Kalpen Parekh @KalpenParekh Twitter profile

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Kalpen Parekh

@KalpenParekh

4 years

My global investor.

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Kalpen Parekh

@KalpenParekh

3 years

I went to the usual grocery store Prices shocked me Milk 🥛 ₹ 300 / litre Bread 🍞 ₹ 102 / pack Butter 🧈 ₹ 1100 / kg It isn’t a nightmare It’s 2031 It’s inflation Plan for it today, not in 2031

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Kalpen Parekh

@KalpenParekh

3 years

KBC contestant has a loan of 25 Lacs Reaches a stage where he wins 25 Lacs but the next wrong answer means he loses most of it Since unsure of his next answer, he quits Great lesson in personal finance If goal is met, don’t take unknown risks

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Kalpen Parekh

@KalpenParekh

4 years

It takes 20 years to build wealth It takes 25 years to know It takes 20 years to build wealth

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Kalpen Parekh

@KalpenParekh

3 years

I redeemed some units purchased in 1998 - 2005 - 2013 - 2016 to buy a home finally Mere liye - Mutual Fund Sahi hai

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Kalpen Parekh

@KalpenParekh

4 years

Jains wear their own mask while praying - seeing every one wearing masks, my 97 year granny asks me - has every one adapted Jainism :) ! At an age - elders become kids

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Kalpen Parekh

@KalpenParekh

4 years

One of our oldest fund crossed 24 years - earned around 20% cagr However No of investors who stayed these 24 years is less than 24

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Kalpen Parekh

@KalpenParekh

3 months

Stop SIP Instead do these stocks every month Friends were excited when I said this at start of dinner meeting Very disappointed when I ended saying these are all in one single small cap fund with 17 years history good long term investing isn’t great topic in dinner meetings

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Kalpen Parekh

@KalpenParekh

3 years

10 richest men on earth No 1 to 9 : owners of Business No 10 : investor in owners of business

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Kalpen Parekh

@KalpenParekh

4 years

My son started investing at age of 9 He started when nifty was 9k, 10k.....15k and again at 8k, 9k, 10k last year and now at 15k Actually, he didn’t do it His SIP in DSP fund did it for him When he is 48.....nifty will not be at 15k.

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Kalpen Parekh

@KalpenParekh

4 years

26 years have gone and yet I get dreams of engineering exam tomorrow and being unprepared.

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Kalpen Parekh

@KalpenParekh

6 years

A small entrepreneur on why he doesn't take any debt I work for 220 days in a year Debt would work on all 365 days including holidays - hence I rather avoid

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Kalpen Parekh

@KalpenParekh

8 months

12% compounding in 30 years will make 1₹ grow to 30₹ We like WB, his style of investing, his stocks & 19% cagr Rarely his time horizon of 75 Y 19% - unlikely 12% over 75 Y will make 1₹ grow to 4900₹ 1 cr = 4900 cr Only 23 investors stayed in our flexi cap fund over 27Y

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Kalpen Parekh

@KalpenParekh

3 years

Why is a 3 % fall after a 130 % rise from lows called Black Friday?

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Kalpen Parekh

@KalpenParekh

4 years

There are 129,864,880 Books in the world There are ~ 10,00,000 Movies in the world There are ~ 6,30,000 stocks in the world There are ~ 100000 MF schemes in the world How many can we read, watch, own, invest in? Selection is difficult, elimination easy

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Kalpen Parekh

@KalpenParekh

3 years

Nifty journey in hits and misses 1990 to 1992 : 340 % 1992 to 2003 : 0% 2003 to 2008 : 600% 2008 to 2013 : 0% 2013 to 2021 : 200 % The path decides the belief in the asset class It will rise and fall and rise 1990 to 2021 : 6000%

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Kalpen Parekh

@KalpenParekh

4 years

Nifty was 6300 when I was 35 & same when I turned 41 It was slightly higher (8k) when I aged to 47 I am 48 today and it’s raced to 15k That’s the nature of this beast Fluctuate always & rise eventually but never linear Accept this reality - else equities will disappoint us

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Kalpen Parekh

@KalpenParekh

3 years

It took a 10 to 20% fall in stock prices for a neighbour to message after ages Can we talk, need inputs, market seems volatile.

