The Ten Commandments of Investment Management

Distinguished Speaker Series
Applied Fundamental Analysis & Worldly Value investing
Professor Arvind Navaratnam

(00:00:00) - Introduction

(00:02:13) - Thou shall not skim off the top

(00:04:11) - Thou shall not have an investing team

(00:05:20) - Thou shall accept that thou shall be wrong at least 1/3 of the time

(00:07:06) - Thou shall look for hidden P/E of 1 stocks

(00:13:13) - Thou shall never use Excel

(00:21:21) - Thou shall always hope a rope to climb out of the deepest well

(00:27:43) - Thou shall be singularly focused like Arjuna

(00:31:32) - Thou shall never short

(00:32:50) - Thou shall not be leveraged. Neither a lender nor a borrower be

(00:36:28) - Thou shall be shameless cloner

(00:37:12) - Where to look for investment ideas

(00:40:51) - Temperament during financial crises

(00:43:53) - Always have a rope on hand

(00:49:07) - Investment in Google

(00:52:12) - Judging Management Teams & Satyam Scam

(00:55:28) - Sergio Marchionne

(01:00:36) - Currency risk in international markets

(01:07:52) - Investing in Distressed companies

(01:09:33) - Competitive Moats that turn out to be an illusion

(01:16:02) - Kelly formula

(01:17:17) - Circle of Competence

(01:19:30) - Shameless Cloning

(01:20:04) - Zero Fee Structure

(01:24:03) - Investing in Protected Moats

(01:26:41) - When to sell an investment

(01:30:39) - Personal trails that contribute to a manager’s success