Well this is completely different from my portfolio (Deep Value Portfolio) whose aim is to buy the companies cheap even average one is okay. Sometimes I have bought even dubious ones, (and they gave me the pain). Regardless I have been able to do great with these till now. Eventually I see that the more sustainable growth is by owning great companies, but they need to be at fair valuations!!
I would like to buy good companies out there but not okay paying 30x + pe multiples on them. Valuing a company with 20-25 perc OPM at 10x sales is not okay for me(hello FMCG firms).
I think good companies in India currently have extremely large premiums on them. Historically many of the above companies have traded at half there current valuations (they had more runway for growth before than now).