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Now I am 20% into uh you can call it a liquid share. See in last one year my portfolio must be down somewhere around uh 30%. And uh but if you ask for in last 5 years say after covid then I think morally average it must have gone up maybe three times or something there are some stocks some sectors which are really very cheap because they are still not having any fancy you know with the hnis and all last maybe last one year or last one and a half year maybe I have added small real estate I have added maybe bought some warehouse or something because uh you know I am happy when I'm buying shares not gold and silver or anything else so That gives me thrill.
Nobody knows Trump's mind. Nobody knows about China's mind. Nobody knows anything about it. But I think ultimately it will settle down somewhere here. So Indian stock market, I think the market will be mixed. Hello viewers, welcome to the latest episode of Guru Portfolios where we quiz investment industry veterans about their own investment portfolios.
In today's episode, we have with us a very special guest who needs no introduction. We have with us India's top stock pickers, Mr. Vijayakia. Hi sir, welcome to the latest episode of group portfolios. It's great to have you here. Thank you very much. So sir, first off, can you tell us a bit about your own asset allocation mix what about your equity allocation, gold, silver, real estate?
So I think it is more or less same as we had spoken last time. So it could be somewhere around maybe uh 5 7% in gold and silver and uh maybe around 10% in real estate. So maybe the allocation in real estate has gone up a bit maybe because of the price of the real estate has also gone up and the stock price has come down and maybe I am having as on date I think somewhere around 10% in cash 10 12% must be in cash and the major changes which had taken place is that that uh now I am 20% uh into uh you can call it liquid shares like it's not large cap but they are very liquid you know so the 20% portfolios here marked with liquid shares years which I may convert any time into some any midcap or small cap and all and rest is in mid and small cap rest is in mid and small cap and sir what about your portfolio returns how has your portfolio performed over the past year and over the past 5 years so frankly speaking I do not track uh annual return and all because I'm not answerable to anybody as you know that I'm managing my own whatever portfolio small portfolio I have I manage for myself so I don't know about yearly and I don't believe in this caggr and all also that annual return and quarterly return I don't believe in those things so but uh what uh I can guess that in last one year after this uh this uh whenever the market started falling falling after September or maybe in last one year my portfolio must be down somewhere around 30%.
And uh but if you ask for in last five years say after covid then I think moral average it must have gone up maybe three times or something three times or four times I don't remember been around and uh now it is uh now it is lesser than last year so I'm enjoying that got it and the increase in large cap is basically because of uh volatility and just to have some liquidity comfort in the portfolio.
So because I sold some shares some old holding I sold so I had to deploy that money somewhere. So I bought some liquid shares so that is why it has been kept in some liquid shares they may not be large cap as per the as per the stock market theory of large cap that is really different. So but they are liquid some of them must be listed some must be there in ethanol uh also so that money I have kept because I found the valution also cheap and plus liquidity is there.
If I find some good story in Metcap and large uh small cap where I generally invest so I can switch over. So that is the idea otherwise I'm happy even uh remaining in those companies also. Uh in terms of mid and small caps uh what's the valuations like right now do you find there is fraud because last time we spoke there's a lot of concerns about fraud in the valuations in small and midcaps.
I think both way when we are talking about midcap that means we are talking about 5,000 shares. So there is no one matrix for all the 5,000 shares. There are many shares which are there are floats in the in those shares. And at the same time you will find some uh some value also. There are some stocks some sectors which are really very cheap because they are still not having any fancy you know with the HNI and all.
So I think there's a mixed trend in the market and also Vijay you were also planning uh to do some international investing last time we spoke. How has that experience been for you? So that I have done in last three years I have invested little bit whatever is allowed as per the that law that remittance law and all that's a small investments I have done and after that I haven't increased my investments so those are doing pretty well so I'm I'm having only two stocks in the US okay it's in the US only in the US market only two stocks I am holding Google and make my trip so they are doing good that is for fun it is not going to move the needle you know and you also use real estate for your passive income sort of to give you that psychological comfort.
