When markets are rising, valuation discipline is the first casualty.In this episode of The Golden Thumb Rule,Srinivas Rao Ravuri, CIO at Bajaj Life Insurance, breaks down a question every investor faces—but few answer honestly:When is a stock simply too expensive to buy?This conversation cuts through narratives, momentum, and bull-market noise to explain:Why investors abandon valuation discipline during ralliesHow PE multiples quietly destroy long-term returnsWhen paying a premium for growth is justified—and when it’s dangerousWhy great companies can still be terrible investmentsHow entry price decides compounding, not storiesThe takeaway is simple and timeless:Growth matters—but price decides outcomes.If you invest in equities, this episode is a necessary reset.
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