Book Review: Masterclass with Super-Investors

Just finished reading – Masterclass with Super Investors by Vishal Mittal and Saurabh Basrar
A great piece of (hard) work by the authors with these investors, each of whom have a minimum of 25-30 years experience in the markets, so distilled around 300 years of investing experience in this book

First of all, hats off to the authors!

There are only a few books about Indian markets and investors and this one is defenitely a gem.

Very content rich – packed with experiences from India’s great investors – even though we have read and heard from these investors earlier in the media, this book is structured in Q&A style which gave more freedom to the authors to ask pointed and probing questions from retail investors’ perspective, which brings out the unknown information about these investors, in terms of their experience, knowledge and wisdom.

I think the following are the reasons that make this book an excellent work

  1. Even though this book talks about the earlier heard investing rules and dos and don’ts in investing, it gets these in the form of examples and experiences from these investors
  2. This book does not talk much about Financial number crunching and accounting related information – which we can get from everywhere
  3. Each investor explains about their major successes and failures in details with examples and numbers as a story – some of these sections are like as they say riveting read!
  4. They have also shared the knowledge they got from their peer / guru investors

It would be a little bit surprising for most of us to know these:

  • Some of them don’t do scuttlebutt analysis or meet managements at all
  • At times, they had a lot more conviction in the business’ future potential and opportunity than the respective managements
  • Most of these investors are against Leverage / Short selling

These are the few key points that I take away from almost all of these investors:

  • The stock market is about looking ahead and not looking behind
  • Courage to take a plunge without hesitation
  • Sometimes you may be too early to get into the counter – then you need the patience to wait
  • When you have a great idea, you need to back up the truck and buy. It is so difficult to do.
  • Smart investors will average up – as the story plays out and price increases – buy more
  • Ride the entire upward move – sell once the fall starts
  • If you are sure about your analysis and bought the stock – you will not sell even after it becomes 100 bagger
  • Think about what the opportunity was and how much you did?
  • Measure yourself by how much you could have done and how much you did
  • Look for trends and connect them to businesses and stocks
  • See how small an opportunity is now, and how big it can grow
  • You can set in life with 2 hundred baggers. The question is how much money you put in.
  • Read – Read – Read – books / annual reports / business news – if possible debate with like minded people – no other credible source to get knowledge / generate ideas

In my opinion, this book is a must read for anyone interested in investing in the markets – not only Indian markets…

I will definitely read, a couple of more times… after all you can’t remember / capture everything in one read.

One suggestion to the authors – they have only scratched the surface – just 11 investors are profiled in this book
I consider this as Vol 1… expecting couple of more volumes as we still have a lot more of them to be profiled.

Last of all, hats off to the authors!

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Filed under Books, Investing

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