I generally don’t miss ET articles by Ashutosh Shyam. Pretty good analysis on individual stocks:
http://economictimes.indiatimes.com/etreporter/author-ashutosh-shyam-479235108.cms
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He also goes by the name Ashutosh R Shyam:
http://economictimes.indiatimes.com/etreporter/author-ashutosh-r-shyam-479234914.cms
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The Crisis of Market Fundamentalism - contradiction between social benefits and individual losses can no longer be ignored
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http://www.valueplays.net/wp-content/uploads/The-Best-of-Charlie-Munger-1994-2011.pdf
For the Charlie Munger buffs - a collection of articles
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Most of the attention around automation focuses on how factory robots and self-driving cars may fundamentally change our workforce, potentially eliminating millions of jobs. But AI that can handle knowledge-based, white-collar work are also becoming increasingly competent.
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Latest memo from Howard Marks on Expert Opinion - https://www.oaktreecapital.com/insights/howard-marks-memos
Eduring Principles of Value Investing - Charles Brandes.pdf (98.7 KB)
A nice read from another less known but very successful student of Benjamin Graham
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Another very easy to understand explanation on floats and moats by the Prof, No wonder eicher is so richly valued
https://dl.dropboxusercontent.com/u/28494399/Blog%20Links/Floats_and_Moats.pdf
Some links not directly related to investing, but great resources nonetheless…
Six part documentary of "Western Philosophy of Happiness”, inspired and hosted by Alain de Botton, based on his book The Consolations of Philosophy.
Socrates on Self Confidence ~ https://youtu.be/UVA8jX9KQcE?list=PL7857933243B7D31B
Epicurus on Happiness ~ https://youtu.be/4L3dLWwmDDw?list=PL7857933243B7D31B
Seneca on Anger ~ https://youtu.be/UA7cgIg4Lfs
Montaigne on Self-Esteem ~ https://youtu.be/gXo70px_tNo?list=PL7857933243B7D31B
Schopenhauer on Love ~ https://youtu.be/UtW3cLWAC3I?list=PL7857933243B7D31B
Nietzsche on Hardship ~ https://youtu.be/UbWAj2drGdE?list=PL7857933243B7D31B
The Path to Happiness and Enlightenment based of Eastern Philosophy ~3 day workshop covering various philosophical and practical aspects of Buddhism, Hinduism and Jainism by His Holiness Dalai Lama
Day 1 ~ https://youtu.be/g1KDq-qqAJA
Day 2 ~ https://youtu.be/4d8a_dpPP18
Day 3 ~ https://youtu.be/f5dJWixXJ48
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“Competition Is For Losers” by one of my fav entrepreneur Peter Thiel - https://www.youtube.com/watch?v=z6K8PZxyQfU . Was thinking of such businesses in India with great Monopoly and Durability.
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The Prof on dividend yield vs rental yield ( Nov 16 )
Howard Marks - What’s Your Game Plan?
“The key to investment success isn’t hitting home runs; it’s avoiding strikeouts and inning-ending double plays.”
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At Oaktree, on the other hand, we believe firmly that “if we avoid the losers, the winners will take care of themselves.”
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Charley’s article described the perceptive analysis of tennis contained in “Extraordinary Tennis for the Ordinary Tennis Player” by Dr. Simon Ramo, the “R” in TRW. Ramo pointed out that professional tennis is a “winner’s game,” in which the match goes to the player who’s able to hit the most winners: fast-paced, well-placed shots that his opponent can’t return. But the tennis the rest of us play is a “loser’s game,” with the match going to the player who hits the fewest losers. The winner just keeps the ball in play until the loser hits it into the net or off the court. In other words, in amateur tennis, points aren’t won; they’re lost. I recognized in Ramo’s loss-avoidance strategy the version of tennis I try to play.
Charley took Ramo’s idea a step further, applying it to investments. His views on market efficiency and the high cost of trading led him to conclude that the pursuit of winners is unlikely to pay off. Instead, you should try to avoid hitting losers. I found this view of investing absolutely compelling. I can’t remember saying, “Eureka; that’s the approach for me,” but the developments over the last three decades certainly suggest his article was an important source of my inspiration.
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Very Good Article !!
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Always intriguing to read George Soros - arguably the best macro person around.
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The leadership team at ING Netherlands had examined its business model and come to an interesting conclusion: their bank was no longer a financial services company, it was a technology company in the financial services business. The days of segmenting customers by channel were over. The days of push marketing were over. Thinking forward, they understood that winning companies would use technology to provide simple, attractive customer journeys across multiple channels. This was true for companies in the media business, the search business, most retail businesses, and it was certainly true for companies in the financial services business. Moreover, expectations for engaging customer interactions were not being set by banks – they were being set by media and search and retail companies. Banks had to meet these expectations just to stay in the online game.
Some of you might have seen this trend already but this article offered me a “I have never thought this way moment”. That every company is simply a technology company in their respective fields. Netflix, Uber, Amazon, Facebook(News Company), all are simply technology companies. Sooner or later this trend will start developing in India as well. This might have some serious implications on traditional IT services companies. And the barriers among different industries are simply disappearing. It seems in future, if you have technology and workforce to solve problems, you can enter into any industry.
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This is true.
This also means technology savvy private banks will have long runway and keep taking profitable retail market away from PSU banks.
Excellent read
WHAT DO CONSERVATIVE VALUE INVESTORS LOOK FOR IN RISK SEEKING ENTREPRENEURS?
By professor Bakshi
Thanks
Ashit
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