Praveg is building and starting projects at a rapid pace.

If the company manages to execute, it will become a giant in the hospitality space.

Here is a thread on where things stand.

Discl - Invested. These are the projects currently operational.

Out of these ten projects, six have started in the current quarter. The full impact of these projects will only be visible in the quarters to come.

In Aug 2021, I started writing semi-actively on Twitter about investing.

Since then, my community has grown by more than 8500 people!

In this last year, I wrote a lot of Twitter threads.

Here is a thread of threads with ten of them that I think may be worth revisiting - 1 -> My highlights from my Clubhouse room with @AnishA_Moonka on understanding the pharma sector.

https://twitter.com/BahirwaniKrish/status/1482016819779338240

Like most beginners, I made a lot of mistakes when I started investing.

But this was one of the biggest: not understanding the industry structure.

Here's what happened: I looked for sectors that would grow a lot and picked aviation. In 2016/7, I invested in SpiceJet and Indigo. The aviation sector lacks a few things: pricing power for any of the players, cost control and concentrated profit pools.

Airlines are forced to price relative to their peers, since there isn't enough to differentiate the product besides punctuality and cleanliness.

We've had @AswathDamodaran in the news a lot lately for his valuation of Zomato.

He correctly valued Zomato at Rs 41 when it was trading at Rs 126.

This is because of the quality of frameworks he has built to analyse and value companies.

Let's try and learn one of them today - This framework is called "The corporate lifecycle", and it divides all companies into six stages -

1. Startup
2. Young growth
3. High growth
4. Mature growth
5. Mature stable
6. In decline

Fully understanding the depth of this framework can be a game-changer for your investing

Now is the time to be focused.

Emotions might overwhelm. Greed or fear may kick in.

Price action may not make sense.

Look at the companies you own. Make sure you have the best set of companies to meet your objectives.

Track their results and listen to their management. Don’t look at the prices on your portfolio every day.

Define for yourself, when you will act and when you will not.

Once all your decisions are made and your cash is deployed.

Spend time doing other things.

Your assets are meant to work for you, let them.

Dixon Tech is now trading at 3442.

It had a 52 week high of 6,243.

I haven't sold a single share.

That was a mistake.

Here is a thread 🧵 on what I learned - Dixon Tech is an electronics manufacturing company.

It is both an ODM and an OEM.

OEM = Original Equipment Manufacturer

(Make stuff for other companies at lower margins)

ODM = Original Design Manufacturer

(Design and make stuff for other companies at slightly higher margins)

BSE INX GA and NSE's IFSC both give global access to Indian investors.

BSE INX GA gives Indians access to over 135 exchanges across 33 countries in 23 currencies worldwide.

Indians can invest in US stocks through NSE's IFSC.

So what are the differences? Here is a thread 🧵- ⚡️There is a big difference between what you can invest in.

BSE INX GA gives you access to thousands of stocks across 135 exchanges.

NSE's IFSC gives you access to 50 stocks in the US markets.

BSE has opened up a world of possibilities for Indian investors through India INX Global Access.

Indians now have direct access to over 135 exchanges across 33 countries in 23 currencies worldwide.

For those interested, here is a thread 🧵 with the details. The countries you can access today are -

North America - United States, Canada and Mexico.

Europe - UK, Switzerland, Sweden, Spain, Russia, Portugal, Poland, Norway, Netherlands, Lithuania, Latvia, Italy, Israel, Hungary, Germany, France, Estonia, Belgium and Austria.

Today is a big day for Indian markets.

Indians can now invest in US stocks through NSE's IFSC.

This should help bring down the cost of US-based investing over time and also eventually allow access to other markets.

For those interested, here is a thread 🧵 with the details. From today, eligible brokers will allow for investing in 8 stocks. These are -

1. Meta Platforms - $FB (Facebook)
2. Alphabet - $GOOGL (Google)
3. Amazon - $AMZN
4. Tesla - $TSLA
5. Microsoft - $MSFT
6. Netflix - $NFLX
7. Apple - $AAPL
8. Walmart - $WMT

I've seen a lot of red days in my US portfolio recently.

Despite my capacity to sit through pain, this hasn't been fun.

I have learned or been reminded of a few very valuable things. Here is the list - 1. There is no substitute for margin of safety.

Don't be in a hurry to build a portfolio, look for places where risk/reward is in your favour and opportunity is evident.

Without an adequate margin of safety, there can be permanent loss of capital or permanent opportunity cost.

I hosted a bunch of Clubhouse rooms and Twitter Spaces covering many sectors and aspects of investing. Some are recorded.

Since a lot of people have asked, I've put up this thread so that you can find the recordings easily.

