저자: VijayKedia · 외국인
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결론: 시장 등락과 무관하게 기업 성장성에 장기 투자하며, 현 시점 특정 방향 예측은 하지 않는다. 시장 전망: 2018년 인도 중소형주는 13~20% 하락했으나 Nifty는 소폭 상승. 시장 방향보다 기업 투자 관점을 강조하며 100% 투자 상태 유지를 밝힘. 특정 지수 방향 예측 발언은 없음. 투자 철학: 가장 중요한 지표는 PE·PB·베타보다 기업의 성장성(제품 지속성, 성장 속도). 장기 보유 원칙 강조. 종목 Sudarshan Chemicals: 1990년대 소량 매수 후 2014년까지 보유, 안료 산업의 구조적 변화 확인 후 재매수. 약 10배 수익 언급. 중국의 안료·화학 산업 경쟁력 약화 관찰 근거, 베이징 방문 경험 언급. 추천이 아닌 사례 설명. 특수화학 업종: 범용 화학이 아닌 특수화학에 긍정적 견해 유지. 베어링 업종: ABC Bearings 보유 언급. 과잉 설비 문제가 있었으나 Timken 인수 관련 기업 행위로 가치 재평가 기대. 인도 설비가동률 75% 상회로 민간 설비투자 재개 가능성 언급. 단, 현재 주가는 비싸다고 명시하며 추천 아님. 자동차 업종 회복 조짐 언급. 도박·투자 구분: 선물옵션 거래와 페니주식을 도박 성격으로 규정. 준비 없는 단기 매매 접근이 실패 원인. 자격·경험 없이 투자하지 말 것을 조언.
다듬은 글
well 2018 has been a herd of large gaps so far the Nifty is mildly higher but the pain has been seen in the broader markets the small cap in the middle cap indices they are down between 13 to around 20% but today we bring to you a master class with noted investor mr. Vijay Acadie mr. Vijay Correa by the way needs no introduction but is known for his bottom-up approach and is a noted 400 buggers like aegis logistics sara sanctuary as well as auto lotto the most recent ten bagging fact is Sudershan chemicals in the last four years thanks so much for joining in mr.
Qadir pleasure talking to you well let's start talking about the market right away then how are you reading current market sentiment sit on cash or go out there there are plenty of opportunities no I cannot go anywhere because I am 100% invested in this market and ever since I am in this market she lasts for 30 years more than 30 years there was not a single day when I was not 100% invested all right so I am fully invested and if you ask me that where do I see this market so let me tell you my approach to this market is a little different so either you are investing into a market or you are investing into a stock or you are investing into a company so actually I am not investing in this market nor I mean investing in the stocks actually I am investing in the companies right so if I'm investing in the companies then it doesn't matter to me whether we are in a bull market or we are in a bear market actually we that the truth is that we are into a stock market perhaps okay and unpredictability and unprecedent fluctuation is the is the rule of the game so you have to bear all these things so so I am invested in companies and I'm long-term investors I'm just sitting tight that's it absolutely sir you know you have been a noted investor you have got many multi backers obviously there would be hurdles on the way as well but what is the most important point you look at you know for us youngsters we're growing up we look at you know the PE Evy upon a beta talk about growth ROC for you which is the most important among all these ratios that we talk about now to me actually concept is very important forget about the bottom line forget about the top line what is the growth in the company the concept and the growth which is very important so me the most important factor in choosing an investment is actually the growth of that company whether the product will sustain in a in the due course and how fast a company can grow that is more important so I was looking at some of your holdings and in the recent past every sin disease so what would you Tommy ties bottom up or top down I should have said blending or both okay there are hardly hardly few companies listed in this space only four companies I think four or five companies are listed so and I think stock is also what I feel I may be wrong also mmm-hmm stock is also cheap okay and it's a blending of both as you asked okay all right so every sin - this is one stock where mr.
