Naaah i'm not in the odd boat...i dont buy stocks with PE's above 15....i consider it verry risky...i will buy if Centum starts selling
The only stock I bought recently with a 'high' PE was DTK at 14...even ARM I bought with a PE of 10.1...2008 taught me a good lesson,my 'longterm' buys then were valued at an average PE of 16(NSE was at around 4800-4500 points then)and I took almost a 60% hit...albeit temporary,its nothing to joke with.(if I had not played around with my portfolio I would just be breaking even right now!!!)
I dont know what people are trying to prove buying stocks for longterm with PE's of over 20..unless from a purely aggressive speculative stance where losses are limited to around 6%...you cant win.
The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.