Simple Investing

Thanks Hiteshji for kind words and encouragement. Always good to see your post and learn from them.

I agree with every read new perspectives unfold and what is amazing is many many years later we can still relate to what’s happening in markets…

I was unable to take out time for a full re-read but randomly flip pages when get time…I think need to take out more time for books for sure!

While I agree with this that even Lynch read would have warned against Nykaa kind of stocks back then, but guess I would rate Graham a little closer (have not read him full yet but even with starting pages)…

Thats probably because (I maybe wrong in my assessment, its just my way of looking at it and hope I am able to express properly what I think)…“Hot” stock in my opinion is what everyone/most people talk about and want to own or feel where momentum would be…in case of New age companies…everyone did not want these then and neither there was any significant momentum in them.

There were equally big set of people who were very much against such companies and warned of huge drawdowns back then. So it was a 50-50 kind of opinion unlike in Hot stocks where maybe 90-10 or even greater…

This was something else, its like a set of believers and another set of non believers where the believers are optimistic because of their acquired conviction…and I feel even more difficult to protect one from (when one is in belief).

In Hot stock, I would feel that 99% I would get profit in short, medium & long term while in such cases like New age companies, I would be very much aware that I may or may not get profit but believe in an “idea” and acquire a conviction that my chosen company can make that “idea” hugely successful…so even if I am alone in the set of believers, I would pursue that conviction…

Graham mentions that whatever be the case, Valuation & Margin of Safety must never be compromised …and I made mistake of doing that…

I may give benefit of doubt to traditional proven businesses in terms of lesser MoS but to an unproven New age company was a bigger mistake and that too at astronomical valuations…

Feel need to be an optimistic in traditional well run business (otherwise very difficult to invest anywhere) but a skeptical when it comes to new ideas in investing

Need to read the mentioned threads in full. Will do that for sure.

I get amazed by how quickly you grasped so many aspects of investing. Many people must have started at same time or even years earlier but the way you have matured as an investor is a dream/inspiration