A rally without spine?

The Nifty is trading at a P/E over 23 - well above the discount for 15% EPS growth

Devangshu Datta 

Devangshu Datta The Reserve Bank of India (RBI) uses multiple surveys to assess consumer and expert expectations. It doesn’t publish too much detail about the way these surveys are constructed. So, we must take the rigour on trust. One set of surveys involves professional forecasters. Another involves consumer and household expectations. The professional forecasters are asked questions about macroeconomic trends. The questions to consumers range around inflation expectations, employment, spending plans, etc.  Such surveys could have large error factors — at several levels. Survey ...

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A rally without spine?

The Nifty is trading at a P/E over 23 - well above the discount for 15% EPS growth

The Nifty is trading at a P/E over 23 - well above the discount for 15% EPS growth The Reserve Bank of India (RBI) uses multiple surveys to assess consumer and expert expectations. It doesn’t publish too much detail about the way these surveys are constructed. So, we must take the rigour on trust. One set of surveys involves professional forecasters. Another involves consumer and household expectations. The professional forecasters are asked questions about macroeconomic trends. The questions to consumers range around inflation expectations, employment, spending plans, etc.  Such surveys could have large error factors — at several levels. Survey ... image
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