Tar's Portfolio and Information Attic

Bhavya_Vyas · January 29, 2022, 2:07pm

ohk Tar , i forgot to ask you about the hospital sector .like most of the cos did heafty capex in last 2-3 years.(hcg , aster dm and some more) whats you views on this . and thankyou for a quick fire response.

Chaitanya_Motani · February 15, 2022, 12:03pm

Hi Tar,

have been researching to find out solar energy sector stocks at decent valuations. Recently, came across the results of Swelect Energy systems. Coincidentally swa your tweet about it. Seems that they are available at very reasonable valuations. Could please provide an Outlook over here as not much information is provided in their Annual report.

Wolf · February 15, 2022, 2:10pm

Hi Tar, do you have any view on Solara active pharma or strides pharma after the massive corrections. Both companies are from the Arun Kumar group. Would you look at any of them now?

Mayank14 · March 20, 2022, 3:09am

Hi @Tar

What is the rationale behind allocating such high percentage of your portfolio to a small cap company(Borosil Renewables) which is yet to prove his worth and its profitability can be impacted if there is change in PLI schemes or if GOI allows import of solar glass panels.

Parth_Karia · June 22, 2022, 1:15pm

Hi @Tar ,
Wanted to know your thoughts on Indiabulls real estate and the recent steep fall , if you have been tracking it. Sorry, if you have covered it already.

Thanks

Tar · June 22, 2022, 2:19pm

Hi Parth,

Indiabulls Real Estate went through so many whammies since Feb.
First, was the reveal of debt of 6K cr by Embassy at the start of Feb, then came the Russian War, then there was those raids by ED on Indiabulls Housing which impacted IBREAL as well

It was showing signs of recovery, then market sentiment changed, then came QIP, and then came broader market sell off from April onwards.

So a lot has happened and none of the decline is related to fundamentals - simply cause there aren’t any to look at. Real fundamentals will only be revealed once the merger completes.

The near term earnings triggers are two

Completion of merger (should have happened this month but it keeps getting pushed, so monitor this closely)
Reducing of Debt (Monetization of land bank will help here)

In my view its a misunderstood firm that just got dealt with a bad hand and continuous whammies.
The firm remains cheap and if they execute well, they have everything going for them to do well over the next few years.

My mistake here was to take the event risk (pre merger) and I should have waited for merger to complete.

D: Holding, will add once merger and name change gets completed

Parth_Karia · June 22, 2022, 4:37pm

Thanks Tariq for the explanation, I agree. Although some of the factors like Indiabulls group raid should not have lead to impact, as the promoter had already his stake by then.

Anyway, hope the merger and clarity on debt etc emerges soon.

Gautam_Chopra · July 3, 2022, 5:33am

Hey @Tar Heard ur soic Quaterly results webinar. Long one but a lot to grasp.
I share the same view for the china etf thing. But which Nasdaq etf is open as of today to invest?

Tar · July 3, 2022, 6:35am

Both Kotak and Navi have open Nasdaq Index Mutual Funds available to invest. I prefer Kotak as AUM is bigger, Navi has less than 100cr of AUM last I checked.

Have moved my SIP from Motilal Oswal Nasdaq to Kotak Nasdaq MF.

Tar · July 5, 2022, 8:30am

Have rebalanced the portfolio during last few months, below is the latest allocation.
Anything not mentioned has been sold.

Booked winners, allocated to absurdly cheap names like Netflix, Facebook, China, Nasdaq (entire index), IEX, Piramal.

Disclosure: I am not a SEBI Registered Investment Advisor, please do not construe this as investment advice. I have been wrong many times and can 100% be wrong again. Don’t let my ignorance be the reason for you losing money.

Sr.No	Company Name	Sector	Allocation
1	Cash	Cash	15%
2	Nasdaq 100 Index	Index Fund	10%
3	China Mutual Fund	Mutual Fund	10%
4	Indian Energy Exchange	Platform	7%
5	Piramal Pharma	Pharma	7%
6	Netflix	Digital Advertising	7%
7	Zoom	Communications	7%
8	Meta	Digital Advertising	7%
9	Laurus Labs	Pharma	4%
10	Aarti Industries	Special Situation	4%
11	Crowd Strike	Cybersecurity	4%
12	Cineline	Special Situation	4%
13	Borosil Renewables	Green Energy	4%
14	Divis Labs	Pharma	3%
15	Ritco Logistics	Logistics	3%
16	IBREAL	Real Estate	2%
17	Rocket Lab	Space	1%
18	Coupang	Ecommerce	1%
19	Quantum Scape	Battery	0.01%

PS: Also have SIPs into BankBeeS and other Tax Saver Mutual Funds which run on auto pilot and hence not included in the above.

Ghonarbochon · July 5, 2022, 10:16am

Sold a lot of BR ? From Dec 21 to now its down from 18 to 4% ?
Got out of Mastek\Jubilant altogether as well ?

Tar · July 5, 2022, 10:48am

BR has short term headwinds and I made quite good returns in it. Needed money to allocate to other areas where there is clear margin of safety and higher probability to high returns (eg. Special Situations, Nasdaq, Netflix etc)

Mastek sold off cause original cloud players like Google, Amazon etc are much cheaper, allocating to them via Nasdaq Index. With Netflix and Meta individual bets, allocation to tech was taken care of. Same logic as with BR, more margin of safety and higher probability of incremental returns.

Jubilant Ingrevia I like but other options have higher incremental earnings trigger and thus would have been an opportunity cost to keep holding Ingrevia.

If I had unlimited capital would have allocated to everything, had to make decision to cut somewhere.

sanjeev_thakur · July 5, 2022, 11:32am

Tariq, I know this question gets asked often but which platform do you use to buy foreign stocks.

raghav_mahajan · July 5, 2022, 12:46pm

Hi Sir, thank you for your articles.
I see you no longer have a position in Upstart, stock has been a lot of beating lately because majorly for two reasons that I think of -

Management lowering the guidance (this problem I feel is transitory)
The real antithesis and the worry we all see is the rising interest rate environment , the company had a great track record in the low-interest-rate environment but they are yet to prove themselves in a high one.
But valuations provide a lot of safety we are getting company at less 20x pe FY22

Please share your thoughts on this

Tar · July 5, 2022, 1:33pm

I use Groww, have written about the pros and cons of investing abroad in detail on my blog

Tar · July 5, 2022, 1:35pm

The earnings part of PE will see a lot of headwinds as US enters recession

Upstart has invested a lot in to auto financing which should be the first one to take a hit as US enters recession. Housing market in US is already showing signs of slowdown.

A higher interest rate environment will be a test for Upstarts algo and models. So in my view there are some headwinds. I had to consolidate the portfolio and it was a tiny position at a loss, so decided to sell.

Will revisit it again in 12 to 18 months.

Prathamesh_Nalawade · July 5, 2022, 5:57pm

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Gaurav_Bhandari · July 6, 2022, 4:59am

Thanks for sharing your pf with us @Tar. Wanted to know have you sold your position in hero moto corp and did you replace it with any auto stock only. Also, china mutual fund is edelweiss one only right?

Karan_Khanna · July 6, 2022, 8:10am

(post deleted by author)

Tar · July 6, 2022, 8:51am

I don’t think this is an IEX thread guys, take it up on personal DMs or on the company’s thread page.

Thanks