저자: VijayKedia · 외국인
요약 보기
투자는 단순해야 하며 복잡한 데이터보다 제품의 장기 생존력과 경영진 자질(경험 15~20년, 큰 포부, 건강, 후계)을 본다. 과거 소형주 투자 경험을 언급하고 있으며, 현재 시장에서 IT 중소형주에 기회가 있을 수 있다고 본다. 특정 종목 추천은 하지 않는다고 명시.
다듬은 글
approach and I always set investing is also very simple it actually is but it is not easy because time try to make things complex I will give you one example I gave long back on some channel like to repeat that if you also me of course remember that is there and is there ok both are doing the same thing ok they are curing your world ok I did a long time back market share of dettol somewhere around 80% plus and sevlon is may be 15% plus is manufactured by and and savlon made by johnson & johnson both are world class so why the market of dettol could be more realised because when you apply at all it burns it gives you all right bad smell it gives you feel ok my god I am getting why it does not burn and does not give you any bad smell also so may be people thinking that is not Curing so this is [laughs] what is happening in our investing also if I give you a lot of complex data this happened that happened 50 data I will put in front of you that then you goal investor do not have that kind of capacity to understand your data okay it is better than you invest mutual funds okay and [laughs] your head in the market so my education on approach is also my approach is simple even now also yes see when you come into the market that time you can see small investor and new investor he looks for EPS is very fascinated about EPS what is the EPS and what is the PE ratio and all and when you grow trying then you look for the top line forget about the EPS EPS gross EPS comes down what is the top line of this company that is more fascinating Ratio you can call it and after that actually you are looking for what is the product is it innovative not it has mode ative not then work and not so this is what you international progression progression right so now days actually what I am thinking you said even now what I am thinking that can I be [laughs] a part of this company for 30 years and this is what actually now as I am asking myself would I be able to remain with this product with this company till I lift this is what I am educated I am trying to come to those terms when I have to think forget about this ROC ROE whatever all this would I would the product survive for 20 years not because of the year of this this disruption would the product survive for 15 years and 20 Years and 15 years and not if you don't survive keep on taking the market share in the company okay so small in size or medium in aspiration or medium in experience experience [sound of clearing throat] or and large in aspiration.
So the reason why you would think that you will survive the company for 20-30 years is that the company itself is large in aspiration so that it will keep on growing for that period of 15- 20- 25 years. Is that understanding correct? Yeah. It should second thing should be medium in experience. I Will Tell Because What Happens Like Let Us Divide Experience into Three Parts.
One is an experience of five seven years. Another Experience I Medium Experience 15 Years 20 Years 30 40 50 Generation Ever I Usually Do Not Invest In Any Company Which Has Small Experience Five Years and Seven Years and 10 Years Whatever I Have Done in the Past I Have Not Invested in Any Such Company Where They Have Small Experience Because My Idea Is This Until The Management and The Company Has Not Seen Two Three Ups and Down Cycles They Are Not Actually You Know You Can For Food Proof.
That's what we call about investors as well. Unless investors have seen two down sides, it's absolutely difficult to. If you haven't seen two three four market. If you haven't seen 2008, that means you're still late. Actually [laughs] you have to learn a lot of things if you're not through that trauma.
That means you have you are still immature what we diverse. You Know. So this is why I usually prefer a company which has an experience of 15-20 years. Because during time dev seen two three and down there and this is what we learn the most this is important and third is large aspiration this is varied aspiration is varied because usually what happens when a company transforms and migrates from small cap to small size to mid size mid size to large size somewhere down the lane when in the journey from small size to medium size.
May be after reaching medium size and before that. They might lose their aspiration. That is where their new acronym comes in this is the first time that you are using it change. Can you explain that because it's a part of this journey, right? Yes. So, why do they lose aspiration? Why this aspiration exists.
Because they lose that aspiration because of change. change cpenney company company crore crore market market share manager whatever you column oh my god you film what was the film what ho you what arrow hit management no no no no no no no no no no no no I done grace god it feels really really created something something created we must be selling product on Amazon platform but will feel [laughs] will start feeling like he has done something really wonder so that is a very dangerous thing when you are surrounded by discussions and all and jokes apart but I think it plays a significant role in your life that we are you surrounded with them [laughs] stands for actually health because by the time you come to this stage may be you are 50 plus 55 60 years old by the time may be your health is not actually supporting you your energy level is also which is very important in any manager and that energy level also Actually it comes down to maybe you are having some blood pressure, you are having diabetes because you have been struggling a lot and you did not get time to take care of yourself.
