Investing

The futility of analyst recommendations

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We analysed over 2,000 analyst recommendations (upgrades and downgrades) made by institutional equity analysts over the last ten years for the 50 Nifty stocks. We measured the 60-day return on the stock after the recommendation to see how those analyst recommendations fared.

Here’s what we found

Keep your investing identity small

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Instead of thinking of our chosen investment style as a fortress to be defended from attacks at all costs, maybe think of it as an idyllic picnic spot. We happened to find one on a stroll, put down our blanket, and enjoyed a leisurely lunch. We will be ready to move on because we know we can return. But for the duration we’re there, we probably won’t be sending up flares announcing its location to the world.

Let’s talk investing with Raunak Onkar

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In the ‘Let’s talk investing‘ series, I spoke with Raunak Onkar, head of Research, and Fund Manager at PPFAS Mutual Fund. In this series, I write about my conversations with investment practitioners, people with real-world investment decision-making experience. My objective in these conversations is to understand their investment philosophy and process, to demystify, at least … Read more