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hi welcome back to the channel this is the second video in the guru investors series covering notable indian investors that we can learn from in order to improve our long-term investment returns today i'll be covering lessons from randy agarwal he's one of india's largest institutional investors and the co-founder of the muthila loswal group i'm going to start off with the lesson that resonated the most with me i don't believe in saving the best for last and that's why i want to have it right up in front the first lesson is investing is not like winning a gold medal in a race you can have multiple winners one person doing well is not at the detriment of another both investors can do really well from a single idea this is a beautiful lesson it's focused on live and let live finding a good company is actually a very small part of getting a good return on investment there's a lot more that goes into it in fact the value that you find will not come to fruition as easily if other market participants don't recognize the value and also raise the price to your perceived value the second lesson is that there are three dimensions to value this may sound familiar if you've already watched my other video about how i find multibagger stocks because i mentioned this lesson in that video too the three dimensions are that value is in the mind of the bio it's value in the mind of the seller and there's a true intrinsic value of the business in the stock market you can buy something worth a hundred rupees for five rupees and also sell something that's worth ten rupees for a hundred rupees someone is selling shares of a company while another person is buying the true value of the company lies somewhere in between these perceptions the greatest investors pay close to nothing rather than focusing on price the focus should be on value and paying as little as possible for it when buying quality businesses at a fair price initially your returns may be less but in the long term the market tends to heavily discount the long-term potential of a great business the real margin of safety lies not in the price but in the quality of the company you should want to buy a share that's worth 100 rupees for ten rupees and sell that same share for a thousand rupees this is what a hundred bagger return is and hundred burgers are very good for your financial health the next lesson is all about how to identify a great business the best businesses do not need additional capital in order to make more money he outlines his process of how he actually screens for potential investment opportunities the key is to quantify quality first look for good consistent return on equity then analyze the existing terms of trade which is we see the credit terms how fast the company can collect from customers and you know how favorable are their terms with suppliers then you look at the cash flows of the business after that figure out where exactly is the growth going to come from is it from the industry as a whole or is it from within the company look for the company's market share and its ability to grow that market share the goal here is basically to find good businesses that will do well in bad times the next and the final lesson is to have clear goals for your portfolio randy agarwal has stated that he wants to achieve a 25 growth of his portfolio so it doubles basically roughly every three years as your return requirement goes up you need to buy stocks that are cheaper and with a greater margin of safety you need to make sure that you are being adequately compensated for the level of risk that you are undertaking he advises that it's better to spend 90 percent of your time focusing on what you have in your portfolio at that time rather than you know looking for new opportunities since those are the businesses that you understand better rather than any new options that may come up so i hope that you found a value in these lessons that we've gotten from randy agrawal who is one of india's greatest investors and money managers and if you know of any other investing lessons from him do share them in the comments it's always good to learn more so yeah hope you like this video and thank you for watching you
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