HDFC's Prashant Jain believes its a good time to buy stocks

Prashant Jain, one of the leading fund managers in the Indian Mutual Fund industry has put up a report on HDFCfund.com where he talks about how investors keep investing in bull markets but back off when the markets fall. He talks about equity and gold where investors typically got into markets during the bull phase and were not able to make any returns. In other words, he is saying that this is the best time to invest and he gives us many data points to prove one simple fact - This is a good market to buy. We agree with Mr. Jain. The market is at a PE multiple of less than 12x. The average P/E multiple for the Indian markets is around 15x. There are many other reasons why Indian markets are a bargain. Read the report for that.It's tomorrow that matters  Ila Patnaik has a brilliant column in the Indian Express where she argues that fuel hike is the first of many steps that the government has to take to rescue the economy. Pure unemotional economics state that the government has taken the right steps. But that may not be enough.Don't look. Leap