Yes, Saurabh Mukherjee is a fantastic storyteller and there is indeed lor to learn from his perspective.. and yes he is a great salesman 😉 While I like most of your content for their richness and presentation, this was one of the better ones. Decoding a celebrity PMS like Marcellus that too in such crisp and balanced manner, kudos to you and your team 👏👏👏
My family is invested with Marcellus , and since they are so transparent , we almost copy paste their portfolios and mix and match their various portfolios. So far it's been great, doesn't confuse retail investors like most finfluencers who just make content for the sake of it. While Marcellus is saying pretty much the same thing over and over may be boring to keep hearing but it absolutely works
Glad to hear that, Klinton. I liked the copy-paste point .. as more people copy-paste Marcellus' portfolio, it helps Marcellus immensely as it ups the value of shares even more
I am proudly replicating Marcellus portfolio, to make "50 lakh", then I would outsource my 50 lakhs to Marcellus to invest. Thanks for sharing your insights.
You are the most thorough, sharp and unbiased presenter for very small but educated investors like me My regards to your efforts You are my guide, philosopher
I have attended saurabh mukherjea's session and he is indeed a very captivating speaker. It was right after the vent that he quite ambit capital and launched Marcellus capitals. I remember him speaking about big currency notes getting pulled out of the economy soon( had'nt happend by then) so he does have ears in the right places. thank you for the video- very insightful.
Most welcome, glad you found it informative. I'm planning a sit-down with the Marcellus team sometime next quarter (maybe with Saurabh himself), if you have some penetrative questions you'd like me to explore, then please do let me know. Thanks!
I generally agree Sourabh ideology, to have neat and clean company, ROCE and revenue growth of 10% seems fair for 10 years horizon , except the valuation perspective which fairly important. Rather I would look for Fairly valued than looking for cheaper and expensive valuation, like buffet bought Coca Cola in 1989 , bought great company at Fair valuation than looking for fair company at cheaper valuation….
I read his book recently.. But I don't believe buying a stock at any price Previously I had read parag parikh Who buying a company with a triple digit is investing on future cashflow Or future valuation in the present time Which is dangerous A growth of a company can be capped at certain unlike that of colgate, my saying buying a company cheap valuation makes u alot of money But I read his diamond in the dust And few good take on it too
Thanks for making video. have invested in their CCP strategy since Oct 2021. I like their research and transparency very much. I like their every thesis despite BAAP.
You are correct Sourav is a great storyteller. I listened to him very carefully and created a portfolio of my own of 19 stocks after my analysis. I believed in each of his word except valuation . Slowly I build my position in those companies and recently when they fell by big margin I invested a lot on to those . Now I have started seeing a good return and hopefully in future I will compound in great manner .
Sir ... big thanks for making this video. Just as a topic for research or next video - how about which strategy is better , individual stock picking vs mutual fund vs Index investing. I know it is not that direct but given your style of breaking question components into parameters, historical data, references to big guys and decision making objectivity, you can come up with yet another great finfluencing video.
Like your ending, "Suno sab ki, par karo man ki". Following Marcellus methodology is easier said than done, need the 50 LAKHS & not everyone can copy it. They will also defnitely buy stocks based on their clients total investment amount & investment horizon. I have only one of their reccommended stock GMM Faudler which actually goes inversely vs NIFTY. When the daily P&L for GMM is green, my other stocks & MFs are in red :)
I have been watching your videos for a long time to get unbiased and data-rich presentations. After that, you started your own channel, and as soon as I saw it, I subscribed and turned on notifications. You present any topic so impressively that it deserves a lot of praise. For someone like me, who is a noob, has limited time and capital, your every video is highly educational. If you could provide support on smallcases or portfolio management for general low-capital investors like us, it would be very helpful.
Thank you Rajesh ji for your continued patronage and for your kind appreciation & encouragement. I am glad you are finding my videos useful and improving your investing skills
Hi Shankar, I found your video to be very professional and the choice of words used to explain difficult concepts were spot on. You have given an unbiased review on Marcellus based on facts and keeping the popular opinion away without sounding judgmental. Keep up the great work. You have earned a subscriber.
