Our AIF completed 5 years yesterday
5 years back we were the biggest investors in the fund & contributed more than 50% of the initial corpus (talk about skin in the game)
We are launching our first international fund soon & we will write the biggest Cheque in the fund
Indian youth today
9.00 to 3.30 - gambling on Zerodha
3.30 - 4.30 - lunch and susu break
4.30 -11.30 gambling on Dream 11
Your dopamine receptors are getting fucked and you will end up a zombie. Quit gambling
Paytm & Zomato came on television and said that listed participants don’t understand unicorn’s
I’m sure they now understand the listed markets & it’s efficient and bloody brutal.
Fuck your metaverse and welcome to the real world!
#unicorns
#Metaverse
#web3
#IPO
All the SIP investors of the last 2-3 years are slowly going to shift to FD’s.
Bitter truth!
all the high PE investors are going to permanently quit the markets and forbid their next 3 generations from entering stock markets
Before you jump into the markets with your pot of savings. Please spend 2 minutes to read what our team has to say.
Take investment decisions carefully and not emotionally. Stock markets are raw brutal and like the animal kingdom, they don’t understand emotions
In 20 years one thing I’ve realised, never bet against the FII’s.
FII’s have sold and retail has bought. This retail will eventually sell lower and the FII’s will buy
and the retail via mutual fund is buying high PE and IPO’s. Those will crack
#fii
#MutualFund
#nifty
You pay 42% taxes on derivatives transactions (i.e if u make serious money)
FII’s pay zero taxes on their FII income.
The game is rigged in their favour and u still wanna play?
Suckers buy the first dip at the end of a bull market
Don’t be that sucker
This stock market is a bubble of epic proportions with froth and valuations unlike never before
The stock market crash is affecting less than 10% of the global population.
Inflation is affecting 90% of the world’s population who have very little savings & most of them aren’t even on Twitter.
votes matter and that’s why they will increase interest rates even if mkts crash
Indian rich should learn to treat hotel staff with respect.
Those guys usually are d most hardworking - 12 hour shifts, away from home, most Sunday’s & holidays working and perpetual chaos at work!
and yes they have to always smile no matter what!
#Dignityoflabor
#respect
You can’t become rich by buying a house in your 20’s
Stay in a rented apartment. Stay in a hostel or a kennel and invest like crazy
20’s is all about taking risks and mortgages kill your risk taking ability.
I bought my first house at 40
When were most of the NASDAQ ETF’s launched in India. Right at the peak.
Mutual fund sales team will launch whatever sells fastest, not what will make money for investors
Why are banks not doing well
Coz they are finding it difficult to raise deposits
Why r they finding it difficult to raise deposits?
Coz all the retail money is flowing to the stock markets
What’s the solution, RBI will have to raise interest rates
Asset inflation
Was at the Taj Delhi
2500 cover charges per person just to sit in the coffee shop (probably a first for any 5 star in the world)
and the coffee shop was full 😂🤣
Don’t even ask me for the room rental, I thought my travel agent had booked me in Taj exotica 😜
Red hot economy
We hit an incredible milestone today.
Of our total PMS AUM of 2250 crs more than 75% is the profits we have made for our clients
PMS AUM 2250 crs
Net capital in 561 crs
Profits Aequitas has made 1689 crs (75.1%)
These profits are net to our clients after fees.
#aequitas
Delhivery is daylight robbery
~38000 crs is mcap of Delhivery. This eventually loses 75% bare minimum
It’s Indian mutual funds providing exit to the global private equity players.
This after all the IPO’s have bombed so badly. There is more than meets the eye
#DelhiveryIPO
Never buy banks for their loan book growth.
Lending is the easiest part of banking, recovering the money is the tougher part.
#banknifty
#sbin
#FinancialServices
We had a fantastic 4 year bull market like never before
In This bull market, there was greed like never before
The correction or a bear market doesn’t get over in one week.
Citadel/ millennium & global hedge funds make a killing in the Indian derivatives markets
The India retail are the lambs getting slaughtered
This shit has to stop
With their super computers and 42% tax advantage, you just can’t win
You invested in stocks bcoz you were only earning 4% in fixed income
After you are down 50% on stocks you will move back to fixed income and earn back that 50% over the next 10 years.
It’s going to be a lost decade for many. It is going to happen
The country loves Narendra Modi.
Left, right or centre you can’t deny the fact that he has transformed our country.
We are lucky to be living in the right country at the right time under a great leader
Weren’t Asian Paints, Bajaj finance, dmart and the likes supposed to grow consistently at 30%
Earnings miss + PE derating is how u lose money in the markets
Major capital loses happen when people overpay for past growth!
History repeats
Want to see who the anchor investors and subscribers for Manyavaar and boat IPO are.
