Memo: Let’s Brace for P&L Accidents But Not Overestimate Impact on Intrinsic...
(Following is a copy of Memo shared with subscribers of SA’s Model Portfolio) Starting this earning season i.e. of Q4FY20 (& beyond), we would hear a lot of exceptional items in the form of loss of...
View ArticleIs Real Estate the next Pharma?
A few years ago I had made a thematic presentation ‘India’s Consolidation Wave’ at Flame Investment Lab, Pune. The basic idea was to demonstrate using actual data from multiple industries that how some...
View ArticleAn Update on Gujarat Ambuja Exports Ltd.
A couple of years ago I had the opportunity to present on Gujarat Ambuja Exports Ltd. at Tamil Nadu Investors Association’s 20:20 conference held in Chennai. I had under half an hour to explain the...
View ArticleAPL Apollo – A 5-Bagger in 2.5 Years
We bought APL Apollo at Rs 1,269 a share, in Oct 2018, and recently exited at a price of Rs 1,258 a share, however after the stock split of 5 for 1. At an unadjusted price of Rs 6,300, the stock has...
View ArticleIntroducing Anti-‘ES’G smallcase by Stalwart Advisors
Excesses at one end often create opportunities at the other, which can be leveraged by pragmatic investors. Environmental, Social & Corporate Governance (ESG) theme has gained tremendous momentum...
View ArticleTenets of Commodity Investing – Framework, Experience & Learnings
In this post regarding investing in commodity businesses, I cover the following: Natural vs Processed Commodities, 10-pointer framework/takeaways based on our experience, How our stock-picking has...
View Article[Video] Webinar with Vivek Bajaj – Investing Framework & Case Studies
In this session, Stalwart’s CIO, Jatin Khemani discusses: Stalwart’s Investing Framework – 20:20 & Special Situations Drivers of Long-term Returns – Volume Growth Industry Life Cycle List of...
View Article[Investor Memo] Wise to Optimise Expectations & Review Asset Allocation
In April 2022, we published an important subscriber memo titled ‘Wise to Optimise Expectations & Review Asset Allocation’ While the two pillars of the bull market: Liquidity & Growth are...
View ArticleWhy Selling Strategy is as Important as Buying?
The stock market is like a pendulum that swings from one extreme to another. While it often comes to the center, rarely does it stay there for long before moving to either of the directions. This...
View ArticleSelling in Bull Market: Discipline or Mistake?
Following is a copy of an Investor Memo shared with Treasure Trove subscribers We have received feedback from some subscribers questioning & wondering if we made a mistake by exiting businesses...
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Nifty@21,700: What should be the Portfolio Strategy for 2024?
“The scream” painting by Edvard Munch ‘Market has risen too much too soon, a crash can come anytime. I have started selling’ ‘I am raising 20% cash (i.e. selling 20% of my portfolio in one shot) as the...
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