A very good session by @utpalsheth Sir and moderated by @iRadhikaGupta Ma'am. It was an hour-long session and had lots of good points. Summary of important points from the Session (🧵👇) Utpal sir started investing after 12th grade, his father was PM at JM in the late 70s, and pioneer of the process-oriented research process. He used to have a conversation about investing with him and always found it fascinating so, after 12th exam, he joined ASK.

Read quarterly investor letter of Solidarity Investment Managers and provides good insights on when to sell or enter a stock, Why to sell positions in a staggered manner and why not to wait for a company to report dismal earnings and then sell immediately? (🧵👇) When to Sell?
4 situations – When made a mistake or when facts and/or thesis changes, due to risk mgmt reasons, when target price reaches in case of special situations. But the most difficult is to sell those companies which have good growth opp. but trading at euphoric valuation

Time for a long read on the origins and journey of a Company which became the largest MF RTA and is coming out with its IPO @Camsonline

My first attempt at writing a long thread on Twitter. (Thread 🧵👇) 1/n CAMS was founded by V Shankar, he is a graduate from the Indian Institute of Technology, acquired a Master’s degree in business administration at the Indian Institute of Management, Calcutta, and was working for the fast-moving consumer goods (FMCG) major, Ponds India Ltd.

Attended a webinar on Brokerage industry moderated by @varinder_bansal. Lots of insights about the industry and must-listen for those who are invested in this industry or are tracking it. Highlighting some important points from the discussion. (Thread👇) The biggest enabler of Discount Broking success in the Indian market was online onboarding of account which previously was a cumbersome process and that was protecting traditional brokers and was moat for those who had more branches.

Thread highlighting the importance of reading revenue recognition policies (and also other important ones like depreciation and inventory policies) in the annual report (1/6) #Polycab Ltd which is the market leader in Wires and Cables segment has a different revenue recognition policy vis-a-vis its peers, whereby they book revenues in P&L on dispatch of goods while its peers recognize revenue when the goods are delivered. (2/6)

Listened to this podcast by @acquirersx with @JohnHuber72 . A great podcast covering a variety of important topics, highlighting in the below thread some key points. (Thread👇) On the importance of Writing blogs:

Was a great compounder for him in terms that after writing for years, when he started managing public money, many people came on board due to his regular blog writing and helped him in finding like-minded investors.

Read interviews of Seth Klarman by Jason Zweig in 2010, and another of Late Parag Parekh in 2001. Always love finding common themes and connections between what I read. In the below thread, highlighting 2 common points highlighted by both of them. Seth Klarman, being value investor, but not shying away to sell early if the price of the asset reaches its real value faster than what he had expected it to and not clinging on to it for long term.

Another great Memo by Mr @HowardMarksBook , where he explains portfolio positioning(asset allocation) and why not to wait for markets to form bottom very well.

Some key highlights: (1/11) While thinking about asset allocation more time should be spent on thinking about being offensive or defensive and less on stock versus bonds, U.S. versus Foreign, Developing markets VS Emerging, Large-cap Vs small-cap etc. (2/11)

One reason why buyback might prove to be more beneficial for shareholder apart from tax benefit (1) In case of dividends, discretion lies with the firm as all shareholders receive dividends and have to think of more investment opportunities to deploy the dividend amount received. (2)