Maybe SEBI was right, fund managers should be forced to put their salaries in their own funds.
They play Roulette with public money
#ipo
#manyavar
#Boat
Some broker in Hyderabad commits a fraud.
SEBI instead of going after them and ensuring they go to jail punishes the rest of the country by introducing stringent rules
A whole generation was scarred by the Great Depression and a whole generation will get scarred when the crypto and startup bubble eventually bursts
This is a bubble of epic proportions!
Just came back from Vietnam. The 8% GDP growth isn’t surprising. The people are honest hardworking friendly & always smiling
Where we score over them is our focus on education
Contrast my trip to 🇫🇷 in Summer - Arrogant, entitled and lazy ppl
Asia > ROW.
Don’t read investment books written by any fund managers who doesn’t have a minimum 20 year track record of managing public money.
Buffett, Lynch, Bolton, Bogle, Dalio and others like them should be on your reading list
Anupam Rasayan has a profit of 50 crs and mcap of 5000 crs
you can create a portfolio of 15 stocks with each having more than 50 crs profit with their combined mcap less than 5000 crs.
Bull shit argument
If the markets/GDP has to do well, the banks have to do well.
Textiles were 25% of sensex in 1979, now they are zero.
Avg Indian has way more clothes than in 1979. Probably someone gave to same logic for textiles in 1979
#banknifty
#financials
#sellbanks
FII’s have been net buyers in the Indian markets for nearly ~29 out of 30 yrs.
Markets in that period have gone up 30x and they have made truck loads of money over that period
If they are net sellers now, then they know more than all those people who have just entered the mkts
I think d stock markets is now becoming a ticking socio-economic issue
I hear stories like this on a daily basis
One of my wife’s coding teacher who is an engineer by profession is quitting her job to get into full time investing
Things could end very badly for a lot of ppl
I’ll share 1 investing hack with u.
Run a screener where promoters own close to ~75% in the company.
Likely to be a well run company.
In most cases given a chance the promoters would own 100% of those companies but they can’t bcoz of SEBI regs
#investing
#aequitas
#smallcaps
If you ask people, are you ready for a 30-50% drawdown in your equity portfolio, most will say yes
but in reality most people can’t handle that. Stock markets are scarier than you think
Derivatives is now a serious disease in India and if we don’t stop it will have serious generational consequences
This has got to stop else a lot of middle class will end up losing years of savings in gambling
A lot of people mocked Modi when he visited all those countries after her first got elected
Today those visits are paying off. We have great relations with most countries and on my travels abroad I see a lot of respect for Indians (which wasn’t there before)
Proud of our leader
How to lose money quickly.
Give money to mutual fund managers who can then subscribe to overpriced IPO’s and QIP’s
#indiamart
QIP at 9500. Stock a year later at 5000
1991, 1999, 2007, 2017 (SME) &now 2021
IPO’s r a way of scamming retail investors and in a country of 1.4 bn we will always find enough suckers.
Then we say retail investors don’t come to the markets. Well they come, we loot them and then wait for the next batch a decade later
If you are a CA or an MBA with good acads & passionate about the stock markets, then please fwd ur resume. No experience reuired, we will teach you. Skill sets required - hard work, passion and INTEGRITY.
Careers
@aequitasindia
.in
Please share in your groups and friends
I just spoke at the ICAI’s national conference on capital markets and I said it there and I’ll say it here again
Some of the best stock pickers I have met in India are all CA’s
Do we even realise that with all our flaws India is a healthy and safe democracy.
We have never ever defaulted on our external loans (most developing nations have)
It’s time we feel gratitude, to have been born in such a beautiful country!
#RussianUkrainianWar
stress test results for small and mid caps are misleading
Volumes evaporate when markets correct and most names become unsellable
You can’t stress test on bull market volumes
#smallcap
#Midcap
Whirlpool Inc
Mcap - $ 6 bn PAT - 500 mn
Whirlpool India
Mcap - $ 2 bn PAT - 25 mn
India = 33% of global cap but only 5% of profits
No wonder the parent company want to cash out
I see a lot of guys make fun of Ramdeo Agarwal. He ought to be a hero
Honestly, he is a small town guy with no background about stock markets who came to d city & built a bn $ company (&one day probably a $10 bn)
Make 5% of what he does & then criticize. Till then STFU
The first phase of the bull market is over when everyone and every stock made money over the last 15 months.
From now on it’s going to be a stock pickers market. Time to separate the wheat from the chaff.
#aequitas
#smallcaps
#Multibaggers
#investing
This is not just bad news for Paytm but for the entire startup ecosystem
Byju’s and now Paytm.
There are more skeletons in the closet and as more skeletons come out, shareholders in those companies will become skeletons
Everyone trying to justify high PE multiples in India with the ‘growth argument’
but look at RBI crackdown on NBFC’s.
