Some stuff I am reading today morning:
Zee stake sale move has market confused (Digital FC)
GVK’s deleveraging plans (Mint)
10.25% JM Financial NCD issue (My Investment Ideas)
Malted Milk Drinks in India (BQ)
Stock Analysis: Globus Spirits (Dr Vijay Malik)
Company Profile: Sadhana Nitro (MC)
Why global funds are again warming up to India (BS)
How Sanjay Lalbhai invests his money (OB)
12 Investment Contradictions (Joe Wiggins)
Things you will see in every market correction (Ben Carlson)
Hat Tip: Bhavik Mehta
Amusing to see the Exchange Filings of Sand Plast India
But Yusuff Ali’s big break came through in 1990 amid the Gulf War.
As many packed their bags to leave the emirate, Ali decided to invest and open a “big hypermarket” in Abu Dhabi, a move that caught the attention of Sheikh Zayed, the ruler there.
“He asked me, how do you have the energy when everybody is abandoning the country,” Ali says. “I told him we are here to stay and that I learnt my business in Abu Dhabi and was not willing to run away from the problem.”
An impressed Zayed called his son, the current ruler, and told him to take care of Ali.
“That relationship continues to this date,” Ali says. “They treat me like family. Even when PM Narendra Modi was visiting, I was seated with the royal family. They treat me like their own.”
Some stuff I am reading today morning:
Oil Prices crash (CNBC)
Zee Entertainment Promoters to sell 50% stake (MC)
Jarring speech of Raghuram Rajan (ET)
In HDFC Mutual Fund we trust (Mint)
Flipkart’s Binny Bansal accused of sexual assault (BS)
Tatas are doing due diligence on Jet Airways (BQ)
Yusuff Ali & the LuLu Group (Forbes)
Secret Diary of Ronnie Screwvala (OB)
On real estate crowd funding (Retire By 40)
Malaysian PM : We have been cheated by Goldman Sachs (Zero Hedge)
The Book ‘The Art of Execution’ is written by Lee Freeman-Shor who is a Manager running a fund which allocates capital to different investors with instructions to invest only in their best ideas.
As such, the author had the opportunity to examine 1,866 investments made by 45 of the leading investors of UK and the book is the outcome of this study.
Two interesting observations of this study:
1.Only 49% of the very best investment ideas made money
2. Some of these legendary investors were successful only 30% of the time
So how can a top investor make money if he is wrong most of the time?The answer lies in “execution, execution, execution”
As George Soros famously said “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much money you lose when you’re wrong.”
The key finding of the Book is that making lots of money or not losing pots of money comes down to the actions you take after you have invested in an idea and find yourself winning/losing.
The First Part of the Book deals with losing and the Second Part deals with winning.
One of my biggest grouses about investment literature is that not enough is written on selling. This Book does a great job of filling that gap.
The author does a fantastic job of walking through various thought processes when a stock price is going down and why people get “frozen” into their positions leading to permanent loss of capital.
The are lots of case studies from the UK stock market and that add lots of colour and practicality.
I would strongly recommend this Book to all investors.
