Discover and read the best of Twitter Threads about #valuations

Most recents (14)

Lot of #AMCs come up with different ideas, themes, sectors.

These are demands from #Investors as they have done well in recent past.

AMCs are manufacturers & will offer what is in demand.

Final choice to say YES or NO lies entirely with Investors based on their #NEEDs
What should investors choose and what should they ignore. A point by point guide on where and why to invest in certain #themes, #MarketCap bias, #Sectors, #AssetClasses etc.

What should be criteria for these selections and what should guide them to resist from Investing?
Lets start with #Debt:

Keep enough money as 1 year of your expenses as #EmergencyFunds in #LiquidSchemes

You already have enough exposure to debt as:

1. #PPF
2. #TaxFreeBonds
3. #FDs

No need for separate debt allocation if you are investing thru #AssetAllocation (AA) or #DAAF
Read 16 tweets
From Jan 2018 to peak of #EquityMarkets on 18th Oct 2021, #SmartInvesting of @IamMisterBond underperformed #BuyAndHold only against #NIFTY50 but beat NIFTY Mid and Small Cap 100 by a big margin.

Post that, markets have been #volatile with downward bias Image
Results of Smart Investing v/s Buy & Hold under all Market Caps is for all to see - with 1) lower volatility, 2) beating results of Buy & Hold by big margins

#SmartInvesting switched to Equity in Mar 20 after downside protection and switched back to DAAF by Jul 20
3) Values under Buy & Hold have gone down substantially from Oct 2021 to Feb 2022 v/s values going down marginally under Smart Investing due to being in #DAAF, 4) Smart Investing portfolios better placed at current juncture to take advantage of market #volatility v/s Buy & Hold
Read 6 tweets
1/ Here's my 2022 and beyond #investing outlook (mostly covering #stocks) and general thoughts on the #macro backdrop, #markets, #valuations and #risk. Lot's of good analysis is publicly available, so will try to keep this brief and different.

"Navigating the Low Tide" Image
2/ Investing 101 Image
3/ Investing 201? Image
Read 47 tweets
Banking Sector!

A Thread.

#Banks #PublicBanks #PrivateBanks

(1/7)
Performance of Bank credit in last decade. Affected due to slowdown in industrial credit towards the second half of the decade.
#Bank #Credit #GDP

(2/7) Image
A triple blow!

1. A commercial credit downcycle due to capital downcycle.
#Bank

(3/7) Image
Read 7 tweets
#Pharmeasy - Health Tech #unicorn – to acquire Majority stake (66%) in #Thyrocare. Open offer for an additional 26% stake at Rs1300/sh. With this diagnostics bet, it completes its exhaustive portfolio of "Wholistic Outpatient Healthcare Ecosystem". (1/9) Image
Gujju Gang from Ghatkopar (as founders call themselves) make it big in what is first-ever acquisition of publicly listed firm by the unicorn. New funding tied up at #valuations of USD4bn. Promoters of Thyrocare will also be investing in Pharmeasy for 5% stake. (2/9)
Pharmeasy founders started as venture called dialhealth.com (2012-13) which failed, followed by Dial Health chain of retail stores which also failed. After 2 failed ventures, they moved to distribution business (& B2B) that was a success (2015). (3/9)
Read 9 tweets
Thanks for sharing 🙏. Loved it. Much to learn from both camps.
Reminds me of an anecdote which happened recently. Wanted to share some knowledge on how I value #lauruslabs
#Valuations by their nature are subjective so some of these will be opinions.
Someone recently asked me following:
#lauruslabs has publicly stated guidance of doing 1B$ revenue in Fy23, with 30% EBITDA margins. They calculated profits to be 2340cr in Fy23. So P/E based on Fy23 earnings would be 14.
Question: Is this cheap?
My Answer (Rest of the thread):
Philosophical: Valuations lie in the eyes of the beholder & are most difficult part of any investment thesis; personally. There is no single “valuation”. Each investor must make their own decision on how to value, what's cheap, what is expensive.
Read 22 tweets
Thread 🧵#StockMarket #Tips For Beginners 🇮🇳

In this thread find some stock market tips for beginners, especially those who have joined market recently during #COVID19 #lockdown and have only seen one-sided rally.

(If you like then please re-tweet to maximize reach)

#BSE #NSE
1⃣ Save Regularly & Initially Invest Small Amounts 👇

#Investing in #StockMarket is comparatively risky as compared to investing in other avenues. Hence start with small amount and it should ideally be the amount which you can afford to loose.

#BSE #NSE
2⃣ Initially invest via #MutualFunds 👇

It is the best thing to do initially, if you lack knowledge about #StockMarket #investing, start investing via mutual funds and only after learning the basics slowly jump to direct equity investing.

