First of all would like to apologize for late post.
Below quote by Charlie Munger comes to my mind right away as I sit down to pen my first experience of attending VP Chintan Baithak 2019 and still trying to get out of my jet-lag.
“The best thing a human being can do is to help another human being know more.” - Charlie Munger
Every individual at the annual meet possessed unique personality, background, experience, strengths and weaknesses, and an individual way to approach to investing in equities. But everyone was out there to learn from the other person regardless of their seniority or time spent in the market, and everyone was generously willing to help the other person. It was a great joy to see sheer humbleness of all the folks in attendance.
Notes from Hiren’s session have been captured above very well. I’m not going to add any value but would repeat most of the stuff by sharing my notes. But would share my big two takeaways from his candid talk; 1) First Chink in the Armour – DO NOT IGNORE IT. THINK DEEPER. 2) Be on highest alert level after a good year. Re-evaluate your portfolio and KEEP CLEANING YOUR EGO. Big thanks to Hiren for generously sharing his learning from over 30+ years of his experience in the markets.
We had high quality presentations on one’s investment idea to ponder further (I guess there were 20+ ideas shared). It’s quite remarkable to see the differential insights in each idea which can easily be missed in traditional way of generating ideas. A gem may look ordinary at face value but it’s true worth is realized only after it is given a shape and polished (as one digs deep and finds “that” differential insight). Got some brilliant insights and accelerated learning in tough sectors like Capital Goods, Specialty Chemicals, and AM & WM.
The amount of hard work that went into extracting exceptional insights for each idea and sector presentation is noteworthy. Hats off to everyone for going above and beyond to share their hard work given their full-time job and many raising a young family.
I’m sure Oliver Wendell Holmes will be proud of us. Below is his apt quote:
“Many ideas grow better when transplanted into another mind than the one where they sprang up.” – Oliver Wendell Holmes
A big eye opening moment, personally for me, was during the presentation by Hiteshbhai & Abhishekda on use of Technicals for long-term investors. Hiteshbhai has very rightly said that unless market agrees with us, it is not possible for any investor to make money. There is huge opportunity cost involved for every investment that we make. If our favorite stock remains sideways for years for many reasons, opportunity cost can make a significant difference to our overall returns. Biggest learning was that with the knowledge of Technicals, one may become better at entry & exit and ensure that capital is deployed optimally. At this moment, I don’t even know “T” of Technicals but will no longer keep a mental block towards Technicals and will try to explore it with an open mind and see where it can lead me to. I want to sincerely thank both @hitesh2710 & @basumallick for their enlightening presentation which removed the mental block that I had towards Technicals.
A lot of planning and management goes into ensuring that a 4 day event moves smoothly and we achieve what we have gathered for. From deciding event location to ensuring that everyone catches their return flight by getting proper transportation to the airport – there are tons of items that need to be planned for. Hats off to all the gentlemen who were part of planning and managing the flow of the event.
I want to thank @ayushmit for a very thoughtful customized souvenir that was given to all attendees. It will proudly remain on my office desk reminding me to strive for continuous hard work to Seperating the Wheat from the Chaff.
Lastly, I would like to thank the senior panel members to forward me the invitation to attend the Annual Meet. It was an amazing experience and absolute pleasure to meet everyone. I learnt a lot from everyone attending this event.
My Introduction, Investment Journey, and Investment Philosophy deck. Introduction, Investment Journey, Investment Philosophy_Amit Rupani.pdf (315.7 KB)
I made a presentation on KRBL. Will share deck on KRBL thread.