Inaction Better Than Action In IT Stocks, Says Kenneth Andrade

Kenneth Andrade, founder and chief investment officer of Old Bridge Mutual Fund, said he expects Indian IT companies to weather the disruption caused by issues like the H-1B visa fee hike and the US growth slowdown in the medium term. "Inaction is better than action, and this is the time to wait on it. These companies have been through multiple cycles of change, and I expect their financial muscle to help get through near-term pain," the veteran fund manager said.