There Will be an Equitymaster 2.0 on the Other Side of Our Silver Jubilee

Apr 27, 2020

Editor's note: Dear reader, today's the last day to claim the special Equitymaster anniversary bonus. Get it here...

Rahul Shah, Editor, Profit Hunter

Last week we celebrated our 25th anniversary.

The entire staff is proud to be a part of this momentous landmark. However, an elaborate celebration will have to wait. With the whole world fighting in solidarity against the deadly Covid-19, cutting cakes and covering ourselves in confetti is the last thing on our minds.

But what we can certainly do is share our thoughts on the journey so far and of course, the road ahead.

I have been with Equitymaster for most of its 25-year journey. Upwards of 60% to be precise. That's an eternity considering the world we live in where people switch jobs at the drop of a hat and for just a wee- bit better prospects.

I was reminded of this on a recent Zoom call with my old school friends, some of whom I was talking to after a gap of good 4-5 years. I was the only one in the group who hadn't switched my job for the longest possible time. I assured them I had no intention of doing so anytime in the near future.

Warren Buffett talks about being able to go tapdancing to work every day. Well, I pretty much have a similar feeling when I come to work at Equitymaster. I just love my job and the responsibilities that come along with it.

And a big part of the credit goes to the great vision of our founder Ajit Dayal.

Ajit was clear from day one that what Equitymaster should never compromise on is writing honest, unbiased research. It should never be afraid to call a spade a spade even if it comes at the expense of sounding outright foolish in the near term.

In fact, this obsession of doing the big things right reminds me of a Steve Jobs interview where he famously talked about how the very innovation that made companies successful, die out if things are not handled well.

He pointed out that it is product sensibility and product genius that often made big tech companies successful. However, once these companies become monopolies and giants in their own industries, product guys get pushed out. They no longer influence sales and it is the sales and marketing people that start calling the shots. This often rings in a steady decline in the fortunes of these companies as they forget how to innovate.

Which is why Ajit was clear from day one that if there's one thing that Equitymaster should not forget, it is to write honest, unbiased reports.

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It's perhaps this constant encouragement from him that allowed us to come out with that landmark Reliance Power IPO report. We were convinced that the stock was a bad buy despite the rest of the world going gaga over it.

And it is the same encouragement that convinced me that Tata Motors was a screaming buy at the peak of the 2008 financial crisis. It enabled me to give one of my most successful calls.

To be honest, I see a lot of research houses where it is usually the sales and the marketing that call the shots. When times are good, analysts are forced to come out with more BUY reports and when they are bad, more SELL reports are encouraged.

However, the way the stock markets work, it is exactly the opposite!

When times are good there should be more SELL reports as stocks become more expensive and when times are bad, there should be more BUY reports as stocks become cheaper.

This is something that we've never lost sight of, all courtesy of being reminded to do the right thing and to look at things in an unbiased way.

Yes, this has often caused us to lose significant revenues in the near term.

I have seen a lot of subscribers choosing not to buy our products because we don't recommend stocks when everyone around is doing so. But this is fine with us.

We know that over the long run, it is our approach that will prove to be more rewarding and subscribers do realise it eventually.

I am not saying that we are right all the time. Of course, we've had our fair share of mistakes, some of them big ones. However, those mistakes have not been because we prioritised business over the accuracy of our calls. They have mostly been because either we've been unable to read the situation well or have been too late to react to important developments.

But we are learning all the time and trying our best not to make the same mistakes twice.

We have also been guilty recently of spreading ourselves too thin.

We began releasing new subscription services faster than we needed to, putting in more energy, and resources into services that you - our subscriber - didn't end up wanting.

Over time, this became unsustainable and even worse, we started feeling out of touch with our loyal readers.

We did not like this feeling. After all, we had set out to become the 'Investor's Best Friend'.

Which is why we decided to do something about it and we shut down some of our services. This was done in order to allow us to focus on the services that you - our subscribers - love the most.

With these changes done and dusted and with Equitymaster's focus on coming out with honest, unbiased reports as sharp as ever, I strongly believe that the best days lie ahead.

And if the last 25 years are any indication, the next 25 would most likely be much more profitable, much more rewarding and certainly much more insightful.

Here's a great way to solidify your bond with us even further. To celebrate this happy anniversary, we're giving away bonuses to our readers.

To claim them for yourself, please click here.

A quick reminder that today's the last day to claim them. We're ending the anniversary celebrations in a few hours.

So go ahead! Accept our anniversary gift to you here.

Good Investing,

Rahul Shah
Rahul Shah
Editor, Profit Hunter
Equitymaster Agora Research Private Limited (Research Analyst)

PS: Today's the last day to claim the special Equitymaster anniversary bonus. Get it here.

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Equitymaster requests your view! Post a comment on "There Will be an Equitymaster 2.0 on the Other Side of Our Silver Jubilee". Click here!

3 Responses to "There Will be an Equitymaster 2.0 on the Other Side of Our Silver Jubilee"


Apr 27, 2020

Already i became a member.I neednot use the bonus and get for second year with greater amount



Apr 27, 2020

I am lifetime member/subscriber to all the services of Equitymaster. However, I don't understand what is the bonus being offered here. Could you please specify what is the bonus being offered?


Shatrughan Suryavanshi

Apr 27, 2020

I want to participate

Equitymaster requests your view! Post a comment on "There Will be an Equitymaster 2.0 on the Other Side of Our Silver Jubilee". Click here!