tag:blogger.com,1999:blog-7684914772266332282024-03-23T16:23:58.433+05:30EASY Ways to Invest in IndiaOne Stop Supermarket of Financial Products and Services in India. We make investing - an EASIER experience in India.Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.comBlogger795125tag:blogger.com,1999:blog-768491477226633228.post-26304313767262648372024-01-14T09:25:00.007+05:302024-01-16T06:36:23.069+05:30What goes... Comes back... The Jet Airways Way<p style="text-align: justify;">What you do to others WILL come back to you. It is a sort of cause and effect. And when we see LIVE EXAMPLES of such cases, we refrain from inflicting pain on others for selfish gains. At the end - Wise people learn from others mistakes. JET AIRWAYS could be one such example.</p><p style="text-align: justify;">Teary-eyed and dejected, aviation veteran Naresh Goyal felt so hopeless about the system that he told a special court last week that he would prefer to die in prison. For a man who ruled Indian skies, that's quite a fall. </p><p style="text-align: justify;">While one may pitty the fate of a person who once ruled Indian skies, the reasons that lead to his fall his unethical business tactice can give us a different opinion.</p><p style="text-align: justify;">To read the full article, kindly visit: <a href="https://www.ndtvprofit.com/bq-blue-exclusive/naresh-goyals-turbulent-ride-from-ruling-indian-skies-to-hopeless-imprisonment">https://www.ndtvprofit.com/bq-blue-exclusive/naresh-goyals-turbulent-ride-from-ruling-indian-skies-to-hopeless-imprisonment</a></p><p></p><div class="separator" style="clear: both; text-align: justify;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgu0XktiMqTdSCqK9rac_xhopnCMVwLzkiRUKNlbjKFAUNVLJcZRA_93-yZXgZsk27nv0XVMoB2dkwYcdiUuQJK0qESlo-o1xMWt9xHa21VdlSgTU8QUzTbq9qKrGgEklr_SeLIT4v4m9mazuWAQ66v2ZQctFxUkQ31h4xOygWLBWEnkLpaSJxZ3h9lIFU/s572/JETAIRWAYS.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="322" data-original-width="572" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgu0XktiMqTdSCqK9rac_xhopnCMVwLzkiRUKNlbjKFAUNVLJcZRA_93-yZXgZsk27nv0XVMoB2dkwYcdiUuQJK0qESlo-o1xMWt9xHa21VdlSgTU8QUzTbq9qKrGgEklr_SeLIT4v4m9mazuWAQ66v2ZQctFxUkQ31h4xOygWLBWEnkLpaSJxZ3h9lIFU/s320/JETAIRWAYS.jpg" width="320" /></a></div><div class="separator" style="clear: both; text-align: justify;"><br /></div><ul style="text-align: left;"><li style="text-align: justify;">Hailing from Punjab, Goyal started his career in the late 1960s in a relative's travel agency. </li><li style="text-align: justify;">He quickly learned the ropes and set up Jetair Pvt. in 1974 to provide sales and marketing services to foreign airlines. </li><li style="text-align: justify;">After representing global giants such as Cathay Pacific and Air France for years, he established Jet Airways soon after the Indian economy was liberalised. </li><li style="text-align: justify;">When Jet Airways launched commercial operations in 1993, its competitors were Damania Airways, Sahara India or Air Sahara, ModiLuft and East-West Airlines, along with government-owned Indian Airlines and Air India. </li><li style="text-align: justify;">There was a time when any major aviation policy by the government was speculated to have the prints of Mr.Naresh Goyal's.</li><li style="text-align: justify;">"He knowingly or unknowingly caused more harm to Indian aviation than good through his ways of functioning," Jitender Bhargava, former executive director of Air India, told NDTV Profit. "Goyal prevented airlines from starting operations and later growing by creating stumbling blocks through political clout and influence in the policymaking—only to thwart competition." The 5/20 policy formulated by the government can be cited as one major example of that, according to Bhargava. The policy required carriers to complete five years of commercial operations and own 20-aircraft fleet to begin international operations. No other country had such a rule. Goyal, according to sector watchers, was even said to be behind derailing Air India's divestment in early 2000s.</li><li style="text-align: justify;">Goyal, according to sector watchers, was even said to be behind derailing Air India's divestment in early 2000s.</li><li style="text-align: justify;">The Tata Group, along with Singapore Airlines, had withdrawn the proposal after criticism from trade unions and political backlash. </li><li style="text-align: justify;">As a result, Jet Airways climbed higher and gained domestic market share, backed by its world-class service with no other airline to match it. </li><li style="text-align: justify;">The next step was going public, which it executed successfully. Its initial public offer was subscribed 4.25 times on the first day.</li></ul><p></p><p style="text-align: justify;"><b>Emerging Threats </b></p><p></p><ul style="text-align: left;"><li style="text-align: justify;">Indian market changed with the launch of new carriers such as InterGlobe Aviation Ltd.'s IndiGo, Air Deccan, SpiceJet and Go Air (now Go First). As the number of flyers increased, low-cost became the name of the game and the quality of services took a back seat. </li><li style="text-align: justify;">Feeling the threat from budget airlines, Goyal overplayed his hand by acquiring Air Sahara for Rs 2,200 crore. After the expensive acquisition, Jet Airways' costs began to balloon on international routes. Rapid network expansion, not enough in-house talent and price war among low-cost carriers created the perfect storm that rocked Jet Airways. The 2008 financial crisis hit demand and oil prices soared. Jet Airways, already burdened with rising costs, resorted to heavy borrowing.</li></ul><p></p><p style="text-align: justify;"><b>Unending Turbulence </b></p><p></p><ul style="text-align: left;"><li style="text-align: justify;">When Kingfisher Airlines was in dire need of funds and Vijay Mallya was pleading the government to allow foreign airlines to buy stake in domestic carriers, Goyal was reported to be against such a policy and denied the need to tie-up with a foreign carrier. When Mallya's Kingfisher stopped commercial operations in 2012, Jet Airways' efforts for survival came under the spotlight.</li><li style="text-align: justify;">Conveniently, Goyal changed his view: "Today, I may not need FDI, but tomorrow I may need," he was quoted as saying. In another "twist of fate" that year, Jet Airways got a booster as the government changed its foreign direct investment policy. It allowed foreign airlines to own up to 49% stake in Indian carriers, just when Goyal was hunting for more funds to keep Jet Airways going. </li><li style="text-align: justify;">Etihad Airways acquired 24% stake in Jet Airways for Rs 2,000 crore when India and Abu Dhabi agreed to increase flights under the bilateral agreement. But that respite didn't last. Over the next few years, IndiGo's business model, led by single aircraft and frugal operations, became something to imbibe to run a sustainable and profitable airline. Jet Airways again needed funds. </li><li style="text-align: justify;">In April 2019, a consortium led by State Bank of India refused to inject more funds in Jet Airways as it crumbled under huge debt and years of loss. Etihad didn't come to rescue either this time. At the time, Jet Airways operated over 120 aircraft and flew on hundreds of routes. And the airline was grounded and ceased operations. Soon after, the lenders initiated bankruptcy proceedings against the airline and the National Company Law Tribunal admitted the case in June 2019. Allegations came to the fore that Goyal was siphoning funds from the airline. Jet Airways' board, which included Goyal and his wife, had to step down. The Enforcement Directorate began examining Etihad Airways' investment in Jet Airways, reportedly on claims of violation in foreign direct investment rules. Goyal was barred from leaving India.</li></ul><p></p><p style="text-align: justify;"><b>Losing Hope </b></p><p></p><ul style="text-align: left;"><li style="text-align: justify;">In May 2023, Canara Bank filed a complaint with the Central Bureau of Investigation, accusing Goyal of cheating, criminal conspiracy, criminal breach of trust, and criminal misconduct. Based on the CBI's FIR, he was arrested in September by the Enforcement Directorate for alleged fraud of Rs 538 crore. The case has since been heard in a special court.</li><li style="text-align: justify;">When Goyal first emerged in the aviation scene, many pointed to his charming ways and how he had the potential to become Indian aviation's face after JRD Tata. Years later, during the hearing last week, he stood with folded hands and bowing before the court to express how he's missing his bedridden wife in the jail. "He came before the court with continuous tremors in his whole body and hands," the judge said. The 74-year-old said his wife is bedridden and their only daughter is unwell, too. Referring him to JJ Hospital would be useless and he conveyed reluctance to travel to hospital from the Arthur Road jail.</li></ul><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiUKPjZbkV0EvwPoYQgH2BbTl6oJKI3fC7Q2Pu_q3D1y24GLYwd_56IeGX0GpZnAJuUXjYGjFZCnhyh1wtx73mij4VH50HhCj_Ru9MrFCtN2zh0IVNj84KidUvP3-HS1x__2x0qzhEYUA9oZZvWY7ML7WGX7IHmbiPaIzVN5BzJZgKMcJHjoBiCQyixTMM/s1280/jet%20naresh.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="720" data-original-width="1280" height="225" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiUKPjZbkV0EvwPoYQgH2BbTl6oJKI3fC7Q2Pu_q3D1y24GLYwd_56IeGX0GpZnAJuUXjYGjFZCnhyh1wtx73mij4VH50HhCj_Ru9MrFCtN2zh0IVNj84KidUvP3-HS1x__2x0qzhEYUA9oZZvWY7ML7WGX7IHmbiPaIzVN5BzJZgKMcJHjoBiCQyixTMM/w400-h225/jet%20naresh.jpg" width="400" /></a></div><br /><div style="text-align: justify;"><br /></div><div style="text-align: justify;">While the Airlines may Survive - Naresh Goyal may not. That is true for any one who does unethical business.</div><p></p><p style="text-align: justify;">WHAT GOES... COMES BACK... THE JET AIRWAYS WAY</p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-65795012631239088342024-01-02T11:04:00.007+05:302024-01-02T11:04:52.341+05:30Should you Shun Mid and Small Cap's? - Taher Badshah of Invesco MF<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg26KrFqxfWr3KYWdYCkuOBzXPIHyq203-F37OS4jjwu_8Pt19U2SwD14morCERwbE0k5ra1WosoBInWB8wf74sNKgNqVAfQzK375aqRbXT1TDNPF3JJCiThKw1lY8ErLSsCYXPaOr5ZeRl0WV0IS81H3Ujg3gL1oqKQM-4vGeNIrHSKYgpqNNFy-nxjJA/s1044/Invesco%20Taher.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="408" data-original-width="1044" height="250" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg26KrFqxfWr3KYWdYCkuOBzXPIHyq203-F37OS4jjwu_8Pt19U2SwD14morCERwbE0k5ra1WosoBInWB8wf74sNKgNqVAfQzK375aqRbXT1TDNPF3JJCiThKw1lY8ErLSsCYXPaOr5ZeRl0WV0IS81H3Ujg3gL1oqKQM-4vGeNIrHSKYgpqNNFy-nxjJA/w640-h250/Invesco%20Taher.jpg" width="640" /></a></div><br /> <p></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-6853505353328485942024-01-01T08:25:00.005+05:302024-01-01T08:52:38.543+05:30Reflections of 2023<p><span style="font-family: arial;"> We had made an YouTube Video on "Roller Coster Ride" on 15th may 2022 - explaining the underlying opportunities in the then lackluster markets. Indeed it was a timely video showcasing the merits of investing.</span></p><p><span style="font-family: arial;">Infact, it could be interesting to watch this video again and see what we said then:</span></p><p><a href="https://www.youtube.com/watch?v=iNHnDNswCzg"><span style="font-family: arial;">https://www.youtube.com/watch?v=iNHnDNswCzg</span></a></p><p><span style="font-family: arial;"><br /></span></p><p><span style="font-family: arial;">While many of us are rejoicing the market rally, and many think the turning point for markets has been the state election results on November 2023, markets showed signs of growth way back in May 2023 itself - exactly one year after we posted the above mentioned video.</span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCjlnnqt0SWvJNBdBe0fn_1UFgxR50a5VOlaTusTDCOcThzT7EvwL-4TKE3omdLT4kgPP-6q23fXEjwZd8PHWTROrbo3Goqcnt8ZzkexYlDTNZ5cZ1jtpkOnXw52jIB7ToC6r-W_8e0AiVcn4HvZqOQnomJshrsqZwLj3rikDWTRve6mh61N77yWOXKT0/s1806/Sensex%202023.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial;"><img border="0" data-original-height="536" data-original-width="1806" height="190" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhCjlnnqt0SWvJNBdBe0fn_1UFgxR50a5VOlaTusTDCOcThzT7EvwL-4TKE3omdLT4kgPP-6q23fXEjwZd8PHWTROrbo3Goqcnt8ZzkexYlDTNZ5cZ1jtpkOnXw52jIB7ToC6r-W_8e0AiVcn4HvZqOQnomJshrsqZwLj3rikDWTRve6mh61N77yWOXKT0/w640-h190/Sensex%202023.jpg" width="640" /></span></a></div><p><span style="font-family: arial;">Since FII's were net sellers since october 2021, it was the Mid and Small caps which were ruling the roost till Nov 2023. The state election results gave clarity on upcoming elections and FII's joined the bandwagon to pump in record money in the last two months of 2023. </span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgoCp5WPNsZsd8qmy35ql8IZhXZqHh2y9hMOlTvw0eB_TaeCmTKZ_fl73_58f5xQHbiHDrJRkkM1AoOdZ4x2QcKlmwVqIs_WGvnNu5ptF9_zGOmuaHQSVYXwSRrYx7q4Qfj5lr4aBU6jbgNZPntsIjoS8izajjiY6dUKP12Ec436Gd6C8JKiitc-kK47R4/s2550/FII%20yearly%20data.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial;"><img border="0" data-original-height="922" data-original-width="2550" height="232" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgoCp5WPNsZsd8qmy35ql8IZhXZqHh2y9hMOlTvw0eB_TaeCmTKZ_fl73_58f5xQHbiHDrJRkkM1AoOdZ4x2QcKlmwVqIs_WGvnNu5ptF9_zGOmuaHQSVYXwSRrYx7q4Qfj5lr4aBU6jbgNZPntsIjoS8izajjiY6dUKP12Ec436Gd6C8JKiitc-kK47R4/w640-h232/FII%20yearly%20data.jpg" width="640" /></span></a></div><div><span style="font-family: arial;"><br /></span></div><div><span style="font-family: arial;">In Nifty 50 stocks, 48 ended the year positively. And large cap index gained 20% in 2023. </span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhw56xuxcOOPp1abhMiRvLon6vU_qF7q374cJMM65uTqlcyz5zXrp9rMBs3x0JCRlcwv9gvLeO-_GBZKY0hBvY_yWBFt9TKQdXgBvYUB5wmzOEcoWJCrBSP6NJqxN3MS7-_5PTLw9y3op3ApxFHCMbqiedFYak6RZ1zGbZbIvXV1CI5xcYa7Fc-lJrtyE/s1743/Top%20gainers%202023.