In Bangalore in September 2016~Anyone for Fundamental Equity Research Training?

Hey !

Have been getting repeated requests for Fundamental Equity Training in Bangalore…reminded just today by one more such request from Chitra

🙂 Here I come !

Am Scheduled to be in Bangalore for the month of September 2016 & thought it would be great idea to conduct Fundamental Equity Training while there in one or more of the following formats 

A ~  Full day weekend  (Saturday or Sunday) workshop at a good central location

B  ~ Half Day weekday/weekend  workshop at a good central location

C ~  Full Day weekday/weekend ~ Informal small group of 5 or 6  at my place of residence in a central location

D ~ One to One exclusive sessions  ~Five Sessions of 2.5 hours each spread over September 2016 at my residence in a central location

E ~ Any Format you may suggest giving details

Would appreciate those based in Bangalore & interested to respond on this post or email to me at gaurav@jsalphaa.com  or whatsapp/sms me at +91-9820162597 with the following details :

  • Name
  • Email
  • Mobile No
  • Preferred Training Format A to E 

All Inclusive Fees per participant have yet to be decided but should be inside Rs 10000 for A & Rs 5000 for B,Rs 20000 for C & Rs 50000 for D    

Broking ,Banking,PMS,Mutual Fund Houses,IFA & other Capital Market Interest Groups based in Bangalore can also get in touch with me (gaurav@jsalphaa.com & +91-9820162597) to organise exclusive workshops & presentations to their groups in September 2016

Wealth of Minds & Wealth of Monies must move in tandem

What I shall cover is best conveyed by this repost of mine from my NSE Workshop + Investment Approaches of Warren Buffett & Peter Lynch and Investor Psychology & Mistakes & Irrational Behaviour etc

Wow! A Full House NSE Training Fundamental Workshop !

Sunday, November 1st, 2015 Wow! A Full House NSE Training Fundamental Workshop yesterday !

Seems to get bigger & better every time !

Did the first one on August 8,2015 and had blogged on it  as linked below

Interesting Interaction at the NSE Equity Fundamental Training Workshop

Sunday, August 16th, 2015

Did this one too on “Interpretation of Financial Statements for Stock Analysis” under NSE’s Rapid Series at their NSE BKC Complex

@ 30 Participants,both genders aged 22 to 58 from leading Broking Firms,Corporates,Banks and even Individuals who had come on dot and stayed till 8 pm ! expecting to learn how to read financial statements and  market dynamics to assess risks and opportunities in Indian Equities

Common Question right from Manish Shah,who introduced himself  to me in the lift going up to the Class ” How are the Markets Looking “? ~ “Where will the Sensex & Nifty head in the short term”?

Had taken a Bull along ! really !…a smaller version of the Wall Street one….told the class I love four animals…Elephants (Lord Ganesha),Lions (My Zodiac Sign),Tortoise(Good Luck & of course Bulls (I’m always one!)….and you’ll always find them on my office desk !…in fact four bulls of various sizes !…and clients know my market view on simply seeing how the bulls are placed !…if facing them straight up  (↑)  as they sit across me,I’m very bullish…if slanted ( ⁄ )towards them,I’m bullish…slant inclination reveals how much !….if a horizontal view (↔ ) then indicates market will remain flat to rangebound and if the bulls face me vertically (↓ ) I’m bearish !….and slant facing me shows intensity of being bearish ! read more

Opprobrium~Harsh Censure~ Charlie Munger thrashes Valeant Pharma calling it a sewer

Warren Buffett and Charlie Munger

Came across the use of Opprobrium in context of the shaming the conduct of  Valeant Pharmaceuticals, once the darling of Wall Street

It stands for Harsh Criticism or Censure or public disgrace for shameful conduct…. Valeant has been accused of Price gouging, secret network of speciality pharmacies & fraud  

Always loved the Bluntness of Charlie Munger ,Vice Chairman of Berkshire Hathaway.He’s 92 now and his words carry huge weight

