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The Equitymaster Research Digest

Cocktail Parties and Disaster Proofing
Sep 6, 2016

  • Three rules to disaster-proof your portfolio
  • A business known to outperform markets...almost every time
  • The first issue of Vivek Kaul Letter

Newspaper reports claim the mood at this year's Reliance Annual General Meeting (AGM) was like that of a Jamboree. The shareholders were so thrilled to be there they were bursting at the seams. Some recalled the days when Reliance AGMs presided over by Dhirubhai Ambani were nothing less than an annual fest. The boisterousness of the gathering seemed like the best signs for the company to many.

Whether the 45-minute speech will alter the fortunes of Reliance, or that of its competitors, remains to be seen. But at least Reliance shareholders will have lots of stories to tell.

Success in the markets, or the possibility of it, is a big ego booster. And not many investors miss a chance to brag about it.

You've probably heard many investing stories at cocktail parties. Unlike AGMs, where the discussion is largely centered on the business in question, cocktail parties allow freewheeling conversations. Bragging about hot stocks is a given. Apart from boosting egos, it also allows people to peddle their stock ideas and get others to put skin in the game. But not necessarily to everyone's advantage.

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