Rajesh Pherwani

Budget Feb 2025 – a short update

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The budget has set a new normal and the market did not expect it. It was like the Schrodinger’s cat experiment. Wedidn’t know if the cat was alive or dead until the box was opened. But at the same time, if one had followed theannouncements made during the last year or so, one may have … Read more

FY22 Union Budget Review

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Dear all, Would like to share with you our short opinion on the Budget by Rajesh Pherwani – In my investment career spanning more than 2 decades, I have witnessed every Budget’s obsession with fiscal deficit and subsidies. However, the tide has turned over the last few years. The fact that this budget is focused … Read more

Great Budget during difficult times – Quick view

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The Budget has been full of green ticks for us as investors. We are clearly getting what we wanted Productive expenditure by the Government and a lesser burden on the common man to raise revenues. For many years in the history of my investment career (24 years and counting), I heard economists and the investing … Read more

Valcreate Philosophy and Performance

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Stock picking backed by strong in-house GRO process Valcreate follows the in-house GRO process with a focus on 4 pillars of investing- Growth, Return on Investment, and Ownership in the context of Valuations. This has been the hallmark of investing and helps identify companies with earnings trails as well as high-quality business at acceptable valuations. … Read more

The great undoing – did we predict it?

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As I have been restricted to the confines of my home due to COVID-19 restrictions, I got some time to revisit some of the statements I made in the previous 2 newsletters. Two statements clearly stood out from my Jan 2020 newsletter titled “Liquidity bubble and pockets of value” “Welcome to the new year. 2019 … Read more