Learnings from Berkshire Hathway Annual Report 2017 on 'How to select fund manager'
Hope some of you had the time to read Berkshire Hathway 2017 Annual Report. It has a beautiful section in its printed page numbers 24-26 (PDF page numbers 26-28) on how Warren Buffett won a 10 year bet against one of the best fund of funds managers…
Portfolio size > 25 lakhs, how to select the right manager/advisor for your portfolio?
I have been a keen follower and student of the equity asset management industry and the way it has evolved and how investors have behaved and should behave in the future. I am laying down some points that I have learned and what I consider are…
How to select the right broker
Choosing a broker depends on individual conditions: For someone who is a heavy trader and speculates a lot - it is vital or rather most important to choose a Zerodha type discount broker. It doesn’t make any sense for anyone regardless of trading…
Gruh Finance now trading at a Price to Book of 24!!!
Its intriguing to see so many divided opinions on Gruh Finance's valuations. There are certainly valid reasons which make Gruh deserve the valuation premium over other players but the question is how much of a premium. I am tempted to quote few…
Law of gravity in equity investment management - Size is inversely proportional to expected returns
Consistency of performance in equity investment management is as we all know, dependent on retention of great managers which is presumably higher in PMS/RIA/AIFs. I must add, however, that returns going forward are even more importantly dependent on…
2017 coming to an end - Thoughts on some media friendly outperforming managers of 2017
2017 is coming to an end. When I look at data for performance for some of the momemtum chasing media friendly fund managers (these guys are quite active on Twitter as well), I can’t help but comment because I somehow find too many gullible investors…
Advice to other investors trying to become full time investors during current bull market
Part 1 - Facts which are important to consider Last week before the end of year is always a bit lighter but what really surprised me this time 5 different guys who want to take the plunge full time into public equities spoke/met me in just one…
Most investors underperform the funds in which they invest which in turn underperform the benchmarks!!
In general, most investment vehicles (including mutual fund, private equity fund and hedge funds) around the world tend to underperform even the benchmark indices which possesses questions on active investing as such. Only a minority of investors…
Black Swan events - How should a large investor prepare for the same?
The concept of Black Swan was popularised by acclaimed author Taleb in his bestseller book "Black Swan", a book which I think every serious investor or businessman must read. This blog is written with the view of providing remedies to such Black…
PMS/Adviser/AIF Cat 3 vs Mutual Funds - Few important points to consider
PMS vs MF - Some points (Please note that by PMS I mean PMS as well as AIF and SEBI registered investment advisors here) Since PMS is lightly regulated, it is possible to create a portfolio highly different from benchmark and hence deliver an alpha…
