As we all saw a highly fluctuating scenario in terms of indices and individual stocks, I personally feel there are few great stocks which can be accumulated at this sudden and volatile dip and anyone holding the following mentioned stocks with a medium term frame (8-12 months) will surely earn very good returns from CMP.
Stocks that could give you very good returns with medium term frame (8-12 months).
VERY LOW RISK – SURE GAINERS (40-50% from CMP )
These are the ones which have minimum risks (Except for adverse market conditions) but will surely give handsome returns.
1. Jai Balaji Industries – (CMP 230.70) Visit http://www.jaibalajigroup.com/ the company has set high goals and has already surprised by surpassing all estimations. Though currently looks impossible, don’t be surprised if it doubles from here within the stipulated period.
2. UFLEX – (CMP 214) Growth Story is still intact, upside of 50-60% is definitely possible from CMP.
3. Firstobject Technologies Ltd (CMP 22.20)- Very good company with very robust growth initiatives and catering to very vast majority within its sector. This is a sure multibagger and will be covered separately in multibagger section.
4. L&T (CMP 1936.00)– “Sirf Naam hi kafi Hai” The name itself is enough. Ok, Jokes aside, this is a stock for permanent holding. However, one with medium term outlook can also invest at CMP for a good 30-50% returns over the period of one year.
5. Tata Steel (CMP 598.25) - What much information is required about this gem. This is a good bet for short, medium as well as long term outlook. This is one stock which is a “must have” in all portfolios whosoever wants some exposure in metals.
6. Bharti Airtel (CMP 333.55)– One of the best telecom picks, if this company cant give you 30-50% returns from here, then all you need to think is Telecom as a whole isn’t performing. This is very good company by any standards.
7. SBI (State Bank Of India) (CMP 2858.85) – No other Public sector bank has portfolio as diversified as this. A sure-shot winner, the longer you hold the better the returns are.
8. SPML Infra LTD (CMP 240.00)- Already covered under Multibaggers section. No extra need to elaborate. Available at cheap rates comparatively, just add and enjoy.
LOW RISK but SURE SHOT MULTIBAGGERS
The following stocks are a bit more risky compared to the ones mentioned above but will surely yield very good returns if one has in the portfolio and is ready to wait for 12-18 months. Irrespective of the market conditions these are sure-shot winners.
1. Punj Lloyd (CMP 96.20)– You just cannot be a XYZ million dollar company and keep underperforming. The turnaround will surely happen and its just a matter of time so anyone with a 12-18 months outlook investing at CMP will smile happily all the way to the bank.
2. Sumeet Industries (CMP 23.75) – Expansions are pretty much performing and once the annual EPS hovers around 8, this becomes a pure “re-rating” candidate. Expect at least 100% returns from CMP same time next year. This is a multibagger for sure however, lets assume very conservative estimates always to be on safer side.
3. Confidence Petroleum (CMP 19.45) - No-brainer, A company with sudden burst in its order book and a very good management will surely surpass all estimations. So, buy at CMP and expect atleast 100-150% returns within a year’s time.
4. Pratibha Industries (CMP 64.50) – Pure Infrastructure theme play, it might turn out to be a dark-horse over the next year and half.
5. Ganesh Polytex (CMP 61.80) – Nothing more to say about this company than this one liner “All that is waste to you might be gold for someone else.” Pure waste-management and recycling company with great fundamentals. Visit http://ganeshpolytex.in/products_services.html and also don’t forget to check http://ganeshpolytex.in/research_report_on_gpl.html. This link has all companies covering and analyzing this company in detail also have a look at their targets. The best among these are the ones covered by HBJ.
About This Site
Monday, November 29, 2010
Saturday, November 20, 2010
WHY BET ON WATER?
Hi All,
As mentioned previously, my article was purely fact based, but here seems another article which i happen to chance on google search for Water Treatment.
The attached pdf file is not mine and its only fair that the credit to the content of this pdf file should go to the original. I have given it just for reference.
www.ghallabhansali.com/admin/file/Water.pdf
Please read it and make your own decisions, whether or not to invest in SMPL. The very fact that this company has also been mentioned in the file should confirm my original thinking to larger extent.
Regards,
As mentioned previously, my article was purely fact based, but here seems another article which i happen to chance on google search for Water Treatment.
The attached pdf file is not mine and its only fair that the credit to the content of this pdf file should go to the original. I have given it just for reference.
www.ghallabhansali.com/admin/file/Water.pdf
Please read it and make your own decisions, whether or not to invest in SMPL. The very fact that this company has also been mentioned in the file should confirm my original thinking to larger extent.
Regards,
Wednesday, November 17, 2010
MULTIBAGGERS - SPML INFRA
As promised I am disclosing what I think will be a multifold return yielding stock in the years to come from CMP (current market price).
The name of the company is SPML INFRA (Formerly known as Subhash Projects and Marketing Limited.
Company website: http://spml.co.in/aboutus/profile.htm
The name of the company is SPML INFRA (Formerly known as Subhash Projects and Marketing Limited.
Company website: http://spml.co.in/aboutus/profile.htm
COMPANY OVERVIEW
The Company operates in the field of water, power, environment, infrastructure, manufacturing and technology. The Company has four business segments: construction, wind power and others. Construction segment consists of execution of projects. Wind power segment consists of electricity generated from wind farms. Hydro power generation consists of electricity generated from hydel projects and buying energy from seller/surplus power producers, and selling to buyer/ deficit state utilities. Others consist of manufacturing of pipes, management of waste, other utility management and trading activities. The Company's subsidiaries include Neogal Power Company (P) Ltd, Awa Power Company (P) Ltd, Luni Power Company (P) Ltd, SPML Infrastructure Limited, IQU Power Company (P) Ltd and SPML Industries Limited.
SPML Infra Limited (formerly Subhash Projects and Marketing Limited) is a leading Infrastructure Development company with over 30 years experience in the public as well as private sector. SPML was incorporated in 1981 and listed as a public limited company in August 1983. An ISO – 9001: 2000 certified company. It has offices in Kolkata, Delhi, Mumbai, Bangalore, Chennai, Jaipur, Patna and Guwahati.
SPML is a single source solution provider for various multi disciplinary engineering and infrastructure services from conceptualization to maintenance in Water, Power, Environment and Infrastructure projects.
