I am planning to organize the next larger scale meetup for Mumbai folks on May 12, 2018(Saturday) at KJ Somaiya Polytechnic, 2pm. As usual, this would have a nominal fee and invite only. This is NOT the registration link, this will be emailed when the poll is closed UPDATE: THe Poll is now closed. Please PM or email me if any queries. The registration link will be posted here if any slots available
Please vote on the following
We had the May-18 meetup at KJ Somaiya Polytechnic on May 12, 2018(Saturday). The meetup was open to past/present/future contributors of ideas, and hence not quite open to all.
@sukhlani presented a brief on the graphite electrodes industry and helped people understand the interplay between industries(lithium ion cells, electric cars, steel) and pet-coke. Also the concept of value added commodity and capacity cycles. Folks came away with a better understanding of the whole HEG/Graphite sector play, from someone who had riden the story. @amangoklani presented his learnings from the book â100 Baggersâ with some examples. Some discussion followed the subject of which companies could be felt to âdo goodâ Rahul Ramchandani explained his investment thesis on Edelweiss, with a caveat that we should not lose track of the core lending business, while tracking the AUM play. An interesting discussion followed on potentially eroding mutual fund moats(index fund competition) @ravish explained his thesis on PCR kit manufacturer Kilprest India, duly aided by Ravindra Bapat who is an industry veteran. The discussion centred around the industry economics attractiveness for MNC, and the possibly deep run away for the kits. Harsh Gupta discussed his thesis on Narayana Healthcare, with some unique takes on their remuneration, business model and social purpose. Amit Darji from Navsari joined us today to elaborate on his thesis with LT Foods. With his practical understanding of the business, he enriched our understanding of the rice sector. Discussion centred around value added mix, GST impact etc. @andy161161 presented some points from the 25th anniversary edition of the book âFinancial Shenanigansâ released in Mar-2018.
I am fairly new to value picker forum based out of Mumbai, and just realized this wonderful forumâŚI think i missed a quite a lot of not being part of this groupâŚbetter late than never.
Is there any formal process to join the group? My brief Profile
I am a credit analyst working with Indiaâs leading rating agency. Have total exp of 11 years covering various commodities sector.
Hi All,
The next meetup is planned tentatively for Aug 3rd week/4th week. Please use the poll to confirm the topics you are interested to discuss and also the participation type. If you indicate type 2/3, I would message you for further inputs. To clarify, those who vote for âattend onlyâ would receive an invite only if there are slots available after other categories
Attend only
Attend and help review/improve presentations
Attend and present stock discussion(15min+Q&A) or industry overview(25miN+Q&A)
0voters
What type of meetup do you suggest. Select the top 2 preferences
Stock specific themes
Thematic(AI/Reforms etc) with list of impacted stocks
Investing story(if >25% CAGR in last 3yrs)
Industry analysis(eg Pharma)
*Fraud/Corporate misadventures
0voters
The venue will be KJ Somaiya only like always from 2pm-6pm. If we do not have enough responses, a smaller scale invite only meetup would be done
Hi All, we will be meeting next weekend Sunday (Sept 2nd) at Somaiya. I will send out the invites shortly. by EMAIL with the registration link If you do not receive an invite, it is likely due to space issues.
I attended the yesterdayâs Meet, it was the first time I attended the same and it was actually a great experience as it helped in understanding several different viewpoints of looking at the same opportunity. Learning about otherâs mistakes in the markets from them in person is a big plus.
Kudos to Mitesh Gangar for an excellent presentation on GMDC which he prepared in a very short time. Amazing presentation by Sane about his learning from the market, really helps noobs like me. Story of Kitex told was mindblowing!
Thanks all to make it happen and I am definitely attending all the future ones!
The Sep-18 meetup held after a long time saw a turnout of ~100%, which is either a testimony to a bull market, or to the curation of the audience. Either ways, this was unprecedented. The turnout of 45 included attendance from Pune and Surat too. The agenda discussed was as follows
@amey153 discussed his analysis of Kitex Industries, and updated for recent observations from the annual report, and tried to cull out lessons learnt. Interesting points were triangulating private company performance with its listed peer, mean reversion, related party revenue routing and the risk of high customer concentration @Yogesh_s discussed lessons learnt from his investment journey, with errors of omission and of commission. The tale of Apple explained the risk of sizing TAM(Total Addressable Market), as also how investment approach evolve over time such as paying up for B2C stocks, keeping macro checks etc @jprasun discussed his investment thesis on CDSL, a seemingly simple play, but also explained on how to split its revenue streams into regulated annuity based/market linked unregulated etc. He presented the audience a case study on valuing it when estimates ranged between 20x-30x core earnings, which was not too far from reality. Discussions also went into the divergance from CFO to PAT due to an accounting rule @kashish24 explained his investment thesis on a SME player Sirca Paints(Disclosure: They have business with the company), which is a niche PU based B2B paints trader(it imports and resells), which is now pivoting to a manufacturing operation and eventual branded play. Many having analyzed the stock, discussions led around entry barriers, competition from Pidilite/Asian Paints, affordability, realism of Nepal/Sri Lanka plans, GST excuse for receivables decline, and the need for volume data to make inferences on pricing power etc. @mythace discussed the investment thesis of GMDC, a lignite manufacturer who is seeing good times due to the coal prices hike. Interesting points like renewable energy play, reserves replacement limit to valuation, customer coal allocation due to PSU policy, market response despite operational improvements etc was discussed. @paresh.sarjani1 discussed Shiv Keshav Cements. Key questions emerged around the ability of such a small company to fund 20MW solar plant along with the other capex, as also whether a small commodity player could survive and scaleup. Other themes were also on interest expense numbers(why lower)
I have also attached a PPT âGround Rulesâ to help first time prospective attendees better understand. Do ping me 1:1 if any queries. As always, the PPTs are shared subject to the usual disclaimer that any investment activity is at your own risk. Investment Lessons.pdf (320.1 KB) Investment Gone Wrong - Kitex Garments (1).pdf (2.7 MB)
Also, adding in new post due to the 10 user limit/post, an actively participating audience is the key, and besides @Yogesh_s and @amey153 who actively grilled the presentors like always, @Chinmayk@vinodh@Mayur_Jain@jatinderagarwal@smart_harsh and @prakashh1 were a few whom chipped in with their insights and views. Thanks to all
I especially went to Mumbai from Surat to attend this meetup and I wasnât disappointed at all. To hear such high quality presentations and discussions from experienced guys is goldmine for someone like me, whoâs just starting up.
Thanks @andy161161 for organising and all the presenters and all that participated in this high quality debate. I hope to upgrade my investing/business acumen and contribute in some form in the future. Thanks all.
