Hi @zidane - Thank you for checking on me. I’m doing fine. I hope you are doing well too and thriving in most of your efforts.
As I have written in the beginning of the year, I made some commitments to myself and for once wanted to stick to them, come what may.
Since I’m writing, I will pour all that I want to say, I hope it’s not too boring for the members. I will touch different aspects of life, not only markets.
I have made progress in most of my below goals:
-
Fitness: I have lost 11 kilos while being metabolically healthy and improving health markers like inflammation, blood sugar levels, waist size. I want to reach 15%-12% body fat while being metabolically health, the operative word being “metabolically”.
-
Family & me time: More vacations this year with kids and a happy mother and wife (hope so ;-)). I wish my father is alive to see me in a more matured avatar (not that I have achieved anything great in life - yet).
I’m traveling a lot more this year and hope to continue this. I’m spending quite a lot of time on reading on automobiles at team-bhp website where I’m a member. This website is absolute gold for automobile enthusiasts. Unbiased to the core. -
Books: Lot of them but the focus is on Medical books, Human race origins & a little bit of fiction, quite contrary to my past 8 years genre. Re-read Jeffrey Archer. He is a gem of a story narrater. My type. Absolute focus on medicine. Intermittent fasting, Carb restriction, Junk avoidance, insulin, importance of saturated fat, proteins.
-
Purpose of life: This is a biggie. I’m confused and do not have coherence in my thoughts to write anything yet.
Anyway, coming to the topic of more interest -
Absolutely no additions in my investment picks. There’s actually no reason to. The thesis is in tact and so is my iron clad holding period. I have added to Khal Nayak around 125 and Park Avenue mart at 3600 at the cost of Delhi Belly and Chor Bazaar.
Over the past 8 years with 3 full “bull & bear” market cycles experience - I’m actually angry with the market with the way it behaves. Of course this is in consistent with my own behaviour in market during a stock’s low and a stock’s high. I have learned a lot but still repeated some of the mistakes. This is most probably because “money” is involved. This paves way to hope (false, true), greed (did not impact me much), fear (impacted me a bit).
The most impacted/ felt emotion for me was anger, impatience. The market takes a lot of time to realise it is wrong and in the interim we feel (at least I) felt what am I missing? And then, the stock moves as if there’s no tomorrow. Now, the stock behaves like a mad bull on the upside. I do not understand why a stock is moving so way above its valuations. This is a result of “emotions of market participants PLUS market environment PLUS narrative building PLUS macro & micro PLUS who knows what new variable?”
What guarantee that I will once again be lost in this jugglery? Not much. I do not want to overestimate myself. Also, during this process there are a lot of emotions - repent, anger, hope, fear, greed, blood pressure, frustration at home, time waste etc.
So, what’s the solution?
- Stay away from short term trades, fake people, narratives, I told you so types. Basically, ignore short term dopamine hits.
- Buy stocks with highest conviction run by the greatest of people
- Bet on people with integrity and vision. They are built different.
- Patience. Long term.
- Keep expectations in check so there’s less room for disappointment and a lot of room for surprise.
- Know yourself. Know what you are not good despite trying at and stay away from it.
- Know what you are good at & make the most of it. Repeat day in and day out. That’s all there is to life.
- Have fun!
The price action of Kona Kona bank taught me a lot about market than anything else. Fantastic. All narratives END. When does it & What’s the trigger are the only variables. The stronger the narrative the longer the time the stock takes to alight itself to its fundamentals & valuations. Even a bank like Kotak faced this, imagine the fate of normal narratives. During these waves the “MEDIA, MARKET ANALYSTS, PMS MANAGERS, MARKET EXPERTS, SCAMMERS” make money. Make hay while the sun shines.
RINSE. REPEAT.
Some observations of mine which stood test of time:
- Market is supreme in the long term.
- Technicals precede fundamentals.
- Before you say, money is not everything, make sure you have enough of it.
Ok, that’s it for now. I was watching Gran Turismo before there’s an email notification on a new post in my thread from Abhishek. Also, I’m on fast - 19 hours. So, I will eat now and continue watching.
Take care all.
Thank you once again @zidane for checking on me.
Disclaimer: Stocks written are not recommendations and I’m not certified in anything in life, let alone on stock markets.
A person with passion does more than a person with a certification. Damani sir built a wonderful business without an MBA degree. That discussion is for another day.
Subscribe To Our Free Newsletter |