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Real Estate : Why US Homebuilders went Asset Light
Fund Manager Rukun Tarachandani explores how the business model of U.S. homebuilders has evolved, what drove their move towards an asset-light model, and how it compares to the approach of Indian real estate companies.
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Decoding Hotels Industry – The Asset Right Way
The hotel industry has long been known for its cyclical nature, but how are global hotel chains adapting to these cycles? And how is the Indian hotel industry evolving to follow suit? In this presentation, Ms Jinal Jain from the PPFAS Research Team explores the history of the Indian hotel industry and how it is…
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Car is the New Smartphone? – Lessons from Chinese Electric Vehicles
After a recent trip to China, Fund Manager – Raunak Onkar wonders whether the current wave of Electric Vehicles resembles the development of the Smartphone.
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Blitzscaling – The Softbank Protocol
Here, Rajeev Thakkar profiles Masayoshi Son, an entrepreneur who has experienced soaring highs and gut-wrenching lows over the past few decades. While apparently being a strong believer in the adage that… “In a battle between the crazy guy and the smart guy, the crazy guy always wins”, the episode seeks to discern the method behind…
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Understanding the Payments Ecosystem
In this video we explores India’s payments ecosystem, focusing on its growth, structure, key players, and future trends.
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Quick Commerce – Can it revolutionize the retail industry?
Retail Industry is an age old industry which might just be on the cusp of being revolutionized. This presentation aims to explore whether “Quick Commerce” as a format is desirable, both from a practical point of view as well as a financial point of view relative to the Kirana stores or the Supermarkets.
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Decoding the Flavors & Fragrances Industry
The global flavors and fragrances market size is estimated at USD 30.4 billion in 2023. The industry is driven by rising demand and preference for processed food, personal care & cosmetic products globally. Rising disposable income in emerging economies like India and China coupled with population growth, is expected to augment demand for personal care…
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Rise & Fall of Business Families
Are Business Families destined to fail across generations? It depends on who you ask. Raunak Onkar (Fund Manager & Research Head at PPFAS Mutual Fund) taps into the history of several business families in India & outside. He discusses the common themes for success & failure of business families. There are a lot of books…
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How to choose a Fund Manager?
In this presentation, Mr. Rukun Tarachandani delves into the process of identifying good fund managers. He begins by exploring the debate between active and passive investing, questioning whether it’s worth the time and effort to choose a fund manager. He then moves on to discuss the various nuances involved in fund manager selection, covering both…
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Personal Tax Simplified…
In this video, Raj Mehta tries to cover different aspects of personal taxation. This is continuation of the Wealth Management series where different aspects of personal finance are being covered. Apart from the taxation rates, he also tries to cover NRI taxation, foreign remittances, inheritance & estate tax as well as different structures in GIFT…
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Estate and Succession planning
Ms. Deepika More stresses the importance of planning for succession and estates to avoid family conflicts and legal battles over inheritance. Proper planning provides peace of mind, financial security for dependents, reduces taxes, and protects assets using tools like wills and trusts. Since different religions have their own inheritance laws, wills and trusts offer benefits…
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Untold truths about Insurance
In a recent presentation, Mahavir Chopra (Founder – beshak.org) provided valuable insights into the insurance industry. He discussed the 13 untold truths of the insurance industry and what all things a consumer should focus on. He also discussed what common mistakes consumers make while buying insurance. He explained that insurance companies depend on intermediaries to…
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Family Business vs Business Families – Understanding the difference
Mr. Rajeev Thakkar discusses the challenges faced by family businesses, especially when passing on the business to the next generation. He argues that family businesses should transition to becoming a “business family” by separating the business and family aspects. This helps preserve the business if family issues arise and vice versa. Some key challenges for…
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Factors driving ‘co-working’ spaces
Neeraj Marathe discusses the co-working space industry in India. Some key points: • Co-working spaces provide flexible office spaces for companies where they don’t have to worry about operational issues like cleaning, maintenance, etc. This makes it cost effective for companies. • There are different types of co-working models like pure co-working spaces, build to…
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Overview of OutsourcedElectronics Manufacturing companies
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“What to do once you are rich”
Mr. Rajeev Thakkar discusses what wealthy individuals should do after accumulating wealth. He talks about various aspects like investments, family businesses, alternatives and structured products. Regarding investments, he mentions that one needs a financial plan irrespective of the size of wealth. He cautions against obsessing over venture capital and startup investments. Though some investments do…
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Applications of AI in Medicine
The medical field has been one of the early adopters of AI tools. After CIO Rajeev Thakkar’s video on Recent Developments in AI, Fund Manager Raunak Onkar walks us through the application of AI / ML Technology in the healthcare field.
