Portfolio Disclosure January 2018

Portfolio Disclosure as on Jan 11, 2018

Pls see below my portfolio (limited to those stocks which constitute at least 1.5% of the portfolio):

Ticker % of Portfolio %Gain
OBEROIRLTY 9.90 132.74
BAJAJFINSV 4.03 764.79
BALKRISIND 3.60 728.33
IDFCBANK 3.50 38.26
IDFC 3.28 -14.19
HINDPETRO 3.06 295.64
ECLERX 2.87 98.13
NESCO 2.84 114.28
DCMSHRIRAM 2.84 339.78
PIIND 2.78 138.99
SPARC 2.14 246.60
INDHOTEL 2.13 82.36
MCDOWELL-N 2.09 41.59
RELIANCE 2.01 124.17
IBULHSGFIN 1.92 196.66
OCCL 1.91 1117.00
BAJAJELEC 1.89 145.80
CANFINHOME 1.81 1100.05
SHILPAMED 1.79 526.03
KRBL 1.78 1200.07
NMDC 1.75 19.26
BHARATFORG 1.74 313.36
MUNJALSHOW 1.72 85.35
AKZOINDIA 1.69 64.44
CUMMINSIND 1.69 127.08
TATAINVEST 1.67 71.89
LT 1.65 75.55
IRB 1.63 86.47
HMVL 1.57 29.40

As before, for Canfin Homes, KRBL, Shilpa and Bajaj Finserv, the % gain is after including profits on sales carried out.

The only sales since the last portfolio disclosure have been in EClerx. This has primarily to do with the rise in the price due to Buyback announcement. I fully intend to purchase back the stock once the buyback record date is over.

There has been a sharp rise in the price of Oberoi Realty, IDFC Bank and IDFC. This accounts for the relative percentage increase. Similarly, there has been muted performance in Balkrishna Tyres. All of these are long term stocks, so the relative performance is not, per se, especially interesting.

Trading Performance December 2017

Trading Performance December 2017

My trading performance since August 2017 has been nothing short of disastrous. While I am still ahead for the year, at this point, had the same capital been invested in stocks, I might well be ahead. However, that is in the nature of the trading game. Most of the time, the returns are below the peak returns, and in addition, there are often sharp drawdowns in this business. This is where mindset, stoicism and capital come into play. I like to think that I have these in abundance. Then it is only a game of waiting. Markets will give you a sharp break on either side, which will develop into a nice trend to capture profits. It just requires the patience to hold on, till the ride comes along. But I can see why many people don’t succeed here.

Here is a table of the returns:

Trading Returns
Table of portfolio returns and trading performance for December 2017

Investment Performance December 2017

December 2017 was a great month for markets, especially in the small and midcap segment. The portfolio as a whole continues with its underperformance of the small and midcap space, and its outperformance of the large cap space. Financials did not have a great time in December, and given the high weight of financials in the portfolio, some level of underperformance was to be expected.

The SBI Small and Midcap Fund has a complete blowout. Even the Centrum PMS had a blowout month, with the result that its performance almost caught up with my portfolio returns.

Here is a graphical representation of the monthly returns:

Portfolio Returns
Graphical Representation of the portfolio returns in December 2017, relative to different benchmarks

Following is the same thing in the form of a table:

Trading Returns
Table of portfolio returns and trading performance for December 2017