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Kalpen Parekh

@KalpenParekh

5 years

Don Bradman averaged 99.9 runs inspite of just hitting 6 sixes in his entire career Not getting out & staying in the game needs good companies rather than fast stock prices Difference between amateur & wise investors is in what they seek and how realistic they are

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Kalpen Parekh

@KalpenParekh

4 years

Station to home 1) Auto 2) Bus 3) Walk I remember all our Parents would choose option 3 as means to save every rupee and justify saying it’s healthy to walk It is such hard earned money that we are managing

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Kalpen Parekh

@KalpenParekh

3 years

I learnt this today 95% of cars sold in India are priced below 15 Lacs

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Kalpen Parekh

@KalpenParekh

3 years

Attended a Clubhouse session where someone said index funds are safe hence once should move out of equity funds to invest in index funds I came back to my house from that clubhouse Access to speakers isn’t access to knowledge

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Kalpen Parekh

@KalpenParekh

4 years

Normally, There are 44000 flights daily all over the world. We don’t take every flight that takes off. Likewise - we can’t invest in every stock that’s rising at any point of time.

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Kalpen Parekh

@KalpenParekh

4 years

Sip in an index fund for 40 years & you have high chances of being a top decile investor Easy but hurts our ego hence very difficult to do it @morganhousel

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Kalpen Parekh

@KalpenParekh

6 years

The budget analysis I liked the most for its honesty

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Kalpen Parekh

@KalpenParekh

5 years

Framing is so important - rec'd on FB!

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Kalpen Parekh

@KalpenParekh

3 years

Decade of 2001 to 2010 Nifty 500 🇮🇳 : up 563% S & P 500 🇺🇸 : up just 10% (1% pa) Conclusion : When india is growing, why invest anywhere else Next decade (2011 to 2020) Nifty 500 🇮🇳 : up 161 % S & P 500 🇺🇸 : up 500% Conclusion : diversify globally Investing isn’t easy

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Kalpen Parekh

@KalpenParekh

4 years

At 15 PE - read Warren Buffett At 30 PE - read Taleb

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Kalpen Parekh

@KalpenParekh

3 years

I wish the correction in tech stocks continues globally - a generational opportunity to invest for the next decade for many like me who missed the trend

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Kalpen Parekh

@KalpenParekh

3 years

Hanuman Road is the street next to my home in Vile Parle It has many small cafes & restaurants Every 6 months a new cafe opens and goes out of business within a year to be replaced by a new cafe There is just one frugal tea shop which has been around for 20 years

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Kalpen Parekh

@KalpenParekh

5 years

I wish I had invested a lot in 2003! We may feel the same for 2019; not today but in 2035

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Kalpen Parekh

@KalpenParekh

4 years

A birthday SIP is a great way to make investing personal and life long. Someone explains it without a jargon, unlike me.

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Kalpen Parekh

@KalpenParekh

4 years

When we meet any global investor, a very important question each one of them ask us is : Do you invest your own money in your fund that you are recommending to us ?

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Kalpen Parekh

@KalpenParekh

5 years

Met someone who earned 17% cagr for 18 years One main reason He stayed invested for 18 years One main reason Invested and then went out of the country - worked in core industry not in anything related to Markets & didn't speak to me in these 18 years on investing

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Kalpen Parekh

@KalpenParekh

4 years

Person of the year : who kept his calm in March Process of the Year : SIP that didn’t give up Formula of the year : Asset Allocation that stuck to its rules of buy low and sell high Tweet of the year - isko like karo :) if you agree with it

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Kalpen Parekh

@KalpenParekh

3 years

It’s a bull market when we read about buy and hold forever It’s a bear market when we read about asset allocation and rebalancing

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Kalpen Parekh

@KalpenParekh

2 years

Go wrong for few quarters to go right for a decade

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Kalpen Parekh

@KalpenParekh

3 years

Invest in Lacs - redeem in crores Possible only with these ingredients Good businesses (stocks or funds) Time ⌛️In decades

