Akshay Bharde

STOP THE WAR NOW!!!

[Akshay Bharde @avbharde]

Please retweet for macimum reach.

[Accidental Investor Prince @AI_June26]

Lost my primary X account @AI_Feb21.

Secondary account to stay connected in the meantime.

Pls amplify this msg to help me reach my network till i get back of my account.

Thank you

@unseenvalue @_chartitude @InvestmentBook1 @suru27 @LearningEleven @ishmohit1 @Prakashplutus

[Sahil Kapoor @SahilKapoor]

Tejas Shah of Avendus Spark shared his framework to value FMCG businesses in the 5th Anniversary Edition of DSP Netra - Process Knowledge

1. No single lens is sufficient. The right method depends on the business, the cycle, and what you’re trying to measure.

2. TINA factor: Re-rating of FMCG stocks is largely a macro phenomenon, driven by the market's broader risk-on/risk-off positioning rather than sector-specific earnings performance alone

12 out of 18 large cap consumption stocks suffered valuation multiple derating over the last 7 years.

NIFTY FMCG Index have underperformed the NIFTY Index over the last 7 years (FY19-26).

[Ron || Mad About Stocks @MadAboutStocks_]

In May 2024, @prabhakarkudva did a session with @AI_Feb21. It remains one of the most impactful podcasts I’ve ever listened to.✅

Coincidentally, around March 2024, I had begun my deep dive into the #semiconductor industry, and by June 2024, I started building my position in Micron Technology ($MU).

Fast forward to April 2025. After spending nearly a year studying the business, I saw what I believed was a once-in-a-cycle opportunity when the stock traded around $60. The conviction didn’t come from forecasts or narratives. It came from applying the exact Stage 1 and Stage 2 framework that Prabhakar explains in this session.

The framework helped me separate temporary pain from permanent impairment, and that’s when I felt I had discovered the deal of the decade. 🚀

Sharing my digital notes 📝 on the framework below. Hopefully, they help you identify the next multibagger before the crowd does. #MadAboutStocks

✅Micron is UP 16X in last 14 Months & is now a $1 Trillion Co. 😊🚀

Thank You @prabhakarkudva for that podcast & being so honest , vulnerable & direct on that podcast !! ❤️

@AI_Feb21 this one is one of your best podcast , sad to see only 11K views , deserves to be seen by Entire INDIA 🇮🇳.🙏

P.S: 2023 was the cyclical bottom for MEMORY 🎯, now go read the STAGE 1 & STAGE 2 details of the framework ⬇️⬇️

Video Link 🔗:

https://t.co/b4wSjUgbXR

[Akshay Bharde @avbharde]

@Iamsamirarora Great episode as always!

[Akshay Bharde @avbharde]

@TVMohandasPai 🙏🏼

[Akshay Bharde @avbharde]

@MadhusudanKela @VijayKedia1 @Iamsamirarora this seems to be something we should support. In today's tech weaponization times, there needs to be some part of private investments going into RnD which can build future sovereignty. 🙏🏼🙏🏼🙏🏼

[Santosh Arron @santosh_arron]

I have to push back a little here specifically on Mythos, Fable, and the framing around Anthropic's models.

All of these, including Anthropic's Claude family, are built on transformer architecture. There's no fundamental architectural breakthroughs here that India is locked out of. The transformer is public knowledge. Sarvam, Krutrim, and others are building on it too. So the question isn't just whether we can access these models it's whether we should keep chasing the same architectural paradigm at all.

And my honest answer is: we shouldn't. We should stand on our own and go further.

At Blankline, we've been working on something we call Hope a post-transformer research initiative. The core thesis is that transformers compute the wrong probability operation for general intelligence. They estimate P(next token | context). What intelligence actually requires is P(latent structure | observations), followed by search and verifier-driven reasoning. That's a fundamentally different thing. Our Hope-1 architecture discrete-latent program codes, verifier-driven search, a pre-registered seven-rung validation framework has already cleared four of those seven rungs at 0.69M to 3M parameters, exceeding the closest published baseline by approximately 2× on ARC tasks. The research isn't about building a better LLM. It's about asking whether the whole paradigm is wrong.

This matters for what you're saying. If you're right that technology is now the ultimate sovereignty question, then copying the transformer race whether from American or Chinese open-source models still leaves India downstream. What changes the equation is a research bet that could shift the cost frontier of general intelligence entirely. That's what we're working toward.

I turned down funding that would have made Blankline instantly credible overnight. Those investors wanted US and UK IP transfer as a condition. If I were just building a product, I might have taken it. But the research we've done and what we have internally right now is something I wasn't willing to hand over. The value isn't in the model weights. It's in the architectural thesis and the research direction itself, which we've published openly at https://t.co/SCO8YKcUTD while keeping the implementation proprietary.