Having established it’s leadership in the contracting business, SPML has proven business capabilities in the Water, Energy, Environment and Infrastructure domain, on a Public Private Partnership (PPP) & Build-Own-Operate-Transfer (BOOT) basis. SPML Group is developing infrastructure projects with projected investments worth Rs.150 Bn; USD 3.7 Bn.
MAIN FORAYS OF THIS COMPANY
1. WATER INFRASTRUCTURE
We are all aware of the significance of water in our day to-day activities. There is alternate source for hydro-power (like biofuels, wind energy, solar energy) etc, but you cannot substitute the consumption of water in our daily life, be it for drinking, irrigation etc. It is only going to get more and more important in future. SPML provides turnkey water management solutions – Headworks to Distribution System – comprising aspects such as canals, irrigation network, hydrology, reservoirs - storage facilities and distribution; components such as intake water, weirs, pumping machinery, pipeline works, pipeline distribution networks and associated civil works They have gained commendable expertise in Portable water, water pumping stations, water treatment plans, Public water supplies, Effuent Treatment Plants, Sewage Treatment Plants etc.
Their accomplishments are clearly mentioned in the following link http://spml.co.in/business/epc/water.htm (Go to Signature Projects section)
2. POWER SBU
It’s a known fact that INDIA is a power-hungry country and to satiate the needs all forms of power generation is given significant importance.
Check http://spml.co.in/business/epc/power.htm and there is nothing much I need to explain.
3. INFRASTRUCTURE SBU
Check http://spml.co.in/business/epc/infra.htm for infrastructure details.
I don’t think I should add anything more since our country expenditure for Infrastructure is a long-term story and this is one player which will benefit in great way.
4. ENVIRONEMENT SBU
Again more than me explaining anything this link will provide more detailed info
http://spml.co.in/business/epc/environment.htm
I feel this is the future since environmental issues will always be a major factor going forward especially so for developing nation like ours.
5. OTHER BUSINESS
THE COMPANY ALSO HAS FORAYED INTO MANUFACTURING AND MINING RECENTLY and I have seen their factory in Karnataka. I am quite impressed by their management and they seem to be open to any queries or suggestions.
http://spml.co.in/business/others/manufacturing.htm
http://spml.co.in/business/mining/mining.html
6. TECHONOLOGIES
http://spml.co.in/business/others/technology.htm
Technology is their latest foray and as an example for this the electricity bill that we receive in Karnataka has their stamp on it (they cater to all electricity boards in Karnataka).
COMPANY'S FINANCIAL RECORD SO FAR:
Coming to the company’s financials, it has shown great and consistent profitability YOY and QOQ too.
For more detailed earning report click here http://spml.co.in/mediaroom/press.htm or you can also check BSEINDIA.COM
WHY I AM INTERESTED TO INVEST IN THIS COMPANY:
The very fact that the company is sure winner in its segment and its competitive excellence has made me choose this stock among all other infra plays. Its growth on consolidated basis is expected to be 13-15% in FY11 given its strong order book and its execution efficiency, operating and net profit growth will also be much higher (expecting it to be around 28-30% and 40-50% respectively). The PAT margins will also be good going forward and the management expects revenue contribution from Water Management alone will increase to about 70-80% which again will improve operating and PAT margins since water management offers better margins than any other infra play (Ex: power). Strong Order book of above 45 billion (on consolidated basis) and many such live projects provides us a very good earning visibility for next 2-3 years atleast.
I don’t want to compare with its peers like IVRCL etc mainly because SPML is unique as well as very diversified and even a peer comparision clearly reveals that its trading at lesser P/E than IVRCL, NAGARJUNA Constructions etc. Primarily this seems to be because of lack of brokerage coverage and neither this company is shown 24 x 7 on any channel unlike many of its peers.
CONCLUSION:
Since it is hidden from many major broker firms, it is good to accumulate with a longer frame in mind. Personally, I have started accumulating this scrip at every dips and will continue to do so for the next two quarters.
I expect this to give at the least 5 times returns in the next 2 years frame and considering that the CMP is 274, I see it to break the 1000 levels by June 2012.
Remember to hold on to this gem and add more if market provides any further opportunities before any major broker firm covers this.
Always Remember RJ’s words:
Look at the sources of Profits. What are the reasons that will give rise to Profits in the medium and long-term term.”
Look at the factors and circumstances that will create an opportunity for business in the sector.
If it’s cheap, buy it- Don’t pass up something cheap today in the hope that it will get cheaper tomorrow:
JUST KEEP ON ADDING IN SMALL QUANTITIES IF YOU ARE A LOW-RISK TAKER INVESTOR AND OVER A PERIOD OF THREE YEARS DON’T FORGET TO THANK ME.
ONE VERY STRONG POINT: THE REVENUES MIGHT BEAT EVERYBODY’S EXPECTATION ON THE HIGHER SIDE IN FY12 (reason is simple all its latest forays will be contributing significantly by then).
THE LONGER YOU HOLD THIS COMPANY, THE MORE MULTI-FOLD BAGGER IT WILL BE.
Disclaimer: Investment in equity shares has its own risks. Sincere efforts have been made to present the right
investment perspective. Do your own research before you invest, not after investing. I can only guide/share but cannot guarantee 100% targets. It's up to the individual to take a call on what I suggest. As far as I am concerned, I will be investing in all/many of the stocks I recommend.
RAKESH JHUNJUNWALA INTERVIEW
For all those who could not follow the link, I have pasted it from the original website for you guys to read. Please remember its not mine but courtesy the following website :
http://www.rmdhar.com/
rmdhar.com
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Rakesh Jhunjhunwala’s tips on how to find multibagger stocks
Rakesh Jhunjhunwala is the Mother Theresa of the investment world because not only is this Living Legend eager to share his investment techniques with us, he is also happy to let us in on the most well guarded investment secret on how he made his billions
But, Rakesh Jhunjhunwala, the wise sage that he is, is a man of few words. Rakesh Jhunjhunwala is reticent. When Rakesh Jhunjhunwala speaks, it is because he has something to say and not because he has to say something! So we scoured through hundreds of transcripts to decode Rakesh Jhunjhunwala‘s investment secrets. Now, we are proud to present our own version of Rakesh Jhunjhunwala‘s tips on how to find multibaggers.
Rakesh Jhunjhunwala‘s Tip No. 1: Don’t Look For Multi-baggers
Rakesh Jhunjhunwala‘s first investment mantra on how to find multibaggers is surprisingly different from what you would expect. Rakesh Jhunjhunwala says: "Don’t look for multibaggers. Don’t seek them at all. Let the multibaggers come to you!"
