'Human judgment will remain essential to generate alpha'

Model-driven vs human-led portfolios? I continue to believe that in an inefficient market like India, human understanding will remain essential for generating alpha. It will be needed even more in the mid- and small-cap segments, which have now grown significantly in terms of AUM (asset under management) and the breadth of stocks available. Model-driven investing can only become a reality when the underlying data and data collection processes are robust and consistent, which is not the case for the Indian market. In a market where the unorganised sector remains substantial, data collection r

This article was originally published on October 23, 2025.