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@suru27

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Deep Gandhi

@DeepGandhi21

Oct 24, 2020

@utpalsheth

A very good session by @utpalsheth Sir and moderated by @iRadhikaGupta Ma'am. It was an hour-long session and had lots of good points. Summary of important points from the Session (🧵👇)

Utpal sir started investing after 12th grade, his father was PM at JM in the late 70s, and pioneer of the process-oriented research process. He used to have a conversation about investing with him and always found it fascinating so, after 12th exam, he joined ASK.

Story on how he met RJ:

Met him outside ASK office when he used to be a consultant for United Breweries for shareholder value creation. He overheard RJ speaking to someone about him buying a block in UB and will sell once it doubles. Utpal told him that it can be 10x.

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Deep Gandhi

@DeepGandhi21

Oct 3, 2020

Read quarterly investor letter of Solidarity Investment Managers and provides good insights on when to sell or enter a stock, Why to sell positions in a staggered manner and why not to wait for a company to report dismal earnings and then sell immediately? (🧵👇)

When to Sell?
4 situations – When made a mistake or when facts and/or thesis changes, due to risk mgmt reasons, when target price reaches in case of special situations. But the most difficult is to sell those companies which have good growth opp. but trading at euphoric valuation

We hear lot of FMs talking about selling early as most common mistake among all, but we need to keep in mind survivorship bias which might be into play here and so to determine if one is following a good process – one should focus on PF returns and not individual stock return.

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Deep Gandhi

@DeepGandhi21

Sep 23, 2020

@Camsonline

Time for a long read on the origins and journey of a Company which became the largest MF RTA and is coming out with its IPO @Camsonline

My first attempt at writing a long thread on Twitter. (Thread 🧵👇)

1/n CAMS was founded by V Shankar, he is a graduate from the Indian Institute of Technology, acquired a Master’s degree in business administration at the Indian Institute of Management, Calcutta, and was working for the fast-moving consumer goods (FMCG) major, Ponds India Ltd.

In 1987, Ponds was taken over by Unilever. Policies changed, many were not comfortable with the transition and left. Shankar was one of the early ones, putting in his papers by end of 1987.

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Deep Gandhi

@DeepGandhi21

Sep 12, 2020

@varinder_bansal

Attended a webinar on Brokerage industry moderated by @varinder_bansal. Lots of insights about the industry and must-listen for those who are invested in this industry or are tracking it. Highlighting some important points from the discussion. (Thread👇)

The biggest enabler of Discount Broking success in the Indian market was online onboarding of account which previously was a cumbersome process and that was protecting traditional brokers and was moat for those who had more branches.

But this got disrupted after E-KYC started, and majorly all the business growth for discount brokers happened after 2016 due to this reason.

Eg –Zerodha had 1,00,000 customers in 2016 and today have around 30-35 lakh customers.

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Deep Gandhi

@DeepGandhi21

Jun 15, 2020

@acquirersx

Listened to this podcast by @acquirersx with @JohnHuber72 . A great podcast covering a variety of important topics, highlighting in the below thread some key points. (Thread👇)

On the importance of Writing blogs:

Was a great compounder for him in terms that after writing for years, when he started managing public money, many people came on board due to his regular blog writing and helped him in finding like-minded investors.

And, also helps in identifying the flaws in ideas which become clear only once written somewhere.

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Deep Gandhi

@DeepGandhi21

May 10, 2020

Read interviews of Seth Klarman by Jason Zweig in 2010, and another of Late Parag Parekh in 2001. Always love finding common themes and connections between what I read. In the below thread, highlighting 2 common points highlighted by both of them.

Seth Klarman, being value investor, but not shying away to sell early if the price of the asset reaches its real value faster than what he had expected it to and not clinging on to it for long term.

Quoting his exact words " If we buy a bond at 50 and think it’s worth par in three years but it goes to 90 the year we bought it, we will sell it because the upside/downside has totally changed. The remaining return is not attractive compared with the risk of continuing to hold."

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