Yesterday at BH’s AGM in Omaha,both Warren Buffett & he took on pre-selected questions for several hours.This Q & A is one of the most awaited sessions at the AGM

A question was asked on Sequoia’s Investment in the embattled Valeant Pharmaceuticals.Warren likes Sequoia but their decision to invest in Valeant was unfortunate  & the manager who made that decision has been fired

Here’s what both Buffett & Munger said on Valeant yesterday

Charlie Munger ~ “Valeant of course was a Sewer and those who are directors deserve all the OPPROBRIUM they’re getting”  

Warren Buffett ~ In my view the Business Model of Valeant was enormously flawed…….one can see patterns of ‘Chain Letter’ Wall Street Schemes….If you’re looking for a manager you want someone who is intelligent, energetic, and moral.But if they don’t have the last one, you don’t want them to have the first two”

In 2015 William Ackman whose Pershing Square Fund has been much maligned for supporting Valeant and taking a huge equity position of @ 9% equity stake in it had sought Warren Buffett’s help in seeking an appointment with Charlie Munger with the then CEO of Valeant,Michael Pearson.Buffett directed Ackman to connect directly with Munger. Munger did not respond…..Pearson is just out and Valeant has a new CEO Joe Pappa

Valeant Pharma’s Share Price  is just under US $ 34 today with a fallen market cap of US $ 11.45 b.It’s crashed from a 52 Week High of US $ 263.81 ! but up from a 52 week low of @ US $ 25

Interestingly,Aswath Damodaran,the Valuation Guru has recently worked out a Value of US $ 43.66 for Valeant with Share Price level at US $ 32 and thinks it’s an emphatic buy ofcourse with caveat.He has taken a position

This has always been my pet theme of debate with many who grudgingly respect my principles but in the same breath think I’m foolish to let go a brilliant investment opportunity !

“Should you always shun a Company which has demonstrated serious lapses on Corporate Governance even if the Share Price & Objective Valuation beckon to buy?” read more

Keep the Faith ! ~ My sister-in-law did ! ~Meaningful Coincidences ! ~ Synchronicity !

Keep the Faith ! ~ My sister-in-law did !

Meaningful Coincidences ! ~ Synchronicity !

Here’s what just happened this morning !

My sister-in-law ( Wife’s elder sister)  left  day before on Tuesday evening to return to Dubai ~ She forgot her laptop after it had cleared Baggage Scanner in the Security Check ~ Two days of Frantic Follow up with the Mumbai Airport was all in vain ~ Till this Morning !

She got back her Laptop in Dubai this morning !

Here’s what had happened !

After clearing security  at Mumbai Airport she had proceeded to board unmindful that she had forgotten her laptop at security ~ an acquaintance from Dubai,travelling on another flight to Dubai and who had cleared security after her overheard the Security Personnel mentioning my sister-in-law’s name as labelled on the laptop.She asked them why and they told her about the laptop.She requested them to give it to her for returning it to my sister-in-law as she knew her  and on being asked for surety she showed my sister-in-law’s name and number on her mobile phone to them .They trusted her instantly and gave her the laptop to carry to Dubai !

Keep the Faith & be Positive is what my sister-in-law had expressed just last night that her laptop would return to her

Wow !

Brought to my mind what I had blogged in 2011 on a personal experience too on meaningful coincidences and Synchronicity,a term coined first by Carl Jung & brilliantly expressed as the first of nine insights  by Author James Redfield in his Book ‘ The Celestine Prophecy’

Here’s the May 2011 blogpost

‘Synchronicity’….Carl Jung coined it to stand for ‘Meaningful Coincidences’….James Redfield used it to introduce his ‘First Insight’ as being aware of ‘Chance Coincidences’…..and I keep experiencing it !

Tuesday, May 10th, 2011

Keep the Faith !

Kingfisher Airlines NPA~Exposes Political & PSU Banks Nexus to Lend against Brand!

Kingfisher Airlines NPA~Exposes Political & PSU Banks Nexus to Lend against Brand

It was clear to me right in 2009 itself of the danger of lending against the Kingfisher Airlines Brand 

This was my Warning on July 23,2009 

Borrowing against Brands !…Interesting,but Risky area opening out !

