LEARNINGS from Naren Sir Interview
Best Statement (1/5)
Beauty of LONG UPCYCLES that people forget rationality & beauty of LONG DOWNCYCLE is that people forget growth
Best Statement (1/5)
Beauty of LONG UPCYCLES that people forget rationality & beauty of LONG DOWNCYCLE is that people forget growth
Naren Sir on Value (2/5)
Value has seen 12-year downcycle
Cumulative holding of FPIs in metal sector as on March 31 is less than 1.5%
Metal stock in India: 1 lakh cr sales but m-cap 30k cr (mkt leader in world)
Pipe co in India: 5k sales but m-cap > 10 cr
Value has seen 12-year downcycle
Cumulative holding of FPIs in metal sector as on March 31 is less than 1.5%
Metal stock in India: 1 lakh cr sales but m-cap 30k cr (mkt leader in world)
Pipe co in India: 5k sales but m-cap > 10 cr
Naren Sir on Contra Sector Bets (3/5)
Contra-bets metal, capital goods, power sector & some financials (telecom & pharma did well)
Top 5-10 cos in entire world are trading at absurd valuations (>50x)
Consolidation in various sectors is happening (telecom played out)
Contra-bets metal, capital goods, power sector & some financials (telecom & pharma did well)
Top 5-10 cos in entire world are trading at absurd valuations (>50x)
Consolidation in various sectors is happening (telecom played out)
Naren Sir on Consumption (4/5)
Consumption has seen 12 yrs upcycle & only 3 months downcycle with >60 TTM PE
Quality cycle has played out for so many years that it can have downcycle for 2-3 years
These are cos which haven’t showed growth in last 2 quarter, but yet P/E expensive
Consumption has seen 12 yrs upcycle & only 3 months downcycle with >60 TTM PE
Quality cycle has played out for so many years that it can have downcycle for 2-3 years
These are cos which haven’t showed growth in last 2 quarter, but yet P/E expensive
Naren Sir on Telecom (5/5)
Still room for ARPUs to grow in telecom (ARPUs still same what was 10 years back)
Telecom has seen 12 year of downcycle & have seen just 1 year upcycle
Still room for ARPUs to grow in telecom (ARPUs still same what was 10 years back)
Telecom has seen 12 year of downcycle & have seen just 1 year upcycle
JUST LOVE THIS STATEMENT: Beauty of LONG UPCYCLES that people forget rationality & beauty of LONG DOWNCYCLE is that people forget growth
