Vivek Gautam Portfolio


(Vivek Gautam) #141

Seems IRDA is quite conservative in calculating EV for Indian insurance cos when compared to other countries .Hence MOS is there. Quality of anchor investors is truly great.Has Howard marks also applied in it? Opp size is huge.Execution good.India last great frontier for Insurance cos so lot of FII interest world over.

Anyone thinking of buying on listing Icici Pru?


(Amar) #142

Hi Vivek, although I applied, just wondering between accumulating more ICICI Prulife or take position/accummulate Max Financials to eventually get a footholding in HDFC Life. Any thoughts on that…


(techno219) #143

Yes i did too, in share holder’s category. Whats your plan > exit on listing?


#144

Can you please explain this for lesser mortals like me?

I’ve also applied for the IPO. Will see how many shares gets allotted.


(Vivek Gautam) #145

I intend to hold for some time.


(Vivek Gautam) #146

EV(Embedded Value) is a criteria used for finding valuation of an Insurance co.Its defined by IRDA. Icici Pru EV is 3.4 vs 4.1 for MAX HDFC. Further IRDA is very stingy in computing EV for insurance co vs otehr cos in other nations as per informed csources. FOR EV exact meaning take the help of Google Baba

I intend to hold this quality stock .

The anchor investors are believed to have included Government Of Singapore, Nomura, Monetary Authority Of Singapore, National Pension Service Managed By Oaktree Capital Management LP, The Boeing Company Employee Retirement Plans Master Trust, Russell Emerging Markets Funds, Oaktree Emerging Markets, Pggm World Equity Ii BV and National Westminster Bank Plc as trustee of the Jupiter India Fund. The investors also included Goldman Sachs, Morgan Stanley, Copthall Mauritius Investment Limited, Integrated Core Strategies Asia Pte Ltd, as also DSP Blackrock, Chennai 2007, GMO Funds, HDFC Standard Life Insurance, Rochdale Emerging Markets, Legg Mason Western Asset Asian Enterprise Trust, Wasatch Global Opportunities Fund, as also various mutual fund schemes of Tata MF, Reliance MF, UTI MF, SBI MF, Birla Sunlife, L&T MF, IDFC MF, Kotak Mahindra MF, Sundaram Mutual Fund and Edelweiss Mutual Fund.

Read more at: http://www.moneycontrol.com/news/ipo-upcoming-issues/icici-pru-ipo-anchor-investors-get-rs-1635-cr-worth-shares_7468841.html?utm_source=ref_article

Incidentally Howard Marks the great investor and Co Chairman Oaktree capital has invested heavily as anchor investor.These are very high quality investors in for a long time.


(techno219) #147

Allotted 1 Lot of ICICI Prudential.


(Vivek Gautam) #148

Reposting my presentation on my investment journey and learning of nearly 20 years for the benefit of new investors and on request of few friends.

Hope VPers find it useful .

Any queries most welcome.

Investment Journey Learning & Thesis Sep 16.pdf (839.2 KB)


#149

Vivek,

Thanks a lot for sharing your investing journey. I have already read your previous presentation n number of times, its really very very helpful.

I am also able to get good insights from Hitesh’s Investment journey and other valuable members experience sharing from 2016 Goa meet. Thanks to all of you.

regards
Santhosh


(PKumar) #150

@Vivek_6954 very nice presentation Vivekji. I just had one query - How do you decide the amount to be put into in an opportunity ? Do you have any rule of thumbs or any pearls of wisdom for us ?
For a newcomer, this is the biggest grey area for me - dont know how much to put into one opportunity even if I know its a good deal.


(Vivek Gautam) #151

Thanks. It depends upon the no of stocks and your comfort level. If you want to have 10 or 15 stocks t then its 10% or 7% approx.

Allocation is as important as stock picking.

Alternatively you invest 3-4% of your portfolio and then let the stock do the rest.


(ffaizan) #152

@Vivek_6954 What is your view on Sonata. I mean are you happy to see the new promoters doing the right things which you initially intended. Are you still invested ?


(v4value) #153

Chance to add?
​ICICI Pru makes tepid debut, stock plunges over 5% from issue price


(techno219) #154

Yeah it is disappointing value, and a learning experience. All news channels, market expert and grey market indicates it will be 10 to 20 %.


(Vivek Gautam) #155

I am holding on to my allotment


#156

I’m holding on to allotment and have bought more today. It is a long term story not for listing day gains.


(techno219) #157

Yeah i understand, but how investors can trust on brand like icici. Small investors can some expectations on IPO listing in positive atleast.


(Vijayk) #158

From a customer point of view, ICICI is one of the worst among pvt banks. From an investor point of view, icici bank is one of the worst compared to other big pvt banks in terms of wealth creation!


(Finrahul9) #159

@hitesh2710
I was reading Warren buffet. I understood that the insurance business really helped buffet to do his other acquisitions , as the insurance business generally runs on negative working capital and is cash rich . So the insurance business was not much beneficial to the minority shareholders , but definitely was a gem for the owner.

My understanding is that icici bank is the major stakeholder of icicu pru. All ready they have got a 6000 crores approx of infusion, so in the Long run icici pru might or might not be good for minority shareholders , however should definitely work for ibank.

Discl: No interest and exposure in ipru .
Small invt in ibank


(v4value) #160

Why not add Vivekji? Same business cheaper by 10% :slight_smile: