Good to see those comments I expected a mixed thought and it helps me in articulating my views. Let me repeat:

1) There will be one JaiCorp and one Unitech every year since there are 6000 listed stocks n BSE. But how many have benefitted from such stocks - financially.

2) I still feel that I we have not seen the best of the index. There is no euphoria, people are cautious. Index may double or triple from here but such a doubling will come at increased risk (PE expansion).

3) Unfortunately the market does not care about anyone whether he got in in 2001 or 2003 or 2007 or is just getting ready for his first punch tomorrow morning. People who did not get in in 2003 were wrong or maybe too young but unfortunately the clock does not turn backwards. We have to see forward.

4) Assuming that we were turned back into 2005 how much percentage of our portfolio would you have invetsed in a Jai Corp? Work out the returns with the intended percentage allocation.

5) I have chosen 2010 because I cannot see for more then 3 years. Sometimes it is just academic to talk about 2025.Also it is my deadline year.

6) When I talk of multibaggers I mean 5 times and above, 2 or 3 are not multibaggers but doublers or triplers!

7) Finally these thoughts are mine because I intend to be in stocks for more then 100% of my money (including leverage) whether the index is at 40k or back to 10k.

8) Also these opinions could change tomorrow as and when I see a multibagger with minimum downside and oportunity cost.(free hit). In 2003 there were no opportunity costs because the whole market was in the doldrums. My opportunity cost is the index returns or the return that HDFC bank creates year after year – 30%.