Q4FY21 Concall Notes

All in One document

168 Pages

56 Companies

18 Sectors

100+ Hours

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Businesses Covered:

~AAVAS FINANCIERS
~AMBER ENTERPRISES
~ANGEL BROKING
~APCOTEX
~AU SMALL FINANCE BANK
~BAJAJ AUTO
~BAJAJ FINANCE
~BANDHAN BANK
~BALKRISHNA INDUSTRIES
~BLUE STAR
~BSE LTD
~CCL PRODUCTS
~CREDIT ACCESS GRAMEEN
~CRISIL
~CUPID LTD
~DIVI’S LABS
~DIXON TECHNOLOGIES
~EICHER MOTORS
~GALAXY SURFACTANTS
~HDFC AMC
~HDFC BANK
~HDFC LIFE
~HEIDELBERG CEMENT INDIA
~HESTER BIOSCIENCES
~ICICI PRUDENTIAL LIFE
~INDIAN ENERGY EXCHANGE
~INTELLECT DESIGN ARENA
~IRCTC LTD
~ITC LTD
~JYOTHY LABS
~KNR CONSTRUCTIONS
~KOTAK MAHINDRA BANK
~KRBL LTD
~L&T INFOTECH
~MANAPPURAM
~MARICO
~MAYUR UNIQUOTERS
~MHRIL
~NIPPON LIFE AM
~PERSISTENT SYSTEMS
~PI INDUSTRIES
~PIRAMAL ENTERPRISES
~RAMCO SYSTEMS
~STERLITE TECHNOLOGIES
~STOVE KRAFT
~SUDARSHAN CHEMICALS
~SYNGENE
~TATA CONSUMER PRODUCTS
~TATA ELXSI
~THOMAS COOK
~UJJIVAN SMALL FINANCE BANK
~ULTRATECH CEMENT
~VAIBHAV GLOBAL
~VARUN BEVERAGES
~VIP INDUSTRIES
~WONDERLA HOLIDAYS
All Notes together in a single document.

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I’m torn on how to approach the idea of luck. I’m the first to admit that I am one of the luckiest people on the planet. To be born into a prosperous American family in 1960 with smart parents is to start life on third base. The odds against my very existence are astronomical.


I’ve always felt that the luckiest people I know had a talent for recognizing circumstances, not of their own making, that were conducive to a favorable outcome and their ability to quickly take advantage of them.

In other words, dumb luck was just that, it required no awareness on the person’s part, whereas “smart” luck involved awareness followed by action before the circumstances changed.

So, was I “lucky” to be born when I was—nothing I had any control over—and that I came of age just as huge databases and computers were advancing to the point where I could use those tools to write “What Works on Wall Street?” Absolutely.

Was I lucky to start my stock market investments near the peak of interest rates which allowed me to spend the majority of my adult life in a falling rate environment? Yup.