Manish Gupta

Founder and CIO of Solidarity Investment Managers

[Sarrah Bellus @sarrah_bellus]

It made my day 🫣

[Manish Gupta @MGSolidarity]

Dr Aniruddha Malpani seeded Solidarity in 2014. A professional relationship has blossomed into a friendship. He is looking to back 5 fund managers @5Cr each. They must have 100% alignment in positions and share thesis in public. Write to [email protected] @malpani

[Reads with Ravi @readswithravi]

I’m in love with this sentence:

“Pressure is a privilege. It means things are expected of you.”

[MENA Visuals @menavisualss]

🇮🇷🇪🇬 An Iranian father uses a handmade cardboard football pitch to help his visually impaired son experience the Iran–Egypt match through touch.

[Javier Caballero @JavierCaballero]

Hace 18 años estudiaba un Máster en Ingeniería Financiera y a la vez trabajaba como auditor de las Tesorerías y Gestoras de Fondos en el Santander.

Al acabar una clase, le pregunté a un profesor cómo aplicar en la práctica algo que acabábamos de ver en teoría.

Me dijo que, para responderme, tendría que pagarle por hora de consultoría.

Años después estudié con Damodaran, probablemente el mejor profesor de finanzas del mundo. En la primera clase nos dijo que su libro era obligatorio para la asignatura y estaba en la tienda de la Universidad. Pero que si buscábamos un poco en su web, lo encontrábamos gratis.

Los mediocres esconden, los mejores dan.

[Ayush Mittal @ayushmitt]

@prabhsingh04 @anilswarup58 @ET_Edge This is so amazing! RACL is a beautiful case study of big transformation due to dedication and hard work!

This would be really special to you as you started your journey with the HR department and brought the change and eventually the award!

[Prabh Mehar Singh @prabhsingh04]

Honoured to share that RACL Geartech has been recognised as one of the "Best Organisations to Work 2026" by ET Edge, Times Group.

What makes this even more special is that the very next company on the list, purely in alphabetical order, was Reliance Industries. It's a proud moment for us to see RACL's name alongside some of India's most respected organisations.

This recognition belongs to every member of Team RACL. A great workplace isn't built by policies alone. It's built by people, trust, ownership, and a shared commitment to excellence.

Grateful for the journey and proud of the organisation that we are building.
@GsinghGursharan
#BestWorkplaces #EmployerOfChoice #RACLGeartech #PeopleFirst #Manufacturing #Leadership

[Manish Gupta @MGSolidarity]

False bravado.

[RedboxGlobal India @REDBOXINDIA]

INDIA'S STOCK MARKET NO LONGER NEEDS FOREIGN MONEY TO SURVIVE. DOMESTIC SIP INVESTORS HAVE QUIETLY TAKEN CONTROL OF INDIA'S FINANCIAL DESTINY: HDFC SECURITIES

[Manish Gupta @MGSolidarity]

One needs to change their world view, when facts change. we need to see the world as it is, not as we would like it to be.

[Cricketopia @CricketopiaCom]

Ian Botham has had several issues involving India and cricketers from the subcontinent.

In 1987, he did not travel to India for the Cricket World Cup.

In 1993, he famously said that if Kapil Dev broke Richard Hadlee’s record for the most Test wickets, he would eat his England cap.

Now, he has blamed the IPL for the decline of West Indies cricket, although many argue that the team’s downturn began after the retirement of legends such as Curtly Ambrose and Courtney Walsh in the early 2000s.

Botham, along with Allan Lamb, also sued Imran Khan for allegedly accusing them of ball-tampering and describing them as uneducated racists in a magazine interview. The jury ruled in Imran Khan’s favour, and the English cricketers were ordered to pay approximately £500,000 in legal costs.

[Cricketopia @CricketopiaCom]

Ian Botham has had several issues involving India and cricketers from the subcontinent.

In 1987, he did not travel to India for the Cricket World Cup.

In 1993, he famously said that if Kapil Dev broke Richard Hadlee’s record for the most Test wickets, he would eat his England cap.

Now, he has blamed the IPL for the decline of West Indies cricket, although many argue that the team’s downturn began after the retirement of legends such as Curtly Ambrose and Courtney Walsh in the early 2000s.

Botham, along with Allan Lamb, also sued Imran Khan for allegedly accusing them of ball-tampering and describing them as uneducated racists in a magazine interview. The jury ruled in Imran Khan’s favour, and the English cricketers were ordered to pay approximately £500,000 in legal costs.

[Neel Chhabra @NeelChhabra]

The accounting system is optimized for describing steady-state businesses. Businesses in transition generate financial statements that systematically misrepresent what is actually happening, in both directions.

Companies whose earnings are temporarily suppressed by investment look worse than they are; companies whose earnings are temporarily inflated by unsustainable returns look better. The skill is learning to read the fingerprint of the transition rather than the headline output of the moment.

[Manish Gupta @MGSolidarity]

Taking bribes is a national sport. Only fair that we should have a award that recognizes those who have excelled.

[Anand Ranganathan @ARanganathan72]

Shibu Soren took a 50 lac bribe to save the Congress govt. The case was so open & shut that a judge even ordered his bribe to be taxed. But the Supreme Court let him off as bribes came under Parliamentary privilege.

Yesterday, Mr Soren was posthumously awarded the Padmabhushan.

[Anand Ranganathan @ARanganathan72]

Shibu Soren took a 50 lac bribe to save the Congress govt. The case was so open & shut that a judge even ordered his bribe to be taxed. But the Supreme Court let him off as bribes came under Parliamentary privilege.