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Recent developments in AI and Investment Implications
The presentation discussed the rise of artificial intelligence and its implications. Rajeev Thakkar gave an overview of AI, from its early forms to modern large language models and generative AI. While AI has made great strides in tasks like vision, speech recognition and language processing, debates continue on whether machines have truly achieved human-like intelligence.
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Navigating the Smallcap Landscape: Opportunity and Challenges
In recent years, the Smallcap sector has garnered significant attention. This presentation employs a data-driven perspective to delve into the Indian smallcap equity market. We aim to determine if there’s a genuine opportunity within this segment and, if so, explore the challenges in capitalizing on that opportunity.
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Stepping Into The Footwear Industry
This video attempts to provide an understanding of the various aspects of the footwear industry. It highlights the similarities as well as the differences between some of larger listed and unlisted players within the country. Comfy Leather Shoes Manufacturing Process: https://youtu.be/6fOpGsUkOjU?si=s-Yzmyknib_V1MOT Palak Dalal.
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Understanding Wealth Management Industry
Research Analyst Yashodhan Nerurkar speaks about the different aspects of the Wealth Management industry & discusses the players, the business models & where the industry is heading towards with the introduction of fintechs and robo advisors.
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Understanding the Agri-Inputs Industry
This video is an attempt to break-down and understand the Agri-Inputs Industry. Abhishek Goenka – Equity Research Analyst, talks about the various sub-segments, product value chain & key drivers. Also talks about current global scenario of Agro-chemicals and major players in the Agri-Inputs industry.
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Decoding the Real Estate sector
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Investment opportunities in Fixed Income Space
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How to evaluate PSU companies
PSU’s can be a hit & miss while investing. PPFAS Mutual Fund CIO, Rajeev Thakkar walks us through various aspects while studying government owned businesses in India.
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Decoding Plastic Pipes industry in India
In this video, Raj Mehta gives an overview of the Plastic Pipes Industry of India and their evolution. This is the 3rd part of the Building materials series (1st part being tiles industry and 2nd being paints industry). He talks about various product categories as well as the major players & their strategies. He also…
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Global Snacking Industry
In this video, Raj Mehta gives an overview of the packaged foods industry of India as well as globally. He talks about various sub categories as well as the major players & their strategies. Disclaimer: Most of this industry is unorganized and it is difficult to get authentic industry data. Sources for all the data…
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Decoding Auto Ancillaries
This presentation is an attempt to decode the way that the Auto Component Industry operates and what factors should an investor keep in mind when investing in this industry.
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Understanding the Digital Advertising Business
From Mad Men to Mad Tech, the Digital Advertising industry has seen a remarkable growth & evolution in the past decades. Fund Manager Raunak Onkar, walks us through these changes.
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NeoBanks – Future of Banking
In this video we discuss how the Banking Industry has evolved globally, Concept of NeoBanks and try to understand if they are ready to overtake traditional banks.
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Understanding the Hospital Industry in India
The hospital industry is emerging rapidly due to progression in technology, increasing penetration in health insurance and growth in various lifestyle diseases across the country. Existing hospital chains are attracting fresh investment from domestic as well as international players to fund expansion in terms of investment in next-generation tools for diagnosis, geographical expansion, with a…
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Business and Capital Market Environment
Rajeev Thakkar provides a few glimpses into the variables driving today’s markets… and also looks ahead to how the transition to green energy may pan out.
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Evolution of Indian Broking Industry
Yashodhan Nerurkar – Research Analyst talks about how the Indian broking industry has come a long way from a era where brokers met physically to execute trades to an era which is led by a digital revolution; what the future looks like… and who would survive – discount brokers or traditional brokers or both?
