James Portfolio - Views Invited

(James Sebastian) #21

@sta I think you misunderstood. Let me try to explain in detail both my exit decision making and actual process of exit.

Exit decision making: The time frame decision to exit varies based on in-depth study when a I entered in some scripts without full study or based on changes in business varies from case to case from few weeks to many months. I am improving on my entry decisions. At a point, I had 50 tracking stocks in PF (as recent as July 2017) and I exited most of them one by one.

Exit Process once decision done: After deciding if I need to exit (by evaluating if the thesis working or not) for a reasonable period, I take maximum a quarter to exit. During this period, I see anything contrary to my older view crops up and I reserve the right to change the decision :wink:

For eg: In my current exit list Deep Industries remains. I am waiting to clear temporary negatives due to ONGC order cancellation or waiting to see if any positive triggers forming.
Sintex Plastics is on possible exit list and in further study mode as so far it did not play out as I was expecting. I was on evaluation mode on Tata motors DVR as well and now I decided to continue holding as I can see business is turning around, though slower than I expected.

Hope this clarifies.

(1.5cr) #22

No you must give every investment time. I may go anywhere for one quarter to 3 years. But if there is a major change for eg. a govt law or a change in mgmt or any unfavourable event that could nullify the thesis substantially in my eyes then I would consider an exit. Point is I wouldnt hang on to something waiting for a chance to exit with minimal loss.

(James Sebastian) #23

PF as of yesterday. I could see I turn to green at the end of the month, only to go red as most PFs with small cap and Mid cap heavy done. During this period
I added more to high conviction ones.

Newly entered: PNB Housing, Nitin Spin, Prakash Industries, sunteck realities.
Exited very small position I had in DCM shriram.
Booked profit on certain scripts which had more than 25% profit by selling 20% of holding across the board when I could get my target price to have cash toadd on high conviction ones.
Tracking Positions (4.85% of total PF) in HAVELLS , EDELWEISS, HINDCOPPER, Pritika Auto, SYMPHONY, SHEMAROO


Views and suggestion invited.

(1.5cr) #24

Be careful with wholesale lenders as bond yields will hit nims. But long term Iā€™m a very strong believer in the Indian BFSI trend. Valuations at the moment just make me uncomfortable.