Thank you so much Hiteshbhai for the valuable guidance as always. Got motivated to study technicals from your post .
1 Like
Sir,
It may be worth your while to check out Apcotex - post Omnova purchase in 2016
Love to hear your comments
1 Like
Hi Hitesh, can you pls advise between VIP and Safari? VIP market cap is growing fast , can that help choose between both the companies
1 Like
Hitesh bhai, I would like to know your views on Kaya ltd. as it seems to be managed by good promoters and with good business model, no debt on books and currently ruling price looks attractive to me.
As you are from the same field (Derm) your views on this one matters a lot more !!
2 Likes
True renaissance technology has compounded wealth by 70% cagr over astounding 20 years
Fundamental guys can never come close to 70% return continuously for 20 years
This fund is the best fund ever
From 1994 through mid-2014 it averaged a 71.8% annual return.[
3 Likes
I dont track Kaya too closely but feel the much awaited shift from unorganised to organised in the field of cosmetic dermatology is not coming soon. Here the patient is more comfortable with the doctor who is treating him/her even for procedures. Kaya people wherever I have seen have not been able to match the private doctors in services or even in inspiring confidence about treatment procedures among patients.
Even numbers dont inspire too much confidence. Topline has been stuck in a range of 400 crores since 3 years and profits are still awaited at net level as company keeps posting losses.
7 Likes
@anikum I dont track either of the two companies viz VIP or safari.
@ausking I had a look at apcotex inds and seems a good company. Would need to work more on it to get a better idea.
1 Like
Sir do you track “Polycab india”?? Everything seems good for long term.
1 Like
Renaissance Technologies is formed by Mathematician James Simons and he assembled scientists, PHDs and also work on proprietary algorithms inaccessible to others.
Even after huge fees his funds continue to do well
Also he learnt his lessons from downfall of LTCM.
1 Like
@hitesh2710 Hitesh sir, wanted to get your thoughts on PNB Housing Finance and its recent meltdown to INR 780 range. Its relatively stable stock (not an outright outperformed but has decent financials). It has decreased substantially due to stake sell by its parent PNB to manage its capital adequacy. There seems to be no other adverse factors around it. Should we play this as a short term aberration and enter at dips ? Pls let us know. Many thanks
1 Like
@hitesh2710 Hi Hitesh bhai ,
1 Have read online about looking at economic profits instead of accounting profits for ascertaining investment. How to calculate the same and how does one differ from the other ? How important is it , according to you as i believe you have the ability to separate things that are actually practically required from many theoretically suggested things or books.
2 would like to know what books you would like to recommend , both investment related and not related . As per your recommendation, I have read one up on wall street and pat dorseys book ( almost read except the industry specific chapters ) and found them to be awesome .
Many thanks
1 Like
PNB HF has been a big underperformer in terms of price action from the housing finance basket. Stock price has been close to 52 week lows while the market is at all time high. Value investors might fancy it quoting cheap valuations and the fact that stock price has corrected a lot and is available at near 52 week low etc. And they might at some point of time be proven right.
But for me investing in companies going down consistently is not a lot of fun. I would like to see some strength in the company before taking a call.
Fundamental wise the growth rates have been very high. While this may be a good thing one must remember that in businesses like housing finance, its very easy to hide NPAs and NPAs are usually back loaded.
I used to own it a few quarters back but got unnerved by the price action inspite of a string of what seemed like good results and exited.
12 Likes
Owner earnings include reported earnings plus depreciation plus amoritisation minus maintenance capex. This concept was floated by WB in his annual letter to shareholders in 1986. You can find more details by reading the letter. In fact if you are interested in what he teaches it might be a good idea to read up all his annual shareholders letters. You will be able to find them free on the web.
Regarding which books to read, you can follow the threads available on valuepickr on investment books and their reviews posted by fellow boarders.
10 Likes
Hello Hitesh Bhai,
Have you been tracking Natco Pharma Lately ?
The stock is hitting new 52wk lows recently after announcement of their foray into niche Agrochemicals space.
1 Like
@hitesh2710 Hi Hiteshbhai how does vguard compare with Havells ? Should one hold both or one is better off holding only Havells as a play on electrical appliances (consumer durables) and electrification theme ? What kind of moat do these enjoy ? Many thanks
Hitesh sir, how do you rate Alembic Pharma and Ajanta pharma for investment ? Both of them have good R&D investments for past 2-3 years, working on large size Capex plans and have manageable debts ? Looking at their current price, they seem to be decently priced. Pls let us know your thoughts. Many thanks 
1 Like
Not tracking natco pharma. But when a company which is in a niche segment of oncology decides to foray into agrochemicals space Its something surprising. Would need to monitor how they make progress in their new foray.
4 Likes
@A_shah You need to compare product range of havells and vguard. Havells has been a fantastic story over the years, introducing new product ranges and making a huge success out of it. Vguard also has been a good company but performance doesnt match up to havells. The moat havells enjoys is its product popularity and distribution might.
Whether to hold one or both, its up to the individual investor to decide what to do. I cant be advising on these matters. The forum is for learning and not advising.
6 Likes
@pkumar2016 I have been tracking alembic pharma even though I dont hold it. The company has made big capex and is on the verge of completion of capex. Its oncology plant is slated to face usfda inspection soon as it is a totally new facility.
The company keeps getting good product approvals off and on from usfda. It seems to be doing well in other geographies too. The story seems encouraging so far but it remains only in my watchlist.
Ajanta I dont track now.
7 Likes
Thank you so much Hitesh bhai .