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The World of Consumer Durables: Fast Moving Electrical Goods
An overview of the fast moving electrical goods industry along with a snapshot of some of the listed players. Please Note: A portion of the video (between 22:34 and 23:44 minutes) has been intentionally blurred.
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Understanding the World of Artificial Intelligence
Companies across sectors are talking of investments and increased productivity from Artificial Intelligence/Machine Learning (AI/ML). In this talk, Rukun Tarachandani (PPFAS MF – Fund Manager) takes a look at why & how AI/ML is making a difference to business, the challenges that companies face in adopting AI/ML and the companies that are trying to address…
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Understanding the Gaming Industry
Gaming has become our extended virtual life & Fund Manager Raunak Onkar walks us through some of the developments in the Gaming Industry & how the business of gaming works.
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Food Services Industry in India
In this video, Raj Mehta gives an overview of the Food Services Industry (FSI) of India and more specifically the QSR space. He also discusses the key metrics to keep a track of in the QSR industry and compares various players present in the industry. He compares them to the business models of global brand…
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Valuing Newly Listed (Loss Making) Unicorns
CIO Rajeev Thakkar speaks about how to make sense of the valuations of newly listed, loss making companies. Blog suggestion by Rajeev Thakkar: https://sajithpai.medium.com/exhaust-fumes-or-understanding-startup-valuations-610897d7bcf8 Sebastian Mallaby’s book: https://neckar.substack.com/p/a-history-of-systematic-serendipity?utm_source=url&s=r
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Indian Power Sector 2.0
Research Analyst – Yashodhan Nerurkar talks about the evolving landscape of the power sector, the role of exchanges & the importance of a well developed electricity transmission grid to facilitate a vibrant power market in India.
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The Business of Cybersecurity
Fund Manager, Raunak Onkar speaks about the different aspects of the Cyber Security industry & discusses the players, the business models & how it affects enterprises & all of us on a daily basis.
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Love China or Hate China, you cannot ignore China
Rajeev Thakkar discusses the economy of China, how different leaders of the same party have performed, some of the leading Chinese companies and… why he may not consider investing in them, as of now. We also recommend you watch this documentary on Li Lu, titled “Moving The Mountain”: https://youtu.be/L6kQmoAke2A
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D2C Brands in India
Raj Mehta talks about the history and the evolution of the D2C Brands in India. He talks about how these new age companies are disrupting existing business models and in which segments we are seeing these companies flourish. He also talks about how these brands evolve through their life cycle and how does the marketing…
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The World of Industrial Automation
During the September 2021 edition of the FOF, Raunak Onkar covered the evolution & progress of Industrial Automation and shared plenty of resources to understand its impact on the economy & society.
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Synopsis of the Electric Vehicle Ecosystem
Research Analyst – Rohil Gandhi, CFA summarises the: 1. Progress and Challenges of adopting Electric Vehicles in India 2. Economics of the Battery Manufacturing business, and 3. Methods of investing in this highly disruptive electrification journey of India
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Blockchain, Crypto, DeFi & other Mumbo Jumbo
Rajeev Thakkar lucidly explains the basics of three terms which have entered our lexicon relatively recently… Resources: https://bitcoin.org/en/https://ethereum.org/en/https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm
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Understanding The Global Semiconductor Industry
From How Chips are made to Why we face Chip Shortages, Fund Manager – Raunak Onkar introduces us to the economics of The Global Semiconductor Industry.
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The Food Delivery Industry – A Global Overview
A comprehensive view on the growth drivers, cost structures & competitive challenges for food delivery industry, keeping in mind, the upcoming Zomato IPO. Rohil Gandhi.
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Alcoholic Beverages Industry in India
Raj Mehta discusses the drivers for growth in the industry along with the key players, sub-segments, variables and regulations to keep a track of. Even though some companies are discussed, it is not a recommendation to Buy or Sell.
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IT Services & The API Economy
Mr. Raunak Onkar, speaks about the opportunities available for the IT Services sector, how the API Economy works & how it has helped software to take over all aspects of our digital & physical lives.
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Making sense of the last 12 months and the way forward
Our CIO, Mr. Rajeev Thakkar speaks about the behavior of the markets & its participants over the last 12 months, what it taught us & how to deal with what comes next.
