One of the most unique managements who have taken bold bets in the past which have paid off. How will the future pan out?

To read about the business and the opportunities🔗|Natco Pharma Chasing optionalities: https://t.co/LBqehxpiAa

by @Ankush__Agrawal

Out of 17 stocks that I own, I am allowed to go wrong in 2-3 of them. Not going wrong shows that you are not taking enough risks or operating on the edge. Learning from mistakes is the number 1 way to improve as an investor. An excerpt from the annual letter :)

Another Superb Blog by @badola_arjun . This time on Apollo Pipes 🏗️🏗️

This completes our PVC/CPVC pipes industry analysis. Done with Astral,Prince and Apollo 😀

Link to read🔗: https://t.co/Ib40q9Fg3g

The Art of asking smart questions | When do you really graduate as an investor?

Time for a thread🧵🧵🧵🧵🧵

Retweet for Max reach!!

You graduate as an investor when you start asking things like the quality of revenue, incremental quality of earnings and the competitive landscape. Eg:- One API player will grow earnings because of shortage in market for those

APIs but the other one which will grow because of being the lowest cost producer. The markets often give higher Valuations to the latter player.

Another example that comes to mind is Balkrishna Industries vs other tyre players.🚜🚜

Given the fact that it is the lowest cost producer and has the highest margins. It always gets a premium to the other players in the tyre space. Whether at peak or at trough.

One more example is that of APL Apollo, same business got low valuations during the last cycle and collapsed by 50%+ when their EBITDA per tonne reduced. In this cycle, the value added proportion has increased.

Six key learnings from a friend/mentor in investing:-

1. Investing is a game of probabilities and not possibilities.

2. Sizing is the most important decision that you make.

3. Being a generalist and learning from sectoral experts is fun.

4. Identify the key variables

And learn how to probabilistically see how these variables move in the future.

5. Benchmark companies within a sector and then see which one is doing what, it will sooner or later reflect in financials.

6. Network as much as you can. Network is the modern day networth.

Epic Watch of the day: https://t.co/uq1ZAr50Ft

Bet you won't find a simpler explanation anywhere.

What are Monoclonal Anti-bodies? interesting to understand to get the trend for businesses like Syngene and other contract manufacturers+Animal Pharma innovators

sir you will enjoy this one!

Paraphrasing @tusharbohra on @IIC_Conference today ::

"If 10 commodity companies are doing capex at the same time, it signals a peak. If 10 companies in Chemicals/API/Pharma are doing capex in different products at the same time - it probably signals the start of a New Era" 🇮🇳🇮🇳

Not all chemicals companies are expensive today. I’d screen those where current EV/Sales is in 3-5x range and more importantly where the capex is set to unfold that should improve ROE, ROCE and EV/Sales. It’s more about the individual business cycle leading to earnings growth …

Understanding of COVID-19 vaccine manufacturing by @unseenvalue "Unseen Trends in Biotechnology"

Timestamp: 2:05:02 onwards📽️⤵️

https://t.co/d6PkCJwuYP

Context ::

https://t.co/jKwBEs81CB

Listen from around 2:21:00

#CDMO