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial;"><img border="0" data-original-height="485" data-original-width="1743" height="178" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhw56xuxcOOPp1abhMiRvLon6vU_qF7q374cJMM65uTqlcyz5zXrp9rMBs3x0JCRlcwv9gvLeO-_GBZKY0hBvY_yWBFt9TKQdXgBvYUB5wmzOEcoWJCrBSP6NJqxN3MS7-_5PTLw9y3op3ApxFHCMbqiedFYak6RZ1zGbZbIvXV1CI5xcYa7Fc-lJrtyE/w640-h178/Top%20gainers%202023.jpg" width="640" /></span></a></div><div><span style="font-family: arial;"><br /></span></div><div><span style="font-family: arial;">But the real winners in 2023 has been Mid and Small Caps - which gained 44% and 49% respectively. </span></div><div><span style="font-family: arial;"><br /></span></div><div><span style="font-family: arial;">The Midcap 100 index surged 46%, driven by REC Ltd. and Power Finance Corp., which gained 3.5 and 3.4 times, respectively. Mazagon Dock Shipbuilders Ltd. witnessed a near threefold increase in its share price, led by the push for indigenous defence production. Of the Midcap 100 pack, 93 stocks ended in the positive. Aditya Birla Fashion and Retail Ltd., ACC Ltd., and Page Industries Ltd. were the top laggards and experienced declines of 22.5% and 10%, respectively.</span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDPMJyzia7yzPjisWIDsaKSPcxLQccs_XSmWYca4iJ9rmvcGVJBCO0RXcLnPUx2joXbJIh5uf8zM3yT4CGVn9M5PpHz6MfCr1NSC00STs9F_sgTm7KK4enQLS-BOHzQbbIBkVWBLyQOTkLayUA8ZegzesHCAFi9v6qsNsDIbks3a8AlzOIxqThNOCOPkE/s948/Top%20gainers%202023%20Midcap.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial;"><img border="0" data-original-height="467" data-original-width="948" height="316" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDPMJyzia7yzPjisWIDsaKSPcxLQccs_XSmWYca4iJ9rmvcGVJBCO0RXcLnPUx2joXbJIh5uf8zM3yT4CGVn9M5PpHz6MfCr1NSC00STs9F_sgTm7KK4enQLS-BOHzQbbIBkVWBLyQOTkLayUA8ZegzesHCAFi9v6qsNsDIbks3a8AlzOIxqThNOCOPkE/w640-h316/Top%20gainers%202023%20Midcap.jpg" width="640" /></span></a></div><span style="font-family: arial;">The Smallcap 250 rose by 49% in 2023. BSE Ltd., with fourfold gains, emerged as the top performer in the pack. Suzlon Energy Ltd. saw a 3.6-fold increase, capitalising on the thrust for renewable energy. Campus Activewear Ltd. and Easy Trip Planners Ltd. faced challenges. <br /></span><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvErrIwLn1ZFtZJsLfXFBFe-cCG8OlbqjuEEoBwJUq8YQYBnTYeawOJvZNJtKA-EVgzz2FABRlGDg0MQJDu221Kwf9yYUqEDGR-23JxIVOZK0F2B2hnmvGasjagXIrBxcYY80EtLSt46sXmLR9oGwep88D818GqG-dc9ivUIwbbhe0Q7_6gciAZR5Ziio/s948/Top%20gainers%202023%20smallcap.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial;"><img border="0" data-original-height="416" data-original-width="948" height="280" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjvErrIwLn1ZFtZJsLfXFBFe-cCG8OlbqjuEEoBwJUq8YQYBnTYeawOJvZNJtKA-EVgzz2FABRlGDg0MQJDu221Kwf9yYUqEDGR-23JxIVOZK0F2B2hnmvGasjagXIrBxcYY80EtLSt46sXmLR9oGwep88D818GqG-dc9ivUIwbbhe0Q7_6gciAZR5Ziio/w640-h280/Top%20gainers%202023%20smallcap.jpg" width="640" /></span></a></div><div><span style="font-family: arial;"><br /></span></div><span style="font-family: arial;">Sectorwise, </span><div><ul style="text-align: left;"><li><span style="font-family: arial;">Nifty Realty led with an 81% surge, driven by Prestige Estates Projects Ltd., DLF Ltd., and Brigade Enterprises Ltd. </span></li><li><span style="font-family: arial;">Nifty Auto and Nifty Pharma also performed well, growing by over 47% and 32%, respectively. </span></li><li><span style="font-family: arial;">The auto sector gained due to steady demand, a softening of commodity prices and favourable policy changes this year. </span></li><li><span style="font-family: arial;">However, sectors like Nifty Bank, Nifty Oil and Gas, and Nifty Financial Services experienced more modest gains of 11%, 12%, and 12%, respectively.</span></li></ul><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjx7LoWAYse-EA7XdCrQvHN1k__6KS8KYd-x8q17JOFjAjAfeP83k-Zc_sIGJAtFneHYPYOg8W4UuWl38tiaLAFuC77sXVGiDVYybjBhRy4C6RW7pg74stWw80EEQRjwVpZg3SeBHBt1AHd5W0H882TGuK3PozCQBU9t4pde2CQbp6n7PsjOs2Sfu0NXj8/s948/Top%20gainers%202023%20sectors.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: arial;"><img border="0" data-original-height="774" data-original-width="948" height="522" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjx7LoWAYse-EA7XdCrQvHN1k__6KS8KYd-x8q17JOFjAjAfeP83k-Zc_sIGJAtFneHYPYOg8W4UuWl38tiaLAFuC77sXVGiDVYybjBhRy4C6RW7pg74stWw80EEQRjwVpZg3SeBHBt1AHd5W0H882TGuK3PozCQBU9t4pde2CQbp6n7PsjOs2Sfu0NXj8/w640-h522/Top%20gainers%202023%20sectors.jpg" width="640" /></span></a></div><span style="font-family: arial;"><br /></span><div><div><span style="font-family: arial;"><b>IPO Market:</b></span></div><div><span style="font-family: arial;">A vibrant IPO market is curcial for a healthy secondary market. 2023 will certainly be remembered as the year of the primary markets. And more infamously, IPOs in the SME space. Out of over 150 companies that hit the primary markets in the SME space, 51 companies hit subscription levels of over 100 times and 12 of those hit subscription levels of over 300 times! A logistics company received subscription for Rs 10,100 crore against the IPO size of Rs 32 crore. Another SME IPO received Rs 18,800 crore worth of bids against an IPO size of Rs 78 crore. And the most subscribed IPOs were not oversubscribed 'merely' 100-200 times. Kahan Packaging was subscribed 730 times. Speaks of the mania in the markets in 2023. </span></div><div><span style="font-family: arial;"><br /></span></div><div><span style="font-family: arial;"><b>Going Forward...</b></span></div><div><span style="font-family: arial;">FII's have just resumed their investments. And you have a BIG event in 2024 - Central Government elections in May 2024. Markets are running up on expectations. But investors need to keep in mind the following:</span></div><div><ul style="text-align: left;"><li><span style="font-family: arial;">Investments made when past year(s) returns have been muted - gives Best returns.</span></li><li><span style="font-family: arial;">Last year has been spectacular. Expecting similar kind of returns in 2024 may be tough.</span></li><li><span style="font-family: arial;">Run up to the elections is usually noisy. That can create lots of volatality.</span></li><li><span style="font-family: arial;">Cut in interest rates is widely expected in 2024. If that happens - that can fan liquidity and fuel inflation too. It can pump up stock price.</span></li><li><span style="font-family: arial;">Above all - a run up in stock price (hence MF's NAV) has to be substantiated by rise in earnings. It is ultimately the fundamentals which justify / determine the stock price.</span></li><li><span style="font-family: arial;">Having said that - while one year forward may be tough to predict, over next 3 to 5 years Indian economy is bound to do well. </span></li><li><span style="font-family: arial;">So Investors who need funds in next 1 years needs to be cautious. All others can invest at every opportunity you may get in the markets.</span></li><li><span style="font-family: arial;">But it FII's continue to invest - 2024 could be an year for Large cap's. </span></li></ul><div><span style="font-family: arial;">So multitude of factors - election results + Interest rate cut + FII Investment + Earnings Growth justification - are likely to dictate 2024. Asusual - it is Interesting times ahead...</span></div></div></div></div>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-16728598207111267182023-12-27T12:41:00.001+05:302023-12-27T12:41:28.138+05:30Be Passionate - Be Crazy - #Motilal Oswal<p> The difference between being passionate and being crazy is often hazy at best.</p><p>The most passionate individuals often seem to be nuts. The most gifted and successful artists, entrepreneurs, scientists, you name it, are often said to be a little crazy.</p><p>One such is our Stock broking partner - M/s Motilal Oswal Financial Services at Mumbai. While their office - Motilal Oswal Tower (MOT) is an iconic building in Prabha devi in Mumbai, the things that they do there is sometimes wiered. While illuminating the building to suite the occassion like Christmas or Diwali is ok, there are things that may look crazy to first timers.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpwLmUYY4CAqI6MvDPzYwQgULZKvGZ5n1VoNsAnf-dyMKO9_iGlKcUX8d5UWsSc-MPIh9f7gMtuyr1ggdqQDDO9DvEWYmvtAs_MtVudixX8ydo3vuxLImjWp97jOw49gKJSZn4RiBl5QSCz1dk_5BkyS7NnV8ANvVT5lXN1EPMwAHmhU5i72n4Oo1qda4/s1201/MOT.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="537" data-original-width="1201" height="286" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpwLmUYY4CAqI6MvDPzYwQgULZKvGZ5n1VoNsAnf-dyMKO9_iGlKcUX8d5UWsSc-MPIh9f7gMtuyr1ggdqQDDO9DvEWYmvtAs_MtVudixX8ydo3vuxLImjWp97jOw49gKJSZn4RiBl5QSCz1dk_5BkyS7NnV8ANvVT5lXN1EPMwAHmhU5i72n4Oo1qda4/w640-h286/MOT.jpg" width="640" /></a></div><p>It begins with the LIFT BUTTON - For going up - you have BULL symbol and for going down you have a BEAR symbol. That sums it up. Do they mean - what goes up cannot stay there for ever and it has to come down. ... or something else. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixEpIVz5F5guJH4l7MsZVqZPmA2MwAjCYdejMpOBD7T7xR-lVMMRX_i770l2i3vTw9WMThCvL2wRgshlF52gXkEhgR9EC5pe2j69KlzpSaXUwyXQ980JJR9CPSpvumBUjru5ScDC8W4ANwA_gKA99BbQ4cnyqu3c4FzzImMfFmEIikPNMcRK-_ahXw3eQ/s1022/MOT%20lift.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1022" data-original-width="767" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixEpIVz5F5guJH4l7MsZVqZPmA2MwAjCYdejMpOBD7T7xR-lVMMRX_i770l2i3vTw9WMThCvL2wRgshlF52gXkEhgR9EC5pe2j69KlzpSaXUwyXQ980JJR9CPSpvumBUjru5ScDC8W4ANwA_gKA99BbQ4cnyqu3c4FzzImMfFmEIikPNMcRK-_ahXw3eQ/s320/MOT%20lift.jpg" width="240" /></a></div><p>And I leave it to your imagination on how dealing room, Cafetaria and wash rooms looks like. </p><p>You can breath, see, feel and experience stock market all through this building. Indeed it is a place to visit for stock market investors . </p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-15586684140516385502023-12-27T12:05:00.004+05:302023-12-27T15:04:11.511+05:30Secret Behind Success... Mr. Pankaj Tiberwal of Kotak AMC<p>Retaining Talent - is THE BIGGEST CHALLENGE in any profession. But you can't do much when people want to move out for whatever reason it is.</p><p>In Investment Management industry - it is this talent that dictates results. While no one is to debate the role of process, team work etc, it is the ultimate decisions - made by fund managers - which deliver results. And when such fund Managers call it a day - for what ever reason it may be, it is indeed a loss to the organization. But it could be good for both people - if they are able to evolve better than before.</p><p>Rarely Fund managers have a decent exit. One such has been for Mr.Pankaj Tiberwal of Kotak AMC. Infact he has left a farewell note - for the benefit of everyone. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvqbeeelgbzRmwNnfumPg29M8O9qX1q2d2RCYdijnPmKtrr25aw1w-HZWp5K8tyCDODK1dYnBOU4ra0v4GTeHiGs-1TTurnctBAOwR8U-72SZVyr2vanxk-HSez0pUzTb6A9Pfv2yj0TTZCBtJ7YqAZ-u4MHrbAVEg2rJVyBNTEORDJcEadFJl9lQa1-4/s1923/0006.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1923" data-original-width="1758" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgvqbeeelgbzRmwNnfumPg29M8O9qX1q2d2RCYdijnPmKtrr25aw1w-HZWp5K8tyCDODK1dYnBOU4ra0v4GTeHiGs-1TTurnctBAOwR8U-72SZVyr2vanxk-HSez0pUzTb6A9Pfv2yj0TTZCBtJ7YqAZ-u4MHrbAVEg2rJVyBNTEORDJcEadFJl9lQa1-4/w586-h640/0006.jpg" width="586" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYquYn1a3eSO8aPQbglPESsb34MmKLx1LsYYs7N5bVLbZC0yzXIV24zwLHrPaiSYn8DeVYI2CPfnr5lY3pjWEFoHAf2uEf-J4XX0U3_ZLSmJYWJ5AGE0p1pe-ArlF6QBaFGKKIGCitP-tnJtJ0ObUcdfN5WwLjuFxSBLLkJgf8Srpib4hTgo0wmJfvZtM/s1600/Kotak%20pankaj.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="811" data-original-width="1600" height="324" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYquYn1a3eSO8aPQbglPESsb34MmKLx1LsYYs7N5bVLbZC0yzXIV24zwLHrPaiSYn8DeVYI2CPfnr5lY3pjWEFoHAf2uEf-J4XX0U3_ZLSmJYWJ5AGE0p1pe-ArlF6QBaFGKKIGCitP-tnJtJ0ObUcdfN5WwLjuFxSBLLkJgf8Srpib4hTgo0wmJfvZtM/w640-h324/Kotak%20pankaj.jpg" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><p>Following is the gist of this letter:</p><p class="MsoNormal" style="margin-left: 18pt;"></p><ol style="text-align: left;"><li>Joins Kotak MF in 2009</li><li>In 2010 – Fund manager of Kotak
Emerging Equity Fund (Rs.113 Cr) and Kotak Small Cap Fund (Rs. 127 Cr). Today
KEEF is Rs.36000 Cr (2<sup>nd</sup> largest Midcap Fund in Industry) and KSC is
13000 (4<sup>th</sup> largest Small cap in Industry)</li><li>400 unique names identified and
invested in 14 yrs</li><li><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhc0wYSX3LVN6gTPTOWLK2uykipHiFx33u521U7pyJayBEKdT5JzcZBczHwnOAESqtHAcNLisMm2JXPuCrD6517_lgGcSSC5e3Qt2YJHci4fu5w8A4Y2yC7LtxoxnDifjx2cPk0fENzaSaBcnUrtVJEk7UQwzur7hS1yI8RR2KGZD65kiBXhcg6ROFvDRU/s2724/0005.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2724" data-original-width="1906" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhc0wYSX3LVN6gTPTOWLK2uykipHiFx33u521U7pyJayBEKdT5JzcZBczHwnOAESqtHAcNLisMm2JXPuCrD6517_lgGcSSC5e3Qt2YJHci4fu5w8A4Y2yC7LtxoxnDifjx2cPk0fENzaSaBcnUrtVJEk7UQwzur7hS1yI8RR2KGZD65kiBXhcg6ROFvDRU/w448-h640/0005.jpg" width="448" /></a></div><br /></li><li>Point to Point return – can be
influenced by start date and end date</li><li>Rolling return is better metric</li><li>Investment philosophy:</li></ol><p></p><p class="MsoNormal" style="margin-left: 18pt;"></p><ul style="text-align: left;"><li>Trust takes time to build. Can be
lost instantly. Reputation and Integrity – most valuable</li><li>Avoid short cuts. Maintain
ethical decision making.</li><li>To Cut noise: Invert. Rather on
focusing on where you can make 2x return over 1-2 Yrs, focus on where you can
lose money over next few yrs. Maintain check list of factors for company
selection. Avoid BIG mistakes.</li><li>Process – more important.
