저자: VijayKedia · 외국인
요약 보기
개인투자자 Vijay Kedia가 2004~2005년 약 70루피에 매수한 Sarah Sanitary(Saregama 계열 표기 추정) 보유로 약 16,400배 수익을 얻었다고 회고. 2023년 8,300루피 매도. 중간에 여러 번 원금 이하로 하락했음에도 보유를 강조. 장기 보유, 경영진 정직성·욕구·스마트함 중시, 선물옵션 트레이딩 중단 등을 주장. 특정 종목에 대한 향후 가격 방향 예측은 없음.
다듬은 글
One innovation can change your ecosystem. One leader can change your country. One idea can change your world. One mentor can change your mindset. One listener can change your approach. One opportunity can change your career. One bull market can change your network and one stock or one share can change your life.
So I am here to discuss that what really changed my life. So one idea, one stock really changed my life and the name of the company is Sarah Sanitary which gave me a 16,000 plus times return not 16,000% 16,000 time. I bought the shares at 70 rupees uh way back in 2004 five around 2005 uh at say 70 rupees and from there it went up to 220 rupees so by 2008 so I was I had actually my money had gone up by three times or four times or something like that but I did not sell any shares and in 2008 Leman business crisis the stock price came down to 50 rupees that was gil by cost price so now you can understand and I had reasonable sum of my net worth at that point of time.
So maybe 20 or 25% of my net net worth of whatever money I had then I have put in this one stock. So it it was giving me three and four times return and then finally it is falling back to the below cost price and again after from 50 rupees then between 2008 and 2014 it went up to 500 rupees that 500 rupees it came down to 250 rupees.
So and then I get 250 rupees to by 2015 it had gone up to 1,500 rupees. Then again from 1,500 rupees it came down to 700 rupees. Then 700 rupees by 2018 and all went went uh went up to 4,000 rupees. Then during COVID it came down to 1,800 rupees. Then after it went up to 8,300 and in between company gave a bonus of 1 to1.
So that means it was 16,400 rupees for in in 1617 years company gave me a dividend. If I calculate on the 1 to1 bonus X bonus prices that it was before bonus 170 rupees but if I calculate bonus that dividend was 250 rupees. So just imagine a 70 rupee shares giving you 250 rupees as a dividend that means you are already multiply your money multiplying your money four times and it is better than the empty forget about the capital appreciation.
So I just calculated my cost as zero because of the 250 rupees or 230 40 or whatever dividend. So the cost my cost was zero and which I finally in 2023 I sold at 8,300 as I said that after 12 literally 16,400 but this journey was not so easy because as I told you that I had put a you know a huge sum of my whatever my net worth at that point of time in one stock.
So just try to understand that if a stock is going up four times and falling back before below your cost. So what kind of mindset uh what are you facing in this market? What what is going through your mind? So that is very important. Stock market is all about your mindset. I I always say that uh that your mental capacity is more important than your financial capacity.
So now I'm going to reach out some quotes some 15 16 codes I have written with this experience whatever experience I had in this uh in 15 16 years of journey and that I'm going to read out to you and explain it to you. What does it really mean? So my first quote is it is that invest like a bully, sit like a bear and walk like an eagle.
This is the mantra for long-term investing. So invest like a bull. What I mean to say that as I said that I had invested 20% of my corpus in one stock. So that was investing like a book. It could be it could be dangerous also. It is risky also. Stock market is risky business. So that is all right. But if you want to you know if you want to multiply you know if you want to multiplyation in growth then you have to your input should also be in that that manner.
So invest like a good and sit like a bear. It's a game of patience. So sit like a bear. This game of patience as I told you that I bought in 2004 5 and 2008 I did not sell again it fell down then in 14 I did not sell. So sit like a bear and watch like an eagle. So it it it does not mean that I was just sitting idle.
Every time I was watching the company, I was following all the news of the company. I was following the numbers. I was following all the developments uh taking place. I was also watching what this disruption is happening in in in India and in this particular sector. So I was every time I was I was aware it is not that I had just bought it and forgot it.
So I did not forgot. So I was sitting watching like an eagle. Second quote is chase the story behind the stock. Not money on the table. Money will make you rich but the story will make you wealthy. Now you can relate this quote with my investment. Chase the story behind the stock. Usually whatever nowadays people come to the market and they don't have patience.
