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basant
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Quote basant Replybullet Posted: 06/Sep/2006 at 10:58pm
Great question. Thank you so much for asking me this question. I do not think that there would be much of a difference between what i would want to start and what I would like to run so I am giving one answer for the two questions.
 
1) I do not want to be in a cyclical. Earn for 3 years and then cry for two and then earn for three. I want sustained growth.
 
2) No manufacturing. They always need cash. I am more interested in something that does not need fresh cash. SOmething like a software product company where you do not need additional doses of cash.
 
3) Ity should be consumer centric it helps in two ways
      a) Cuts down the recession part at least in India
      b)  consumer centric companies do not face bad debt
 
 
4) There has to be scale. I should be able to increase revenues very fast without any time lag.
 
5) Do not prefer much use of technology as in technology any new product could wipe me out without a noise!
 
 
That is exactly the way I look fo stocks! I think of myself as owners of pieces of business in the stocks that I own.
 
On a lighter note my dream job is to sell "kachauri sabji jalebi to morning walkers at 6.30 in the morning."  Never heard a sweet shop/kachauri sabji walla close down!
 


Edited by basant - 06/Sep/2006 at 10:59pm
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Quote reetesh Replybullet Posted: 06/Sep/2006 at 11:25pm
Wow we have something in common because even I want to star this sabji kachauri business in Bangalore there is huge demand for that people like me there are many try and find shop where we can find these things, like in Calcutta there is a shop called NASTA I dont know weather you are aware of this like that only, frankly this business in my mind if done properly would be Indias answer to Mc.Donlads.
 
But when you said there is no difference in 2 of my questions there is one. one you will start from ZERO and another you  are buying  so initial pain is negated. Anyways you must have gazed from my most of the questions that I am also interested in business which is directly related to consumers.
 
That is why if you have money then investing is also a great business, say for example Sayaji Hotel is more or less same thing that we are talking about management is doing all the hard thing, but investor like Rakesh will equally reap the benifit when the business matures. But in no way I am saying that Investing is easy, but something is life is natural.
 
regards,
 
Reetesh.
When going gets tough, that’s when tough (people) gets going.
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Quote investor Replybullet Posted: 07/Sep/2006 at 12:58pm
Hi Basant, just wanted to point out something here. You mentioned

2) No manufacturing. They always need cash. I am more interested in something that does not need fresh cash. SOmething like a software
product company
where you do not need additional doses of cash.

this is a big myth....the biggest problem in sw companies is manpower,
and for product companies you need very good and experienced people,
for which you need to pay a lot. So as compared to a software services
company, product companies will always keep buring up a lot of cash,
and will need regular inputs of cash from their VC investors to keep them
going, coz until and unless their product finds a buyer/market, they will
not have any revenue stream at all. So unless the product based companies
already have some prospective customers lined up, it is extremely risky.
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basant
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Quote basant Replybullet Posted: 07/Sep/2006 at 1:14pm
Hey Software product was just an example if you would have read through the next point I have indicated that technology is a very complex issue and managing over 50,000 smart skilled work force is no small job.
 
ANy way good product companies do not need additional manpower/cash. Something like an EDucomp where the ramp up could happen very fast.
 
Now VC companie are generally below the US $ 10 million range and most of them are not consumer centric. The moment you become consumer centric the business model will become very easy and deliverable. More so majority of  VC companies are tech oriented.
 
 
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
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Quote omshivaya Replybullet Posted: 08/Sep/2006 at 11:33pm
Basant jee, I think I saw somewhere that you wrote that you would sell off tv18, pantaloon around 2010? Then, from today in 10 years, what stocks would you hold?
The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it
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Quote basant Replybullet Posted: 08/Sep/2006 at 12:05pm
Yes, 2010 was the final point and in between we would assess the situation in 2007 -08 that would tell us as to what is coming. this is very interesting. About 3 years back I had read Jim Roger's book and there I was told that Jim retired at the age of 37- In 2010 I will aslo be 37 years old. You could call me a copy cat but co-incidentally retailing and broadcating would have reached their peak at that time or slightly before.
 
You would agree that it is too soon to take  a call as to what we would do after that since we live in an ever changing world. I would be in some growth stocks or some where where the risk reward ratio is high but favourable. Inspte of liking  HDFC Bank and HDFC   from the core of my heart I would not be able to buy them and rest in peace as many of my friends keep telling me.
 
Internet could be very very big by that time. too early to take a call. but just look at this
1) Broadband could grow by upto 15 times from  1.3 million to 20 million subscribers in 2010
2) The total internet users will be 20 crores - up by 10 times till 2010.
 
That is why I fancy TV 18


Edited by basant - 08/Sep/2006 at 12:07pm
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Quote omshivaya Replybullet Posted: 09/Sep/2006 at 10:50pm
So why sell TV18 then in 2010? If these are going to become the largecaps of tomorrow, dont you think holding onto them would be a good a safer bet, for a good 25-30% growth from thereon?
 
 
The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it
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Quote basant Replybullet Posted: 09/Sep/2006 at 11:18pm
Very difficult to take a decision looking so far into the future
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