If you are into investment and want to choose the company which will become a multibagger, then at Indian-Share-Tips.Com we will always go with the growth as compared to the valuation.
So, do not lose your sleep about valuations, but rather look for the possibility of growth slowing down in companies. Do not purchase a stock if the rate of growth was lower than expected, even if it was available at a cheaper price.
We have at times given a pass to stocks for investment if we feel that the growth in the stock is getting moderated and we may even book a loss and exit timely.
It is also important not to have a buy price or say cost price in your excel as it can cloud your judgement about the stock. This helps you to take a correct decision about the stock. Remember that the cost price of a stock is not a relevant factor in your portfolio management or decision-making process.