Exclusive Interview with Saurabh Mukherjea, Marcellus Investment | IIFL Securities | Sheetal Agarwal
ฝัง
- เผยแพร่เมื่อ 4 ต.ค. 2024
- In an exclusive interaction with IIFL’s Sheetal Agarwal, Saurabh Mukherjea, Founder and Chief Investment Officer, Marcellus Investment Managers discusses his investment approach. He prefers companies following strong accounting practices, with a dominant position and providing essential products and services.
HDFC Bank, TCS, Bajaj Finance, Kotak Mahindra Bank, Nestle, Pidilite, Asian Paints, Infoedge are among his top picks.
TimeStamp:
0:30: Strategy to be adopted by retail investors
1:58: Has there been an improvement in accounting practices of India Inc?
4.00: Picks in the BFSI space
7:30: Top picks among companies with dominant positioning
10:05: Valuations - Why consider free cash flow growth versus P/E or P/B?
15:00: Why buy Nestle, Asian Paints, Pidilite, among others
16:08: View on IT services companies and technology companies
20:50: Why is he bearish on hospitality and aviation companies?
23:00: View on metals and mining sector, Tata Steel
24:40: Key downside risks
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What an interview... Amazing. Hats off to the host. She seems to be more patient and sensible than so many other so called hosts on TH-cam.
Many thanks for the kind words 🙂
I guess it's kinda off topic but do anyone know a good site to watch newly released movies online ?
It's a pleasure listening to Saurabh. Very few in the financial world can match his oratory skills and connect with the retail investors. He has been instrumental in destroying the illusion that investing is a fiefdom of the elite.
yes. agreed 100%
nicely put buddy.
Could not agree more.
@Tobias Tommy WHAT WAS THAT ??????
Yes, it is true. He has also made few millioners from middle class with his stock picking idea.
I am a beneficiary of his advise by buying pidilite, garware technical fibres and recently, Fine organics. He democratised investing by his advise.
He talks from his heart, does not hide his portfolio open to public,so has the confidence it will do well.
Mr. Mukherjea has finally started capitalising on his appearances. He appears/ has appeared on almost every market related channel/talk show on TH-cam and has started promoting his books. Just think about how good the quality of books must be, he has such clarity of thoughts!!
Saurav, I am immensely pleased with your consistency of thought process.
Few scrips that Saurabh pointed out are :- KOTAK BANK / HDFC BANK / BAJAJ FINANCE / NESTLE / INFO EDGE / ASIAN PAINTS / PIDILITE / TCS / JUBILIANT FOOD WORKS.
Wait did he actually suggest Jubilant food work😂 once he used to say that Jubilant food works isn't a good quality company
He also is a big supporter of Chemical stocks like Alkylamine and Navin Fluorine...
He never suggested jubilant food works. There is a difference between mentioning a company as part of an example and actually recommending it. He just said that how jubilant food works being in the pizza industry can't become a monopoly as there are lot of competitors out there.
Abhishek, he doesn't suggest or advise for us to buy or sell. He says he is building his position one specific stock.
Nanri
Most sensible, rational talk
What a different way of looking at investments, especially from a retail investor’s viewpoint
Hi I
Nestle, pidilite, divis, Asian colour..
Madam my request is try to give sub Titles , whatever you question speakers and what reply they give.
Excellent words and it will help lot of new or existing investors on there investing in share market... I request all to go through caffee can investment....
Would love to know from Saurabh about chemical companies like Deepak Nitrite,Aarti industries,Navin Flourine. These companies along with the likes of Alkyl Amines and Balaji Amines have made tons of money for the investors and chemical sector is poised where IT was in early 2000 as rightly said by Saurabh.
Madam try to give sub-titles whatever you ask or answered by analysts, so that it will be clear.
Companies with fabricated accounts will destroy wealth. Dont i know that too well. Till 2019 i used to practice bhellu investing which is another word for where a company with great numbers has low price while buying and after two years same if not lower. Kicked out the entire lot and am in quality now. Atleast downside is protected. Good riddance.