What is Rakesh Jhunjhunwala saying?
What Rakesh Jhunjhunwala is saying is: Don’t go out into the investment world saying "I only want to invest in potential multibaggers". Instead, Rakesh Jhunjhunwala, the Investment Guru, says "Go back to the old-fashioned way of making investments designed by investment maestros Benjamin Graham, Peter Lynch and Warren Buffet". "If your homework is right and you have invested in fundamentally sound companies with good growth prospects, your investments will by themselves become multibaggers with the passage of time".
Sounds simple but Rakesh Jhunjhunwala is not content with giving abstract or theoretical advice because this great investment legend already knows that his disciples are a bunch of doubting Thomas and even his words of undeniable gospel will be met with stoic skepticism.
So, Rakesh Jhunjhunwala gives examples of what he means.
Rakesh Jhunjhunwala gives the example of BEML which several years ago was quoting at a pittance because it was regarded as a slothful government enterprise. No investor in his right mind wanted the shares of BEML at that time. But while other investors saw a sluggish government corporation, Rakesh Jhunjhunwala saw efficient management, a great product line-up and effeicient cash-flows. The result: Rakesh Jhunjhunwala got a bountiful; he got his multibagger
One example is not enough to convince the cynical masses. So, Rakesh Jhunjhunwala gives another example – that of Bharat Electronics – which also was regarded as a Babu-wala company by other investors who couldn’t see what Rakesh Jhunjhunwala‘s discerning eye could. Another humble company turned into a multibagger by sheer passage of time!
Now you are convinced. But Rakesh Jhunjhunwala does not rest. He goes for the jugular. Now, Rakesh Jhunjhunwala gives a counter example.
What would an investor "looking" for a multibagger have bought in the heady days of 2000? The naive investor would have looked around and seen "spectacular" companies like Himachal Futuristic, Global Tele, Pentasoft soaring on the stock exchange, making new highs every day. So, the foolish investor would have tanked up on these shares thinking that these shares were his best bet to net a multi-bagger.
The result: You don’t need the great Rakesh Jhunjhunwala to spell that out for you.
So, now you know why Rakesh Jhunjhunwala says: "Don’t look for multibaggers!"
Yes, the point sinks in and you have understood but then you rub your eyes incredulously and ask "But what do I look for in a share?"
Rakesh Jhunjhunwala is not regarded as the greatest investor in India for nothing. He has a well-considered answer for that as well. And if you think about it, Rakesh Jhunjhuwala’s answer is made up of pure common sense.
Rakesh Jhunjhunwala‘s Tip No. 2: Don’t Look for Profits; Look For Sources Of Profits
Rakesh Jhunjhunwala cautions that most investors obsess about the current sales and profits. They look at each quarter and focus obsessively on short-term profits. "That’s missing the wood for the trees" says Rakesh Jhunjhunwala.
Instead Rakesh Jhunjhunwala says "Look at the sources of Profits. What are the reasons that will give rise to Profits in the medium and long-term term".
Rakesh Jhunjhunwala drives home the point. "Look at the factors and circumstances that will create an opportunity for business in the sector".
Rakesh Jhunjhunwala gives the classic example of Infosys and Wipro. While the average Joe would have sat with his calculator analyzing Infosys’s & Wipro’s PE, ROE and nonsense like that, an astute investor in the 1990s would have realized that an internet revolution was coming in the next couple of years. He would have also realized that the off-shore business segment was booming and he would have tanked up on those shares.
Rakesh Jhunjhunwala gives another spectacular example: That of Praj Industries, a company engaged in manufacture of bio-ethanol fuel. When Praj Industries started out, nobody realized the massive demand that would arise for alternate fuels like ethanol. An investor would could have foreseen that would have had his multibagger.
Rakesh Jhunjhunwala‘s Tip No. 3: Forget ‘Large Cap, Small Cap’ Nonsense – Look For Scalability Of Operations:
Rakesh Jhunjhunwala makes two very important points. First, the investing maestro expresses his contempt for the obsession that many analysts and investors have for the debate on whether large cap, mid cap or small cap stocks are better. "Forget all that and Look for Value" he thunders. "If there is value in Large Cap, buy it. If there is value in Small Cap, buy it. But don’t obsess on irrelevant matters", says Rakesh Jhunjhunwala, the one with infinite wisdom.
But Rakesh Jhunjhunwala makes his preference quite clear. He says that given a choice and all things remaining equal, a mid-cap or a small-cap is a preferred bet because the valuations will be low and they can scale it up quite quickly.
Rakesh Jhunjhunwala‘s Tip No. 4: Give it Time, Be Patient:
Rakesh Jhunjhunwala reiterates what the maha investment gurus like Benjamin Graham and Warren Buffet have been advising over the past several decades. Warren Buffet was plain in his advice "Our favourite holding period is Forever". Rakesh Jhunjhunwala gives the same advice: "Give your investments time to mature. Be Patient for the World to discover your gems". Rakesh Jhunjhunwala cites the examples of Crisil, Titan and Pantaloon Retail which he has held on for several years now and has absolutely no intention of divesting them any time soon.
When Rakesh Jhunjhunwala bought Lupin it was just another mid-cap pharma company starting out into the world of generic drugs. What Rakesh Jhunjhunwala saw was a good efficient management which knew its job, a debt-free status, a good product line up and a growing market. That’s all. Rakesh Jhunjhunwala bought and played the waiting game. When the market matured, Rakesh Jhunjhunwala raked in his billions.
Rakesh Jhunjhunwala also fondly talks about his investment in Karur Vysya Bank which he has held onto even after about 20 years since he bought them. He says that his paltry investment of Rs 2,000 is worth several crores today thanks to the patience and conviction that he showed.
Rakesh Jhunjhunwala is never tired of emphasizing that first you must always remember that you are buying a business and not just a little thing that bounces 2% around every now and then. When you buy that business, it must be of a very high quality, one that is capable of growing over time. Having done your hard work, you must wait for the market to do its work and reward you, says Rakesh Jhunjhunwala.
Rakesh Jhunjhunwala‘s Tip No. 5: Don’t get carried away by short-term aberrations:
Rakesh Jhunjhunwala cannot stop criticizing investors who are obsessed with short-term trends. Rakesh Jhunjhunwala emphasizes that he does not worry about quarterly results. If the results are bad in one quarter, he does not get perturbed. What Rakesh Jhunjhunwala is looking for is: Is there a trend? Are the quarterly results showing a trend and suggesting something or are they a mere aberration?