Big thanks to everyone who helped make them happen. Let's go back to the first recorded Clubhouse room that I did with @Delhi_Investors where we interviewed @SamitVartak along with @ishmohit1.

@saket1974 @dadalife369 @saketreddy @indian_stockss @karnbc89 @mishika_chamria @ajaydhakaajay @cautkarshpandey

Let's talk about position sizing within portfolio allocation.

There are a few different ways you can do position sizing for a fundamental-based long term portfolio.

They are risk-based, tailwind-based, trigger-based and equal-weighted.

Let's explore them one by one. 1. Risk-based - All investing is probabilistic in nature, regardless of what anyone tells you. Certain events or outcomes are more probable than others while others are less certain.

In a risk-based allocation strategy - stocks with fewer uncertain variables are preferred.

Not many of you know this, but I recently completed two years as a professional framework coach.

Consolidating my insights from hundreds of hours of personal and group coaching. Here are five aspects to personal transformation that I currently consider to be vital - 1. Expansion - Think of reality as an ever-expanding map. Parts of that map are currently exposed to you while others aren't. In order to expand the opportunities for development, growth and advancement it is essential to expand your map or frame.

What a privilege it was to host @Gautam__Baid for my first ever Twitter Spaces event along with @dadalife369 and @Finvents.

While we wait for the YouTube recording. Here are 8 of my biggest takeaways from today's session.

#investing 1 - Start by coming up with a portfolio allocation strategy based on your aims and objectives for investing. Include flexibility, tracking and rebalancing as part of your strategy.

Tomorrow @dadalife369, @Finvents and I will be hosting @Gautam__Baid for a presentation and discussion on his investing philosophy and his learnings thus far. Please don’t miss this.

twitter.com/i/spaces/1jMKg…

#investing Please help spread the word guys @cautkarshpandey @saketreddy @itsTarH @ishmohit1 @VohiCapital @InvestorAyush @suru27

Let’s talk about proxy investing.

Proxy investing is one of the most important mental models in investing. It allows you to potentially increase your return or lower your risk, sometimes both when compared to the initial investment idea.

So what makes a good proxy investment? Let's start with the basics.

https://twitter.com/itsTarH/status/1401099203527405568

Please read the thread by @itsTarH to get an understanding of the basics as this thread builds on them.

Moving on, I have spent a lot of time thinking about this and here is the mental model I've developed so far -

We had @itsTarH on Indians Invest Globally. Here are some takeaways from our session -

A great way to start investing in the US markets by through a low fee index fund such as the Motilal Oswal Nasdaq 100 Index. Tariq has written about the basics of investing internationally - You can read more at investkaroindia.substack.com/p/howtoinvesti…

Tariq looks at bottom up opportunities in the International markets. His current portfolio is split 70:30 between India and International.

For those who can't make it, I'm live-tweeting my highlights from the @Delhi_Investors room and the discussion with @MashraniVivek and @suru27.

@cautkarshpandey @saket1974 @dadalife369 @academy_share @saketreddy @mishika_chamria

So let's begin - On early investing -

- Pat Dorsey's books helped a lot in the beginning.
- Stayed away from cyclicals.

Currently -

@suru27 maintains three portfolios
- Growth driven (6m-12m).
- Long term (Unloved sectors and long term investing).
- Technical driven.

Live tweeting highlights from our discussion with @Iamsamirarora moderated by @dadalife369 and the Investors India gang.
@saketreddy @cautkarshpandey @safiranand @academy_share @mishika_chamria

So let’s begin - On the duration of investing,
Use 1-3 years as the horizon, because that is the period I can analyse.
- One does not discover a 100 bagger, it became so because we continue to hold because the stock continues to perform

Live tweeting highlights from our discussion with @SamitVartak moderated by @ishmohit1 and the DIA gang. @saket1974 @saketreddy @dadalife369 @cautkarshpandey @vishal_chandi

So let’s begin -

1. Before looking at the valuation of a business, look at the fundamentals first. On cyclicals -

2. We look for profit power, the ability of the company to control price and gauge profit. This is why we don’t look at cyclicals.

3. With cyclicals, oftentimes the promoters themselves cannot predict pricing and profitability.

My thoughts on the Zomato IPO

The company’s biggest value add in my understanding isn’t delivery. If you value it as a delivery company, you’re doing it fundamentally wrong. The moat is logistics, marketing and service quality.

#ZomatoIPO #Zomato #IPO Zomato is a marketing company where cloud kitchens and delivery places will pay for marketing and discovery. Established restaurants have spent 30% of revenues on marketing for years. A big chunk of similar marketing spends will go to Zomato and Swiggy.