Focus on risk-adjusted returns, not just absolute gains: Sandeep Tandon

​See, again, when there were signs of euphoria, we actually cut our exposure. Now, we are rebuilding our exposure, keeping in mind the valuation is great. See, the good part about PSU is that liquidity is amazing. They are fairly liquid names. ​See, again, when there were signs of euphoria, we actually cut our exposure. Now, we are rebuilding our exposure, keeping in mind the valuation is great. See, the good part about PSU is that liquidity is amazing. They are fairly liquid names.  Economic Times