“If you see our (analysts’) track record in terms of predicting earnings, we have gone wrong, forget about the market,” he told CNBC-TV18 in an interview.
An SIP, on the other hand, will allow investors to average their investments regularly and forget about worrying the market or timing it, Shah said. “If you look at the overall growth story, it continues to remain solid.”
Still, for active stock pickers, Shah said one could back automobiles, private banks and IT companies only if they show proof of ability to transition to new-age business models.
Transcript to follow.