“No man ever steps in the same river twice, for it’s not the same river and he’s not the same man.”- Heraclitus Wishing you and your family a happy new year! :) This is our first ever annual letter (hopefully the first of many). I will be listing out some of my key learning’s from the journey in the last 5 years of investing and the last 15 months of starting SOIC. When I look back at it, I am immensely grateful to you and proud of the team of what we are building. I often wondered why no one was covering businesses bottoms up in the Indian markets. Many talk about Warren Buffett or Charlie Munger, but very few practice what they’ve actually done. That is to sit on their ass and read one business after the other. There is this story about Charlie Munger of how he read The Barron’s for 50 years in a row and he found one idea through which he made $80 million and in turn which he gave it to Li Lu who turned it into more than $500 million. I am not saying that you have to wait for that long, the key takeaway at least for me is to inculcate the habit of reading at least 1 business a day. All gyaan in the world about behavioural finance is good, but it won’t help you much in your journey if you do not inculcate this habit in your routine.
Excellent read
Loved it, thank you man. Looking forward to more of these.
Just One Emoji to Describe- 💎
Proud and priviliged to be a soic tribe member
Love your fundamentals...thanks for sharing.
Great content. :-)