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📈 Market Kya Lagta Hai
Nifty 50 🔼 +1.78%
Midcap 150 🔼 +2.67%
Smallcap 250 🔼 +2.69%
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Sectors in Focus
Major Corporate Developments This Week
- FMCG Stocks: Government of India cuts import duty on Soya oil, CPO and Sunflower oil from 20 percent to 10 percent.
- Oil downstream stocks: OPEC+ agreed to surge oil output by 411,000 barrels a day for the third month in a row
- Ircon: Company Secures Rs 1,068 Cr EPC Contract from East Central Railway for Ganga Rail Bridge Project.
- NIBE: Company was signed by DRDO’s arde for a technology transfer agreement with, pune, for manufacturing pinaka mbrl and battery command post to boost indigenous defence production.
- Himalaya Food: Company received a bulk export order for Himalaya Baked Potato Skins from Penobscot foods, USA.
- Adani Energy Solutions: Company received order of Rs 1,660 crore inter-state transmission project in Maharashtra.
- Kajaria Ceramics: Company commenced commercial production of tile adhesive at its Rajasthan Unit.
- Godrej Props: Company acquires approx 14-acre land in Kharadi, Pune for a proj with an Est rev potential of ₹4,200 cr.
- IndiGo: Company signs MoU with Airbus for 30 more widebody Airbus A350 aircraft taking the total order for A350 planes to 60.
- JBM Auto: JBM Green Energy Systems’ orderbook soars to 3 GWh for Battery Energy Storage Systems (BESS) deployments pan India.
- Infosys: Company announced the launch of AI agents for invoice processing within its Infosys Accounts Payable on Cloud solution.
- Rudra Gas: Company announced the receipt of a Letter of Award (LOA) from Indraprastha Gas Limited. The contract, valued at Rs. 14.05 Cr
- Mazagon Dock: India’s First Dual-Coast Submarine Manufacturing: Mazagon Dock, Hindustan Shipyard to sign historic pact
- Diamond Power: Company has entered a strategic partnership with TS Conductors, USA, to manufacture high- performance transmission conductors.
- Ajmera Realty: Company announced the early completion of its luxury project, Ajmera Prive, in Mumbai, receiving
- Biocon: Company gets approval for diabetes drug Liraglutide in India
- Frontier Springs: Company Has Received Orders for Air Springs Assembly Aggregating to a Total Value of Rupees 92.6 cr
- Sarda Energy: Company received consent to operate from Chhattisgarh Environment Conservation Board for its coal washery expansion in Raigarh (C.G.). The expansion increases production capacity from 0.96 MTPA to 1.8 MTPA.
- Man Ind: Company announced plans to raise up to ₹300 crore through a preferential allotment of convertible warrants and equity shares
- Salzer: Company announces the incorporation of a Special Purpose Vehicle, Effilume Private Limited, in partnership with Schnell Energy Equipment Private Limited
TechnoFunda Investing Quote from Legends -
Peter Lynch is pointing out that successful investing doesn’t require a perfect win rate. Even if you're wrong on 4 or 5 out of every 10 investments, you can still do extremely well if the ones you get right grow significantly—by 4x, 10x, or even 20x. The idea is that a few big winners can drive the overall performance of your portfolio, easily offsetting the losses from the investments that didn’t work out. This reinforces the importance of holding on to potential big winners and not getting discouraged by occasional failures.
📚 Book I'm Reading This Week
Seeking Wisdom: From Darwin to Munger by Peter Bevelin is a multidisciplinary exploration of how to think better and make smarter decisions. Drawing insights from biology, psychology, physics, and the mental models of great thinkers like Charles Darwin and Charlie Munger, the book delves into the common cognitive biases and errors in judgment that hinder clear thinking. It encourages readers to develop a latticework of mental models and to approach problems with rationality, curiosity, and humility. A favorite among investors and lifelong learners, it’s a practical guide to improving decision-making across all areas of life.
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TechnoFunda 101 - Power Capsules
Learn technical as well as fundamental concept in a simple way
High Risk ≠ High Return — Understanding Risk the Howard Marks Way
For decades, one of the most widely accepted beliefs in investing has been:
"The greater the risk, the greater the return."
But as Howard Marks explains in his insightful memo, Risk Revisited, this belief is dangerously misunderstood.
Let’s explore why.
🧠 The Big Misunderstanding
Most investors interpret this phrase to mean:
"If I take more risk, I should expect more return."
Or worse:
"If I want more return, I must take more risk."
But Marks turns this on its head.
Taking more risk doesn’t guarantee higher return — it only increases the range of possible outcomes, both positive and negative. It raises uncertainty, not reward.
In reality, higher risk means a greater probability of loss.
💣 Why High Risk ≠ High Return
Marks clarifies:
“If riskier investments could be counted on to produce higher returns, they wouldn’t be riskier!”
The market doesn’t pay you for taking risk.
It pays you for identifying mispriced risk — where the perception of risk is higher than the reality.
This is the core of successful investing.
🔍 The Real Definition of Risk
Most people equate risk with volatility. But Marks argues that volatility is just movement — not danger.
He defines risk as:
“The likelihood of permanent capital loss.”
This reframing matters.
Volatility can be an opportunity. But permanent loss — due to poor judgment, overvaluation, or deterioration in fundamentals — is true risk.
🎯 What Smart Investors Do
Instead of chasing high returns by taking on more risk, skilled investors:
✅ Focus on avoiding big losses
✅ Seek asymmetry — situations where upside potential far outweighs the downside
✅ Evaluate true business risk, not just price movement
✅ Buy when perceived risk is high but actual risk is low (e.g., during panic-driven selloffs)
📌 Key Takeaway:
High risk doesn’t promise high return — it just opens the door to more extreme outcomes.
The real edge lies not in taking risk blindly…
…but in understanding it better, pricing it correctly, and managing it skillfully.
“The most important thing is not to be right, but to avoid being wrong in a big way.” — Howard Marks
Would you like a visual showing “Perceived Risk vs Actual Risk” or “Good vs Bad Risk” as a shareable asset? I’d be happy to create that for your audience.
🎙️ My Weekly Podcast For You
Keep Compounding...
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Vivek Mashrani, CFA
Founder, TechnoFunda Investing
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