Ramesh Damani has decades of experience behind him to emerge as a legend in the Indian equity market. He debuted on the stock market in 1989 when the Sensex was at a mere 800 points.
Being a contrarian, he bought Sundaram Finance out of the proceeds of his Infosys sale, and has held on to it even when the stock fell 60% from the top. But he has also confessed to missing HDFC Bank.
Damani has lived through a high-inflation and high-interest rate environment. He has survived and thrived through bear and bull markets.
He shall be presenting at the Morningstar Investment Conference on his learnings from his eventful journey, how he avoids value traps, and what gives him conviction as a contrarian.
In an interaction with CNBC TV18, on Teachers' Day, he states the lessons the market taught him.
- The importance of compounding in a young investor’s portfolio. Start early. Invest wisely.
- It is crucial to find great businesses and stick with them for a long period of time.
- Someone is sitting in the shade today because another planted a tree many years back. The moral of this lesson is that if you invest wisely in a bear market, you can reap the harvest in a bull market.
- In a bear market, it is good to remember the words of wisdom: This too shall pass.
- It is good for young investors to have mentors or guides.
- To be a great investor, you probably need to read 6-8 hours a day.
At the Morningstar Investment Conference, Ramesh Damani shall be presenting on The Art of Betting Against The Tide.
You can see the agenda of the conference here.
