Sameer Shah

Co-Founder and Fund Manager at ValueQuest Investment Advisors

[Sameer Shah @sameervq]

how to stop time: meditate
how to travel in time: read
how to escape time: music
how to feel time: write

[Sameer Shah @sameervq]

Some of the most valuable investment insights don't come from a screen. They come from being on the ground, meeting people, asking questions and observing what numbers cannot capture. Sophisticated tools sharpen research. They don't replace judgement.

[Ian Cassel @iancassel]

When you are live on an earnings call and the CEO or CFO pauses for five seconds before answering a question about accounts receivables, you feel something. You cannot explain it cleanly. You just know that pause meant something. Read the transcript two hours later and that pause is gone entirely. The transcript says he answered the question. It does not say he needed five seconds to decide how.

When you visit management in person and the receptionist has been there for twenty-two years, that tells you something. When the parking lot is full at 4pm on a Friday, that tells you something. When the CEO walks you through the factory floor and he has unscripted personal dialogue with the line workers with what looks like genuine respect rather than performed deference, that tells you something significant about how this place operates.

None of that is in the 10-K.

https://t.co/ugZohKNVcD

[Sameer Shah @sameervq]

Financials: FDI’s favourite to enter, FIIs’ favourite to exit.

[Sameer Shah @sameervq]

Chak de

[The Indian Express @IndianExpress]

India beat China 1-0 to win their first women’s hockey gold medal at the Asian Games since 1982. It was also the sixth gold medal that the Indian contingent won at the Asiad on Friday, taking the country’s total tally of golds to 16. The Indian women’s hockey have, in the process, also qualified for the 2028 LA Olympics.

Read more: https://t.co/U6lWduhGJQ

[Sameer Shah @sameervq]

“Be the change you wish to see in the world.” — Mahatma Gandhi
#GandhianValues

[Sameer Shah @sameervq]

Can expect a movie announcement soon

[Mid Day @mid_day]

The Tukaram Mundhe-led Maharashtra FDA seized banned gutkha and flavoured tobacco worth Rs 1.13 crore after a six-hour chase. The truck was reportedly carrying the consignment from Madhya Pradesh towards Bhiwandi via the Samruddhi Expressway, but changed course and headed towards Pune via Sangamner. FDA teams tracked the vehicle before it was intercepted at Chakan-Talegaon Chowk.

[Sameer Shah @sameervq]

A good example of why simplicity matters. What was once a frictionless system can quickly become complicated with more categories and differential rates. Every layer of complexity brings unintended consequences.

[Nithin Kamath @Nithin0dha]

I think MDR on UPI was probably inevitable at some point, especially given how widespread UPI adoption has become. It could also lead to more competition, instead of just three apps accounting for more than 95% of the market.

That being said, there are some use cases, like investing and broking, where the proposed MDR structure doesn’t really make sense.

The problem with broking is that there is no guarantee that money transferred to a broker will actually result in a transaction.

As brokers, we can’t force a customer to trade after transferring money. And if we can’t pass the UPI charge on to the customer, there is essentially no limit to the cost a customer can impose on a broker without generating any revenue.

Just as an example, 10,000 customers could each make 50 UPI transfers of ₹2 lakh in a month without executing a single trade. At the proposed MDR, this could potentially cost the broker around ₹2 crore, without generating any business.

What makes this even more challenging is quarterly settlement (QS). This is a SEBI regulation that requires brokers to send unused funds back to clients every month or quarter.
Most customers then transfer these funds back to their broking accounts, with more than half of these transfers happening through UPI. So regulation essentially forces this movement of money every month or quarter, and the broker could end up bearing the cost when the money comes back, without any incremental benefit or revenue.

By the way, we currently don’t charge brokerage on equity delivery trades because the economics allow us to offer them for free. But if every UPI transfer starts carrying an additional cost, irrespective of whether the customer actually trades, I don’t see how we can absorb this indefinitely.

I think having an MDR is okay. It still doesn’t solve the problem of customers transferring money without transacting, but something like 0.02% with a cap of ₹5 or ₹10 per transaction seems much more reasonable for broking, instead of a cap as high as ₹300.

[Sameer Shah @sameervq]

Khamemi Savve Jiva, Savve Jiva Khamantu Me, Metti Me Savve Bhuyesu, Veram Majjham Na Kenai

Michhami Dukkadam🙏

[Sameer Shah @sameervq]

May bappa clear every obstacle in your path and bless you with good health and happiness. Ganpati Bappa Morya!

[ValueQuest @VQIndia]

The Great Physical Rebuild

Global capex intensity peaked at ~27% of world GDP during China’s 2003–08 industrialisation, powered by one country and one primary driver. Today, at least six independent drivers are unfolding simultaneously.

In a peak scenario, capex intensity could approach 28–30%, underscoring the potential scale of the investment cycle ahead.

Read the in-depth report on https://t.co/cVbYrGGVuK

SEBI Registration: https://t.co/CawHkEekGz
Disclaimer: https://t.co/vwZvdTGRD6

[ValueQuest @VQIndia]

Cheap electrons come with expensive wires.

Our latest Deep Dive: rising grid costs could offset nearly half the savings from falling renewable prices. Battery storage is set to grow 25-fold by 2060.

Grids and storage, not generation, will decide the next phase of the energy transition.

Read full report: https://t.co/bnYK7jPuQf

@ravidharamshi77 @sameervq

#EnergyTransition #Investing #Renewables

SEBI Registration: https://t.co/NQnsBuvQ7K

[Sameer Shah @sameervq]

Looks like NRIs lapping it up.

[ET NOW @ETNOWlive]

#NewsAlert | RBI says: Indian banks raise $17.4 bn through FCNR(B) deposits

@RBI

[Sameer Shah @sameervq]

For the next two days, every algorithm is going to serve me The Odyssey. Nolan delivers as always.

[Sameer Shah @sameervq]

"The best decisions aren't made with your mind, but with your instincts."  - Lionel Messi

[ValueQuest @VQIndia]

AI isn't the story. It's the catalyst.
The world is rebuilding its physical foundations, and India sits at the centre of it. Our latest Perspectives report, "The Great Physical Rebuild," breaks down why.

Read here: https://t.co/P22N2S3Lg5

@ravidharamshi77 @sameervq

SEBI Registration: https://t.co/HkNWG8SxEl
Disclaimer: https://t.co/vwZvdTGRD6

[Sameer Shah @sameervq]

Wishing this initiative massive success. This will make a meaningful difference.

[Kiran Mazumdar-Shaw @kiranshaw]

Truly game changing ! 👏👏👏👏

[Sameer Shah @sameervq]

Phenomenal feat

[Johns. @CricCrazyJohns]

40-YEAR-OLD VOZINHA IS A HERO OF 2026 FIFA WORLD CUP 🫡

- Draw vs Spain.
- Draw vs Uruguay.
- Went to Extra time vs Argentina.

History will remember Cabo Verde & Vozinha.

[Sameer Shah @sameervq]

Learning never stops. This institution and campus keep getting better.

[Sameer Shah @sameervq]

Finance companies, real estate companies, insurance renewal agents. Somewhere along the way, lead generation became indistinguishable from harassment. #spam

[NDTV Profit Alpha @NDTVProfitAlpha]

#BREAKING | India-UK FTA to come into force on July 15.

@Rish_Bhat

[Sameer Shah @sameervq]

Who wants to be a trillionaire!!!

The feeling of still being a micro cap in a world where every cycle is getting quicker and larger is hard to describe.