Book Review: Sam Zell-Am I being too subtle?

The Book ‘Am I Being too Subtle?’ is written by Billionaire Sam Zell who is famed for his deal making skills

The Book are essentially his memoirs which makes for superb reading.

Sam Zell was born in Chicago to a Jewish family.His family fled Poland from Hitler and made the journey to US crossing over from Poland to Russia to Japan to the US.

From the beginning, Sam was great at making deals-especially in the real estate sector.

He parlayed his success into raising funds and investing in capital asset companies/real estate.

He make famous for his deals buying distressed assets…so much so, that he became well known by the epithet ‘The Grave Dancer’

His most famous deal was in 2008 when he sold his REIT company to Blackrock at the top of the real estate cycle for $ 39 Billion

The Book is written in a very salty style and makes for great learnings.

Two takeaways for me personally were:

  • Conduct your deals in such a way that people want to deal with you again and again.This essentially means always leave something on the table for the other guy
  • Go where the competition is limited/non-existent. You can be a genius but if there is lot of competition, you won’t make any money

I STRONGLY recommend this book for all traders/investors/deal makers

Portfolio of Atyant Capital

This post is in continuation of my coat tailing series (see here)

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Atyant Capital is a well known investor in the Indian equity markets.

It’s significant portfolio holdings as on 30 June,2017 as per stock exchanges is as given below:

Company Name NSE Symbol/BSE Code Entity % Value (In Crores)
Balaji Telefilms Limited BALAJITELE ATYANT CAPITAL INDIA FUND I 5.37 64.02
Intellect Design Arena Limited INTELLECT ATYANT CAPITAL INDIA FUND I 2.3 26.27
Navin Fluorine International Limited NAVINFLUOR ATYANT CAPITAL INDIA FUND I 1.64 11
Ponni Sugars (Erode) Limited PONNIERODE Atyant Capital India Fund I 9.46 13.66
Praj Industries Limited PRAJIND Atyant Capital India Fund I 1.14 13.92
Puravankara Limited PURVA Atyant Capital India Fund I 3.54 60.44
Sasken Technologies Limited SASKEN ATYANT CAPITAL INDIA FUND I 4.21 32.76
Seshasayee Paper and Boards Limited SESHAPAPER ATYANT CAPITAL INDIA FUND 5.36 47.02
The Motor & General Finance Ltd MOTOGENFIN ATYANT CAPITAL INDIA FUND 2.66 1.35

Birla MNC Fund: Selling MNC, Buying Kotak

Hat Tip: Amit Arora

From the Birla Sun Life MNC Fund Prospectus:

Why Birla Sun Life MNC Fund?
MNCs are generally considered to be high quality companies with global edge and therefore present a better potential for growth. Birla Sun Life MNC Fund invests in securities of multinational companies through a research based investment approach to achieve long term capital growth.

Why choose multinational companies?
Multinational companies generally have strong parentage backed by professional management. They are also known for the best use of latest technology and global experience. Such synergies can help translate strengths into superior products and services, in turn commanding a higher market share or a price premium. All these factors can lead to high growth rates for the company in the long run.

Now look at their top holdings as on 31 July, 2017:

Linkfest: August 21,2017

Some stuff I am reading today morning:

Adani- The man noone wants to write against (Newslaundry)

Bank Unions call for All India Strike on Tuesday (Mint)

Comments on NRN’ s letter to Infosys Board (Subramoney)

Interview with L&T Chairman-Anil Naik (ET)

Stock Talk: Himadri Chemicals (Abhishek)

CanFin Homes Vs Gruh Vs Repco (Tankrich)

Policybazaar: The best policy (Forbes)

What is and isn’t a Moat? (Johnson)

The unsolvable puzzle (Morgan Housel)

The Old Man makes a comeback (Boone Pickens)