Today my portf goes home with quite a big single day dent :|
banks, nbfc, amc & insurance, all in one basket.
At one point of time 50% of my portfolio was VST Industries. I had seen single day drop of Rs. 10 Lakhs. That was when taxes on cigarettes was raised steeply. I used to celebrate those days, call my relatives and tell them my porfolio dropped by so much. My excitement was mainly because I added more shares on those days.
Let me tell you, later, I had seen a single day Increase of Rs. 20 lakhs in my portfolio due to the same share. I exited VST long time ago. Now I don't own any sin companies.
I am just sharing my experiences. What I want to tell is that this may prove to be a blessing in the long run.
Now let me also share my view.
But is this comparable to Financial Services industry of today? I do not know. I personally do not have a great opinion on India's Financial Services Industry. I may differ on this matter with many others on this forum. I believe that industry may have to go through a lot of pain going forward. I may be wrong as well. So, maybe you should diversify into contra sectors like consumer/pharma?
Unsolicited opinion? Please ignore it, then.