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Kalpen Parekh

@KalpenParekh

4 years

My age today is at lifetime high

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Kalpen Parekh

@KalpenParekh

6 years

He looked like Azim Premji sitting in the next row in Indigo flight to Bangalore He was Azim Premji

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Kalpen Parekh

@KalpenParekh

4 years

A beautiful lesson my son’s teacher taught me today His results in two subjects were poor Sir called for a meeting He said : it’s not you who hasn’t done well, it’s me. Tell me how can I help you improve your score

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Kalpen Parekh

@KalpenParekh

3 years

With such a choice, do you look in or out?

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Kalpen Parekh

@KalpenParekh

3 years

Shower - cold water Drink - warm water Wisdom of the old

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Kalpen Parekh

@KalpenParekh

4 years

A hard hitting what’s app message Many say : Masks are uncomfortable More than Ventilator?

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Kalpen Parekh

@KalpenParekh

4 years

I see watchmen, maids, drivers etc take their small salary and touch it to their forehead. Money & work is worship for them and such a big necessity for their families. A lesson in respecting your work.

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Kalpen Parekh

@KalpenParekh

3 years

My first card and first real job after campus

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Kalpen Parekh

@KalpenParekh

4 years

Can visiting cards convey what we do? : Compounding All of us at DSP MF use these cards. & many of our distributors and advisors too. Been a year since I last used one.

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Kalpen Parekh

@KalpenParekh

4 years

Concept of savings I learnt from my granny.

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Kalpen Parekh

@KalpenParekh

3 years

Test for vitamins : 2000 ₹ Injection for vitamin d3 : 200 ₹ Dad : we vegetarians are generally low on vitamins, don’t spend money on test, take an injection every year

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Kalpen Parekh

@KalpenParekh

5 years

In 2003 - we got Prices of 1998 In 2009 sharp correction - we got 2006 prices 2008 prices were crossed in 2013 In 2020 we are getting 2017 prices Investing always is two steps ahead - one step behind!

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Kalpen Parekh

@KalpenParekh

3 years

To buy a home, it took me a min to redeem few debt & equity funds Have a small flat in Mumbai to sell too - trying since 4 months MF is not just about returns but many other benefits like transparency/ real time liquidity / ease of buying & selling / tax efficiency

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Kalpen Parekh

@KalpenParekh

5 years

Education degree takes 20 years Home loan repayment takes 20 years To start earning income in life since birth takes 20 years Investing ke returns we need in 20 months #behaviourof99pcthatnevermakewealth

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Kalpen Parekh

@KalpenParekh

4 years

Our discussion on inflation @amitgrover2002 @dspmf

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Kalpen Parekh

@KalpenParekh

5 years

We have a fund that's multi bagger 51 times Not more than 51 investors however got 51 times To earn 51 times, we needed 1) 22 years wait 2) Many years in between with sharp 20 to 50 pc temporary NAV drops

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Kalpen Parekh

@KalpenParekh

2 years

When you work on filing statements for tax - you realise I wish I had limited bank accounts and investments and transactions Activity is the enemy

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Kalpen Parekh

@KalpenParekh

4 years

Last 5 year returns of nifty in cagr In March 2020 : - 2 % In Nov 2020 : +11% Our Opinion of an asset class changes depending on what our experience is Not what the asset class is

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Kalpen Parekh

@KalpenParekh

7 years

Every few years Markets correct Behaviour doesn't

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Kalpen Parekh

@KalpenParekh

5 years

1980s - wish our parents had invested a lot more of savings in Equity & held on, if invested - would have done lot of compouding by now 2050s - our kids may say the same for us

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Kalpen Parekh

@KalpenParekh

3 years

Brake : debt funds Seat belt : Gold funds Accelerator : equity funds All work at different times

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Kalpen Parekh

@KalpenParekh

4 years

When Sehwag after a lean patch of 15 matches asked Sachin at the crease - runs nahi ban rahe hai The God said - your parents are watching you on TV. Just show your face for an hour2 them He respected his wicket. Runs flowed. Likewise - just last in investing. Returns will flow