Thank you very much for your kind appreciation, Ram Prabhu. Do watch other videos on my channel .. some of them are really informative and in the course of researching, I was able to adapt many of these to improve my own investing practices.
Hi Shankar, Many Congratulations! I found your presentation very meaningful, to the point and succinct. Have already liked and subscribed to it and am now looking forward to following you to learn more about the subject! God Bless YOU!😊
One more great session from you Shankar. Really impressed with your data points and also wonder how you pick the right topics which suits for everyone. A big salute to your hard work.
Thank you so much, Gopi for your kind appreciation and encouragement. I try to think like a beginner-plus user and ask myself the question - "What would I like to know more about?". That way even when I pick a simpler topic like say Gold or PPF, I still learn 4 to 5 things which I didn't know about before I started research.
Superb, great insight on something i was trying to understand over last 3-4 years. While from outside it seemigly look an investment with higher ROI, in reality it may not be, at least no just yet. But their approach, values/principles are top notch. Big fan of both you and Saurabh Mulherjea. Very enlightening ! Thank you 🙂🙏
I requested for a video about PMS' like Marcellus and sage one when you were making videos for ETmoney channel 🙌 Even if Marcellus may not be perfect I like them for letting me know importance of financial statements of a company
My take is (1) well known stocks with high liquidity go up in share price since mutual funds keep on pouring retail money every month, (2) not so well known (mostly small and microcap) stocks with less liquidity are chased by some PMS and smart buyers and the share price move up astronomically due to this illiquidity. Hence, if you are doing some sort of swing trading for yearly 15-20 percent in category 1 stocks, you will be having good sleep at night. But if you want to make quick money, then category 2 type stocks are for you, only thing is you have to be on your toes with company updates, insider news (which is next to impossible for a retail) etc. Hence, my strategy is buy category 1 when they are near 200 DMA and sell at booking 15-20 % gains. Buy category 2 in upward trend only. Don't average down, rather average up. Buy high, sell higher. That's it. For compounding, stick to good mutual funds. Book profits from direct stocks and put in that money in your mutual funds along with regular SIPs.
Marcellus is very helpful to choose stocks for retail investors. I have many of its stocks but I buy when they get corrected. Like divis alkyl, tarson hdfc etc. Though I bought lal path in higher valuation and now its in loss
I did the same. I bought divis and lal path labs. But with small positions. small positions helped me in lower the avg value and now those two stocks are green for me.
I have read nearly all the books of Saurabh but I find a lot of hot air in it. The books seem to have been written as a part of the marketing campaign for Marcellus. He has himself sold some companies after singing paeans of glory about them. I am averse to using strong words so I would say he perpetuates a disingenuous air.
People have made hot air of it. But if you ask me, the thinking of marcellus is pretty straight forward and easy. And hence because of which many people think it won't work. Because people love to see complicated things compared to simpler things. There is no point comparing their portfolio with nifty because none of them have gone anywhere. But if you compare the fundamentals of marcellus as compared to nifty those are pretty strong and moated. But again the cost here is the volatility because it's 15 vs 50.
Could u make a video about true beacon founded by the Kamath brothers. Is it wise to invest in true beacon. They advertise themselves as a hedge fund. I need ur insight on this.
Another great video and totally worth the time and wait. This is the first time I have seen someone taking a neutral (and a slightly critical) stance on Marcellus 😀 It would be great to have an interview with the man himself - Saurabh Mukherjea - on this channel. And it would be interesting to see how handles questions around FCF, buying at high PE, valuations etc. My own experience with Marcellus : I have had couple of calls with their sales team, but what the dampener was in the last five years,as you rightly pointed out their CCP's CAGR is not as impressive as it is marketed (plus they take their own cut which further eats up the returns). However, I am still deliberating (as I am onboard with their philosophy) and videos like this will help fence-sitters one way or the other.
