Great articles to read on the web

(rupaniamit) #296

My article Pay for Retirement with a Cup of Coffee and an Egg McMuffin! was published in Carolina based Saathee magazine. I wanted to share real stories of two self-made millionaires who amassed fortune by acquiring equity ownership in businesses and riding the joys of compounding. It shouldn’t take more than 10 minutes of your time. Hope you will like it.

This may be very simple and “nothing new” article for most of you in this forum, but my main goal is to spread awareness among small retail investors about power of compounding and equities as asset-class through which serious wealth can be generated over a long period of time. Thanks.

(babajimyguru) #297

A very nice read. Good concluding point here…"it’s not an IQ of genius but an iron stomach to withstand the market volatility and tons of patience to be the secret recipe for a successful investor. "

(Abhishek Basumallick) #298

Munger: If you just started reading annual reports at random, you wouldn’t learn as much. You have to have some body of theory in your head before you approach such a mass of data.

Buffett: That’s a very good point. Unless you have an investment framework from which you are coming at the report, it will be essentially gibberish. If you are fitting in what you see to find out whether it is in your circle of competency, and whether it’s interesting if it is within it, it becomes a terribly useful document. I’ve learned a lot over the years just reading annual reports. Aside from this general body of knowledge that we may have – this is our main source material in terms of making investments. We don’t buy that many securities. But among the securities we buy, we often have made our decisions just by reading annual reports – not by visiting management. We usually do that afterwards. And some reports have been terribly helpful to us.

Wonderful article -

(Dinesh Sairam) #299

Quite a long read (38 pages), but worth the time. Prof. Sanjay Bakshi on why you should not fall for silly anchors like the P/E or P/B.

“What happens when you don’t buy quality and what happens when you do?”


Thanks. Re read it after some time.

Following takes time to really absorb and apply.

"When we look at the future of businesses we look at riskiness as being sort of a go/no-go valve. In other words, if we think that we simply don’t know what’s going to happen in the future, that doesn’t mean it’s risky for everyone.

It means we don’t know – that it’s risky for us. It may not be risky for someone else who understands the business.However, in that case, we just give up. We don’t try to predict those things. We don’t say, “Well, we don’t know what’s going to happen.” Therefore, we’ll discount some cash flows that we don’t even know at 9% instead of 7%. That is not our way to approach it.

Once it passes a threshold test of being something about which we feel quite certain we tend to apply the same discount factor to everything. And we try to only buy businesses about which we’re quite certain.As for the capital asset pricing model type reasoning with its different rates of risk adjusted returns and the like, we tend to think of it – well, we don’t tend to think of it. We consider, it nonsense.But we think it’s also nonsense to get into situations – or to try and evaluate situations – where we don’t have any conviction to speak of as to what the future is going to look-like. I don’t think that you can compensate for that by having a higher discount rate and saying, “Well, it’s riskier. And I don’t really know what’s going to happen. Therefore, I’ll apply a higher discount rate.”

  • Warren Buffett

(Vinne123) #301

(Vinne123) #302

(Vinne123) #303


Articles by analyst / author, Ravi Ananthanarayan, focused on Metals and Mining, Pharma / Healthcare, FMCG and Sugar:

(Krishnaraj) #305

An article that come in from a friend, nice reading.

(bimalb) #306

Nice read.

But the best reason to save is to gain control over your time.
Everyone knows the tangible stuff money buys. The intangible stuff is harder to wrap your head around, but can be far more valuable and able to increase your happiness. Savings gives you options and flexibility, the ability to wait and the opportunity to pounce. It gives you time to think. Every bit of savings is like taking a point in the future that would have been owned by someone else and giving it back to yourself.

(phreak) #307

The Thucydides Trap - The inevitability of a rising power confronting a ruling power and its consequences in the context of US/China. This is from 2015 from Obama’s time but its even more relevant today if seen from this context. Short answer to “Is war inevitable?” is No but to “Is war possible?” is Yes and the base rate for peace is 4/16 recent encounters since the 16th century.

(Jaclyn) #308

If people thought that Bhagavad Gita is to be studied only after retirement or only teaches boring philosophy, time to listen to what Mr Ajay Piramal says through simple examples. And it can be followed by all VP’s.

Talk by PEL Chairman

(nr.adarsh) #309

Read this article on Zerodha - This might be relevant and helpful if you have had Short term capital gains.

(avneesh) #310

A great article about the power of convenience and how it is influencing humans.

Embracing inconvenience may sound odd, but we already do it without thinking of it as such. As if to mask the issue, we give other names to our inconvenient choices: We call them hobbies, avocations, callings, passions. These are the noninstrumental activities that help to define us. They reward us with character because they involve an encounter with meaningful resistance — with nature’s laws, with the limits of our own bodies — as in carving wood, melding raw ingredients, fixing a broken appliance, writing code, timing waves or facing the point when the runner’s legs and lungs begin to rebel against him.

(ashit) #311

Excellent wisdom on high PE and high growth stock by Bill Nygren


(unmesh) #312

An interesting article

(phreak) #313

Bit strange to be posting an article from ESPN Cricinfo here but these are some interesting numbers on how valuable prime-time entertainment is in a country like India. The growth in the Cricket rights amounts from 1999 to current is nothing short of phenomenal and it also shows why BCCI has such a clout over Cricket. Also interesting is how the cost per game for Indian Cricket and IPL stacks up against EPL and NFL.

(Bheeshma Sanghani, PhD) #314

Good article on dumb toothpaste ads

(Jaclyn) #315

@basumallick writes. :clap: