In the great stock market crash of , Basant lost all his wealth and was on the brink of insolvency. How he managed to claw back from that debacle is a fascinating story in itself which tells you that this is a man of grit and determination, with a never-say-die attitude. His strength of character is revealed by the fact that while most people would have crumpled to pieces after such a disastrous experience, Basant used the opportunity to identify his weaknesses and re-invented his stock picking approach. A slight tweak to his investment strategy meant that Basant had discovered the secret formula to finding multi-bagger stocks. A consistent track record of finding multi-bagger stocks like Page Industries, Hawkins Cookers, Titan Industries, Gruh Finance, HDFC Bank etc, etc tells you that this man knows what he is talking about and that you should pay attention to his words of wisdom. The other remarkable aspect is that while there are several other stock wizards who have discovered the secret formula to finding winning stocks, few would be prepared to share it with you.
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Jan 10, Atul rated it liked it read it at your own risk of coming out as confused investor with potential to loose all your money.
Aug 07, Amrutayan Pati rated it it was amazing An excellent read which gives you a first hand perspective of the Indian stock market - I think this is one of the few well written books on the Indian stock market. The author walks you through his investment hypothesis during the multiple cycles through examples and detailed analysis on rationale for entry and exit - must read!!
This particular title by Mr. Maheshwari stands out amongst the current Indian literature available on investing and is a definitive work that covers all aspects of equity investments in the Indian market. With a well-known track record of wildly successful investments and having been in the market since the early s, Mr Maheshwari starts with his introduction, how he got started with equity investments and briefly discusses investment philosophy.
The book has 41 chapters! Besides this, I found that maybe not intentionally the author does not discuss the downside risk for HFCs.
As many might know that the author has investments in a few of the HFCs which have done very well. They sort of appear in the book time and again. But somehow he forgets to mention that he entered them post when the cycle for cheap credit started and emerging economies have been flush with cheap money ever since. As now the cycle has started to reverse after a year gap and the raw material that aided this phenomenal growth is bound to become expensive and hence the downside risk.
The point is the author discusses at length about problems with a large number of sector and also his own short-sightedness and his bets that turned sour. Having said that, the author has tried his best to make the reader understand that the Indian market is unique. And there are rules that might work for a matured markets in EU and US but those same rule need be true for the Indian market. Maheshwari but then at the end of the day, what is important is to make money and he had achieved it in actually a well calculated and calibrated manner.
Sep 05, Duraimurugan rated it did not like it Worst book I have read recently. I think you could learn much more through moneycontrol. Filled with full of assumptions. Not even a single clear cut idea on how to pick a stock. No analysis on financial ratios. Ludicrously written.
In investing, the only source of capital protection is a growing dividend yield.
The Thoughtful Investor
Basant Maheswari's - The Thoughtful Investor
Why Basant Maheshwari’s Book “The Thoughtful Investor” Is A Must-Have For Your Library