www.mfp.co.in
The Infant Learner
Some stuff I read this week:
A. This week’s Special:-
Intelligent Fanatic : Ajay Piramal
Ajay Piramal, chairman of the well-diversified, $3.2 billion Piramal Group, has been navigating the world of big business for over three decades now and, despite the length of his journey, he has managed to avoid any serious misstep. Reason: Even while taking decisions relating to investments, he has kept the values and the approach of trusteeship at the core—be it in financial services and health care under the holding and flagship company Piramal Enterprises Ltd (PEL), real estate development through Piramal Realty or philanthropic activity through the Piramal Foundation.
Staying real is a learning Ajay Piramal has drawn from the Bhagavad Gita: “In the concept of trusteeship, you don’t look at your own benefit,” he says. “You have to look at the benefit of all shareholders. We are known as a value-based company. This will last… reputation is bigger than size.”
From 02-01-1996 to 05-01-2017 his company has compounded the money for his shareholders at 28.91% compared to Nifty which compounded only at 11%. The difference between compounding money at 11% a year and at 28.91% a year becomes truly staggering over time. While Rs 1000 became Rs 9,189 with Mr. Nifty , they became Rs 2,08,428( including dividends) with Mr. Piramal instead.
To read more about him & Piramal Enterprises kindly follow below links :
Link 1 : About Ajay Piramal ( FP )
Link 2 : Piramal Enterprises ( JW )
Link 3 : Reflections On Piramal Enterprises ( JW )
Link 4 : Eye on the prize: Ajay Piramal strikes it big with contrarian calls ( FB )
B. Entrepreneurial Diary
( “Business means solution of a particular problem and Creating value for customer as well as value for company ” – Paramjeet Redu )
Meet The 2017 Class Of 30 Under 30 ( FS )
Trait require to achieve life long success ( IN )
13 Things You Should Give Up If You Want To Be Successful ( ME )
Radical Candor — The Surprising Secret to Being a Good Boss ( FR )
After Building a Media Empire, What’s Next? Lifting One Million From Poverty ( NY )
C. Other Stories
Quitting something you love ( SO )
The Power of Brutal Honesty ( CB )
Looking for Easy Games ( CS )
How to ask good questions ( JV )
Stock Analysis : Kiri Industries ( AI )
Looking For The Next Amazon ( II )
When do you average down? ( BC )
10 Qualities of Great Investors ( SN )
Mental Model: Two Systems of Thinking ( TW )
The Two Types of Knowledge in the World ( CS )
Risk Management : Art of Living another day ( SI )
Philip Fisher Explains His Growth Philosophy ( NI )
For Investors, Emotional Intelligence Is as Important as IQ ( MU )
To Be a Great Investor, Worry More About Being Wrong Than Right ( JW )
Charlie Munger on the Paradox in Hold vs. Buy Decisions in Long Term Investing( FP )
“I read everything: annual reports, 10k’s, 10q’s, biographies, histories, five newspapers a day. On airplanes, I read the instructions on the backs of seats. Reading is key. Reading has made me rich over time” – Warren Buffett
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you” – Charlie Munger
You have to apply yourself each day to becoming a little better. By applying yourself to the task of becoming a little better each and every day over a period of time, you will become a lot better”- Carol Dweck