Category: Decision Making

What Went Wrong at VIP Industries – When VIP Industries Met Murphy’s Law

Reading Time: 5 minutes Murphy’s Law says: “Anything that can go wrong will go wrong“. Today, the management of VIP Industries would probably agree to it more than anyone. Let’s see what went wrong at VIP Industries. We have extensively covered (here and here) the progress of VIP Industries over the last seven quarters. Recently, COVID-19 has led to […]

How to spot a multi-bagger? – Candor Investing

Reading Time: 17 minutes We have had one of the worst economic shocks the world has seen in recent history because of the Covid-19 global pandemic. Big money is made in stocks when one invests when the macro-economy is down and the markets are also wobbly.We definitely have one of the above conditions satisfied. As to whether we are […]

Most Common Causes of Bad Decision Making and How to Get Better

Reading Time: 17 minutes “In any moment of decision, the best thing you can do is the right thing. The worst thing you can do is nothing.” — Theodore Roosevelt Hundreds of super-smart people have written thousands of books on decision making. Many of them have won the Nobel Prize and other prestigious awards.  I have never won an award in […]

Will market coupling destroy the IEX monopoly? – Candor Investing

Reading Time: 12 minutes On 18th Jul-20, Central Electricity Regulatory Commission (CERC) came out with a draft regulation which suggested sweeping changes to the design of the power markets in India.Draft Power Market Regulations (2020) There is one very important proposal in this draft regulation that of “Market Coupling Authority”Now, what is this “Market Coupling Authority” and what purpose […]

The Circle of Investing – Part I – Factsbeyondnumbers

Reading Time: 7 minutes Below are points to set some context around intent and objective of article so that you can take a call if it is worth your time: The intent of this post is to provide understanding of multi-disciplinary areas of investing including fundamental analysis, technical analysis, quants investing and application of machine learning in investment journey. […]

My notes from various annual reports for 2020 – TCI Express – Factsbeyondnumbers

Reading Time: 3 minutes Continuing with more annual report reading, this is one of cleanest and simple AR I have read. To add, impressive performance history, a good company to keep on watch list in double digit growing logistic space.   Notes from AR 2020 Company Introduction: Company is express logistic provider which provides fast, reliable, on demand, integrated, […]

“Say: Do” Ratio- A Reliable Metric to Assess Management of Businesses

Reading Time: 3 minutes “I will call you on the weekend.” “Let’s have lunch sometime.” “I will follow up tomorrow”. “I am really busy at the moment but would definitely check the mail in the evening and revert”. We often make these statements all day long to people around us. Do we really check later if we actually perform […]

My notes from various annual reports for 2020 – Syngene International Limited – Factsbeyondnumbers

Reading Time: 4 minutes Notes from AR 2020 Key business updates: Integrated research, development and manufacturing organization providing scientific services from early discovery to commercial supply for pharma, biotech, nutrition, animal health, consumer goods and specialty chemical companies Company provides discovery services, development services, manufacturing services and dedicated R&D centers for clients Laboratories in Bangalore and Hyderabad and manufacturing […]

My notes from various annual reports for 2020 – Ajanta Pharma – Factsbeyondnumbers

Reading Time: 4 minutes Ajanta Pharma: Notes from AR 2020 Key business updates: Ajanta pharma is a specialty pharma company engaged in development, manufacturing and marketing of quality finished dosage. 70% of business comes from branded generics and 30% comes from generics in USA and anti-malarial institutional business in Africa Company has done Rs 2588 crore of revenue, has […]

Annual Report Review of Crompton Greaves Consumer Care – Factsbeyondnumbers

Reading Time: 4 minutes I had first written about this company and management in 2017 which is available here It is good to see management having a clear cut communication and delivering continuously (keeping share price aside). Here is notes from 2020 annual report Notes from AR 2020 Key business updates: Company is a major player in fans, […]

My notes from various annual reports for 2020 – IT Sector (L&T Technology Services) – Factsbeyondnumbers

Reading Time: 3 minutes After going through few annual reports in pharma sector, now is time for IT sector. Will be posting and updating IT sector annual reports here. To start with, below are notes for L&T Technology Services   L&T Technology Services: Notes from AR 2020 Key business updates: Technology company present in 5 verticals Transportation (35% of […]

My notes from various annual reports for 2020 – Neuland Laboratories Limited – Factsbeyondnumbers

Reading Time: 6 minutes Notes from Annual Report 2020 Key business updates: Company is focused on API business. The business is focused on GDS and CMS Further, GDS has prime APIs and specialty APIs Across these two verticals, expertise extends to both small molecules and peptides Company has successfully cleared 15 USFDA audits so far Two audits were cleared […]

Is the stock market going to crash again? – Candor Investing

Reading Time: 12 minutes The year 2020 has been eventful for the equity markets.Covid-19 Coronavirus was first detected in China in Dec-19 and quickly spread throughout the world. Though we have past precedents of different strains of Coronavirus spreading like SARS, MERS, Ebola etc. Covid-19 spreads much faster than all the previous instances. The black swan event for equity […]

How to detect Accounting Frauds – Candor Investing

Reading Time: < 1 minute In the below video, I analyze a MNC company from the hot specialty chemicals sector.This video re-emphasizes the importance of “management quality” and has some great pointers to detecting accounting frauds. If you want to learn how to detect accounting frauds, I have also developed a course on “Forensic Accounting for Investors”You may check out […]

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