Hi Ankit,
I went through your key learnings. Can’t say I agree with all of them, but I respect your tenets as they are specific to an individual’s investing style.
In regards to price, at some price – no matter how good the growth story is, the business losses its attractiveness. It then starts to become a game of speculation (where one hopes to find someone willing to pay a higher price). Your thoughts?
Also, I see a lot of movement in the portfolio (entry and exits). May I ask the rationale behind that? Is it momentum based or is it a case where business attributes/thesis has changed? If the later is the case, then why would one invest in a business where its future economics can’t be estimated with fair certainty?
Regards
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