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Aug 23 10 tweets 2 min read Read on X
Rajeev Thakkar helped Parag Parikh Flexi Cap grow 189 times in a decade.

Rs 598 cr in 2015 → Rs 1,13,281 cr today.

He has also been in the company of great minds like Chandrakant Sampat & Parag Parikh.

EIGHT quotes by him that can help you in your investing journey. 🧵
“If people with full-time jobs try to build a stock portfolio themselves, they may end up making suboptimal decisions.”
“Investors don’t have an information edge today. The ability to think longer term when everyone is thinking one to two months is the edge you can have.”
“Seasoned investors have systematic rules about not overexposing themselves to a particular sector or stock and have a written rationale for their investments.”
“For my grandkids, I will invest in a diversified or an index fund rather than buy some select stocks.”
“In this fast-changing world, valuations and business models change quickly. We sell a lot of stocks within two to three years.”
“You cannot depend on the price movement to decide whether to buy or sell a stock. Always look at the business performance dispassionately.”
“Borrowing money to invest in stocks, engaging in day trading, or trying to time the market is tempting. Most of the time, it does not work out, and most regret it.”
"If your neighbour claims to have gotten rich doing something foolish, the temptation to imitate that behaviour is very, very strong."
All of these quotes are from his recent interaction with ET Money. You can watch the entire podcast here:

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More from @ETMONEY

Aug 21
Some of the largest equity funds are sitting on massive piles of cash.

Parag Parikh Flexi Cap: 20.7%
Motilal Oswal Mid Cap: 18%
SBI Small Cap: 16.5%

Do cash calls drag down your returns?

We crunched the data. The results will surprise you. 👇🧵 Image
First, what’s a “cash call”?

Funds always keep a small buffer, up to 1% - 2%, for redemptions. That’s normal.

But some funds may hold higher cash.

It can be because managers are unable to find stocks at preferred valuations or they want to protect downside during corrections.
To test this, we did a simple exercise.

We took five categories of equity funds and compared the performance of funds with high cash and those with low cash.

-Large Cap
-Mid Cap
-Small Cap
-Flexi Cap
-Large and Mid Cap

Only funds active since 2019 were included.
Read 19 tweets
Aug 17
Parag Parikh Flexi Cap is the most popular fund today.

We interviewed its CIO, Rajeev Thakkar.

He shared his views on:
- Where would he invest for long term
- How to spot business trends early
- How to be a better investor
- India’s growth story
- Fav books

..& much more.🧵
1. WHERE WOULD HE INVEST FOR HIS GRANDCHILDREN?

He surprised us with the answer.

He would prefer a diversified scheme or an index fund for such a long-term investment.

Reason? Businesses that look great today may not be relevant in 5 years.
Thakkar of ..@PPFAS has been managing money for 22 years.

He still holds stocks that were bought at the start of his career.

However, things have started to change now.

Today, he ends up selling a lot of stocks in two to three years due to the fast-changing world.
Read 17 tweets
Aug 9
Reliance’s stock commands a ₹19 lakh crore market cap.

But to buy the entire business, you’d need ₹21.6 lakh cr.

On paper, its worth is just ₹8.4 lakh cr.

Three numbers. Three very different meanings.

Here’s what every investor should know. A🧵
What is Market Value?

It tells you what the stock market thinks a company is worth today.

For example:

Reliance’s share price on 24th July is ₹1,403

It has issued 1,353 crore shares

So Market Value = ₹1,403 × 1,353 = ~₹19 lakh crore
What is Enterprise Value?

EV = Market Cap + Total Debt – Cash

It shows the true cost of buying a company.

Why? Because if you buy a business, you also take on its loans (debt) and get whatever cash it has.

So EV tells you what you’re paying to own 100% of the business.
Read 11 tweets
Aug 6
Birla & Adani rule India's cement industry.

Now, another big business group is planning to make its mark in this competitive sector.

JSW will soon launch a ₹3,600 cr IPO for its cement arm.

It wants to increase capacity & strengthen the balance sheet.

Should you apply? A🧵
We will cover 5 key aspects in this analysis:

- Business Model of JSW Cement
- Financials
- Competitor Analysis & Valuation
- Key IPO details
- Strengths and challenges

Let’s start.
1. BUSINESS MODEL

JSW Cement is India’s largest GGBS maker, with 84% market share.

GGBS is a strength-boosting, eco-friendly material used in cement.

It also makes blended cement, clinker, construction chemicals, waterproofing compounds & more.
Read 13 tweets
Jul 20
SEBI just proposed sweeping changes to mutual funds.

These will make mutual funds easier to understand and safer to invest in.

Here are the 8 big changes that could redefine mutual funds as we know them.🧵👇
Over time, mutual funds have gotten a little crowded.

Funds with different names often ended up doing the same thing. And for the average investor, navigating this landscape is a nightmare.

SEBI noticed and is now stepping in to fix it.

Here’s what it proposes to change.👇
1. Fund houses can offer both Value & Contra funds

Until now, fund houses were allowed to offer either a Value fund or a Contra fund, not both.

The reason: While these funds follow different investment styles on paper, in reality, many ended up holding the same set of stocks.
Read 25 tweets
Jul 16
Small-cap funds have been investors’ favourite.

But each scheme has a distinct style.

Nippon Small Cap: Diversified Portfolio + downside protection

Bandhan Small Cap: Bull-run performer + high cash calls

Which one suits you the best? We analysed them all.

A🧵
We analysed every small-cap fund across 6 key dimensions:

-Allocation to small-cap stocks

-Frequency of buying and selling

-Portfolio diversification

-Cash exposure

-Bull market performance

-Performance during tough times

Here’s what we found.👇
ALLOCATION TO SMALL-CAP STOCKS

These schemes must invest at least 65% in small caps.

Some funds stick close to this lower limit. Some don’t.

.@EdelweissMF Small Cap, for example, has averaged 66.75% since inception, allocating significantly to midcaps (28.35% in May 2025).
Read 19 tweets

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