Value Investing And Behavioral Finance: Insights Into Indian Stock Market Realities by Parag ParikhWhen others are greedy be fearful and when others are fearful be greedy - ill-timed bouts of greed and fear among investors make stock markets volatile. Rational and successful investing is all about restraining and channelizing these emotions and understanding behavioral finance, not market sentiments, crowd behavior or company performances. At a time when market upheavals are eroding investors confidence, dooming lifes earnings and corporate fortunes, and whipping up mass hysteria-Value Investing and Behavioral Finance comes as an antidote to investor anxiety and a guide to sane and safe investment decisions. Using investing trends in Indian capital markets over the last three decades, it shows how collective behavioral biases affect investment decisions, returns and market vagaries. As a corrective, it spells out long-term value and contrarian investing strategies based on the principles of behavioral finance. Further, it advises on how to spot investment opportunities and pitfalls in commodity stocks, growth stocks, PSUs, IPOs, sectors and index stocks. It also alerts the reader to a bubble or crisis situation, and ways to identify and insure against it.
Value Investing and Behavioral Finance - Dr. Daniel Crosby
RIP Parag Parikh – Value Investor, Fund Manager, Author & Guru
It depicts the journey of Poorna Malavath, a brave young girl who scaled Mount Everest. At 13 years and 11 months, she became the youngest girl to have reached summit of Everest. This is a true story about success against all odds. Her parents were agricultural laborers who struggled to make ends meet. They enrolled Poorna in a public social welfare school that provides meals along with education.
I bought this amazing book just before starting my practice — I still remember that I first read this book when I was on the way to Ajmer. We will do things which benefit the clients. Currently, we notice the mad fight for assets under management AUM by AMCs, because the profession has become a business. Our foremost goal of getting into asset management, is to make money for the retail investors. I am not concerned if the assets we manage are large or small. More than two decades ago, we started as a broker firm and gradually moved into the portfolio management services PMS. The mutual fund is a logical extension and transition for us.
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I have mentioned Superforecasting book above and its merit for this group. If some one really wants to benefit from the book then I suggest a mode of practice where you maintain an excel file where you note down your prediction, by when, probability attached then keep updating the probability as well as enter your reasons for the update in another column. I am doing that for stock market as well as non investment events. I felt this would be good tool to master the craft of forecasting, analysis and valuation. If investing is an art then it demands consistent practice. VP Guidelines include respect for Intellectual property. Yes VP is taking a principled stand here - of not allowing the VP Platform to be used for encouraging violation of intellectual property - whether directly, or indirectly is immaterial.