Yesterday, Mr Soren was posthumously awarded the Padmabhushan.

[Ananth Rupanagudi @Ananth_IRAS]

Another Tata Story - Letter to a School Teacher!

In 1965, JRD Tata received a letter from a school teacher in Kolkata named K.C. Bhansali. He enquired of JRD Tata about the guiding principles of his life.

JRD Tata responded to Mr. Bhansali with the following extraordinary letter:

13 September 1965

Dear Mr. Bhansali,

I thank you for your letter of 6th August, enquiring what have been the guiding principles which have kindled my path and my career. I do not consider myself to be an "illustrious personality", but only an ordinary businessman and citizen who has tried to make the best of his opportunities to advance the cause of India's industrial and economic development.

Any such guiding principles I might unconsciously have had in my life can be summarised as follows:

That nothing worthwhile is ever achieved without deep thought and hard work.

That one must think for oneself and never accept at their face value slogans and catch phrases to which, unfortunately, our people are too susceptible.

That one must forever strive for excellence, or even perfection, in any task however small, and never be satisfied with the second best.

That no success or achievement in material terms is worthwhile, unless it serves the needs and interests of the country and its people, and is achieved by fair and honest means.

That good human relations not only bring great personal rewards but are essential to the success of any enterprise.

Yours sincerely,

J.R.D. Tata

********
Such a simple and powerful letter. In less than 200 words, JRD Tata had put forward the guiding principles of his life. Wonderful words coming from one of the greatest industrialists and leaders of our nation.

And also an apt day to ask ourselves, what are the guiding principles by which we strive to lead our own lives?

(Picture below - JRD Tata at Chowpatty Beach, Mumbai. Courtesy Tata Central Archives, Pune.) #Tata #lifelessons

[Manish Gupta @MGSolidarity]

@sajithpai @PixxelSpace Competititive federalism is the way to go!!

[Sahil Kapoor @SahilKapoor]

"Gold is money. Value it like money – against the money supply of the reserve-currency system."

Kapil Gupta, Economist, Nuvama Research shares his framework to value Gold against the Dollar system in the 5th Anniversary Edition of DSP Netra - Process Knowledge.

[Manish Gupta @MGSolidarity]

@TheChaiDude No one put a gun to their head. The people could resign and set up their own company. Criticizing does not solve anything. Lets be the change we want to see.

[Manish Gupta @MGSolidarity]

so you are criticizing the Indian IT folks for not having vision to invest in AI etc. Quick question - what have you built or done for the country?

[Manish Bhandari @TweetManishbh]

Sometime in 2001–02, as a 24-year-old research analyst, I took one of the most daunting plunges of my early career.

I walked into Ramon House to present a stock idea to the legendary Sanjoy Bhattacharyya, then CIO of HDFC Mutual Fund.

The stock was a recently listed media company — a market darling of that era. I carried the confidence, perhaps overconfidence, of youth. A close friend had warned me not to attempt the pitch. But I was excited to have earned the opportunity to present before one of India’s finest investment minds.

Sanjoy listened patiently for nearly 20–25 minutes. Then, in less than 25 seconds, he dismantled my entire thesis. It was blunt. It was unfiltered. And it was unforgettable. There are moments in life that do not merely teach you; they take your breath away. For many of us who lived through the first decade of the 2000s as sell-side analysts, such encounters were our real classrooms. That meeting was not just a lesson in stock picking. It was a trial by fire. It permanently raised my standard for research, sharpened my respect for intellectual honesty, and shaped the very DNA of my journey as an investor. As my career progressed, our interactions became limited. But the impact of that one meeting stayed with me for 25 years.

Recently, in Kolkata, I had the profound honour of reuniting with him — this time to moderate the CFA Society India session, Winning Investment Habits | 5th Masters At Work.
In this conversation, we moved away from the noise of markets and the false comfort of 60-page Excel models. We discussed the timeless principles of investing in an age of disruption: the role of luck, the importance of temperament, the limits of technique, and why parts of the AI investment frenzy may eventually meet their nemesis.

Three ideas from the discussion stayed with me deeply:

1. Risk is ignorance: True risk is not merely volatility. It is not understanding what you own. You do not need to be an expert in every sector. But the businesses you choose to own, you must understand exceptionally well.

2. Know thyself: Too many investors try to become the next Warren Buffett. The more important challenge is to understand who you are — your temperament, your biases, your time horizon — and then build an investment framework that is honest to your own nature.

3. The ultimate scorecard: Investing driven purely by greed rarely ends well. Money is only a way of keeping score. The deeper joy of investing lies in continuous learning, intellectual humility, and becoming a better version of oneself.

I invite you to watch the full conversation here:

Instagram link: https://t.co/U3Sf1nqkhm

Youtube link: https://t.co/8c3C1rv7tD

I hope it adds as much value to your investment journey as Sanjoy has added to mine.

[Manish Gupta @MGSolidarity]

Welcome to the land of the brave and the free !

[Daniel Mayakovski @DaniMayakovski]

En Los Ángeles (EEUU), una mujer celebraba la victoria de los Knicks en la NBA, cuando un vecino avisó a la policía por los ruidos... se presentaron 20 policías y fusilaron a su perro, un "peligroso" Golden Doodle, al abrir la puerta de casa.

EEUU, un régimen policial donde te fusilan al perro si chillas en tu casa demasiado alto... la policía no te protege, tú eres quién tiene que protegerse de la policía.