Manvendra Agrawal

Quant Derivatives Prop Trader || MSc - Imperial College London || CFA L3.

[Fundamental Investor ™ 🇮🇳 @FI_InvestIndia]

Dear FM Madam @nsitharaman ji,

I have said it before. And I'll say it again. Loud & Clear. I hope you read this. My audience will repost this until it reaches the Ministry.

LTCG of 12.5% on Equities is one of the Lowest in the World.

But there are a few issues:

1. LTCG was ZERO from 2004 to 2018. STT was introduced to offset the Loss in Revenue. It incentivised long term Investors to Hold on Patiently and enjoy Long Term Returns. I believe that Step was something Golden and rewards Long Term Thinking. FM Madam should reconsider this. Keep STT. Abolish LTCG. Consider Long Term Investors as a Partner in Growth of India.

2. STT is already taken for every transaction. This is a tax. Again putting Capital Gain, especially on Long Term Gains is not Ok. This is my Opinion. STT is borne by the investor irrespective of Profit or Loss.

3. We are not against Paying Taxes. In fact, we all Pay Income Tax, Capital Gains Tax, GST, Excise, VAT, Tax on Dividends and what not. The problem is the Freebies which are Distributed during the Elections. This is not at all ok. We don't want a single rupee of our Capital Gains to be used for Freebies. Please.

I humbly request the FM Madam to Abolish LTCG on Equities. Make the Long Term Period 24 months instead of 12 months. You will see Patient Capital 👍 We need Patient Capital to Drive Markets. Incentivise Long Term Investing Mindset.

For Indian Investors like me, the Pain is lesser. We will continue to Create Wealth. But what about our FII brothers & sisters. They also deserve to get minimum returns in Dollar Terms.

I feel for the FIIs who have suffered due to declining Rupee and they still have to pay LTCG on Rupee Terms. Something the FM Madam and team should revisit.

I think that it is a good time to implement this. FII no longer control our markets. Domestic Funds are consistent and plenty. If FIIs leave, let them Leave with Head Held High. That is our Responsibility.

India Structually is Brilliant. Let's make it Tax Friendly as well.

Patient Capital will Flow More & Stay, if these Steps are Taken.

A Proud Indian Investor,
#FI

[Chirag Barjatya @chiragbarjatya]

Hi @grok tell me something, in usa or uk or developed countries, if you fall in a pit dig by municipal due to their negligence, how much compensation do you get?

[vijaimantri @vijaimantrimf]

Indian Cricket and Indian Fund Managers

India played 30 white-ball matches across T20 WC, ODI WC, Champions Trophy, and Asia Cup.
We won 29 out of 30 matches—losing just one, the ODI final against Australia.

Yet, what did we hear from critics?
• Rohit is overweight.
• Shubman isn’t good enough.
• Virat is past his prime.
• Rishabh is overrated.
• Rahul lacks confidence.
• Shreyas can’t handle the short ball.
• Bumrah is unfit and out of form.
• Siraj leaks runs.
• Kuldeep, Axar, Jadeja are “flat-track bullies.”

Not a single player was spared by “experts” and social media critics.

But look at the scoreboard. The records, trophies, and stats speak for themselves.

The same applies to Indian fund managers.
“This fund is bad.”
“That fund holds the wrong stock.”
“This AMC had an employee doing front-running.”
“This fund invsted in IPO.”

Noise, noise, and more noise.

But the result?

Outstanding long-term wealth creation by Indian mutual fund managers.

Lesson:

Don’t listen to permanent whiners. They rarely see the good in anything.

[Manvendra Agrawal @mannuu06]

@Rayner_Teo Top

[Manvendra Agrawal @mannuu06]

@iarjuntandon @bmwindia @BMW I am also frustrated with @bmwindia My X1 horn has been changed thrice in 3 years and now the 4th one is malfunctioning again!!

[Kirttan Shah @KirtanShahCFP]

I have a completely opposite view here,

(1) Rebalancing inside the fund & hence no tax

(a) Let me ask you a genuine question, how many of you’ll reading this rebalance 1s a year or even 1s in 3 years or even 1s in 5 years? Not saying what’s right or wrong, talking about practicality.
(b) Lets assume you re-balance than that’s good from a tax harvesting strategy perspective for 1.25L on LTCG every year
(c) The 0.5% is highly assumptive.

(2) Distributor cost

(a) Is there no cost for RIA?
(b) Can you not do Direct?
How does it support Flexicap vs Large + Mid + Small argument if you do Direct?

