Investing or Poker: If you Don’t Practice – You don’t play

“I love to practice. I need to practice. How can I skip practice? I need it.”  - Michael Jordan Some days ago at an Investor conference - I talked about what investors can learn from the game of poker. One area I talked about is that in almost all skill games and sports players are [...]

Invesco Partial exit from ZEEL- Learnings from mistakes?

“It’s good to learn from your mistakes. It’s better to learn from other people’s mistakes.”Warren Buffet Invesco bought a 11% stake in Zee in August 2019 at Rs 400 – spending ~Rs4000cr apparently after the promoter’s debt problems were known and, in a bid, to help them.  It intends to Sell 7.8% in a block [...]

ZEE Entertainment – Fool’s Paradise or Ugly duckling?

While, I have stopped actively looking at Zee entertainment and have not followed its results in detail.  I have been pulled back by a number of messages seeking my opinion after the company Q4FY21 results. Some of the points that demand a look at ZEEL are: Improvement in cash flows – a key concern of [...]

What I can Teach Rakesh Jhunjhunwala?

In Q3 FY21 concall of zee entertainment, Rakesh Jhunjhunwala had a disagreement with mgmt about them being conservative about ad growth forecast.  I have tracked and covered Zee entertainment stock for 15 years. My experience says that an analyst and companies’ ability to forecast industry or company ad growth in any given year has been [...]

Lessons from Zerodha – What business are you in?

Nithin Kamath, Founder and CEO of Zerodha, made a few innocuous-looking tweets yesterday which should send the entire broking industry, promoters, and investment bankers into some soul searching.  I had recently read in Simon Sinek book “Start with why”- while most companies are able to articulate what business are they in and how they are [...]