[nasal sound] so that help also play a significant role then may be your wife and your brother and your son they will tell you hey papa uncle enough is enough you are now sick you are now you are not keeping you know well take it slow a little bit ahead chota chalo aaaa so that's varied aspiration one so one needs to keep himself to come to that okay and third stands for hh now affects next generation because if you are suppose your energy level is also down and your health is also failing you and you are actually around 55 60 65 whatever [laughs] you need to have next generation also because in time may having children will not become as I had I would like to keep them 10 15 or next generation endable generation not just not having a son but what is the point having a son daughter and they are not into [laughs] trust and and this get access managements get access manages how does he small cap company and and really that 20 managements or before I because already because because whatever we have discussing company.
Company 2003 Company Neglected People We're Just About Infrastructure Company And And All So All These Companies Are Also Neglected So That Market Also Keeps This Opportunity It Is Not That You Are Smart Enough To Take The You Know Diamond From Everywhere It [laughs] Does Not Happen When Everybody Is Asleep That Is The Time For You That Is Your Opportunity So That Was A Time That Time Must Help Me To Noting All This Company.
Where is this opportunity right now, where in the market is neglecting this space and themes but you are finding some fair there because now the equity participation is so large. Both globally and locally interested into India. I would think that there are very few pockets which are neglected and are still good, right?
and Are You Still Finding Those Pockets. I don't think now stocks are not neglected all these stories I think there then surface public domain only idea thing is this if you ask me investing like still holdings I am still holding shares of course director I am holding time and whatever stocks 2014 they have also five years of got given and summers yawar ya or we are sharing so to this mic for because instead of this story nothing [laughs] how will generate alpha how it is able to generate the alpha marketing 11000 market whatever this going forward 2018 is going to be a because of the election election [laughs] so market I will step so this is my [laughs] actually to believe in the story to your story and to be true it seems the most important part is to be able to buy a large quantity and to have the patience to stay invest your story ins Okay you also became in a manner speaking and investor Atul was darga company inh you made size investment and you are almost in pseudopreneur role so now I am reversing the two you need a management which is size medium experience large inspiration and there are no sycophants and so on so fit the bill into all of this promoter let me tell you ask I am feelpreneurial because I wanted to summit may be I put it pick up the right like sobbing role good as a silent I am not looking to day looking after monthly it is like an investment button there but certainly I am not going good I am not happy about whatever is happening company then let me ask you what are you liking let me ask you this question in a different manner it winner has done for the next 10 years it change of course is that in two years your thoughts change in One year 6 you know my portfolio people know my portfolio because if it is more than 1% it is there in the share holding so I am I think that I am going to hold all the shares until I get idea shares like Karnataka Bank I time so for me so it is not the question of good bank it is a question concept whether you are your the idea is still there or not so I feel Karnataka Bank I feel that the situation the NPA situation is actually not coming to an end and it will continue may be for some more voters so that is why I held time because it was actually the same thing I do I don't I don't have any idea I can't but whatever I will do obviously the hour will be I don't I do not have any price target and I do not have any time target also that I am buying the shares for six months and one year that does not happen so I do not have all these targets either time or not price okay one last question vijay on the show ah do you ah have any preferences for any news sectors let me define new age I don't mean the business new daily for example age old business one and two businesses were listed but became a large sector on its own insurance has become a large sector on its own their clutch of others four years back specialty chemicals was one space suddenly flu of specialty chemical company's it became a large sector on its own anything separating discussion but where do you see that there might be a real opportunity something will come from this IT sector this new age IT sector they are going to give you surprise even in the current market scenario nifty is down 10% and all the small medium IT stocks are up by 50% 30 To 50% so something will suddenly go to happen there so wherever there is technology there is innovation there.
Are you looking for it company every company is different and its difficult which company business will goers. Actually I do not education system one year at a very low price now price much. Not recommending this stock. So I'm also looking for such an opportunity in technology right now. I don't have anything in my mind, greater this was enlightening. Thank you so much for taking the time out and speaking the same language.
Comments 0