So have you uh also added more on the real estate portfolio besides the marktomarket changes. Have you also added in that sense in last maybe last one year or last one and a half year maybe I have added uh small know real estate I have added maybe bought some warehouse or something to warehouse or something.
Again this is because it can give you better yield. Not better yield it doesn't give you better than the market but gives me passive income you know. No, no, obviously not better than market but then uh residential or commercial just a little bit diversified a little bit passive income because I invest in commercial properties maybe this time I've invested in warehouse.
Right. Right. Right. So they give me passive income and the property price also increase. So just to you know uh pick your brains on this commercial commercial real estate bit. Do you also think about diversifying that like now you're getting into warehouse do you also look at other options? No no no no no that is not my cup of free it is just just a small portion of my investment as I said the total portfolio may not be more than maybe 10 12%.
So just to have a balance uh something other I don't have any intention to diversify into real estate in a big big way I don't have that intention and when as on date as of now sure sure and when it comes to gold and silver you have added or is it just mark to market I think I maybe mark to market I have not added you know it has already gone up maybe double then whatever I bought like gold has gone up maybe in last two years must must I think 100% uh return a small portfolio so I've not added further.
This is what physical uh assets or your financial VB and all. Yeah. No physical or ZB and CH and silver ETF. I understand it's a small portfolio but now you know people are talking a lot about silver because the prices are showing some rally. So are you looking at that space with some interest? The silver ETFs I had bought at a cheaper price.
Now it has already gone up and I expect silver to maybe outperform gold now from here onwards maybe. But that is all right. I don't give uh much you know attention there. I don't intend to buy more also because uh you know I am happy when I'm buying shares not gold and silver or anything else. So that gives me thrill right stocks give me you know the thrill.
So and have you kept any cash out in the past year? cash I am having somewhere around 10% cash as I said and maybe 20% into some liquid shares so maybe 10% cash as on date I am having 10% cash which I'm looking for some opportunity to to deploy to invest and this cash is something you keep taking out whenever you see that maybe the valuations are high and maybe you you'll sometimes would like to wait for right opportunity right opportunity because uh I sold some shares in last uh maybe 3 four months back so but I did not buy to I did not uh have any did not get any good idea to invest that money at these these valuations.
So I have kept them in the bank only and looking for some opportunity and also uh Vijay you have also been vocal about how middle class is rather how retail is getting carried away by FNO because there are weekly you know expireies happening. uh what is your word of advice or caution for these new investors who are you know just coming into the FNO segment?
My advice is same as I had discussed last time also you know uh for the newcomers uh doing uh future and option without understanding is like driving a formula 1 car without seat belt. So accident is bound to happen. So, so this we have discussed that I have said this on various platform. I have made many songs on this but it appears that people don't understand.
So finally I realized that okay uh ultimately you have to pay a price for paradise you know if you want to really learn and if you want to become a you can call a matured investor in the market so maybe that path goes through the offend only this is what I have realized until unless you really burn you you fall you don't learn so that's a process I had also gone through that process and everybody will have to go through that process so that is all right sooner or later uh the main thing is that there anybody indulging into fo without understanding should realize that that is not for them if it is suiting you then it is all right otherwise but it's okay market teaches everybody yeah data shows that the retail turnover of index options has gone up by 35%.
So rather than so people are not listening but more and more people are also joining the market. Now retailers retailers are the king in this market. So it's okay they will learn their lesson. On the other hand you have also encouraged that middle class people and you know they should invest more in mutual funds.
retail guys should invest in mutual funds instead of and improve their savings rate because uh like I think in one post you mentioned how you can easily if you invest 50,000 regularly you can actually achieve a copus of 5 cr uh so what about that you think that the low low savings rate is also something you have highlighted can be a big problem for why should it problem I think it should be a boon for this investors like ultimately if savings rates are coming down this is what you are actually yeah yeah you're talking about.
So ultimately what middle class is going to do? So there are only few things left with them. Either they have to reduce their expenses or they have to cut down to their lifestyle and branded branded things and all they have to cut down there or they have to increase their uh what you call the income which is not in their hand or they have to adopt they have to learn financial literacy to increase another to have another source of income which may come from the stock market.