The Marcellus team did connect with me after watching the video & also liked it. They've invited me for a sit-down when I am next in Mumbai. Will surely want to interview Mr. Mukherjea and ask some pressing questions. I'll ofcourse source it collectively and would want all viewers of my channel to send their questions aswell
Thank you for the insight into Marcellus Portfolio performance Shankar. Saurabh is one of the guys I follow closely and his growth story always scares me. The rich getting richer and eating up the rest others' share in the process..
While a lot has been said about saurabh mukerjea and air blown by him, he should be given adequate credit for the good calls also. I came to know about trent from him and what a return it has given
Is it not better to get into a well managed 2-3 funds instead of PMS, even if 1-2% lower return also; It gives flexibility, simplicity, tax advantage, governance, less dependence of single person and their boutique ways , clearly the upside potential vs a good fund is limited (max 2%) for which you get many benefits, after seeing more inclined to 5 good funds of 10lacs (vs 1 *50lacs)
Hi - every product has its pros and cons .. and every individual has their own view of looking at it. For instance - I know someone (a relative actually) who looks at financial products in terms of "incentives" i.e. are the goals of the product manager aligned with mine. Now in case of MF, the fund will take its 1% irrespective of the outcome. So your fund has reduced your corpus from 50 lakhs to 40 lakhs .. well no problem for the AMC, it will still take 1% of 40 lakhs i.e. 40,000 rupees as fees. But many PMS offer a variable setup i.e. if they don't earn atleast 6% on your capital i.e. +3 lakhs, they won't take any fees. So for my relative, this is a more comfortable model which is why she has put in almost 40% of her corpus in a couple of PMS funds. So different strokes for different folks.
Really appreciate this video! I learnt a lot from Marcellus webinars but i do agree there are questions on their approach and around valuations. Recently i've also become more interested in quant based approaches (First Global PMS which has been a top performing PMS on risk adjusted basis and Quant Mutual fund which has also been performing well in the last few years). Do consider making a video on that :)
Since they have offloaded ITC company has given 2.5x returns.. whatever they say they must be repenting.. if in portfolio it would have given amp up to returns by atleast 1 to 2%
Thanks Shankar for this video. As a natural progression, can u pl make another video on the possible fund allocation % for Marcellus's portfolios explaining how to go about doing it?
A fundamentally strong stock with 15-20% growth expectation over next 5-10 years with reasonable valuation. But the problem is it has less than 5% holding of public. Rest 95% is with FII, DII, and Promoter. And most importantly, FII and DII holding is increasing QoQ. Should I invest? I'm talking about defence stocks like HAL,BEL.
SM created the framework at Ambit capital.. and he would have taken it to the next level in his fund but the fundamentals remain the same. It would also be nice to learn what ambit has in its emerging portfolio. You had covered the 10 bagger portfolio. Thanks so much.
Hi Shankar, your videos are very insightful and data driven. Thank you for the same. Is it possible to do a video on top Portfolio management services with a comparitive analysis, will be very helpful.
Thank you for your valuable information 🙏 Please do video on IT stocks for long term and do add some information on FSL amd Birla soft stocks holding for long term. Thank you
Most welcome. I have done a sector analysis on the IT Services industry; I'm certain you'll find it useful in evaluating IT-BPM stocks. Link: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-YaHdk3z_znM.html
Hello Shankar, I'm your junior (2016/18) batch from MDI 😊 I've also been studying Marcellus since 2019. I love your content, can you do a video on start ups which have IPO'ed recently like Zomato, Paytm and others which are also planning for the same? Funds like Marcellus wouldn't touch them with a 10 foot pole, so should the retail investor stay away? Your thoughts abouts investing in IPOs in general?
Hello Adwait ji. I don't invest in IPOs either. The capital raise is generally when retail investors like myself have the least information while the offloading promoter has tweaked the metrics to suit the sale.