They just want to make money. This person will media service media. I doubled my money. I will I I will just quit. Uh you know. So they are not following their story. So this is what I learned in my career of the 30 years plus that chase the story behind the stock not money on the table because sometime what happens maybe the biggest the biggest story you can miss just if suppose you have to make 100 rupees but if you are following the profit you may be satisfied in 10 rupees but you will you will realize the moment you add the stock the bigger story started from there to chase the story behind the stock not money on the table.
So there is a difference between being rich and being wealthy. So this is what I adopted in my life and I till it yet I am following the same principle. So it is regret is a lifestyle disease of investing kind. So it's very common like you buy the stock price uh stock price falls down. You you will have a regret you buy the stock price goes up you will have a regret that I should have bought more I should have I could have bought more quantity.
So all these kind of regrets will always be there. Now just imagine what would have happened to me like in 2008 I said that this 70 rupees stock went up to 225 rupees and from and that I had bought reasonable quantity of the company maybe 2% of the company something like that so it was not a small investment so 225 rupees stock falling back to 50 rupees so just imagine your five years of man your five years of dream are you know so this is what so I could have also had this regret.
Oh my god, I should have sold at 225 rupees. Now what I have done this if I had that kind of thing in my mind then I would not be able to hold to get 16,400 times times of return. So regrate is a lifestyle disease. It's a disease. Second thing is there second thing I have written one another quote Rome was not built in a day but Hiroshima and Nagasaki were destroyed in in a day.
So everybody is talking about that Rome was not built in a day. That is all right. But the flip side is in that you know Shiman Nagasaki will also destroy it. This is what I learned hardway in my life and that is why I stopped trading in this market. I stopped future and option because earlier as I said that is my 30 35 plus uh years of career.
I started with all this trading and all but finally I realized that whatever money I would make in investment I would lose in future. So few future trading FNO and all. So success rate in future is um merely 1%. So that is why in investment always remember that Rome was not built in a day and in trading always remember that Hiroshima and Nagasaki were destroyed in there.
And another quote is that quality of a good management. If somebody asked me that the one thing you look into a company before investing I would say that management and manage management should have three qualities. Honest, hungry and smart. So management has to be honest otherwise whatever profit they will make they can siphon out the money from the uh from that from the company and ultimately that market size will not be created or market cap will not be created u in stock market.
So they have to be honest and hungry. I always say that if a management does not have that hunger that today I suppose a regional company and from regional to I want to become national company and from national to I want to become an international company. today I have a 4% 5% market share of this part or my product maybe in five years now or 15 years from now or 10 years from now I will have I will double my market shares so that kind of hunger if management does not have investors cannot make money because if the size of the company will not grow we investors won't make money and smart of course because there are many ups and downs during that journey during investment journey like for example monetization came and covid came so that smartness a management should have that smartness to protect its company from all the all these things.
So that comes with experience. That is why I have said that I do not invest in any company which where management do not have an experience of 15 20 years. Yeah. So it goes and another quote I didn't your investment belongs to the market and your profit belongs to you. I never it never goes into my mind that okay my net worth like I said a sinner and interview it was 225 rupees maybe suppose if I had invested 1 lakh rupees for example that time maybe it was uh whatever four four lakhs or three lakhs or four four lakhs and four lakhs was at one point of time maybe 40 cr you know so that never goes into my mind that my worth is this much that is not my worth I said that your investment belongs to the market as long as you are holding the stock you are not selling the stock that money does not belong to you.
That money belongs to the market. So I never spent any money thinking that my DM statement is so big. So now I can afford to spend this much on some fashion or some branded things and all. I never did that. Another quote is there is large cap. Usually people talk that there are three caps in the market.
Large cap, midcap and small cap. This is how they categorize. So I written a code there is midcap there is large cap there is small cap there is one more cap which is bangar cap jungle cap and many shares majority of the shares are not majority many shares come into that category. So you should have that that intelligence to segregate them that okay these are the market and I will never never make money in this market because ultimately you are not going to make money whenever there is a boom in the market maybe those shares will appreciate but the moment market will come down you will lose your money those stocks will fall faster and another quote I realized that if a management has not performed well in their bad times in the past chances are they won't perform well in their good time in the future too it's simply he would like to say that management should have that that those things in their DNA you know like person who wins every time they have in their DNA they learn from their mistakes and they make their life in such a way that maybe sometime if you are getting 80 80% maybe marks suppose 80 out of 100 next time you get 60 so but if you have not performed in the past uh in a whenever the a simple formula is this whenever economy of the country is rising all the sector should do well.