But since you are new to the market you cannot invest directly. So initially you have to go through some mutual fund or some uh manager and all. So I think that that uh low uh lowering uh savings rate will bring more and more people towards investing and towards financial literacy which is good about the economy which is good about the uh stock market and uh sir besides us have you invested in any other markets?
Any other market means not I have not invested directly into any country and all but there are some Chinese ETF listed at uh uh Indian stock exchange. So I have bought those Chinese ETF in last one year. Okay. Which would have done well for you I'm guessing because of the how Chinese not done they had done well uh you know at money after my buying in in 6 months they were up by 30% or something.
So but now again they are down uh half from the peak. So it is maybe 15 20% but that is I don't count that way. I bought them for maybe for two to hold them for maybe four five years or I don't know. So hopefully they should do but but now there are so many uncertaintities because of their their feud with Trump and with the USA and all.
So little risky but I love risks so it's okay our program and uh you know since you mentioned that how is your view on how tariff linked uh these uh you know feuds will go from here what about impact on India? What about impact on China? Can you give some thoughts on that? So I I don't know whatever I will going to tell you now.
So that would be just a fluke because nobody knows his mind. Nobody knows Trump's mind. Nobody knows about China's mind. Nobody knows anything about it. But I think ultimately it will settle down somewhere here. Already it has started settling down from 140% of how many% tariff to China. It has come down to I 30 40% or whatever it is.
So maybe by the time both party will realize that we have to go down little bit. So ultimately I think it will settle down. It is not going to escalate further. whatever escalation hack could have uh you know happened I think that is over so ultimately everybody is a businessman you know so they will settle down somewhere from here on what is your outlook on uh Indian stock markets so Indian stock market I think the market will be mixed okay and of course that there is a smart recovery so far indexes are concerned and nifty and BAC Sensex have really recovered very well beyond my expectation let me tell you I never expected that index will recover so much but none of investments are linked to the indexes.
Okay, this primary indexes. So to me it is it is all right. That does not mean that now index may be somewhere around the top or little bit you know here and there. So but my stocks are not uh they they are not performing as per the index. So that is all right. So I think market will be mixed. Some shares may go to new high shares may not go to new high for next three four years.
So there will be a mixed trend. So my approach is like bottoms up as they we call in the market. I invest in the company. I don't invest in the I invest in the individual stocks. I don't invest in the index. So it doesn't matter whether it is going to a new high or not going to a new high that is all right.
And so any particular sectors that you are you know specially bullish on three four sectors earlier also I have said like tourism I think is could be a sunshine sector in the market because the government focus is on tourism. how to increase domestic tourism. So in that maybe airlines should do well.
I'm holding one airlines company shares should do well and accordingly then maybe uh hotels and all should do well. I don't own any hotel shares. So I think and hospital shares should also do well. So then why hospital share? Hospital shares what's the ration because the the population is rising you know India is also rising population country.
So people will ultimately and after covid people have also realized that the biggest asset they can uh possesses in their life is good health and they say this is more important than money you know so now people are realizing so I think all the hospitals should do well but they are expensive let me tell you all the all the hospital shares are very expensive so but I think they should do well and plus of course this EV things is still to play out EVs and all So power, EV, all these things should do well.
And so do you have any insurance life or medical? Medical of course I have uh life insurance I have not taken in last 20 years. I think some old insurance maybe I must have topped them up what they call uh so but I have small insurance. Okay. And medical is how much coverage would you have roughly? Medical must be having around I think I don't remember 40 50 lakh something.
And so lastly, can you give us something in your own style for our viewers who are just starting to plan their investment, starting to build their long-term portfolio, have some financial goals in mind, how should these people uh invest their money, save and also plan for their future. So may I have written a song in Hindi for all these new investors or first-time in the market not for the pundits.
Okay. So Yeah, but a person Thank you sir for joining us today and sharing all those insights and taking us through your own personal investment portfolio as well as your outlook on markets. Thank you. Thank you viewers for joining us today and being tuned on this very special episode. For more such interesting content, keep watching Milt.
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