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Annual Investor Letter – 2019-20

Date09 Apr 2020

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CategoriesBehavioral Finance, Factors, Investor Letter, Systems Investing

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 hundred years...

The Most Awaited Bear Is Here. But there is no reason to panic.

Date13 Mar 2020

Posted ByAnish Teli

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CategoriesBehavioral Finance, Factors, Investor Letter, Systems Investing

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 equity markets...

Dalal Street Rules – Years 2015 and 2016

Date02 Jan 2020

Posted ByAnish Teli

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CategoriesBehavioral Finance, Dalal Street Rules Series, Factors

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 years since...

Dalal Street Rules – Year 2013 and 2014

Date10 Dec 2019

Posted ByAnish Teli

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CategoriesBehavioral Finance, Dalal Street Rules Series, Factors

“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 system followed...

Dalal Street Rules – Year 2012

Date14 Nov 2019

Posted ByAnish Teli

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CategoriesBehavioral Finance, Dalal Street Rules Series, Factors

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 strategy. Ajay...

Dalal Street Rules – Year 2011

Date30 Oct 2019

Posted ByAnish Teli

Comment0

CategoriesBehavioral Finance, Dalal Street Rules Series, Factors, Systems Investing

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 didn't start...

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