Good morning my dear readers,

Life is too short. We need to do two things right..

1- Enjoy the weekends, thoroughly.

2- Learn, Learn, Learn and then try to also implement the learning.

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Which horse to back?

No, I am not telling you to head to the Race Track and speculate on Horse Racing. That is the most sure fire way to lose all your money =)

Instead, I am talking about PROMOTERS!

Ok, I am going to keep this short on the Gyaan-baazi.

(Think of this particular Newsletter as a Youtube Reel).

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I may have gone through 200 documentaries, podcasts and books on extraordinary Entrepreneurs and Investors.

And these entrepreneurs and investors span over the last 100 years..

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What was the one, biggest common theme in most successful entrepreneurs and investors?

**They are all mostly 'First Generation' and would come from very humble settings.

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Hence, this has become one of my check points recently. I love to evaluate middle aged, first time entrepreneurs.

(Ofcourse, there would be second and third gen entrepreneurs who have been successful, surely).

But it is the First Gens who have been in the 'Do or Die' Situation at home where they have NO OPTION but to work 16-18 hours a day to provide a living for their families.

And these strong initial habits stick with them for their life-time!

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And this is exactly the kind of promoter we want working for us!

The ones who work the whole day and are obsessed with their work.

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The second and worst still, the 3rd gen are what we call the 'Khandaani Rich' people.

These kids have flown business class all their lives and never stayed in any hotel which is below a 5 star.

Mostly, these kids 'Gauge' the crowd for which school should they send their children....and so on and so on..

(The 'parent' crowd should be of their ELITE level).

Hence, you definitely do not want these entitled kids working for you. Far from it..

(Ofcourse, a quick scuttlebutt goes a long way to establishing this thesis).

I always try my best to ask the office staff if the boss works 16-18 hours, does he abuse and ill treat the employees etc.

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Conclusion: You need a horse which was born in the forest, who had no other option but to survive, EACH DAY and ensure his family did the same.

Not a horse which was born in 5 Star Zoo.

(Ofcourse, exceptions are there in every situation. But a quick scuttlebutt on the founder of your investee business will go a long way).

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The Reel ends here..

Guys, keep a watch on the Defence sector. I believe this is the sector for the next decade.

(Dont throw tomatoes on me if I get this wrong. But I have a very strong feeling).

Signing off,

Neil Bahal

Founder

Negen Capital

Ps- I am myself second generation. But I would like to believe that I am an exception to the above rule :) :) :)

=)

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Disclaimer: This newsletter is for educational purposes only. While the newsletter discusses just general market insights and past case studies, still, the stock market is a very risky place which can result in losses.

Hence, always check with your financial advisor before acting on any contents of this newsletter.

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

Again, investing in equity market has high risk. You must consult your financial advisor before making any stock market related decisions.

Negen Capital is a SEBI registered PMS & AIF.