Discover and read the best of Twitter Threads about #MICIN

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@in_morningstar Indian Economy in a Funk @sonalvarma10, @pranjulb, Samiran Chakraborty, @Ajay_Bagga at #MICIN, #MICDigital
#MICIN #MICDigital Services PMI, Rural Demand increasing but 7.5 mil jobs lost in Urban areas, Income inequality increasing, coupled with 10yrs investment stagnation and Balance Sheet issues of NBFCs, Households, etc. not able to spend to get economy up. Demand Side problem
Dip in India more so recovery also will be sharper. But for extended period our growth will lag global. Maybe Mar 22 we are back to Mar 20. Today we are 95% of pre-covid but that was one of worst points of our economy. So not encouraging sign.
Read 6 tweets
@in_morningstar #micin #MICDigital Session with Sanjoy Bhattacharya. Don't believe in sectoral investing. Not football 😆. Go with managements that are capable, value oriented and deliver growth.
@in_morningstar #micin #MICDigital Sanjoy Bhattacharya, Dont understand Value Investing. Any investment that one does is driven by the value of the investment. Own an investment that is sustainable, run by good management, value less than what it is worth.
And after investment follow it, Read Read Read. Cut out the noise (poor qrtly result for eg). And follow JM Keynes "When Facts Change I Change my Mind". Specially true in these times when environment changes, competition etc faster than the 70s, 80s or beginning of this century
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@in_morningstar A very engaging and thought provoking session with @Infosys_nmurthy. Listening to his journey and experiences as good as a management lesson. Thanks #micin #MICDigital
Some takeaways on Core Values for a Company, its Employees CEO and Board. Common => Values and Competence
Aspiration, Values, Sacrifice, Convincing, Articulation, Treading Untrodden path
Employee => Learning, Hardwork, Teamwork, Global Benchmarking
CEO => Leadership qualities, RA & Mitigation, Strategic, Communication, Out Of Box Thinking, Leaning from Competition, Integrity, Excellence in Execution, Articulating
Board Chair => Coach the CEO to Do Right Thing, Share Distilled wisdom to handle tough situations,
Read 5 tweets
Extinction is the norm, Survival is the exception.

Nature is not cruel, only pitilessly indifferent
- Richard Dawkins.

Capitalism is not cruel, only pitilessly indifferent
- Sanjay Bakshi

@Sanjay__Bakshi at #MICIN draws parallels between evolutionary biology & investing.
Black Swan Events will occur & catch us by surprise. When they do, Capitalism shall be pitilessly indifferent.

-ve: Death. Destruction. Extinction.

+ve: New players. Adaptation. Cost cutting. If we resist this or fight it, we risk going extinct.

@Sanjay__Bakshi at #MICIN
*It's impossible to avoid the impact of a -ve black swan. No matter how diverse your portfolio, it will get hit.

*Like nature, the market is a Pari Mutuel game (behavior of other players changes the odds).

*To thrive in the long run, you have to suffer in the sh term.

Read 6 tweets
Rupal Bhansali says it so well.

Rules of investing are not just different, they are asymmetric.

In investing, it is not enough to be correct. If there is a consensus there is no payoff.

So not only must you be right, you must also prove everyone else wrong.

So you score no points if you are correct, and the consensus is with you. But you also score negative points if you are incorrect.

Those penalty points are the albatross of investment capital. Which means, you can lose a lot of money if you get things wrong.

#MICIN Image
Momentum rallies tend to function like ponzi schemes. 🤣🤣

In a ponzi scheme, when money flows in, it tends to become a self fulfilling prophecy. When it flows out, it becomes a house of cards.

Read 5 tweets

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