Latticework Investor

Notes from the Value Investing Congress Twitter feed.

Amitabh Singhi of Surefin Investments

• Many sectors in India large and mature, many sectors, IT, power, real estate, telecomm, pharma have exploded
• 5000 listed companies in India, second to US
• Singhi says that in India, wealth is worshipped
• Bigger company valuations stretched, oppty in smaller co’s, little research coverage
• 1360 companies with mkt caps less than $10 million have no analyst coverage
• Buys “cigar butts”, Special situations, contrarian plays, and GARP
• Will buy net/nets
• Discussing Gujarat Pharmaceuticals, had an 80% return, then sold….became a 25 bagger ultimately
• Bangalor is booming, will have huge infrastructure needs
• bribery entrenched in India
• Singhi likes “cigar butt” Cheviot, which makes “Jute”, which is vegetable fibre. Trading at cash
• Cheviot trades below Is a net current asset value
• Cheviot has 26% ROE last 10 years
• Singhi avoids the following industries: metals, oil and gas
• If investing in India, better to have assets on the ground in country