Rakesh Jhunjhunwala also cautions that one should not get carried away by short-term trends. He cites the oft-repeated example of 1999 when investors bought truck loads of Himachal Futuristic, Global Tele, Pentasoft while he used to buy Shipping Corporation and Bharat Electronics because he saw long-term value in them. The Oracle of Mumbai says “Never get carried away by aberrations, recognize and respect them but do remember that the market corrects its aberration though it takes time.”
Rakesh Jhunjhunwala then adds that if the market behaves irrational and punishes a stock for short-term aberration, that’s the time for you to jump in. Rakesh Jhunjhunwala cites the classic example of Titan Watches to buttress his theory. Rakesh Jhunjhunwala says that Titan suffered in a moment of crisis when it went into Europe and lost a lot of money. Rakesh Jhunjhunwala says he wasn’t perturbed because he knew that what is most important for Titan is India’s prosperity. Rakesh Jhunjhunwala envisaged the future and knew sub-consciously that Indians were going to buy far many watches and that the underlying business should be great. So, says Rakesh Jhunjhunwala, in a moment of crisis you can get great valuations and if you can envisage the future where the product could have great demand and great growth, you should use the opportunity to buy.
Rakesh Jhunjhunwala‘s Tip No. 6: Invest in a business that you can understand:
If you look at it hard enough, you will realize that Rakesh Jhunjhunwala‘s reluctance to buy Himachal Futuristic, Global Tele and Pentasoft even in their heydays and his preference to stick to Shipping Corporation, Bharat Electronics and the other tried and tested names reveals another great investment tip from the Prince of Dalal Street: Buy what you know. Do you understand the business enough to be able to know what will happen 10 or 20 years from today. With Shipping Corporation, you can because shipping of goods will continue to happen for our foreseeable future. But you can’t tell that with technology companies which may have a great product today but which may become obsolete in 5 years.
Rakesh Jhunjhunwala‘s Tip No. 7: Don’t worry about the macro stuff like fiscal deficit, inflation etc which are unknowable. Focus on what is knowable:
Another immensely practical tip from Rakesh Jhunjhunwala, India’s greatest investor, for us folk who keep obsessing about currency fluctuation rates, inflation, fiscal deficit, political turmoil is: “Don’t worry about things that you neither know about nor can do anything about. It’s not important. Instead focus your energies on what you can and should know well enough – the business of the company you are investing in“.
Rakesh Jhunjhunwala‘s Tip No. 8 : Don’t Try To Time The Market:
Rakesh Jhunjhunwala endorses the validity of investment advice that has been propounded time and again by the wizards of investment time and again. Never try to time the market because you can never find the bottom of the market. Instead if you are getting the stock cheap in terms of its intrinsic value and future prospects, buy it.
Here, one cannot resist referring to similar advice that Warren Buffet, the Emperor of Wall Street, gives. Warren Buffet points out that Coca-Cola made an IPO in 1919 when it issued shares at $ 40 each. A year later, the share was quoting at $19. You might think that’s a disaster because the share had lost 50% of its value in just one year. After that there was sugar rationing and the farmers were rebellious. Years later, the Great Depression and World War II happened, there were thermonuclear weapons and what not. He says you could always find a reason on why that was not the right to buy shares of Coca Cola. But if you had gone ahead and bought that one share for $40 and reinvested the dividends, your investment in Coca-Cola would be worth $5 Million today.
Rakesh Jhunjhunwala echoes the words of the Oracle of Omaha when he says that you must get right is the business. If you get that right, everything else falls into place.
Rakesh Jhunjhunwala‘s Tip No. 9 : If it’s cheap, buy it- Don’t pass up something cheap today in the hope that it will get cheaper tomorrow:
Rakesh Jhunjhunwala says: If you see the opportunity today, GRAB IT! Many wonderful opportunities are lost to procrastination and then you rue your missed opportunities. Rakesh Jhunjhunwala says that it is not only important to identify the opportunity but then to be decisive and to act on it. Rakesh Jhunjhunwala cautions against getting stuck in a trap where you are perpetually seeking extra information to validate your idea.
In this, Rakesh Jhunjhunwala echoes the wisdom of Warren Buffet, the Oracle of Obama, who in the depths of the great stock-market depression of 2008 inspired investors by his clarion call "If you wait for robins, summer will be gone".
Rakesh Jhunjhunwala‘s Tip No. 10 : Don’t buy stocks that have a fixed return:
Rakesh Jhunjhunwala‘s next tip seems to be a no-brainer but it is surprising how many investors overlook it. What is the point of buying shares in a company such as an electricity company where the return on investment cannot by law exceed a certain amount, asks Rakesh Jhunjhunwala. But, Rakesh Jhunjhunwala, emphasizes that this logic does not mean that electricity and utility companies should not form part of your portfolio because they offer an excellent defense mechanism to the vagaries of the stock market with the undemanding demand for their product and their predictable cash flows.
Rakesh Jhunjhunwala‘s Tip No. 11: Ride your winners!!
The one question on everybody’s mind is "When do I sell my multibagger?" Rakesh Jhunjhunwala answers with aplomb "Never".
One must be careful to understand what Rakesh Jhunjhunwala is saying here. What the Greatest Investor in India is saying is: "Don’t sell for the sake of selling because you can never say that the 10-bagger today will not become a 20-bagger tomorrow".
But, Rakesh Jhunjhunwala hastens to clarify that this does not mean that one will never sell a multibagger. He gives two situations when even he may sell his beloved multibagger. The first is when he is short of funds and he needs capital to invest in a stock that will give even better returns than what the existing one will give. And second, when the stock market has become so irrational that the perception of earnings and the P/E is unsustainable. Rakesh Jhunjhunwala gives the example of what happend in 2000 when euphoric investors laid bets that Infosys’ earnings would double every year for the next 10 years. Infosys’ P/E at the then current earnings was 100-150 times. So, says Rakesh Jhunjhunwala, when the expectation of earnings peaks and the P/E is unsustainable, that is the time to sell.
Rakesh Jhunjhunwala‘s Tip No. 12: Concentrate, concentrate & concentrate!!
There is a perpetual battle amongst investors on whether a diversified portfolio approach is better or a concentrated portfolio is better. (See Benefits of a concentrated portfolio).
