Need suggestion on portfolio SK

Below is my latest portfolio. I have almost 20% in cash from last few months and waiting for dip to deploy them. There are few lessons which I learnt in 2022. I am listing it here(at the end) for other’s benefit as you dont have to make mistakes on your own to learn something.

I have made around 15% return in 2022 with some learnings. My goal is to have 15-20% return every year. I know it can’t be linear. But atleast this is what I am targeting for.

Latest portfolio –
Instrument
LIQUIDBEES – Almost 20% – planning to deploy in 3-4 tranches on market dip

GPIL
APLAPOLLO
LAURUSLABS
SAREGAMA
DEEPAKNI
BORORENEW
RACLGEAR
IEX
TATAPOWER
IDFC
GOLDBEES
RAJRATAN
IIFL
SHBCLQ
PRAJIND
PIXTRANS
HCG
AXISBANK
PIIND
NH
KAMAHOLD
JUBLINGREA
NAVINFLUOR

Mistakes/Learning –

1 Don’t fall in love with stock. Keep check on business growth. If business is not improving or management is not doing walk and talk, reduce the exposure to the stock or sell it entirely. I bought Lauras Lab with 8% exposure(biggest holding) and paper profit was 60-70% till last year. But I didn’t sell because I trusted on Management guidance, management keep confirming 1 billion revenue guidance for 3 quarters and finally they said they can’t achieve it. I should have sold some portion of stock when management commentary changed. I sold some part of stock recently at 20% loss instead of 60% profit. so lesson learnt is that dont allocate 6-8% just on hope and growth not reflecting in business. I still think business is good, but I should have booked 30-40% of profit

2. Trading/Momentum – I need to improve on momentum/trading. e.g. Defense/PSU/Fertilizer stocks. They grew 80-100% in 1-2 months. But I was not able to buy them at the beginning. I thought PSU stocks are bad. Lesson learnt – catch them while they are young and keep booking profit. I dont think I lost money in them. But I didn’t earned too. I need to improve on them for satellite portfolio.

3. Learn about business and growth – this is where Value Pickr, You Tube videos and Twitter help. Keep learning about existing business and new business and be ready with your watchlist. It will help in buying business when market falls.

4. Valuation – This is the area where I dont have much confidence if a stock is expensive or not and need to work on it. There could be few criteria like PE is less than median PE or P/B in case of bank or EV/EBIDTA etc. I need to learn more on it

5. Avoid hope story – There are few stocks like IBreal estate which I bought when embassy group took the company. But so far merger hasn’t been taken place and court keep on delaying the order. Hence stock has been punished and is -50% from my buy price. It is still a hope story for me. Lesson learnt – dont average down in this case. I should have stayed with initial amount so that loss would have been minimal. There are many other stocks like #1(Sequent scientific,Neuland lab) where I lost money while I could have sold them on profit. They were hope stories. I am out of them now

6. Basket approach – we can have basket approach in some of the sectors where we dont know much about the companies. e.g. Defense,PSU bank,Fert,Sugar sector. Buy 3-4 stocks in each sector with almost equal weightage to make basket. This is a learning for me. Everyone has different style. Some people are happy with 5-7 stocks and make good return, some have 15-25 stocks and some people like me could have 30-40 stocks.

7. Core and Satellite approach – We should have core and satellite approach. like 60-70% could be core and 30-40% could be satellite. Satellite could be the stocks with low allocation where we dont have much conviction. e.g. PSU, Defense,Fert stocks etc could go to Satellite basket.