Re: Interview with Shri Rajeev Thakkar

I read with great interest and expectations, your Interview with Shri Rajeev Thakkar, published in the October, 2024 issue of BCAJ, which was duly fulfilled very well.

Though I have been taking an interest in the Indian Equity Market for the last several decades as a pure long-term investor (scrupulously avoiding Trading and F&O activities), this wide-ranging and very comprehensive Interview was a very interesting read and acted as a very comprehensive Refresher Course dealing in depth all aspects of Equity Investments.

The questions raised by you and Shri Raman Jokhakar covered very vast ground including almost all aspects of Equity Investments and brought out all the nuances of the subject matter.

The Interview reflects very in-depth knowledge, experience, maturity and wisdom of Mr Thakkar distilled from great volatility in the Equity Markets over the past several decades.

On his part, Mr Thakkar didn’t avoid answering any questions and replied to all your questions comprehensively and explained all the finer points in great detail. His answers also reflect his comprehensive and vast in-depth knowledge, experience and understanding of very subtle nuances of investment in various other Financial Assets as well.

As an Investor, only knowledge and understanding of the Financial Statements is just not sufficient; one also needs to study the Annual Report as a whole, particularly the Directors’ Report, Chairperson’s Statement, Management’s Analysis, Cash Flow Statements, the Auditor’s Report and various Annexures thereto and the Notes & Qualifications to the Financial Statements.

Due to the enormous increase in various Disclosure and Reporting Requirements under the Companies Act, 2013 and as mandated by the Listing Agreement and those by various SEBI Regulations, the Annual Reports of various Large Corporations run into hundreds of closely printed pages, giving a treasure trove of information about the Corporation’s true Financial Status and Business Performance and Prospects.

Overall, it was a great Interview which will greatly benefit all long-term investors, as it also lays great emphasis on an adequate understanding of Macro-economic factors and Geo-Economics and Geo-political Developments as the Indian Economy is now very much integrated with the global economy and political decisions greatly impact all Economic and Monetary Policy Decisions of various Governments.

Please also convey my sincere thanks and compliments to both Shri Rajeev Thakkar and Shri Raman Jokhakar.