Category: General

Research Universe Page Updates

As requested the research universe page is updated

Research Notes 2014/5 2016 2017 2018 2019 2020 2021 2022-2024
Aarti Drugs Link
AIA ENGINEERING LTD
AJANTA PHARMA LTD Link1
Link2		 Link Link Link Link
AMBIKA COTTON MILLS Link
ASHIANA HOUSING LIMITED Link Link Link Link
Link2		 Link Link
ASIAN GRANITO Link
ASTRAL POLYTECHNIK Link
ATUL AUTO Link
AVANTI FEEDS LTD Link Link
BAJAJ FINANCE Link
BAJAJ FINSERV Link Link Link
BALAJI AIMINIES Link
BELLAMY (International) Link
BITCOIN (CRYPTO) Link
Brigade Enterprises Link
BSE Limited Link Link
CANFIN HOMES Link
Link2
CERA SANITARYWARE LIMITED Link1
Link2		 Link Link
CRYPTO Link
DMART Link
E2E Networks Link
EROS International Link
FRESHTOP FRUITS Link1
Link2
Godrej Properties Ltd Link
GOLD Link
GRANULES INDIA LIMITED Link Link
GRUH FINANCE LIMITED Link Link Link
HAVELLS INDIA Link
HDFC BANK Link
HELIUM (CRYPTO) Link
IIFL HOLDINGS Link
INFIBEAM Link
IPCA LAB Link
ITC Link
JAGRAN PRAKASH Link
JM Financial Link
KITEX GARMENTS LTD* Link Link Link
LAOPALA Link
Link
LEEL Electricals Link
Link2
MANUGRAPH INDIA Link
MAX INDIA Link
Link2
MOIL Link
NBCC Link
Neuland Labs Link Link Link
NOIDA TOLL BRIDGE Link1
Link2
Oberoi Realty Ltd Link
PAGE INDUSTRIES Link
PAYPAL INC Link
PHOENIX LAMPS Link
… Read the rest

How to avoid cost price bias?

this blog is alive

The focus would be active Indian investing here, while substack would continue to focus on passive Indian and any global investing

I am tracking my investments using google spreadsheet, sample below

there is an issue with this.

it anchors me to price paid for the stock and I ignored if the stock is doing well or not relatively. The cost price bias has given me a false sense of comfort it promotes Endowment effect, I lose objectivity in analysis.

I posted this on twitter on BAJAJ Finserv

 

As an existing holder like me who is holding the stock from lower levels, because of way I track portfolio (cost price driven), I will miss that the stock has done nothing for last 3+ years

This approach misses the

  • huge relative underperformance even against index, let alone other stocks
  • opportunity cost of not deploying capital effectively

So I think we should listen to William O Neil and not track portfolios like this, here is what he wrote in his book

 

“To help you avoid the price-paid bias, particularly if you are a longer-term investor, I suggest you use a different method of analyzing your results. At

… Read the rest

Also Writing on Substack

Update August 2024

Susbstack is a great platform for newsletter writers, so I thought I will move by blog there however, it still lacks many features that are on WordPress based on my 3-4 months with platform

So I will keep this blog … Hooray!!

 

 

__________________________________

 

 

Moved writing to substack, all existing email subscribers have been moved, and people who were following WordPress to read content on this site have to now follow this substack (there wasn’t an automated way to do it)

All old posts are already there & upcoming posts will be posted there as well, I was not able to move your comments  those will be archived safely

This site may be deprecated and repurposed, I am extremely grateful to you for reading this blog from 2011 and I hope I can continue to get your time once I start posting on substack

Happy Investing

 

 … Read the rest

Premium is now taking new subscribers

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EDIT – 30-SEP-2021

WE ARE BACK

Become a

Supporter (AUD $199) 1 year

Bigger Supporter ( AUD $299) 2 year

In short span we would be announcing some of other items that will be added to other premium for supporters

 

 

Score Card / Premium will not be taking any new subscribers in the current format from 25th June 2020. We are working on a new pay as you like and ad supported model to be unveiled in 2022
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For existing patrons there is no change – You will continue to get updates on score card changes / book reviews / Annual report reviews / international ideas in your current format, however you … Read the rest

5 years of Score Card

A friend suggested to keep track record of companies bought and researched didn’t knew that small request would age into 5 years

Some hits and missed but overall faith in active investing remains

 

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The small investor’s edge

Back to my first ever post small is BIG

Over last decade I saw in front of me power of small investors. Small investors are often ahead of institutions

This got me thinking how we can leverage small investor’s power on a modern platform ?

Result – our new facebook group

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ideas on NSE , BSE , ASX , NASDAQ , NYSE, FTSE

 

Looking forward to see you inside … Read the rest

Cleaning Pandemic Opportunity

Most governments would mandate below to corporate offices/places of business which are opening-up

COVID-19 spreads through respiratory droplets produced when an infected person coughs or sneezes. A person can acquire the virus by touching a surface or object that has the virus on it and then touching their own mouth, nose or eyes.

A key way you can protect workers and others from the risk of exposure to COVID-19 is by implementing appropriate cleaning and disinfecting measures for your workplace.

A combination of cleaning and disinfection will be most effective in removing the COVID-19 virus.

Until a vaccine is produced deep cleaning will be a norm.

So what’s required to clean and disinfect these large corporate offices?

EPA’s website has a list of cleaning products that can be used and there are more than ~420 of them. On closer examination, one would find that Quaternary Ammonium is the most commonly used compound for general cleaning and disinfecting

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… Read the rest

Master class from Neville Noronha of Dmart

Reading transcripts of Neville Noronhna is a master class in understanding retail market dynamics, D-Mart’s company culture and insight into building a fantastic business

Here are some gems, my notes in red

On Opportunity size 

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Kitex Garments – Earnings Power Updated

Another year gone, Got my hands on Kitex Annual report and updated the Earnings Power Box. Lets look at how the company has fared

Before you proceed, its better you go through this post so that you are familiar with terms used below

kitex-2

The Accrual EPS (or reported EPS) saw an increase of 11% while the Defensive EPS declined by 30% and Enterprising EPS declined by 4%

What led to such a sharp decline in Defensive EPS ?

While the company’s purchase of fixed assets reduced by 80% (INR 7.37 Cr Vs INR 31.7 Cr) the working capital increased by INR 47.7 Cr (Last two years they had reduced their working capex). Most of the additional investment is due to the fact that Accounts receivable has increased by 50% and current liabilities have not kept pace with it. Not sure if  company had a significant change in credit policies.

 

Even with a decline in Defensive EPS, the company continues to be in wealth maximisation quadrant

kitex-3

Some other titbits of from Annual report which I found interesting

  • Last year annual report claimed that there capacity was 5.5 lakhs pieces of infant wear per day, this year it’s called out as
… Read the rest

Model Portfolio – Year 2 – Review

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