Nooresh Merani Profile picture
Sep 12, 2020 4 tweets 2 min read Read on X
A quick take on new #SEBI Norms. 1/NLike it was mentioned yesterday - Lot of things can happen. 1) A Multi-Cap Fund may merge itself with a Large & Midcap Fund or any other category. 2) Outflows from Multi-Cap Funds to #LargeCaps which reduces the theoretical buying in #smallcaps
2/N 3) Close the Fund which may not be viable. Nobody likes losing AUM. 4) Another creative Solution or Loop. The Fact is #Smallcaps cannot digest 5000 Cr of Liquidity Gush, forget about 27000 cr. But all the solutions will lead to AUM leakage which AMCs may not like !!
N/N The LargeCap Polarization got accelerated by the categorization of Stocks by SEBI. Now that stance is shifting and that is where a lot of MFs will slowly start re-aligning to Smallcaps selectively. Bottomline -Do not go rush buy or sell stocks coz of the Circular!
Will maybe write a long post or a video in coming days after doing a little more work. One big shift I see - going forward the case for Direct Equity Investing gets a Big Push! Easy Acces to Trading, 25% is Mobile Trading, etc - more on that soon.

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More from @nooreshtech

Jul 10

A few interesting snippets from different notes.

1) DIIs narrowing the gap with FIIs.

Can we see DIIs>FIIs in coming years ? Image
2) #India narrowing the gap with China in MSCI weightage Image
3) Last 5 years Sensex Growth= Earnings Growth

Valuations Expensive or Justified? Image
Read 10 tweets
Dec 31, 2023
Setting the Stage: World Indices Setup for 2024

AEX - NetherlandsImage
ASX All - AustraliaImage
ASX 200 - AustraliaImage
Read 23 tweets
Dec 1, 2023
10 Most Interesting Videos on the CFA Society India Channel.

Take your time and go through them. Would recommend attending the physical events too.

1) Brave New World | Ritesh Jain, Co-founder, Pinetree Macro.
He spoke about the liquidity way of investing, Tracking the global liquidity flow across past decades, how liquidity impacts economies, market returns based on liquidity.
2) Dimensions of Mistakes in Investing |
Utpal Sheth, CEO & Senior Partner, RARE Enterprises. He spoke about importance of overcoming natural instincts in investing, focusing on the long-term strategic picture, and sizing bets to match one's conviction.
Read 11 tweets
Sep 20, 2023
#NiftyMicrocap250 - An interesting thread.

Lot of discussion on this to show how stretched #Microcaps are.
up 65-70% since March
Represents Top 250 cos beyond Nifty 500. ( Not exactly Microcap)

History of less than 2 years.

It also has an ETF by MotialOswal. Image
1) The Constituents tell you the Story

Look at the Top 10 Constituents.

Many of them have gone up big time in the last few months. But historically had a lot of sideways periods. Image
2) The Sector Constitution

Capital Goods is at 22%
Financials at 13%
Healthcare at 9% Image
Read 4 tweets
May 17, 2023
#FlashBack Thread.

17th May 2004 - #BlackMonday LowerCircuit Day.

Started learning Technicals from @nsfidai just a week or two before this event.

Remember him and his friend discussing how markets are heading lower irrespective of results.

Let's see what happened.
#IndianElections & the Impact.

#Nifty fell almost 20% in a single day. Closed 12-13 % lower.

Down 32% from April to May. Peak to Bottom.

On Close 24% fall.

#BJP lost elections.

Remember the "India is Shining " Campaign.

Learnt Lower Top Lower Bottom Pattern ImageImage
#Global Impact of Indian Elections.

#US Markets fell by 6-7% in April-May 2004.

Was down 1% on 17th May 2004. Image
Read 11 tweets
May 16, 2023
#WisdomTales: Insights from Legends

In this series, we cover interesting stories and insights of legendary investors which will give invaluable lessons in the journey of investing

In this thread, Kenneth Andrade explained how using #TechnoFunda does not work on huge PF size !! Image
According to him both the studies contradicts each other, example, A technical chart will tell you to sell it 20% below your purchase price and as a Fundamental analyst you will double your position at 50% below your purchase price so those things are conflicting
In his career he held “MRF” from 2003 to 2015 it was 110 times up, held “Page industries” from 2007 to 2015 it gave an 80x or 90x, & Kaveri seeds which gave 70x

After this there’s just one question he asks is why would you want to sell a business where fundamentals are improving
Read 7 tweets

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