h/t to @BilionairBurner

Looks like I’ve been graced with the honor of tweet theft by none other than @QCompounding. If only it were a more prominent plagiarist perhaps I’d have bragging rights

I’ve enjoyed learning more about Rakesh in recent months. For anyone interested in reading the full article: There is a wealth of additional Rakesh content on the web

Rakesh’s 10 commandments for investing:

Rakesh’s 10 commandments for trading:

…profits rather than worrying about the absolute quantum of profits. The opportunity should be so compelling that we should not need to interact with anyone before seizing the opportunity. We should invest first, investigate later.”

On ignoring precision and acting quickly: “Fundamental analysts are obsessed with predicting profits correctly, forgetting that we are investing in an uncertain future, and in the realms of possibilities. When I make an investment, I try and understand the factors that drive…

On successful investing: “Many elements have to fall into place, but 4 things are critical. There has to be an attractive, addressable opportunity; a sustainable competitive advantage; scalability & operating leverage; and the management should be of high quality & integrity.”

On respecting markets: “The first important lesson that we must learn to be successful in markets is that markets are supreme. Markets are ruthless and very intelligent. A market participant should always respect markets as being the ultimate arbitrators and deciders.”

On contrarianism and conviction: “Superior investment returns are not gained without pain, time, introspection and doubt. … The best decisions in trading and investment are essentially very lonely decisions.”

On patience: “I’ve had my fair share of doubts, and have made some mistakes, but you have to believe in yourself, whatever you do. Many a time, it takes time for markets to realize value. But, my experience in markets have taught me that ultimately markets do what is right.”

Rakesh Jhunjhunwala was a legendary investor unknown by most Nicknamed “The Big Bull” in his home country India, Rakesh delivered net returns of 62% CAGR over 37 years, a track record unrivaled by even Jim Simons Lessons from his 2006 article “Trading is Against Human Nature”:

On successful trading: “Good trading requires three qualities: 1) broad idea of direction 2) knowing what and how much to risk 3) knowing when and how to take a loss”

@InvestSpecial @justavalueguy Through continued research my conviction on Duratec has grown stronger. You can find my latest thoughts here:

My latest update on Duratec $DUR, as also published in Sohra Peak's latest partnership letter, includes a breakdown of Duratec's top competitive advantage and can be found here:

@GavinSBaker 100+ pages

Thank you @BobbyKKraft and @AndrewRangeley for featuring me at this year's @PlanetMicroCap Showcase in Las Vegas

Sohra Peak's Q1 2023 partnership letter is now available to Accredited Investors here:

@alluvialcapital @nopain_n0gain86 Robotti Securities @BobRobotti can help trade in these exchanges

Micro-Caps

Small-Caps

Any small cap managers or investors in the bay area who would be awesome to link up with? Visiting SF on Jun 14 and 15

Both major stock market indices are priced at ~7x P/E

A tale of two Central Bank policies Brazil (L) and Poland (R)