Objective is to invest taking concentrated bets for the long term, following altering balance in the aggressiveness-to-defensiveness continuum, which is attained through diversification of cash flow streams, choice between predictable vs. growing cash flow streams and cash calls (pooled vs. model portfolio).
Companies with strong fundamental, proven track record and with high growth potential
Key Attributes
Inception Date: 01-Jun-2016
Number of Stocks : 24
Fund Manager Name: Sachin Khivasara and Jigar Mistry
Fund Manager Experience: Sachin Khivasara : Total experience 20 years; Jigar Mistry: Total experience 19 years
Fund Manager Qualification: Sachin Khivasara : BCom, ACA, CWA; Jigar Mistry: BCom, ACA, CFA Charter holder (US) Investment Objective - Objective is to invest taking concentrated bets for the long term, following altering balance in the aggressiveness-to-defensiveness continuum, which is attained through diversification of cash flow streams, choice between predictable vs. growing cash flow streams and cash calls (pooled vs. model portfolio). Investment Strategy - Objective is to invest taking concentrated bets for the long term. Our investment framework follows altering balance in the aggressiveness-to-defensiveness continuum, which is attained through diversification of cash flow streams, choice between predictable vs. growing cash flow streams and cash calls (pooled vs. model portfolio).
Investment Objective
Investment Approach
Cannot know the ‘macro future’ (economies, markets or geopolitics with any reasonable certainty
1. Macros matter, but mining it as investment edge is nearly impossible
2. Share price growth more a function of earnings growth
Portfolio optimization(balance of aggressiveness /defensiveness) is critical
1. In long-term, trading is a zero sum game
2. In the short-term however, things fluctuate between ‘flawless’ to ‘hopeless’
3. Balance is adjusted based on earnings / credit / investors’ psychology cycles
Risk is not volatility of returns
1. It is (a) likelihood of permanent loss of capital and (b) opportunity risk
Creating wealth should be a source of pleasure
1. Taking too much risk interferes with that