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Overview of the Paints Sector
Raj Mehta explains the dynamics of the Paints industry and the competitive scenario within the industry. He also compares the top 4 players in the industry and what factors can be crucial to track for the sector.
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Financial Data as a Service
Raunak Onkar speaks about the dominance of various financial intermediaries who have built strong data networks to provide vital financial information to users & effectively have transformed themselves into strong financial data platforms.
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Understanding REITs and InvITs
In this presentation, we evaluate REITs and InvITs as an alternate investment opportunity and how it can give a good diversification alternative in your portfolio. We look at the basics of REITs & InvITs, regulatory landscape, taxation, how have REITs performed globally, current & potential listings and the track record of listed REITs and InvITs.
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What is it all about? | Factor Investing – Ep. 1
FOF is now simulcast every month in Bengaluru, New Delhi and Pune too. Click here to know more about FOF and subscribe… Presentation file: https://amc.ppfas.com/pdf-docs/fof/2020/factor-investing-episode-1-what-is-it-all-about%20.pdf
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Equity Risk Premium & Corroborative Factors | Factor Investing – Ep. 2
FOF is now simulcast every month in Bengaluru, New Delhi and Pune too. Click here to know more about FOF and subscribe… Presentation file: DOWNLOAD
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Value Factor | Factor Investing – Ep. 3
FOF is now simulcast every month in Bengaluru, New Delhi and Pune too. Click here to know more about FOF and subscribe… Presentation file: DOWNLOAD
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Size Factor | Factor Investing – Ep. 4
FOF is now simulcast every month in Bengaluru, New Delhi and Pune too. Click here to know more about FOF and subscribe… Presentation file: DOWNLOAD
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Momentum Factor | Factor Investing – Ep. 5
FOF is now simulcast every month in Bengaluru, New Delhi and Pune too. Click here to know more about FOF and subscribe… Presentation file: DOWNLOAD
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Beta Factor & Putting it all together | Factor Investing – Ep. 6
FOF is now simulcast every month in Bengaluru, New Delhi and Pune too. Click here to know more about FOF and subscribe… Presentation file: DOWNLOAD
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India Is Opening Up And so is the world
Mr. Rajeev Thakkar, CIO – PPFAS Mutual Fund, believes that both, #India and the world have reached a juncture where Governments are cautiously veering towards the belief that the desire to protect lives should be balanced by the need to protect livelihoods. Presentation file: https://bit.ly/2AqnDOf Source of the graphs used in video: https://www.worldometers.info/coronav…
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Predictable Surprises – COVID 19 version
Using the framework of Predictable Surprises to understand the current situation. Presentation file: https://bit.ly/3efDxdz
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Tanishq vs Tiffany – a comparison of two jewellery companies
Raj Mehta discusses the global jewellery sector and compares the business models of Tanishq and Tiffany. Disclaimer: The data presented might not be accurate due to lack of authentic industry data.
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Platform Companies or Modern Monopolies?
Platform Companies are different from traditional businesses. Raunak Onkar discusses how technology-enabled Platform Businesses operate, scale & compete and how businesses can embrace technology to effectively compete in the modern economy.
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What can value investors learn from quants?
The talk discusses the latest book on Jim Simons “The man who solved the market” and the increasing use of computing power and alternative data in investing in the quest for better returns.
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Flight to Safety: A look into Boeing & Airbus’ Duopoly and Impact on Indian Airlines
Rohil Gandhi discusses the Value Chain of the Aerospace Industry by doing an in-depth analysis of Boeing & Airbus’ business models and Impact on Indian Airlines due to recent disruptions.
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Views on the Logistics Sector in India
Are logistics companies becoming more like platform companies? Raunak Onkar discusses his views on the logistics space in India.
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Return of the boy who cried wolf
Proactively build scalable web services and cross-platform value. Objectively embrace client-focused relationships without empowered vortals. Appropriately revolutionize virtual action items through client-centered infrastructures.
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The business model of ride hailing – Uber, Lyft etc.
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Discussion on the tiles sector and overall building materials industry
Nitty gritties of investing in building material companies and more specifically the tile companies. The talk covers the competition from unorganised players, export potential for companies in the industry, premiumisation trends, and the impact of recent regulation changes on the industry.