Fundamental analysis. </li><li>Portfolio Construction – Gorilla
to King Kong Strategy. Invest in 50 leading names – some could become King
Kongs.</li><li>To avoid:</li></ul><p></p><p class="MsoNormal" style="margin-left: 54pt;"></p><ol style="text-align: left;"><ol><li>Avoid extreme portfolio
allocation. Monitor Sector / Stock weight relative to benchmark</li><li>Don’t Chase Momentum</li><li>Prioritize valuation
cosiderations </li><li>Focus on earnings capacity rather
than earnings itself.</li></ol></ol><p></p><p class="MsoNormal" style="margin-left: 54pt;"><o:p></o:p></p><p class="MsoNormal" style="margin-left: 90pt;"><o:p></o:p></p><p class="MsoNormal" style="margin-left: 90pt;"><o:p></o:p></p><p class="MsoNormal" style="margin-left: 90pt;"><o:p></o:p></p><p class="MsoNormal" style="margin-left: 90pt;"><o:p></o:p></p><p class="MsoNormal" style="margin-left: 54pt; text-align: left;"></p><ul style="text-align: left;"><li>Stay Calm – Avoid overconfidence - Meditate 15 to 30 min a day</li></ul><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhE4XTqw9XhaT-jjg7b6ThyRzrkQ-8MESQzZ2ST-Z3v0icOAtlCcmZb4__Cx7XC9su-fKHgQ18GZeBcGXLHi-x65x3HX_LGETRQ0UffFJVz6tltK6l3ANWgAxaRxs5BqCL-xUptc00n7Z73fnMTKTPptXW780AWEriHKlVWkhyphenhyphen8PhQqm00OSds56TYckLU/s3794/0001.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2822" data-original-width="3794" height="476" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhE4XTqw9XhaT-jjg7b6ThyRzrkQ-8MESQzZ2ST-Z3v0icOAtlCcmZb4__Cx7XC9su-fKHgQ18GZeBcGXLHi-x65x3HX_LGETRQ0UffFJVz6tltK6l3ANWgAxaRxs5BqCL-xUptc00n7Z73fnMTKTPptXW780AWEriHKlVWkhyphenhyphen8PhQqm00OSds56TYckLU/w640-h476/0001.jpg" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPCUPA8hrGl9ybw6486ZzXbAMtJm1KC6JaK_PCGgi4QsDwN42Mv8E-jBkADZlSTMG5DlPhOFS3rp5EfXPFP6mMJBJqu8KMu7n5JWQlbNQ4GKxxcxPVh3mDxU_E4QMWCRYmYfPqbK1U_hYC1Q8FNVoUVkekFIO6gEsbPP8uwt6-RHy8KoQ6kR8LNEhJ3oY/s3713/0003.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2746" data-original-width="3713" height="474" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPCUPA8hrGl9ybw6486ZzXbAMtJm1KC6JaK_PCGgi4QsDwN42Mv8E-jBkADZlSTMG5DlPhOFS3rp5EfXPFP6mMJBJqu8KMu7n5JWQlbNQ4GKxxcxPVh3mDxU_E4QMWCRYmYfPqbK1U_hYC1Q8FNVoUVkekFIO6gEsbPP8uwt6-RHy8KoQ6kR8LNEhJ3oY/w640-h474/0003.jpg" width="640" /></a></div><br /><div><br /></div>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-49874480418164751292023-12-27T11:35:00.001+05:302023-12-27T11:35:51.999+05:30Prasanth Jain - Farewell : Not so great<div>One of India's longest serving fund manager Mr.Prasanth Jain quit his job in July 2022. </div><div><br /></div>In the last minute I got a message that there is a zoom meeting which will be addressed by Mr.Prasanth Jain for one last time at HDFC Mutual Fund. It was scheduled by 4pm or so - if I recollect right. I was right there on time. And the meeting ended in flat 15 minutes. <div><br /></div><div>And a month later the fund house 'released' a 'farewell' letter writtend by Prasanth. For a person who has created so much wealth for investors, for a fund house which sold all its funds saying his name, it was indeed a shabby farewel. </div><div><br /></div><div>Anyway - thought of posting this letter today for following reasons:</div><div><ol style="text-align: left;"><li>is indeed a treasure trove of information. </li><li>Another fund manager - from another AMC has also resigned and he has also posted a farewell letter. Before I post Pankaj's letter - I thought it is right to post Mr.Prasanth Jain's letter.</li></ol></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1IrlxqIIuuD-1qTV40EZ1sPKRZ1Xyxx1NdWlLUvH72DEjBVWYTEDRmocOB04g5UH2MzeBamyagM5MVIo9tmlDvE7n6F-FBSUzqxV22z1Mr-b3rZLuNo7IU5ERu40tWqnbznJWrv82nWILZL1QlLARg5PONl0Dz8MTFeAdR7KqizDsOCZAV1h43bR2llM/s618/prasanth%20jain.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="461" data-original-width="618" height="239" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh1IrlxqIIuuD-1qTV40EZ1sPKRZ1Xyxx1NdWlLUvH72DEjBVWYTEDRmocOB04g5UH2MzeBamyagM5MVIo9tmlDvE7n6F-FBSUzqxV22z1Mr-b3rZLuNo7IU5ERu40tWqnbznJWrv82nWILZL1QlLARg5PONl0Dz8MTFeAdR7KqizDsOCZAV1h43bR2llM/s320/prasanth%20jain.jpg" width="320" /></a></div><br /><div><br /></div><div><div>Here's an extract from the letter where Jain shares his key learnings:</div><div><br /></div><div>a. In my experience, efficient markets hypothesis does not hold true, especially over short to medium periods. Markets can be driven by emotion and herd behaviour for extended periods</div><div><br /></div><div>b. Sizing is very important. Any portfolio will have its share of big winners, winners, losers and big losers. In my case roughly 1/4 were losers, 1/100 were big losers, 1/20 were big winners and the rest were winners.</div><div><br /></div><div>c. The data above in (b) highlights what Warren buffet has famously said – Rule no 1 don’t lose money, rule 2, don’t forget rule no 1. I have made more mistakes of omission than commission – some prominent missed opportunities were Asian Paints, Bajaj Finance, Eicher, Kotak Bank, Divi’s laboratories, etc., but successfully avoided the long list of businesses that caused large and permanent loss of capital.</div><div><br /></div><div>d. Markets are reasonably efficient over long periods. The duration of mispricing or inefficiency can vary from several quarters to several years. It is important in this period to stay the course and remain solvent (for a mutual fund manager this means to retain the job / fund).</div><div><br /></div><div>e. Equities are a generous asset class. The tailwind of a growing economy and growing companies overshadows mistakes of timing and security selection in diversified portfolios in most cases over long periods. The key is patience to stay invested for long periods.</div></div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg50VDbeyuEtePmTPupbo7VV0B0RAiPN6MkWX9mky4dw8pNc6mugLs94whmIxpTfcimfcnbzHXcEnA0Pk_2_1maTsj4UiTVRMGbJNQaTV30PfPFfqhrnZbkZxFw8dh3cx1iydWh3nqZJL-MW1syJpr2Ock0p5PTBoYh3rr40q_H-CxrB-G4dBmlUXkJsKI/s4286/0001.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="3509" data-original-width="4286" height="524" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg50VDbeyuEtePmTPupbo7VV0B0RAiPN6MkWX9mky4dw8pNc6mugLs94whmIxpTfcimfcnbzHXcEnA0Pk_2_1maTsj4UiTVRMGbJNQaTV30PfPFfqhrnZbkZxFw8dh3cx1iydWh3nqZJL-MW1syJpr2Ock0p5PTBoYh3rr40q_H-CxrB-G4dBmlUXkJsKI/w640-h524/0001.jpg" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZKcJcIsLFlwEQqlTDoD1Xu6jkPJCEPO48qom8IxJSOaIk68dQQaMs3aW9xm_FLqtMgtpOMhBVbkFbIsUMOvJtJTZPTOmZck1fVfEnYzPmhtyr_H-tz9YmRxxW0J0F36x6_efywxnbx5Slu-fJm1pF8NlcMTmLjFcH7ClVaC7U1fyjGlSIKpg9mkeX4F0/s4133/0003.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="3422" data-original-width="4133" height="530" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZKcJcIsLFlwEQqlTDoD1Xu6jkPJCEPO48qom8IxJSOaIk68dQQaMs3aW9xm_FLqtMgtpOMhBVbkFbIsUMOvJtJTZPTOmZck1fVfEnYzPmhtyr_H-tz9YmRxxW0J0F36x6_efywxnbx5Slu-fJm1pF8NlcMTmLjFcH7ClVaC7U1fyjGlSIKpg9mkeX4F0/w640-h530/0003.jpg" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIG7z6OMVtw_xHFnhl2gLczQyT59tBKtVjAwzIvMkFZkazZh0rVxf6jH1AmH2vsaeG6MJE7c5HukNpWTlansKSmQJvyXksER9sFsDN0Zew7NS_9JgaUXXDpgekt1OhpXxU764G5t2TaBEHA-_UdJFC9XGadLx8k9FTVlItUK97Q2TSmRdUJY2AEKQ9wMU/s4122/0005.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="3509" data-original-width="4122" height="544" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiIG7z6OMVtw_xHFnhl2gLczQyT59tBKtVjAwzIvMkFZkazZh0rVxf6jH1AmH2vsaeG6MJE7c5HukNpWTlansKSmQJvyXksER9sFsDN0Zew7NS_9JgaUXXDpgekt1OhpXxU764G5t2TaBEHA-_UdJFC9XGadLx8k9FTVlItUK97Q2TSmRdUJY2AEKQ9wMU/w640-h544/0005.jpg" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8i9etCY87TidXtQOwnOrFEO_4wTHdnu8xrGAf6eOTJH1JNBwqqtdK8NAdDB_T0ihEEjf8Y2KvI-_rwz_NeBT_LGGCMY24Cs2ATrznwRFPA53_RRxap8gVtlYIg5iwq-900npMArutP2xtg8_skDATMYFhjklj4DKHPJQEBeFS_ZSp3-OUk8oh3yUFxLE/s4624/0007.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="3425" data-original-width="4624" height="474" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8i9etCY87TidXtQOwnOrFEO_4wTHdnu8xrGAf6eOTJH1JNBwqqtdK8NAdDB_T0ihEEjf8Y2KvI-_rwz_NeBT_LGGCMY24Cs2ATrznwRFPA53_RRxap8gVtlYIg5iwq-900npMArutP2xtg8_skDATMYFhjklj4DKHPJQEBeFS_ZSp3-OUk8oh3yUFxLE/w640-h474/0007.jpg" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgunnYOap0OZFs4PYA_mjEGs2G6ZqMvG278j-hcCz8KfplMmVcsCSGEzlp4TSLJDpzGvnH2s7i3d-rXD0Pamqin59esdZhyz0-CF4tdDjDW6pYitg_yupVFtxOHk2PGfeRrCtYqxRnkPmlT11UY2OisiJA2VWPoFn8yaQ5JIGp8LchmsnNOVW6pnLnolYA/s4913/0009.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="3508" data-original-width="4913" height="456" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgunnYOap0OZFs4PYA_mjEGs2G6ZqMvG278j-hcCz8KfplMmVcsCSGEzlp4TSLJDpzGvnH2s7i3d-rXD0Pamqin59esdZhyz0-CF4tdDjDW6pYitg_yupVFtxOHk2PGfeRrCtYqxRnkPmlT11UY2OisiJA2VWPoFn8yaQ5JIGp8LchmsnNOVW6pnLnolYA/w640-h456/0009.jpg" width="640" /></a></div><br /><div><br /></div>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-12272908163210844842023-10-15T10:00:00.002+05:302023-10-15T10:00:23.143+05:30Impeccable Vellayan Subbiah – Executive Vice Chairman, TI Industries, Chairman SRF Ltd.<p>•<span style="white-space: pre;"> </span>Son of M.V.Subbiah of Murugappa Group</p><p>•<span style="white-space: pre;"> </span>UG from IIT Madras</p><p>•<span style="white-space: pre;"> </span> MBA from the University of Michigan</p><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgiDpyjTKsag8Dc7oZf27VzK2gLGO4F901wZ9Pb6SbM5Tv0ywymTTN3j4aqsuRl3EXMM01WTYQx82BKKo4eiJzAwn_hFzs2UXPfr2PVOBQM6zDgfzvJa40DVKPzo6vf7L1Dnyj-4zr3GIyza8cuQQTfKY19enUhLsnsh0R4QCLZIeeq-0TSNyTtIb0hECA" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="" data-original-height="210" data-original-width="293" height="229" src="https://blogger.googleusercontent.com/img/a/AVvXsEgiDpyjTKsag8Dc7oZf27VzK2gLGO4F901wZ9Pb6SbM5Tv0ywymTTN3j4aqsuRl3EXMM01WTYQx82BKKo4eiJzAwn_hFzs2UXPfr2PVOBQM6zDgfzvJa40DVKPzo6vf7L1Dnyj-4zr3GIyza8cuQQTfKY19enUhLsnsh0R4QCLZIeeq-0TSNyTtIb0hECA" width="320" /></a></div><br /></div><p></p><p>•<span style="white-space: pre;"> </span>2009 – DBS ends partnership with Cholamandalam Finance</p><p>•<span style="white-space: pre;"> </span><b>Aug 2010 – S Vellayan takes over as MD of Cholamandalam</b></p><p>•<span style="white-space: pre;"> </span><b>Till he stepped down in 2017 – Cholamandalam Income compounded at 25% and profits compounded at 42.87%. </b></p><p>•<span style="white-space: pre;"> </span>Today Cholamandalam trades at a premium to competition — 6.85x 12-month trailing price-to-book compared to 1.99x for Mahindra Financial and 2.99x for Sundaram Finance.</p><p><br /></p><p>•<span style="white-space: pre;"> </span><b>2018 to 2022 – MD of Tube Investments</b></p><p>•<span style="white-space: pre;"> </span>TI Industries – </p><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><b>o<span style="white-space: pre;"> </span>2018 - Market Cap: Rs.4000 Cr.</b></p><p><b>o<span style="white-space: pre;"> </span>2023 – Market Cap : Rs.64000 Cr.S</b></p><p><b>o<span style="white-space: pre;"> </span>The market cap has compounded at 72.74%</b></p><p>o<span style="white-space: pre;"> </span>Today’s PE: 66X</p><p><b>o<span style="white-space: pre;"> </span>FY 20-23 : Sales – Compounding at 47.25%, Profit after Tax – Compounding at 46.11%</b></p><p>o<span style="white-space: pre;"> </span>3 Main Verticals – Engineering , Metal formed Products, Industrial Chains</p><p>o<span style="white-space: pre;"> </span>70% revenue from automobile industry</p></blockquote><p>o<span style="white-space: pre;"> </span><b>To derisk – 3 Pillar Strategy - diversifying into:</b></p><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><b><span style="white-space: pre;"> </span>Organic Growth in Existing Business.