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The story goes as follows, a billionaire business man says to a young strategist, I will pay you a million dollars if you have something to say that is worth listening. To which the young man says sure, “Go back home, make a list of 10 things and do the first”.

According to the legend, the young man got a million dollar cheque posted by mail in two weeks.

It certainly helps clear clutter and gives perspective in an otherwise life of competing priorities. Make a list of things you want and go for the first! that too without paying a million dollars 🙂

Written by amitdipsite

February 23, 2017 at 2:09 am

Posted in Uncategorized

Who is the doer

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Below are from the writings of Yogananda, emphasis mine:

Humility is the fertile valley of consciousness where the rain of God’s wisdom falls. As on a mountain peak no rain can gather, so also on a high peak of egotism no waters of knowledge can remain. The egotist refuses to investigate truth and shuts the door of receptivity through which knowledge enters. The humble person, by contrast, is always ready to learn and drinks in knowledge from everyone and everything.

The egotistical person manages to be satisfied with small accomplishments by making them look big to himself. Imagining that he is doing great things, he spends much of his time telling others how great he is, but he does not progress. It is the consciousness of his own inferiority which makes a man hide behind a display of pride.

The person who is absorbed in doing great things, and never speaks of it, is truly humble. It is the divine law that he who pretends to be greater than he is will surely be found out and criticized in the mirror of public opinion, while he who is humble and hides his greatness will be admired.

See God as the Doer

Humility comes from seeing God, not yourself, as the Doer. When you see Him acting through you, how can you be proud of anything you do? I could sit here all day singing my own praises; it would mean nothing to me. I would know that I was giving praises only to God. Humility lies in the heart; it is not a “put-up” job. You must feel that everything you do is accomplished by Him alone, through you. Pride is the death of wisdom.

Blessed are those who are meek and humble in spirit, for humility and meekness create in them a bottomless receptacle of receptivity to Truth. A stone-hard, proud individual rolls down the hill of ignorance and gathers no moss of wisdom, while the humble souls in the valley of eager mental readiness gather the waters of wisdom coming from all human and divine sources.

Science cannot really invent anything. Nor can artists really create anything. Your thoughts are not your own. They come from a universal source: all thoughts are universally not individually rooted. All that man can do is rearrange what is already there. The arts and sciences, like man himself, are not important in the great scheme of things except as they help to unfold the divine plan for the universe. The wise never boast of their own qualities or their own accomplishments, but view them all as belonging to a universal reality. Humility before God is the beginning of true wisdom and understanding. Always, in all things, behold God as the Doer.

Humility is not servility

Some people may consider a downward gaze proper in the presence of the Divine, and anything else a presumption. In fact, however, a downward gaze while praying and meditating takes the mind downward, not upward to God. Downwardness suggests a feeling of unworthiness, when in fact God invites the soul to soar. Stooping suggests a servile attitude also.

Attitudes of unworthiness and servility are negative. They are not at all the same thing as humility. Humility, indeed, begins with self-forgetfulness. True humility uplifts the energy; it doesn’t abase it. Any posture that obstructs that upward flow hinders the development of all ennobling attitudes, including humility

God never speaks of Himself

How did God manifest this universe? Out of Himself. How did God manifest you and me? Out of Himself: He became everything. He did not make things the way you or I might make a table, because He had nothing to make anything out of — only His consciousness existed. You are not your body or personality. You are that Infinite One who is acting through a particular body. He does everything through you.

God is the greatest. There can be no one greater than God. As great as He is, God never speaks of Himself and is ever hidden. God has every power conceivable yet He silently goes about regulating His vast family of the cosmos without any show of His power and excellence, and without seeking any recognition from anyone.

Anyone who knows God is silent and humble like Him. The true devotee is one who, like God, lovingly serves all in utter forgetfulness of self.

God tries to influence his error-stricken children through the humble, all-forgiving personalities of his true saints and devotees. Study their lives. Reach out to them mentally and learn to commune with them. The path they traveled is the path to God. Their lives provide you with a yardstick for your own development. Seek in them the inspiration to strive more earnestly to improve yourself, that you may accomplish worthwhile things in your own life.