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Breaking Bad with the Chemicals Sector
Chemicals Sector has been a wealth creator over the past decade. At our May 2019 FOF, Raunak Onkar speaks about how to analyse Chemical Businesses, the tailwinds & challenges ahead for the Industry. Please find the PDF Slides here: http://bit.ly/2VMVUkv
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Main hoon kaun (con)? – Anatomy of a Con Artist
Not all cons are alike. Each new con reveals a new way to dupe someone. At the April 2019 FOF, Rajeev Thakkar speaks about many international con-artists who have been implicated in financial frauds. He also discusses their process & some common patterns to identify such characters which might help to avoid getting conned.
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Understanding the Dairy Industry in India
Raj Mehta talks about the Dairy Industry in India. The talk spans across the history of the industry, different products & it’s market size as well as the variables an investor needs to take into account before investing in these companies.
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Understanding the Diagnostics Lab Business
Raunak Onkar takes a look at the Diagnostics Lab business. An easy to understand, a scalable, cash-generating business model with limited entry barriers.
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Investing in Cyclical Businesses
Our Guest Speaker, Mr. Jiten Parmar talks about his experience & what investors should be aware of when investing in Cyclical Businesses.
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Road to Zero
CIO of PPFAS, Mr. Rajeev Thakkar speaks about disintermediation in financial services.
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Looking back at the Telecom Sector
The Indian Telecom sector has seen a gut-wrenching consolidation in the past two years. Raunak Onkar speaks about what’s different now, discusses the trends & possible investment themes. Disclaimer: Viewers should assume that PPFAS’s Clients, PPFAS, its Directors, Employees have investments in the stocks and Mutual funds that are spoken about (long investment positions). We…
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On the eve of the launch of India’s first REIT, Rajeev Thakkar explains the nuances…
On the eve of the launch of India’s first REIT, Rajeev Thakkar explains the nuances… Disclaimer: Viewers should assume that PPFAS’s Clients, PPFAS, its Directors, Employees have investments in the stocks and Mutual funds that are spoken about (long investment positions). We do not short stocks or indices. We do not speculate in Futures and…
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A quick look at Online Travel Agencies (OTA’s)
Mr. Raunak Onkar talks about Online Travel Agencies (OTA’s) If you’ve ever had 50 browser tabs open while planning a vacation online, this talk will help you to understand various components of the Online Travel Business & related business models. Disclaimer: Viewers should assume that PPFAS’s Clients, PPFAS, its Directors, Employees have investments in the…
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Life Insurance (Part 2) – Revisiting the Sector…
Life Insurance (part 1): https://youtu.be/1KEPCz2dlq0 Life insurance companies are few and far between in the listed space. Some of the big names are HDFC standard life, Max life, ICICI prudential life, and SBI Life. The way to ascertain value is not based on price to earnings but embedded value. The embedded value is determined by…
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Points to consider while investing in AMCs
Rajeev Thakkar elaborates on what to look for, while investing in an Asset Management Company Extract from ‘Rajeev Thakkar discusses the business aspects of Asset Management'(Financial Opportunities Forum [October 24, 2017]) Disclaimer: Viewers should assume that PPFAS’s Clients, PPFAS, its Directors, Employees have investments in the stocks and Mutual funds which are spoken about (long…
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The Newspaper Business…
Continuing with the Media series, after discussing the Video & Audio streaming business, Raunak Onkar discusses the Newspaper Business. One of the oldest subscription services known to us, the newspaper business has gone through a tremendous transformation just like the other media businesses. In this video, Raunak tries to capture some of those key changes…
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The Music Streaming Business
At Financial Opportunities Forum (Apr 18th, 2018) Raunak Onkar discusses how the Music Industry has evolved with the adoption of technology and how it has changed the way we listen to music. Disclaimer: Viewers should assume that PPFAS’s Clients, PPFAS, its Directors, Employees have investments in the stocks and Mutual funds that are spoken about…
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Predictable Surprises in Investing
On March 20, 2018, at Financial Opportunities Forum, Rajeev Thakkar speaks about how Predictable events can be identified by carefully studying trends in different industries and businesses to derive investment ideas and insights about the future. Disclaimer: Viewers should assume that PPFAS’s Clients, PPFAS, its Directors, Employees have investments in the stocks and Mutual funds…