</b></p><p><b><span style="white-space: pre;"> </span>Venture Capital Style investing</b></p></blockquote><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p style="text-align: left;">•<span style="white-space: pre;"> </span><b>Optic Lens</b> – for automotive industry</p></blockquote></blockquote><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><p style="text-align: left;">o<span style="white-space: pre;"> </span>Currently manufacturing 5 Lakh lenses a month</p></blockquote></blockquote></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>•<span style="white-space: pre;"> </span><b>3 Wheeler Electric Vehicle</b> Manufacturing</p></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>o<span style="white-space: pre;"> </span>TI Clean Mobility</p></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>o<span style="white-space: pre;"> </span>Acquired 2 companies: </p></blockquote></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><span style="white-space: pre;"> </span>Celestial eMobility – Mfr 55 HP e Tractor</p></blockquote></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><span style="white-space: pre;"> </span>IPL Tech Electric – Mfr Medium & Heavy duty commercial vehicles</p></blockquote></blockquote></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>o<span style="white-space: pre;"> </span>Current production Capacity per annum:</p></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><span style="white-space: pre;"> </span>E 3 Wheelers – 19000 Units</p></blockquote></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><span style="white-space: pre;"> </span>E Tractors – 25000 Units</p></blockquote></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><span style="white-space: pre;"> </span>E Trucks – 2500 Units</p></blockquote></blockquote></blockquote></blockquote><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><blockquote style="border: none; margin: 0 0 0 40px; padding: 0px;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p style="text-align: left;">o<span style="white-space: pre;"> </span>To rampup production: invested Rs. 1950 Cr along with Co investors. Additional Rs.1050 Cr mobilization is underway.</p></blockquote></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>•<span style="white-space: pre;"> </span><b>Inorganic Growth</b></p></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>o<span style="white-space: pre;"> </span>Acquired CG Power for Rs.800 Cr in FY 21</p></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>o<span style="white-space: pre;"> </span>Turned it from loss to profit in just one year</p></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>o<span style="white-space: pre;"> </span>From loss of Rs.1323 Cr to profit of Rs. 1295 Cr</p></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p>o<span style="white-space: pre;"> </span>Green pasture in Manufacturing space</p></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><span style="white-space: pre;"> </span>Acquired Lotus Surgicals</p></blockquote></blockquote><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><blockquote style="border: none; margin: 0px 0px 0px 40px; padding: 0px; text-align: left;"><p><span style="white-space: pre;"> </span>To participate in infra growth – invested Rs.140 Crores into manufacturing of large diameter tubes</p></blockquote></blockquote></blockquote><p>•<span style="white-space: pre;"> </span><b>Mr. Ashish Bharat Ram of SRF made S.Vellayan’s as the chairman of SRF</b>, a multi speciality chemical company. He says <b>“…What I admire about his leadership style is that he believes in hiring the right talent, empowering his team, and allowing them the freedom to execute and deliver successful outcomes. His ability to think creatively and critically to solve complex problems and make informed decisions has helped him stay ahead of the competition,”</b> </p><p>•<span style="white-space: pre;"> </span>Vellayan strongly believe that: <b>debt must be a manageable burden, ensuring that it never surpasses two times the annual free cash flow</b> — a threshold designed to maintain financial stability. He has achieved that by equally mastering the art of strategic partnerships to mitigate the capital burden on his company. </p><p>•<span style="white-space: pre;"> </span>In a recent analyst call <b>S. Vellayan says “Most of our businesses are focused on first getting an established position in the domestic market and following that up with export opportunities. We are very focused on both capital allocation and capital efficiency, which is why for the surgicals business we partnered with Premji Invest to reduce the capital outlay. For the EV business, we partnered with Multiples to reduce the potential capital burden,”</b></p><p>•<span style="white-space: pre;"> </span>He understands that nurturing growth requires patience — an antithesis to the marathon mindset on the Street fixated on quarterly sprints</p><p><b>Full article can be read at: https://www.fortuneindia.com/long-reads/the-thalaiva-at-murugappa-group/114344</b></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-79992506073235135762023-09-08T07:26:00.005+05:302023-09-08T07:30:26.474+05:30The Choice Keeps Growing... in Indian Mutual Fund SpaceAfter a long time - the choice has started growing for the Indian Mutual Fund Investors. Veteran Fund managers who were working with various fund houses but quit the job for whatever reason it is, are now back with their own mutual fund companies.<div><br /></div><div>Here is an article that we published in our newsletter - MONTHLY MEMO - elaborating on the benefits of growing choices.</div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgu6TwmE9t3j_T8dZvh-mgxkwxr9ShKs36KXvZ8PQIt7_dBy_9gCuUuRI-oAbTKe-Zasw4HiH736noy1AAL7FOtL0nxGsYWjXHcCcLRqkXnAmTsOBNkLB0RV045EvPsxJrs_QPw-o68HMT9m46Wz9eZA_CSzmjIWBq463KB28fstzhzzhHp7jJhq7pN1hg/s909/New%20MF's.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="846" data-original-width="909" height="445" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgu6TwmE9t3j_T8dZvh-mgxkwxr9ShKs36KXvZ8PQIt7_dBy_9gCuUuRI-oAbTKe-Zasw4HiH736noy1AAL7FOtL0nxGsYWjXHcCcLRqkXnAmTsOBNkLB0RV045EvPsxJrs_QPw-o68HMT9m46Wz9eZA_CSzmjIWBq463KB28fstzhzzhHp7jJhq7pN1hg/w477-h445/New%20MF's.jpg" width="477" /></a></div><div>Added to this list are two other celebrated fund Managers - Mr. Samir Arora of Helios Capital (Ex-Alliance Mutual Fund) and Mr.Kenneth Andrade of Old Bridge (Ex IDFC Mutual Fund). And not but not the least - Zerodha - One of India's leading discount broking house - is also in the fray with a mission to bring in the Vangurad experience to Indian Investors.</div><div><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh36tdxA87Ick7hhV6a8Xt_DjJRCiLPwmcjLi-R3f-P3Zs11mogRqeW1gg4SuVyVi5LtZFrqp9GALGqNRQT5f9_mpwsR1n88Bqee1uPzfYm97OJmT1ef4omRuMmhZWxbfaUh58W33taTrQFJjcSX1OZq1_7iyCI4zpXbmtpFcx7qLHcJr-GmZpRDlL7OB8/s3317/oldbridge.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="3317" data-original-width="1223" height="841" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh36tdxA87Ick7hhV6a8Xt_DjJRCiLPwmcjLi-R3f-P3Zs11mogRqeW1gg4SuVyVi5LtZFrqp9GALGqNRQT5f9_mpwsR1n88Bqee1uPzfYm97OJmT1ef4omRuMmhZWxbfaUh58W33taTrQFJjcSX1OZq1_7iyCI4zpXbmtpFcx7qLHcJr-GmZpRDlL7OB8/w310-h841/oldbridge.jpg" width="310" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpS0Bx0iscse4C8MBqK4fM-vgYYvRoVjnQt9s4olQl-wpxGn8C83gjp1ekSEvL4ap6So_YaDU1ANx2POsp8VmkEv-hmJnGXT0s6LmotbcM21UPIrNR8LnA1roMiYY57UVoSBog0QOb_B7bdBBwRcLpiD4avvgyboxbR0hKUmH-FvU_oAUyluejVITiny4/s686/samir.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="462" data-original-width="686" height="324" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpS0Bx0iscse4C8MBqK4fM-vgYYvRoVjnQt9s4olQl-wpxGn8C83gjp1ekSEvL4ap6So_YaDU1ANx2POsp8VmkEv-hmJnGXT0s6LmotbcM21UPIrNR8LnA1roMiYY57UVoSBog0QOb_B7bdBBwRcLpiD4avvgyboxbR0hKUmH-FvU_oAUyluejVITiny4/w480-h324/samir.jpg" width="480" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3SvQ-EiC250P69lTzazN7xhEDraOWn2oAA1IKJivSHvvmNWgjDd2oh60baviLAUJVPkdxchESf8GhslFUaKFGZ0tRJpGaF_jQISDO_M5XRMx6bf_fXDphMX0gnOQv2-pUok88ZCIIsWr87h-Tvki1uf-Tns_jrN4C8AmpmlUNeMF2YOIiwqwWmFU6ugg/s1779/zerodha1.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="630" data-original-width="1779" height="268" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3SvQ-EiC250P69lTzazN7xhEDraOWn2oAA1IKJivSHvvmNWgjDd2oh60baviLAUJVPkdxchESf8GhslFUaKFGZ0tRJpGaF_jQISDO_M5XRMx6bf_fXDphMX0gnOQv2-pUok88ZCIIsWr87h-Tvki1uf-Tns_jrN4C8AmpmlUNeMF2YOIiwqwWmFU6ugg/w759-h268/zerodha1.jpg" width="759" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><b><br /></b></div><div><b>And here is an article on the heating up Asset Management Market: Do take time and read it out</b></div><div><a href="https://www.businessinsider.in/investment/news/indias-asset-management-market-set-for-more-star-power/articleshow/103426815.cms">https://www.businessinsider.in/investment/news/indias-asset-management-market-set-for-more-star-power/articleshow/103426815.cms</a></div><div><br /></div><div><br /></div><div><br /></div>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-15661423963007900312023-09-06T16:40:00.016+05:302023-09-06T17:25:17.339+05:30TIA 20-20 : Stock Taking<p><span style="font-family: verdana;">As I gear up to attend TIA’s Bullet proof Investing on
coming Saturday 9<sup>th</sup> Sept 2023, I was reflecting on the immediate past
event – the 20-20 event that happened on 18<sup>th</sup> Feb 2023. </span></p><p class="MsoNormal"><span style="font-family: verdana;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: verdana;">Tamilnadu Investors Association (TIA) is India’s first investor associations - way back in 1989. it is one of India's finest associations imparting knowledge on regular basis. They conduct two mega PAID events every year
: 20-20 being one and Bullet Proof Investing is another. Both events happen in Chennai
– on national, if not on international standard. For me, <b>it is like PILGRIMAGE TO OMAHA</b> - to attend Warren Buffet's <span style="background-color: white; text-align: -webkit-center;">BERKSHIRE HATHAWAY</span><b style="background-color: white; text-align: -webkit-center;"> </b>AGM.</span></p>
<p class="MsoNormal"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6psghBKiw6dM3inTbMFaxOe0D4BTUehSu_wUDBbxDTQzWAXa2rGeBYihofoU5KRStRt-BXxlryIrtXgtwfB_4rQDCu_4vXZ46o9g8a9lWvwIM34mYRg7l7e2WyB1wjKtjDtK30TT-dHcns3n55s1Cwuon4FWXRemhwA8ANosshWygKxBERrHgAM7aF1o/s1600/WhatsApp%20Image%202023-09-06%20at%203.46.49%20PM.jpeg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: verdana;"><img border="0" data-original-height="1066" data-original-width="1600" height="307" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6psghBKiw6dM3inTbMFaxOe0D4BTUehSu_wUDBbxDTQzWAXa2rGeBYihofoU5KRStRt-BXxlryIrtXgtwfB_4rQDCu_4vXZ46o9g8a9lWvwIM34mYRg7l7e2WyB1wjKtjDtK30TT-dHcns3n55s1Cwuon4FWXRemhwA8ANosshWygKxBERrHgAM7aF1o/w463-h307/WhatsApp%20Image%202023-09-06%20at%203.46.49%20PM.jpeg" width="463" /></span></a></div><span style="font-family: verdana;">20-20 is an event in which 20 Investors / analysts come and
share their investment thesis for 20 minutes each. Hence the name 20-20. The
main take away for investors is – they can learn how to approach in analysing –
rather than buying a stock blindly on hear say. And if at all one invests, they
need to do their due diligence before investing. <o:p></o:p></span><p></p>
<p class="MsoNormal"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqTrYXUunYnYZjChkIhd9xallRV1Hgwksg4ZtuK3cH_5g2ZtPWdWIRerWstXmqoZL1DfbVjfUodJJ8gS2xk2fwfqKZP1nrJUKSXer2BGOiCjMf74QjEkR8YV6OOpSeAOVVfQmIkrkFiCNgDfCU4f3lWM4pAYTnl3TCk-DHZ_IxK4NtT7BXs0obAfdyWp0/s960/WhatsApp%20Image%202023-09-06%20at%203.46.47%20PM.jpeg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: verdana;"><img border="0" data-original-height="540" data-original-width="960" height="242" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiqTrYXUunYnYZjChkIhd9xallRV1Hgwksg4ZtuK3cH_5g2ZtPWdWIRerWstXmqoZL1DfbVjfUodJJ8gS2xk2fwfqKZP1nrJUKSXer2BGOiCjMf74QjEkR8YV6OOpSeAOVVfQmIkrkFiCNgDfCU4f3lWM4pAYTnl3TCk-DHZ_IxK4NtT7BXs0obAfdyWp0/w430-h242/WhatsApp%20Image%202023-09-06%20at%203.46.47%20PM.jpeg" width="430" /></span></a></div><span style="font-family: verdana;">And Bullet Proof investing is an event where in veteran
investors – who have proved themselves – share their rich experience. Unlike 20-20,
there are usually 6 speakers in the Bullet Proof Investing Seminar.<o:p></o:p></span><p></p>
<p class="MsoNormal"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuIRjrHOA-SXilsSQXNWhjb1Fda4eDBBvgUMXnZD3WKynRE_LGi0OczTQ2XTF7NT7MAcypURld9RiLYUCDpuZih0Cog8KnrdcQZnVdYriAJd-rMVKDPvx6BaAvxhlmAR0XDaMCmiH00uSiZ_J0IVYkdJRr7Nfa4XRSqc9XNFNlegtaEFMjMQcxWucGyiU/s1600/WhatsApp%20Image%202023-09-06%20at%203.46.50%20PM.jpeg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: verdana;"><img border="0" data-original-height="1066" data-original-width="1600" height="278" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuIRjrHOA-SXilsSQXNWhjb1Fda4eDBBvgUMXnZD3WKynRE_LGi0OczTQ2XTF7NT7MAcypURld9RiLYUCDpuZih0Cog8KnrdcQZnVdYriAJd-rMVKDPvx6BaAvxhlmAR0XDaMCmiH00uSiZ_J0IVYkdJRr7Nfa4XRSqc9XNFNlegtaEFMjMQcxWucGyiU/w418-h278/WhatsApp%20Image%202023-09-06%20at%203.46.50%20PM.jpeg" width="418" /></span></a></div><div class="separator" style="clear: both; text-align: center;"><span style="font-family: verdana;"><br /></span></div><span style="font-family: verdana;">While it is a paid event – the
ideas shared there are immediately / instantly tweeted by ‘good hearts’. And in
stock market – all that investors want is TIPS. As a result, the points discussed there become open secret. <o:p></o:p></span><p></p>
<p class="MsoNormal"><span style="font-family: verdana;">But the real objective of such meeting is to make investors
