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Friday 12 August 2016

VP Chintan Baithak, Goa 2016

The VP Chintan Baithak at Goa 2016 was one more fantastic event. Building up on last year, we took up a few independent themes for each day. First day was more devoted to introductions of the new invitees and look back at the basics - inculcating VP process. Day 2 was spent on discussing top picks from all participants and discussion on the self-reinforcing business model. Day 3 was spent on business models, risks and corporate governance. Day 4 was a curtailed session but one in which we looked at trends in industry for the future. Interspersed during each day were comments and discussions from the two guest participants - Prof Bakshi and Vinay Parikh.

A few things that were discussed:
  • Always ask yourself how does the company make money. Avoid companies that are not win-win for all stakeholders
  • Look for companies which have a long term track record of prudent capital allocation
  • You can average up in companies that have "fundamental momentum"
  • Try to learn about similar business from other industries
  • It is important to focus on reading - read annual reports when they are available, books, magazines, journals, industry reports at other times.
  • Spend some time to read something not directly related to investments everyday to broaded your horizon and increase your ability to connect various dots
I thoroughly enjoyed the 4 days mainly because it was about the topic I am most passionate about and in the company of friends. I was amazed by the zeal of Prof Bakshi and Vinay Parikh. They spent the entire day with us right from 9am to 1:30-2:00am!!!

Thanks to all the participants who made this one more memorable experience.

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