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A look at Private Equity Investments in the Indian Market
Mr. Rajeev Thakkar takes a look at how Private Equity businesses have shaped the business & investment climate in the Indian context. Private Equity investors have been involved in the Indian capital markets for a while now. They not only affect operational performance at many of their invested companies but also affect the market valuations…
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The current state of the Auto sector
Rajeev Thakkar on the current state of the auto sector…He also dispels a few ingrained notions about Maruti Suzuki and dwells on its parent, Suzuki Motors. Presentation is available here for download: https://amc.ppfas.com/pdf-docs/fof/au… Disclaimer: Viewers should assume that PPFAS’s Clients, PPFAS, its Directors, Employees have investments in the stocks and Mutual funds that are spoken…
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The evolution of the Media Value Chain
Raunak Onkar talks about the evolution of the Media Value Chain as streaming & subscription services have started to dominate viewers’ wallet share & argue about its effect on linear TV consumption. The presentation is available here for download: https://amc.ppfas.com/pdf-docs/fof/ra… Disclaimer: Viewers should assume that PPFAS’s Clients, PPFAS, its Directors, Employees have investments in the…
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Retail Payments Industry
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A Discussion on the Pharma Sector
If you’ve ever felt the Pharma sector is too difficult to understand, you’re probably right. With a lot of moving parts & uncertainty about the future direction, it’s tough to guess the fortunes of the sector. Raunak Onkar discusses the Pharma Sector in reasonable depth to help build a base to track the sector.
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“I don’t know” – Investing for “I don’t know” dummies
Equity returns are different in nature in different contexts and opportunities in markets. Typically returns are multiplicative in nature. Very frequently it’s not additive/asymmetric returns. These are situations where market presents rarely but can be rewarding. In concentrated portfolios, Asymmetry returns do arise. Probability plays an important role in the portfolio. for example, if out…
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Real Estate, Infrastructure and Commodities – For the 2017 Bull Market
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How ‘Creative Destruction’ in the auto industry may impact you!
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The Gloom & Boom in Offline Retail
Raunak Onkar, Head of Research at PPFAS Mutual Fund, speaks about the state of modern, physical retail stores in the wake of store closures and bankruptcies.
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Physiology of Finance (Behavioural Finance on Steroids)
Mr. Rajeev Thakkar talks about Physiology of Finance (Behavioural Finance on Steroids) at the recently held Financial Opportunities Forum Event.
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Cloud Computing Technology & its impact on traditional businesses
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Rajeev Thakkar discusses the business aspects of Asset Management
Mr. Rajeev Thakkar, CIO, PPFAS Mutual Fund discusses The Asset Management Companies in India. There are 44 asset management companies in India. Based on AUM alone, one cannot decipher whether the AMCs’ are profitable or not. Many aspects such as AMC assets composition, type of schemes, expense ratio need to be looked at, to assess…
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Raj Mehta talks on Ind AS and its implications on listed companies
The new accounting standards IND AS will have implications on earnings, revenues and valuations of companies. Some of the changes are only cosmetic in nature while some of them might have some deeper implications. Its effect on each of the company/industry might be different and needs to be evaluated individually.
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The Weapons of Mass Distraction
Technology is generally supposed to improve our productivity, but when we walk around with our hand held distractors, it becomes difficult to justify the productivity gains. At this month’s FOF, Thursday, January 19 2017, at the Garware Club House – PPF Hall, 5th Floor, Wankhede Stadium,’D’ Road, Churchgate, Mr. Raunak Onkar discusses the evolution of…
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Renewable energy and electric cars: The way forward
Rajeev Thakkar, CIO of PPFAS Mutual Fund discusses renewable energy, electric cars and the way forward. There was a time, when mobile technology was in its nascent stage and most were skeptical about its cost effectiveness. Today, the convergence of internet, e-mail and mobile technology has made it possible to transact online, connect to people…
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An overview of the Telecom Industry
With the telecom wars in the news recently we take a look at the sector as a whole, some historical context & see how it can help us find new investment ideas.