Can you make video on stock specific contradictions in marcellus portfolio , they go against their own principles which makes copying portfolio risky Like GM faulder innlittle champ has history insider trading which saurabh mukherjee never tells
Very informative and structured video..thanks Shankar. am not convinced with free cash flow focus. Many cases it shows company doesn't have further growth possibility. Its lots of cash in their hand, cash is trash.. what a business will do with extra money? Pay dividends, buy back stock or invest elsewhere..all are not the real purpose for you to invest in a stock..
One Q How’s that while Marcellus is transparent about Stocks - tells the world 🌎 which portfolio has which Co s? While other PMS closely guard their portfolio. How?
There is a theory around this. Let's say you (the fund manager) have bought a million shares in a stock at say, 100 rupees. Now, its in your interest to say goody-goody things about that stock in the hope that another 3 or 4 million shares get bought by others (who may not be your clients but are influenced by you). As a result, the value of your purchase (100 rupees) goes up to say, 120 rupees. In essence, your "transparency" is to your advantage.
@@shankarnath I do have similar thoughts. Recall the initial years of Microsoft, and Windows. Most opted for pirated versions of OS. Any up dating revealed it’s pirated. MS knew but as most became used to Windows and Office, most other bought them.
Excellent video once again. Huge thanks. For your next video please consider covering that for a retail investor is it better to go the MF / advisor route or personally pick stocks and buy/sell them for the long term. And how can a investor beat the market by investing for the long term. Thanks so much.
Pls do a video on PMS vs Index funds vs MF with good rating and returns. Do calculate the administrative fee plus margins that the PMS firm charges for performance. Not to forget the LTCG and STCG that the investor has to pay every time the fund manager churns the portfolio. Lets arrive at, how much does PMS returns need to be, to beat Index MF and High performing MFs after deducting the above costs
Saurabh Mukherjee talk well. However none of their funds are matching market returns. I am member of one such little champ portfolio for 3 years. While the bench mark has compounded at 40% and the PMS at 20%. The pms charging 20% performance fee above 10%. Hence huge underperformance is qualifying for performance fee. Of course as per contract
Loved watching your videos as always it is deep analysis with professional presentation. It would be great if you can do similar analysis of few promising companies.
Hi Shankar, If I have to invest in Marcellus they have many such funds which one to choose for creating long term wealth and through which platform we should invest
Hello Gourav - this can be best answered by the Marcellus team itself. I think they do a risk profiler with all their clients and depending on that plus your goals, outlook etc., they'll suggest you the ideal fund. They have just 6 funds and each of them seem quite distinct.
Hello Nath sir, I have been a subscriber for a while now, your content is really amazing and to the point, only one advice I would like to give you is please ask to subscribe either at the very bigging or the end of the video also I know you would be getting sponsorships soon, in order to promote anything in the middle of the video please make it a smooth and seemless intigration so audiences doesn't really realise that you are promoting something you may or may not tell them but don't make them realise it. Please acknowledge with a heart if you do find my comments helpful. Lots of love and support.
One important point which got missed is the fee structure of the fund. The management fee on the fund is 2% of AUM. Which is alot. Alsoz if they compound at near 15 to 16% cagr the after fee return for a investor will be around 13 percent. Which can be generated through indexing. Otherwise I agree with investment strategy.
Very nice analysis. Please can you also do such analysis on Quant Mutual Fund? They also have some theories which they follow while finding stocks, entry and exit.
Great video sir ,great content ,if interested can i know your opinion whether Focus funds can be poorman's PMS ? AMCs like IIFL , Motilal oswal , Nippon , Invesco , Aditya birla ,Kotak their Focus fund's portfolio looks similar to their Signature PMS portfolio, or is it better just stick to plain vanilla flexicap fund , your opinion would be highly helpful sir
Thank you. Apologies, I haven't looked at focus funds. For a better understanding of the way I look at my equity portfolio, please watch ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-bN5QdxY3RVs.html
hi, great data based videos... Can you please make a video around stock market index growth in relation to the change interest rates and more how money flows into and out of MFs based on the interest rates.