Thursday, July 23rd, 2009

Multiple Posts on my views on the KFA Debacle &  Vijay Mallya have been categorised above under Kingfisher Airlines ~Machiavellian Mallyas

KFA was my case study at several Seminars & Workshops where I warned  that it was on it’s way to becoming like Global Trust Bank that vapourised and the over 2 lakh shareholders should exit immediately and potential aggressive investors should not get seduced to buy into it !

Who will now bell the Cat and reveal why the PSU Banks actually lend to KFA,especially under the intangible Brand which Grant Thornton had valued at ,I believe US $ 750 m! ….. the Banks were unable to monetise this to recover their dues !….no surprise here at all !….makes to recall how E & Y had valued in just One Day(Company Law Board had pulled them up for this) the Properties at a value in the Satyam-Maytas Deal to fill the hole in Satyam Balance Sheet ! ….in fact the Banks even converted Part Loan to Equity at Rs 64 !  

Clearly Vijay Mallya’s Proximity to Political Leaders had a hand when the Loans were given & even till date this Proximity is the reason for his continuing arrogance and brazenness ! …. his Rajya Sabha MP Candidature from Karnataka as an Independent was supported by a few Political Parties just to defeat the Nominee of another !

I can only surmise that the Glitterrati,especially those who celebrated with him his 60th Birthday in Granduer, & continue to fawn over him and defend him and his son ad nauseum in columns and  on debate panels on TV News Shows have been and/or continue to be beneficiaries of his largesse with public funds,if i daresay ! ~ Nothing is Free !

Shame !!! ~on these 17 Banks & the many years it has taken them to declare KFA & Mallya as a wilful defaulter  & seek his arrest….investigate who in the Banks was responsible to lend in the first place !…the truth will be revealed then as to why they lend & who made them !

Shame !!! ~ on those defending Vijay Mallya…a lawyer on a panel says to follow due process of law….another says he will pay !….if the due process of law was followed  in time then Vijay Mallya would have been history by now !….the irony is that the victims,the KFA Employees ( a captain on a panel voiced this) want him free so he’s able to pay them their dues….for if he goes behind bars so goes their hopes!….a stock market scamster comes to mind who was arrested & convicted as he owed the  banks heavily but has been on bail  on an Apex Court Appeal now pending for years and has been able to repay the Banks despite his accounts being frozen ! ~ tacit!? …think about it !….manipulated & rigged stocks & got into trouble….then manipulated & rigged stocks again to repay !….the World is round indeed ! read more

Equity Meltdown~Pulling out or Putting In!?

Equity Meltdown~Pulling out or Putting In!?

Answer this to define yourself ~ your Investment Mindset now &  your Risk Profile in general  ?

The Question should be surely in your Mind right Now as continuing Global Meltdown forces India Meltdown too with the Nifty & Sensex sinking over 3.3% today to go sub 7000 & 23000 respectively ~ down 23% in 11 months from the highs of  9119 & 30025  in the first week of  March 4,2015

Had warned you’ll in December 2014 that 2015 will be Volatile & Vulnerable and reiterated it several times in 2015….stated that 2016 looks more ominous

Worth reproducing this blogpost of mine of September 4,2015

Hoping for A Merciless Market for Higher Gains at Lower Risk !

Friday, September 4th, 2015

At the time it was of concern that the Sensex had gone sub 25500 but I yet had declared it was not a Merciless Market yet!….that’s when you can get into serious wealth creation opportunities at lower risk for higher gain !

Here’s an extract from what we had communicated  privately in early September 2015

_______________________________________________________________

Hi,

We have been quiet for a few months now for a good reason. Those who are on our fundamental wavelength know what we stand for. .Too frequent communications then would have served little purpose other than the danger of generating ‘Noise’… !

