저자: VijayKedia · 외국인
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인도 중소형주 중심 포트폴리오 운용 경험을 공유. 부동산·금·해외주(알파벳, 에어비앤비 유사 종목 언급) 분산 설명. 올해 포트폴리오 30~40% 상승 추정. 중소형주에 거품 우려가 있으나 종목 선별과 펀더멘털 중요, 단기 급락은 주기적으로 발생한다고 봄. 초보자는 펀드로 시작 권장. 대형주는 유동성 문제로 비중 낮음.
다듬은 글
And with in equity what is the split of mid cap small cap stocks? Most of them are mid cap and small caps only. Actually I don't understand the definition of mid cap and small cap as per CV or on the exchange it is different. Ah but most of my portfolio ah consist of mid cap and small cap all. And ah Vijay, what about your real estate exposure, how did that come about, what did you buy, when did it start?
Started in an income think in 2003 and four or something that was the first real estate besides my house which I actually invested in that in every bull market I keep on investing in real estate you know I take some money out from the equity and invest in a real estate just to create an income just to create a passive income because I don't want to be dependent on the income of the stock market so that's how it started and this you get rental income from this properties property so that I am free.
Every time even the market falls I am free. It in fact I think aids to your risk taking ability. Yes exactly because I don't need money. So if I don't need money and if I have surplus money like I am getting from dividend and I sell some shares I get some money so what would I do. So I re-invested in the market.
And ah Vijay what about your investments in gold and silver, how did that come about and how do you look at gold and silver do you look at it as a diversifier? No may be a because I bought some ah this ah once gold bond ah started investing in last three years I think. So as I said that I just want to take some money out from the market like may be suppose if I made ₹100 in an able market for example.
So I just take ₹2 and ₹3 out of that just to create a passive income just to create a balanced ah portfolio. So that is not a significant part of my portfolio in gold and silver. And just for you can call it just for fun and just for a balanced portfolio. Time investing. And Vijay, how did your portfolio perform over the past year?
Luckily ah everybody is genius in a bull market. So I was also a little smarter than I may be and I have not played any role into this. The market has played all the roles. So it is it is it has performed well. But can you give just a broad range. In fact I have not calculated but may be 30 40% I don't remember my calculation may be wrong I get to know about my portfolio from media only I never calculated I never calculated my demat statement and all because all these things are imaginary only digital money you know so what media tells me I believe that must be near about correct and may be whatever and Vijay can you also tell us about your international exposure right now have you bot anything because we saw the markets run up quite a bit and you were thinking about it.
So did you end up buying something on the international side? Yes, I remember the last time I spoke to you, I said that I am about to invest some money in the international market. So after that I just ah last year and maybe one and a half years back I invested in Google Alphabets. And ah recently six months back I boat a make my trip ah on asday.
So these two investments are international investments I have in my portfolio. And what was the rationale for buying this at that time. For phone just to you know just to okay just to you know tell myself okay I have some international exposure nothing to do with rupee depreciation and ah dollar appreciation and all just I I just to like you can call it a small challenge okay if I am buying some shares and the shares its stock is doing good I feel happy okay I I identified this share just for fun because am amount is very small as per that liberalize that scheme you know remittance scheme LRS but are you planning to may be buy some more stocks on the international side and may be because last investment I made six months back that was 200 ah $250 as per RBI rule now in April I can invest further $250 thousand ah dollars on my personal account so maybe I may invest a more money $250 thousand may be and are you ah holding on to any cash or you are fully Deployed a how do you look at no fully deployed I never have ah cash ah in my career of over 30 years I I don't remember I have ever had ah cash in my in my bank account it may be if I have some expenses like if I I feel that it may be 3 months later I have to spend this much of money it may be in some property or whatever it is then I can create cash two three months four months in advance you know for some particular purpose but usually otherwise I don't I am an enemy of ah cash you know I I lose my sleep when I have cash in my bank account and Vijay we know that you have ah you know you made so much of wealth from mid small cap and even micro cap stocks as it is defined conventionally.
But what is your risk management strategy? Do You Go All In Are All Your Bets High Conviction Are You Like to Stagger Your Investments? In the sense? In the sense do you like to be when you spot a multibagger stock. Potentially a multibagger stock. So do you know how to make small investments in the beginning and then build it up as you go?
No nothing all in all. All in. Yeah. All in. Whatever money I have today in my bank account. Ok. And whatever money I have created to buy that shares I will buy the entire. I will invest the entire amount. Ok. Yeah. That gives me happiness. That I am invested in the market. And when I identify some shares.
So I feel like then it becomes like addiction to me you know untill unless by some 1% and something it becomes like I am missing something. I may go wrong also. Right right. But suppose your portfolio is say ₹100 now if you like you know you thought that there will be a particular stock that will run up you know potentially in the future but obviously we don't know how it plays out so would you take a smaller allocation of your portfolio and then build it up or how do you do it, that is not possible because now a days what happens is that whatever I take, people come to know about it, that is fine, it gets leaked whether it happens from the broker or I don't know from where?