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Kalpen Parekh

@KalpenParekh

5 years

After 8 decades he says no one knows - either he is lying or we are :)

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Kalpen Parekh

@KalpenParekh

5 years

Notes to self 30 PE - read Taleb 15 PE - read Buffett

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Kalpen Parekh

@KalpenParekh

1 year

Annually, 38% of times, debt funds earn more than equity funds 46% of times Gold does better than stocks 39% of times global stocks earn more than 🇮🇳 stocks However, over 25 years Nifty has earned more than all So….

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Kalpen Parekh

@KalpenParekh

3 years

A friend has an informal PMS with a CA Showing off his stocks on the app Portfolio return 23% I showed him 👇 Nifty Return in same period 24% Elss fund return 26% Asked me Should I switch all to elss Nothing can influence investing decisions faster than past best returns

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Kalpen Parekh

@KalpenParekh

4 years

Sensex crashes 1000 points Or Sensex is down just 2% after rising almost 90%

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Kalpen Parekh

@KalpenParekh

5 years

Had referred a friend to an advisor for managing his money that's lying in savings account for 5 years Still not invested to negotiate on cost of advise (may be 0.5%) What he lost in so many years of excess returns over savings Classic case of Focus on cost not on benefits

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Kalpen Parekh

@KalpenParekh

4 years

First job, seeing salary of 8000/- i was happy I would be able to buy few ties - what I was crazy about Today, don’t feel like wearing ties as much. Everything fluctuates.

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Kalpen Parekh

@KalpenParekh

7 years

My new visiting card !

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Kalpen Parekh

@KalpenParekh

5 years

A fund of small 🧢 s

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Kalpen Parekh

@KalpenParekh

5 years

Met a 55 yr (young) IFA Asked him a cliched ? - whats yr view on slowdown/today s GDP number He said - for 20 yrs - I do 3 meetings/day, meet old clients & clients referred by them - advise them honestly - show worst returns over 5 yrs & let them choose asset class 550 cr AUM

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Kalpen Parekh

@KalpenParekh

6 years

Ten year challenge is to stay invested for ten years

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Kalpen Parekh

@KalpenParekh

5 years

Find the source of long term wealth creation in this picture

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Kalpen Parekh

@KalpenParekh

3 years

I purchased my 1st units of a Mutual Fund in 1998. A college senior who worked in An MF made me start. Since then, I had good as well as bad returns a/c schemes. Yet, not a month of break in this journey. What seemed inconsequential in 1998 is meaningful today Compounding.

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Kalpen Parekh

@KalpenParekh

3 years

In the game of 🐍 & 🪜, there are 3 snakes 🐍 between 90 to 100 that take you down all the way It is important to be lucky & careful at higher numbers True for valuations too in such high bands Large corrections or poor returns happen from such high levels of valuations

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Kalpen Parekh

@KalpenParekh

3 years

The hare The tortoise

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Kalpen Parekh

@KalpenParekh

4 years

Don’t copy

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Kalpen Parekh

@KalpenParekh

5 years

My simplistic investment framework (won't sound intelligent) When Interest Rates r 6 - 7 Savings Funds 7 - 8 Short Term Fund 8 - 9 Bond funds When Valuations(PE) r 10 - 15 Mid Cap 15 - 20 Multi Cap/Equity & Bond Funds 20 + Dynamic Asset Allocation Gold + US funds : tactical

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Kalpen Parekh

@KalpenParekh

3 years

What is your longest held MF Investment tenor? Mine is an investment done 16 years back in an equity fund The oldest debt fund investment was since 1998 to 2016 : almost 18 years

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Kalpen Parekh

@KalpenParekh

4 years

My mistakes 2000 - got carried away in stories to invest in tech funds ❌ 2008 - didn’t invest in any Infra stories✅ Took advantage of correction to add at 10k sensex✅ Panicked at 9k and sold❌❌ 2020 - added only 7% at lows ❌ -didn’t panic to exit the 50% I hv in Equity ✅

