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Something aside for retirement
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Linkfest:October 28,2014
Some stuff I am reading today morning:
DLF and listed realtors have destroyed 330,000 Crores of wealth (FirstBiz)
Lavasa IPO hits SEBI roadblock (Mint)
The business model and moat of Repco Home Finance (RJ)
Don’t personalize the market (CommonSense)
Why we hold hard assets (DailyReckoning)
Digging the Fiberal grave (Media Crooks)
Singapore landlords build world empires with bond sales (Bloomberg)
How to choose the best performing mutual funds in India (BasuNivesh)
IBM,Coca Cola and McDonalds are struggling (TRB)
George Soros’ son involved in a messy divorce (NYPost)
(Q) Why change of heart on India ?
Note : This question was in relation to Mohnish’s recent investments in India, which had avoided thus far.
(A)I had stayed away from India as most of the companies tend to be family owned and lots of them have governance issues and hence we didn’t prefer to invest in family controlled businesses.However, we found few opportunities this year, which fit our criteria. One of them is The South Indian Bank.
Why South Indian Bank –
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Unlike west or U.S it’s hard to get a banking license in India
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60% of the country still don’t have a bank account
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Growing middle class are embracing banking and opening bank accounts
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It’s not a family owned business -from BitsBusiness
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