Rakesh Jhunjhunwala is an unabashed proponent of the concentrated portfolio theory. But Rakesh Jhunjhunwala‘s theory must be carefully understood before being implemented in practice as it can otherwise lead to disaster.
Rakesh Jhunjhunwala emphasizes that one must venture into a concentrated portfolio only after one is sure that he has identified a share that will deliver superior returns to all the other chosen shares. The conviction must be extremely strong, says Rakesh Jhunjhunwala.
Rakesh Jhunjhunwala is not one to take risks lightly so must also be wary of the risks of a concentrated portfolio. In the recent past, we have seen so many excellent companies lose large portions of their market cap almost overnight. Some examples can be BP which was touted as the best buy in the oil space but which owing to the oil spill in the Gulf of Mexico is today regarded as a pariah. Other examples are RNRL which not only lost the battle in the Supreme Court with Reliance but then announced a disastrous merger with RPower which short-changes RNRL’s investors. Aban Offshore is another example which lost its’ Oil Rig Aban-Prince in the high seas and saw its market price plummet 25%. Yet another example is that of Satyam whose founder Ramalingam Raju was felicitated as the "Most Promising Businessman" by Earnst & Young. He later confessed that all profits shown in Satyam were bogus and that he and Maytas Infra had played a big fraud on the hapless investors.
So, while there are benefits to a concentrated portfolio, one must not be oblivious to its risks, cautions Rakesh Jhunjhunwala.
DISCLOSURE: This interview is copied from other website for benefit of readers, this will be delted if anyone has any obligations/objections.
http://www.rmdhar.com/
rmdhar.com
make money; not mistakesSearch
HomeArchivesResearch Reportsstock picker
Rakesh Jhunjhunwala’s tips on how to find multibagger stocks
Rakesh Jhunjhunwala is the Mother Theresa of the investment world because not only is this Living Legend eager to share his investment techniques with us, he is also happy to let us in on the most well guarded investment secret on how he made his billions
But, Rakesh Jhunjhunwala, the wise sage that he is, is a man of few words. Rakesh Jhunjhunwala is reticent. When Rakesh Jhunjhunwala speaks, it is because he has something to say and not because he has to say something! So we scoured through hundreds of transcripts to decode Rakesh Jhunjhunwala‘s investment secrets. Now, we are proud to present our own version of Rakesh Jhunjhunwala‘s tips on how to find multibaggers.
Rakesh Jhunjhunwala‘s Tip No. 1: Don’t Look For Multi-baggers
Rakesh Jhunjhunwala‘s first investment mantra on how to find multibaggers is surprisingly different from what you would expect. Rakesh Jhunjhunwala says: "Don’t look for multibaggers. Don’t seek them at all. Let the multibaggers come to you!"
What is Rakesh Jhunjhunwala saying?
What Rakesh Jhunjhunwala is saying is: Don’t go out into the investment world saying "I only want to invest in potential multibaggers". Instead, Rakesh Jhunjhunwala, the Investment Guru, says "Go back to the old-fashioned way of making investments designed by investment maestros Benjamin Graham, Peter Lynch and Warren Buffet". "If your homework is right and you have invested in fundamentally sound companies with good growth prospects, your investments will by themselves become multibaggers with the passage of time".
Sounds simple but Rakesh Jhunjhunwala is not content with giving abstract or theoretical advice because this great investment legend already knows that his disciples are a bunch of doubting Thomas and even his words of undeniable gospel will be met with stoic skepticism.
So, Rakesh Jhunjhunwala gives examples of what he means.
Rakesh Jhunjhunwala gives the example of BEML which several years ago was quoting at a pittance because it was regarded as a slothful government enterprise. No investor in his right mind wanted the shares of BEML at that time. But while other investors saw a sluggish government corporation, Rakesh Jhunjhunwala saw efficient management, a great product line-up and effeicient cash-flows. The result: Rakesh Jhunjhunwala got a bountiful; he got his multibagger
One example is not enough to convince the cynical masses. So, Rakesh Jhunjhunwala gives another example – that of Bharat Electronics – which also was regarded as a Babu-wala company by other investors who couldn’t see what Rakesh Jhunjhunwala‘s discerning eye could. Another humble company turned into a multibagger by sheer passage of time!
Now you are convinced. But Rakesh Jhunjhunwala does not rest. He goes for the jugular. Now, Rakesh Jhunjhunwala gives a counter example.
What would an investor "looking" for a multibagger have bought in the heady days of 2000? The naive investor would have looked around and seen "spectacular" companies like Himachal Futuristic, Global Tele, Pentasoft soaring on the stock exchange, making new highs every day. So, the foolish investor would have tanked up on these shares thinking that these shares were his best bet to net a multi-bagger.
The result: You don’t need the great Rakesh Jhunjhunwala to spell that out for you.
So, now you know why Rakesh Jhunjhunwala says: "Don’t look for multibaggers!"
Yes, the point sinks in and you have understood but then you rub your eyes incredulously and ask "But what do I look for in a share?"
Rakesh Jhunjhunwala is not regarded as the greatest investor in India for nothing. He has a well-considered answer for that as well. And if you think about it, Rakesh Jhunjhuwala’s answer is made up of pure common sense.
Rakesh Jhunjhunwala‘s Tip No. 2: Don’t Look for Profits; Look For Sources Of Profits
Rakesh Jhunjhunwala cautions that most investors obsess about the current sales and profits. They look at each quarter and focus obsessively on short-term profits. "That’s missing the wood for the trees" says Rakesh Jhunjhunwala.
Instead Rakesh Jhunjhunwala says "Look at the sources of Profits. What are the reasons that will give rise to Profits in the medium and long-term term".
Rakesh Jhunjhunwala drives home the point. "Look at the factors and circumstances that will create an opportunity for business in the sector".
Rakesh Jhunjhunwala gives the classic example of Infosys and Wipro. While the average Joe would have sat with his calculator analyzing Infosys’s & Wipro’s PE, ROE and nonsense like that, an astute investor in the 1990s would have realized that an internet revolution was coming in the next couple of years. He would have also realized that the off-shore business segment was booming and he would have tanked up on those shares.
Rakesh Jhunjhunwala gives another spectacular example: That of Praj Industries, a company engaged in manufacture of bio-ethanol fuel. When Praj Industries started out, nobody realized the massive demand that would arise for alternate fuels like ethanol. An investor would could have foreseen that would have had his multibagger.
