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10 Nov, 32 tweets, 14 min read
AMA Today (Wed, 10 Nov) at 1pm to 2pm. Ask me about stocks, markets, finance and life! No advice, just some learning.

Tweet your questions with #AskDeepak ! (Also, my book on pre-order: amzn.to/3CgkGea) Image
Last week's AMA thread:
No stock stuff please :) 2022 wise I'll still own a car and use Ola/Uber when I don't feel like driving! Thinking about weight reduction is like an SIP, it happens every month :)
Every company has to grow, and we will too. Vision is big, massive, enormous. Action will happen over time - the idea is to build a profitable, strong financial business.
In general I don't think it's very useful for equal weight funds to be used longer term. It works when the index heavyweights change but not when the biggies get bigger. We had a post on this long back! capitalmind.in/2017/10/sponso…

What goes up? amzn.to/30eQYbC
Market wizards amzn.to/30hZXZF
More money than god amzn.to/308btqx
The Scam by @suchetadalal @Moneylifers amzn.to/3n0sM5l
Bull by @maggiemahar amzn.to/3oe3sYT

If you can quit your job and live on the income that your investments (or otherwise) generate, you are independent. In other words: if you can work because you want to, not because you have to!
There's no one way to live your life - be open to new things, to changing everything and to finding what you really want to do. Sometimes this is a deep philosophy, and sometimes they think this means they can buy crypto.
Both, probably. Hey, government debt is a ponzi scheme usually, and it's a new world order too. However, in the end, it might be decided at different ends of a gun.

IPO when it happens :)
Stock that troubled me first - ICICI technology fund, which lost 80% in 2000, and took the only savings I had. Gave me courage eventually to go buy stocks on my own, and that's been a good journey.

Interests: I've had varied sorts - treks, cycling, rock climbing, salsa, squash, basketball, long drives. Some happen regularly, some I simply don't have time for. But there's still enough time to explore, I hope!
Markets will eventually fall, of course, but it could take a while since the central banks seem to get too concerned when equity markets get impacted by monetary policy changes.

Valuations - I think don't predict, react. Things will change.
Whatever makes you comfortable. Peter lynch had 1000 stocks, and he beat the index for a decade. Buffett says he has a few but actually has hajaar, that's that. What matters isn't the number - it's your strategy to stick with or add to the winners.
Head still swirls, but I have mined a very tiny amount of bitcoin to learn more and get started.
Been too long, but I loved compilers in 6th sem. Prof I really liked was Dr. Mohanan

Yes, we have positions open for a dealer/trader, analyst with stand-out writing skills, and of course always open for tech positions (React/JS/Node/Python). jobs at capitalmind dot in. (No freshers unfortunately)

Crypto only when it's legal. Rest we do have an excellent set at capitalmind.in - fixed income and equity portfolios. We'll build more on those lines!

The standard rules apply - promotion using influencers/socmedia rather than ads, electric vehicles, energy efficiency etc. Too broad, I know! :)
Agriculture has a different dynamic (and limited buyers afaik) since it can only be bought by people who've been farmers. Perhaps plantation land is more useful? But I'd say very very long term bets, and probably less than 10% of portfolio in right place.

Of course, we are in a bubble. The problem is to figure out when it will pop! We can make guesses, but let's react, not predict.

Everything changes your view about life. Nothing has changed my views more than the impact and our reaction to Coronavirus.

We will have a post at @capitalmind_in soon about this! (capitalmind.in)

We made an entire video saying vote Yes, so unless you're reading "yes" as something else, there isn't a question :)


In general, doctors have a back-ended financial life - struggle early, and make globs of money later. So I'd say focus on being great, and great things (and money) will happen :)

1. Rebalance once a year?
2. Painful for ETFs I agree. Could use index funds, or ask if your broker supports "tagging" of investments so you can see separately?

Btw, at @capitalmind_in we have an offer on for the smallcases and for Capitalmind Premium. Check them out too:

CM Premium: get.capitalmind.in/premium
CM Momentum SC: capitalmind.smallcase.com/smallcase/CMMO…
CM Low vol SC: capitalmind-portfolios.smallcase.com/smallcase/CMDM… Image
Pay off loans for the feeling of happiness of being debt free. Edu loans are a good investment (not spending) so you can pay back through EMIs longer term, while SIPing, as long as your debt is affordable. (outstanding <3x annual income)
I suppose the best answer right now is: wait for it :) Lots of great ideas, but to reveal them now would be premature. Hope SEBI will give us the ability to make them a reality!

