Comments on: Me and my biases…

By: amol

amol — Fri, 30 Nov 2012 21:41:33 +0000

subra,

One question

Just curious to know as to how much was your holding time for Apollo stock which you bought at Rs. 9 and sold at Rs. 150.

thanks,
amol

By: Suresh

Suresh — Sat, 13 Oct 2012 16:36:56 +0000

Main aur meri biases aksar yeh batein kartein hain, equity hoti to aisa hota, debt hoti to waisa hota… main aur meri tanhaai..oops biases.

By: subra

subra — Fri, 12 Oct 2012 06:40:43 +0000

I have said this many times in the past as long as one is not a fund manager, he/she can do all combinations. So I have say 50,000 Tata power bought at a price of Rs. 10 – it does not mean i hold on to that for life. I did sell in 2007 simply bcoz i thought a p/e of 100 was not worth for a dividend yield stock. Same basis why LnT got sold. I have Gillette etc. in which I have traded. I have bought sold, accumulated and sold EID parry. Recently I bought lots at 180.

So there is no ONE single method. Yes my ‘average’ holding would be in excess of 30 years…but many transactions would be 5 months, 8 months, 24 months. One cycle for a commodity, ‘forever’ for a HUL, Colgate, Gillette, PnG, Parke Davies, Glaxo….but picking up trading opp even in those. E.g. I had Apollo Hospital bought at 9 and sold at 150. I then again bought at 300+ and sold at 500. Now it is at 700+….so NO FIXED STRATEGY. Beating the fund manager is easy if there is no need to be 95% of equity ALL THE TIME. I can move from cash to equity to liquid fund to debt instruments – a FM cannot.

By: Chirag

Chirag — Fri, 12 Oct 2012 06:21:03 +0000

Hi Subra

Its a pleasure reading this blog and also the comments/responses to your blog. I should first have thanked you for it.

I have a doubt – You say that you portfolio returns beat the fund managers by a good margin. Is it largely through buying and holding for very long periods of time above 5 yrs (which is suspect) or buying , holding for a comparitively shorter period of time (2 – 3 yrs) and selling.

By: Mira D

Mira D — Fri, 12 Oct 2012 05:51:13 +0000

I won’t touch Delhi co’s. burnt with Montari Leather.
Ok, Dabur is Delhi-hq’ed. One exception.

By: subra

subra — Fri, 12 Oct 2012 04:26:40 +0000

Krish how does MY portfolio analysis help YOU? and SIZE? I have time and again said I am about 90% in equities, but the debt should see me through a 10 year bear run…beyond this I am not saying anything about the size of my portfolio. The equity portion beats the best fund managers by a decent margin because of long term holdings. Parts of my portfolio I keep writing about Colgate, Cummins, Hdfc, Gillette, ITC, Hdfc bank, Coromandel International, Cholamandalam, eid parry, Hero, Sundaram, Telco, LnT, tata power, tata steel, tcs, tata investments, indian hotels, carborundum universal, Bharti airtel, eid parry….et al

By: Krish

Krish — Fri, 12 Oct 2012 03:51:29 +0000

Subra. Yes, it would be interesting to know the investment portfolio size and returns over a period of time.

By: subra

subra — Fri, 12 Oct 2012 02:36:25 +0000

not sure from where the bias started. Nagarjuna group perhaps, but till today CANNOT find one good reputed Hyd based company. Only exception being Dr. Reddy’s lab. Jupiter Oranics, gmr, gvk,…the list of cos. i will NOT touch is huge..hence the bias. Too late in my life to change that.

By: Vishnu

Vishnu — Fri, 12 Oct 2012 02:01:54 +0000

Subra,

As always pleasure to read your blog. I would love to hear your rationale (if there is any) behind avoiding HYD based companies. I sincerely hope its the management and not the people in general (prejudice I mean).

By: Hasan

Hasan — Thu, 11 Oct 2012 19:09:58 +0000

subra if u can write something on balance sheet analysis…….maybe once a month.. i know u spend less time on it