Rakesh Jhunjhunwala‘s Tip No. 3: Forget ‘Large Cap, Small Cap’ Nonsense – Look For Scalability Of Operations:
Rakesh Jhunjhunwala makes two very important points. First, the investing maestro expresses his contempt for the obsession that many analysts and investors have for the debate on whether large cap, mid cap or small cap stocks are better. "Forget all that and Look for Value" he thunders. "If there is value in Large Cap, buy it. If there is value in Small Cap, buy it. But don’t obsess on irrelevant matters", says Rakesh Jhunjhunwala, the one with infinite wisdom.
But Rakesh Jhunjhunwala makes his preference quite clear. He says that given a choice and all things remaining equal, a mid-cap or a small-cap is a preferred bet because the valuations will be low and they can scale it up quite quickly.
Rakesh Jhunjhunwala‘s Tip No. 4: Give it Time, Be Patient:
Rakesh Jhunjhunwala reiterates what the maha investment gurus like Benjamin Graham and Warren Buffet have been advising over the past several decades. Warren Buffet was plain in his advice "Our favourite holding period is Forever". Rakesh Jhunjhunwala gives the same advice: "Give your investments time to mature. Be Patient for the World to discover your gems". Rakesh Jhunjhunwala cites the examples of Crisil, Titan and Pantaloon Retail which he has held on for several years now and has absolutely no intention of divesting them any time soon.
When Rakesh Jhunjhunwala bought Lupin it was just another mid-cap pharma company starting out into the world of generic drugs. What Rakesh Jhunjhunwala saw was a good efficient management which knew its job, a debt-free status, a good product line up and a growing market. That’s all. Rakesh Jhunjhunwala bought and played the waiting game. When the market matured, Rakesh Jhunjhunwala raked in his billions.
Rakesh Jhunjhunwala also fondly talks about his investment in Karur Vysya Bank which he has held onto even after about 20 years since he bought them. He says that his paltry investment of Rs 2,000 is worth several crores today thanks to the patience and conviction that he showed.
Rakesh Jhunjhunwala is never tired of emphasizing that first you must always remember that you are buying a business and not just a little thing that bounces 2% around every now and then. When you buy that business, it must be of a very high quality, one that is capable of growing over time. Having done your hard work, you must wait for the market to do its work and reward you, says Rakesh Jhunjhunwala.
Rakesh Jhunjhunwala‘s Tip No. 5: Don’t get carried away by short-term aberrations:
Rakesh Jhunjhunwala cannot stop criticizing investors who are obsessed with short-term trends. Rakesh Jhunjhunwala emphasizes that he does not worry about quarterly results. If the results are bad in one quarter, he does not get perturbed. What Rakesh Jhunjhunwala is looking for is: Is there a trend? Are the quarterly results showing a trend and suggesting something or are they a mere aberration?
Rakesh Jhunjhunwala also cautions that one should not get carried away by short-term trends. He cites the oft-repeated example of 1999 when investors bought truck loads of Himachal Futuristic, Global Tele, Pentasoft while he used to buy Shipping Corporation and Bharat Electronics because he saw long-term value in them. The Oracle of Mumbai says “Never get carried away by aberrations, recognize and respect them but do remember that the market corrects its aberration though it takes time.”
Rakesh Jhunjhunwala then adds that if the market behaves irrational and punishes a stock for short-term aberration, that’s the time for you to jump in. Rakesh Jhunjhunwala cites the classic example of Titan Watches to buttress his theory. Rakesh Jhunjhunwala says that Titan suffered in a moment of crisis when it went into Europe and lost a lot of money. Rakesh Jhunjhunwala says he wasn’t perturbed because he knew that what is most important for Titan is India’s prosperity. Rakesh Jhunjhunwala envisaged the future and knew sub-consciously that Indians were going to buy far many watches and that the underlying business should be great. So, says Rakesh Jhunjhunwala, in a moment of crisis you can get great valuations and if you can envisage the future where the product could have great demand and great growth, you should use the opportunity to buy.
Rakesh Jhunjhunwala‘s Tip No. 6: Invest in a business that you can understand:
If you look at it hard enough, you will realize that Rakesh Jhunjhunwala‘s reluctance to buy Himachal Futuristic, Global Tele and Pentasoft even in their heydays and his preference to stick to Shipping Corporation, Bharat Electronics and the other tried and tested names reveals another great investment tip from the Prince of Dalal Street: Buy what you know. Do you understand the business enough to be able to know what will happen 10 or 20 years from today. With Shipping Corporation, you can because shipping of goods will continue to happen for our foreseeable future. But you can’t tell that with technology companies which may have a great product today but which may become obsolete in 5 years.
Rakesh Jhunjhunwala‘s Tip No. 7: Don’t worry about the macro stuff like fiscal deficit, inflation etc which are unknowable. Focus on what is knowable:
Another immensely practical tip from Rakesh Jhunjhunwala, India’s greatest investor, for us folk who keep obsessing about currency fluctuation rates, inflation, fiscal deficit, political turmoil is: “Don’t worry about things that you neither know about nor can do anything about. It’s not important. Instead focus your energies on what you can and should know well enough – the business of the company you are investing in“.
Rakesh Jhunjhunwala‘s Tip No. 8 : Don’t Try To Time The Market:
Rakesh Jhunjhunwala endorses the validity of investment advice that has been propounded time and again by the wizards of investment time and again. Never try to time the market because you can never find the bottom of the market. Instead if you are getting the stock cheap in terms of its intrinsic value and future prospects, buy it.
Here, one cannot resist referring to similar advice that Warren Buffet, the Emperor of Wall Street, gives. Warren Buffet points out that Coca-Cola made an IPO in 1919 when it issued shares at $ 40 each. A year later, the share was quoting at $19. You might think that’s a disaster because the share had lost 50% of its value in just one year. After that there was sugar rationing and the farmers were rebellious. Years later, the Great Depression and World War II happened, there were thermonuclear weapons and what not. He says you could always find a reason on why that was not the right to buy shares of Coca Cola. But if you had gone ahead and bought that one share for $40 and reinvested the dividends, your investment in Coca-Cola would be worth $5 Million today.
Rakesh Jhunjhunwala echoes the words of the Oracle of Omaha when he says that you must get right is the business. If you get that right, everything else falls into place.