The greatest miracle of all

Jesus, knowing God’s will, refused to offer spectacular signs and miracles to prove God’s existence, or his own divinity. Jesus performed miracles of healing, raising the dead, and walking on the sea strictly under divine guidance and permission. He always emphasized that he was strictly doing the will of God who sent him, and said that his disciples were very fortunate to be able to witness such a manifestation of divine powers.

Many great saints (not all, by any means) have performed miracles — including, for their close disciples, the resurrection of their bodies after death. Even so, we must remember that their greatest miracle is not one they performed outwardly: it is the extraordinary example of their lives, lived so beautifully for God, and in Him.

Most saints leave this world in a simple, unpretentious manner like everyone else. They deserve our love and emulation above all for the example they set of humility, of calm acceptance, and of universal love and compassion.

Humility is born of wisdom

Though God is the sole Owner of the cosmos, silently showering us with gifts from life to life, one thing yet remains which He does not own, and which each human heart is empowered to withhold or bestow: our love. The Creator, in taking infinite pains to shroud with mystery His presence in every atom of creation, could have had but one motive: the desire that we seek Him only through free will. With what humility has He concealed the iron hand of omnipotence!

Every quality, mental or spiritual, that can bloom in the garden of the human mind has flowered many times before. No matter whether you are a successful business man, or a powerful politician, or a dictator, or a great reformer, your power is nothing but the reflected power of God.

Let us learn from the fate of others. The only worthwhile accomplishments are not those we achieve outwardly, but the victories we win over ourselves. Let us create inner dwellings of beautiful qualities, erecting them in valleys of humility where gather the rains of God’s mercy and other people’s good wishes for us. Humility is the open gate through which the divine flood of mercy and power flows into receptive souls.

Let your thoughts be inspired not by ego, but by God. Let your thoughts be fragrant and beautiful, not rank and ugly, that the memory you leave behind be felt as a blessing on the earth.

I was listening recently to this podcast in which Howard Marks, a billionaire said “nobody is getting out alive”

Sad state of affairs, while we all will continue to live, but having doubts, disbelief, fear and anxiety about it is as bad as it gets.

Constant remembrance of this fact that we are transient whirlpools of sentient energy like waves, manifested for a period of time, is good but not much helpful if one does not further probe beneath the surface and makes a concentrated and determined effort to find out whether one really survives physical disintegration of the body, thereby only swallowing others theories that offer little value and no peace, a field in which only personal experience can suffice. Can reading a million words on the taste of orange compare to tasting an orange? Yogananda or that could also apply to any other great master said, “If you only practice 1% of what I have taught, you will find God”. Hindu bible, The Bhagwat Gita adds, “Only a little progress on this path saves one from greatest fear”.


Written by amitdipsite

February 21, 2017 at 9:58 am

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A very interesting 5 Billion USD Market Cap company REC Ltd. is available at 4 PE multiple.

Market believes that the debt it give to DISCOS will not be good, i.e. defaulted.

It has become a nodal agency for Govt. of India.

Debt may not go bad, more than 50% chance in my opinion.

Then, next worry was 65% of electricity output in India will be sufficient to meet 100% of India’s energy requirement by 2019. Also Modi has done good work in distribution of electricity to villages, 100% coverage expected by 2019. Also electricity generators can tune existing power stations to meet demand rather an install fresh capacity, since in 2019 65% of total capacity would be sufficient to meet demand.

But it will not be able to meet Peak demand!

Therefore the loan book (without default) may grow another 5-7 years with higher NIM than home loan companies like PNB Housing. Therefore a higher probability of re-rating. That’s all you ask for in a stock market, more than 50% probability of being right in a fair toss of coin (4 PE, 6% dividend yield).

Disclosure: Invested in REC LTD. Views are personal notions and do not represent any organisation or company. Investment in stock market can (and many a times do) result in loss of principal capital.

Written by amitdipsite

February 21, 2017 at 5:02 am

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Raining multibaggers

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In the previous post I mentioned that Muthoot (biggest gold loan company in India) 1.5 Billion USD market cap can generate multifold returns starting 2017.

This BSE announcement by DHFL means it can now grow faster without diluting equity.


