A Tribute To Masters

My sincere acknowledgement to the following investment legends whose writings have decided & shaped my career. I take liberty to borrow their thoughts, so that their knowledge and wisdom may benefit a lot more people.


 Benjamin Grahm
 Warren Buffett
 Peter Lynch
 Philip Fischer
Let me start with a joke, which shows the importance of having the correct knowledge. Once - in late P.M. Indira Gandhi’s time- Mr. Zail Singh & Mr. Buta Singh were to go to America. So Mrs. I.G. decided to give them a crash course in English. After a few days , she decided to conduct a surprise test interview to check their progress. First she called in Mr. Buta Singh & asked him, what word is formed using the alphabet given below?
M
Mr. Buta Singh gave the correct answer. When he came out, Mr. Zail Singh eagerly asked him what he had been asked, as we all do when we appear for an interview. Next was called in Mr. Zail Singh.
Mrs. I.G. ,being the shrewd lady that she was, asked what word is formed using the alphabet given below?
W

Mr. Zail Singh Had been partying a lot and neglecting his studies –like most of us in India do, when we are to travel abroad. He scratched his head. Thought a lot. And at a loss for an answer, he replied, ‘lakde to buta di Ma hai, per a puthi kyo piyi hai? ( looks like Buta’s mother but why is she lying upside down).

MULTI BAGGERS
Using the principles of value investing, some of the multi baggers in my portfolio have been (year of purchase 2000-2003) ( This term Multi Bagger will be elaborated later) :

Company Purchase Mkt. price as 52 week high
Name Price on 31.12.07 (Rs.) (Rs.)

Hindustan Zinc Rs 15 75 1200
Gail Rs 60 430 650
ONGC Rs 330 1800 2600
Kochi Refnry Rs 35 310 450
GE Shipping Rs 50 320 560

Later we will discuss how to identify such multi baggers.