#MICIN#MICDigital Services PMI, Rural Demand increasing but 7.5 mil jobs lost in Urban areas, Income inequality increasing, coupled with 10yrs investment stagnation and Balance Sheet issues of NBFCs, Households, etc. not able to spend to get economy up. Demand Side problem
Dip in India more so recovery also will be sharper. But for extended period our growth will lag global. Maybe Mar 22 we are back to Mar 20. Today we are 95% of pre-covid but that was one of worst points of our economy. So not encouraging sign.
#MICIN#MICDigital India's Domestic Demand & Demographic a ++. Last decade missed increasing % Middle Class, stuck at 12 - 15%. Have not been able to create more urban jobs. Suggested Focus on construction => maximum multiplier will come out of this & provide impetus to economy
#MICIN#MICDigital Indian informal sector contributes 50% but not talked about. Severely disrupted. More than demonetization. So with this sector down but demand (food/clothing etc) remaining same inflation could go up.
#MICIN#MICDigital Monetary policy done well. RBI ahead of the curve. Fisc needs to do more - disinvest and invest in new assets, bank recapitalization. Reforms need followup. GST, Insolvency, DTC. Seize new opportunities, rejigging of global supply chains
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@in_morningstar#micin#MICDigital Session with Sanjoy Bhattacharya. Don't believe in sectoral investing. Not football 😆. Go with managements that are capable, value oriented and deliver growth.
@in_morningstar#micin#MICDigital Sanjoy Bhattacharya, Dont understand Value Investing. Any investment that one does is driven by the value of the investment. Own an investment that is sustainable, run by good management, value less than what it is worth.
And after investment follow it, Read Read Read. Cut out the noise (poor qrtly result for eg). And follow JM Keynes "When Facts Change I Change my Mind". Specially true in these times when environment changes, competition etc faster than the 70s, 80s or beginning of this century
Some takeaways on Core Values for a Company, its Employees CEO and Board. Common => Values and Competence
Aspiration, Values, Sacrifice, Convincing, Articulation, Treading Untrodden path
Employee => Learning, Hardwork, Teamwork, Global Benchmarking
CEO => Leadership qualities, RA & Mitigation, Strategic, Communication, Out Of Box Thinking, Leaning from Competition, Integrity, Excellence in Execution, Articulating
Board Chair => Coach the CEO to Do Right Thing, Share Distilled wisdom to handle tough situations,