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The Equitymaster Research Digest

We're Getting Closer to Sensex 40,000!
Jun 23, 2017

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No prizes for guessing the trending topic in Mumbai local trains these days.

Market related conversations on the morning commute are a daily affair. Every morning, I hear conversations of varying degrees of stupidity about stocks. I'll share a few of these in future editions of the Research Digest.

I believe, the key event was the Avenue Supermarts (DMart) IPO. It really fired up people's desire for easy money.

Folks who wouldn't even think of touching stocks just a few years ago, are now happy to gamble away their hard-earned money.

Alas, it has always been thus.

All around the world, retail investor participation, is widely tracked. It's not hard to understand why. When the aam investor enters the market in large numbers, the professionals start to think about selling. It's usually a sign of a market top.

Sad but true.

This is the reason why I worry about the party going on in the market right now. Everyone knows it won't last. But just like Cinderella, they think they'll get out before the end. Unfortunately, history says otherwise.

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