset allocation) with uncorrelated behavior leads to lower drawdowns during periods of market risk. This asset allocation approach improves ‘margin of safety’ for investors, allowing them to avoid behavioral traps, remain invested for longer and compound investments better! So, what should you as an investor do? ·  Move from a ‘conservative’ to a more ‘moderate’ portfolio positioning ·  Look at equity allocation through SIPs or moderate risk categories like large-cap or hybrid funds ·  Avoid aggression and SMIDs for now if you don't have the risk appetite for it In light of the normalizing valuations, only long-term investors can generate strong returns if they have capital, courage and conviction! You can read more in this month's edition of #DSPNetra: dspim.co/NetMar25

What would you do if you found a deadly cobra under your airplane seat mid-flight? How you react in moments of crisis matters more than you think. Read this blog by Ehsanur Rohman and the investing lesson to it : dspim.co/3FkZ7Q5

Imagine starting your day surrounded by nature's serenity, learning about patience and growth. That's how 75 MFDs spent a morning with us, at the BNHS Conservation Education Centre in Mumbai, exploring "The Art of Learning from Our Environment." It was a powerful reminder that the best lessons often come from unexpected places and that patience, adaptability, and long-term growth are key, both in nature and investing. We remain committed to fostering a stronger, more informed community of distributors through such meaningful initiatives.