Deepak Venkatesh Profile picture
Dec 25, 2019 6 tweets 2 min read Read on X
1/n This reminds me of my visit to a very senior IAS officer's *huge* office on Parliament street few years ago.

Myself a Venkatesh & a colleague called Swami waited outside the office at the mercy of a peon to pay a visit to the IAS officer.

Cc: @dmuthuk
2/n

After like 20-30 mins we were ushered in to his cabin. The cabin was larger than perhaps most meeting rooms I had seen in my life. After a while the officer marched in from the left.

We straightened up.
3/n

We have our visiting cards to the officer after the regular pleasantries. He glanced and kept it aside. My colleague Swami started with the pitch - the problem statement & help required.

The officer listened nonchalantly.
4/n

After we had finished the officer pulled himself towards the table where we seated opposite him cleared his throat and said...
5/n Tum Madrasi sab kitna bhi PhD le lo desh toh UP Bihar ke log chalate hain.
And then went onto have the discussion we intended to have. At the end he said - now to solve your problem rush to to Dwarka in 15 mins to meet another guy. Hurry up. Run.
6/n

The best part was Swami & I were not Madrasis.
One was from Bihar and the other also from the north

But we didn't utter a word.

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More from @deepakvenkatesh

Jun 10, 2021
*DO READ or LISTEN*

Very Critical

1/ Adding somethings which I have done in this thread. Maybe not the perfect thing but helps.
2/ Get your nominees set up. Super important.

And let those nominees know. How?

Make a consolidated mail for them. And tag that mail in their inbox. For instance my wife has a tab "DV" & color code it. Do this for your sibling & parents if possible
3/ MY NSDL CAS statements get forwarded to my wife and her statement to mine. I have maintained sporadically though CAS statements in a google drive folder to which both of us have access. As investors your close ones should know every single investment you have.
Read 7 tweets
Oct 4, 2020
1/n

A short thread on Indian Household Finance

Percentage of Households having exposure to equity

USA
Direct stock
60s 40%
80s 25%
90s 17%

MFs
80s 70%
90s 43%
(Lynch)

India
One of the lowest in the world at ~14% as per MOSL vs 45% of US.

Whereas RBI quotes <10% in Jun 20.
2/n

We are close to 80% invested in Real Estate and drowning in unsecured debt.
3/n

Only 13% save for retirement

And over 50% think their children will help in retirement
Read 12 tweets
Sep 29, 2020
1/n

Short notes from the book 'Dead Companies Walking' by Scott Fearon.

I think this is a must read book for all investors to understand when to stay away from a company even if you don't want to short it. Image
2/n Things go wrong more often than they go right. Failure is actually a natural - even crucial - element of a healthy economy. And the people who are willing to acknowledge that fact can make a hell of a lot of money.
3/n One of the most enduring & important business traditions is failure
Read 25 tweets
Sep 25, 2020
1/n My investing process which is quite manual & achingly slow given that I get only a few hours a day & weekends

Rule1: Handwritten & filed in folders like below

Always have most of the documentation printed & filed. Ignore the stocks please.
2/n

Rule 2: An Investment checklist. Printed & filed in hand (snapshot below)

For the company in question as well as appropriate competitors
3/n

Rule 3: Have a Page 0. This I have learnt at work. I keep updating it if I come back to the company. Screenshot below.

Everything is given objectively as trend except the reason to reject the idea
Read 10 tweets
Sep 15, 2020
1/n A look at the oldest companies & earliest traded stocks
The 1st stock exchange was established in 1602 in Amsterdam. It was made by the Dutch East India Company, chart below
The south sea bubble of 1720 can be seen. The company lasted under 2 centuries & finally went bankrupt Image
2/n Another company traded in Amsterdam was The Dutch West India Company which also went into bankruptcy in late 1700s. In the chart below we can see both the Tulip mania & the South Sea Bubble. Image
3/n But these two companies are no match for the oldest companies which exist till today. They could have merged. Some are listed via the new parent too. The types are:
Read 8 tweets
Jul 10, 2020
1/n The term Coffee Can is being used to market funds these days. Professional fund management is more about selling & less about returns today

Some learnings from my father who has held stocks since the 80s & 90s and is the person who got me interested in this investing project
2/n Being a govt doctor working on the field most of the time he rarely put in effort to do any detailed analysis. He tried his hand at a business & failed miserably. Went back to job.

His learning - give money to people who can run businesses efficiently.
3/n You can never create a business in 1-2 years. It takes decades. So why do you think you will make returns in a few months? He bought stocks with the expectation that for 5+ year nothing would happen.

This is what the world's richest man says & does.
Read 14 tweets

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