Marcels acknowledged that the Portfolio Performance (Pre-Feez) should exceed the EPS CAGR from a reasonable margin and they have fallen short in this regard.
Looking at his past examples, where Mukherjia admitted that it failed several times in different aspects of his life, and that education has just been kept in good condition.
“My first failure that I can remember was failing in Class 3 at St. Columba’s school in New Delhi. Then, my life was full of failures e.g. failed to make it in the school cricket team, failing to get the jobs I wanted to study, my failure, as I wanted to find out.”
Mukherjia said that her resolve was strengthened 15 years ago when she read that Danny Kahneman once read the comment made by journalist Jason Zweig, “Do you realize that you can tell thousands of people that you are wrong?”
He said, “Please continue this criticism. My colleagues on Marcelus Investment Managers and I will be wise to him.”
In the Marcelus Investment, its PMS AUM 2022 saw a decline of Rs 12,704 crore from Rs 12,704 crore in October, which is currently Rs 4,734 crore.
The fund’s marquee compatible compounders portfolio has delivered a return CAGR of 17.4% over the financial year 19-24, which is widely in-line with EPS CAGR of 17.8% in the same period.
The fund manager said, “There are some education around the valuation changes that we could have incorporated sooner than the de-rating of the quality lenders in the last year, as their ROE is a mediator among the regulatory environment and generally the risk of quality from 2021.”
While Portfolio Performance was looking for this earnings growth until September 2024, it is expected that the last three months of drawdown will be temporary in nature with the possibility of reversal in the future.
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
(Now you can subscribe to our Etmarkets WhatsApp channel)
