New Delhi, June 27 -- Veteran investor Vijay Kedia mentions that every bull run follows a familiar cycle, from opportunity to optimism, euphoria, correction, and eventually a new opportunity again. Understanding this pattern can help investors avoid chasing expensive assets and make better long-term investment decisions.

In a post on X on 26 June 2026, Kedia explained that while the asset class, investment theme and market narrative may change over time, the underlying pattern remains remarkably consistent.

According to him, investors who understand this cycle are better positioned to grab the next opportunity.

Kedia summarised the journey of every major asset class in one line:

"Opportunity > Optimism > Narrative > Euphoria > Correct...