I don't know. But that news of mine comes to me in the evening. If I buy some shares, I will take it at 2:00 pm, then I will get the news at 3:00 pm, latest after 15 minutes. Someone called and said that you have taken this. So that's a problem. So I want to complete whatever I have to take by doing the circuit in one, two, three days.
Right right right to finish. Yes. Now, like news, that market has become a bit like this, that news comes, something or the other reaches from somewhere. And Vijay what would be your big advice for investors now it has happened that on social media we have lot of influencers coming in a lot of people give recommendations about stocks.
Many people give recommendations about Even SME IPO. So in that you know what will be your advice to investors how should they deal with this? My only advice here is not to learn geography from a history teacher. If you choose your guru, then choose a person after thinking about it who has invested in the market for 20-25 years, in the sense he has experience.
If you make a new person your guru, then why did he become your guru? If he has just arrived and is earning money by giving you consultancy, then you are going to be ruined. All these are Guru Ghantaal. There is no guru for all this. So stay away from them and secondly, consider it as a business, my quote is that your perception on the market rewards us, if you will treat it as a gambling then it will prove to be a gamble for you, this is a means of earning money slowly, this is a business, this is not a gambling den and you cannot become a millionaire here overnight, here this is a process like a plant, like farming, this is a process, it should be followed and as you know everybody wants to know what you think about mid cap small cap, what is your market outlook?
But I would like you to understand that now you know there was a lot of talk about froth in mid and small caps. You know Sebi also said that there could be a bubble forming up. There were a lot of concerns and a lot of people, especially retail investors, you know, see that if they can make money from mid and small caps, they always look for those opportunities.
So what advice would you give? Should they continue looking at it and theirs because retail investors may not have the same ability and same portfolio to invest and back big stocks. So how do they manage risk? First of all, the thing about froth is that suppose there are 5000 shares in mid cap and small caps, it is not like that there is froth in all of them but there is froth in many pockets and you must have seen one thing about froth that a month ago the market corrected drastically, the index must have gone down by 1000-1500 points but 30-30, 30, 35%, 40% of the mid cap and small cap shares went down, it got purified which we say that whatever was to happen, once it got purified a little, after that the market came back, such shocks are going to happen again and again.
Such shocks will occur every six months. The way people are excited, there is participation in the market, these people are the ones who bring that shock. So there is no need to be afraid of it. The simple thing in this is that the selection of shares should be correct. You should invest in a company whose fundamentals are right, in which there is no operation, no manipulation and the promoter of the company has a clear game or the company is a clear cut company, has fundamentals, has a bright future, and my advice to new investors is that they should enter the market through mutual funds.
Because it is difficult. This is not a game that you can learn by watching. If you learn by watching, then I ask you a question, like in your life, you must have cut your hair 400 times, till date, can you cut your own hair or can you cut someone else's hair or not, you will not have to learn by watching, you will have to do it, then you will learn it, a new investor thinks that I have read this, read that, heard this, heard that and I can do it, it does not happen like this, to swim in it, it is necessary for water to go into your nose and ears and especially the mid and small cap space with so much volatility, there is a lot of volatility.
30-40% go away, but the large amount of money does not go away. So he should understand how big a risk you are taking. So there should be a balance of risk as to how much risk you can take. You should know that. Right? I wanted to ask you one more thing. Are you planning to also look at some large caps to just give some stability to your portfolio?
Whether you are thinking like this or not, I am not able to sustain much investment in large caps because there is a lot of liquidity in large caps. So sometimes I feel like the market is going to go down. Like I used to think 2 months ago, 3 months ago that the market will fall. So if I had a large cap, it would have been sold to me.
So in this sense, I do not invest much in large caps and I am happy with mid caps. Right right right in small cap and mid cap. And Vijay, as we were saying, there is a lot of volatility in mid and small caps. So whenever I see you, you are always smiling and always happy. So firstly how do you keep yourself so fresh and how do you know what is the secret of your state of happiness and also what is the secret of your health because you do n't look as old as you are, I may be a year or two younger than you as far as age is concerned or equal to you and as far as business is concerned, I have done the same thing my whole life, I have shot at one place in life which is called kicking at one place only, so life has taught me that by worrying about what all will I do, if I worry and start crying and this falls, this sinks then what is going to happen to me, nothing is going to happen by this, the market is going to play its own course, so it is better that I adjust my mind according to the market because if I get depressed and if suppose I get affected by the market falling then my next decision will be spoiled, so business is very important for me.
I have said many times that this investing is like yoga, like yoga the mind body and soul have to be aligned together so the whole soul should have only one thing, now I like this, I have taken this for long term, I don't know for how many years I will keep it, I don't know at what price I will sell it, that is not my target, now sit with the company, just like the owner is sitting with it, he is the promoter, similarly I am also sitting with it, whether it will fall or rise, we see this every year, every time, every day, so how many times will you die for the same thing brother, so do you follow yoga and any other physical practice, yes yes I do yoga.
I give a little bit of spiritualism and meditation. I will try. Making yourself a better person is not happening but it is a process. Work is in progress. Ok. Great Victory. Thanks a lot for joining us today.
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