P/ E do matter but it is not only one factor. I do agree that highly capital intensive industry like airlines have not given great return in India but is is also fact that Waren Buffet had airlines in his portfolios and sold them last year after Covid 19 pandemic. Viewer please exercise caution and do not believe in any theory. Making money is not easy.
Buffett had always stayed away from Airline stocks and for the same reason Saurabh states. But went against his logic in 2019 and bought airline stocks, which was an expensive mistake for him and his company.
Watch Terry Smith's presentation. Airline has not given return anywhere in the world. Because its RoE is lower than CoC
We can't compare usa & india. Because in usa domestic airline market is very big.
Why does the strong franchise gain market share during the crisis ? Any specific reasons?
There cost of capital is lower than the peers. Strong business hence hickups during crisis are better handled.
Just look at the formula for ROCE. It's essentially EBIT over (Equity + Debt). First, the larger dominant players don't have to take on debt to perform during crisis. Second, with the lowering of borrowing or financing rates, the (interest) part of EBIT automatically comes down, pushing towards a higher PAT or Net Profit, pushing up the EPS and lowering the P/E multiple.
Any monopoly business that consistently builds their cash flow year after year will always be in a position to use the extra capital to capture market share when other businesses in their industry fails.
Sir any conclusion on AU..finally
Check out the interview/webinar in Marcellus TH-cam channel with the AU Bank's promoter. Most of your questions are answered, albeit indirectly.
Tata elexi
👍
Hii sir
This way of thinking is not correct. There are hundreds of companies out there that merit investment. Obviously you shouldn't buy all of them but whenever valuation comfort is there, buy some.
you call it exclusive interview. but this gentleman keeps of repeating same things in almost every interview. he keeps on harping about his choice of companies he invested in. does he care about valuations when he shamelessly advises people to buy those companies?
how can he predict growth of free cash flows for next 25 years? It depends of numerous factors which are beyond any prediction. And he fools people saying such a company (that he predicted) is worth buying at 280 PE mulltiple. Abey chu samja hai kya?
He simply wants his set of investments to grow without doing much brainstorming or taking risk of switching investments. Like many others he is good at fooling people.
lol..interview was good but when he discusses the stocks in specific like hdfc bank, so it s another promotional video
Saurabh seems to be wearing an old Jockey Tshirt ;-) Could have dressed better for a video interview.
lol he chooses companies by his choice to prove why PE valuation would not work. That is complete nonsense. Tell me what works for him, then i will choose examples by myself to prove that his parameters of valuation don't work. How s he rated one of the best, I wonder. He is good i think just at marketing.
Purely legal Harshad Mehta .target kar liya toh usko uta hi dega. Why any MF fund manager are not buying much ...keep in mind.it is trap
All these are large cap companies with extremely high volume. A few retailers buying it won't make any difference.
yes, one pms target karke Nestle ko uta hi dega. What are you smoking bro?
What only targeting nestle What is actual return of nestle in 10 yrs -4x .kisi chutiye stock mein bhi invest kiya hota toh itna kama leta including psu.what the fuck PMs fund manager hai .hul RIL jaise share bhi iske league mein nahi hai jo ki nestle se jyada paisa bana diya..every stock has its own story and grows.once any PMs tells retail customers And others gets attention to buy .not because of story but someone told before PMs purchase by targeting individual stock
@@ranjaykumar331 dude are you high or what. None of the notable PSU stocks have given more 2x appreciation on the stock price.
And nifty itself has only gone by like 2.5-3x over the past decade. In the same period Nestle which is one of the biggest laggard suggested Saurabh has gone up by 5-6x beating Nifty by a huge margin
@@ranjaykumar331 and the retailers can cause no considerable difference in the stock price of large cap companies in the long term. I guess your knowledge about stock market is solely from Scam 1992😂
what nonsense he talks? investment is not about buying AT EVERY VALUATION the companies that have monopolies ... good that Bajaj Fin, HDFC Bank hav low NPAs (which itlsef is disputed) but we can't buy them at super high valuations. I think his full time job is to do the marketing of his own investments. Useless fellow.