involve in evolving an investment process and stay invested for long term. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: verdana;"><b><u>20-20 Stock Analysis:</u></b><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: verdana;">This calendar year’s 20-20 event happened on 18<sup>th</sup>
Feb 2023. On Monday – 20<sup>th</sup> Feb 2023, Sensex was then 60691. As of 6<sup>th</sup>
Sept 2023, while composing this article, Sensex is 65650. <b>On Sensex, that’s a
gain of 4959 points or 8% gain. </b></span></p><p class="MsoNormal"><span style="font-family: verdana;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="font-family: verdana;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj__msfDvkhvMDoEpFSrR7D0J0Xf8NgLm1qCHJrVEdGltw39OdW4ObvY8PZ35v1VWlVICZ6imk1VnftjCSVvbT118lbAAXhaPND2rRYlNitlzC3FzZ2E4T0TMaruuuqlq-pQ1GMdmOEh9Z2E9huhFUnBvLQ3-mthQyxYYupjOh4mq5MJ6wsZcl8yEkskRY/s599/2020%20sensex%20chart.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="289" data-original-width="599" height="258" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj__msfDvkhvMDoEpFSrR7D0J0Xf8NgLm1qCHJrVEdGltw39OdW4ObvY8PZ35v1VWlVICZ6imk1VnftjCSVvbT118lbAAXhaPND2rRYlNitlzC3FzZ2E4T0TMaruuuqlq-pQ1GMdmOEh9Z2E9huhFUnBvLQ3-mthQyxYYupjOh4mq5MJ6wsZcl8yEkskRY/w536-h258/2020%20sensex%20chart.jpg" width="536" /></a></span></div><p></p><p class="MsoNormal"><span style="line-height: 107%;"><span style="font-family: verdana;"><b>But
the portfolio of stocks discussed in 20-20 event on 18<sup>th</sup> Feb 2023 has
already gained by 51%.</b> And some of the ideas discussed are real DIAMONDS. Out
of the 20 stocks, 3 stocks did not fire up. All other have rewarded investors decently.</span></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsXAW7E99OuaD-8Bxl9-SvuhU3XY554Vu9tVP79kh0Qzf3FthTqMTRBud4CzfE_7meIS3-8hl-V-cPq9mCc6KFIbTvy2cNMDCgueh7jRQEYciVmL-UeiYF4ShkHuAG8_Edhet5f8UrUJoXQksNLaZaI8aVWXYzBrpqZqzq2Z9y0_JheMc2goUjEi6OCaU/s1023/20-20%20Feb%202023%20part1.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: verdana;"><img border="0" data-original-height="728" data-original-width="1023" height="361" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsXAW7E99OuaD-8Bxl9-SvuhU3XY554Vu9tVP79kh0Qzf3FthTqMTRBud4CzfE_7meIS3-8hl-V-cPq9mCc6KFIbTvy2cNMDCgueh7jRQEYciVmL-UeiYF4ShkHuAG8_Edhet5f8UrUJoXQksNLaZaI8aVWXYzBrpqZqzq2Z9y0_JheMc2goUjEi6OCaU/w506-h361/20-20%20Feb%202023%20part1.jpg" width="506" /></span></a></div><p></p><p class="MsoNormal"><span style="font-family: verdana;"><b>Moral for investors here is:</b><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -18pt;"></p><ul style="text-align: left;"><li><span style="font-family: verdana;">Investors <b>need to put in time and efforts</b> to understand
the companies they invest in.</span></li><li><span style="font-family: verdana;">In this internet age, many investors get lured
by Youtube for quick money. They are not ready to do the homework – <b>understand the company,
gain conviction and then invest.</b></span></li></ul><div style="margin-left: 1em; margin-right: 1em; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDyeGlgzfM8tziYvytAd1w66VcNEEuIXlW-dTwJFvE-unIQZjlIE7jjJVkX8oPbgNa4eAcllMAytz39CFYvVgDIUNRuSylyJ4gUCsDQ8N7GLvr3nyd5xTIw1VtjpKK01IcDACAxE5RBj6DlOsgDt7Y62LajRI-7-QiKzfbb4IjWeVksTA5vEednzI3F68/s1024/20-20%20Feb%202023%20part2.jpg" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: verdana;"><img border="0" data-original-height="729" data-original-width="1024" height="357" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiDyeGlgzfM8tziYvytAd1w66VcNEEuIXlW-dTwJFvE-unIQZjlIE7jjJVkX8oPbgNa4eAcllMAytz39CFYvVgDIUNRuSylyJ4gUCsDQ8N7GLvr3nyd5xTIw1VtjpKK01IcDACAxE5RBj6DlOsgDt7Y62LajRI-7-QiKzfbb4IjWeVksTA5vEednzI3F68/w499-h357/20-20%20Feb%202023%20part2.jpg" width="499" /></span></a></div><ul style="text-align: left;"><li><span style="line-height: 107%;"><span style="text-indent: -18pt;"><span style="font-family: verdana;">While looking at the list above – it is easy for investors to identify those companies that gave good returns. And many of them would prefer to avoid companies that gave negative returns. But in reality, we know the results only
in hindsight. No one – not even the presenter of these investment ideas would
have imagined the results. <b>In stock investing, the participation in a companies
growth is much more important. Profits are often by-products of this investment
journey.</b></span></span></span></li><li><span style="font-family: verdana;">There is little use in just getting to just know the
stock ideas. The real real benefit can flow through only if you invest in
those ideas in which you have gained conviction. But to gain conviction you need to spend time in attending such seminars. </span></li><li><span style="font-family: verdana;"><span>Now, some may think – IS IT WORTH THE
TIME?. Taking a day off and attending such events - that too a paid event - may sound like <b>WASTE
OF TIME AND MONEY</b>. But the results speak for themse</span>lves. I leave it to the
readers to decide on the worthiness part.</span></li></ul><span style="font-family: verdana;"><!--[if !supportLists]--></span><p></p>
<p class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -18pt;"><span style="font-family: verdana;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: verdana;"><o:p></o:p></span></p><p class="MsoNormal"><span style="line-height: 107%;"><span style="font-family: verdana;">To conclude – <b>You donot need an invitation to make money.</b> If you wish to make it, you need to be open minded and be willing to learn, invest and benefit. </span></span></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com1tag:blogger.com,1999:blog-768491477226633228.post-29943973997457628892023-08-20T18:46:00.006+05:302023-08-20T18:46:51.283+05:30Know your Company - TITAN<p style="text-align: justify;">TITAN - is a name synonymous with watches in India, while Tanishq is for Jewellery. As a company, while many of us may think watches could be their main business, TITAN draws 88% of its revenue from Jewellery segment </p><p style="text-align: justify;">TITAN has its registered office in Hosur, Tamilnadu.</p><p style="text-align: justify;">Titan company commenced operations in 1984 under the name Titan Watches Limited. In 1994, Titan diversified into jewellery with Tanishq and subsequently into eyewear with Titan Eyeplus. In 2005, it launched its youth fashion accessories brand Fastrack. The company is the largest branded jewellery maker in India, with more than 80% of its total revenues coming from the jewellery segment. As of 2022, Titan has a 6% market share in India's jewellery market. As of 2019, it is also the fifth-largest watch manufacturer in the world.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrdgh6UUMdOoPxBntx_b6IN_mqaiRGLlXpwhT8WdoyPliEpSt3bvN8v3DQgjgwjSPnnHtUtghCEeSZ_yvx7JPeSGxGIicRHBvGRWsCm_pdBIQmLmLtW8O_DVb_F3-T_kDgknMNKJdSkvRKzvcPIkR2joR5JCKc-lmTAkacfI7HfNMjETu_M4w94AXL0Io/s568/titan.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="568" data-original-width="452" height="400" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhrdgh6UUMdOoPxBntx_b6IN_mqaiRGLlXpwhT8WdoyPliEpSt3bvN8v3DQgjgwjSPnnHtUtghCEeSZ_yvx7JPeSGxGIicRHBvGRWsCm_pdBIQmLmLtW8O_DVb_F3-T_kDgknMNKJdSkvRKzvcPIkR2joR5JCKc-lmTAkacfI7HfNMjETu_M4w94AXL0Io/w319-h400/titan.jpg" width="319" /></a></div><div class="separator" style="clear: both; text-align: justify;"><br /></div><div class="separator" style="clear: both; text-align: justify;"><div class="separator" style="clear: both;"><b>History</b></div><div class="separator" style="clear: both;">1984–1990</div><div class="separator" style="clear: both;">Titan Company Limited was inaugurated on 26 July 1984 under the name Titan Watches Limited in Chennai. A plant was set up to manufacture quartz analog electronic watches in the State Industries Promotion Corporation of Tamil Nadu, Ltd. Industrial area at Hosur. In November 1986, Titan Company and Casio signed a MoU proposing to manufacture 2 million digital and analog-digital watches. In 1989, a satellite case plant was set up in Dehradun, Uttarakhand at present with a manufacturing capacity of 500,000 watch cases annually.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">1991–2000</div><div class="separator" style="clear: both;">In September 1993, the company changed its name to Titan Industries Ltd. as it ventured into other range of products other than watches.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In 1994, Titan launched its jewellery brand Tanishq.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In 1998, the company launched its watch & accessories brand, Fastrack, targeted at a younger audience in a bid to compete with Timex.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">2001–2010</div><div class="separator" style="clear: both;">In 2001, Titan launched kids’ watches brand, Dash. The brand saw poor performance and was discontinued in 2003. In 2004, the company entered into an agreement with Moet Hennessy Louis Vuitton Group, to service the latter's range of watches in India through its customer care centres. In 2005, Fastrack was positioned as an independent accessory brand targeting the urban youth. With the objective to become a fashion brand, Fastrack launched sunglasses in the same year and launched bags, belts and wallets in 2009.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In 2016, Titan opened prescription lens manufacturing facilities in Noida, Kolkata, and Mumbai to improve its order processing time. </div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Taneira is an ethnic wear brand from Titan that retails hand-woven sarees from different weaving clusters of India. The brand was launched in 2016. The first retail store was opened in Bengaluru in 2017 with more stores followed in New Delhi and Hyderabad.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In 2016, Titan entered the wearable devices market by introducing its smartwatch, Juxt, made through a collaboration with Hewlett Packard. In 2017, the company launched a fitness tracker, named Gesture Band under its youth accessories brand, Fastrack. In the same year, it invested $3 million in a Singapore based wearable tech company, CoveIoT. In 2018, the company added new fitness tracker bands. The company had a 7.4% market share in the wearable devices market as of 2018.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In November 2020, Titan opened its first overseas Tanishq store in Dubai as well as an exclusive website for Dubai showcasing its collections.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;"><b>Products</b></div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Watches</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">A Titan Octane series watch.</div><div class="separator" style="clear: both;">The watches division comprises brands Fastrack, Sonata, Raga, Nebula, Octane and Xylys. In 2011, the company secured licence for marketing and distribution of Tommy Hilfiger and Hugo Boss watches. Favre Leuba was incorporated in 2012. In 2018, the division accounted for ₹2,126 crore in revenue which was 10% of the total of the company.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Eyewear</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In 2007, Titan Industries forayed into the fashion accessories industry with the launch of sunglasses. It introduced Titan Eye Plus that makes frames, contact lenses, prescription eyewear, and sunglasses. The division accounted for ₹415 crore in FY 2016-17 maintaining a stable growth of 8%.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Jewellery</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Xerxes Desai started the brand Tanishq in 1995. Zoya was launched in the luxury segment, while Mia, a sub-brand was under Tanishq for work-wear jewellery. Titan's total revenue grew 20.44% in 2017-18 to ₹15,656 crore, of which jewellery sales fetched ₹13,036 crore. In 2016, Titan invested in CaratLane. As of 2022, Titan has a 6% market share in India's jewellery market.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Perfume</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In 2013, Titan launched six variants of perfume in the Indian perfume market under the brand name ‘Skinn’. They collaborated with world-renowned perfumers including Alberto Morillas and Olivier Pescheux.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;"><b>Subsidiaries and affiliate companies</b></div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Titan Engineering & Automation Limited is a wholly owned subsidiary of Titan. It was formerly known as Titan-Precision Engineering Division. The company now deals in machine building, automation and component manufacturing.