Good morning my dear readers,

It has truly been a fantastic financial year for most in the markets (FY24). Congratulations to everyone.

What matters most is that we invest our savings regularly, but for the Long term.

~~

I came across this chart below on Social Media recently and it resonated with me, big time.

Personally, I believe the below chart to be true.

Frankly speaking, one must just move away from 'Noise' of trying to predict macros and just invest regularly for long periods with periodic rebalancing.

Things work out well once the investor's horizon moves into YEARS. Things work out f***** great if the horizon moves into DECADES.

*So the next time you hear people (especially economists 😅) Panicking on television because GDP growth is 7.1% instead of 7.4%, laugh a little, SIP your coffee and then proceed to SIP your portfolio a bit too.

(Remember, SIP should always be at portfolio level, and not just buying the stocks which have fallen the most).

______________________________________________________________________

Mentorship, the key to everything.

As always, we start with the greatest role model of all, Warren Buffett, he went off to Graham and sucked every last bit of knowledge from him, modified the theory of investing to suit his own style and went off into the proverbial Sunset as the greatest investor, ever.

~

Listen, I am of the opinion that we must be self made and foster an environment of critical thinking, coming from within us.

So when I say mentorship, I don't mean to copy someone's entire playbook.

(We must always be unique).

~~

Before we proceed further, I will give you my example.

I'm 39 years of age now.

If I have to sum up my journey in reverse, I will say, yes, Negen, as a fund has done good.

But had I not had the great fortune of starting early at age 15, I would have been doomed.

Took me a good 15+ years to figure things out, the final process, which works for me.

If only, iffffffff only, the idiot me would have had the basic sense to find a strong special situations investor in my early years, and learn from him, let's say when I was 20yrs old, I would have been in a different ORBIT today.

('Compounding' and 'Time' matter, they are the most important commodities I know now).

I wouldn't say that I "wasted" my initial 15+ years, they were all part of the learning curve, but damn right I can say one thing, my 'learning curve' would have been much shorter with a good guide or a mentor.

~~

I was also lucky that I found 'my formula', which works for me.

Many aren't so lucky with their mistakes and learning curve, the market is an unforgiving place for mistakes.

~~

So yes, back to topic..

If you are young and starting in market now or you got kids who are getting into markets or whichever profession they like, ensure they have a great coach.

Trust me, in the current moment, we can never realise what we are doing is right or wrong, but having experienced eyes watching over us, we can eliminate years of pain and tears and get to the personal 'magic formula' earlier than usual.

Because, as I mentioned above, Time and Compounding, they are most important.

A great coach can be the biggest difference maker in a young, budding entrepreneur's life.

(We swim in treacherous waters, especially as entrepreneurs or investors, a guiding force can be very important for us to avoid fatal moves).

~~

So yeah, it's been a phenomenal journey, writing this newsletter, I sincerely hope it has added value to you.

I don't know much, but whatever I do know, I have tried to explain over the past newsletters.

This last piece, I felt was very important to sign off with..

1- Long term investing, years and decades.

2- Starting early.

3- A great coach.

~~

🥺

Watch over yourself, my dear coffee friend.

Make it your life mission to settle for nothing lesser than excellence.

And remember, our 2050 Yacht party 🛥️.

(26 more years to go of patient and regular investing. No speculation. No panicking).

~~

Dear God, it's hard to let go.

My best, one final time.

Neil Bahal

Your friendly neighborhood Fund Manager

Negen Capital

You'll Never Walk Alone (ynwa).

*I'm too sad to do spell checks and wife jokes 😔.

Disclaimer: This newsletter prepared by Negen Capital Services Pvt. Ltd (Negen) is for educational and information purposes only. Negen is a SEBI registered Portfolio Manager and acting as an Investment Manager to AIFs registered with SEBI.

While the newsletter discusses just general market insights and past case studies, still, the investments in stock market have very high risk which can result in losses including loss of principal. The companies referred (if any) in the newsletter are only for informational purposes. Negen does not recommend to subscribe to the securities of any of the companies referred in the newsletter. The readers are always advised to independently evaluate and/or consult their financial advisors before making any investment.

No one has paid us to write this newsletter.

No representation or warranty, implied or statutory, is made as to the accuracy, completeness or fairness of the contents and opinion contained herein. The information can be no assurance that future results or events will be consistent with this information. Any decision or action taken by the recipient based on this information shall be solely and entirely at the risk of the recipient. Negen or its employees or directors are not responsible for any decision taken by the recipient. Again, investing in equity market has very high risk which may also result into loss of principal amount. The recipients shall read respective Fund documents carefully beforev investing.