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Amusing quotes

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A study of investment managers usually reveals that the best time to buy anything was last year.

Take my investment advice — I’m not using it.

If I had a dollar for every girl that found me unattractive, they would eventually find me attractive.

Life is all about perspective. The sinking of the Titanic was a miracle to the lobsters in the ship’s kitchen.

A recent study has found that women who carry a little extra weight live longer than the men who mention it.

I gave donation of a glass of water to the man who asked for donation towards the swimming pool.

When my boss asked me who is the stupid one, me or him? I told him everyone knows he doesn’t hire stupid people.

Before I criticize a man, I like to walk a mile in his shoes. That way, when I do criticize him, I’m a mile away and I have his shoes.

You know that tingly little feeling you get when you like someone? That’s your common sense leaving your body.

Just read that 8,972,015 people got married last year, not to cause any trouble but shouldn’t that be an even number?

You’re not fat, you’re just… easier to see.

I want to die peacefully in my sleep, like my grandfather.. Not screaming and yelling like the passengers in his car.

I’m great at multitasking. I can waste time, be unproductive, and procrastinate all at once.

That awkward moment when you leave a store without buying anything and all you can think is “act natural, you’re innocent”.

I can totally keep secrets. It’s the people I tell them to that can’t.

I think my neighbor is stalking me as she’s been googling my name on her computer. I saw it through my telescope last night.

I’m not saying I hate you, but I would unplug your life support to charge my phone.

The man who discovered copper died penniless.

Living on earth may be expensive, but it includes an annual free trip around the sun.


Written by amitdipsite

March 17, 2017 at 4:23 am

Posted in Uncategorized

Buyback blithe

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45 days back I wrote that IT sector in India looks attractive as its contrarian bet because of  Trump’s vivid chest thumping neanderthal antics.

Meanwhile within this span of time large companies like TCS, Infosys, Mphasis and HCL (potentially more) have announced buyback.

That is one of the best moves a company can make in the absence of growth, from the minority investors point of view, better than dividends as its not taxed.

1980 WB Letter

We can’t resist pausing here for a short commercial. One usage of retained earnings we often greet with special enthusiasm when practiced by companies in which we have an investment interest is repurchase of their own shares. The reasoning is simple: if a fine business is selling in the market place for far less than intrinsic value, what more certain or more profitable utilization of capital can there be than significant enlargement of the interests of all owners at that bargain price? The competitive nature of corporate acquisition activity almost guarantees the payment of a full—frequently more than full price when a company buys the entire ownership of another enterprise. But the auction nature of security markets often allows finely-run companies the opportunity to purchase portions of their own businesses at a price under 50% of that needed to acquire the same earning power through the negotiated acquisition of another enterprise.

1984 WB Letter

When companies with outstanding businesses and comfortable financial positions find their shares selling far below intrinsic value in the marketplace, no alternative action can benefit shareholders as surely as repurchases.

Our endorsement of repurchases is limited to those dictated by price/value relationships and does not extend to the “greenmail” repurchase—a practice we find odious and repugnant. In these transactions, two parties achieve their personal ends by exploitation of an innocent and unconsulted third party. The players are: (1) the “shareholder” extortionist who, even before the ink on his stock certificate dries, delivers his “your-money-or-your-life” message to managers; (2) the corporate insiders who quickly seek peace at any price—as long as the price is paid by someone else; and (3) the shareholders whose money is used by (2) to make (1) go away. As the dust settles, the mugging, transient shareholder gives his speech on “free enterprise”, the muggee management gives its speech on “the best interests of the company”, and the innocent shareholder standing by mutely funds the payoff.

The Subtle reason

The companies in which we have our largest investments have all engaged in significant stock repurchases at times when wide discrepancies existed between price and value. As shareholders, we find this encouraging and rewarding for two important reasons—one that is obvious, and one that is subtle and not always understood. The obvious point involves basic arithmetic: major repurchases at prices well below per-share intrinsic business value immediately increase, in a highly significant way, that value. When companies purchase their own stock, they often find it easy to get $2 of present value for $1. Corporate acquisition programs almost never do as well and, in a discouragingly large number of cases, fail to get anything close to $1 of value for each $1 expended.

The other benefit of repurchases is less subject to precise measurement but can be fully as important over time. By making repurchases when a company’s market value is well below its business value, management clearly demonstrates that it is given to actions that enhance the wealth of shareholders, rather than to actions that expand management’s domain but that do nothing for (or even harm) shareholders. Seeing this, shareholders and potential shareholders increase their estimates of future returns from the business. This upward revision, in turn, produces market prices more in line with intrinsic business value. These prices are entirely rational. Investors should pay more for a business that is lodged in the hands of a manager with demonstrated pro-shareholder leanings than for one in the hands of a self-interested manager marching to a different drummer.

Country specific subtlety

I see the Bonus shares in the same spirit. The company that issues Bonus shares (not a Bangladesh based company where share distributions are made by run of the mill loser companies, instead of cash, in that country I prefer a company that has never made bonus share distribution), does so with the intention of keeping up with the dividend payments on enlarged capital base, then its not a mere accounting entry, that is the difference, rather its a signal to the market, that we have bright sunny days ahead.

When bad?

