For the first time in many years, I did not feel the pinch when the market indices were sliding on thursday and friday (first half). I think now there are serious takers for mid caps and small caps. I bought one small cap as it was going too cheap and my dividend yield was working out to be over 5%. I sold out on one stock booking losses and bought another(one I already own) with that money. It means one less stock to watch. With the addition of that one small cap stock, I have now the same number of stocks as before. I always felt that fewer the annual reports I get, better I can read them. What say?
Now can i hear you guys asking which small cap?, I can drop a few hints. (1) It is trading below book value (2) It has no debt (3) The promoter has recently announced a buy back offer at a price above the current market price. Come on, put that grey matter to some serious work. I do have some concern though on small caps. The season, or should I say, the fancy for small caps comes once every 5 to 6 years. So my patience will definitely be tested. Maybe, I become a better investor that way. So let us just see!
As for the markets, I think we should have a good December. The broadbased movement in the market is a good sign. Last weeks narrow range also is a good sign. So all the best for a good rise!!

With the change in weather, I was just beginning to take things easy and enjoy the onset of winter. Markets were in correction mode. I drew up my plans to make some purchases. Then this bounce! Markets are more confusing than ever. But then, when were we ever given a clear view to market trend?!
Some of my stocks have delivered good results. Even with the one (of course, it is a mid cap) where results were very ordinary, the stock price seems to be climbing. I guess, mid caps is the flavour of the season. I have always been a conervative as far as stock selection goes. This has resulted in me owning a number of FMCG stocks. For the moment, I am enjoying the ride!
Last week I mentioned about the hospitality sector. It has started moving. With the holiday season beginning and markets reasonably better than last year, I am sure, hotels will sell better. There is however, one thing that stands out. Markets are now very unforgiving. High valuations in frontline realty and infrastructure stocks have been given the treatment. But I feel one should keep an eye open for good quality infrastructure stocks. If valuations are reasonable, then one can make a go for them.
I am still recovering from the mistake I made when I sold a lubricants stock, which has delivered hige returns after I sold out. Anyone to give me company on that?!

Markets have been busy! 17400 levels for the sensex was a great achievement after the steep fall we have seen earlier this year. But now what! Is this fall to 16000 levels an onset of a major market fall or just another round of correction? I do not know! I think fund managers are busy evaluating their strategies and churning their portfolios. They made huge percentage gains in infrastructure and telecom stocks last few years. Now the yester year laggards have started moving, especially in the mid cap segment. FMCG stocks which were boring are suddenly looking hot! But is liquidity enough for the fund managers to take large positions in them? Maybe they are doing just that! Shifting their monies from real estate and infrastructure to defensive stocks. A closer look at these stock prices shows that the fall of over 1000 points in the sensex has not taken any sheen off them. They have hardly corrected. I think it is time to be very choosy about our stocks!
I sold one "lubricants" stock and that has delivered stupendous returns in terms of stock price after I sold out. I guess I have to be more patient and give more time for my investment to grow having been so fussy when choosing them. Anyway, I still hold on to what I have bought at lower levels. The index is very misleading. There is still a lot of activity out there. The markets are far from what we call "boring" !! Look out for the hospitality sector, maybe they are the next ones to show marked improvements in their numbers!!