You wanna read bullshit, here it is.

They are trying to portray high portfolio churn as updating of portfolios.

So if the fund manager churns his portfolio more he is updating his portfolio

By this logic citadel & Renaissance have the most updated port

How ridiculous isthat!

[Conceal intentions with false sincerity]

Espouse a belief in honesty and forthrightness as important social values.

Do this as publicly as possible.

Emphasize your position by occasionally divulging some heartfelt thought - though only one that is meaningless or irrelevant.

#DeepakNitrite valuation is most attractive in the space...

growth will be most explosive in the space...

I thought this was a great quote from Charlie Munger: investors chasing the latest cyclical trend often forget that "the old cyclicality is going to come back"

(From @williamgreen72's "Richer, Wiser, Happier" book)

3 ways to research durability:

You could gather testimony about customer behavior

You can go by the history of the industry

You can use a speculative approach by trying to work out the adoption of future technologies/trends & how that can shift the economics of the industry

We generally spend a lot of time talking to customers, studying as much of the industry’s history going as far back as we can, and try to sketch out the economics of a new company entering the market

@Nithin0dha Thanks for sharing this, I’ve introduced around 12 folks to Zerodha. There’s a ₹10k bonus lying in my Console so technically they must have paid more than ₹1L in fees or brokerages.

What a brilliant product, pass my appreciation to the Team. 🔥❤️👏

@Sanjay__Bakshi Prof, Generally this helps the company to focus on their operstional parameters and improve their effcncy / effctvness in their industry. The key point is thst one aims to outperform the industry players. Espcly if you are a functional / sr mgnt personnel in their daily qrtrly ++

annual perf. Rarely an operational mgr / sr mgr runs their show with a view to maximize share price in the short / medium terms. Next to impsble. The timelines of investors / spcltrs / sr mgmnt / rarely coincide to enable them to pursue same objctvs.

1/ Two Meals a Day (Mark Sisson and Brad Kearns)

"When you can burn body fat and make ketones at any time and your appetite and satiety hormones are optimized, you don’t need as much food.

"Metabolic efficiency drives longevity."

https://t.co/g3U1gVEsNE

2/ "Whenever you eat anything, even the “fat bombs” (homemade high-fat snack foods) favored by the keto community, burning stored body fat (along with the manufacturing of ketones in the liver) ceases abruptly while you process the ingested calories."

3/ "The lifestyle essentials include increasing all forms of general everyday movement (especially frequent breaks from prolonged periods of stillness), following a sensible exercise program (including brief, high-intensity efforts)...

4/ "implementing superb sleep habits (which helps lower stress hormones and regulate appetite and satiety hormones), and setting aside time every day to unwind and unplug from hyperconnectivity."

5/ "Keeping a written journal provides long-term benefits, including better emotional regulation, self-awareness, & self-confidence; lower inflammation, blood pressure, & stress hormone levels; and better insulin sensitivity, liver function, lung function, & immune cell activity.

@unseenvalue Bigger the KLPD the better 😝

Also better D/E with great capacity is icing on the cake

Law 11: Learn to keep people dependent on you.

@SterlingFincap @varinder_bansal EV and PV (Photovoltaic) will cut short the ethanol ramp up. Renuka will end up like their Brazillian misadventure. Disclaimer - Was stuck in Renuka for years and had written off the investments. Good to see green pasture holding with SL

@InvestingHike @Willwin7 @varinder_bansal Yes everything will exist. Govt target to reduce important so doing everything in that direction Only including flex fuel.

@Sanjay__Bakshi @iancassel Thanks Sir for amazing insights as always.

To fight some of these "bad demons" I keep doing experiments like averaging up..

Also, during feeling of high PE or market overvaluation, I try not to take profit, but trail exit and give room of 20-35% drawdown to excellent businesses

@iancassel Also, I am experimenting few indicators which will help me re-enter known great business again (even if I exited at lower price) and help remove price anchoring in objective way..

Let's see how it pans out..

But yes... ultimately anyhow we need to conquer these demons 😀

@ramnath2015 DCF is a lot of bullshit.
5 yrs back u could have run a DCF in ITC and come to great conclusion but over the last 5 yrs the youth globally has moved away from cigarettes to weed

The problem is that you often do not know your friends as well as you imagine.

Friends often agree on things in order to avoid an argument.

Since honesty rarely strengthens friendship, you may never know how a friend truly feels.