Banks Strategy of Mutual Fund Distribution–Highly Biased ? https://t.co/KrvJ9LTrn2 State Bank of India makes 99% of its mutual fund commission income from distributing schemes of SBI Mutual Fund. #MutualFunds
— Nooresh Merani (@nooreshtech) July 4, 2018
As we become adults, we tend to take on more time commitments. And because these commitments are so important to manage, adult life is characterized by thoughts & worries about time. So time seems to speed up as you age.
— StableInvestor.com (@StableInvestor) July 1, 2018
Mcap can't compound forever at a rate > earnings growth
Earnings can't compound forever at a rate > sales growth
Multiples can't keep expanding
Future returns of many richly valued high quality biz WILL disappoint : like past 11 years of Infy.
Note:Cos chosen only 4 illustratn pic.twitter.com/ItcHZoGjZ6
— Deepak Kapur (@tapak7) June 28, 2018
[NewPost] "Are We In A Bear Market?"
CNX Nifty might be only 4% down from all-time high, however the broader market tells a completely different story: https://t.co/Tp4bzybW4H pic.twitter.com/Fp1PiZrdNa
— Stalwart Advisors (@Stalwartsadvise) June 26, 2018
HUL - Is it a classic case of Peak growth/Margin/Multiple? F18 EBITDA/PAT growth 20%/17% (last 15Y EBITDA/PAT CAGR 10%/8%), FY18 EBITDAM - 20.9% (last 15Y Avg 16.4%). TTM P/E - 68x. A simple check on likely return based on various PAT growth assumption and exit multiple on F33 pic.twitter.com/782AdDcv3D
— Giriraj Daga (@GirirajDaga5) July 2, 2018
— BankHistory (@BankHistory) July 2, 2018
Very Interesting Data point by Ambit. An average IT Employee spent less than 50% time on productive work.
Famous Quote - Uber didn't kill taxi business, limited access and fare control did.
Similarly here - Automation didn't kill IT jobs growth, low productivity did. pic.twitter.com/EqSFthkLio
— Giriraj Daga (@GirirajDaga5) June 18, 2018
Have a look at the AUM data for a mid cap and micro mutual fund schemes which have performed well over the last 5 years. I have rebased to 100 at end-FY13. Even if you assume a 30% CAGR in returns it can be easily seen that the net flows into the schemes have been huge. pic.twitter.com/9p8HzK3PK1
— Capital Orbit (@CapOrbit) June 15, 2018
The almost total apathy of most brokerages/analysts towards intense Balance Sheet analysis, shocks me. B/S is foundation-it's strength determines longevity of biz. Huge risk can reside there.
P/Ls greatness is often cloaked in B/S weakness. Eventually such fabric disintegrates
— Deepak Kapur (@tapak7) July 5, 2018
3 key lessons from Massive wealth erosion by Sintex (combined value Rs52 vs Rs105 b4 event). 1. Low P/E not necessarily good value or low downside 2. de-merger leads to value unlocking or wealth creation 3. Surrounding brands usually good investment (seeing tanks since childhood)
— Giriraj Daga (@GirirajDaga5) July 4, 2018