Pramod Gubbi of Marcellus Investment Managers said it's difficult to assess market behaviour, especially in the short-term given that there are so many events at play
Pramod Gubbi of Marcellus Investment Managers on Tuesday said valuations not at attractive levels to take positions.
He said it's difficult to assess market behaviour, especially in the short-term given that there are so many events at play.
"We believe we need another 10 percent of correction before we see enough margin of safety, particularly given the sort of negative catalysts that we are seeing both globally, as well as locally in the horizon," Gubbi said.
According to him, if liquidity is tightening locally and globally, that affects the trajectory of economic and earnings growth and then one will have to recalibrate what sort of valuations make sense from a fundamental perspective.
When asked from a portfolio standpoint, how he was rejigged holdings, especially with regards to financials, he said one should not paint all financial names with the same brush.Watch the video for more.