A blog which periodically revisits evergreen investment principles!

Author: Raunak Onkar Page 4 of 8

Raunak Onkar heads the Research department at PPFAS Mutual Fund. He started his career at PPFAS as part of his internship during MBA.

He holds an MMS (Finance) degree from the University of Mumbai.

Where to keep my smartphone when I’m researching companies?

The longer version of this post’s title was supposed to be:

Where to keep my smartphone while researching companies – How I learned to stop worrying about my notifications & love my work.

Well, it was never meant to be perfect.

Now that I’ve lost your attention, let me bring it back to something much more important.

I’ve always wondered why people used the phrase ‘pay attention’. Why ‘pay’? Why not just ‘give’ attention. Certainly it conveys the same intent. I think it makes a lot of sense when we think of it as a metaphor. We are in a sense, literally paying with our mind’s cognitive capacity to focus on something when we are paying attention.

Too Much Trust…

Risk aversion is what keeps the market honest & sane

– Howard Marks.

Is there something like ‘too much trust’? Can there be a situation where we so blindly accept our fate in the future that we forget that there ever was something like uncertainty?

How to build conviction while investing

circulation-tia-how-to-build-conviction-001On the January 28th, 2017, I was given the rare privilege of addressing a room full of serious investors from the Tamil Nadu Investors Association (TIA). An organisation that has been dedicated in educating investors for the past 26 years. I spoke at the Bullet Proof Investing Seminar.

I spoke on the topic of building conviction in investing. Instead of a blog post on it, here’s my entire slide deck with heavily summarised notes.

Slides – How to Build Conviction

The entire event was very well organised & I urge you to consider making a trip to Tamil Nadu every year, to attend it. Here’s a list of the other talks delivered at the seminar.

The Infrastructure and Investing

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Source: Image from the film “Sully”

No one has ever trained for an incident like that.

– Captain Chesley “Sully” Sullenberger (Sully, 2016)

I watched the film Sully, recently. It’s a story about something that happened in USA, why should it really matter to us? After watching the film I realise how much we underrate the importance of the infrastructure that is around us. In direct relation to the film, The safety board, the aviation unions, the emergency services, the ATC crew, the flight crew. The image, sourced from the film, attests to the fact that it does take a collective effort to make things work smoothly.

Can an investment process, Rust?

Only entropy comes easy.

– Anton Chekhov

Have we ever wondered why things rust? I mean apart from the chemical process permanently changing metals, rust is quite a fascinating phenomenon. For investors like us, rust comes in the form of two things, inflation & cost of capital. For the physical world, rust is still the chemical process where metal corrodes as it ages. As investors, what we fear though is a threat of moral corrosion than a physical one. More on that later.

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