| Author |
Message |
basant
Admin Group
Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
|
   Posted: 19/Mar/2007 at 2:42pm |
Charlie Munger once said: “When they’re talking, they’re lying, and when they’re quiet, they’re stealing"
_______________________________________________
Wonderful.This deserves a mention in that Mungerism thread also.
Edited by basant - 19/Mar/2007 at 2:44pm
|
|
'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
|
 IP Logged |
|
|
|
 |
|
Student
Newbie
Joined: 01/Mar/2007
Online Status: Offline
Posts: 12
|
Posted: 19/Mar/2007 at 9:13pm |
|
It seems that I have ruffled quite a few feathers at forum.
I would like to rest my case by presenting the following
Ajit Dayal and Quantum Long Term Equity Fund.
Quantum Long Term Equity Fund is a novel concept because it is onlyFund in India that is not sold through any “distributor” thereby saving on the expenses which utlimately the unit holders haveto bear. Recently
you would have heard SEBI pulling PruICICI for giving higher commissionsfor its NFO.
In such a scenario and so much shoddy practices to increase AUM, I feltAD has taken a bold approach. That could be the reason why he is talking About QLTEF frequently in order to promote it. Earlier before launching QLTEF also he was coming on CNBC and he has never promoted any of his firms.
Also when he is taking about QLTEF, he is alteast being honest in the sense that he is preaching what he practices, unlike so many analyst who preache something else and practice something else.
Anyway on a more broader note , any analyst coming on business channels is representing some or other firms and have big banners behind them when they are talking.
Value & Price
I never discussed value and growth as I agree that they are two sides of the same coin.
I discussed Value & Price as they are something very different.
‘Price is what you pay and Value is what you get’
It was Oscar Wilde who described a cynic as one who “knows the price of everything, but the value of nothing”.
Debate
I am also a debating by providing a ‘contrarian’ opinion as I believe we cannot develop independent thinking by first rushing to CNBC and Mangalwar Chats and then criticizing those who appear on them. Investing is so much about developing independent thinking.
I regret if I have caused any personal offense but that never was the intention, providing "contrary" opinion was. May be I failed to put in a better way.
Amen
|
|
IP Logged |
|
|
|
BubbleVision
Senior Member
Joined: 05/Aug/2006
Location: India
Online Status: Offline
Posts: 3142
|
Posted: 19/Mar/2007 at 9:34pm |
From Stock Market Wizards.... Forget this at your own peril
Fundamentals Are Not Bullish or Bearish in a Vacuum; They Are Bullish or Bearish Only Relative to Price.
A great company could be a terrible investment if its price rise has already more than discounted the bullish fundamentals. Conversely, a company that has been experiencing problems and is the subject of negative news could be a great investment if its price decline has more than discounted the bearish information.
In his interview, Lauer provided a number of excellent examples of this principle, among them Microsoft, an outstanding company in many respects, but one he considered a very poor investment. In Lauer's words, "This business is not about investing in great companies, it's about profiting from inefficiently priced stocks." When asked for her advice to investors, Galante expressed a similar sentiment: "A good company could be a bad stock and vice versa."
|
|
You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
|
|
IP Logged |
|
|
|
BubbleVision
Senior Member
Joined: 05/Aug/2006
Location: India
Online Status: Offline
Posts: 3142
|
Posted: 19/Mar/2007 at 9:36pm |
Read Dana Galante again.....She was a Pure Short Seller!
"A good company could be a bad stock and vice versa."
A great company could be a terrible investment if its price rise has already more than discounted the bullish fundamentals.
|
|
You can't make money if you are unwilling to lose...It's like willing to breathe in but not willing to breathe out. -- ED SEYKOTA ....Read Disclaimer!
|
|
IP Logged |
|
|
|
Mohan
Senior Member
Joined: 09/Feb/2007
Location: United States
Online Status: Offline
Posts: 1855
|
Posted: 19/Mar/2007 at 10:52pm |
AD has always been a maverick. He has always believed in fundamentals and the results of his MF company are a reflection of his convictions.
WE are here to learn from each other and help each other.
Whether the market is bullish ar bearish someone is always making money.
That is the reason we are here to develop our own analytical skills and benefit from each others expertise.
|
|
Be fearful when others are greedy and be greedy when others are fearful.
|
|
IP Logged |
|
|
|
kulman
Senior Member
Joined: 02/Sep/2006
Location: India
Online Status: Offline
Posts: 9319
|
Posted: 19/Mar/2007 at 11:17pm |
Very true Mohan jee. We are here to learn fom each other & especially we can learn from other's mistakes which is inexpensive.
As far as AD being maverick, your point is noted & accepted.
Just observed that QLTEMF posted approx 8% return in about a year which does not seem that prodigious as it is made out to be. Mind you, that 8% also has no distribution/brokerage costs. Some of its top holdings seem inappropriate.
Disclosure: These are my views and being a novice I could be wrong. If some members are feeling hurt about my remarks/comments, they are free to ignore the same. Pasand apni apni, khayaal apna apna..
Edited by kulman - 19/Mar/2007 at 11:18pm
|
|
Life can only be understood backwards—but it must be lived forwards
|
|
IP Logged |
|
|
|
basant
Admin Group
Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
|
Posted: 19/Mar/2007 at 11:26pm |
Yes, I also saw that 8% return which seemed well below the other established funds in business. With 65% cash in May last year he should have beten all other funds hands down. Seemed that his timing did not help anyone the way it was supposed to. Anyway these arguments will get baseless and sticky the final answer will be in numbers only and I hope that the fund does improve upon them to do justice to the investors who have folowed him. That will be answered only in time but at the momennt after about 12 months of existence he does seem to be behind the curve!
Edited by basant - 19/Mar/2007 at 11:30pm
|
|
'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
|
|
IP Logged |
|
|
|
Mohan
Senior Member
Joined: 09/Feb/2007
Location: United States
Online Status: Offline
Posts: 1855
|
Posted: 19/Mar/2007 at 5:37am |
Originally posted by kulman
Pasand apni apni, khayaal apna apna..
|
I agree completely.
|
|
Be fearful when others are greedy and be greedy when others are fearful.
|
|
IP Logged |
|
|
|
Active Topics
Memberlist
Calendar
Search
Help
Register
Login