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Swiss watchmaker, Favre Leuba, was acquired in 2011 and incorporated as a subsidiary of Titan in 2012. The company was acquired for €2 million. Its headquarters in Solothurn, Switzerland.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In 2023 Titan Sold Favre Leuba To Ethos Watches.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Titan acquired a 62% stake in CaratLane 2016 for $50 million.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In Aug 2023 ,Titan has acquired another 27.18% stake in CaratLane Trading from the jewellery brand’s founder and his family for Rs 4,621 crore in cash, following which its stake in the company will increase to 98.28%.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-WNxJRgHlq05Q00eqzL4a3rBpqed9VDUz8KmDera6b1BDH2annoS8j04poSvHMwIzw0hkGjt17ZXVOPxY8NyvDP4Xc4XDF2AMDGOswSIAF7G5wA1X952i3e6dzHt4PD9as-yV8DyakHYDRbG5OPGwh_wnvZKa7g--g3HHZNtMw2Ron-3ImZsvk7MLPdA/s1055/Caratlane.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="534" data-original-width="1055" height="203" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-WNxJRgHlq05Q00eqzL4a3rBpqed9VDUz8KmDera6b1BDH2annoS8j04poSvHMwIzw0hkGjt17ZXVOPxY8NyvDP4Xc4XDF2AMDGOswSIAF7G5wA1X952i3e6dzHt4PD9as-yV8DyakHYDRbG5OPGwh_wnvZKa7g--g3HHZNtMw2Ron-3ImZsvk7MLPdA/w400-h203/Caratlane.jpg" width="400" /></a></div><br /><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">Titan Watch Company Limited, Hong Kong, is currently a 100% subsidiary of Favre Leuba AG, Switzerland.</div><div class="separator" style="clear: both;"><br /></div><div class="separator" style="clear: both;">In 2015, Titan entered a joint venture to sell products of Swiss luxury brand Montblanc through its retail outlets. Titan's equity share in Montblanc India Retail Private Limited is 49% and Montblanc Services B.V. holds 51%.</div></div><div style="text-align: justify;"><br /></div><p style="text-align: justify;"><b>Naming the baby - Tanishq</b></p><p style="text-align: justify;">Tanishq, part of the Tata group, is today the market leader in branded jewellery in India. Tanishq is such a beautiful brand name. Have you ever wondered, how was this name born? </p><p style="text-align: justify;">Here is the story, narrated to me many years ago by the late Xerxes Desai, founder of Titan Company and also the creator of Tanishq.</p><p style="text-align: justify;">"During the early days of jewellery export, we had used the brand name Celeste in the European market. But we soon realised that Celeste had already been trademarked by another company in India.</p><p style="text-align: justify;">So, we thought of the word Tanishq. I was clear that <b>the word should possess a feminine and Indian feel to it</b>. It would also be useful for the names of our two promoter Companies to be reflected in the name. So, <b>"Ta" stands both for Tata and Tamil Nadu, the two promoters of Titan</b>. <b>"Nishq" means a piece of jewellery.</b></p><p style="text-align: justify;">The name sounded even better when Fali Vakeel of our advertising agency Lintas pointed out to me that Tanishq, when sliced differently, is a combination of <b>"Tan" (body) and "Ishq" (Love)</b>. I thought to myself, oh my, these are words which go so well with jewellery.</p><p style="text-align: justify;">But what is really interesting is how the name Tanishq began echoing in my mind at the very beginning. I am fond of dogs, and I owned a Harlequin Great Dane at that time, called Monishqa. Also, the young daughter of a close friend, whose brains we had picked in the early days of Titan, was name Monisha. So, I used these names often, and I think they triggered Tanishq, which sounds quite similar! When I tossed it around in my mind after that, this word sounded very poetic and beautiful." </p><p style="text-align: justify;">So, for Xerxes Desai, Tanishq it was. A Tata brand that has gone on to transform the jewellery market in India, over the past three decades. </p><div style="text-align: justify;"><br /></div>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-3404616232862440732023-07-02T17:29:00.004+05:302023-07-02T17:29:23.221+05:30Build Life Worth - not Net Worth : Deepak Parekh - Chairman - HDFC Ltd<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9Y5H4LtbsksQMLRJVnfpODZZKED_ITHwn_gPJke9RrFwt783cHgvhapnJPjRmY2uOEl5BW0vdbdi0i5aSYL4WB0Nei9S-lCcYd5KQA-O4ZsI1S7fFITotrRJMZRhlt7xsb7tCe1dDbpnHqKQF_z746qzHdmiXeSnuiztTr6JqaMbsDhMbPHoip1Hfer4/s1024/HDFC%20Deepak%20Parekh.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1024" data-original-width="563" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9Y5H4LtbsksQMLRJVnfpODZZKED_ITHwn_gPJke9RrFwt783cHgvhapnJPjRmY2uOEl5BW0vdbdi0i5aSYL4WB0Nei9S-lCcYd5KQA-O4ZsI1S7fFITotrRJMZRhlt7xsb7tCe1dDbpnHqKQF_z746qzHdmiXeSnuiztTr6JqaMbsDhMbPHoip1Hfer4/w352-h640/HDFC%20Deepak%20Parekh.jpg" width="352" /></a></div><br /> <p></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-50210944669972259392023-07-02T17:01:00.001+05:302023-07-02T17:01:14.504+05:30HDFC Bank - HDFC Ltd Merger : Impact on industry and Investors<p><span style="font-family: arial;">Merger and Acquisition are part and parcel of corporate world. Sometimes this can result in a HUGE company. Recent merger of HDFC Ltd with HDFC Bank is a proof for the same.</span></p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguiaM2D9P82Vopbemz8ZQmdpNdww3G2hS7P5UGUeu01RGjcf1ZbiVTgEnRSDIFXuUImSyG1GlQJmOld3NNkawnglbQTLCUr1i_1uqZkYavoLUYE148YKI4DAYRko3bzrCfwuQubAxEGPohbZSQTZYmE2jgwUYcCJqllp_cjaBq_XMR7zFI2f05l3-48iw/s695/hdfc%20logo.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="392" data-original-width="695" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguiaM2D9P82Vopbemz8ZQmdpNdww3G2hS7P5UGUeu01RGjcf1ZbiVTgEnRSDIFXuUImSyG1GlQJmOld3NNkawnglbQTLCUr1i_1uqZkYavoLUYE148YKI4DAYRko3bzrCfwuQubAxEGPohbZSQTZYmE2jgwUYcCJqllp_cjaBq_XMR7zFI2f05l3-48iw/s320/hdfc%20logo.jpg" width="320" /></a></div><p></p><p></p><ul style="text-align: left;"><li><span style="font-family: arial;"><span style="text-indent: -18pt;">On 1st July 2023, HDFC Ltd (Housing Loan Company – Parent Company)
has been Merged with HDFC Bank</span><span style="text-indent: -18pt;">. And </span><span style="text-indent: -18pt;">HDFC Ltd Shares would be DELISTED on 13</span><sup style="text-indent: -18pt;">th</sup><span style="text-indent: -18pt;">
July 2023</span></span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->As on 30<sup>th</sup> June 2023</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">o<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->HDFC Bank shares (Face value: Rs.1) was trading
at Rs.1701</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">o<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->HDFC Ltd shares (Face value:Rs.2) was trading at
Rs.2821</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->Every 25 shares of HDFC Ltd would be swapped (replaced)
with 42 Shares of HDFC Bank on 17<sup>th</sup> July 2023</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->The combined entities market value would be US$
172 Billion.</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->It would be the 4<sup>th</sup> largest bank in the
world – behind JP Morgan Chase & Co, Industrial & commercial bank of
China and Bank of America.</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->In one GIANT LEAP, HDFC Bank overtakes the
market cap of SBI (US$ 62 Billion) and ICICI (US$ 79 Billion).</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->Post merger, HDFC Bank will have 120 Million
Customers across 8300 branches and more than 1,77,000 employees.</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->70% of HDFC Ltd customers do not have a HDFC
Bank account.</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->And 2% of HDFC Bank customers have a housing
loan with HDFC Ltd.</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->Thus, the merger gives HUGE Scope for growth –
projected at 18% to 20%. This can result in the market cap DOUBLE in four years
flat. </span></li></ul><p></p><p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="margin-left: 72.0pt; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpMiddle" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoListParagraphCxSpLast" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;"><span style="font-family: arial;"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family: arial;">Impact on Investors:<o:p></o:p></span></p>
<p class="MsoListParagraphCxSpFirst" style="mso-list: l1 level1 lfo2; text-indent: -18.0pt;"></p><ul style="text-align: left;"><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;"> (</span></span>Retail) Investors can celebrate. It is a WIN-WIN
situation for both company share holders.</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->International Investors (FII’s and FPI’s) now
have another company in World’s TOP 100, beyond Reliance and TCS.</span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->FPI’s may invest close to US$ 3 billion in the
merged entity. </span></li><li><span style="font-family: arial;"><span style="mso-list: Ignore;">·<span style="font-feature-settings: normal; font-kerning: auto; font-optical-sizing: auto; font-stretch: normal; font-style: normal; font-variant: normal; font-variation-settings: normal; font-weight: normal; line-height: normal;">
</span></span><!--[endif]-->However, domestic mutual funds have a problem. As
per SEBI norms, MF’s cannot hold more than 10% in a company. And many mutual
funds have been holding 6% to 7% in both. This may FORCE them to sell some shares
(Rs.40 Billion or US$ 0.49 Billion) to bring down their holdings to 10%. </span></li></ul><!--[if !supportLists]--><p></p>
<p class="MsoNormal"><span style="font-family: arial;">After the initial price adjustments, HDFC Bank share holders
can hope for the best – given the synergies between the two companies. <o:p></o:p></span></p><br /><p></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-34759441081490077862023-05-22T10:24:00.008+05:302023-05-22T10:31:12.887+05:30Dream Run of Hatsun Agro Products - <p style="text-align: justify;"> Many of us are familiar with the brands we consume. </p><p style="text-align: justify;">For instance, Arun Ice Cream, Ibaco, Arokya milk are household names in India. And Hatsun Agro products is the company behind all these products. </p><p style="text-align: justify;">Many investors may be owning HAP shares for one reason or another. But if you know the full story - that too narrated by its founder, then it can give you confidence and happiness in owning the stock.</p><p style="text-align: justify;">Attached below is an interview by HAP's Chairman - Mr.R G Chandramohan. Take time out and read it. He is bound to inspire you.</p><p style="text-align: justify;">As an investor, when you get clarity on the stocks you own / wish to own - it can help you in making conscious investment decisions.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRYdMtyl6oslAX5xfTNLIid4gZ9XMMgVvNgNnrK3qZa6-E6Qi4EdK43DOoOx1s3pr8pq_mFPvlXuPfSbK_EOIGFmsZW9bEt9hq6yaMKmIzGm5wLsxtLMKr0VtrnOVNlPEPt3zkVpbrc7h81sTMjk5p4mZ9TQuRJgR-G3e2mkQeMNWgBjjwjF5i9r5p/s3969/Hatsun%20Agro.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="3969" data-original-width="1066" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgRYdMtyl6oslAX5xfTNLIid4gZ9XMMgVvNgNnrK3qZa6-E6Qi4EdK43DOoOx1s3pr8pq_mFPvlXuPfSbK_EOIGFmsZW9bEt9hq6yaMKmIzGm5wLsxtLMKr0VtrnOVNlPEPt3zkVpbrc7h81sTMjk5p4mZ9TQuRJgR-G3e2mkQeMNWgBjjwjF5i9r5p/w172-h640/Hatsun%20Agro.jpg" width="172" /></a></div><div class="separator" style="clear: both; text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEikl2Ok9KYUbJGF6JlHjg0tzyWm1YNaJk2gXb-_KkdWaqcZT5Up5yJIrxg8zTzkA8u-qckqdsCODxaVF7FEZilRueGDZMT3_-tqYLIZ0abljj6w_vkbsV8nddRTEABPVEAcYh6TLu9tvEQIDNU7PRVQL6ezHWq9k54XFROlcLPzV0F98-qE6fX5NxAS" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="626" data-original-width="1074" height="374" src="https://blogger.googleusercontent.com/img/a/AVvXsEikl2Ok9KYUbJGF6JlHjg0tzyWm1YNaJk2gXb-_KkdWaqcZT5Up5yJIrxg8zTzkA8u-qckqdsCODxaVF7FEZilRueGDZMT3_-tqYLIZ0abljj6w_vkbsV8nddRTEABPVEAcYh6TLu9tvEQIDNU7PRVQL6ezHWq9k54XFROlcLPzV0F98-qE6fX5NxAS=w640-h374" width="640" /></a></div><br /><br /></div><br /><p><br /></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-16833694722025993492023-02-06T12:44:00.013+05:302023-02-06T12:49:35.911+05:30Adani Saga and its Impact on Investors:<p><span style="font-family: arial; font-size: medium;">Last 10 days has been roller coaster ride for stock markets. between Adani saga and Union Budget, markets have been swaying widely.