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Kalpen Parekh

@KalpenParekh

3 years

An athlete’s 2 min performance gives us infinite joy, pride & honour Behind these few minutes of today’s performance lies decades of practice and struggle

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Kalpen Parekh

@KalpenParekh

6 years

We Wait to Invest Instead Invest & then Wait

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Kalpen Parekh

@KalpenParekh

4 years

A brilliant point by @contrarianEPS If in a long term journey of an index from 100 to 50000, it’s clear the asset class makes money If we don’t, the problem isn’t the asset class

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Kalpen Parekh

@KalpenParekh

4 years

What does consolidation look like? Across industries Read more :

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Kalpen Parekh

@KalpenParekh

3 years

My best investment was in 1999 - which fell by 80 % within a year. Technology Fund IPO at ₹10 that fell till ₹ 2. Learnt that equity can lose money too very very early and very fast.

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Kalpen Parekh

@KalpenParekh

3 years

The time to think of a concept is when it is not present Inflation Source : Bits & Pieces, CLSA

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Kalpen Parekh

@KalpenParekh

6 years

Income is one day a month Expenses are 30 days of month That's why - give decades to investments

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Kalpen Parekh

@KalpenParekh

4 years

Large cap or small cap - filter is market cap (not about good cos) Direct or advisor - filter is cost (not about value add) Stocks or Funds - filter is faith (not abt skills) Value or growth - filter is label (not abt quality of biz) Galat sawal - galat jawab.

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Kalpen Parekh

@KalpenParekh

5 years

When I asked my colleague Vinit in reaction to market action today - this is what he told me !

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Kalpen Parekh

@KalpenParekh

3 years

FD returns attract higher income tax & don’t have benefits of indexation Debt funds investing in similar FDs and Bonds have lower income tax rates as well as benefits of indexation Similar gross returns Different post tax returns

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Kalpen Parekh

@KalpenParekh

3 years

From March 2020 lows, absolute returns from India 🇮🇳 : 132% Nasdaq : 114% USA 🇺🇸 : 81% World 🌎: 74%

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Kalpen Parekh

@KalpenParekh

7 years

Journey of an equity funds - laced with many years of no returns - real character of investor is tested in such times

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Kalpen Parekh

@KalpenParekh

4 years

Split your 100 rupees equally with 4 friends 🇮🇳 Equity 🇺🇸/ Nasdaq companies 🇮🇳 bonds ✨Gold Slightly lower returns than stocks & much smoother journey

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Kalpen Parekh

@KalpenParekh

3 years

Semiconductor shortages became part of conversation since a year back Since then TSMC stock is down 11% Narratives get priced in faster than our investing decisions

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Kalpen Parekh

@KalpenParekh

4 years

None of @morganhousel ideas can be implemented They are too simple for our complex mind and ego

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Kalpen Parekh

@KalpenParekh

2 years

Happy to meet a MFD and investor who is one out of the 26 investors who have stayed invested in our Flexi Cap through its 25 years journey Mitesh Chafadkar

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Kalpen Parekh

@KalpenParekh

7 years

When we Rest , Returns Are Active When we are Active, Returns will Rest

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Kalpen Parekh

@KalpenParekh

3 years

If I could stop a long investor from not redeeming in once in a decade bear market year like 2020, I have created permanent alpha for him - a good advisor today

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Kalpen Parekh

@KalpenParekh

3 years

Nifty 50 means the largest 50 companies However, the weights to stock no 41 to 50 all put together total just 6% So if they do well, it doesn’t add much to nifty returns On the other hand, their weights are taken by the top 10 cos ~ 57% of the entire nifty

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Kalpen Parekh

@KalpenParekh

4 years

20 years back - one of my earliest bosses told this to us. Learn - you will eventually earn Be useful - via your work not so much by titles Focus on growing your EPS - don’t worry about PE - that’s markets job Over time - I realised that was also value investing

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Kalpen Parekh

@KalpenParekh

2 years

On a menu card Me and wife look at the right side first Son at the left

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