Rating reports/Interviews/conf. calls etc. are public disclosures accessible to all. Another example was physical AGMs where only those who travelled got access to information. There will always be information gaps between active investors who seek info and passive investors. To its credit HBL comes up with excellent annual reports too. Even here on this thread you have been able to figure out the Ashoka Buildcon angle just by digging info.
My personal take is I want to be fairly satisfied by most things like disclosures, corporate governance, capital allocation track record and a lot of other subjective things but get the business trajectory right. I want to get these things ‘Mota Mota theek hai’ but business trajectory ‘Solid hona chahiye’. By doing this I ensure that I have a much larger set of companies to work with and that I don’t miss the wood for the trees.
If you have a different view on this that is perfectly fine too.
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