Returns will be much more modest from here: Motilal Oswal's Raamdeo Agrawal

Legendary investor Phillip Fisher once said: “It seems logical that before even thinking of buying any common stock, the first step is to see how money has been most successfully made in the past.” Motilal Oswal Financial Services has been conducting wealth creation studies for a quarter-century to see how money was made in the Indian stock markets. On the occasion of the 25th edition of the report, company chairman RAAMDEO AGRAWAL speaks with Vishal Chhabria and Sachin P Mampatta about investing amid uncertainties around the pandemic. Edited excerpts:

Wealth creation studies have been going on for a long time. What