Saurabh Mukherjea, the founder of Marcellus Investment Managers, is of the view that it is not very easy to make money around events like general elections.

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“I am not so convinced about is the merits of buying the Nifty. In the last 5-10 years, buying the Nifty has not been a clever idea because you have not got returns commensurate to the cost of capital,” Mukherjea said on Wednesday.

"However, one can look at buying high-quality franchises like Marico, HDFC bank that have consistently given healthy returns," said Mukherjea.

According to Mukherjea, Asian Paints has been a long term wealth compounder.

"The franchise remains as strong as it has been. So rather than buying Nifty, or weak balance sheet companies, our preference is to put our money, our clients’ money to work on companies like mentioned above."

With regards to autos, he said, "If one wants to make money by investing in a company like Maruti then one needs to figure out when the auto cycle will revise. Correction in the stock price is not enough reason to buy the stock and make returns on it."

Talking about his expectation from the monetary policy tomorrow, Mukherjea said, "We had expected a 50 basis point rate cut in the last policy but MPC delivered a 25 bps cut, so the remainder may come through tomorrow."