#MutualFundsSahiHai #MF
Read 12 tweets
Recently, Dr. Shiller suggested that #valuations really aren't that high once you fall in the #Fed trap of using #earnings #yields and #low #rates to justify it. The problem is it is a #rationalization to justify overpaying for #assets.
realinvestmentadvice.com/shiller-ecy-ju…
The main problem in using low-interest rates as a rationalization to overpay for assets is that you have to also discount #future #cashflows for lower inflation and rates as well.
realinvestmentadvice.com/shiller-ecy-ju…
"As low-interest rates went lower, the dynamic changed from using debt productively to using debt for non-productive purposes such as dividend issuance, share buybacks, and, in some cases, offsetting negative cash flows."
realinvestmentadvice.com/shiller-ecy-ju…
Read 6 tweets
#Goal Based Investing vs #PortfolioProtection Debate: Sharing my response to that debate: 👇

I have a totally different take in this Goal based investing and communication with Investors.
My 35 years of experience is showing me totally diametrically opposite conclusion to this. Only my observations, please ignore if you do not agree:

My belief is that Goal based investing is only good on paper and may be to get some discipline in Investment habits.
But unfortunately most Investors do not follow it. For example at current juncture, when they have existential crisis, how many will continue on the path of goal based investing? Many have stopped SIPs, many have withdrawn and redeemed.

What happens to their Goals now??
Read 6 tweets
#Shree Pushkar Chemicals & Fertilizers
Shree Pushkar #Chemicals & #Fertilizers Ltd is engaged in the business of manufacturing and trading of chemicals, #dyes and dyes intermediate, cattle feeds, fertilizers and soil conditioner.
Let’s have a look at the company’s business as well how well they have diversified. They have a well diversified business which is growing on all fronts.
Here is a breakdown of their #Fertilizer products as well.
Read 19 tweets
#Whattay Series. In this #tweet thread will keep adding a lot of #stock price moves, #valuations where you end up saying #WHAT. No Reco just ?? Do comment 1) #Relaxo Footwear - just 10% away from highs. Market Cap = 18319 cr Sales 2500 cr #Bata -18419 cr Sales = 3056 cr !! PE ?
No Effect of #Corona on this #RealEstate Company. A 30% rally from the lows in May June.Low delivery volumes and almost same volumes and a weird chart.. Anyways its an avoid so not naming it. Image
Another craziness in gone stocks - #Educomp , #OptoCircuits are up 5x from the lows of March. Another stock which has zero effect of #covid19 and does low delivery volumes. Image
Read 12 tweets
#WelspunCorp- Soon out of the Woods

#CMP - 60
#MarketCap - 1,565 cr
#Industry - Pipes & Plates
Biggest #COVID19 casualty

Post Jan2020, the #crudeoil prices collapsed 60-70%. The company has major dependence on global oil & gas players for its order book.
However, we feel Welspun Corp’s strong cash & investment position in the #balancesheet and very low #longtermdebt will help the company withstand the current turmoil and bounce back stronger.
Read 25 tweets
#valuations #GodrejProp
Godrej Properties, Consol. Networth
March 2009 Rs 299 cr,
March 2019 Rs 2469 cr
change Rs 2170 cr

Securities Premium (on account of capital raised)
March 2009 Rs 148 cr
March 2019 Rs 2695 cr
Change Rs 2547 cr
In 10 years, Networth change < Capital raised, meaning company has lost money for 10 years. It has reported profit every year but then there are adjustments to PAT! Net effect - negative earnings for 10 years.
Not paid dividend after March 2015. Has raised capital every 2 years. I havent included the latest raise of Rs 2100 cr in June 2019.

Yet trades at mind numbing valuations of almost Rs 24k crores.
Read 6 tweets
Já aconteceu isso com vocês? Você em t0 avalia uma empresa e no final (t1) não bate! Isso ocorre na maioria das vezes. Alguns fatores podem explicar isso: i) mercado realizou ganhos; ii) algum evento externo; iii) resultados de estatísticas oficiais (PIB, Inflação..); iv)... Image
...iv) manipulação/ajustes contábeis que reduziram lucros p/ abaixo do esperado (um dos pontos que mais gosto de analisar); v) mudança na governança (diretoria ou conselheiros de administração, fiscal ou comitê de auditoria); vi) conflitos entre controladores e minoritários;...
...vii) companhia resolve parar de publicar o guidance; viii) reformas equivocadas do governo; ix) piora do disclosure; x) twitt de Presidentes; xi) a lista não tem fim... Só alguns pontos para não ficarem decepcionados(as) com seus #valuations #valuation #contabilidade
Read 4 tweets

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