Rishabh Jain : Seeking Knowledge, Gaining Experience


Hello, I am Rishabh Jain, a 21-year-old investor who began my journey in the stock market in December 2021. Since high school, I have been captivated by the world of stock markets, and my passion for investing was further fueled when my father gave me a book to read during the COVID-19 pandemic. The book was “Charlie Munger: The Complete Investor” by T. Griffin. My father, being a brilliant investor himself, has been instrumental in guiding me through this journey. I have delved into numerous books on investing and personal finance, exploring the wisdom of legendary investors such as Charlie Munger, Warren Buffet, and Howard Marks. I have developed a habit of reading extensively, immersing myself in everything related to investing and finance. I keep myself informed by reading publications like the Economic Times, studying investor presentations, analyzing research reports, and poring over annual reports of companies that catch my interest.

Learning and Building:

I have completed my B.Com. degree and currently pursuing CA. I have been fortunate enough to receive a monthly sum from my father, which I invest diligently. I actively engage in discussions with him, seeking to extract as much knowledge as possible. I adopt a systematic investment plan (SIP) approach to invest in direct stocks every month. Since starting my portfolio in December 2021, I have achieved an absolute return of 30%.

When it comes to selecting investments, I focus on companies that exhibit high and consistent return on equity (ROE) and return on capital employed (ROCE). To ensure the reliability and stability of my investments, I adhere to some criteria :

  • Companies with little to no debt

  • Promoters with minimal or no pledged holdings.

  • A proven track record of profitability for four or five consecutive years.

  • Consistency in both sales and profit figures.

  • Companies trading at historically low price-to-earnings, price-to-book, and price-to-sales ratios.

  • Understanding of margins w.r.t business cycles

  • Businesses that I can understand through in-depth research, including analyzing company websites, conference calls, and investor presentations.

  • Management teams with untarnished ethical records.

I follow these principles, but I am not limited to them.

Maintaining a concentrated portfolio of fewer than 15 stocks, I firmly believe in the power of long-term investments and resist the urge to engage in frequent buying and selling. I avoid over-analyzing things such as what car the promoter is driving or how court actions against the promoter would affect the company. According to my investment strategy, I do not invest in hot stocks, even if they are trading at low or attractive valuations. I have not tested future and options and will not do so in the foreseeable future. Warren Buffet, Charlie Munger, and Howard Marks have taught me a lot about value investing. I’ll call myself a conservative investor rather than a value investor because I’m not sure what actual or real value is. I haven’t gotten around to considering momentum investing. Also, I know a thing or two about technical analysis, but I never use it while buying or selling.

As a novice in the investing world, I am acutely aware that there is much more to learn. The last 2 - 3 years have been wonderful for the markets, so I’d like to remain humble and not get carried away by my profits. I humbly seek the blessings, advice, and suggestions of experienced investors as I continue to expand my knowledge in areas such as business analysis, stock valuation, and other investment strategies.


I currently own shares of Aavas Financers, Mayur Uniquoters, M&M Financial Services, and Jindal Steel. A few months ago, I sold Megastar Foods, MTAR, Greenpanel, Arvind Ltd., and Greenpanel to minimize the number of equities in my portfolio.

I am now researching the banking and steel industries. Aavas and M&M Financial Services caught my interest. I’ve had a long-term investment in Jindal Steel. Mayur Uniquoters is a firm that I found simple to grasp, and I have high hopes for its growth.


Conservatisism is the bold in markets. If you can limit your drawdowns,you are 90% there.

There are far too many growth stories floating to be true.

Share investee company names for more comments.

Right age to enter the markets.

All the best

Thanks for the encouragement.

My holdings have been added above.

For finance companies, there needs to be debt.
For infrastructure companies there needs to be debt.

Finance companies have been one of the best compounders in the past couple of decades (with real growth, not inflated growth in stocks price like FMCG firms)

Indian FMCG firms seems to have already been priced in for all the future growth in the market!!