Buyback could be bad if CEO believes that his company is always worth more than it actually is in an unbiased view or buys above the intrinsic worth of the business to shore up / bid up the price for ulterior reasons than the shares being actually cheap or even more cheaper ideas can increase earnings for the companies (buy own shares at 20 times earnings not as good as spotting shares at 5 times earnings).

I am invested in small / mid cap companies in the IT sector in India, Australia and the UK.

Disclosure: Not invested in companies mentioned. 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

March 17, 2017 at 1:22 am

Posted in Uncategorized

Matrices hypothesis

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Just had an epiphany few weeks back on one of the potential models of the structure of the universe. I basically connected the dots from Upanishads and few quotes that someone said that “thoughts are not individually rooted but universally rooted”.

To get a little context, read this

You know that string theory supports multiple dimensions, but those dimensions are fully linked. There is also as per Vedas consciousness that is all pervading. For those that have pierced the veil of nature, nothing in the nature remains attractive (yet they do not know all the mysteries of nature, though they can control nature).

So, coming back to the epiphany, the automatic intelligence of ‘atoms’, is derived from a matrix of intelligence that has its own model and rules, which is apart from a matrix of intelligence/feeling/rules that is apart from the one that ‘cells’ tap into, which is still different from the one that ‘mind’ taps into. Matrices layered on top of each other, inter penetrated, similarly there is also an earth martix which is influenced by the thoughts of all inhabitants on the planet, a galactic matrix and so on. In fact likely subtler martix influence higher order martix. That is just my theory.

Despite the subtler bodies of man enunciated in great detail in the Upanishads and experienced by many many practitioners in every day and age, the rest of the details are for the most part unmapped and unknown. Perhaps they are not important either, but I suffer from intellectual disease and can’t help imagining. Just keep that holy curiosity burning.



Written by amitdipsite

March 16, 2017 at 8:33 am

Posted in Uncategorized

Juicing the brain

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Humans are suckers for stories, this company says “Those who tell best stories rule the world”.

Brainjuicer listed on London Stock Exchange (BJU)

While the world read books, few quoted behavioral finance/economic quotations, hundred liked, thousands re-tweeted, even more blogged, we had to introduce complexity to justify a growing income 🙂 , so we had to move away from MOAT, MoS to new ideas that can capture imagination, System 1 and System 2. Its quite good, it works. Some companies in their fanatic zeal created ad agencies around this human suckerhood. The results have so far been excellent for this UK Company that founded System 1 Agency based on the work of Daniel Kahneman, thinking fast and slow. The revenues have grown above 25% and the stock has nearly tripled in the previous 12 months.



Disclosure: No position as of today. This post is a personal opinion. Please consult your Investment Advisor.


Written by amitdipsite

March 14, 2017 at 1:44 am

Posted in Uncategorized

Quotes on Self

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That which makes you think that you are a human is not human.
Remove your head outside and then speak. Your heart will speak. You will speak the language of love. Allow your heart to speak.
Go so deep within yourself, so deep that your outer self disappears..
You are to lose your self in order to find Him, which means to find your Self.
Anandamayi Ma
Love, because when you Love you are using the greatest power in the Universe.
Rhonda Byrne
Awareness alone will overcome illusion.
One of God’s Name is Love. He Himself resides within all, at every moment, everywhere.
Anandamayi Ma
Trust the wait. Embrace the uncertainty.

Enjoy the beauty of becoming. When nothing is certain, anything is possible.

Be mindful of your self-talk. It is a conversation with the universe.
David James Lees
Hold on to the reins of Love and don’t be afraid.

Hold on to the real behind the false and don’t be afraid.

My Commentary:

Seems we are lost in a zillion dilemmas, complexities, mysteries, intellectual theories on the surface of nature and natural phenomena, but we don’t see the real except through tinted glasses of our conditioned brain, feeling these days has taken a back seat, rationality is the Prime Minister. Aim of life propounded by the majority is acquisition of toys and greenbacks primarily, and for others singularly.

Its better to be alone than to have the company of those who are satisfied with being outwardly rich and prosperous, and have no other goal. Unfortunately, most workplaces of today are the result of 200 year old industrial era. Can’t wait for enlightened organisations.
How hard is it to love? That is the only currency accepted to enter the Self. A beggar may find place and grace in His eyes.
Most of us are trying to please others but not Him, the giver of all gifts, life after life and the only friend between lives.
Ramakrishna said, “We cry for money, relationships etc. who is crying to meet God?”

Written by amitdipsite

March 11, 2017 at 10:08 pm

Posted in Uncategorized

Miscellaneous Macro

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OECD global growth forecast.

World Misery Index

Smartphone Ownership

Cost of Breakfast

China Imports

China saw a surprising spike in imports while exports were lower than expected. This resulted in a rare trade deficit for the country.

The recent jump in commodity prices helped push the import figures higher. But these figures could also be skewed by the Lunar New Year holidays.

Ref: Halifax

Written by amitdipsite

March 11, 2017 at 9:31 pm

Posted in Uncategorized

Indian Pharma exporting to the US to be hit

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Disclosure: No exposure except Caplin Point and Take Solutions. Please consult your Investment Advisor. This is not an investment advise but a personal opinion.

Written by amitdipsite

March 11, 2017 at 8:56 pm

Posted in Uncategorized