INVESTMENT THESIS ON JSW ENERGY
Our call on JSW Energy is a non-consensus call. What do we see that others do not?
Enclosed is a brief note to explain our thought process underlying this investment.
Read MoreInvest in some Gold in your portfolios
The starting point for Investors must always be Asset Allocation. In some earlier letters, we have written to you recommending you should hold some Gold/Gold Equivalents in one’s portfolio – as Insurance to guard against the “unknown unknowns” of excessive money printing and even as diversification into another Asset Class that is not correlated with Equities.
Read MoreINVESTMENT THESIS ON SEQUENT SCIENTIFIC
We have put together a brief note to explain our thought process underlying this investment.
Read MoreIs this a good time to add to Equity Allocations ?
Over the past few week, we have been asked by many partners whether “It is a good time give you more money?”
Read MoreINVESTMENT THESIS ON SRF
SRF has 3 business verticals – Fluorine based Chemicals/Refrigerant Gases, High grade Packaging Films and Technical Textiles. Our primary Investment thesis is based on the Fluorine based chemical segment where they have a highly differentiated franchise.
SRF has tail-winds on its own merit but will benefit from “China+1”. They have been investing in Capex aggressively over the last few years & with the agri Cycle poised to turn, the company should witness strong growth over the next few years.
Enclosed is a brief note to explain our thought process underlying this investment.
Our approach to portfolio design
Enclosed note discusses our approach to portfolio design.
Read MoreImplications of re-pricing of credit risk in India
India has implemented two significant regulations in the recent past. GST and the Bankruptcy Code. We argue that a third one is on the way which will lead to Re-pricing of Credit risk
Read MoreA perspective on FMCG valuations
The best businesses are those that can grow predictably while generating cash and can grow without any or very little reinvestment of this cash.
Read MoreHigh Noon for wholesale funded NBFCs
In our Q2FY18 letter dated 4 July 2017, we had made the following observations
Read MoreShould one add to equity exposure at present?
Markets have done well over the last 12 months with the NIFTY up ~ 25%. A common question we encounter at present is whether one should add to their Equity exposure at present.
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