Hi Sankar, Thanks for such a informative video. I am replicating marcellus CCP porfolio by going through their newsletter and presentation. In one of their presentation i found that the CCP portfolio has given around 18% CAGR since insception but in your video it is mentioned that the CCP portfolio has given return around 13%. Which is the correct data. Is it fine to replicate marcellus ?
Most welcome. The performance of CCP changes every month. I took these numbers from the March 2023 presentation (I have attached the link in the video's description). For even more updated info (i.e. 30th April 2023), pls refer to marcellus.in/wp-content/uploads/Marcellus_CCP_Deck_with_Fact_Sheet_Regular.pdf (you can find the performance data on slide 18 .. CCP return since inception is 14.9%)
There is no denying the fact ,you will be better off by buying leaders in place of being trapped in large no of third grade stocks.Either go to mutual funds or have leaders,unless one is expert himself,and 99.99 % are certainly not.. Temprarily value investing has taken over but now it is neutral stage where both value and growth will be performing.
I think many diy investors can easily beat Marcellus’s consistent compounder just doing simple sip with a right asset allocation among nifty 50 index fund , mid cap index fund and low expense small cap fund like Tata or Canara.
@@shankarnath I began my SIP (Systematic Investment Plan) investing journey in November 2018. Since then, I have made several mistakes, such as investing in too many funds and purchasing regular plans. However, amidst these mistakes, I have also made a few correct decisions. I have been regularly investing in 3 or 4 funds, namely Mirae Asset Large Cap Funds, Mirae Asset Emerging Funds, Kotak Flexicap, and SBI Small Cap. One strategy that worked well for me was increasing my investments in Mirae Asset Large Cap Funds whenever the market experienced a decline. This approach helped me achieve a return on my equity portfolio of over 16%. Interestingly, when I benchmarked my investments against the Nifty 50 index, I still observe a return above 14%.
No, not currently. I'm unable to figure out how I can add value on a consistent basis using the "members" program. If you have ideas or if you've seen a good member channel, then please let me know. Thanks!
@@shankarnath Frankly speaking, they dont do much apart from sharing some info about a certain part of their portfolio in the name of entry and exit strategy. Some stock specific advisory/consultancy if asked by a member. Thats it. You are doing good keeping it free. Your videos are very very elaborate, comprehensive and with top notch research. Content is pretty saleable, but then, everybody should not be there to sell his/her knowledge. Keep it free for some time. Money will find you through a different route. Keep rocking. You will certainly grow very big as a youtuber. 🙂🙂
@@kosherspirit Thanks for the kind appreciation. 1. I'll look at some sort of membership once I've figured what value I can add & how. For instance, I am now on video number 61 (long format videos) for my channel and atleast 30 of the videos are such where there is a lot of data involved that needs to be updated so that members can take advantage of it at the right time. Plus as I read more & my interactions with other players grows, I am receiving more actionable information such as special situations, possible frauds etc. that can be very useful for members. I don't think I am ready to do membership program yet but as a principle, I believe -- "Learning should be free but one should pay for research". 2. Recently, a fellow content-creator said something in Hindi & I'm paraphrasing here -- "free & love mix well". So essentially, as long as content is free there is a lot of love. The moment there's a paywall, the love decays a bit. This is just conjecture for me as I haven't tried a paywall but at some point, this might happen and it will be interesting to see how the world shapes up around me. You're right, my trade-offs are tougher as I have to take care of three players in my game --- a) the platform's (like RU-vid rules & algorithm) requirements, b) the viewers (their topic needs & engagement) c) me (burn-out, growth & monetization) Sorry for the long note.
@@shankarnath I ll be the first one to grab the membership. If possible, try covering macroeconomic aspect of investing such as Fed rates, inflation, asset classes, industrial production, monetary n fiscals etc etc....and a little work on nifty and other indices technical levels. A credible work is lacking in these areas. Akshat Shrivastava is doing fine work but still i find there is a gap .