</span></p><p><span style="font-family: arial; font-size: medium;">Almost every investor has been concerned about the Adani episode and its impact on their investments. </span></p><p><span style="font-family: arial; font-size: medium;">To address this, let us classify the concerned investors to 3 categories:</span></p><p></p><ul style="text-align: left;"><li><span style="font-family: arial; font-size: medium;">Mutual Fund Investors</span></li><li><span style="font-family: arial; font-size: medium;">Stock market Investors who didnot invest in Adani Stocks</span></li><li><span style="font-family: arial; font-size: medium;">Stock market Investors who invested in Adani Stocks</span></li></ul><p></p><p><b><span style="font-family: arial; font-size: medium;">If you are a mutual fund investor, the impact is NEGLIGIBLE. </span></b></p><p><span style="font-family: arial; font-size: medium;">How could that be? </span></p><p><span style="font-family: arial; font-size: medium;">It is because of 2 reasons : </span></p><p></p><ul style="text-align: left;"><li><span style="font-family: arial; font-size: medium;">Diversification - where in your money is spread across 50 to 100 stocks - cusioning the impact of any single stock. And it fund managers responsibility to chuck out bad ones and reinvest in good ones </span></li><li><span style="font-family: arial; font-size: medium;">Benefits of active fund management - where in their investment process avoided investing in Adani stocks. </span></li></ul><p></p><p><span style="font-family: arial; font-size: medium;">The bottom line is - Mutual Fund Investors need not worry.</span></p><p><span style="font-family: arial; font-size: medium;"><b>If you are a direct stock market investor, but did not invest in Adani stocks</b> - <b>then why worry.</b> Though your holdings may have knee jerk reaction due to market tremors, they are bound to regain stability.</span></p><p><b><span style="font-family: arial; font-size: medium;">If you had invested in Adani stocks, then you have a reason to rethink what to do now. </span></b></p><p><span style="font-family: arial; font-size: medium;">(1) Book loss and exit </span></p><p><span style="font-family: arial; font-size: medium;">(2) Hold on with hope of price recovery </span></p><p><span style="font-family: arial; font-size: medium;">(3) Buy more at lower price. </span></p><p><span style="font-family: arial; font-size: medium;">Since it is an ongoing crisis linked to the company, it is better to avoid further investment in their stocks. At best you can hold for some more time. You can exit when the share price bounces a bit - may be 10% to 20% from current levels and reinvest elsewhere. </span></p><p><span style="font-family: arial; font-size: medium;"><b>Dr. Ashwat Damodharan of Stern School of Business in New York has delibrated on this subject in his blog: </b><span><a href="https://aswathdamodaran.blogspot.com/2023/02/control-and-complexity-deconstructing.html?m=1 " rel="nofollow" target="_blank"><b>https://aswathdamodaran.blogspot.com/2023/02/control-and-complexity-deconstructing.html?m=1 </b></a>.</span><span> If you are keen to know more about the Adani Saga, do take time to read it out. He gives a clear view.</span></span></p><p><span style="font-family: arial; font-size: medium;">For those who do not have time to read, here is his video. Do watch it to understand: <a href="https://youtu.be/oVGJeBe_xGA"></a></span></p><div class="separator" style="clear: both; text-align: center;"><a href="https://youtu.be/oVGJeBe_xGA"><span style="font-family: arial; font-size: medium;"><iframe allowfullscreen="" class="BLOG_video_class" height="266" src="https://www.youtube.com/embed/oVGJeBe_xGA" width="320" youtube-src-id="oVGJeBe_xGA"></iframe></span></a></div><a href="https://youtu.be/oVGJeBe_xGA"><span style="font-family: arial; font-size: medium;"><br /><br /></span></a><p></p><p><br /></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-64891097658032884522023-01-02T10:44:00.001+05:302023-01-02T10:44:11.839+05:30Is it Time for Mid & Small Caps to Catch up?<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmhTwheB4_7jT328AiWISJHWVa29X8j2FMR14nVEv1yDZplYTnHhmgnHdLZwWrswc4dr3rhgPs3oc00Kv-6fYS0pkzNvM9UUQs72OkQpCcTy0Q97K2HcNgfcEeH0kNxMIlMo8mCMhdqDM4DBbwf9xh92rzHCoNwgjVL0RXYjtxueOgwzwaecMyojDV/s1140/Mid%20and%20small%20caps.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1140" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmhTwheB4_7jT328AiWISJHWVa29X8j2FMR14nVEv1yDZplYTnHhmgnHdLZwWrswc4dr3rhgPs3oc00Kv-6fYS0pkzNvM9UUQs72OkQpCcTy0Q97K2HcNgfcEeH0kNxMIlMo8mCMhdqDM4DBbwf9xh92rzHCoNwgjVL0RXYjtxueOgwzwaecMyojDV/w606-h640/Mid%20and%20small%20caps.jpg" width="606" /></a></div><br /><p></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-62258175350465050472022-12-31T17:13:00.005+05:302022-12-31T17:13:52.089+05:30How much you need to gain to recover your loss:<p> We had published an article in this blog way back in 17th Jan 2018 - on the topic When to Cut loss. You may read the article in following link : </p><p>https://easyinv.blogspot.com/2018/01/when-to-cut-loss.html</p><p>Interestingly a article on similar topic came up recently with a good illustration. Hence thought of publishing it here for better clarity:</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGxPMOLBNqrbumb4Kguh6J7gAzC6_j5X5wT2n0TFMnl0ECNCBHQNAIb0vqRtl8cpBUSvWAqK0EdXfr_x7gLqBU1-IHWStPydkBkI4czlZhUgq_pYo7e0P93Z16DZdTcjirvEpTzFl99Zr9ki1QB-D4zxWFySgLYQCfVQT5fJdSxhfnfX87NeawwVlm/s1080/Gains%20needed.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="860" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGxPMOLBNqrbumb4Kguh6J7gAzC6_j5X5wT2n0TFMnl0ECNCBHQNAIb0vqRtl8cpBUSvWAqK0EdXfr_x7gLqBU1-IHWStPydkBkI4czlZhUgq_pYo7e0P93Z16DZdTcjirvEpTzFl99Zr9ki1QB-D4zxWFySgLYQCfVQT5fJdSxhfnfX87NeawwVlm/w510-h640/Gains%20needed.jpg" width="510" /></a></div><br /><p><br /></p><p><br /></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-24967702878337936642022-12-27T12:39:00.001+05:302022-12-27T12:39:12.390+05:30India : From Fragile Five to Most favored Investment Destination<p>In 2013, Morgan Stanley cointed the term - FRAGILE FIVE. India was labeled as one among theM along with Brazil, Indonesia, South Africa and Turkey. It was due to weak currency and other slacking economic conditions. Since then India made a turn around to become one of the most favored investment destination since 2017. </p><p>Article below sums up the interesting economic journey of India in these years. And all those who invested / stayed invested / topped up their investments can be contented that they have grown with the economic growth.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmctNjaAyyDcw5KOMycgGTdHoXR325JYP5dYiResQo6Dj6krDbJaCJ-ITYiBdMSwZP-HyoAjlxloEf4sVi84282KpLcO7eyxrZEmJo9WTjxUGnldJS9jU536rJ5bzXE6HFjVoPEEheLFnPRmcMZ3EGOLeH_oKyvr19xOwMgFZzBYH6vnfXvAo6GPgJ/s908/fragile%20five.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="908" data-original-width="677" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhmctNjaAyyDcw5KOMycgGTdHoXR325JYP5dYiResQo6Dj6krDbJaCJ-ITYiBdMSwZP-HyoAjlxloEf4sVi84282KpLcO7eyxrZEmJo9WTjxUGnldJS9jU536rJ5bzXE6HFjVoPEEheLFnPRmcMZ3EGOLeH_oKyvr19xOwMgFZzBYH6vnfXvAo6GPgJ/s16000/fragile%20five.jpg" /></a></div><br /><p><br /></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-89860699187485622992022-12-27T12:24:00.000+05:302022-12-27T12:24:27.289+05:30Largest Asset Management Firms Globally & Locally<p> <br /></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiv1W4t6cqjoh6UwY9vVezGU4IUfmyVTtsMqjgELNtPzVFnwgO7ys0Tr3uwKsxvjzEpRalYfY4Py9kD79RbKLsljPPoynt01pxuOXCjgIpWhl1T0ihfhFhULsURY3LCLWqav6whWwSYOoPdE5sVojj2FyvVzfAYZc_8zvCGOMr289j6axtkkbLSzFMG/s1217/Largest%20mf's.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1217" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiv1W4t6cqjoh6UwY9vVezGU4IUfmyVTtsMqjgELNtPzVFnwgO7ys0Tr3uwKsxvjzEpRalYfY4Py9kD79RbKLsljPPoynt01pxuOXCjgIpWhl1T0ihfhFhULsURY3LCLWqav6whWwSYOoPdE5sVojj2FyvVzfAYZc_8zvCGOMr289j6axtkkbLSzFMG/w568-h640/Largest%20mf's.jpg" width="568" /></a><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkcNzDH5vvhV5LfJ7x5j2Eo3UlqIhRpSUrCjqdUg-QRELagRngDOYCY37VB5kEkL260hKoGVcKU_ij8xRSisraHDEZyR1flrLF4D1dVWyoNaOa68g5qZOVSZn_obuC7OGwcRjGi2QFMJTq6rG2EyDougfFhq_nJnqnCe75Tu5O-TKX_S_pKzyT_kgD/s476/largest%20mfs%20locally.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="476" data-original-width="359" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkcNzDH5vvhV5LfJ7x5j2Eo3UlqIhRpSUrCjqdUg-QRELagRngDOYCY37VB5kEkL260hKoGVcKU_ij8xRSisraHDEZyR1flrLF4D1dVWyoNaOa68g5qZOVSZn_obuC7OGwcRjGi2QFMJTq6rG2EyDougfFhq_nJnqnCe75Tu5O-TKX_S_pKzyT_kgD/w482-h640/largest%20mfs%20locally.jpg" width="482" /></a></div></div><br /><p></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-74626268551876383492022-12-27T12:03:00.001+05:302022-12-27T12:03:02.922+05:30Tamilnadu Investor Association - TIA: A Boon to Investors.<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeshgSqtNpXoRR-yqkAubT-BTELE237OILzTqrenVHSMCPLP6h3OlnCHJXRFqR8PjAckvMRozG0Qsq3I2jKHw6m2BaLCu5GUPQ0wK8bmUnLkP7poAzB6QPBMhW4kf79jlkiVp8PPXW_UU5BWV4ate-SO3rNjVc9eiONGSsVDqi83U-7a6rh_653itU/s1280/tia.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1280" data-original-width="822" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgeshgSqtNpXoRR-yqkAubT-BTELE237OILzTqrenVHSMCPLP6h3OlnCHJXRFqR8PjAckvMRozG0Qsq3I2jKHw6m2BaLCu5GUPQ0wK8bmUnLkP7poAzB6QPBMhW4kf79jlkiVp8PPXW_UU5BWV4ate-SO3rNjVc9eiONGSsVDqi83U-7a6rh_653itU/s16000/tia.jpg" /></a></div><br /><p></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-57525131310580799892022-12-24T12:19:00.004+05:302022-12-24T12:19:49.644+05:30Buying the News ?<p></p><div class="separator" style="clear: both; text-align: justify;">Theoretically, investing based on fundamentals of a stock is the best option. But many a times, we jump the line and invest based on news. And in the age of social media - such news are everywhere - be it whatsapp / telegram / twitter / instagram / facebook. Apart from this, there are paid services to give you the news ahead of the crowd and pocket the returns.</div><div class="separator" style="clear: both; text-align: justify;"><br /></div><div class="separator" style="clear: both; text-align: justify;">In reality, if you the news is right - you make killing returns. But if the news is not true, then our investment can take a beating.</div><div class="separator" style="clear: both; text-align: justify;"><br /></div><div class="separator" style="clear: both; text-align: justify;">For instance, leading newspaper Economic Times published an article on 19th December 2022 stating that TATA MF may buy majority stake in UTI MF. <span style="text-align: center;">UTI AMC being a listed company, if it is acquired by TATA MF, it could be a back door entry for TATA MF to get listed.</span><span style="text-align: center;"> </span></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0NpMfS9Xu_eotoK55bBGBtRjarQzaa2hZ4KYEGRJv5ybBDDu5PKqMKoAnVxXRwaIK_5u7WFdo-Md3dI8L3xW28RiuatHc_vsPIuzUR4xCP9wK49HhwtOmvm-eavbwTwvMW7rpc8MVTEf5XYxLyeNiPWw1PX58z8mjoSFiDRdmnfCtVdtkj6QrBYg-/s1074/TATA%20UTI.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1074" data-original-width="769" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh0NpMfS9Xu_eotoK55bBGBtRjarQzaa2hZ4KYEGRJv5ybBDDu5PKqMKoAnVxXRwaIK_5u7WFdo-Md3dI8L3xW28RiuatHc_vsPIuzUR4xCP9wK49HhwtOmvm-eavbwTwvMW7rpc8MVTEf5XYxLyeNiPWw1PX58z8mjoSFiDRdmnfCtVdtkj6QrBYg-/w458-h640/TATA%20UTI.jpg" width="458" /></a></div><div class="separator" style="clear: both; text-align: justify;">Imagine what happened next. The stock price of UTI AMC sky rocketed from Rs.760 on Rs.900. A typical stock investor would love to buy this stock JUST IN TIME. Buy at Rs.760 and sell at Rs.900 - all in a day's time - pocket Rs.140 profit which is equivalent to 18% returns. And many stock investors expect their brokers to alert them on such opportunity so that they can grab it with both hands. </div><div class="separator" style="clear: both; text-align: justify;"><br /></div><div class="separator" style="clear: both; text-align: justify;">But in reality, by the time they get the news and realize that it is indeed an opportunity, the stock price would has already run up - may to 800+. After bit of dilemma, they end up buying may be around 850 or so. </div><br /><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpJ4wkkZOinJYcN4n4HTbUOIa90S4kVnQ9HJZRZv9Cgrdp3UKrUaD6D9iEGmCH7HQ0BWx5KNCtsKZ8bgEnlzq6DdkT3g1Ht87Z2y191RRbfz7GyJHQKSGemnbhBefSAluqICYsjK3kzAhvPbvKeGWjEXLgWtWrSi_G6JWcn4xkxVD-Z7z121NKKCth/s1280/uti%20chart.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="624" data-original-width="1280" height="312" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpJ4wkkZOinJYcN4n4HTbUOIa90S4kVnQ9HJZRZv9Cgrdp3UKrUaD6D9iEGmCH7HQ0BWx5KNCtsKZ8bgEnlzq6DdkT3g1Ht87Z2y191RRbfz7GyJHQKSGemnbhBefSAluqICYsjK3kzAhvPbvKeGWjEXLgWtWrSi_G6JWcn4xkxVD-Z7z121NKKCth/w640-h312/uti%20chart.jpg" width="640" /></a></div><div class="separator" style="clear: both; text-align: justify;">Now comes the twist - On 20th December 2022 - TATA MF comes on board and denies the news. And the stock price promply tanks to trade currently at Rs.829 on 23rd Dec 2022.