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Zeal to Read Weekly Newsletter

Trading

Zeal to Read Weekly Newsletter

Trading | by 2 | on 2021-04-25 12:00

At Zebu we spend a lot of time reading news and articles that cover a wide range of topics, including investment analysis, psychology, technology, etc. We have been sharing our favourite reads with clients under our weekly ‘ Zeal to read ’.

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“You get recessions, you have stock market declines.  If you don’t understand that’s going to happen, then you’re not ready, you won’t do well in the markets.”- Peter Lynch

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News you may use

Cabinet gives ex-post facto approval for amendments to Finance Bill, 2021

Cabinet okays subsidy for urea produced via coal gasification

Care Ratings revises India’s GDP growth forecast to 10.2 pc for FY22

Consumer confidence weakens in April as covid-19 cases once again disrupt normalcy

EPFO net new enrolments grow nearly 20% to 12.37 lakh in February

Essential agri commodities exports up 18% in Apr-Feb

Farm exports up 16.88 pc in April-February FY21

Financial Stocks See Most Selling by FPIs in April – Selling in April highest on a fortnightly
basis since the second-half of March 2020

Government may frontload its Bank Recapitalisation Plan

India ranks 87th in global energy transition index

I-T refunds worth Rs 5,649 cr issued during April 1-19

Less than four percent Indian farmers adopted sustainable agricultural practices, says study

LIC’s March policy sales grow 299%

Localised lockdowns already hitting economic activities: Report

Lockdowns: No immediate financial aid to migrant workers

NBFCs Get Nod to Function in GIFT – Cos can offer services such as loans, exotic derivative trades and investment banking

RBI activity in forex market balanced, not accumulating reserves, says Commerce Secretary Anup Wadhawan

Retail Auto Sales may Skid in April on Covid Curbs

Rs 30,000 cr of disaster funds given to states in one year

SBI cuts FY22 GDP growth to 10.4%

Sugar firms contract over 83% of 6 million tonnes export target

Unemployment in urban India surges to 10.72%: CMIE

Views may be of use

How to: Due diligence in 48 hours

Ben Claremon, portfolio management of Cove Street presented to the U Ben Graham program students of UCLA a distillation of the due diligence process. I have transcribed the checklist he uses from this 1 ½ hour long talk on what he calls “The 48-hour investment process”.
Source:(https://roiss.substack.com/p/how-to-due-diligence-in-48-hours )

David Booth: five timeless investment lessons I’ve learned

Early in my career, I was lucky enough to work on one of the first index funds. It was an incredibly exciting time, because before that the only equity option for investors was to pick stocks. The academic evidence from people like Gene Fama—my graduate school advisor, who would later be recognised as a Nobel laureate — showed there was a better way to approach investing, but no one had put it into practice yet. So we did. Forty years ago, we started Dimensional Fund Advisors because we believed there was a way to invest that was better than stock picking and improved upon index funds.
Source:(https://www.evidenceinvestor.com/david-booth-five-timeless-investment-lessons-ive-learned/   )

Context over individuals: Whether investing or life, context is underrated, individuals are overrated

Public market context is great at the front-end but problematic at the back-end. Like Arjuna’s quiver, manic depressive Mr Market is an inexhaustible source of opportunity.  Private equity context is great at the back-end but problematic at the front-end. PE has locked-in, long-term funds that are drawn down over 4-5 years at investor’s discretion. It can’t get better than this to invest only when appropriate. Unfortunately, front-end is Mr Promoter, not Mr Market. Not only is he rational, he’s better informed.
Source: (https://buggyhuman.substack.com/p/context-over-individuals  )

Investments and expenses

One goes up in value, the other doesn’t. One creates value over time, the other doesn’t.
Source: (https://seths.blog/2021/04/investments-and-expenses/ )

What Makes A Good Side Hustle?

Can you believe 1 in 3 working Americans have a side hustle? More and more people are working extra outside of their primary work every year. Life is tough for many of us. This is very different than when I was growing up.
Source: (https://retireby40.org/what-makes-a-good-side-hustle/ )

What Information Do You Need in Order to Change?

We all want to improve at something. Skills we’d like to develop, habits we like to change, relationships we’d like to improve—there are lots of areas where we’d love to see positive, meaningful change. Sometimes though, we don’t know how to keep moving forward.
Source: (https://fs.blog/2021/03/feedback-change/ )

Nvidia CEO Jensen Huang interview: From the Grace CPU to engineer’s metaverse

As a policy, or not a policy, but as a philosophy, we tend not to do anything unless the world needs us to do it and it doesn’t exist.
(https://venturebeat.com/2021/04/17/jensen-huang-interview-from-the-grace-cpu-to-engineers-metaverse-of-the-omniverse/ )

Noise: A Flaw in Human Judgment

This is a fascinating exploration of the bias and “noise” that cause errors in human judgment. Noise, they write, is “variability in judgments that should be identical” that, when combined with one’s own biases—conscious or not—can cause human error. The authors offer no shortage of noise-reduction strategies: “decision hygiene,” for example, involves sequencing information to cut back on the possibility of confirmation bias, a technique used in forensic science analyses, where examiners get “only the information they need when they need it.”
Source: (https://www.publishersweekly.com/978-0-316-45140-6 )

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Note: the above material is neither investment research nor financial advice. Zebu Share and Wealth Managements Private Limited [SEBI Registration No: INZ000174634] does not seek payment for or business from this email in any shape or form.

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