jitendra mehta

Survived FY26! Paid a fair bit in taxes this year, as I booked profits across several names accumulated in the previous FY. Overall returns, though, were modest, barely in the lower double digits. Given the market conditions, no real complaints. What worked well 1. Met some amazing people and built friendships with folks far smarter than me 2. Listened to the market ~90% of the time 3. Churned the portfolio to stay aligned with stronger names 4. Ensured no losing position eroded more than 5% of invested capital 5. Kept value plays capped at ~10% of the overall portfolio 6. Last but not least, played a small role in growing the Hyderabad Investing Enthusiasts community What could have been better 1. A mix of greed and overconfidence in FY27 earnings led to delayed profit booking in HBL and Manorama Industries, two of my largest positions during the year. The discipline I followed in Neuland wasn’t consistently applied here and in a few other names and thus gave back profits. 2. Excessive churn at times, could have reduced this and saved on costs 3. Some lapses in decision-making; position sizing could have been better in Sansera, MTAR, Acutaas, and MCX What to adjust in FY27 1. Stick to the process, no deviations 2. Optimize churn 3. Don’t be greedy; get comfortable leaving some money on the table 4. Write more (note-taking has slipped over the past 6–8 months) 5. Take meaningful positions at one go instead of excessive staggered buying (since stop-loss discipline anyway is working) 6. Most importantly, continue learning from friends Best wishes to all of us, here’s hoping FY27 treats us better than FY26!

Cash is a position, not a comoddity In everyone's portfolio, invariably, we will end up with 2-3 names that we think we would sell if and when they rise a little bit...but then, when they actually rise, we wouldn't do that because we would then think, the reversal has started. Truth is, current market isn't such kind. It is not going to run away. So, use these green days, to clean up the PF from unwanted names and stick to the names where you have absolute confidence and conviction and keep cash. In a bull market, you can have any number of stocks (not 100s of course) and you may still do well but in a bear market, one should have fewer stock with absolute conviction. One don't need to be 100% invested. Cash is a position.

Our onboarding and induction event for Abaan India sales team for 2 days .Watch out in Modern Trade and A class outlets in 5 cities for now -Mumbai ,Delhi ,NCR ,Pune and Kolkata .Please do give feedback on availability ,visibility and offcourse the “taste” of our brand /offerings