Corporate governance is an issue in India which is conveniently swept under the floor during bull markets
That reason itself warrants a low PE multiple
Option mania in India?
David Faber asks “There’s got to be some warnings about India too….85 BN options were purchased in India in 2023. This is 8 times the volume in US & with avg hold time of 30 min, that seems like a speculative bubble to me…”
Options riding on
#SIPs
?
We are fully invested, Our portfolio is on fire but RBI not raising rates scares the shit out of me
If you ignore the problem it becomes bigger and bigger and then it all comes crashing down!
#inflation
Gold prices hit 70k, up nearly 40% in the last 24 months
It is one of the best long term investments
A great hedge against inflation, currency and money printing
Markets always bottom on short covering and peak on leverage
The good news and bad news follows later
We are seeing the first signs of leverage unwinding in the country
A bull market sucks everyone in
and the biggest sucker is the one who stays in cash throughout the bull market and at the top of the market goes all in out of FOMO
Secret to making money in stocks
You can make a shit load of money just by going through all the announcements on BSE.
Those are facts, not someone’s opinion.
We do it every single day at Aequitas
#StockMarket
#investing
#ValueInvesting
#BSE
#nseindia
Finish your college!
Bill gates and Mark Zuckerberg are exceptions
98% of successful CEO’s/ entrepreneurs have a post grad degree
98% of people who drop out of college don’t become successful in life.
In investing and in life, play the probabilities
We enter the nervous nineties!
In 5 months from today we will complete 10 years of performance
Right now we are at 30.1% CAGR
The aim is to be 30% over 10 years but it takes only 2 wks of market fall to wipe out a couple of % points
We have toiled for this. Pls wish us luck
Was in Ahmedabad over the weekend. The city has been transformed and how. The Sabarmati riverfront is as beautiful as any water front in a European city
Just shows you the possibilities that lie within our country
Everyone is in the stock markets to make money for themselves
You don’t invest in the stock markets for desh Bhakti but for ur own selfish motives
Don’t confuse it with desh bhakti
& yes election results or no results, this market was over valued & how (small & mid caps)
Paid webinars/ classes are a red flag!
If they were so good, they would be making money in the markets not conducting paid classes.
Probably need the tuition fees for their livelihood
Go spend that money on some good books. The learnings will be 4 a lifetime
#webinar
Steel Mcap 5 Lac crore
EBITDA 1.6 lac crore
Cement Mcap 5L crs
EBITDA 40k crs
Cement operates as a cartel; steel industry operates in a free market
6 major steel players in the industry
35 companies in the cement industry
#cement
#steel
#Commodities
Indigo paints - don’t judge us on current PE, judge us on 4-5 years forward PE.
Last time I heard something similar was with RPower and DLF in 2007
#valuationsmatter
Two of the best small cap investors I think are Anil Kumar Goel and Girish Gulati.
I don’t personally know them but I know they are good when I see their names appearing in shareholding list of some really good companies
🎩’s off
Some of the steel companies are available at less than 2x next year PE and yet people want to buy 50x IPO’s
Tata steel BSL’s quarterly profit is more than that combined annual profit of all the forthcoming IPO’s and mcap is a fraction.
Let that sink in
Most family offices in India own HDFC bank and all of them have bought it in the last 4-5 years
This stock doesn’t bottom out till those guys don’t sell out
They made the wrong buy trade, markets will force them to complete the wrong sell trade
Low interest rates & lack of yields are pushing the Indian middle class into the markets.
These people survive on 6% FD’s. They are not used to 25% drawdowns & stocks do correct.
Let’s be honest, this is not a structural change in the Indian markets (I hope I’m wrong on this)
From 2001 to 2017, most domestic fund managers didn’t buy HDFC and HDFC bank bcoz they said it’s owned by the FII’s and what if they decide to sell.
Well 50-100x later, most fund managers are convinced about the stock and the FII’s are giving them all the stock they want!
Tata steel and JSW steel will be amongst the top 5 companies in the NIFTY in terms of profitability next year.
Haters will say they will never get the PE multiple 😀
Tata motors, tata power, tata chemicals, tata steel. Well they told you it’s kachra
They are all multi baggers. You are here to identify stocks which will do well in the future not to admire past performance.
#Multibaggers
#StockMarketindia
#investments
Starting today we will be bringing out a daily one pager - ‘Madness of the crowds’ where we will highlight irrationalities in the markets
Before you decide to act on our views, do remember John Maynard Keynes-
‘Markets can be irrational, for longer than you can stay solvent’
Some of the high PE investors (speculators) of this bull market are going to be the fixed deposit investors of the future
And they will go on telling people for the rest of their lives that share bazaar satta market hai 😂🤣😂
#aequitas
#investing
#trading
#nifty