the PURSUIT of HAPPYNESS
The end of 2023 is reminiscent of the closing scene of the legendary Will Smith movie 'The pursuit of Happyness'. One line from the scene sums up what most market participants are feeling - 'This part of my life, this little part is called happiness'. Here is a link to the closing scene - https://www.youtube.com/watch?v=56fngopihOo. This movie is a must watch & although it is about the life of a stock broker yet it has nothing to do with stock markets. It is ironical that FY23 & CY23 have ended on a completely different note. Not many could have predicted such a drastic turn of events especially in the micro/small/mid cap space. A little bit of context is required here before we start calling this rise a 'bubble'. Indian economy was deeply stressed through 2013-2020 as NPAs in the financial system had bankrupted 70% of India's lenders. This led to only a select group of businesses scaling & thus performing on the bourses. Once banking was s
