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He also mentioned about a news article about Walchandnagar. The article said the
company will demerge into 3 companies. The market apparently did not react to t
he news. Then the company hired GK Pillai as the CEO. Porinju read about the CEO
and found he had a great track record and also turned around a sick PSU. Porinj
u bet on the jockey and the news and bought the stock. The new CEO came in CNBC
and informed about the demerger. The stock ran up 80%. The news was the same but
the medium was different. So with eyes and ears wide open we can have great opp
ortunities.
He spoke about Wockhardt in troubled times. The company had some FDA issues and
forex loss of Rs 1200 cr. The stock was beaten down heavily. The market was eval
uating the stock as if the company will have annual forex loss of Rs 1200 cr eve
ry year going fwd. Porinju bought heavily in his PMS and some clients even left
because of that. The stock was then around Rs 150. Then within 4 years it rallie
d to Rs 2000.
He had invested in Geojith which also became a multi baggers. He said mgmt inter
action should be taken with a pinch of select. For example the very able Swelect
promoter does not encourage analyst interaction , all he wants to say is done a
t the AGM. Another promoter whose company did not do well gave analyst meetings
left right and center.
Porinju gave these examples just to illustrate his hits and misses.
The next session was handled by Rajeev Thakkar of PPFAS. He spoke about new age
tech stocks. Again it was a great learning for me. For me value investors and Go
ogle stock would be like chalk and cheese but his slides showed me a perspective
of a true value investor buying GOOGL. On a not so serious note, he mentioned s
ome of the allegations against Google as
Surround yourself with smart people. It really opens up the way you can
think. Different people have different perceptions and it can only help us
Every single one of the speakers had a different style and all of them a
re successful. So we need to find a way which is suitable for us and also unders
tand there are numerous ways of attaining wealth.
When we speak with experienced people we learn a lot by their hits and m
isses. So theory meets practicals here. The real life examples given by all the
speakers were valuable.
The speakers speak about their failures as a learning experience and not
as a embarrassment.
Couple of coincidences among the speakers