As a process, most long-term investors over time tend to put PSUs in the touch-me-not basket. Newbies often wonder why such a strong bias against this particular class of companies despite some being pseudo monopolies boasting of attractive business characteristics. 1/n A lot of incremental evidence not only solidifies such a stance but also keeps pushing more investors to avoid the space (with some exceptions). For instance, there’s a listed mining PSU that has not mined anything for the last 12 yrs, as it failed to renew its mining lease.

Some hard investing truths & views from Kenneth Andrade, that 20-something, financially independent & full-time investors (with Papa’s money) would NOT be able to tell you on their Instagram or Youtube Video 1/n ‘Usually, you don’t beat markets in the first 5-10 years. I did not beat markets for the first decade. All successful investors made big money only after 55 years of age, by then they have made most mistakes already & stop repeating them.’ 2/n

(Thread) A self-employed professional in the financial services industry has broadly three areas to deal with:

1. Regulators/Compliance (SEBI, MCA, RBI, GST, IT..)
2. Investors (Behavioural Counselling..)
3. Investing/Research (Equities/Mutual Fund..)

1/n While real value addition is 3rd, followed by 2nd, unfortunately, a significant time & mind share goes in dealing with 1st.
You may have all the passion for the financial markets and relevant experience & academic degrees to back it up, but is that enough to be successful in your

9,520 have died in India & 4.3 lac globally. These are just 'numbers' until it happens to us or someone we know. I lost my next-door neighbor last week, a young & healthy individual with no pre-existing illness. He was hospitalized (on oxygen) for 10 days but couldn't make it 1/n His brother & father who also tested positive and are still hospitalized for over 15 days do not yet know about this. Wife & kids probably couldn't even see him due to the way the last rites happen for COVID patients.

A Thread. FASTag rollout has helped NHAI increase daily toll collection from Rs 65 Cr to Rs 80 Cr., a 23% jump. Over the weekend I crossed four tolls en route Chandigarh from Delhi and here’s a thread with some observations & thoughts. 1/n 1) It did not take us more than 3-min to cross any toll, definitely a significant improvement in turnaround time & great for commuters, especially commercial vehicles. (would be down further post 15th Dec)
2). The biggest benefit for tolls is plugging the cash leakage, which is

A thread. Some of my biggest learnings came in the last two years of my first cycle (9 years of full-time investing): 1) In the beginning, everybody thinks bottom-up stock picking is the holy grail, I thought so too. Whereas, in reality, sectoral tailwinds/headwinds immensely matter and should never be ignored.

What a fabulous day at #VIP3
Each of the 4 sessions & Q&A had decades of wisdom distilled into it.
400+ attendees including seasoned investors & money managers who flew to Delhi from across the country. A big thank you to all speakers, moderators, organisers and CFA Society. Good news for those couldn’t attend - All the sessions were recorded and videos will be released shortly.
I’ll share the link in this thread once its available.

Enough! Too much pessimism & slowdown-talk are only going to push many of us to either exit or into inaction. Starting this 'positive' thread to periodically share sane voices who have seen multiple cycles & have rare ability to connect dots and see beyond these minor blips. 1/n 2/n Kick-starting the thread with Mr. Prashant Jain, CIO, HDFC AMC. A 34-min interview covering- why corporate earnings shall grow despite economic slowdown, why valuations look optically high but they aren't, views on Auto, Banks, IT, Pharma, Utilities:

What is a pyramid scheme? How's it different from a ponzi scheme? Is there anything called legitimate Mutil-Level-Marketing? How to identify a fraud? See this 5-min video by @StacieABosley and share with others
During high school and graduation got invited to multiple such events at CCD or auditoriums from 'Well Wishers' but fortunately my brother always made me see the flaw in biz model. Though couldn't convince numerous friends and cousins who burnt money, time and reputation.

Many want the upside of small-caps with drawdowns of large-caps - Not Possible. The volatility in small-caps will always be higher and hence the drawdowns. In 2017 everyone benchmarked Small Cap Index but in 2018 it shifted to Nifty, the strategy cannot change with the wind. 1/4 If u have idle cash, in my view it is a good time to start deploying. If u are fully invested & confident in businesses & management teams, just stay the course. Otherwise, you can always switch to better opportunities - don't stop researching just because you don't have cash 2/4

My Stock Idea Presentation at TIA’s 20:20 Ideas Summit – 20th Oct, Chennai. I had 20 minutes to share thesis on a chosen idea, overshot a bit 😀  The presentation slides have also been shared on the blog here: stalwartvalue.com/video-stock-id…

What does 'The Black Swan' really imply? What is that 'risky' event which Nasim Taleb refers to in his book? Unfortunately there are plenty of case studies available for Indian Investors. Sharing one such hair-raising development in a listed company: 1/5 Mumbai Municipality apparently has asked Bombay Exhibition Centre operated by a listed company NESCO to immediately stop conducting exhibitions on complaints by local residents regarding traffic congestion on Western Express Highway. 2/5

Orbit Gum changes its packaging from paper to BOPP film; must be a sad day for its old vendors No matter how harmful plastic is for nature.. Somehow it continues to replace many materials

@Lenovo_in Been 40days since I gave laptop for service(under warranty) bt 'Tareek pe tareek' going on.Highly Disappointed.Case ID 7024306927 @Lenovo_in @Lenovo @Lencare_In Pathetic Service. Haven't heard from you yet, been almost TWO months. We are never buying a Lenovo again.

Shameless and blatant plagiarism by 'Fund Manager' of Concept Securities, Surat
stalwartvalue.com/video-talk-del… @concept_ind He has not only just copied all the slides as is, but even translated entire voice over in Gujarati word by word @concept_ind

1/4 ‘Sir Indore ki ‘bla bla’ co. se bol rahi hu, trading tips dete hain, kya aap interested hai?’, No I don’t trade. 2/4 ‘Try karo boht ache calls denge’ No thanks, I am not interested. ’Kya sir phir trading account kyu khol rakha hai?’

1/3 #Pulse has 100 Cr turnover in 1st yr with ZERO marketing spend.That's a whopping 5.5% share in 1800 Cr candy mkt 2/3 How did DS Group do it? It was 2yrs of research & a unique consumer insight that did the magic - aam panna with a masala blast

[New Post] "The greatest wealth is Health"
#Thryocare #preventive #healthcare #IPO #scuttlebutt #WishItWasListed
stalwartvalue.com/the-greatest-w… Extremely positive on this Space.. Thyrocare specially seems to be doing it in the most differentiated way #superb #businessmodel