Sharad, loved your insights of your portfolio, thanks for sharing. Do you by any chance follow Mohnish Prabai? I see few common stocks.
I am also an equity investor in Indian businesses for 6+ years and run a concentrated portfolio of Edelweiss Financial, Vaibhav global and one SBI Small cap fund (weekly SIP). Im excited about the opportunities which we will have in next five seven years in India. Thanks for inspiring, i would love to share my portfolio performance similar to yours over long term.
You are underperforming in International marker and outperforming in Indian market, why not just invest in Indian market. Why even go for International market? Are you not finding enough opportunities in indian market?
I live in Singapore currently, so I have some savings in Singapore and also some savings in India. If i invest only in the Indian market, i will limit myself to a very small percentage of global investable universe. So , currently I invest in any stock that I find to be undervalued regardless of geography. In terms of performance, I will still give it at least 5 more years to conclude on portfolio performance vs global indices. If , after that time, I conclude that international index will outperform my international holdings, I will move those particular holdings to the global index.
Thanks for the feedback! My Edelweiss cost base is INR 91/share. There is a good write-up on ValueInvestorsClub which i would recommend reading. Regarding sales: I did trim some holdings. will look into the last 12 months’ data and get back to you in some time
but there is another reason that investor pay high fees for them to buy very liquid largecap stocks. and that reason is mgmt access, which most of us cannot replicate.
in no way am i implying that fundsmith requests material nonpublic information, but i am certain it is delivered to them via many direct c-suite conversations.
Thanks for the comment. However, I personally don't think this is true, as Terry Smith / Fundsmith have been pretty public/vocal on why they buy particular companies and also what those companies are doing right and wrong from a management perspective. So, they purposefully keep an "arms-length" relationship with the management teams to make sure they are neutral in their stock assessments.
Sharad, loved your insights of your portfolio, thanks for sharing. Do you by any chance follow Mohnish Prabai? I see few common stocks.
I am also an equity investor in Indian businesses for 6+ years and run a concentrated portfolio of Edelweiss Financial, Vaibhav global and one SBI Small cap fund (weekly SIP). Im excited about the opportunities which we will have in next five seven years in India. Thanks for inspiring, i would love to share my portfolio performance similar to yours over long term.
Hi Prateek, I do follow Pabrai and have gotten quite a few insights from his videos, especially on the art of cloning!
Cool Sharad, yeah im a big fan of Prabai's Circle the Wagons strategy and his investing style resonates with me too.
You are underperforming in International marker and outperforming in Indian market, why not just invest in Indian market. Why even go for International market? Are you not finding enough opportunities in indian market?
I live in Singapore currently, so I have some savings in Singapore and also some savings in India. If i invest only in the Indian market, i will limit myself to a very small percentage of global investable universe. So , currently I invest in any stock that I find to be undervalued regardless of geography. In terms of performance, I will still give it at least 5 more years to conclude on portfolio performance vs global indices. If , after that time, I conclude that international index will outperform my international holdings, I will move those particular holdings to the global index.
Loved it. Coincidentally I was also writing my own year review; haven’t finished yet. Also some of the holdings are common 😀
Was waiting for your this year's wrap. Would love to read more deep dives into the stocks of course. 2 questions-
1. at what price did you enter Edelweiss. Looking forward to your analysis.
2. did you sell any of your holdings from last year cause of any fundamental change in business?
Thanks for the feedback! My Edelweiss cost base is INR 91/share. There is a good write-up on ValueInvestorsClub which i would recommend reading. Regarding sales: I did trim some holdings. will look into the last 12 months’ data and get back to you in some time
Regarding sales in the last year:
(1) Outright sales due to change vs. my original investment thesis were
• India : KRBL, CSB Bank, Ambika Cotton
• International: Fevertree, Logitech, Postal Savings Bank of China
(2) Trimmed holdings in these due to valuation concerns:
• India : CreditAccess Grameen, EID Parry, Bajaj Holdings, VA Tech Wabag
• International: Spotify, Warrior Met Coal, Reddit
fundsmith is a very good model.
but there is another reason that investor pay high fees for them to buy very liquid largecap stocks. and that reason is mgmt access, which most of us cannot replicate.
in no way am i implying that fundsmith requests material nonpublic information, but i am certain it is delivered to them via many direct c-suite conversations.
Thanks for the comment. However, I personally don't think this is true, as Terry Smith / Fundsmith have been pretty public/vocal on why they buy particular companies and also what those companies are doing right and wrong from a management perspective. So, they purposefully keep an "arms-length" relationship with the management teams to make sure they are neutral in their stock assessments.