Missed Balaji Amines, got Saregama. Missed Borosil, got Hikal. Both errors of ommision and commision are a part of the game. Have an open mindset that forces you to look for opportunities and to learn from mistakes

The secret to understand competitive dynamics in gold finance is to focus on the player which has approvals from Rbi to set up more than 2000 branches and not the ones which are facing difficulties in expanding. You know who the real challenger to Muthoot will be

Hospitals where Greenfield happens within the same city are the second best place to look for when the first idea of just brownfield capex isn't there. Soic students will relate more :)

@ValueEducator Neogen, Gujarat Fluorochem, Tatva (Electrolytes less than 1% currently though, used in Sdas).
Best way is:- Sona comstar, Valuations leave a lot to be desired though. What a business nonetheless 👌👌👌

+Polyplex working on films that will be used in EV. Seemingly less competitive intensity here according to the management

The watchlist I've created over years of reading Businesses and using screeners+Interacting with other investors:- (Given markets are correcting, one can study some of

Disc:- Not a recommendation by any means. Study independently. And make your own decisions.

@InvestmentBook1 @may27capital @soicfinance @Investmental1 Added watchlist, for weekend 😊

I have seen plenty of Buffettology on Twitter and in other places over the past few years. Its time to clear the air and understand that there wasn't one but 3 different Warren Buffett's that existed throughout his career 📚📚

Time for a thread: 3 Different Buffett's 🧵🧵🧵

One of the biggest mistakes that you as an investor can make is to forget the basic and the most important mental model an investor can have: Numeracy. Being fluent with numbers and respecting the context in which Buffett made his returns.

At the beginning of his career, let's call this Warren Buffett 1 i.e. Between 1957-1968. This was the time when he was working with small sums of money. He was extremely valuation conscious and guess what. How many stocks did he buy and sell between this period?

In this period, he bought and sold nearly 400 stocks. He bought Geico and sold it within 18months, he bought Marshals wealth at a PE of 3 times and he bought Commonwealth at a PE of 5times and sold it at a 60% gain. His returns were mind-boggling too during this time period

No Wonder he said, “The highest rates of return I’ve ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers… I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.” Look at the performance once

I always knew that aiming low was the best path for me, and so I merely sought to learn from my betters a few practical mental tricks that would help me avoid some of the worst miscognitions common in my age cohort.

But people get long runs when they're right on the edge of the wave,

whether it's Microsoft or Intel or all kinds of people,

including National Cash Register in the early days.

The cash register was one of the great contributions to civilization.

1/9 I have noticed a counterintuitive benefit from sharing my portfolio publicly. This isn't call for you to share your portfolio publicly; I'm aware it is not feasible/rational for many out there.

I'm just explaining how I think it helps *me*.

2/9 Before talking about the benefit, let me briefly mention the potential negative.

Well, the negative is probably obvious. Sharing my portfolio publicly may create a commitment bias. It's hard to change your mind once you propagate all the bullish pov on stocks you own.

3/9 There is truth to that, especially since I say I intend to be long-term investor.

It would create a cognitive dissonance if I get in and out of stocks every few months and yet claim myself long-term oriented simultaneously. So I kinda have to remain invested unless...

4/9 ...I think I've compelling reasons to sell.

While that sounds like a lot of negatives, I'm increasingly thinking the opposite.

If in 30 years I discover my return severely lagging the index, I already know who the culprit is. It isn't Fed, Xi, or any US President. It's me.

5/9 Essentially, I need to save my portfolio from my own worst tendencies.

Not having the option to flipping stocks every other month is likely to work in favor of my eventual goal of long-term ownership of great businesses.