If a sector is not is lagging behind is not doing well that means there is a problem. So maybe in the next offspring of the economy that company may not do well. Another quote is don't learn literature from a history teacher. This is what I learned very clearly in my mind. I never discuss a stock with the people who is not related to stock market who is not related to the investment uh investment business like uh uh like suppose uh so this is what one should remember in your career also you know that you don't learn literature from the history teacher English the uh if you know mathematics I will learn mathematics from you I will not ask or I will not learn history from no academic degree can get you success in a stock market this is what I realized over the years that no academic degree academic degree going to help you but it cannot guarantee you success into stock market.
If you are CA if you are MBA or you or you are an engineer or MIT pass or whatever you are but stock market is a different game. I always say that just because you are a started accountant or MBA or MIT graduate or whatever you are that does not mean that you can fly a plane to fly a plane you have to learn flying.
Same thing is applicable in the stock market. To learn investing, you have to learn to be in investing. To be successful in investing, you have to be in investing. You have to learn the nitty-gritty of stock market. There are two things which is playing simultaneously in stock market. Not every kind of market is there are internal factor, there are external factor.
Internal factor is very easy to understand like if you understand the balance sheet of the company, you know the economy of the country, you know, uh you you read about the management, not their balance, everything you know about that is internal factor. But external factoring is is in nobody control.
When monu is going to fail, when rupee is going to depreciate, when some foreign policy will change, when Trump will impose some tariff on your company, when Bangladesh war will take place, when Ukraine things will take place, all those things and there are so many so many things which are not under our control.
So I I will these are external factors. These are not beyond your control. So Gita also says the thing which are not under your control, don't worry about that. And another quote is read not only between the lines but also what is not written because that is my only job listening to what is this corporate all these managements and all the CEOs and CFOs of the company.
Now they come on television they come on everywhere they keep on giving their interview. So I this is how I get an idea after listening to them. So I try to try to understand what has not been said and I try to read between the line because they also have their reservations what they cannot disclose everything on a uh you know with their shareholders.
So and be active. Be selective. Be inactive. There are times when you have to be active. There are market life. There are times when you have to be active. There are times when you have to be selective. Don't keep on buying every now and then. Note that every stock every time you are going to hit essentially and there are time to be inactive.
Better to lose money in a good company rather than making money in a bad one. This is also very important. Better to lose money in a good company rather than making money in a in a bad company. Because suppose in a bad uh like uh in a bad company if you even if you make money just because of there is answering in the market you will that thing will always play in your mind.
So and next time you are going to do a a bigger mistake. So it is better to lose in a good company so that ultimately your policy does not change and you stick to a good policy. And the whole purpose of choosing to invest as a career is to let a management constantly be worried about his company and you let yourself sip wine.
But opposite happens usually what happens I talk to investors and all like they are holding 100 shares 200 500 shares but every time they're talking about what is going to happen this company what is going to happen in in India what Mr. Modi is going what kind of budget will Nirblas will you know will what policies will will be introduced so all these all these things as an investor you should not worried about all these things that's that is why he said that management has to be smart good management sail through all these all these things so investing is a blessed business so relax and enjoy your journey
and the desire to become a millionaire overriding the good cause of failures in the stock market is also very important Stock market is a business. So if you will treat it as a business, it will give you a return like a business. If you will treat it as a gamble, then it will give a gamble for you. So this is also very important like whenever we suppose we are we are going to if you want to do some business, you want to open a shop for example.
So you do a lot of homework that where should I buy the shop? How big should be the shop? What interior will cost? What kind of inventory I will have? What is the footfall in that area? How much I'm going to invest? What would be my interest cost? what would be my return on capital or what would be my return all these things no you have in mind and you do all these homework but whenever somebody come to the market they stop doing all the homework but whatever whoever will say something they will buy the shares and later on regret so that is why I written many song 18 20 songs I have written on to educate investor all those songs are on the Twitter or YouTube so uh I would request you if anybody would like to uh comment the stock market or uh want to make your career tell you the best thing you should read my quotes and my speeches and whatever my at least my songs.
So this is what the story of uh stock market and one song I will one four four lines I'm going to recite which is again like it is for education purpose thank you very
Comments 0