</div><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9grI5S306o2mHOfxy3sDaTBvOFihurnAGt0-giTCiOff413eujkzcaYwlG6c8yOMquZFYFf_bVB9ZfSXrQvyV35Aiz2se8Nr2PZeCcZtioad_uvWdNdXQuOFdKctHeg_hxlXkGsgbuF8yj2zHTjo9gD0-t9CgTq6tIHx1k4ViHH1E1ijkjgXEIRjd/s4872/tata%20mf.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2868" data-original-width="4872" height="376" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi9grI5S306o2mHOfxy3sDaTBvOFihurnAGt0-giTCiOff413eujkzcaYwlG6c8yOMquZFYFf_bVB9ZfSXrQvyV35Aiz2se8Nr2PZeCcZtioad_uvWdNdXQuOFdKctHeg_hxlXkGsgbuF8yj2zHTjo9gD0-t9CgTq6tIHx1k4ViHH1E1ijkjgXEIRjd/w640-h376/tata%20mf.jpg" width="640" /></a></div><br />Now the learning is:<div><ul style="text-align: left;"><li>Though Financial news papers and financial websites are the main source of news for investors, investing based on news is not the right thing to do.</li><li>Many of us dive in and invest once we hear the news.</li><li>But often we fail to keep track and miss out the news on following day(s). In other words, we lose focus quickly. Sometimes, we are left holding with lemons. </li><li>It is better to analyze companies and invest in them if they are fundamentally strong. It is ideal to stay invested in the company for long time to benefit out of its growth.</li><li>At the end, it is hard earned money for every investor. Let us invest it responsibly.</li></ul><p></p></div>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-12177336392708977802022-12-24T07:06:00.001+05:302022-12-24T07:06:03.873+05:30Samuel Benner and his Predictions on Market cyclicity<p>Recently the below mentioned chart has been circulating in Whatsapp forwards, with following message: : Samuel Benner was a farmer from the 1800s who wanted to understand how market cycles worked.. There is no exact science for market predictions, however, the world is cyclical, and it pays to pay attention. Benner Cycle Prediction of 100+ Years of Market Movement for perusal".</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXnpg5uljThIhyUPJC-qKg2STN8tUTGcmFHkwkRgerLZOnZdR3VacDuG6uOZoL206EIToumEa6kYUU5CKTeoyU4_qzl8beO-jMrVjpR_HC7R7_axyEZi5goqlMXnaORq6fnBdg3ekgW7dAGWTY539TTu_jY5nY2qvq3khZgNR1s3Vf00IxDu5EZcB-/s1194/picture%201.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="834" data-original-width="1194" height="448" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgXnpg5uljThIhyUPJC-qKg2STN8tUTGcmFHkwkRgerLZOnZdR3VacDuG6uOZoL206EIToumEa6kYUU5CKTeoyU4_qzl8beO-jMrVjpR_HC7R7_axyEZi5goqlMXnaORq6fnBdg3ekgW7dAGWTY539TTu_jY5nY2qvq3khZgNR1s3Vf00IxDu5EZcB-/w640-h448/picture%201.jpg" width="640" /></a></div><br /><p>To check what Samuel Benner had said about market cycles and its relevance today, digged out a bit and got this information:</p><p>Samuel Benner was born at Bloom Furnace, Lawrence County, August 17 1832, by his parents who were natives of Alsace, Loraine, Germany, coming to Ohio in 1803.</p><p>He was a prosperous farmer, wiped out financially by the 1873 panic and a hog cholera epidemic. In retirement, he set about to establish the causes and timing of fluctuations in the economy. In 1875, he published a book on business and commodity price forecasts for the period 1876 to 1904. </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhoPHtq7UECUJGMOVViR7EGtjOdilhW6BZt7oOhQY49ZrFMNc1X0W6vkjLtC6jxXwUOwl3TbrcuDL-OoQMJyTBIJRsOVHHFzm42P5mw7ZGpat9M7tGnBLQ6vvvx5ZvYMZrSEhJj3UL2lp4dBX9d-F1IuWqfCeRlee_9IAJ7d6h-fg4NlXB6MikZNbqD/s395/benner1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="395" data-original-width="296" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhoPHtq7UECUJGMOVViR7EGtjOdilhW6BZt7oOhQY49ZrFMNc1X0W6vkjLtC6jxXwUOwl3TbrcuDL-OoQMJyTBIJRsOVHHFzm42P5mw7ZGpat9M7tGnBLQ6vvvx5ZvYMZrSEhJj3UL2lp4dBX9d-F1IuWqfCeRlee_9IAJ7d6h-fg4NlXB6MikZNbqD/w480-h640/benner1.jpg" width="480" /></a></div><p><br /></p><p>In his book, charts were produced giving;</p><p>* an 11 year cycle in corn and pig prices with peaks alternating every 5 and 6 years.</p><p>* cotton prices which moved in a cycle with peaks every 11 years.</p><p>* a 27 year cycle in pig iron prices with lows every 11, 9, 7 years and peaks in the order 8, 9, 10 years.</p><p>The link to the actual book is given below. </p><p><u>https://archive.org/details/cihm_00906/page/n128/mode/1up?ref=ol&view=theater</u></p><p>Any market is likely to be cyclical. There will be ups and downs. The art is to study this cycles and benefit. Benners book may give a hint on the same - if not exact predictions:</p><p><br /></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-67675948642107258922022-12-24T06:45:00.019+05:302022-12-24T11:38:19.050+05:30Evolution of Mutual Funds in India<p>Merger, Acquisition, Stake Sale, winding up - all have happened in abundance in the Indian Mutual Fund space. Though Mutual Funds were born with UTI US 64 in the year 1964 and the first private sector mutual fund was born in 1992 (thanks to Narasimha Rao Govt and Manmohan singh as FM), the growth has never been steady. It had lots of ups and downs. Below mentioned is list of change in hands of various mutual funds... and the list is ever evolving. For instance Bandhan Bank is about to take over IDFC Mutual Fund in Feb 2022 and TATA Mutual Fund is in contemplating to acquire UTI Mutual Fund. Both are not mentioned in this list.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKVJA9SiF4gRj43Sy6GRxIKD_1D-1uyHkNmuzReDn5UD5C4V1wmSfW5r_PE1MkXeWz7pOtfV73bwDtAhwTdArT9o_9xrjhJRqz0BBPpNhFcyAeFHFhRgAA_wfePiqZELdj1aSHCAT3oW5gLXD8H4GxkvK-1dJXEow3Waqyq_PCOMEePYe0MLTszMc1/s1280/MF%20Evolution.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1280" data-original-width="541" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjKVJA9SiF4gRj43Sy6GRxIKD_1D-1uyHkNmuzReDn5UD5C4V1wmSfW5r_PE1MkXeWz7pOtfV73bwDtAhwTdArT9o_9xrjhJRqz0BBPpNhFcyAeFHFhRgAA_wfePiqZELdj1aSHCAT3oW5gLXD8H4GxkvK-1dJXEow3Waqyq_PCOMEePYe0MLTszMc1/s16000/MF%20Evolution.jpg" /></a></div><br /><p>This list could help :</p><p></p><ul style="text-align: left;"><li>Those investors who could have invested long time back and lost track of it - only to wake up and find that they do not find the scheme any more. Probably their MF scheme got merged with someone else.</li><li>One may wonder / admire the journey of a mutual fund and its evolution.</li><li>Just like the old saying - "People may Come and Go... but Life goes on", So is with Mutual Funds. </li></ul><p></p><p><br /></p><div class="separator" style="clear: both; text-align: center;"><br /></div><br /><p><br /></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-37683700246947160782022-12-24T05:56:00.000+05:302022-12-24T05:56:08.410+05:30Pump and Dump - Classical Case: YES Bank<p>Yesteryears Yellow paper's role is today seems to be taken over by social media. When an influencer blows a bugle, there seems to be a reaction.</p><p>Just see the below mentioned chart. There has been massive volume on YES Bank share on 9th Dec 2022 and share price shot up from Rs.17.50. Again the was massive volume on 13th Dec 2022 - when a social media influencer gave a warning signal on upcoming unlocking of frozen shares - and the shares were trading then at 24. </p><p>Now (23rd Dec 2022) the share price is back to square one - Rs.17.50.</p><p>The high volume aggregators - most likely with news - exited just in time pocketing Rs.6.50 per share, equivalent to 37% returns in just 5 days. Pray that retail investors - with their hard earned money - do not get trapped.</p><p>I believe it is the role of regulator to cross check such hectic activity and keep the investing public informed. That would be real investor protection - not just conducting investor protection seminars. But they are busy making ASBA for secondary market trading or extending trading hours. </p><p>For those who think making money in stock market is easy - one loss can wipe of your yearly profits. And in today's term, you should keep your eyes and ears open to be in active stock investing. </p><p>So stay cautious. Stay contented. Stay Happy.</p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjP1tCyTwFVG1fq4kCSgoy5AcXPB7leSt2OFKjW6khY16PJ8UlSRexD4oi8cFy4DR5vZ_sFLUHQrqSmmk2BBkDgllE-gs9avnThNfqKTHH-FEtTq-imyzUE64w5gjj-IxxlE_JA3j1IHWCRN3AHpGSKnuyQenn5moS0jtMM8X6TifQhjTI5KgdarCOi/s1360/yes%20bank%20pump%20and%20dump.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1313" data-original-width="1360" height="618" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjP1tCyTwFVG1fq4kCSgoy5AcXPB7leSt2OFKjW6khY16PJ8UlSRexD4oi8cFy4DR5vZ_sFLUHQrqSmmk2BBkDgllE-gs9avnThNfqKTHH-FEtTq-imyzUE64w5gjj-IxxlE_JA3j1IHWCRN3AHpGSKnuyQenn5moS0jtMM8X6TifQhjTI5KgdarCOi/w640-h618/yes%20bank%20pump%20and%20dump.jpg" width="640" /></a></div><br /><p><br /></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-73648471847428998422022-12-24T05:36:00.003+05:302022-12-24T05:36:56.713+05:30Indian Companies by highest percentage earning revenue from China<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3-WmjQyr7xJcRrg7fQSjJspvOlvXSgqECZoHIcMWyjdHF0H6Kv8tcXNJ4OFHcb644OxkImtQX9KfDgCUgPoseMYu3Id4jPfgqMwhJZKxV41nRHEVAz6w3E-W5KV7haiqYVs7QqfZm71c9pcp4yzmrxhtY_1CKcd9g4Dw7pqcDIZXVv-eUeWMe04sF/s1080/CHINA%20REVENUE.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1080" data-original-width="1080" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi3-WmjQyr7xJcRrg7fQSjJspvOlvXSgqECZoHIcMWyjdHF0H6Kv8tcXNJ4OFHcb644OxkImtQX9KfDgCUgPoseMYu3Id4jPfgqMwhJZKxV41nRHEVAz6w3E-W5KV7haiqYVs7QqfZm71c9pcp4yzmrxhtY_1CKcd9g4Dw7pqcDIZXVv-eUeWMe04sF/w640-h640/CHINA%20REVENUE.jpg" width="640" /></a></div><br /><p></p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0tag:blogger.com,1999:blog-768491477226633228.post-42009539444894208762022-12-24T04:15:00.003+05:302022-12-24T04:15:17.142+05:30Sensex - Past, Present & Future<p>Below mentioned has been a Whatsapp forward. Found it interesting. Hence publishing. Disclaimer: Data not verified by PR or Easy Investments.</p><p>---------------------------------------------------------------------------------------------------</p><p> 1. BSE completed 43 years.</p><p>2. There were around 11,000 trading days in last 43 years.</p><p>3. Observations on regular basis and positive and negative returns occurrences.</p><p><br /></p><p>Frequency Positive Negative </p><p><br /></p><p>Daily 53% time 47% time</p><p>Weekly 56% time 44% time</p><p>Monthly 61% time 39% time </p><p>Quarterly 64% time 36% time </p><p>Yearly 72% time 28% time </p><p>3 years 89% time 11% time </p><p>5 years 96% time 4% time </p><p>10 years 100% time </p><p><br /></p><p>4. Bse Sensex delivered 15.5% CAGR returns over last 43 years. </p><p><br /></p><p>5. Decadal returns dispersion </p><p><br /></p><p>Period CAGR</p><p><br /></p><p>1980-1990 21.6%</p><p>1990-2000 14.3%</p><p>2000-2010 17.8%</p><p>2010-2020 8.8%.* </p><p>2020...to 21Dec,2022..........….24.8%</p><p>6. BSE Sensex returns 15.5%. Add 1.4% average dividend yield of 1.4% of last 43 years. At 16.9% compounding the value of BSE is actually around 80,000 level.</p><p><br /></p><p>7. Longest period without returns was from 1994 till 2003. 9 years in total.</p><p><br /></p><p>8. Since 2002 in last 18 years NO single 7 years rolling returns were without returns. This means since 2002 if you ever invested and kept money for minimum period of 7 years then you would have never lost money.</p><p><br /></p><p>9. But what is most surprising and rewarding has been the performance of actively managed equity funds. Here are the data:</p><p><br /></p><p>Category 20 years </p><p> CAGR </p><p><br /></p><p>Hybrid 15.17% 15.96%</p><p>Hybrid - ex 16.37% 16.74%</p><p><br /></p><p>Diversified 18.11% 16.25%</p><p>Diversified-ex 19.89% 18.10%</p><p><br /></p><p>ELSS 18.45% 18.20%</p><p>ELSS-ex 19.66% 21.47%*</p><p><br /></p><p>*All Funds 17.52% 16.41%</p><p>All Funds-ex 18.73% 18%*</p><p><br /></p><p>* excluding LIC/JM/Taurus/Quant MF schemes. This mean schemes of HDFC/ Nippon (earlier Reliance)/ Birla/ ICICI Pru/ SBI/ Principal/ Canara Rebecco/ Franklin etc.)</p><p><br /></p><p>10. BSE Sensex was at 3800 in June 1996 (26years back). In last 26 years average-ex MF delivered 18% CAGR. Had BSE Sensex delivered as much as average MF schemes then the value of BSE Sensex should have been:*</p><p><br /></p><p>At 16.4% CAGR, BSE Sensex should be around 1,70,000 levels</p><p><br /></p><p>At 18% CAGR, BSE Sensex should be around 2,38,000 levels.</p>Mr.P.Ramsamy, EASY Investmentshttp://www.blogger.com/profile/00191027580069486871noreply@blogger.com0