Decoding Maize Cycle & Potential Winners
Traditionally the maize crop in India had two large user industries – The remaining 10-15% would be consumed by humans as sweet corn, makki-ki-roti (corn…
Indian Markets
Strategies work, Stocks don’t!
Value investing works, and so does growth investing. Quality investing works and so does chor-bane-mor (improving governance). Start-up investing works, and so do turnarounds. Even…
Memo – Risk, Benchmarking & Taxation
Stalwart PMS completed its first full year of operation in May 2024, this memo is intended to help our initial partners understand our risk mitigation…
Exiting Suven Pharma with 663% Return in 4.5 years!
We invested in Suven Pharma in December 2019 (pre-demerger) at a price of Rs 131 a share (adjusted for the demerger of Suven Life Sciences). Over the last four…
Nifty@21,700: What should be the Portfolio Strategy for 2024?
‘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…
[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…
Tenets 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…
Is 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…
Memo: Let’s Brace for P&L Accidents But Not Overestimate Impact on Intrinsic Values
(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…
Financial & Mental Preparedness For What Lies Ahead
The global economy has locked down and experiencing unprecedented uncertainty & volatility. Accordingly, it is ideal for everyone to ensure we are mentally and financially prepared to…