Porinju Veliyath is a contrarian to the core. Not only does he buy stocks that nobody is interested in, but he also buys at a time when everybody is selling.
This simple contrarian strategy has helped Porinju Veliyath rake in millions from the stock market.
Porinju’s latest tweet seeks to drill some wisdom into us:
The carnage in mid, small-caps will be over by this week. Be conservative and very selective while bargain hunting in this space!
— Porinju Veliyath (@porinju) March 25, 2015
(The carnage in mid, small-caps will be over by this week. Be conservative and very selective while bargain hunting in this space!)
Porinju also hinted that two stocks are ripe for a buy. The first is Selan Exploration, one of Porinju’s all-time favourite stocks. Selan has been beaten out of shape in the crude melt-down (it is down 53% in six months). Porinju suggested Selan on the basis that “Crude seems to be bottoming out at last!”.
Porinju also sent out a look-out notice for Future Consumer Enterprise Ltd (FCEL) of the Kishore Biyani group.
“FCEL | 10.50 – Mgmnt buying consistently! Only company in the group worth researching; clean balance sheet and futuristic business model!” Porinju tweeted.