𝗜𝗡𝗩𝗘𝗦𝗧𝗜𝗡𝗚 𝗧𝗛𝗥𝗘𝗔𝗗
𝟮𝟬 𝗟𝗲𝗮𝗿𝗻𝗶𝗻𝗴𝘀 𝗙𝗿𝗼𝗺 𝗦𝗮𝘂𝗿𝗮𝗯𝗵 𝗠𝘂𝗸𝗵𝗲𝗿𝗷𝗲𝗮
-Collaboration is the essence of success.
-If you want to be a fund manager,you have to love reading diversified topics
-Reading helps to enhance your neural network to think deep.

-If you have more time for reading,you have less time for noise around you. So you are becoming better in focus,so your brain gets stronger.
-If you read same company’s annual report for 10 yrs you will find pattern and it will have more conviction in buying stocks.

-Look for companies : Where books are clean,Which are selling products and services which are essential & which can have monopoly (large market space).
-You can apply the above category in small cap as well as large cap stocks. If you rightly find these pattern,you make money.

-3 sectors : Airlines,steel and telecom : None of them have generated ROC above COC on a steady basis. So holding them for ages is risky business.
-Play to your strengths,dont buy what all are buying Buffetji also advocates this point. Most people just see things on social media

-There are 20-25 stocks which are so dominant in their industry that at whatever P/E you buy in our country,you most likely will make money. But,there are so many low P/E stocks that no matter at what price you buy,you will lose. Specially in Indian context its imp to understand

-In India you invest into cos from value perspective based on western parameters,you will eventually lose as our industry structure is different. Hence quotingBenjamin’s concepts may not work
-When you obsess with price of stock,its a signal that you dont know what are you buying

-You earn through stocks only when P/E moves up and earnings go up. There is no other way to make money even if you buy cheap stocks.
-Finance system and our financial education overhypes the concept of P/E which shockingly can be ignored while buying in Indian context.

-Focus on thinking,reading and introspecting rather than listening to noise on media and social media. You will become a better investor
-In 1997-9,80% of NBFCs went bankrupt & Saurabhji feels similar thing is going to repeat in yrs to come,we would witness massive consolidation

-Just because a famous trader or investor says something,don’t buy blindly. Do your research and study yourself to make money.
-ITC has scaled FFMCG really well,incredible brand but Saurabhji isin’t sure how it will compound 20% and hence after year of reflection they exited.

-To provide double digit growths in India especially for IT companies,it is really hard. You will make money but consistent attraction is less as compared to DMART and other stocks.Moreover they are not master of their own destiny as their revenues depend on Global demand more.

Heart filled gratitude for @_nirajshah ji and his bloomberg quint team to bring this wonderful conversation. I have just summed up it all for readers and hope learners would RT for a wider reach.
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#AKAL