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Interview with Amitabh Singhi, Managing Director at Surefin Investments

About the author:

Jacob Wolinsky
My investment ideas have been inspired by many of value investors including Benjamin Graham, Charles Royce, John Neff, Joel Greenblatt, Peter Lynch, Seth Klarman,Martin Whitman and Bruce Greenwald. .I live with my wife and daughter in Monsey, NY. I can be contacted jacobwolinsky(AT)gmail.com and my blog is www.valuewalk.com

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Rating: 3.3/5 (79 votes)

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Comments

yswolinsky
Yswolinsky - 3 years ago
Sorry the full interview did not post for some reason, here is the full thing.
jim brenock
Jim brenock - 3 years ago
Interview seems all sizzle and no steak. At least he picked up the check for lunch.

How concentrated is his portfolio? What percentage of his portfolio is represented by his top 10 best ideas?

Where is he finding value? Which sectors? Are there certain out of favor sectors where he currently sees value? Does he see value in small car, mid cap or large cap Indian companies? How liquid are the stocks in which he invests.

What is his methodology for evaluating companies? What is his value investment approach? Does he maintain a list of prospective buys?

Which companies has he purchased in the past? What was his methodology in this investment? Did the investment pan out? What did he learn from this investment? What are some examples of failed and successful investments.

Which companies is he currently invested in? Does he tend to invest in the same companies over time? How long is his holding period?

This interview is really rather worthless in terms of offering a value investment insight for India.

yswolinsky
Yswolinsky - 3 years ago
1. Some of the questions you asked were part of our conversation. Since Amitabh took them out of the transcript I assume he does not want to talk about specific holdings for example. I therefore cannot discuss them either.

2. These people do not have their entire day to give you, I only had a limited amount of time.
avishek
Avishek - 3 years ago
Thank you for posting...it would be interesting to know how he determines intrinsic value....Thanks again..great job

yswolinsky
Yswolinsky - 3 years ago
Thanks Avishek.

According to my friend from India. "recently Amitabh bought 3.5% stake in a company, Aro granites, trades at half times book, 4 times earnings , 2 times cash flow however the ROIC is quite low and also it has just recently turned cashflow positive."
supratik
Supratik - 3 years ago
I have known about his Aro Granites investment for a while. It did not fit into my circle of comfort but I wish him the best for it. I made about 80% profit of a tiles company in India between 08-early10 but I am not comfortable with the granites and tiles business in India any more.

I do think his recommendation of Balkrishna Tyres (BKT) at VIC was brilliant. I followed him into that company and while I am on thin profits currently, in a few years this company has tremendous potential. The only thing holding it back are the runaway rubber prices but its not a big issue if you have patience and understand the operational advantage that BKT has.

Amitabh's VIC presentation is quite good and in his discussion here he had alluded to some interesting processes that he follows. I might be suffering from confirmation bias of course.

It was nice of him to talk about Chandrakant Sampat, the 82 yr old value investor from India. Those interested might catch a glimpse of Mr. Sampat at the link below. He is notoriously reclusive and this is the first time he gave a television interview as far as I know.

http://www.youtube.com/watch?v=ILqbzzhUnJk&feature=relmfu

yswolinsky
Yswolinsky - 3 years ago
Great find, is there anyone who can translate this into English?
supratik
Supratik - 3 years ago
I could translate but I really don't have the time right now. The interviewer is asking in Hindi while Mr. Sampat answers in English so if you are patient it might work for you. He is fairly explanatory in his answers. The interviewer doesn't seem to have much clues about value investing, going by his questions.

At some point in this interview, Mr. Sampat makes a fantastic point (paraphrased here) - This planet and all that is in it has been bequeathed to us humans as an asset. Humans have printed money for raising liabilities against this asset. But there is that much you can do in terms of plundering this asset and printing money to raise liabilities.

I suppose you can call this comment as a type of 'enlightened capitalism' but then some people would call that phrase a contradiction. :)

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