Some stuff that I am reading today morning:
3 Big Reasons for Nikkei’s 7% Crash (BI)
Tata Steel posts its biggest loss ever (WSJ)
Vijay Mallya Vs The Banks (BS)
An idiot’s guide to Bharat Nirman (Mediacrooks)
What type of financial investor are you? (HowardLindzon)
Three simple index fund portfolios (RickFerri)
The mathematics of spot fixing (Mint)
How much is enough? (BasuNivesh)
Paul Tudor Jones on female traders (BI)
Profitable markets for patient investors (DR)
This post is in continuation of my money saving tip series (see here)
Children in India seem to just love junk food like chips,fritters, colas, sodas,cream biscuits etc
While parents know that these are bad for their teeth and for their health, they seem helpless in front of their kid’s demands.
As paedatricians often warn, these foods contain colors and other allergens which result in coughs/colds/allergies in children.
A typical middle class family probably spends around Rs.100/week (if not more) on these kinds of foods.By cutting them out and convincing your kids to eat healthier alternatives, one can improve their health and save trips to the doctor.
Estimated Cost Savings:Rs.5200 per year
Total Potential Savings From Money Saving Tips Series so far:Rs.14500 per year
Email your own money saving tips to Alpha Ideas
Some stuff I am reading today morning:
Daichi may sue ex-Ranbaxy promoters for false information (MoneyControl)
With his magic touch, Warren Buffett may be irreplaceable for Berkshire (ET)
Tanishq Gold harvest scheme review (OneMint)
The growing India water tragedy (Bloomberg)
The Portfolio Manager Strategy Cycle (PragCap)
Crowds,Mencken and Wisdom from two great investors (DailyReckoning)
Gartman’s 16 rules of trading (BI)
Gold will not make a comeback (MarketWatch)
Risk Appetite index headed for Euphoria (SoberLook)
The Graduation Advice we wish we’d been given (HBR)
This post is in continuation of my What I Learnt From Series (see here)
Ramesh Damani is a well known Indian equity investor and has been investing in the Indian markets for decades.
What I learnt from him:When you are supremely confident of a stock, back up the truck on it
In an interview he says,”The biggest failure of my life is in the inability to dream big” .In the late 1990s, Ramesh Damani was supremely confident about the prospects of two stocks: McDowell (now United Spirits) and Bharat Electronics. He knew that there was such a gigantic and profitable market for liquor in India that McDowell would do very well. Yet McDowell was quoting at such beggarly valuations that you could have bought the entire company at a market capitalisation of only Rs. 200 crores. The same was the story with Bharat Electronics, the blue chip PSU, which held the rights to all multi-billion dollar defence deals.
Ramesh Damani says he had the means to buy 10% of the equity capital of both companies. If he had done that, then, at today’s market capitalisation in excess of Rs. 50,000 crore for both companies, he would have been worth Rs. 5,000 crore. “I would have had to do nothing else. Just two stocks would have made me a Forbes billionaire” he exclaimed. “You will never get seriously rich by buying 2,000 or 10,000 shares. When you get a seriously attractive opportunity, back up the truck with the stock” he advises.