For investors using Zerodha for equities, I have recently created an automated XIRR model which accounts for all short and long-term trades. I made this for myself to better understand real returns since Zerodha doesn’t account for short-term trades in their XIRR calculations. Anyone looking to use this, please feel free to drop an email to surbhisinglaiitd1@gmail.com with subject ‘XIRR Calculator’. Happy to share with anyone interested.
Posts tagged Value Pickr
Investing Basics – Feel free to ask the most basic questions (15-06-2024)
For investors using Zerodha for equities, I have recently created an automated XIRR model which accounts for all short and long-term trades. I made this for myself to better understand real returns since Zerodha doesn’t account for short-term trades in their XIRR calculations. Anyone looking to use this, please feel free to drop an email to surbhisinglaiitd1@gmail.com with subject ‘XIRR Calculator’. Happy to share with anyone interested.
The Anti-Portfolio (15-06-2024)
@aadhar.aggarwal I don’t think it’s a structural story any more. It’s speculative to try and guess what AI capabilities to do with graphics genre can be. I choose to to be cautious in this aspect. As shorter term is muted by preferential dilution, showing in valuation derating. It’s also the case that better bets are there. SME volatility and illiquidity are difficult to handle sometimes.
The Anti-Portfolio (15-06-2024)
@aadhar.aggarwal I don’t think it’s a structural story any more. It’s speculative to try and guess what AI capabilities to do with graphics genre can be. I choose to to be cautious in this aspect. As shorter term is muted by preferential dilution, showing in valuation derating. It’s also the case that better bets are there. SME volatility and illiquidity are difficult to handle sometimes.
Mutual fund guideness required (15-06-2024)
Their name itself is Quant, so it is no surprise that they go where they expect make some profit, so they change their views. Keynes said that he changes his views when facts change, so a fund’s management changing its views is not surprising or wrong. Their current views could be wrong do, after a few months, they may say something else. Booking profit at appropriate times, cutting losses quickly, moving from one opportunity to another, even at institutional level is beneficial, more so when investors are expecting miracles.
The other point you have mentioned is a pertinent one. If the AUM grows, would they be able to generate the same kind of returns? Can their strategies handle larger sums, considering the size of the market and investible universe is not that big?
No investment in Quant.
Mutual fund guideness required (15-06-2024)
Their name itself is Quant, so it is no surprise that they go where they expect make some profit, so they change their views. Keynes said that he changes his views when facts change, so a fund’s management changing its views is not surprising or wrong. Their current views could be wrong do, after a few months, they may say something else. Booking profit at appropriate times, cutting losses quickly, moving from one opportunity to another, even at institutional level is beneficial, more so when investors are expecting miracles.
The other point you have mentioned is a pertinent one. If the AUM grows, would they be able to generate the same kind of returns? Can their strategies handle larger sums, considering the size of the market and investible universe is not that big?
No investment in Quant.
Mutual fund guideness required (15-06-2024)
Not sure whats the big issue if their calls seem more akin to trading calls rather than based on fundamentals. I dont think they have ever said they invest purely based on fundamentals. I do think they have time and again said their key strength and focus lies in identifying sector bullishness.
Now as far as the above articles are concerned, 2 points :-
- Articles are 6 months apart - good enough time for a view to change.
- First article talks about PSUs as a basket. The exits mentioned in the 2nd article are specifically PSU banks. I believe they still have PSUs in their funds.
Having said that, to each his own. Those who think and believe that high turnover ratios are bad should obviously stay away from Quant funds. I personally belong to a club where I think a higher churn is infact needed to generate that alpha otherwise one might as well be in a basket of index funds ( which is what I think most mutual fund investors should in any case move towards ).
Journey and Portfolio of a goal-based NEEV investor (15-06-2024)
tldr - type 1 error (aka error of commission) can have more damage to our portfolio and return over a period of time, than type 2 error (aka error of omission) since markets like life is a constant battle of reality vs perception.
if above statement confuses anyone, just replace “actual = reality” and “predicted = perception” in the image while good represents “good companies” and bad represents “bad companies”. that should clear the picture.
we have to save ourselves from ourselves, where we perceive a bad company as a good one leading to a false positive narrative aka type 1 error aka error of commission.
Srivari Spices and Foods Limited (15-06-2024)
The company is expanding its distribution channel continuously. The company’s products have been successfully placed on “BigBasket”, an online grocer in India owned by
Innovative Retail Concepts Private Limited. This strategic initiative is in line with the strategy of expansion of distribution channels.
SSFL_14062024173337_Reg_30_Discl_placement_of_Products_on_Bigbasket.pdf (286.9 KB)
Mutual fund guideness required (15-06-2024)
See below their commentary on psu banks in Jan 2024. Worth noting bullish remarks on psu banks “PSU banks can double from here”.
Below article appeared in June this year where they disclosed they exited psu banks. So clearly these are trading calls they are taking as fundamentals of a basket of companies in a sector don’t change that much in 5 months that they go from “can double” to not worthy of being in portfolio.