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Weekly Newsletter

Zeal to r

Weekly Newsletter | by 2 | on 2021-08-29 03:56

“There are three competitive advantages in investing: informational (I know a meaningful fact nobody else does); analytical (I have cut up the public information to arrive at a superior conclusion) and psychological (that is to say, behavioural) … the enduring advantages are mainly psychological.” – Nick Sleep
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News you may use

Centre buys record 874 lakh tonnes of paddy so far at MSP for Rs 1.65 lakh crore

Chinese tech stocks fall again after 3-day rally

Chip Shortage: Aug Auto Output Loss Pegged at $500 m -Monthly output likely to be hit by 20-25%; while Maruti has cut production, TaMo, Ford India, Renault-Nissan resort to plant shutdowns

Climate change: It can be $11 trillion opportunity or a $35 trillion threat for India, says Deloitte

Edible oil, pulses main contributors to inflation; price rise to slow once crops come: Govt

FM unveils ₹6L cr national asset monetisation plan – 25 Airports, 31 Major Ports, 900 Coal & Mining Assets In Play

Foreign direct investments rise to $12.1 bln in May: Piyush Goyal

Govt expects Rs 39,832 cr from sale of power generation assets by FY25

Govt Notifies Liberalised Drone Rules -Says rules will bring ‘supernormal’ growth while balancing security

Govt to monetise 25 airports over four years, to fetch Rs 20,782 crore

India Emerges Top Performing Equity Market in the World -Outperforms MSCI World and MSCI Emerging indices by 15% and 29% in past 12 mths as strong retail and institutional flows with better earnings prospects buoy stocks

India has achieved emission reduction of 28% over 2005 levels: RK Singh

India Inc’s CSR spending crosses Rs 1 lakh crore milestone

India pips US to rank 2nd in list of most attractive manufacturing hub globally; China 1st

India startup funds top China in July after 8 yrs – Global Investors Up Funding To Indian Cos Amid China’s Tech Crackdown: VC Firms

India’s GDP likely to grow at 18.5% in April-June quarter this fiscal: SBI report

India’s benchmark indices ended at record closing levels on Friday. The Sensex finished above 56,000 and the Nifty ended past 16,700 — both for the first time

Infra Push: No ownership transfer under Rs 6 lakh-crore asset monetisation plan

Infy 4th co to touch $100bn mcap

Mobile exports grow 250% YoY in April-June

RBI’s forex reserve could swell to $655 billion by March: Report

Squeeze on Afghan spices, dry fruit imports to pinch India; prices likely to soar

Views may be of use

Are We in a Melt-Up?
The S&P 500 recently hit its 50th all-time high of the year and it’s only August. That’s the second most for any year (through August) since 1950. Given this information, many investors are currently wondering: are we in a melt-up? For the uninitiated, a melt-up is a “sustained and often unexpected improvement in the investment performance of an asset or asset class.” Unfortunately, it’s not just the S&P 500 that seems to be melting up. Real estate prices are through the roof (no pun intended) and used cars are now being considered an investable asset class.
Source: https://ofdollarsanddata.com/are-we-in-a-melt-up/

The Majesty of Simplicity
I was accused recently of “not being sophisticated”. I had to chuckle a little bit because that is a criticism that is generally used by someone trying to sell you something. Indeed, once I looked into this particular case, it turned out the accuser is engaged in selling whole life insurance to his fellow physicians. What a terrible legacy that would be to get to the end of your life and realize that you spent a good chunk of it hoodwinking hard-working people dedicated to the service of others into buying a crummy financial product from your firm in order to make your living.
Source: https://www.whitecoatinvestor.com/the-majesty-of-simplicity/

Some thoughts on shareholder voting
Something terrible happened this week. Shareholders voted down Siddhartha Lal’s reappointment as MD at Eicher Motors over a compensation quibble. As someone who turned a near-defunct company into one of India’s finest franchises, creating $ 10 billion value along the way, Mr Lal deserved better. To not reappoint someone who figures in top 1% of Indian value creators is a travesty, irrespective of technicalities in question. To avoid such errors, as well as others of the opposite kind, it’s worth diving into topic of shareholder voting, more generally.
Source: https://buggyhuman.substack.com/p/some-thoughts-on-shareholder-voting

Rules, Truths, Beliefs
Comedians are the best thought leaders because they understand how the world works but they want to make you laugh rather than making themselves feel smart.
Source: https://www.collaborativefund.com/blog/rules-truths-beliefs/

Booming business at dollar stores shows the widening gulf between haves and have-nots during pandemic
Dollar stores, which sell any number of name-brand items, including snacks, toys and holiday decor, have been proliferating for years, particularly in impoverished and rural areas where they are often the only major retailers. The pandemic, though, ushered an influx of new shoppers — including many who had previously been able to buy in larger, more cost-efficient quantities at big-box chains. But with smaller paychecks and rising prices, they say it’s no longer feasible to stock up elsewhere.
Source: https://www.washingtonpost.com/business/2021/08/20/growing-number-americans-are-relying-dollar-stores/

The Disease of More
Life is not a Game of Improvement, but Rather a Game of Trade-offs. Life is an economy. Where everything must be traded for something else and the value of all things rise and fall with the amount of attention and effort you put into them. And in that economy, we each must eventually choose what you’re willing to trade based on what you value. And if you’re not careful with your values, if you are willing to trade things away for the sake of another hit of dopamine, another temporary trip to your own personal psychological 10, then chances are you’re going to fuck things up.
Source: https://markmanson.net/disease-of-more

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