India's top investment firms I've spoke with wants profits, not pure R&D. That's a real problem and I've run into it directly. The SF ecosystem understands how transformative foundational research can become. We haven't built that culture here yet but that's exactly the culture India needs if we want to be a source of frontier intelligence, not just a consumer of it.

The goal isn't to make intelligence available only to Indians. It's to make it available to everyone and that only happens if someone builds the thing from first principles rather than licensing access to someone else's architecture.

[Akshay Bharde @avbharde]

@EquityValueIn But it's extremely difficult to know something is a real dud unless it's obvious which is not often. Mohnish Pabrai sold Micron just before it started the wild run.

[Akshay Bharde @avbharde]

@arvind_kothari 🙏🏼

[Akshay Bharde @avbharde]

Weaponization of tech, weaponization of energy, weaponization of defence, weaponization of pharmaceuticals, weaponization of raw materials, weaponization of water. In short weaponization of dependencies. A sovereign nation doesn't depend on any other nation for anything.

[Anthropic @AnthropicAI]

The US government, citing national security authorities, has issued an export control directive to suspend all access to Fable 5 and Mythos 5 by any foreign national, whether inside or outside the United States, including foreign national Anthropic employees.

The net effect of this order is that we must abruptly disable Fable 5 and Mythos 5 for all our customers to ensure compliance.

Access to all other Claude models is not affected.

We apologize for this disruption to our customers. We believe this is a misunderstanding and are working to restore access as soon as possible.

Read our full statement: https://t.co/bwn0sximKZ

[Sahil Kapoor @SahilKapoor]

Every June, DSP Netra pauses from the noise of markets and returns to first principles.

The anniversary editions are our way of learning from the greats. Investors, thinkers, and practitioners who have shaped how we understand risk, cycles, behaviour, valuation, and time.

This compendium brings together the anniversary editions of DSP Netra released every 5th of June from 2022 to 2026. Each edition is a reminder that markets change constantly, but the best lessons tend to age very slowly.

2026
5th: Process Knowledge
Practitioners from across the investment industry share their frameworks for valuing assets.
(https://t.co/zKqDJjcDDi)

2025
4th: Understanding Randomness Through Aphorisms
A visual guide to some of the most important ideas from Nassim Nicholas Taleb’s Incerto series. This edition explores randomness, fragility, luck, non-linearity, ruin, and survival through sharp aphorisms and simple illustrations.
(https://t.co/ChZG47Je0d)

2024
3rd: A Tribute To Charlie Munger
A tribute to the wit and wisdom of Charles T. Munger. Industry leaders and market practitioners share the lessons they have drawn from Munger on patience, inversion, multidisciplinary thinking, rationality, incentives, and lifelong learning.
(https://t.co/JIez3pW34x)

2023
2nd: Standing On the Shoulders of The Giants
Timeless lessons from some of the finest minds in investing. This edition looks at long-term thinking, compounding, patience, cycles, discipline, and the value of learning from those who have already thought deeply about markets.
(https://t.co/iUq2cda91b)

2022
1st: Bob Farrell’s 10 Timeless Investing Rules
An application of Bob Farrell’s classic investing rules to live market data and charts.
(https://t.co/BllNCoA2ZY)

Source:
@dspmf

@PragatiAggarwa8 @ParthShah_01 @KalpenParekh

Other editions: https://t.co/lg3p47shKv

[Sekhar @LearningEleven]

The past 8–9 weeks have been exceptionally rewarding for small and mid cap investors. However, if market volatility returns and the correction gathers pace, these are ten themes worth keeping on the radar.

That said, many of the stocks within these themes have already rallied significantly and may not be available at reasonable valuations. The price at which one is comfortable investing is a personal decision and should be backed by independent research and due diligence.

1. CDMO/Specialty Pharma - Sai Life, Laurus Labs, Shilpa Medicare, Gland Pharma (In the middle of a multi-year earnings cycle)

2. Recycling - Gravita (Consistent compounding theme, incremental capacities to help, plus copper foray)

3. Electrification - Quality Power, Atlanta Electricals, Yash Highvoltage, Hindusthan Insulators & Industries

4. Growth Theme - Timex, DEE Development, Prizor Viztech, SBCL

5. Precision Engineering (expensive bucket) - Sansera Engineering, Omnitech Engineering, Sedemac and OBSC Perfection

6. Image makeover - Fineotex Chemical (The CrudeChem slingshot), PVP Ventures (Real Estate to Healthcare), Viyash Scientific ("the next big thing") and NPST (international aspiration)

7. Tier 2/3 Pharma - Sakar/Sudeep/Kwality Pharma/Venus Remedies

8. Exports Bucket - Garware Hi Tech and Goldiam

9. Logistics - Aegis Logistics

10. Defence - Apollo Micro and Paras Defence

Disclaimer: Not a buy or sell recommendations. Shared for further research and study.

