This equity cult is a covid phenomenon. Almost everyone who invested between 2020 and 2023 would have made profit or sitting in large portfolio gains. This has led to the belief that they are great investors.
Valuing a business is more of an art than a skill. It takes practice and patience to make decent money in the market. The Indian market is unbelievably over valued.
Do dipstick check, company profits have doubled in the last 4 years, their stock prices have gone up multiple times in the same period.
The profits/revenues have gone up as inflation has also gone up. This rise is not sustainable.
A wise man said - never mistake bull market for brains.