Portfolio up more than 14 times in less than 9 years – an IRR of 37%

Phase 1: Bull market in all stocks, Massive outperformance by SG for self and as PM, Portfolio increases 7.6x, alpha of ~500% in 4 years

Phase 2: Out of market due to SEBI RIA application, resulted in underperformance by 4%

Phase 3: Underperformed market by ~15% as euphoria around small caps valuation reach bubble territory, sitting on 64% cash by March 2018

Phase 4: Bear market in small, midcaps & value stocks due to new SEBI MF rules followed by Covid-19, alpha generated at lowest levels of just 4%

Phase 5: ~3x appreciation at portfolio levels with ~123% alpha in one and a half year, portfolio looking in great shape fundamentally with a PE of 12x even after tripling from March lows

Phase 1: Bull market in all stocks, Massive outperformance by SG for self and as PM, Portfolio increases 7.6x, alpha of ~500% in 4 years

Phase 2: Out of market due to SEBI RIA application, resulted in underperformance by 4%

Phase 3: Underperformed market by ~15% as euphoria around small caps valuation reach bubble territory, sitting on 64% cash by March 2018

Phase 4: Bear market in small, midcaps & value stocks due to new SEBI MF rules followed by Covid-19, alpha generated at lowest levels of just 4%

Phase 5:  ~3x appreciation at portfolio levels with ~123% alpha in one and a half year, portfolio looking in great shape fundamentally with a PE of 12x even after tripling from March lows