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I first heard about IL&FS Investment Managers (IIML) when Prof. Sanjay Bakshi mentioned it in his interview with Safal Niveshak. Since then, I have wanted to analyze the business, but could not do so until March this year, when a “back-of the envelope” analysis led me to buy a few units of the stock at almost the current price. But then, I lost that envelope :-) and decided to do a re-analysis of the company, which I present … [Read more...]
As a reader, two questions may have come on top of your mind right now. One, “Why is a site that should tell me ‘how to invest’ telling me ‘how to read’?” And two, “Who needs to learn how to read?” The answer to your first question is – Before you invest, you must read. What to read? First, read my outline of a 2-year course in investing. The answer to your second question is – Before you read, you must learn how … [Read more...]
With the possible exception of Warren Buffett, no investor today commands more respect than Baupost Group’s Seth Klarman. Since founding his investment partnership in 1983, Klarman has not only produced unrivaled returns (in excess of 20% per year), but he has also from time to time offered wise and timeless commentary on markets and the craft of investing. He is the author of Margin of Safety, Risk Averse Investing Strategies for the … [Read more...]
This post has been written by Nishanth Muralidhar, a Safal Niveshak tribesman. One of the great enduring myths of the Indian middle class is that an investment in real estate can never go wrong, and that buying or constructing a house is the best investment that you can make. I believe Vishal himself wrote a post on Safal Niveshak stating that his house was the best investment for him. -----------------------Safal Niveshak Value … [Read more...]
If you have ever wanted to attend a value investing conference but have never been invited to one (like me)... If you have ever wanted to network with fellow small investors but never knew where to look... If you are open to learn from others’ investing gains and pains... If you are open to take a mini-holiday of different kind... Here’s announcing “The 2013 Safal Niveshak Value Investing Unconference” - a 2-day meetup of … [Read more...]
Janardhanan Vembunarayanan (Jana), a long time Safal Niveshak tribesman, recently attended Warren Buffett's 2013 shareholder meeting in Omaha. He sent me his notes from the trip, which I requested to be used on the Safal Niveshak website. Jana agreed, and here are his (unedited) notes from his trip to Omaha. My Visit to Berkshire Hathaway Annual Meeting 2013 by Janardhanan Vembunarayanan In 2006, I got interested in investing. I read … [Read more...]
"Kavya, what is money?" I asked my eight-year old daughter recently, even as she was deeply engrossed in a book. Her answer stumped me, simply because I was not expecting it and in the way she said it. She said, "Papa, money is something that, if we don't waste, can get us bigger and better things in the future." "Wow!” I told her. "You deserve a hug for this." How Kavya defined money may not be its perfect definition, but it … [Read more...]
There are moments in life when you are in awe of someone so much that you wish to be in that person’s shoes, doing what he or she is doing. I passed one such moment last weekend, watching the Iran-born Saudi Arabian music sensation Alaa Wardi render his composition of a couple of Bollywood songs in a very unique style. I have loved contemporary music for many years now, but watching Wardi was an experience in itself, and for several … [Read more...]
After profiling the ever-so-amazing Mr. R.K. Chandrasekhar in the first issue of Safal Niveshak TribeStar, I bring to you a young star in the making, Dev Ashish. Dev has been a long time tribesman of Safal Niveshak and a friend. I have come to respect him a lot via our discussions and also via his work at Stable Investor, a website dedicated to long-term investing. True to the spirit of Safal Niveshak TribeStar, Dev lays bare his entire … [Read more...]
I received a couple of emails from readers yesterday, asking about my views on Hindustan Unilever (HUL) after the parent Unilever announced an open offer to buy an additional 22.5% stake in the former. Email 1: I have 300 HUL bought at Rs 400. Given the confidence the parent has shown in the Indian business, do I buy more? Email 2: Given an MNC’s confidence in the Indian consumption story, does it makes sense to buy other FMCG companies … [Read more...]
