Quality portfolio with long-term returns
How a low-cost Coffee Can helps investors This article first appeared on ET Prime and the original link is here The CCP is a portfolio of high-quality stocks with high RoE and strong fundamentals. But many a times, it comes... Read More →
Vaccine and the wisdom of crowds : How stock markets picked the pharma winners from vaccine contenders
This article first appeared in the Economic Times on 14th Dec 2020. WebLink PdfLink The markets can price stocks much before the official information, based on the wisdom of crowds. The markets seem to be able to price stocks much... Read More →
Dalal Street Rules 2018-2019
Dil hai to phir dard hoga, Dard hai to dil bhi hoga. Mausam guzarte rehte hai – ‘Dil Se’ The above extract from a famous bollywood song were Ajay Kaul’s favorite. It showed the dual nature of life. If you... Read More →
Dalal Street Rules – Year 2017
Year 2017 – The gloom and doom pundits were in business in India. A famous fund manager said demonetization would result in the economy crashing albeit may be for few quarters but the effect would be as extreme as a... Read More →
Annual Investor Letter – 2019-20
Dear Investors, It would be an understatement to say that we live in unprecedented times. While we have seen our share of local epidemics like SARs, MERs, Swine Flu etc. a pandemic of this magnitude was last seen over a... Read More →
The Most Awaited Bear Is Here. But there is no reason to panic.
Dear Investors and friends, This last few weeks are perhaps the most volatile and fastest markets have been in post 2008. We have the distinction of seeing the fastest fall in stock market history ever. In 19 trading sessions most... Read More →
Dalal Street Rules – Years 2015 and 2016
Never send a human to do a machine’s job Agent Smith, The Matrix Aks capital was having the best of times. Ajay Kaul was meanwhile going through a experience which was causing him immense internal dissonance. It had been four... Read More →
Dalal Street Rules – Year 2013 and 2014
“We never believed our models reflected reality-just some aspects of reality.” Nick Patterson, Cryptologist, Renaissance Technologies 2013 was a washout for the broader midcap space. But not for MIDAS. And 2014, the midcap index rebounded with a vengeance and the... Read More →
Dalal Street Rules – Year 2012
All models are wrong, but some are useful. George Box, Statistician The year 2011 had been mildly down for MIDAS but a brutal one for the market benchmarks. Investors were quite pleased with the performance, this being a long only... Read More →
Dalal Street Rules – Year 2011
World Cup is getting hot, Dhoni hits the winning shot. Kalmadi thinks we are retards, Raja gets a "go to jail" card. Anna fasts for Lokpal, Mamata wins her first election in Bengal, S&P Downgrades US Treasuries, adds to our miseries.We... Read More →
