2. Type 2 – Learnt from historical experiences around M&A: Firms like Asian Paints and Dr. Lal Pathlabs are open to doing acquisitions to grow their product portfolio or geographical presence, respectively. However, the promoter and management teams of these firms have demonstrated significant caution and restraint in considering such opportunities in the past. They have executed bolt-on acquisitions that do not risk a large part of the firm’s capital employed and have been cautious in deploying incremental capital into these acquired businesses. One exception though is a firm like Pidilite, which has had three distinct phases of large-sized M&A transactions in its history (as summarized below). The firm has acknowledged its mistakes, and implemented course-correction subsequently, which gives us conviction on capital allocation discipline likely to be pursued in the future. … [Read more...] about Saurabh Mukherjea’s investment mantra to navigate through a crisis: Part-2
Which vanguard index fund to invest in
The scheme will mimic the Nifty Alpha Low Volatility 30 index. This benchmark has 30 stocks picked from the Nifty 100 and Nifty Midcap 50 indices using two parameters – alpha and low volatility with equal weight. Stocks with high Jensen’s Alpha (returns over what markets/indices deliver) are selected. The Nifty150 TRI is the benchmark for determining excess returns. Stocks with low standard deviation (measure of volatility) are selected using a rule-driven process. Exposure to individual stocks is capped at 5 per cent. The index is rebalanced twice a year. Stock inclusions and exclusions to the index are rule-based. … [Read more...] about ICICI Pru Alpha Low Vol 30 ETF NFO: Should you invest?
Soon after protests erupted in May following the killing of George Floyd, Reynolds was forced to grapple with his own complicated personal history. His and Lively’s 2012 wedding took place at Boone Hall, a former plantation in South Carolina. Press coverage at the time focused mostly on the glamour of the event, though some pointed exceptions noted the callousness of holding a celebration in a place where slaves had suffered and died. It wasn’t until 2018 that the story caught on in a significant way, when a tweet Reynolds posted in praise of Black Panther (the first superhero blockbuster featuring a largely African American cast) sparked a viral response accusing him of hypocrisy. The actor is still clearly pained by the hurt the wedding caused, as well as by his own lack of judgment. “It’s something we’ll always be deeply and unreservedly sorry for,” he says. “It’s impossible to reconcile. What we saw at the time was a wedding venue on … [Read more...] about Ryan Reynolds on ‘Deadpool,’ diversity, and the secrets of successful marketing