Hi Ankush, This article is brilliantly written and your blog is also turning out to be non-linear and out-of-the-box thinking from an investment research perspective. Your research work is in-depth and it's nice to see a great emphasis on new ideas and discussion around strong business models. Other than Tech, pharma, gold and music industry, do you see non-linear trends or optionality play in the small-cap segment. Also, is there a website, where we can get earnings call transcripts of all listed companies, there are a few available on screener or trendlyne but not for all companies. Once again, many thanks for this excellent article.
Hi Ninad, thank you for your kind words and appreciation.
See market cap has nothing to do with non-linearity or optionality, one of largest company in India- Reliance also had an optionality of JIO. So non-linearity largely comes from business model itself and one is always in a quest to find such business models. Pharma and Tech as a space has many such business models, but that does not mean that all pharma and tech companies can have non-linear growth. I believe one should focus on the business model and not the sector. There are many companies that have done extremely well in not so good sectors, purely based on some aspect of the way business was conducted. So Shree Cement even though being in a not so good cement sector has done extremely well.
On concalls, you can check Research Bytes. They do have concalls for most companies, but either way the direct way is to go to a company's website and get it.
Hi Ankush, This article is brilliantly written and your blog is also turning out to be non-linear and out-of-the-box thinking from an investment research perspective. Your research work is in-depth and it's nice to see a great emphasis on new ideas and discussion around strong business models. Other than Tech, pharma, gold and music industry, do you see non-linear trends or optionality play in the small-cap segment. Also, is there a website, where we can get earnings call transcripts of all listed companies, there are a few available on screener or trendlyne but not for all companies. Once again, many thanks for this excellent article.
Hi Ninad, thank you for your kind words and appreciation.
See market cap has nothing to do with non-linearity or optionality, one of largest company in India- Reliance also had an optionality of JIO. So non-linearity largely comes from business model itself and one is always in a quest to find such business models. Pharma and Tech as a space has many such business models, but that does not mean that all pharma and tech companies can have non-linear growth. I believe one should focus on the business model and not the sector. There are many companies that have done extremely well in not so good sectors, purely based on some aspect of the way business was conducted. So Shree Cement even though being in a not so good cement sector has done extremely well.
On concalls, you can check Research Bytes. They do have concalls for most companies, but either way the direct way is to go to a company's website and get it.
Thank you Ankush
A very simple note on complexity. Brilliant.
this is a great post, keep up the good work