Rakesh Jhunjhunwala‘s Tip No. 9 : If it’s cheap, buy it- Don’t pass up something cheap today in the hope that it will get cheaper tomorrow:
Rakesh Jhunjhunwala says: If you see the opportunity today, GRAB IT! Many wonderful opportunities are lost to procrastination and then you rue your missed opportunities. Rakesh Jhunjhunwala says that it is not only important to identify the opportunity but then to be decisive and to act on it. Rakesh Jhunjhunwala cautions against getting stuck in a trap where you are perpetually seeking extra information to validate your idea.
In this, Rakesh Jhunjhunwala echoes the wisdom of Warren Buffet, the Oracle of Obama, who in the depths of the great stock-market depression of 2008 inspired investors by his clarion call "If you wait for robins, summer will be gone".
Rakesh Jhunjhunwala‘s Tip No. 10 : Don’t buy stocks that have a fixed return:
Rakesh Jhunjhunwala‘s next tip seems to be a no-brainer but it is surprising how many investors overlook it. What is the point of buying shares in a company such as an electricity company where the return on investment cannot by law exceed a certain amount, asks Rakesh Jhunjhunwala. But, Rakesh Jhunjhunwala, emphasizes that this logic does not mean that electricity and utility companies should not form part of your portfolio because they offer an excellent defense mechanism to the vagaries of the stock market with the undemanding demand for their product and their predictable cash flows.
Rakesh Jhunjhunwala‘s Tip No. 11: Ride your winners!!
The one question on everybody’s mind is "When do I sell my multibagger?" Rakesh Jhunjhunwala answers with aplomb "Never".
One must be careful to understand what Rakesh Jhunjhunwala is saying here. What the Greatest Investor in India is saying is: "Don’t sell for the sake of selling because you can never say that the 10-bagger today will not become a 20-bagger tomorrow".
But, Rakesh Jhunjhunwala hastens to clarify that this does not mean that one will never sell a multibagger. He gives two situations when even he may sell his beloved multibagger. The first is when he is short of funds and he needs capital to invest in a stock that will give even better returns than what the existing one will give. And second, when the stock market has become so irrational that the perception of earnings and the P/E is unsustainable. Rakesh Jhunjhunwala gives the example of what happend in 2000 when euphoric investors laid bets that Infosys’ earnings would double every year for the next 10 years. Infosys’ P/E at the then current earnings was 100-150 times. So, says Rakesh Jhunjhunwala, when the expectation of earnings peaks and the P/E is unsustainable, that is the time to sell.
Rakesh Jhunjhunwala‘s Tip No. 12: Concentrate, concentrate & concentrate!!
There is a perpetual battle amongst investors on whether a diversified portfolio approach is better or a concentrated portfolio is better. (See Benefits of a concentrated portfolio).
Rakesh Jhunjhunwala is an unabashed proponent of the concentrated portfolio theory. But Rakesh Jhunjhunwala‘s theory must be carefully understood before being implemented in practice as it can otherwise lead to disaster.
Rakesh Jhunjhunwala emphasizes that one must venture into a concentrated portfolio only after one is sure that he has identified a share that will deliver superior returns to all the other chosen shares. The conviction must be extremely strong, says Rakesh Jhunjhunwala.
Rakesh Jhunjhunwala is not one to take risks lightly so must also be wary of the risks of a concentrated portfolio. In the recent past, we have seen so many excellent companies lose large portions of their market cap almost overnight. Some examples can be BP which was touted as the best buy in the oil space but which owing to the oil spill in the Gulf of Mexico is today regarded as a pariah. Other examples are RNRL which not only lost the battle in the Supreme Court with Reliance but then announced a disastrous merger with RPower which short-changes RNRL’s investors. Aban Offshore is another example which lost its’ Oil Rig Aban-Prince in the high seas and saw its market price plummet 25%. Yet another example is that of Satyam whose founder Ramalingam Raju was felicitated as the "Most Promising Businessman" by Earnst & Young. He later confessed that all profits shown in Satyam were bogus and that he and Maytas Infra had played a big fraud on the hapless investors.
So, while there are benefits to a concentrated portfolio, one must not be oblivious to its risks, cautions Rakesh Jhunjhunwala.
DISCLOSURE: This interview is copied from other website for benefit of readers, this will be delted if anyone has any obligations/objections.
MULTIBAGGERS- THE ART OF PICKING RIGHT STOCKS-COMPANIES
MULTIBAGGERS
In the stock market we often hear this word. The simple description is any investment amount is called a “bag” so any investment appreciated by 100% becomes two-bagger (initial investment = 1 bag + appreciation of 1 bag). So any company to become a multibagger needs to appreciate atleast by 100%. We are often mislead by many brokers stating a stock which runs from 40 to 60 as multibagger, which isn’t true. It’s mostly used for shares which you expect to give multifold (multibagger) returns in future.
The main thing with stocks is if you keep on timing the market chances are that you lose most of the times than win, whereas, it is always safer for a retail investor with patience to invest in such companies which currently are available at low valuations and in the due process over a span of a year or three years would expand/increase profits and thereby demand a re-rating and high valuations. The best way to accumulate such stocks is via SIP ways. Wherein a small amount is invested every month in a particular stock for some duration and let the investment grow for a year or two and then reap all the benefits.
Before anyone asks any further questions, I would like you guys to read the following interview by RAKESH JHUNJUNWALA and try and understand the mentality of his stock-picking art.
The following link will take you to the above mentioned INTERVIEW
http://www.rmdhar.com/index.php/2010/07/05/rakesh-jhunjhunwalas-tips-on-how-to-find-multibagger-stocks/
Disclaimer: Investment in equity shares has its own risks. Sincere efforts have been made to present the right
investment perspective. Do your own research before you invest, not after investing. I can only guide/share but cannot guarantee 100% targets.
In the stock market we often hear this word. The simple description is any investment amount is called a “bag” so any investment appreciated by 100% becomes two-bagger (initial investment = 1 bag + appreciation of 1 bag). So any company to become a multibagger needs to appreciate atleast by 100%. We are often mislead by many brokers stating a stock which runs from 40 to 60 as multibagger, which isn’t true. It’s mostly used for shares which you expect to give multifold (multibagger) returns in future.
The main thing with stocks is if you keep on timing the market chances are that you lose most of the times than win, whereas, it is always safer for a retail investor with patience to invest in such companies which currently are available at low valuations and in the due process over a span of a year or three years would expand/increase profits and thereby demand a re-rating and high valuations. The best way to accumulate such stocks is via SIP ways. Wherein a small amount is invested every month in a particular stock for some duration and let the investment grow for a year or two and then reap all the benefits.