One learning I have is to take separate covers rather than a single floater for both, as one situation can impact premium for the other. But beyond that - take a cover now itself, and do have a "super top up" for those insane expenses if it happens.
Last q for today. Performance on smallcases may be messy due to market orders, and taxation, in comparison with MFs. For same strategy, an MF is a better vehicle - but some smallcases have better strategies (and can go to cash, which helps in deep falls).
Thanks for all the participation! Hope this has helped. I'll be back next wednesday for another round :)

Take a look at my book - Money Wise: Build your wealth, which is on pre-order, launches Nov 23: amzn.to/3CgkGea

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More from @deepakshenoy

Deepak Shenoy Profile picture
11 Nov
How do you find the best Nifty Index Fund? Aren't they all the same? The lowest TER (expense ratio) is the best?

The answer is NO. The "real" expense ratio is very different - and makes the difference. capitalmind.in/2021/11/the-be…
The Real Expense Ratio is what the fund really costs you. Image
And there are reasons why index funds will underperform the Index.

More at: capitalmind.in/2021/11/the-be… Image
Read 4 tweets
Deepak Shenoy Profile picture
22 Sep
Zee says there is no open offer in a merger - even if effectively Sony is adding cash to buy 53% of the entity that will be merged with Zee.
Is the AGM called off? Asks a caller
This call is for the merger, we cannot comment on whether the EGM called (by Invesco/Oppenheimer) will be called off.

Means those folks haven't been brought on board for the deal?
Valuation: Sony will add 1.6 billion roughly - so around 12,000 cr. - to Sony India, and then they merge, and then Sony will own 53% of the merged entity.

Yesterday's mcap of Zee was 24,000 cr. This means the current 24,000 cr. = 47% of eventual company.(contd)
Read 7 tweets
Deepak Shenoy Profile picture
20 Sep
What's happening at Evergrande? Here's a collection
(A Thread of Threads and Articles and all that, because no point writing out threads)
The mega-master-thread from @TheLastBearSta1

One by @KirtanShahCFP - the cause, now seems to be regulatory tightening:
Read 6 tweets
Deepak Shenoy Profile picture
16 Sep
Finally, a better map of the world in the RBI Bulletin - moving away from that degrading Mercator projection.
Toll collections are back, but EWay bills are still not close to the peak in March, yet.
Vehicles and transport don't look greawt. Petrol consumption (by volume) is up above Feb 2020, but Diesel and others are still low. Vehicle registrations still struggling.
Read 9 tweets
Deepak Shenoy Profile picture
9 Sep
A movie theater is no longer about the movie. Its about the experience, the going out, the togetherness, the popcorn and all that.

Coffee shops taught us that. The coffee is crap and irrelevant.
Investing sometimes is that too. The narrative drives the feeling of superior returns even if the returns are not. You want the narrative because oh god how can't it be so boring as just buying an index.

The world eventually optimises for behaviour, not rationality.
Its the same with everything..we judge books by the cover and make idioms in the hope we don't.

We build technology to help isolate us from each other, and after enough of it everyone just wants to meaninglessly meet.

All you need to do is to sell it right.
Read 4 tweets
Deepak Shenoy Profile picture
26 Aug
SEBI will allow accredited investors a more relaxed framework (for PMS, AIF etc): lower minimums, unlisted stocks etc. To be one
- your net worth must be 7.5 cr. (half in financial assets like MFs/stocks)
- OR you have an income of 2 cr.+ a year
- Or Income 1cr+Networth 5 cr.
Primary house can't be used in net worth.
For Companies net worth should be 50 cr+
Needs certification by an accreditation agency
For accreditation, you'll need to give PAN card, Passport/Aadhaar and IT returns for one year or a certificate from a CA for net worth, plus demat acct statement (where applicable)

Accreditation for 1 yr if you give docs for 1 yr
for 5 years if you give last three years docs.
Read 4 tweets

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