Qadir has increases take to a roughly around five percent approximately there are the important points I wanted to ask you is over the recent past you know if I just take a look at the last few years the sector leader is something that doesn't grab your attention Turley you look at maybe player number three player number four in a market case in point be a Sarah sanitaryware or maybe even in a dual Auto they were not leaders in the sector but they were big big multi baggers for you run us through the investment thesis there no it was very simple actually when I bought all these thoughts which you had mentioned just now ages and whatever a tool order and said as an interview the biggest advantage actually was in my favor with that market was actually pretty backed that time because we had just come out from that coma kind of situation of Katherine Pollock scam and all stocks were also very cheap at a throwaway price so all these talks were available at maybe a p of five or six and giving a dividend yield of around five six or seven percent and plus economy was also turning around yeah and same case was there with all these companies david also turning around so i got that advantage so that is why all this become a multi bagger okay alright you know the other space mister Cadia that everyone's talking about is the chemic space in the last couple of years and that's been getting a lot of attention I understand that you did a lot of ground research you visited China you saw how the industry was shaping up there and then you back Sudarshan chemicals which by the way I think it's a ten by the from the time you bought it tell us how does that go about how important is ground research now of course it is very important because if you are if you are if your stake is high then your this research should also be certainly high yeah so that time actually I was I was in China for some different reason we have some different venture so then I happened to meet somebody from the chemical industry and then I got to understand that China is losing the grip in pigments and this chemical field and all so that time I remember I visited Beijing also and I could see the pollution and all so that was a little bit groundwork I did but only thing why I zeroed in into a solution chemical because I was following this company for last many years may be love for lost 15-20 years so the my initial stock was bought in 1990 two or three is a very small quantity so which I held on to till 2014 and when I found that this structural change is happening in this pigment industry and then I bought Sudarshan chemicals and what about chemicals industry most team left of course I think specially speciality chemical not general commodity a kind of chemical and oil and pigments and although I think India is actually being going away I hate then China okay so still positive on the chemicals spacers what are you drinking specialty chemical space note that specialty chemical space is what mr.
Cadia is a bullish on the other space has been the auto space you already spoke about auto auto but even the bearings industry it's known that you have you know a couple of big stakes in ABC bearings as well which would be going in for a corporate action with the Timken how will it show you out there the auto space is turning around the industrial industry as well is looking quite well your take on the bearings industry on the whole I think there was excess capacity in bearing industries the hardly few listed players in India maybe five or six players and ABC when I bought that time it was cheap so now it is no more a cheap stock just because it is getting Marvel Timken industries so they will get a valuation of Timken so looking at the overall scenario now since as like people are talking that in there our average capacity utilization is crossing 75% of them so we believe that maybe going forward private capex will start kicking off so all these things will create a good demand for varying industry and Timken being the world leader in betting industry will certainly bring all those technology into India so certainly this company will also be benefited so it's not at all a recommendation the stock is very expensive yes just a discussion okay but positive outlook calendar for the babysittin yeah Kunal since it will become a team current company so tim convolution will be given so specialty chemical space is looking pretty interesting we have even the bearing space is looking pretty interesting as well well over the last few days mystic area I've noticed that there's a lot of debate on gambling in India I want to know whether or not mystic area is a are you a gambler and what's your take on this space on the whole I'm a great gambler I go to casino and I play my wife also likes to gamble so but we have set a limit that either when I will lose $100 or $200 that is my upper limit so that is why I call myself great gambler on gambling I remember one thing like now command is contemplating of legalizing gambling in India according to me government has already legalized gambling and what people are doing trading into future and option that is also a gambling only okay so what is gambling gambling is like something you are taking a chance okay without any qualification without any experience you are doing something to make money without any logic so that is taking a chance that is gambling but for a lot of those investors who have come in there they suddenly got hit what kind of mistakes are they making what kind of advice would you like to give some of these investors that are coming in there maybe you have a couple of teams as well that you have in mind that you could explain to them I will tell you one thing one acronym escape okay how can you scare from the failure in the market especially this is only for the newcomers and all we can't teach her we can't interact with Oh you know we're training the market of course the newcomers though they should remember their words keep and an escape east chance for easy yeah so what comes into the market they feel this is market making money in this market is very easy they don't need any education though they don't need any learnings or no experience is required just you pass you're become or your school and your university and you can make money so it's not an easy business okay it's a simple business but it's not an easy business so that is why I have children this very scape what's the acronym I mean if you could explain it was yeah I escaped in escape East change for easy it's not an easy business and see its chance for karate so that is the majority of the people want to become micro potty in a shortest possible time and overnight they want to become karate and that is why they are doing all other mistakes so and this is why they fail in the market and another word of skip is like later is a so there your approach your approach the market is wrong your approach to the market is like gambling you know that and market rewards you as per the perception if you think it's a gambling then and then it will prove a gamble for you and the last later of skip is P like PE so P stands for finished all that two reasons why people fail in this market the major reasons is this one one reason is that they indulge into trading approach your approach is of gambling yeah and another reason is your love for penny stocks you see the most of the wealth in this market has been destroyed by these two segments future and options and penny stocks so if you can escape from this escape then certainly I don't know whether you will make money abroad actually you will not fail in the market you will not leave the market you will not say later on that this market is a slaughter house so be aware you know if you don't have the right knowledge out there then you are telling our audience are there be careful if you want to play in the future than option space you should have the qualifications out there and even with regard to penny stocks well they look cheap but very be very very careful out there because that's where you can get hit the majority of the time
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