Before anyone asks any further questions, I would like you guys to read the following interview by RAKESH JHUNJUNWALA and try and understand the mentality of his stock-picking art.
The following link will take you to the above mentioned INTERVIEW
http://www.rmdhar.com/index.php/2010/07/05/rakesh-jhunjhunwalas-tips-on-how-to-find-multibagger-stocks/
Disclaimer: Investment in equity shares has its own risks. Sincere efforts have been made to present the right
investment perspective. Do your own research before you invest, not after investing. I can only guide/share but cannot guarantee 100% targets.
STOCK MARKET – MY JOURNEY SO FAR
STOCK MARKET – MY JOURNEY SO FAR
As many others, I never knew what Stock Market was until very lately as late as 2008. I was fascinated by people forgetting everything and just switching on television sets and watching CNBC for hours. It took me five years (2004-2008) to understand market indirectly (via mutual fund route) and among these only from 2007 all of a sudden there was this curiousness developing as to how, why, what makes a market run. What is it all about? However, like many I too entered this world of numbers, facts, figures, results, bonus, dividends, stock-splits etc. with only one intention “Make Quick Money.”
To my bad luck or timing, I began following what CNBC, NDTV PROFIT, and all experts and started day-trading. Little did I realize that a Rs 200 gained on a day would easily make me loose 2000 also within a flash. My worst experience doing trading was when I was made aware of the fact what Short-Selling is…..This, combined with some other elements chopped my portfolio of Rs. 45,000.00 to Rs. 21,268.00 within just a week.
That huge loss (as my monthly income was around 18K) of 24k made me worried, scared and spend sleepless nights. I almost said quits just before I happened to visit a blog called “HBJCAPITAL” and chanced upon two stocks – SUMEET INDUSTRIES and CONFIDENCE PETROLEUM.
Since, there was nothing to lose, I invested into both of these which was given free by them.
As luck would have it, a year later I not only recovered the loss to great extent but also came across many stock related articles, many interviews of Warren Buffet, Rakesh Jhunjhunwala, DD Sharma, and Rajesh Tambe. The way these guys search for that value picks amazed me. This inculcated a habit of not going for instant gains but to stay invested in a stock for long time. My experience with Sumeet Industries and Confidence Petroleum only made that view stronger.
This also made be look for such companies which might never give good returns in 2-3 days, but will surely give great returns over a period of 2 years. I started to track such companies and also subscribed to HBJ Penny Stock Package. I happened to be influenced by the CEO Ekansh Mittal, whom am highly indebted for all the guidance and advice. It was his calm nature and in-depth analysis of any company which made me look out for more such stocks.
Now, I decided to start researching from my side too. So, in this blog I will be sharing whatever I chance upon during my research.
IMPORTANT NOTE: Please do not expect me to reveal any of their (HBJ) stocks as they are highly qualified people whose hard work should be commended and it is only fair that their work should be paid and not be sought free. I won’t be entertaining any such requests in the first place. Any stock I discuss over here in this blog will be purely personal and won’t be copied from HBJ or any such paid service sites. I always respect hard work and expect every visitor to do the same as well.
Disclaimer: Investment in equity shares has its own risks. Sincere efforts have been made to present the right
investment perspective. Do your own research before you invest, not after investing. I can only guide/share but cannot guarantee 100% targets.
As many others, I never knew what Stock Market was until very lately as late as 2008. I was fascinated by people forgetting everything and just switching on television sets and watching CNBC for hours. It took me five years (2004-2008) to understand market indirectly (via mutual fund route) and among these only from 2007 all of a sudden there was this curiousness developing as to how, why, what makes a market run. What is it all about? However, like many I too entered this world of numbers, facts, figures, results, bonus, dividends, stock-splits etc. with only one intention “Make Quick Money.”
To my bad luck or timing, I began following what CNBC, NDTV PROFIT, and all experts and started day-trading. Little did I realize that a Rs 200 gained on a day would easily make me loose 2000 also within a flash. My worst experience doing trading was when I was made aware of the fact what Short-Selling is…..This, combined with some other elements chopped my portfolio of Rs. 45,000.00 to Rs. 21,268.00 within just a week.
That huge loss (as my monthly income was around 18K) of 24k made me worried, scared and spend sleepless nights. I almost said quits just before I happened to visit a blog called “HBJCAPITAL” and chanced upon two stocks – SUMEET INDUSTRIES and CONFIDENCE PETROLEUM.
Since, there was nothing to lose, I invested into both of these which was given free by them.
As luck would have it, a year later I not only recovered the loss to great extent but also came across many stock related articles, many interviews of Warren Buffet, Rakesh Jhunjhunwala, DD Sharma, and Rajesh Tambe. The way these guys search for that value picks amazed me. This inculcated a habit of not going for instant gains but to stay invested in a stock for long time. My experience with Sumeet Industries and Confidence Petroleum only made that view stronger.
This also made be look for such companies which might never give good returns in 2-3 days, but will surely give great returns over a period of 2 years. I started to track such companies and also subscribed to HBJ Penny Stock Package. I happened to be influenced by the CEO Ekansh Mittal, whom am highly indebted for all the guidance and advice. It was his calm nature and in-depth analysis of any company which made me look out for more such stocks.
Now, I decided to start researching from my side too. So, in this blog I will be sharing whatever I chance upon during my research.
IMPORTANT NOTE: Please do not expect me to reveal any of their (HBJ) stocks as they are highly qualified people whose hard work should be commended and it is only fair that their work should be paid and not be sought free. I won’t be entertaining any such requests in the first place. Any stock I discuss over here in this blog will be purely personal and won’t be copied from HBJ or any such paid service sites. I always respect hard work and expect every visitor to do the same as well.
Disclaimer: Investment in equity shares has its own risks. Sincere efforts have been made to present the right
investment perspective. Do your own research before you invest, not after investing. I can only guide/share but cannot guarantee 100% targets.
Monday, November 15, 2010
MY FIRST MULTIBAGGER
THE FIRST MULTIBAGGER (multiple fold returns from current market price) will be published tomorrow as I have finally found one such scrip. This seems to be a very promising bet and the name will be disclosed tomorrow.
Hope anyone buying this will thank me for my recommendation later.
Hope anyone buying this will thank me for my recommendation later.
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