The 4th monthly meeting took place at KJ Somaiya Polytechnic, VIdyavihar. The presentations followed the theme of 2 stock specific, 1 sector and 1 investing philosophy. The first meeting held on a Saturday, saw a turnout of ~45(versus registrations of 55). The presentations
- Justdial stock presentations by Anandh Sundar @andy161161 which explored the recent price dip, promise vs performance, global comparables, and probability weighted scenarios. The audience weighted in with comments on demonetization impact on clients(SMEs), disruption worst case scenario, H1’17 performance dip, scuttlebutt on spam calls post inquiry, and whether bear case was pessimistic enough considering dramatic website rank fall. Thanks to @gaurav_sun238 for questions and comments.
- The presentation on Shemaroo by Girish Singhi @SinghiGirish explored one of the most actively tracked stocks and its business model, risks and valuation. there was active participation from the members who gave inputs on its business model pivot, M&E industry dynamics in India, economics and interplay of cable/D2H vs online sales, and debate on whether negative FCF truly reflected economic earnings, impact of 3rd generation and extent of value creation. Thanks to @dd1474 for weighing in with his comments
- Yogesh Sane @Yogesh_s presented on popular demand, an overview of his post on Indian Banking Industry - PSU and Private This included an innovative layering of ratio analysis-presenting 3yrs of ratios for banks sorted by assets on a bar graph-it helped bust many myths for me about big bank vs small banks. Some interesting points included impact of cost of funds on business model choice(hint, smaller is better), correlation of operating cost to NIM, cumulative effect of provisioning, PSU vs private sector and agency effect therein, behaviour impact of implicit guarantee, why banks account for high share of index in emerging economies, and aligning ROE expectations for this regulated sector. He interposed comparisons of banks with other FI players(MFIs, NBFCs, HFCs).
- Prashant Vaishampayen @prashant presented on his experience of being a full time investor since 2010. The presentation despite being the last one, kept people engaged and appreciative of the experience sharing which did not skim over practical aspects like trade execution, family buy in, handling boredom etc.
Life of full time investor.pdf (215.9 KB)
Just Dial-An analysis.pdf (1.3 MB)
Shemaroo PPT to be uploaded post some changes
As usual, thanks to the organizers including yours truly, @kaustubhkale and @raahill for presentations vetting, @Yogesh_s for ideas and suggestions and to @sekhar for organizing the venue+logistics.
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