(3) "Distributors" believe Flexicap are Pseudo large caps

(a) I am glad if the DISTRIBUTOR’s believes Flexicap are Pseudo large caps because they are!
(b) Average 70-75% in large caps is not a fund in which the fund manager is using valuations to allocate between large, mid & small, It’s a Pseudo large cap fund!
(c) Anyone PRACTICALLY tracking this market knows Flexicap funds are playing the role large cap funds played before 2018 SEBI scheme categorization

(4) Equal Weight Large + Mid + Small is an aggressive strategy vs Flexicap

(a) Category Average Standard Deviation of Flexicap is ~14 vs Category Average Standard Deviation of Equal weight Large + Mid + Small at ~15%
(b) Equal weight Large + Mid + Small generates “Just” 2% more than Flexicap. Isnt this counter productive when a 0.5% to 1% distribution fee is the every day discussion & 2% out performance is "just"
(c) If with ~1 unit of more standard deviation you can generate 2% more returns, I will leave the judgement to you to decide what makes more sense

[Nilesh Shah @NileshShah68]

Restaurant pe restaurant. Restaurant pe restaurant
When will it stop?

With so many restaurants, people end up overeating, paying a very high markup for restaurant food, and incurring high medical costs due to overeating.

The system wants to keep you unhealthy.

Well, the solution is not to stop eating or shut down restaurants.

The solution is to consult a good dietitian and find what is best for you from a health and pleasure point of view.

You don't eat at every restaurant you see, you don't order the entire menu but use your discretion to select food for your health. The same thing applies to wealth.

Get a good dietitian for health and a good Mutual Fund Distributior or Advisor for wealth.

[Navjot Singh Sidhu @sherryontopp]

Travis head’s obnoxious behaviour during the course of the Melbourne test doesn’t auger well for for the gentleman’s game…… sets the worst possible example when there are kids, women , young & old watching the game……. this caustic conduct did not insult an individual but a nation of 1.5 billion Indians……stringent punishment that would serve a deterrent for the future generations needs to be slapped on him so that no one dares follow suit !!!

@BCCI @ICC @CricketAus

[Kirubakaran Rajendran @kirubaakaran]

Removal of weekly expiry triggered many traders to look for alternative markets, one such market is Crypto. But it involves too much noise, people say it's illegal, not safe & too much of tax. I spent last 30 days exploring Crypto, let me uncover all the myths. 🧵

[Alex & Books 📚 @AlexAndBooks_]

10 Insightful Book Summary Mindmaps:

1) “The Psychology of Money” by @morganhousel

[Mindful Maven @mindfulmaven_]

MIT University just released free online courses.

No payment is required.

Here are 7 courses you don't want to miss in 2024:

[Radhika Gupta @iRadhikaGupta]

Here are the answers. Data is from our factor investing team!

The best performing factor over 10 years - momentum (1/3)

[Radhika Gupta @iRadhikaGupta]

More on what we are doing with factors and sectors soon! (3/3)

[Priti Jain @mepritijain]

Hope this Kazakhastan Thread/Guide is useful for folks to plan a trip 🇰🇿🙌
Shall post an Itinerary soon but until then do have a read at the basics and do share with someone planning to visit 💛🔖🔁

[Priti Jain @mepritijain]

By considering these points, you can ensure a smooth and enjoyable trip to 🇰🇿 from India 🇮🇳
Writing these 🧵take a lot of time and effort, so 🩷 Bookmark🔖 & Repost 🔁 if you found useful 💛
& Follow our journey on Insta for more such details 🙌
https://t.co/aFBy8SOjCc

[Priti Jain @mepritijain]

Last Summer we spent a few days in Gurez Valley - an offbeat Gem in Kashmir ⛅
Just a 5 hour drive from Srinagar, took us to this unexplored Paradise which is stunning beyond words and practically untouched by mass tourism 🏔️
Sharing my 4 day Travel Sojourn👇
Join Along ⬇️

[Manvendra Agrawal @mannuu06]

@ravihanda Absolutely 💯

[Manvendra Agrawal @mannuu06]

@ravihanda Amazing video sir. Especially relevant during current market scenario !

[Ravi Handa @ravihanda]

Market Linked Debentures (MLDs) are a great instrument to diversify your portfolio but they aren't that popular. One of the reasons of less participation in MLDs is lack of awareness. In this video, I will try and explain everything related to MLDs.

Hope you like it, in your head and on Twitter. 🙂

[Nilesh Shah @NileshShah68]

Myth and reality

The AUM growth of MF Industry is majority driven by Mark to Market growth. That has zero impact on Bank Deposits.

MF industry doesn't deal in cash.
All subscription received or redemption paid is only through bank accounts. Our flows / AUM remains part of the banking system. In fact since there are no leakages, flows into MF industry actually increases velocity of money and help create more deposits.

As per the RBI, financial flows of household has gone substantially more to Insurance, Pension and PF, small savings and currency, than mutual funds in between FY 20-22.

The question which needs to be answered is why despite UPI, Indians have put more money in currency notes than mutual funds or equities in last three years?

The key to the riddle of bank deposit growth probably lies in that as currency reduces velocity of money and directly impacts deposit growth.