📘 Nalanda Capital's Mantra 🧵

16-Year CAGR: 19% vs Nifty: 9.5% 2/ Portfolio Construct

🎯 Long-Term Wealth Creation
⚠️ Past performance is no guarantee of future results

1) Nippon India Growth Fund 2) Franklin India Prima Fund

🧵 Howard Marks shares his 10 key elements for investing

1) Forget the short run – only the long run matters.
2) Decide whether you believe in market efficiency. If so, is your market sufficiently inefficient to permit outperformance, and are you up to the task of exploiting it? 3) Does your investment style match your personality? Do you tend more towards aggressiveness or defensiveness? Will you try to find more and bigger winners, or focus on avoiding losers, or both? (Hint: “both” is much harder to achieve than one or the other.)

BKT Tires - Key Insights from Annual Report

• Leading player in the Global Off-Highway Tire (OHT) market.
• Has a deep understanding of the OHT market, and has more than 3,200 SKUs.
• Will achieve a total capacity of 3,60,000 MTPA by FY23. /1 • Operates in large varieties low volume segment - highly technical and capital intensive.
• Caters to Agriculture, Industrial, Construction, Earthmoving, Mining, Port, Lawn & Garden Tires.
• Raw materials are Natural and Synthetic Rubber, Carbon Black and Nylon fabric. /2

Do you want to know how top investors invest? 🧵

I have done a study of these portfolios.
1. Warren Buffett
2. Seth Klarman
3. Li Lu
4. Pat Dorsey
5. Greg Alexander 1. Warren Buffett ($363B)
Top Stock: 42% in Apple
Top 2 Stocks: 54%
Top 5 Stocks: 75%
Total stocks: 49

#HDFC Merger: Explained in 10 charts

1) 2nd largest bank 2) HDFC twins have been flat

1/ #QSR Business Model 2/ #QSR Business Model

1/ Thread on India's Life Insurance

A massive investment opportunity over the coming decade.

Ambit Capital says the opportunity lies in #protection and #annuity business. 2/ Ambit Capital's study reveals #protection could grow 8x in 10 years.

₹29 lakh crore of retirement corpus is estimated to grow at 15% to drive #annuity at 20% CAGR.

This implies that private insurance could grow 14.5% CAGR over the next decade.

#Godrej Group has increased its stake in #Sobha to 9.99% in the June 2020 quarter, from 1.08% in the March 2019 quarter.

Privately-held Godrej family arm Anamudi Real Estates has acquired the stake in Sobha, which is valued at Rs 223 crore based on CMP. #MVP_BulkDeals Get comfortable with discomfort:
⛳️ Every great investment begins in discomfort, If everyone else didn’t hate the investments, they wouldn't be cheap.

⛳️ Many times, it doesn’t work for months, or maybe years.

-- @HowardMarksBook

Conference Call Transcript | Prashant Jain, CIO @hdfcmf

1⃣ Economic Overview
- Government should spend more – Infra capex
should be boosted to create more jobs, services and
demand for materials
- Economy likely to be driven by Investments now and not
consumption 2⃣ Banks
- Large banks likely to come out stronger from the crisis
- Lots of value in some of the large banks – some available at
1x book value
- Plus valuable subsidiaries like life, non-life insurance, credit
cards etc.
- Deposits moving to larger banks