Source:Mint
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Chart: The Modi decision that changed India
Source:Mint
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The Porinju Effect
Around 11:20 am today, well known PMS fund manager Porinju Veliyath tweeted as below:
AllCargo @ 170, one of the largest logistics company, an underperformer priced at Rs.4000 Cr seems to be at an inflection point. Explore yourself. We hold in PMS & AIF. https://t.co/kUTFByyPMF
— Porinju Veliyath (@porinju) November 29, 2017
The effect on the stock price was immediate
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Book Review: India’s Most Fearless
The Book ‘India’s Most Fearless’ is written by journalists Shiv Aroor and Rahul Singh.
Not many of us realize it, but India has been in a constant state of war since Independence.These conflicts range from Kashmir,North East and the Naxalite regions.
That we are able to carry on with our lives peacefully is because our soldiers,sailors and air warriors are on a constant state of mission alert.
The Book brings into stark relief the courage, fearlessness and patriotism of our men in uniform.
It covers 14 true stories of military exploits and some of them such as the surgical strikes in Pakistan,Myanmar etc gave me goose-bumps.
The Indian Army has the highest incidence of officer mortalities…the heroic exploits in the book makes us understand why.
As one reads the stories,I am stuck how truly pan-Indian our armed forces are-they are brave hearts from every part of the country-Mumbai, Haryana, Chennai, Arunachal Pradesh etc
Every soldier comes from a family who loves him dearly and does not wish to see him in harm’s way. And yet for the sake of duty,country and honor,they know it is inevitable
The Book does a fine job of bringing out these emotions…found some of the pages heart wrenching.
For instance, the words of the wife of Late Havildar Dada on receiving the Ashok Chakra from President Pranab Mukherjee:
“Dil mein toh ro rahi thi, par sabko apne aansoo kaise dikhati?Aakhir mai Dada ki wife hoon, aur Dada ki wajah se wahan hoon jahan hoon”
Another incident which shows the remarkable grit and courage of the families of armed forces is the incident of one of India’s finest pilots-Vikas Puri.
He was not doing fine at the NDA academy and his instructor wrote to Puri’s father advising that Puri is not suitable to be a pilot.
Puri’s father replied furiously:
Girte hain shahsawaar hi maidan-e-jung mein
Woh tifl kya girenge jo ghutnon ke bal chale?
It is only those on the horse will fall on the battle-field
How will they fall those who crawl on their knees?
My son has dreamt to become an airforce pilot and you are taking away his dream.
You can kick him,kill him, but I want to see him as an air force pilot.
Vikas Puri not only became one of India’s finest helicopter pilots but was also decorated with the Vayu Sena Medal for gallantry.
Not only do I strongly recommend this book,but I also commend this book to your kids.They ought to know about the sacrifices made by our armed forces.
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Linkfest: November 29, 2017
Some stuff I am reading today morning:
I-T notices to 1.16L for cash deposits over 25L (MC)
RERA impact: Small,mid-size firms struggle (Mint)
A new banking era (ET)
NSE was never clean (Subramoney)
Bangalore Bus City Conductors as financial whizkids (TOI)
Warren Buffett sold puts (CBOE)
Bitcoin just got real (TRB)
How to manage an asset price mania (like Bitcoin) (PragCap)
Stop bashing the Halo Effect (Intelligent Fanatics)
Things worth spending max money on (FS)
Bull markets are a great time for fraudster promoters to make money. If you are a fraudster and also want to benefit from this bull market, here's a thread that explains how you can defraud shareholders and get rich.
— Amit Mantri (@amitmantri) November 28, 2017
2. Draw analogies to D-Mart or other businesses that investors love (next Page Industries maybe?). Doesn't matter if your business is nothing like the ones you are comparing it with.
— Amit Mantri (@amitmantri) November 28, 2017
4. Start making up the numbers. Only Revenue and PAT matters. So don't worry if the Balance Sheet has all sorts of large unexplained scary stuff. No one looks at the BS in a bull market.
— Amit Mantri (@amitmantri) November 28, 2017
6. Gold plate the capex to siphon out funds. Pay salaries and other operating expenses using siphoned cash resulting in even higher profits and market cap. No one questions absurdly low salaries or purchase of computers worth 20 lakhs per employee.
— Amit Mantri (@amitmantri) November 28, 2017
8. Also, don't worry if you have almost zero on-ground sales or operations. No one will check. Even the outlets you mention in the investor presentation don't really have to exist. Just don't do the mistake of providing store location links on Google Maps or your website.
— Amit Mantri (@amitmantri) November 28, 2017
10. Start advertising on CNBC and Economic Times. Why? Because your audience is the investor community. Doesn't matter if actual consumers have never heard of your products, the investors should hear about it every week.
— Amit Mantri (@amitmantri) November 28, 2017
12. Publish fancy quarterly investor presentations, glossy annual reports with language that would wow even Shashi Tharoor, hold con-calls after every good quarter reiterating aggressive guidance.
— Amit Mantri (@amitmantri) November 28, 2017
14. Buy few shares of your own company. Investors will take your buying as a sure sign of a booming business. Doesn't matter if other related parties are selling. Follow the PP Waterballs playbook – https://t.co/5X4Zb96pxn
— Amit Mantri (@amitmantri) November 28, 2017
16. Announce de-merger of a part of the biz. Nothing creates as much value as a de-merger even if it makes no logical sense. Promise other value-unlocking measures.
— Amit Mantri (@amitmantri) November 28, 2017
18. Pledge your stock as much as you can. Spread rumour that you are pledging stock to buy your own stock which will again be taken as a +ve.
— Amit Mantri (@amitmantri) November 28, 2017
20. Pledges will be invoked, stock will crash. Announce that you are facing temporary cash flow problems which will be quickly resolved. Of course, they will never be resolved. After few weeks of panic, yelling, and abuse, investors will forget your company ever existed.
— Amit Mantri (@amitmantri) November 28, 2017
21. Wait for the next bull market. Repeat from 1.
(END)
— Amit Mantri (@amitmantri) November 28, 2017