What we did assess with conviction was that FPI Inflows will ebb or even reverse in 2015 from the record inflows in 2014…another reason that should mute markets…as this was played out it was ignored by a frenzied midcap space market that justified it being balanced out by increased retail participation and absorption by increased Mutual Funds Investments 

On ET Now Prime time on March 31,2015 I had aired my fundamental views for the new FY 16 that was dawning to a wider audience than just clients.I had stated that the markets were running ahead of fundamentals

Yet the Smallcaps & Midcaps had raced away in a frenzied climb last six months too & we were being questioned  why we were being relatively more conservative with dependence on Core Scrips weightage as per Risk Profiling and Asset Allocation as a discipline and  refusing to trade in and out of markets furiously especially in scrips that were touted on the street or in stock chats or in networks or on the air by experts on popular stock channels and stock portals….most were justifying the run up and urging and seducing for more participation to those especially  who thought were missing the boat…The Young were inheriting Earth !    read more

Sensex sinks below 24000 & I love it !

Sensex sinks below 24000 & I love it !

Had sounded the alert way back in December 2014 that 2015 would be a volatile & vulnerable year & had reiterated this often in 2015….had opined that FPI Inflows will drop and even reverse after record Inflows in 2014 that gave the Sensex & Nifty the swagger to move ahead in 2014 and early 2015

Global & Domestic Pulls & Pressures were unleashing on multiple fronts across China,Middle East,Russia,Brazil,South Africa in particular

Falling Oil &  Slipping Currencies continue to play havoc with Economies of Countries that depend on Oil Revenues

I’m reproducing an interesting and relevant blogpost of mine just over four months ago in September 2015

Hoping for A Merciless Market for Higher Gains at Lower Risk !

Friday, September 4th, 2015

A few Extracts from the above blogpost ……

_________________________________________________________________

“I’m Hoping for A Merciless Market !  ….that’s when you can get into serious wealth creation opportunities at lower risk for higher gain !

Too frequent communications then would have served little purpose other than the danger of generating ‘Noise’ from the exchanges !

While we are not into Equity Fundamental Advisory for Bragging Rights we must raise this issue to revalidate our cautious view held in 2015

We have held a view of Sensex Range of 25000 to 27000 for most part of this year 2015,especially after it touched 30000 on March 4,2015 after closing 2014 at 27500 levels.

We had opined in December 2014 itself and in January 2015 that the Sensex will record an all time high of 30000 early in 2015 as the three legs of the Equity Table ~Momentum,Sentiment and Liquidity ~ were all in favour although the fourth leg Valuation was beginning to raise an alert on the Corporate Earnings Front 

Early in 2015 we were unable to assess with the required degree of conviction on four domestic factors and three overseas factors that would play out in 2015.Of course everyone had a strong view or opinion on these !…these were :

Domestic Front

  • Significant Rate Cuts demanded by the Corporate Sector to revive Manufacturing Sector  ~ Yet awaited 
  • Corporate Earnings in FY 16 after a bad Q 4 FY 15 ~ Q1 & Q 2 FY 16 seem to carry forward from Q 4 FY 15 ~ Sensex FY 16 EPS projections lowering inevitable 
  • Normal Monsoon ~ After a promising June,it’s been downhill in July and August 2015 and Monsoon Shortfall is now a given
  • Pace of Economic Reforms especially on the GST ,Land and Make in India Initiatives ~ Not much Headway given the Political Opposition that has disrupted and washed out whole Parliament Sessions

Overseas Front

  • Was the record surge of Chinese Stocks backed by fundamentals 
  • Will Greece be bailed out or allowed to default and exit the Eurozone
  • When will the US Fed raise rate 

What we did assess with conviction was that FPI Inflows will ebb or even reverse in 2015 from the record inflows in 2014…another reason that should mute markets…as this was played out it was ignored by a frenzied midcap space market that justified it being balanced out by increased retail participation and absorption by increased Mutual Funds Investments 

On ET Now Prime time on March 31,2015 I had aired my fundamental views for the new FY 16 that was dawning to a wider audience than just clients.I had stated that the markets were running ahead of fundamentals read more