Investing conclave 2017 returns and learning
2 stocks gave positive returns
+10%
+15
4 stocks zero percent returns
0%
0%
0%
0%
10 stocks negative returns
-5%
-20%
-15%
-35%
-45%
-10%
-20%
-80%
-50%
-50%
Overall return since June 17 is around minus 20%
Learning
Huge learning
Helped me a lot as an investor
Increased my understanding about valuations
Highly recommend this learning conclave
I made a virtual portfolio after attending Indian Investing Conclave June 2018
https://indianinvestingconclave.com/iic
13 stock ideas were presented
9 Stocks gave negative returns from June 18 till date
-30%
-35%
-20%
-15 %
-45 %
-50 %
-30 %
-20 %
-20 %
4 stocks gave positive returns
+35 %
+60 %
+100 %
+25 %
Overall return
Around Minus 3% return ( return may vary by +/- 5% depending on entry exit level)
Learning
Lots of lots of knowledge gained after attending this conclave
Every investor has very unique way of thinking and thought process
Diversification is very important
Concentrated portfolio can be very risky
Short term returns over 1 year can be delusive
Long term view is important
Regular review of investment thesis is important
And most important thing is regular follow up of stock idea is important and many investors (presenters)present it as a long term idea but if the environment/fundamentals changes then they exit /hold /sell stocks depending on margin of safety
As these all presenters are very intelligent investors
Also 1-2 stocks were technical bets
But more than 90% were fundamental picks
Also this is a very rough calculation and it’s not very accurate
I just took the price in June and today’s price and calculated a rough return
I am not disclosing the stock names as this is a public forum
And I think maintaining privacy is very crucial
Please consider this as just an retrospective exercise
As many investors (presenters)may have changed their positions and may have sold their stocks
Also 1-2 years is a very short term view
I am also preaparing a short note on fundamental learning from this enclave
All presenters are gems and worth listening to their presentations 100 times
Kindly also share recommended stocks.
Can’t share as this is a public forum and it might breach the privacy
As I am not fully aware of copyright issues
Then, what’s the point of just discussing the returns?
It’s a learning exercise
People study data in retrospective and prospective ways
No way is correct
That’s why in science 1000 studies are published and just one research is successful but students learn from 999 studies also
That’s why extensive reading is important
These investing workshops are the goldmines of knowledge and don’t attend it just to trade stocks
Please take it as a healthy exercise
Please share your note on learnings and take aways …that’s the only foolproof way
Will post the note soon
But the website mentions that
It also mentions that #### Legal Terms & Conditions of Use
So not sure if I can present the summary
Seniors please guide
You can share generic learning, not stock specific, but sector specific, don’t share any content directly.
Usually in these kind of conclaves most marquee investors share their new idea rather than their compunders or highest conviction and it forms only small(5-10%) of their portfolio plus they might have bought at prices much lower than price when idea is shared. Its best for understanding thought process and level of research they do.
Second that. No point in abstract discussion.
In all the presentations instructors discusses about the current valuation and they mention that it’s under /fairly/overly valued
Also they discuss about the
future growth
,price to earning
Industry
Competitor
Peers
Management
Risks
Opportunity and market size
So they paint a very good picture of the stick’s past present and future
So that we can take a informed decision
And most of the time they discuss a idea which is a good buy and currently under or fairly valued
Or they discuss a sector which will have a good future
So I don’t agree with your post in regards to Indian investing conclave
And possibly it may be true for other investing conferences
Even i wonder not sure why buffett said " Diversification is the protection against ignorance " and how foolish he was that he took risk of buying coca cola 25% of his portfolio that time he had only 5 companies in total. he just got lucy.
Major learning for me is - looking at the failed picks in ICC and other platforms - this industry seriously suffers from Expert problem.
In reality nobody knows anything.
True
Diversification is an advantage if stock plummets
Concentration is good if stock outperforms
That’s why I am closely following all stocks in IIC
I took a concentrated position in one of the IIC stock and it has given me huge returns
Most of the instructors here are having their own PMS or own advisory
So they will always want to present an idea which will give good returns so that they can attract the clients
And all instructors I found very geniune in their presentation and they always tell about the fair price in today’s environment
Excellent and superb IIC 2019 came to an end
Great initiative by Jatin
Great instructors (some old and some new and all were excellent )
Superb dissection of sectors and stocks
Must watch conclave
Cleared many misconceptions
Undstood fine details of valuations
—————————————————————————-
Coordinator and value investor
Jatin khemani
List of instructors
Ayush Mittal
Fund manager at mittal analytics Pvt Ltd (sebi registered pms fund)
Viraj Mehta
http://www.equirus.com/portfolio-management
Rohit chauhan
http://rccapitalmanagement.com/
Deepak shenoy
Satish kantheti
https://www.zenmoney.com/Static/About_us.aspx?id=15
Ashish kila
Gaurav sud
http://www.kanavcapital.com/contactus.html
Ravi dharamshi
Chetan falke
Samit vartak
http://sageoneinvestments.com/?page_id=142
Abhinav mansighka
Raunak onkar
Ppfas mutual fund
https://amc.ppfas.com/blog/author/raunak/
Jigar shah
Raja sekharan
Prabhakar kudwa
Stocks and sectors discussed in IIC 2019 were :
A Chemical sector stock
Good tailwind due to China shutdown
A merger stock
High quality
Digital media stock
Discounting by market
Free cash flow generating gas company
Sidecar investing stock with potential to grow exponentially
A infra stock
A pharma stock currently going down but good future
A bank
A undervalued nbfc
An airline stock
Another chemical sector stock
An exchange stock-possible future compounding machine
A tire stock compounding machine
A high PE stock
And an excellent presentation about how a high PE good stock can be a great compounding machine
And lastly a bucket of undervalued small cap stocks which could give good returns
—————————————————————————————————————
These stocks were just ideas by instructors and they suggested not to consider discussed stocks as a buy advice
But most of these ideas were good value buy and excellent businesses
——————————————————————————————————————-
I will soon make a summary of learning from IIC 17 ,18 and 19 (without going in stock specific details )
Please provide comparative learning from 2017,2018 and 2019 session. Yet to register and watch the recordings for 2019. Its a exhaustive list of stocks from last 3 years. Similar session has been conducted by TIA(Tamilnadu Investor association) which is more of one day event of 20 stocks by industry veterans…What i could see is same presenter from IIC doing it in TIA…Same stock and presentation.
My main learning from IIC 2017 AND 2018 is that experts would never discuss their high conviction ideas on any forum specially if they are running advisory or PMS.
You can gauge yourself by looking at negative returns in most of the cases
True
Usually they discuss a stock which they already hold in their PMS
So 90% of time the deal is not great
But 1-2 of 10 stocks are good
The advavantage is
How they analyse the business
How different people do different valuations
And get the knowledge from all instructors and then study these stocks to see if some juice is still left in the stocks
Some stocks have long term story
So in such stocks +- 10-20% valuation difference between their buy price and our buy price dosent make a difference
Also when market corrects opportunity may arise to add these stocks
This is mainly a learning forum and can’t be considered for buy and sell recommendations
One of the best presentation I feel was by Samit Vartak. They extreme details he went into explain a NBFC is brilliant. I am not buying the company that he mentioned but both liability and asset with extreme details. Samit looks for differentiating and operational advantages in the companies he invests, his presentation proved that.
