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Premium: Introducing the Big Mo Corner with Mohit Satyanand

Deepak Shenoy4 min read
Quick Facts
What is "Premium: Introducing the Big Mo Corner with Mohit Satyanand" about?
What category is this article in?
Premium
Who wrote this article?
Deepak Shenoy, Capitalmind's research team.
When was this article published?
Published 16 April 2014.
How long does this article take to read?
4 min read
What topics does this article cover?
GuestPost
What does the "Investment Philosophy" section say?
I invest only in stocks. Only. I own real estate, but only real estate in which I want to live, never as an investment, or for speculative purposes.
What does the "My Investment History" section say?
I bought my first shares with my Delhi University scholarship money in the mid 70s. Then, I lost a pile of money playing forward markets (‘badla’ transactions, they were called then) in the early ‘80s. For the next 2 decades, I invested sporadically, with most of my cash going into setting up and sustaining start-up businesses, my Delhi home, a cottage and land in the Himalayan foothills, and in spending 6 unemployed years of ‘vanprastha’ in our hill home.
What does the "Writing" section say?
For some 7 years now, I have been writing for Outlook Money. For the 1st five of those years, I was a Consulting Editor, and oversaw stock recommendations by the team, and supervised all articles pertaining to equity and commodity investments. For the last 2 years, though, I have restricted myself to writing a column – first fortnightly, then monthly, as the magazine has reduced its periodicity.
What does the "My role at Capital Mind" section say?
Deepak Shenoy, who runs Capital Mind, is an old friend, and I deeply respect and admire the quality and depth of his work. Like him, I have an obsessive interest in matters economic and financial. Unlike him, I am not able to spend huge amounts of time researching and writing about markets. I plan to write a column every two weeks, with a specific focus on stocks I am investing in, or think I need to get out of.
What does the "Reaching Me" section say?
I am happy to receive individual mails, and can be reached at [email protected]
What does the "Disclaimer" section say?
Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.

We have a brilliant addition to Capital Mind Premium, in the form of the legendary Mohit Satyanand. Mohit is a good friend and I admire him greatly. He has the uncanny ability to identify stocks both on the long and the short side, and has the discipline and confidence to hold them even when they move adversely. Mohit is supremely fit, and makes some enviable treks in the Himalayas every year, and he stands tall, literally and figuratively.

Mohit brings us the **Big Mo Corner **at Capital Mind Premium, starting with a more relevant introduction in his own words:

Investment Philosophy

I invest only in stocks. Only. I own real estate, but only real estate in which I want to live, never as an investment, or for speculative purposes.

People ask me what my investment horizon is. It is infinite. Honest.

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That doesn’t mean that I will hold every stock till I die. It’s more than likely that my portfolio 10 years down the line will be radically different from today’s holding. But, when I buy a stock, it is never with a restricted time perspective. I buy a stock only if it fulfils several criteria – of which more later – but primarily if I value it as being worth at least 30 to 40% more than the Current Market Price (CMP). Once I have a stock in my portfolio, the bias is to hold it, as long as the sector has a visible time horizon, and the company is doing well. The bias means that I will hold it as long as it is not over-priced by more than 25% or so. Effectively then, for any given share, there is a broad band of about 50% around the market price when I am coasting along in neutral territory, neither a buyer, nor a seller. This is a sweet spot in which to be, and if the company’s performance and share price keep moving along the same broad path, it can be a very gentle and rewarding ride.

My Investment History

I bought my first shares with my Delhi University scholarship money in the mid 70s. Then, I lost a pile of money playing forward markets (‘badla’ transactions, they were called then) in the early ‘80s. For the next 2 decades, I invested sporadically, with most of my cash going into setting up and sustaining start-up businesses, my Delhi home, a cottage and land in the Himalayan foothills, and in spending 6 unemployed years of ‘vanprastha’ in our hill home.

Since 2003, though, I have been a systematic investor, managing both my personal portfolio, and the investments of the immediate family. I hate paper-work and maintaining records, but investment activity requires a certain amount of discipline in this regard. Also, since the amounts I manage have now become pretty substantial, I have promised myself that I will stay in the game only as long as I am ahead. Again, this means that I need to precisely track how I am performing against the benchmark indices.

I have told myself, my stock broker and my chartered accountant that, if I under-perform the Nifty for 2 years running, I will liquidate my portfolio, and put the entire proceeds into a Nifty-linked ETF. Notice, I don’t intend to get out of equities – ever.

Writing

For some 7 years now, I have been writing for Outlook Money. For the 1st five of those years, I was a Consulting Editor, and oversaw stock recommendations by the team, and supervised all articles pertaining to equity and commodity investments. For the last 2 years, though, I have restricted myself to writing a column – first fortnightly, then monthly, as the magazine has reduced its periodicity.

My role at Capital Mind

Deepak Shenoy, who runs Capital Mind, is an old friend, and I deeply respect and admire the quality and depth of his work. Like him, I have an obsessive interest in matters economic and financial. Unlike him, I am not able to spend huge amounts of time researching and writing about markets. I plan to write a column every two weeks, with a specific focus on stocks I am investing in, or think I need to get out of.

Aside from this, if I see anything in the markets, the economy, the regulatory environment, or company specifics, which dictates some action, I will post an ad hoc piece to Capital Mind, and I am sure Deepak and his colleagues will find the right way to get it out there.

Reaching Me

I am happy to receive individual mails, and can be reached at [email protected]

Disclaimer

Nothing in this newsletter is financial advice and should not be construed as such. Please do not take trading decisions based solely on the matter above; if you do, it is entirely at your own risk without any liability to Capital Mind. This is educational or informational matter only, and is provided as an opinion.

Disclosure: The authors at Capital Mind have positions in the market and some of them may support or contradict the material given above, or may involve a direction derived from independent analysis.

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Tagged:GuestPost