Written by amitdipsite

February 20, 2017 at 4:57 am

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Smallcap saga

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There is always a bull market in some commodity, company or country.

Some of the Australian small caps performed well in 2016, they have come off this year due to asset reallocation mandate to fund managers.

UK small caps have performed quite well until now.

India small caps are lower in quality and entry barriers but have performed reasonably well in the previous two-three years, to the extent that now they are more valued than large caps.

If a family earns 60K USD per annum, it might spend 5K on entertainment, but it earns 150K USD p.a., it may spend 30K on entertainment, the salary difference is 2.5 fold but spend is up 6 times. Just a ballpark, can be 3 times for some and 10 times for others. That does not apply to food, electricity, paint, clothes, cookies, fmcg products like biscuits, fruit juices.

So, travel and tourism is the biggest industry in the world, not without a reason, even bigger than auto. There is almost no upper limit on how much people will spend for:

a) Saving their life (medicine/hospital)

b) Entertainment (House, travel, adventure, experience etc)

If we were space faring civilisation, many people would happily pay 200,000 USD for a flight to other stars. A family of four visiting Disneyland for one week spends between 10-15,000 USD including hotel stay. If you are going from overseas, include airfares. For that reason tourism is good business. I am invested in one such business in Australia.

Came across another micro cap in the UK on which I have not pulled the trigger because of absence of repeat business. A portfolio of small, illiquid and handpicked companies are almost certain to perform better in the medium 3-5 year period than average index.

The company is Paragon Entertainment, quadrupled from 1.5 cents to 6 cents in the recent 12 months, management is adding stake. The company creates fit outs and builds world class attractions such as heritage centres, zoos and aquariums, theme parks and visitor attractions, science centres and brand centers. Some of the past work includes Land of the Lions at London Zoo, The Rolling Stones Exhibitionism at the Saatchi Gallery, Motiongate theme park in Dubai, Kidzania in London, The Olympic Museum in Lausanne, the Titanic in Belfast, and Wallace and Gromit Thrillomatic at Blackpool Pleasure Beach, Galleries at The National Museum of Kazakhstan etc.

20 PE, 11 Million GBP Market cap. Not certain about long term prospects though management seems quite bullish. David, an non-exec director has joined the company who was involved during 1 billion GBP deal of sale of Tassauds.















Indian small cap

For a Nike there is Spenta International (makes stocks for Nike, Adidas etc) 10 bagger in 3-4 years. For Page Industries there is  Premco, 20 bagger in recent 3-4 years. And for NESCO there is ELNET TECHNOLOGIES. 44 Crore market cap, 24 crores cash in hand, REIT Asset play, cash accumulation of 5-6 crores per annum, though scant details in annual report.

Disclosure: Invested in ELNET TECHNOLOGIES. Views are personal notions and do not represent any organisation or company. Investment in stock market can (and many a times do) result in loss of principal capital.


Written by amitdipsite

February 18, 2017 at 12:13 am

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Written by amitdipsite

February 14, 2017 at 2:54 am

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Muthoot Finance

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25% Capital Adequacy Ratio

15% ROE, can go to 20% by improving above ratio

Non Gold businesses to grow rapidly on its existing branch network, including MFI (Belstar) and Home Loan

With Toll bridge you want to lay the dollars in past to collect the toll in future inflation adjusted dollars, but with MFI you want the business to Ramp up after 2017 ( i.e. post demonetisation)

Gold as collateral – No NPA

Stolen gold from branches – Insured

2% dividend yield

Slide 20 says

“Generally NPA will not result into bad debts as collateral can be auctioned”

9% Interest Spread

2.5% NPA (Not quite)

Best in class with mobile apps and online presence in gold loan business.

Good liability mix.

Sentimental value to gold jewelry and short loan cycles to not mar high NPA, has survived previous gold cycles, now time to create multibagger returns.

Golden rule: He who has gold writes the rules.

Disclosure: Invested in all companies discussed. Views are personal notions and do not represent any organisation or company. Investment in stock market can (and many a times do) result in loss of principal capital.

Written by amitdipsite

February 13, 2017 at 11:08 pm

Posted in Uncategorized