[Akshay Bharde @avbharde]

@ChanderBhatia01 Thank you sir. Absolutely agree. I have been disciplined but certainly far away from yours. Always rewarding to chase something extraordinary. 🙏🏼

[Akshay Bharde @avbharde]

Very difficult to consume so much protein everyday. Hats off to Chander sir. His investing discipline is top notch but his lifestyle discipline is outstanding! 🙏🏼

[Chander Bhatia @ChanderBhatia01]

My protein diet is as under-

I get up at 5am-

1- take a black with soaked nuts like walnuts, almonds, and pumpkin seeds- 5-7 grams protein

2- Go to Gym at 6-6.15, come back at 7.30- take 3-4 boiled eggs- 18-24 grams protein.

3- 9.15-9.30 breakfast- Dal chilla with Paneer/Greek Yogurt with chia seeds, hemp seeds and one fruit/soya or paneer tikki total around 25 grams protein.

Lunch at 12.30-45- Curd, salad, paneer, one vegetable/pluses- around 25-30 gram protein.

Dinner at 6.30- Chicken/fish/paneer/soya/Greek yogurt/ anything protein rich with some sorted vegetables/very less quantity of rice. 25-30 grams.

[Akshay Bharde @avbharde]

@ishmohit1 Take care Ishmohit. Very well said. Safety, insurance, resilience all these things are essentials. 🙏🏼

[Akshay Bharde @avbharde]

Great learnings. I think this actually must be part of school curriculum. We all need to be able to understand, appreciate, value & judge businesses properly. It's an outcome of huge dark hours efforts. 🙏🏼🙏🏼🙏🏼

[Manthan Rastogi @rastogi_manthan]

Visited a nano-cap SME in the aluminium windows and façade business yesterday.

Came back with a lot of respect for what happens behind the numbers.

As analysts, we spend most of our time looking at revenue growth, margins, ROCE and cash flows. But when you visit a company, you realize that numbers are just the end result of years of hard work.

A few things I learnt:

1. Many management efforts don't show up in one year's numbers. Some decisions take years before the results become visible.

2. There are a lot of challenges being handled every day that investors never see. We often make judgments sitting in front of a screen without fully understanding what is happening on the ground.

3. Many small family-run businesses may not have the best systems, controls or investor presentations. But that doesn't automatically mean there is a lack of integrity. However, intent to improve should be there.
In fact, I was surprised to see how involved and passionate the entire family was about the business.

4. One interesting thing was that the promoters were genuinely worried about investor communication because of the fear of SEBI regulations. Many SMEs want to communicate better with shareholders but need the right guidance on how to do it.

Plant visits don't always change your investment thesis.

But they definitely help you understand the people behind the business.

And sometimes that context is as important as the numbers themselves.

Disclosure: Alphawealth and I don't have any investment in the company.

[Prabhakar Kudva @prabhakarkudva]

A framework to get you to a 50-100 bagger stock.

What it takes:

1. Small/Mid starting market cap - so that there is enough scope for the market cap to expand.

2. Institution worthy but under-owned by institutions - Secular multi year growth catalyst + scope for persistent buying over months and years

3. Neglect (during hold period) - not a mainstream idea - often they don't believe in it till the last one-third phase - ability to hold against consensus is the edge

4. Long Holding period - huge gains are made only if you’re willing to hold the positions for years and decades and have an aversion to selling or booking profits.

5. Drawdown - methodology to ignore 50-90% drawdowns. I don’t say ability to stomach as one can’t really stomach it. It essentially comes down to not even looking at it or avoiding calculating your returns or drawdowns. Vision helps (covered below).

6. Allocation - Just the right starting allocation (typically small enough) that you never feel the pinch even if it goes wrong and you can continue to hold on for as long as it takes

7. Vision - to see the big picture and the larger trend and not be bothered by events in the interim.

This in no way means one should follow this approach - there are many ways to make it work in the markets - but just to understand that this is what it takes.

[Akshay Bharde @avbharde]

This is the secret sauce to make big wealth. Very very very tough to execute though.

[Prabhakar Kudva @prabhakarkudva]

@Shardhr There are no answers to these. Many may not like this but Eventually you get your 100 baggers by surrendering to the market and circumstances.

[Book Briefs @BookBriefsHQ]

10 regrets that hit like a gut punch on your final day.

📖 The Leader Who Had No Title

[Akshay Bharde @avbharde]

@vivek_chauhan Thanks Vivek. We might head to Sri Lanka soon. 🙂🙏🏼

[Polymath Investor @polymathinvest1]

A few month’s back I put together this guide on how to research anything.

Basically a series of research habits for curious adults:

1) Pick a question that nags at you. Curiosity is the only fuel that carries you forward.
2) Run it through a "so what" test before starting anything.
3) Skim 20 sources, read the best 3 closely.
4) Look up new terms just in time, then return to the main thread.
5) Triangulate facts across three sources.
6) One idea per note, with its source attached.
7) Define "done" on day one.
8) Finish with a deliverable.

The full version, including how to build expert networks and turn research into better decisions, shared here.

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